# EDGAR Filing Document

**Accession Number:** 0000887991
**File Stem:** 0001193125-26-248910
**Filing Date:** 2026-5
**Character Count:** 434132
**Document Hash:** 30b848ec8894c07590154a86209f0454
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-248910.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001193125-26-248910

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 44

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**EFFECTIVENESS DATE**: 20260529

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRUDENTIAL INVESTMENT PORTFOLIOS 8
- **CENTRAL INDEX KEY:** 0000887991

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06677
- **FILM NUMBER:** 261046340

**BUSINESS ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 6TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102
- **BUSINESS PHONE:** (973) 802-5032

**MAIL ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 6TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DRYDEN INDEX SERIES FUND
- **DATE OF NAME CHANGE:** 20030716

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRUDENTIAL INDEX SERIES FUND
- **DATE OF NAME CHANGE:** 19980123

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRUDENTIAL DRYDEN FUND
- **DATE OF NAME CHANGE:** 19970620

## Series and Classes Contracts Data

### PGIM QUANT SOLUTIONS LARGE-CAP INDEX FUND (Series ID: S000004627)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000012597 | Class A      | PSIAX           |
| C000012599 | Class C      | PSICX           |
| C000012600 | Class Z      | PSIFX           |
| C000012601 | Class I      | PDSIX           |
| C000195476 | Class R6     | PQSIX           |

### PGIM Securitized Credit Fund (Series ID: S000065752)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000212600 | Class Z      | SCFZX           |
| C000212601 | Class A      | SCFOX           |
| C000212602 | Class C      | SCFVX           |
| C000212603 | Class R6     | SCFQX           |

?xml version='1.0' encoding='ASCII'? Prudential Investment Portfolios 8

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

#### FORM N-CSR

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

---

| | |
|:---|:---|
| Investment Company Act file number: | 811-06677 |
| Exact name of registrant as specified in charter: | Prudential Investment Portfolios 8 |
| Address of principal executive offices: | 655 Broad Street, 6<sup>th</sup> Floor<br>Newark, New Jersey 07102 |
| Name and address of agent for service: | Andrew R. French<br>655 Broad Street, 6<sup>th</sup> Floor<br>Newark, New Jersey 07102 |
| Registrant's telephone number, including area code: | 800-225-1852 |
| Date of fiscal year end: | 9/30/2026 |
| Date of reporting period: | 3/31/2026 |

---

------

Item 1 – Reports to Stockholders

(a) Report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1).

------

![](g125921g1tsrbanner_2026.jpg)

PGIM Quant Solutions Large-Cap Index Fund

Class A:

PSIAX

SEMIANNUAL SHAREHOLDER REPORT – March 31, 2026

This semiannual shareholder report contains important information about the Class A shares of the PGIM Quant Solutions Large-Cap Index Fund

(the "Fund") for the period of October 1, 2025 to March 31, 2026.

You can find additional information about the Fund at

pgim.com/mutual-fund-documents

. You can also request this information by contacting us

at (800) 225-1852 or (973) 367-3529 from outside the U.S.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?

(Based on a hypothetical $10,000 investment)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Quant Solutions Large-Cap Index Fund—Class A | $25 | 0.50% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Fund's net assets | $827365084<br>|
| Number of fund holdings | 507 |
| Portfolio turnover rate for the period | 1% |

---

MF174E2A

![](g125921g1pgimlogo_2026.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 3/31/2026?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 14.3% |
| Software | 8.2% |
| Interactive Media & Services | 7.6% |
| Technology Hardware, Storage & Peripherals | 7.2% |
| Broadline Retail | 3.6% |
| Oil, Gas & Consumable Fuels | 3.6% |
| Financial Services | 3.6% |
| Pharmaceuticals | 3.4% |
| Banks | 3.4% |
| Capital Markets | 3.1% |
| Aerospace & Defense | 2.3% |
| Consumer Staples Distribution & Retail | 2.0% |
| Automobiles | 2.0% |
| Machinery | 1.8% |
| Health Care Equipment & Supplies | 1.8% |
| Hotels, Restaurants & Leisure | 1.7% |
| Biotechnology | 1.7% |
| Specialty Retail | 1.7% |
| Insurance | 1.7% |
| Electric Utilities | 1.6% |
| Health Care Providers & Services | 1.5% |
| Entertainment | 1.3% |
| Electrical Equipment | 1.2% |
| Chemicals | 1.1% |
| Affiliated Mutual Fund - Short-Term Investment | 1.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Beverages | 1.1% |
| Communications Equipment | 1.1% |
| Diversified Telecommunication Services | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Ground Transportation | 0.8% |
| Household Products | 0.8% |
| Life Sciences Tools & Services | 0.8% |
| IT Services | 0.8% |
| Specialized REITs | 0.8% |
| Multi-Utilities | 0.7% |
| Tobacco | 0.6% |
| Unaffiliated Exchange-Traded Fund - Equity | 0.6% |
| Consumer Finance | 0.5% |
| Building Products | 0.5% |
| Metals & Mining | 0.5% |
| Food Products | 0.5% |
| Commercial Services & Supplies | 0.5% |
| Others\* | 5.0% |
|  | 99.9% |
| Other assets in excess of liabilities | 0.1% |
|  | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Consists of Industries that each make up less than 0.5% of the Fund's net assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/mutual-fund-documents

or by scanning the QR code below, including the Fund's prospectus,

financial information, Fund holdings, and proxy voting information. You can also request this information by contacting us at (800) 225-1852 or

(973) 367-3529 from outside the U.S.

![](g125921g1qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/us/en/intermediary/resources/featured/e-delivery

and enroll.

PGIM Quant Solutions Large-Cap Index Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SHARE CLASS A <br> NASDAQ PSIAX <br> CUSIP 74441F108

MF174E2A

![](g125921g1pgimlogo_2026.jpg)

------

![](g125921g2tsrbanner_2026.jpg)

PGIM Quant Solutions Large-Cap Index Fund

Class C:

PSICX

SEMIANNUAL SHAREHOLDER REPORT – March 31, 2026

This semiannual shareholder report contains important information about the Class C shares of the PGIM Quant Solutions Large-Cap Index Fund

(the "Fund") for the period of October 1, 2025 to March 31, 2026.

You can find additional information about the Fund at

pgim.com/mutual-fund-documents

. You can also request this information by contacting us

at (800) 225-1852 or (973) 367-3529 from outside the U.S.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?

(Based on a hypothetical $10,000 investment)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Quant Solutions Large-Cap Index Fund—Class C | $64 | 1.30% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Fund's net assets | $827365084<br>|
| Number of fund holdings | 507 |
| Portfolio turnover rate for the period | 1% |

---

MF174E2C

![](g125921g2pgimlogo_2026.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 3/31/2026?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 14.3% |
| Software | 8.2% |
| Interactive Media & Services | 7.6% |
| Technology Hardware, Storage & Peripherals | 7.2% |
| Broadline Retail | 3.6% |
| Oil, Gas & Consumable Fuels | 3.6% |
| Financial Services | 3.6% |
| Pharmaceuticals | 3.4% |
| Banks | 3.4% |
| Capital Markets | 3.1% |
| Aerospace & Defense | 2.3% |
| Consumer Staples Distribution & Retail | 2.0% |
| Automobiles | 2.0% |
| Machinery | 1.8% |
| Health Care Equipment & Supplies | 1.8% |
| Hotels, Restaurants & Leisure | 1.7% |
| Biotechnology | 1.7% |
| Specialty Retail | 1.7% |
| Insurance | 1.7% |
| Electric Utilities | 1.6% |
| Health Care Providers & Services | 1.5% |
| Entertainment | 1.3% |
| Electrical Equipment | 1.2% |
| Chemicals | 1.1% |
| Affiliated Mutual Fund - Short-Term Investment | 1.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Beverages | 1.1% |
| Communications Equipment | 1.1% |
| Diversified Telecommunication Services | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Ground Transportation | 0.8% |
| Household Products | 0.8% |
| Life Sciences Tools & Services | 0.8% |
| IT Services | 0.8% |
| Specialized REITs | 0.8% |
| Multi-Utilities | 0.7% |
| Tobacco | 0.6% |
| Unaffiliated Exchange-Traded Fund - Equity | 0.6% |
| Consumer Finance | 0.5% |
| Building Products | 0.5% |
| Metals & Mining | 0.5% |
| Food Products | 0.5% |
| Commercial Services & Supplies | 0.5% |
| Others\* | 5.0% |
|  | 99.9% |
| Other assets in excess of liabilities | 0.1% |
|  | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Consists of Industries that each make up less than 0.5% of the Fund's net assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/mutual-fund-documents

or by scanning the QR code below, including the Fund's prospectus,

financial information, Fund holdings, and proxy voting information. You can also request this information by contacting us at (800) 225-1852 or

(973) 367-3529 from outside the U.S.

![](g125921g2qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/us/en/intermediary/resources/featured/e-delivery

and enroll.

PGIM Quant Solutions Large-Cap Index Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SHARE CLASS C <br> NASDAQ PSICX <br> CUSIP 74441F306

MF174E2C

![](g125921g2pgimlogo_2026.jpg)

------

![](g125921g3tsrbanner_2026.jpg)

PGIM Quant Solutions Large-Cap Index Fund

Class I:

PDSIX

SEMIANNUAL SHAREHOLDER REPORT – March 31, 2026

This semiannual shareholder report contains important information about the Class I shares of the PGIM Quant Solutions Large-Cap Index Fund

(the "Fund") for the period of October 1, 2025 to March 31, 2026.

You can find additional information about the Fund at

pgim.com/mutual-fund-documents

. You can also request this information by contacting us

at (800) 225-1852 or (973) 367-3529 from outside the U.S.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?

(Based on a hypothetical $10,000 investment)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Quant Solutions Large-Cap Index Fund—Class I | $9 | 0.19% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Fund's net assets | $827365084<br>|
| Number of fund holdings | 507 |
| Portfolio turnover rate for the period | 1% |

---

MF174E2I

![](g125921g3pgimlogo_2026.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 3/31/2026?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 14.3% |
| Software | 8.2% |
| Interactive Media & Services | 7.6% |
| Technology Hardware, Storage & Peripherals | 7.2% |
| Broadline Retail | 3.6% |
| Oil, Gas & Consumable Fuels | 3.6% |
| Financial Services | 3.6% |
| Pharmaceuticals | 3.4% |
| Banks | 3.4% |
| Capital Markets | 3.1% |
| Aerospace & Defense | 2.3% |
| Consumer Staples Distribution & Retail | 2.0% |
| Automobiles | 2.0% |
| Machinery | 1.8% |
| Health Care Equipment & Supplies | 1.8% |
| Hotels, Restaurants & Leisure | 1.7% |
| Biotechnology | 1.7% |
| Specialty Retail | 1.7% |
| Insurance | 1.7% |
| Electric Utilities | 1.6% |
| Health Care Providers & Services | 1.5% |
| Entertainment | 1.3% |
| Electrical Equipment | 1.2% |
| Chemicals | 1.1% |
| Affiliated Mutual Fund - Short-Term Investment | 1.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Beverages | 1.1% |
| Communications Equipment | 1.1% |
| Diversified Telecommunication Services | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Ground Transportation | 0.8% |
| Household Products | 0.8% |
| Life Sciences Tools & Services | 0.8% |
| IT Services | 0.8% |
| Specialized REITs | 0.8% |
| Multi-Utilities | 0.7% |
| Tobacco | 0.6% |
| Unaffiliated Exchange-Traded Fund - Equity | 0.6% |
| Consumer Finance | 0.5% |
| Building Products | 0.5% |
| Metals & Mining | 0.5% |
| Food Products | 0.5% |
| Commercial Services & Supplies | 0.5% |
| Others\* | 5.0% |
|  | 99.9% |
| Other assets in excess of liabilities | 0.1% |
|  | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Consists of Industries that each make up less than 0.5% of the Fund's net assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/mutual-fund-documents

or by scanning the QR code below, including the Fund's prospectus,

financial information, Fund holdings, and proxy voting information. You can also request this information by contacting us at (800) 225-1852 or

(973) 367-3529 from outside the U.S.

![](g125921g3qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/us/en/intermediary/resources/featured/e-delivery

and enroll.

PGIM Quant Solutions Large-Cap Index Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SHARE CLASS I <br> NASDAQ PDSIX <br> CUSIP 74441F405

MF174E2I

![](g125921g3pgimlogo_2026.jpg)

------

![](g125921g4tsrbanner_2026.jpg)

PGIM Quant Solutions Large-Cap Index Fund

Class Z:

PSIFX

SEMIANNUAL SHAREHOLDER REPORT – March 31, 2026

This semiannual shareholder report contains important information about the Class Z shares of the PGIM Quant Solutions Large-Cap Index Fund

(the "Fund") for the period of October 1, 2025 to March 31, 2026.

You can find additional information about the Fund at

pgim.com/mutual-fund-documents

. You can also request this information by contacting us

at (800) 225-1852 or (973) 367-3529 from outside the U.S.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?

(Based on a hypothetical $10,000 investment)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Quant Solutions Large-Cap Index Fund—Class Z | $12 | 0.25% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Fund's net assets | $827365084<br>|
| Number of fund holdings | 507 |
| Portfolio turnover rate for the period | 1% |

---

MF174E2Z

![](g125921g4pgimlogo_2026.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 3/31/2026?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 14.3% |
| Software | 8.2% |
| Interactive Media & Services | 7.6% |
| Technology Hardware, Storage & Peripherals | 7.2% |
| Broadline Retail | 3.6% |
| Oil, Gas & Consumable Fuels | 3.6% |
| Financial Services | 3.6% |
| Pharmaceuticals | 3.4% |
| Banks | 3.4% |
| Capital Markets | 3.1% |
| Aerospace & Defense | 2.3% |
| Consumer Staples Distribution & Retail | 2.0% |
| Automobiles | 2.0% |
| Machinery | 1.8% |
| Health Care Equipment & Supplies | 1.8% |
| Hotels, Restaurants & Leisure | 1.7% |
| Biotechnology | 1.7% |
| Specialty Retail | 1.7% |
| Insurance | 1.7% |
| Electric Utilities | 1.6% |
| Health Care Providers & Services | 1.5% |
| Entertainment | 1.3% |
| Electrical Equipment | 1.2% |
| Chemicals | 1.1% |
| Affiliated Mutual Fund - Short-Term Investment | 1.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Beverages | 1.1% |
| Communications Equipment | 1.1% |
| Diversified Telecommunication Services | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Ground Transportation | 0.8% |
| Household Products | 0.8% |
| Life Sciences Tools & Services | 0.8% |
| IT Services | 0.8% |
| Specialized REITs | 0.8% |
| Multi-Utilities | 0.7% |
| Tobacco | 0.6% |
| Unaffiliated Exchange-Traded Fund - Equity | 0.6% |
| Consumer Finance | 0.5% |
| Building Products | 0.5% |
| Metals & Mining | 0.5% |
| Food Products | 0.5% |
| Commercial Services & Supplies | 0.5% |
| Others\* | 5.0% |
|  | 99.9% |
| Other assets in excess of liabilities | 0.1% |
|  | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Consists of Industries that each make up less than 0.5% of the Fund's net assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/mutual-fund-documents

or by scanning the QR code below, including the Fund's prospectus,

financial information, Fund holdings, and proxy voting information. You can also request this information by contacting us at (800) 225-1852 or

(973) 367-3529 from outside the U.S.

![](g125921g4qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/us/en/intermediary/resources/featured/e-delivery

and enroll.

PGIM Quant Solutions Large-Cap Index Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SHARE CLASS Z <br> NASDAQ PSIFX <br> CUSIP 74441F504

MF174E2Z

![](g125921g4pgimlogo_2026.jpg)

------

![](g125921g5tsrbanner_2026.jpg)

PGIM Quant Solutions Large-Cap Index Fund

Class R6:

PQSIX

SEMIANNUAL SHAREHOLDER REPORT – March 31, 2026

This semiannual shareholder report contains important information about the Class R6 shares of the PGIM Quant Solutions Large-Cap Index

Fund (the "Fund") for the period of October 1, 2025 to March 31, 2026.

You can find additional information about the Fund at

pgim.com/mutual-fund-documents

. You can also request this information by contacting us

at (800) 225-1852 or (973) 367-3529 from outside the U.S.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?

(Based on a hypothetical $10,000 investment)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Quant Solutions Large-Cap Index Fund—Class R6 | $5 | 0.11% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Fund's net assets | $827365084<br>|
| Number of fund holdings | 507 |
| Portfolio turnover rate for the period | 1% |

---

MF174E2R6

![](g125921g5pgimlogo_2026.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 3/31/2026?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 14.3% |
| Software | 8.2% |
| Interactive Media & Services | 7.6% |
| Technology Hardware, Storage & Peripherals | 7.2% |
| Broadline Retail | 3.6% |
| Oil, Gas & Consumable Fuels | 3.6% |
| Financial Services | 3.6% |
| Pharmaceuticals | 3.4% |
| Banks | 3.4% |
| Capital Markets | 3.1% |
| Aerospace & Defense | 2.3% |
| Consumer Staples Distribution & Retail | 2.0% |
| Automobiles | 2.0% |
| Machinery | 1.8% |
| Health Care Equipment & Supplies | 1.8% |
| Hotels, Restaurants & Leisure | 1.7% |
| Biotechnology | 1.7% |
| Specialty Retail | 1.7% |
| Insurance | 1.7% |
| Electric Utilities | 1.6% |
| Health Care Providers & Services | 1.5% |
| Entertainment | 1.3% |
| Electrical Equipment | 1.2% |
| Chemicals | 1.1% |
| Affiliated Mutual Fund - Short-Term Investment | 1.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Beverages | 1.1% |
| Communications Equipment | 1.1% |
| Diversified Telecommunication Services | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Ground Transportation | 0.8% |
| Household Products | 0.8% |
| Life Sciences Tools & Services | 0.8% |
| IT Services | 0.8% |
| Specialized REITs | 0.8% |
| Multi-Utilities | 0.7% |
| Tobacco | 0.6% |
| Unaffiliated Exchange-Traded Fund - Equity | 0.6% |
| Consumer Finance | 0.5% |
| Building Products | 0.5% |
| Metals & Mining | 0.5% |
| Food Products | 0.5% |
| Commercial Services & Supplies | 0.5% |
| Others\* | 5.0% |
|  | 99.9% |
| Other assets in excess of liabilities | 0.1% |
|  | 100.0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* Consists of Industries that each make up less than 0.5% of the Fund's net assets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/mutual-fund-documents

or by scanning the QR code below, including the Fund's prospectus,

financial information, Fund holdings, and proxy voting information. You can also request this information by contacting us at (800) 225-1852 or

(973) 367-3529 from outside the U.S.

![](g125921g5qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/us/en/intermediary/resources/featured/e-delivery

and enroll.

PGIM Quant Solutions Large-Cap Index Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SHARE CLASS R6 <br> NASDAQ PQSIX <br> CUSIP 74441F702

MF174E2R6

![](g125921g5pgimlogo_2026.jpg)

------

![](g125921g6tsrbanner_2026.jpg)

PGIM Securitized Credit Fund

Class A:

SCFOX

SEMIANNUAL SHAREHOLDER REPORT – March 31, 2026

This semiannual shareholder report contains important information about the Class A shares of the PGIM Securitized Credit Fund (the "Fund") for

the period of October 1, 2025 to March 31, 2026.

You can find additional information about the Fund at

pgim.com/mutual-fund-documents

. You can also request this information by contacting us

at (800) 225-1852 or (973) 367-3529 from outside the U.S.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?

(Based on a hypothetical $10,000 investment)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Securitized Credit Fund—Class A | $45 | 0.90% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Fund's net assets | $2704853302<br>|
| Number of fund holdings | 599 |
| Portfolio turnover rate for the period | 37% |

---

MF241E2A

![](g125921g6pgimlogo_2026.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 3/31/2026 (%) | Credit Quality expressed as a percentage of total investments as of 3/31/2026 (%) |
| AAA | 27.2 |
| AA | 30.6 |
| A | 15.1 |
| BBB | 13.8 |
| BB | 8.1 |
| B | 1.1 |
| Not Rated | 4.2 |
| Total | 100.0 |

---

Credit ratings reflect the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody's Investors Service, Inc. (Moody's), S&P Global

Ratings (S&P), or Fitch Ratings, Inc. (Fitch). Credit ratings reflect the common nomenclature used by both S&P and Fitch. Where applicable, ratings are converted to the comparable

S&P/Fitch rating tier nomenclature. The Not Rated category consists of securities that have not been rated by an NRSRO. Credit ratings are subject to change. Values may not sum to

100.0% due to rounding.

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/mutual-fund-documents

or by scanning the QR code below, including the Fund's prospectus,

financial information, Fund holdings, and proxy voting information. You can also request this information by contacting us at (800) 225-1852 or

(973) 367-3529 from outside the U.S.

![](g125921g6qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/us/en/intermediary/resources/featured/e-delivery

and enroll.

PGIM Securitized Credit Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SHARE CLASS A <br> NASDAQ SCFOX <br> CUSIP 74441F801

MF241E2A

![](g125921g6pgimlogo_2026.jpg)

------

![](g125921g7tsrbanner_2026.jpg)

PGIM Securitized Credit Fund

Class C:

SCFVX

SEMIANNUAL SHAREHOLDER REPORT – March 31, 2026

This semiannual shareholder report contains important information about the Class C shares of the PGIM Securitized Credit Fund (the "Fund") for

the period of October 1, 2025 to March 31, 2026.

You can find additional information about the Fund at

pgim.com/mutual-fund-documents

. You can also request this information by contacting us

at (800) 225-1852 or (973) 367-3529 from outside the U.S.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?

(Based on a hypothetical $10,000 investment)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Securitized Credit Fund—Class C | $83 | 1.65% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Fund's net assets | $2704853302<br>|
| Number of fund holdings | 599 |
| Portfolio turnover rate for the period | 37% |

---

MF241E2C

![](g125921g7pgimlogo_2026.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 3/31/2026 (%) | Credit Quality expressed as a percentage of total investments as of 3/31/2026 (%) |
| AAA | 27.2 |
| AA | 30.6 |
| A | 15.1 |
| BBB | 13.8 |
| BB | 8.1 |
| B | 1.1 |
| Not Rated | 4.2 |
| Total | 100.0 |

---

Credit ratings reflect the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody's Investors Service, Inc. (Moody's), S&P Global

Ratings (S&P), or Fitch Ratings, Inc. (Fitch). Credit ratings reflect the common nomenclature used by both S&P and Fitch. Where applicable, ratings are converted to the comparable

S&P/Fitch rating tier nomenclature. The Not Rated category consists of securities that have not been rated by an NRSRO. Credit ratings are subject to change. Values may not sum to

100.0% due to rounding.

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/mutual-fund-documents

or by scanning the QR code below, including the Fund's prospectus,

financial information, Fund holdings, and proxy voting information. You can also request this information by contacting us at (800) 225-1852 or

(973) 367-3529 from outside the U.S.

![](g125921g7qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/us/en/intermediary/resources/featured/e-delivery

and enroll.

PGIM Securitized Credit Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SHARE CLASS C <br> NASDAQ SCFVX <br> CUSIP 74441F884

MF241E2C

![](g125921g7pgimlogo_2026.jpg)

------

![](g125921g8tsrbanner_2026.jpg)

PGIM Securitized Credit Fund

Class Z:

SCFZX

SEMIANNUAL SHAREHOLDER REPORT – March 31, 2026

This semiannual shareholder report contains important information about the Class Z shares of the PGIM Securitized Credit Fund (the "Fund") for

the period of October 1, 2025 to March 31, 2026.

You can find additional information about the Fund at

pgim.com/mutual-fund-documents

. You can also request this information by contacting us

at (800) 225-1852 or (973) 367-3529 from outside the U.S.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?

(Based on a hypothetical $10,000 investment)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Securitized Credit Fund—Class Z | $33 | 0.65% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Fund's net assets | $2704853302<br>|
| Number of fund holdings | 599 |
| Portfolio turnover rate for the period | 37% |

---

MF241E2Z

![](g125921g8pgimlogo_2026.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 3/31/2026 (%) | Credit Quality expressed as a percentage of total investments as of 3/31/2026 (%) |
| AAA | 27.2 |
| AA | 30.6 |
| A | 15.1 |
| BBB | 13.8 |
| BB | 8.1 |
| B | 1.1 |
| Not Rated | 4.2 |
| Total | 100.0 |

---

Credit ratings reflect the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody's Investors Service, Inc. (Moody's), S&P Global

Ratings (S&P), or Fitch Ratings, Inc. (Fitch). Credit ratings reflect the common nomenclature used by both S&P and Fitch. Where applicable, ratings are converted to the comparable

S&P/Fitch rating tier nomenclature. The Not Rated category consists of securities that have not been rated by an NRSRO. Credit ratings are subject to change. Values may not sum to

100.0% due to rounding.

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/mutual-fund-documents

or by scanning the QR code below, including the Fund's prospectus,

financial information, Fund holdings, and proxy voting information. You can also request this information by contacting us at (800) 225-1852 or

(973) 367-3529 from outside the U.S.

![](g125921g8qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/us/en/intermediary/resources/featured/e-delivery

and enroll.

PGIM Securitized Credit Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SHARE CLASS Z <br> NASDAQ SCFZX <br> CUSIP 74441F876

MF241E2Z

![](g125921g8pgimlogo_2026.jpg)

------

![](g125921g9tsrbanner_2026.jpg)

PGIM Securitized Credit Fund

Class R6:

SCFQX

SEMIANNUAL SHAREHOLDER REPORT – March 31, 2026

This semiannual shareholder report contains important information about the Class R6 shares of the PGIM Securitized Credit Fund (the "Fund")

for the period of October 1, 2025 to March 31, 2026.

You can find additional information about the Fund at

pgim.com/mutual-fund-documents

. You can also request this information by contacting us

at (800) 225-1852 or (973) 367-3529 from outside the U.S.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?

(Based on a hypothetical $10,000 investment)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Securitized Credit Fund—Class R6 | $30 | 0.60% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Fund's net assets | $2704853302<br>|
| Number of fund holdings | 599 |
| Portfolio turnover rate for the period | 37% |

---

MF241E2R6

![](g125921g9pgimlogo_2026.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 3/31/2026?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 3/31/2026 (%) | Credit Quality expressed as a percentage of total investments as of 3/31/2026 (%) |
| AAA | 27.2 |
| AA | 30.6 |
| A | 15.1 |
| BBB | 13.8 |
| BB | 8.1 |
| B | 1.1 |
| Not Rated | 4.2 |
| Total | 100.0 |

---

Credit ratings reflect the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody's Investors Service, Inc. (Moody's), S&P Global

Ratings (S&P), or Fitch Ratings, Inc. (Fitch). Credit ratings reflect the common nomenclature used by both S&P and Fitch. Where applicable, ratings are converted to the comparable

S&P/Fitch rating tier nomenclature. The Not Rated category consists of securities that have not been rated by an NRSRO. Credit ratings are subject to change. Values may not sum to

100.0% due to rounding.

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/mutual-fund-documents

or by scanning the QR code below, including the Fund's prospectus,

financial information, Fund holdings, and proxy voting information. You can also request this information by contacting us at (800) 225-1852 or

(973) 367-3529 from outside the U.S.

![](g125921g9qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/us/en/intermediary/resources/featured/e-delivery

and enroll.

PGIM Securitized Credit Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SHARE CLASS R6 <br> NASDAQ SCFQX <br> CUSIP 74441F868

MF241E2R6

![](g125921g9pgimlogo_2026.jpg)

------

(b) Copy of each notice transmitted to stockholders in reliance on Rule 30e-3 under the Act (17 CFR 270.30e-3) that contains disclosures specified by paragraph (c)(3) of that rule – Not applicable.

Item 2 – Code of Ethics – Not required, as this is not an annual filing.

Item 3 – Audit Committee Financial Expert – Not required, as this is not an annual filing.

Item 4 – Principal Accountant Fees and Services – Not required, as this is not an annual filing.

Item 5 – Audit Committee of Listed Registrants – Not applicable.

Item 6 – Investments – The registrant's Schedule of Investments is included in the financial statements filed under Item 7 of this Form.

Items 7 – 11 (Refer to Report(s) below)

------

![LOGO](g125921g85v88.jpg)

## PRUDENTIAL INVESTMENT PORTFOLIOS 8
PGIM Quant Solutions Large-Cap Index Fund

#### FINANCIAL STATEMENTS AND OTHER INFORMATION

#### MARCH 31, 2026
![LOGO](g125921g10w05.jpg)

------

<u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Table of Contents** </u>   <u> Financial Statements and Other Information </u>   <u> March 31, 2026 </u>

**Form N-CSR Item 7** - Financial Statements and Financial Highlights for Open-End Management Investment Companies.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [PGIM Quant Solutions Large-Cap Index Fund](#edgar125921_1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Notes to Financial Statements](#edgar125921_2) | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Other Information -](#edgar125921_3)**[Form N-CSR Items 8-11](#edgar125921_3) |  |

---

------

Schedule of Investments (unaudited)

as of March 31, 2026

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 98.6%** |  |  |
| &nbsp;&nbsp; **COMMON STOCKS 98.0%** |  |  |
| &nbsp;&nbsp; **Aerospace & Defense 2.3%** |  |  |
| &nbsp;&nbsp; Axon Enterprise, Inc.\* | 1140 | $484147 |
| &nbsp;&nbsp; Boeing Co. (The)\* | 11344 | 2257796 |
| &nbsp;&nbsp; General Dynamics Corp. | 3632 | 1246575 |
| &nbsp;&nbsp; General Electric Co. | 15200 | 4313304 |
| &nbsp;&nbsp; Howmet Aerospace, Inc. | 5681 | 1309243 |
| &nbsp;&nbsp; Huntington Ingalls Industries, Inc. | 600 | 227940 |
| &nbsp;&nbsp; L3Harris Technologies, Inc. | 2816 | 971942 |
| &nbsp;&nbsp; Lockheed Martin Corp. | 2966 | 1792621 |
| &nbsp;&nbsp; Northrop Grumman Corp. | 1928 | 1315359 |
| &nbsp;&nbsp; RTX Corp. | 19431 | 3748240 |
| &nbsp;&nbsp; Textron, Inc. | 2534 | 221877 |
| &nbsp;&nbsp; TransDigm Group, Inc. | 840 | 973526 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18862570 |
| &nbsp;&nbsp; **Air Freight & Logistics 0.3%** |  |  |
| &nbsp;&nbsp; C.H. Robinson Worldwide, Inc. | 1700 | 282319 |
| &nbsp;&nbsp; Expeditors International of Washington, Inc. | 1900 | 272137 |
| &nbsp;&nbsp; FedEx Corp. | 3246 | 1156160 |
| &nbsp;&nbsp; United Parcel Service, Inc. (Class B Stock) | 10690 | 1051682 |
|  |  | 2762298 |
| &nbsp;&nbsp; **Automobile Components 0.0%** |  |  |
| &nbsp;&nbsp; Aptiv PLC\* | 3250 | 225680 |
| &nbsp;&nbsp; **Automobiles 2.0%** |  |  |
| &nbsp;&nbsp; Ford Motor Co. | 58438 | 674375 |
| &nbsp;&nbsp; General Motors Co. | 13200 | 983400 |
| &nbsp;&nbsp; Tesla, Inc.\* | 40770 | 15156247 |
|  |  | 16814022 |
| &nbsp;&nbsp; **Banks 3.4%** |  |  |
| &nbsp;&nbsp; Bank of America Corp. | 96195 | 4689506 |
| &nbsp;&nbsp; Citigroup, Inc. | 25295 | 2868706 |
| &nbsp;&nbsp; Citizens Financial Group, Inc. | 6500 | 389805 |
| &nbsp;&nbsp; Fifth Third Bancorp | 13373 | 621310 |
| &nbsp;&nbsp; Huntington Bancshares, Inc. | 30329 | 474649 |
| &nbsp;&nbsp; JPMorgan Chase & Co. | 39103 | 11502538 |
| &nbsp;&nbsp; KeyCorp | 13935 | 279397 |
| &nbsp;&nbsp; M&T Bank Corp. | 2155 | 445482 |
| &nbsp;&nbsp; PNC Financial Services Group, Inc. (The) | 5772 | 1201095 |
| &nbsp;&nbsp; Regions Financial Corp. | 12774 | 333657 |
| &nbsp;&nbsp; Truist Financial Corp. | 18472 | 849158 |
| &nbsp;&nbsp; U.S. Bancorp | 22795 | 1185568 |
| &nbsp;&nbsp; Wells Fargo & Co. | 44836 | 3569394 |
|  |  | 28410265 |
| &nbsp;&nbsp; **Beverages 1.1%** |  |  |
| &nbsp;&nbsp; Brown-Forman Corp. (Class B Stock) | 2550 | 67422 |
| &nbsp;&nbsp; Coca-Cola Co. (The) | 56164 | 4271272 |
| &nbsp;&nbsp; Constellation Brands, Inc. (Class A Stock) | 2070 | 310500 |
| &nbsp;&nbsp; Keurig Dr. Pepper, Inc. | 19900 | 523967 |
| &nbsp;&nbsp; Molson Coors Beverage Co. (Class B Stock) | 2894 | 124616 |
| &nbsp;&nbsp; Monster Beverage Corp.\* | 10490 | 760105 |
| &nbsp;&nbsp; PepsiCo, Inc. | 19841 | 3081109 |
|  |  | 9138991 |

---

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 1

------

**Schedule of Investments** (unaudited) (continued)

as of March 31, 2026

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Biotechnology 1.7%** |  |  |
| &nbsp;&nbsp; AbbVie, Inc. | 25589 | $5565352 |
| &nbsp;&nbsp; Amgen, Inc. | 7796 | 2743023 |
| &nbsp;&nbsp; Biogen, Inc.\* | 2080 | 381326 |
| &nbsp;&nbsp; Gilead Sciences, Inc. | 18000 | 2508660 |
| &nbsp;&nbsp; Incyte Corp.\* | 2420 | 227770 |
| &nbsp;&nbsp; Moderna, Inc.\* | 5140 | 261112 |
| &nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 1460 | 1128054 |
| &nbsp;&nbsp; Vertex Pharmaceuticals, Inc.\* | 3660 | 1634337 |
|  |  | 14449634 |
| &nbsp;&nbsp; **Broadline Retail 3.6%** |  |  |
| &nbsp;&nbsp; Amazon.com, Inc.\* | 141700 | 29511859 |
| &nbsp;&nbsp; eBay, Inc. | 6640 | 604373 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30116232 |
| &nbsp;&nbsp; **Building Products 0.5%** |  |  |
| &nbsp;&nbsp; A.O. Smith Corp. | 1800 | 118692 |
| &nbsp;&nbsp; Allegion PLC | 1133 | 164613 |
| &nbsp;&nbsp; Builders FirstSource, Inc.\* | 1500 | 123495 |
| &nbsp;&nbsp; Carrier Global Corp. | 11629 | 654829 |
| &nbsp;&nbsp; Johnson Controls International PLC | 8887 | 1163753 |
| &nbsp;&nbsp; Lennox International, Inc. | 460 | 213500 |
| &nbsp;&nbsp; Masco Corp. | 3026 | 182680 |
| &nbsp;&nbsp; Trane Technologies PLC | 3200 | 1333568 |
|  |  | 3955130 |
| &nbsp;&nbsp; **Capital Markets 3.1%** |  |  |
| &nbsp;&nbsp; Ameriprise Financial, Inc. | 1341 | 595940 |
| &nbsp;&nbsp; Ares Management Corp. (Class A Stock) | 2900 | 316390 |
| &nbsp;&nbsp; Bank of New York Mellon Corp. (The) | 10038 | 1190808 |
| &nbsp;&nbsp; Blackrock, Inc. | 2080 | 2000357 |
| &nbsp;&nbsp; Blackstone, Inc. | 11000 | 1264890 |
| &nbsp;&nbsp; Cboe Global Markets, Inc. | 1500 | 421605 |
| &nbsp;&nbsp; Charles Schwab Corp. (The) | 24211 | 2275350 |
| &nbsp;&nbsp; CME Group, Inc. | 5100 | 1506285 |
| &nbsp;&nbsp; Coinbase Global, Inc. (Class A Stock)\* | 3200 | 558752 |
| &nbsp;&nbsp; FactSet Research Systems, Inc. | 400 | 86796 |
| &nbsp;&nbsp; Franklin Resources, Inc. | 4642 | 109644 |
| &nbsp;&nbsp; Goldman Sachs Group, Inc. (The) | 4340 | 3671597 |
| &nbsp;&nbsp; Interactive Brokers Group, Inc. (Class A Stock) | 6500 | 435955 |
| &nbsp;&nbsp; Intercontinental Exchange, Inc. | 8100 | 1273968 |
| &nbsp;&nbsp; Invesco Ltd. | 6500 | 157885 |
| &nbsp;&nbsp; KKR & Co., Inc. | 9900 | 915750 |
| &nbsp;&nbsp; Moody's Corp. | 2166 | 944918 |
| &nbsp;&nbsp; Morgan Stanley | 17390 | 2861872 |
| &nbsp;&nbsp; MSCI, Inc. | 1070 | 576741 |
| &nbsp;&nbsp; Nasdaq, Inc. | 6600 | 560274 |
| &nbsp;&nbsp; Northern Trust Corp. | 2562 | 357578 |
| &nbsp;&nbsp; Raymond James Financial, Inc. | 2500 | 361975 |
| &nbsp;&nbsp; Robinhood Markets, Inc. (Class A Stock)\* | 11500 | 796950 |
| &nbsp;&nbsp; S&P Global, Inc. | 4560 | 1939550 |
| &nbsp;&nbsp; State Street Corp. | 4062 | 514087 |
| &nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Group, Inc. | 3100 | 279434 |
|  |  | 25975351 |
| &nbsp;&nbsp; **Chemicals 1.1%** |  |  |
| &nbsp;&nbsp; Air Products & Chemicals, Inc. | 3102 | 901100 |
| &nbsp;&nbsp; Albemarle Corp. | 1640 | 294429 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Chemicals (cont'd.)** |  |  |
| &nbsp;&nbsp; CF Industries Holdings, Inc. | 2200 | $285648 |
| &nbsp;&nbsp; Corteva, Inc. | 9909 | 829482 |
| &nbsp;&nbsp; Dow, Inc. | 10809 | 450195 |
| &nbsp;&nbsp; DuPont de Nemours, Inc. | 6209 | 284372 |
| &nbsp;&nbsp; Ecolab, Inc. | 3642 | 968845 |
| &nbsp;&nbsp; International Flavors & Fragrances, Inc. | 3715 | 269523 |
| &nbsp;&nbsp; Linde PLC | 6668 | 3305728 |
| &nbsp;&nbsp; LyondellBasell Industries NV (Class A Stock) | 3700 | 298072 |
| &nbsp;&nbsp; Mosaic Co. (The) | 5300 | 135150 |
| &nbsp;&nbsp; PPG Industries, Inc. | 3348 | 357834 |
| &nbsp;&nbsp; Sherwin-Williams Co. (The) | 3288 | 1053969 |
|  |  | 9434347 |
| &nbsp;&nbsp; **Commercial Services & Supplies 0.5%** |  |  |
| &nbsp;&nbsp; Cintas Corp. | 4940 | 835551 |
| &nbsp;&nbsp; Copart, Inc.\* | 13500 | 448200 |
| &nbsp;&nbsp; Republic Services, Inc. | 3035 | 664726 |
| &nbsp;&nbsp; Rollins, Inc. | 4275 | 228328 |
| &nbsp;&nbsp; Veralto Corp. | 3540 | 313007 |
| &nbsp;&nbsp; Waste Management, Inc. | 5413 | 1243853 |
|  |  | 3733665 |
| &nbsp;&nbsp; **Communications Equipment 1.1%** |  |  |
| &nbsp;&nbsp; Arista Networks, Inc.\* | 14920 | 1831878 |
| &nbsp;&nbsp; Ciena Corp.\* | 2000 | 776460 |
| &nbsp;&nbsp; Cisco Systems, Inc. | 57344 | 4449321 |
| &nbsp;&nbsp; F5, Inc.\* | 700 | 202531 |
| &nbsp;&nbsp; Lumentum Holdings, Inc.\* | 1040 | 730870 |
| &nbsp;&nbsp; Motorola Solutions, Inc. | 2356 | 1022433 |
|  |  | 9013493 |
| &nbsp;&nbsp; **Construction & Engineering 0.3%** |  |  |
| &nbsp;&nbsp; Comfort Systems USA, Inc. | 500 | 689495 |
| &nbsp;&nbsp; EMCOR Group, Inc. | 640 | 472518 |
| &nbsp;&nbsp; Quanta Services, Inc. | 2180 | 1196864 |
|  |  | 2358877 |
| &nbsp;&nbsp; **Construction Materials 0.3%** |  |  |
| &nbsp;&nbsp; CRH PLC | 9800 | 1030176 |
| &nbsp;&nbsp; Martin Marietta Materials, Inc. | 880 | 518038 |
| &nbsp;&nbsp; Vulcan Materials Co. | 1900 | 517370 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065584 |
| &nbsp;&nbsp; **Consumer Finance 0.5%** |  |  |
| &nbsp;&nbsp; American Express Co. | 7799 | 2359041 |
| &nbsp;&nbsp; Capital One Financial Corp. | 8964 | 1635303 |
| &nbsp;&nbsp; Synchrony Financial | 5365 | 364927 |
|  |  | 4359271 |
| &nbsp;&nbsp; **Consumer Staples Distribution & Retail 2.0%** |  |  |
| &nbsp;&nbsp; Costco Wholesale Corp. | 6428 | 6405052 |
| &nbsp;&nbsp; Dollar General Corp. | 3300 | 391809 |
| &nbsp;&nbsp; Dollar Tree, Inc.\* | 2742 | 300277 |
| &nbsp;&nbsp; Kroger Co. (The) | 8468 | 612745 |
| &nbsp;&nbsp; Sysco Corp. | 6980 | 497883 |

---

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 3

------

**Schedule of Investments** (unaudited) (continued)

as of March 31, 2026

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Consumer Staples Distribution & Retail (cont'd.)** |  |  |
| &nbsp;&nbsp; Target Corp. | 6682 | $809858 |
| &nbsp;&nbsp; Walmart, Inc. | 63558 | 7898988 |
|  |  | 16916612 |
| &nbsp;&nbsp; **Containers & Packaging 0.2%** |  |  |
| &nbsp;&nbsp; Amcor PLC | 7012 | 278727 |
| &nbsp;&nbsp; Avery Dennison Corp. | 1038 | 179242 |
| &nbsp;&nbsp; Ball Corp. | 4128 | 244006 |
| &nbsp;&nbsp; International Paper Co. | 7984 | 285029 |
| &nbsp;&nbsp; Packaging Corp. of America | 1270 | 269519 |
| &nbsp;&nbsp; Smurfit Westrock PLC | 7833 | 312145 |
|  |  | 1568668 |
| &nbsp;&nbsp; **Distributors 0.0%** |  |  |
| &nbsp;&nbsp; Genuine Parts Co. | 1999 | 211394 |
| &nbsp;&nbsp; Pool Corp. | 420 | 84979 |
|  |  | 296373 |
| &nbsp;&nbsp; **Diversified Telecommunication Services 0.9%** |  |  |
| &nbsp;&nbsp; AT&T, Inc. | 101507 | 2942688 |
| &nbsp;&nbsp; Comcast Corp. (Class A Stock) | 52620 | 1510720 |
| &nbsp;&nbsp; Verizon Communications, Inc. | 61133 | 3068877 |
|  |  | 7522285 |
| &nbsp;&nbsp; **Electric Utilities 1.7%** |  |  |
| &nbsp;&nbsp; Alliant Energy Corp. | 3900 | 279864 |
| &nbsp;&nbsp; American Electric Power Co., Inc. | 7891 | 1034352 |
| &nbsp;&nbsp; Constellation Energy Corp. | 4503 | 1257463 |
| &nbsp;&nbsp; Duke Energy Corp. | 11239 | 1471635 |
| &nbsp;&nbsp; Edison International | 5462 | 399709 |
| &nbsp;&nbsp; Entergy Corp. | 6730 | 756183 |
| &nbsp;&nbsp; Evergy, Inc. | 3500 | 286720 |
| &nbsp;&nbsp; Eversource Energy | 5600 | 387968 |
| &nbsp;&nbsp; Exelon Corp. | 14812 | 726084 |
| &nbsp;&nbsp; FirstEnergy Corp. | 7977 | 404115 |
| &nbsp;&nbsp; NextEra Energy, Inc. | 30228 | 2807577 |
| &nbsp;&nbsp; NRG Energy, Inc. | 3000 | 438420 |
| &nbsp;&nbsp; PG&E Corp. | 32200 | 565754 |
| &nbsp;&nbsp; Pinnacle West Capital Corp. | 1700 | 171275 |
| &nbsp;&nbsp; PPL Corp. | 11252 | 429826 |
| &nbsp;&nbsp; Southern Co. (The) | 15915 | 1536116 |
| &nbsp;&nbsp; Xcel Energy, Inc. | 8683 | 689777 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13642838 |
| &nbsp;&nbsp; **Electrical Equipment 1.2%** |  |  |
| &nbsp;&nbsp; AMETEK, Inc. | 3300 | 707388 |
| &nbsp;&nbsp; Eaton Corp. PLC | 5493 | 1964681 |
| &nbsp;&nbsp; Emerson Electric Co. | 8150 | 1067813 |
| &nbsp;&nbsp; GE Vernova, Inc. | 3900 | 3404310 |
| &nbsp;&nbsp; Generac Holdings, Inc.\* | 900 | 175797 |
| &nbsp;&nbsp; Hubbell, Inc. | 700 | 343518 |
| &nbsp;&nbsp; Rockwell Automation, Inc. | 1543 | 553752 |
| &nbsp;&nbsp; Vertiv Holdings Co. (Class A Stock) | 5600 | 1403248 |
|  |  | 9620507 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Electronic Equipment, Instruments & Components 0.9%** |  |  |
| &nbsp;&nbsp; Amphenol Corp. (Class A Stock) | 17800 | $2249030 |
| &nbsp;&nbsp; CDW Corp. | 1900 | 229938 |
| &nbsp;&nbsp; Coherent Corp.\* | 2700 | 643167 |
| &nbsp;&nbsp; Corning, Inc. | 11297 | 1536053 |
| &nbsp;&nbsp; Jabil, Inc. | 1400 | 371882 |
| &nbsp;&nbsp; Keysight Technologies, Inc.\* | 2500 | 705925 |
| &nbsp;&nbsp; TE Connectivity PLC (Switzerland) | 4250 | 888335 |
| &nbsp;&nbsp; Teledyne Technologies, Inc.\* | 668 | 404147 |
| &nbsp;&nbsp; Zebra Technologies Corp. (Class A Stock)\* | 620 | 129629 |
|  |  | 7158106 |
| &nbsp;&nbsp; **Energy Equipment & Services 0.3%** |  |  |
| &nbsp;&nbsp; Baker Hughes Co. | 14445 | 881867 |
| &nbsp;&nbsp; Halliburton Co. | 12222 | 476536 |
| &nbsp;&nbsp; SLB Ltd. | 21932 | 1127086 |
|  |  | 2485489 |
| &nbsp;&nbsp; **Entertainment 1.3%** |  |  |
| &nbsp;&nbsp; Electronic Arts, Inc. | 3600 | 733932 |
| &nbsp;&nbsp; Live Nation Entertainment, Inc.\* | 2200 | 335522 |
| &nbsp;&nbsp; Netflix, Inc.\* | 61200 | 5884380 |
| &nbsp;&nbsp; Take-Two Interactive Software, Inc.\* | 2400 | 474000 |
| &nbsp;&nbsp; TKO Group Holdings, Inc. | 900 | 181485 |
| &nbsp;&nbsp; Walt Disney Co. (The) | 25636 | 2470798 |
| &nbsp;&nbsp; Warner Bros Discovery, Inc.\* | 36385 | 999132 |
|  |  | 11079249 |
| &nbsp;&nbsp; **Financial Services 3.6%** |  |  |
| &nbsp;&nbsp; Apollo Global Management, Inc. | 6800 | 757656 |
| &nbsp;&nbsp; Berkshire Hathaway, Inc. (Class B Stock)\* | 26630 | 12761096 |
| &nbsp;&nbsp; Block, Inc.\* | 8000 | 481440 |
| &nbsp;&nbsp; Corpay, Inc.\* | 920 | 267711 |
| &nbsp;&nbsp; Fidelity National Information Services, Inc. | 7960 | 373404 |
| &nbsp;&nbsp; Fiserv, Inc.\* | 7900 | 440820 |
| &nbsp;&nbsp; Global Payments, Inc. | 3694 | 248606 |
| &nbsp;&nbsp; Jack Henry & Associates, Inc. | 1100 | 173844 |
| &nbsp;&nbsp; Mastercard, Inc. (Class A Stock) | 11820 | 5905981 |
| &nbsp;&nbsp; PayPal Holdings, Inc. | 13430 | 607439 |
| &nbsp;&nbsp; Visa, Inc. (Class A Stock) | 24400 | 7374656 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29392653 |
| &nbsp;&nbsp; **Food Products 0.5%** |  |  |
| &nbsp;&nbsp; Archer-Daniels-Midland Co. | 6859 | 498581 |
| &nbsp;&nbsp; Bunge Global SA | 2000 | 254400 |
| &nbsp;&nbsp; Campbell's Co. (The) | 3547 | 78992 |
| &nbsp;&nbsp; Conagra Brands, Inc. | 8143 | 128008 |
| &nbsp;&nbsp; General Mills, Inc. | 8144 | 303119 |
| &nbsp;&nbsp; Hershey Co. (The) | 2016 | 419106 |
| &nbsp;&nbsp; Hormel Foods Corp. | 4400 | 99660 |
| &nbsp;&nbsp; J.M. Smucker Co. (The) | 1570 | 151411 |
| &nbsp;&nbsp; Kraft Heinz Co. (The) | 12955 | 291358 |
| &nbsp;&nbsp; McCormick & Co., Inc. | 3700 | 186628 |
| &nbsp;&nbsp; Mondelez International, Inc. (Class A Stock) | 18866 | 1087436 |
| &nbsp;&nbsp; Tyson Foods, Inc. (Class A Stock) | 4100 | 262687 |
|  |  | 3761386 |

---

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 5

------

**Schedule of Investments** (unaudited) (continued)

as of March 31, 2026

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Gas Utilities 0.1%** |  |  |
| &nbsp;&nbsp; Atmos Energy Corp. | 2400 | $443328 |
| &nbsp;&nbsp; **Ground Transportation 0.8%** |  |  |
| &nbsp;&nbsp; CSX Corp. | 26954 | 1106461 |
| &nbsp;&nbsp; J.B. Hunt Transport Services, Inc. | 1050 | 222495 |
| &nbsp;&nbsp; Norfolk Southern Corp. | 3231 | 927297 |
| &nbsp;&nbsp; Old Dominion Freight Line, Inc. | 2600 | 508040 |
| &nbsp;&nbsp; Uber Technologies, Inc.\* | 29800 | 2143514 |
| &nbsp;&nbsp; Union Pacific Corp. | 8556 | 2075857 |
|  |  | 6983664 |
| &nbsp;&nbsp; **Health Care Equipment & Supplies 1.8%** |  |  |
| &nbsp;&nbsp; Abbott Laboratories | 25213 | 2588619 |
| &nbsp;&nbsp; Align Technology, Inc.\* | 1010 | 173144 |
| &nbsp;&nbsp; Baxter International, Inc. | 7774 | 130603 |
| &nbsp;&nbsp; Becton, Dickinson & Co. | 4165 | 654863 |
| &nbsp;&nbsp; Boston Scientific Corp.\* | 21372 | 1341093 |
| &nbsp;&nbsp; Cooper Cos., Inc. (The)\* | 2900 | 207350 |
| &nbsp;&nbsp; Dexcom, Inc.\* | 5620 | 352936 |
| &nbsp;&nbsp; Edwards Lifesciences Corp.\* | 8610 | 689489 |
| &nbsp;&nbsp; GE HealthCare Technologies, Inc. | 6500 | 462670 |
| &nbsp;&nbsp; Hologic, Inc.\* | 3400 | 257006 |
| &nbsp;&nbsp; IDEXX Laboratories, Inc.\* | 1180 | 663030 |
| &nbsp;&nbsp; Insulet Corp.\* | 900 | 188856 |
| &nbsp;&nbsp; Intuitive Surgical, Inc.\* | 5200 | 2397148 |
| &nbsp;&nbsp; Medtronic PLC | 18815 | 1630320 |
| &nbsp;&nbsp; ResMed, Inc. | 1990 | 446715 |
| &nbsp;&nbsp; Solventum Corp.\* | 2372 | 154892 |
| &nbsp;&nbsp; STERIS PLC | 1400 | 309582 |
| &nbsp;&nbsp; Stryker Corp. | 4860 | 1596947 |
| &nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | 3011 | 272255 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14517518 |
| &nbsp;&nbsp; **Health Care Providers & Services 1.5%** |  |  |
| &nbsp;&nbsp; Cardinal Health, Inc. | 3373 | 712749 |
| &nbsp;&nbsp; Cencora, Inc. | 2760 | 867026 |
| &nbsp;&nbsp; Centene Corp.\* | 7008 | 229442 |
| &nbsp;&nbsp; Cigna Group (The) | 3868 | 1031789 |
| &nbsp;&nbsp; CVS Health Corp. | 18646 | 1339156 |
| &nbsp;&nbsp; DaVita, Inc.\* | 400 | 61476 |
| &nbsp;&nbsp; Elevance Health, Inc. | 3310 | 969002 |
| &nbsp;&nbsp; HCA Healthcare, Inc. | 2200 | 1041128 |
| &nbsp;&nbsp; Henry Schein, Inc.\* | 1600 | 117920 |
| &nbsp;&nbsp; Humana, Inc. | 1700 | 294763 |
| &nbsp;&nbsp; Labcorp Holdings, Inc. | 1200 | 320172 |
| &nbsp;&nbsp; McKesson Corp. | 1786 | 1545533 |
| &nbsp;&nbsp; Quest Diagnostics, Inc. | 1700 | 333166 |
| &nbsp;&nbsp; UnitedHealth Group, Inc. | 13098 | 3544188 |
| &nbsp;&nbsp; Universal Health Services, Inc. (Class B Stock) | 770 | 137807 |
|  |  | 12545317 |
| &nbsp;&nbsp; **Health Care REITs 0.3%** |  |  |
| &nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 2300 | 106766 |
| &nbsp;&nbsp; Healthpeak Properties, Inc. | 11200 | 184016 |
| &nbsp;&nbsp; Ventas, Inc. | 6933 | 566981 |
| &nbsp;&nbsp; Welltower, Inc. | 10000 | 1977100 |
|  |  | 2834863 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Hotel & Resort REITs 0.0%** |  |  |
| &nbsp;&nbsp; Host Hotels & Resorts, Inc. | 9336 | $178878 |
| &nbsp;&nbsp; **Hotels, Restaurants & Leisure 1.7%** |  |  |
| &nbsp;&nbsp; Airbnb, Inc. (Class A Stock)\* | 6100 | 770308 |
| &nbsp;&nbsp; Booking Holdings, Inc. | 470 | 1978850 |
| &nbsp;&nbsp; Carnival Corp. | 16500 | 427020 |
| &nbsp;&nbsp; Chipotle Mexican Grill, Inc.\* | 19050 | 609790 |
| &nbsp;&nbsp; Darden Restaurants, Inc. | 1653 | 324054 |
| &nbsp;&nbsp; Domino's Pizza, Inc. | 440 | 157868 |
| &nbsp;&nbsp; DoorDash, Inc. (Class A Stock)\* | 5400 | 810810 |
| &nbsp;&nbsp; Expedia Group, Inc. | 1600 | 369424 |
| &nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | 3360 | 1021709 |
| &nbsp;&nbsp; Las Vegas Sands Corp. | 4560 | 245693 |
| &nbsp;&nbsp; Marriott International, Inc. (Class A Stock) | 3240 | 1059707 |
| &nbsp;&nbsp; McDonald's Corp. | 10380 | 3226000 |
| &nbsp;&nbsp; MGM Resorts International\* | 2800 | 103628 |
| &nbsp;&nbsp; Norwegian Cruise Line Holdings Ltd.\* | 6700 | 125290 |
| &nbsp;&nbsp; Royal Caribbean Cruises Ltd. | 3600 | 990648 |
| &nbsp;&nbsp; Starbucks Corp. | 16680 | 1494361 |
| &nbsp;&nbsp; Wynn Resorts Ltd. | 1300 | 132015 |
| &nbsp;&nbsp; Yum! Brands, Inc. | 3964 | 616323 |
|  |  | 14463498 |
| &nbsp;&nbsp; **Household Durables 0.2%** |  |  |
| &nbsp;&nbsp; D.R. Horton, Inc. | 3800 | 521436 |
| &nbsp;&nbsp; Garmin Ltd. | 2300 | 533623 |
| &nbsp;&nbsp; Lennar Corp. (Class A Stock) | 3200 | 277888 |
| &nbsp;&nbsp; NVR, Inc.\* | 35 | 230644 |
| &nbsp;&nbsp; PulteGroup, Inc. | 2811 | 330602 |
|  |  | 1894193 |
| &nbsp;&nbsp; **Household Products 0.8%** |  |  |
| &nbsp;&nbsp; Church & Dwight Co., Inc. | 3600 | 335952 |
| &nbsp;&nbsp; Clorox Co. (The) | 1682 | 174305 |
| &nbsp;&nbsp; Colgate-Palmolive Co. | 11860 | 1010828 |
| &nbsp;&nbsp; Kimberly-Clark Corp. | 4866 | 469423 |
| &nbsp;&nbsp; Procter & Gamble Co. (The) | 33663 | 4862284 |
|  |  | 6852792 |
| &nbsp;&nbsp; **Independent Power & Renewable Electricity Producers 0.1%** |  |  |
| &nbsp;&nbsp; AES Corp. (The) | 10800 | 152172 |
| &nbsp;&nbsp; Vistra Corp. | 4600 | 691518 |
|  |  | 843690 |
| &nbsp;&nbsp; **Industrial Conglomerates 0.4%** |  |  |
| &nbsp;&nbsp; 3M Co. | 7688 | 1116528 |
| &nbsp;&nbsp; Honeywell International, Inc. | 9085 | 2053483 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3170011 |
| &nbsp;&nbsp; **Industrial REITs 0.2%** |  |  |
| &nbsp;&nbsp; Prologis, Inc. | 13489 | 1782976 |
| &nbsp;&nbsp; **Insurance 1.7%** |  |  |
| &nbsp;&nbsp; Aflac, Inc. | 6700 | 735057 |
| &nbsp;&nbsp; Allstate Corp. (The) | 3808 | 789551 |
| &nbsp;&nbsp; American International Group, Inc. | 7651 | 575738 |
| &nbsp;&nbsp; Aon PLC (Class A Stock) | 3089 | 997067 |

---

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 7

------

**Schedule of Investments** (unaudited) (continued)

as of March 31, 2026

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Insurance (cont'd.)** |  |  |
| &nbsp;&nbsp; Arch Capital Group Ltd.\* | 5300 | $508747 |
| &nbsp;&nbsp; Arthur J. Gallagher & Co. | 3700 | 801346 |
| &nbsp;&nbsp; Assurant, Inc. | 700 | 152467 |
| &nbsp;&nbsp; Brown & Brown, Inc. | 4400 | 286924 |
| &nbsp;&nbsp; Chubb Ltd. | 5253 | 1712110 |
| &nbsp;&nbsp; Cincinnati Financial Corp. | 2207 | 347271 |
| &nbsp;&nbsp; Erie Indemnity Co. (Class A Stock) | 240 | 60314 |
| &nbsp;&nbsp; Everest Group Ltd. | 610 | 199379 |
| &nbsp;&nbsp; Globe Life, Inc. | 1133 | 157680 |
| &nbsp;&nbsp; Hartford Insurance Group, Inc. (The) | 4053 | 548087 |
| &nbsp;&nbsp; Loews Corp. | 2517 | 268665 |
| &nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 7140 | 1238433 |
| &nbsp;&nbsp; MetLife, Inc. | 8150 | 576368 |
| &nbsp;&nbsp; Principal Financial Group, Inc. | 2900 | 261319 |
| &nbsp;&nbsp; Progressive Corp. (The) | 8516 | 1688212 |
| &nbsp;&nbsp; Prudential Financial, Inc.(g) | 5100 | 498219 |
| &nbsp;&nbsp; Travelers Cos., Inc. (The) | 3131 | 913250 |
| &nbsp;&nbsp; W.R. Berkley Corp. | 4500 | 298260 |
| &nbsp;&nbsp; Willis Towers Watson PLC | 1300 | 377910 |
|  |  | 13992374 |
| &nbsp;&nbsp; **Interactive Media & Services 7.5%** |  |  |
| &nbsp;&nbsp; Alphabet, Inc. (Class A Stock) | 84400 | 24270064 |
| &nbsp;&nbsp; Alphabet, Inc. (Class C Stock) | 67840 | 19460582 |
| &nbsp;&nbsp; Meta Platforms, Inc. (Class A Stock) | 31720 | 18147964 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61878610 |
| &nbsp;&nbsp; **IT Services 0.8%** |  |  |
| &nbsp;&nbsp; Accenture PLC (Class A Stock) | 8790 | 1742969 |
| &nbsp;&nbsp; Akamai Technologies, Inc.\* | 2100 | 241185 |
| &nbsp;&nbsp; Cognizant Technology Solutions Corp. (Class A Stock) | 7100 | 435585 |
| &nbsp;&nbsp; EPAM Systems, Inc.\* | 800 | 108320 |
| &nbsp;&nbsp; Gartner, Inc.\* | 930 | 147256 |
| &nbsp;&nbsp; GoDaddy, Inc. (Class A Stock)\* | 1900 | 157073 |
| &nbsp;&nbsp; International Business Machines Corp. | 13574 | 3290202 |
| &nbsp;&nbsp; VeriSign, Inc. | 1230 | 305483 |
|  |  | 6428073 |
| &nbsp;&nbsp; **Leisure Products 0.0%** |  |  |
| &nbsp;&nbsp; Hasbro, Inc. | 1954 | 182894 |
| &nbsp;&nbsp; **Life Sciences Tools & Services 0.8%** |  |  |
| &nbsp;&nbsp; Agilent Technologies, Inc. | 4098 | 467090 |
| &nbsp;&nbsp; Bio-Techne Corp. | 2480 | 129605 |
| &nbsp;&nbsp; Charles River Laboratories International, Inc.\* | 650 | 112125 |
| &nbsp;&nbsp; Danaher Corp. | 9020 | 1710192 |
| &nbsp;&nbsp; IQVIA Holdings, Inc.\* | 2410 | 411001 |
| &nbsp;&nbsp; Mettler-Toledo International, Inc.\* | 290 | 365748 |
| &nbsp;&nbsp; Revvity, Inc. | 1770 | 155070 |
| &nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 5312 | 2611007 |
| &nbsp;&nbsp; Waters Corp.\* | 1383 | 411857 |
| &nbsp;&nbsp; West Pharmaceutical Services, Inc. | 940 | 235602 |
|  |  | 6609297 |
| &nbsp;&nbsp; **Machinery 1.8%** |  |  |
| &nbsp;&nbsp; Caterpillar, Inc. | 6736 | 4772187 |
| &nbsp;&nbsp; Cummins, Inc. | 2036 | 1095409 |
| &nbsp;&nbsp; Deere & Co. | 3690 | 2078577 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Machinery (cont'd.)** |  |  |
| &nbsp;&nbsp; Dover Corp. | 2062 | $429824 |
| &nbsp;&nbsp; Fortive Corp. | 4750 | 262580 |
| &nbsp;&nbsp; IDEX Corp. | 1000 | 189550 |
| &nbsp;&nbsp; Illinois Tool Works, Inc. | 3786 | 985458 |
| &nbsp;&nbsp; Ingersoll Rand, Inc. | 5229 | 418947 |
| &nbsp;&nbsp; Nordson Corp. | 700 | 186242 |
| &nbsp;&nbsp; Otis Worldwide Corp. | 5664 | 436581 |
| &nbsp;&nbsp; PACCAR, Inc. | 7746 | 894663 |
| &nbsp;&nbsp; Parker-Hannifin Corp. | 1808 | 1618594 |
| &nbsp;&nbsp; Pentair PLC | 2446 | 213071 |
| &nbsp;&nbsp; Snap-on, Inc. | 742 | 269509 |
| &nbsp;&nbsp; Stanley Black & Decker, Inc. | 2488 | 176797 |
| &nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. | 2460 | 614779 |
| &nbsp;&nbsp; Xylem, Inc. | 3450 | 412275 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15055043 |
| &nbsp;&nbsp; **Media 0.2%** |  |  |
| &nbsp;&nbsp; Charter Communications, Inc. (Class A Stock)\* | 1190 | 256897 |
| &nbsp;&nbsp; EchoStar Corp. (Class A Stock)\* | 1900 | 222433 |
| &nbsp;&nbsp; Fox Corp. (Class A Stock) | 3066 | 179054 |
| &nbsp;&nbsp; Fox Corp. (Class B Stock) | 2066 | 109705 |
| &nbsp;&nbsp; News Corp. (Class A Stock) | 5675 | 141478 |
| &nbsp;&nbsp; News Corp. (Class B Stock) | 2200 | 62722 |
| &nbsp;&nbsp; Omnicom Group, Inc. | 4425 | 333247 |
| &nbsp;&nbsp; Paramount Skydance Corp. (Class B Stock) | 4957 | 44712 |
| &nbsp;&nbsp; Trade Desk, Inc. (The) (Class A Stock)\* | 6500 | 147485 |
|  |  | 1497733 |
| &nbsp;&nbsp; **Metals & Mining 0.5%** |  |  |
| &nbsp;&nbsp; Freeport-McMoRan, Inc. | 21142 | 1242727 |
| &nbsp;&nbsp; Newmont Corp. | 15997 | 1731675 |
| &nbsp;&nbsp; Nucor Corp. | 3212 | 543149 |
| &nbsp;&nbsp; Steel Dynamics, Inc. | 1900 | 342000 |
|  |  | 3859551 |
| &nbsp;&nbsp; **Multi-Utilities 0.7%** |  |  |
| &nbsp;&nbsp; Ameren Corp. | 4069 | 447265 |
| &nbsp;&nbsp; CenterPoint Energy, Inc. | 9879 | 426378 |
| &nbsp;&nbsp; CMS Energy Corp. | 4600 | 356868 |
| &nbsp;&nbsp; Consolidated Edison, Inc. | 5251 | 594308 |
| &nbsp;&nbsp; Dominion Energy, Inc. | 12550 | 775841 |
| &nbsp;&nbsp; DTE Energy Co. | 2887 | 422137 |
| &nbsp;&nbsp; NiSource, Inc. | 7100 | 331286 |
| &nbsp;&nbsp; Public Service Enterprise Group, Inc. | 7294 | 590449 |
| &nbsp;&nbsp; Sempra | 9556 | 928557 |
| &nbsp;&nbsp; WEC Energy Group, Inc. | 4833 | 559516 |
|  |  | 5432605 |
| &nbsp;&nbsp; **Office REITs 0.0%** |  |  |
| &nbsp;&nbsp; BXP, Inc. | 2180 | 113142 |
| &nbsp;&nbsp; **Oil, Gas & Consumable Fuels 3.6%** |  |  |
| &nbsp;&nbsp; APA Corp. | 5148 | 218481 |
| &nbsp;&nbsp; Chevron Corp. | 27194 | 5626439 |
| &nbsp;&nbsp; ConocoPhillips | 17723 | 2339436 |
| &nbsp;&nbsp; Coterra Energy, Inc. | 11600 | 407624 |
| &nbsp;&nbsp; Devon Energy Corp. | 9100 | 457912 |
| &nbsp;&nbsp; Diamondback Energy, Inc. | 2580 | 510298 |

---

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 9

------

**Schedule of Investments** (unaudited) (continued)

as of March 31, 2026

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Oil, Gas & Consumable Fuels (cont'd.)** |  |  |
| &nbsp;&nbsp; EOG Resources, Inc. | 7900 | $1142103 |
| &nbsp;&nbsp; EQT Corp. | 9000 | 572760 |
| &nbsp;&nbsp; Expand Energy Corp. | 3400 | 373252 |
| &nbsp;&nbsp; Exxon Mobil Corp. | 60574 | 10276985 |
| &nbsp;&nbsp; Kinder Morgan, Inc. | 28780 | 964993 |
| &nbsp;&nbsp; Marathon Petroleum Corp. | 4176 | 1019696 |
| &nbsp;&nbsp; Occidental Petroleum Corp. | 10479 | 681135 |
| &nbsp;&nbsp; ONEOK, Inc. | 9200 | 831588 |
| &nbsp;&nbsp; Phillips 66 | 5728 | 1043527 |
| &nbsp;&nbsp; Targa Resources Corp. | 3000 | 752190 |
| &nbsp;&nbsp; Texas Pacific Land Corp. | 870 | 412867 |
| &nbsp;&nbsp; Valero Energy Corp. | 4300 | 1062444 |
| &nbsp;&nbsp; Williams Cos., Inc. (The) | 17892 | 1302180 |
|  |  | 29995910 |
| &nbsp;&nbsp; **Passenger Airlines 0.2%** |  |  |
| &nbsp;&nbsp; Delta Air Lines, Inc. | 9500 | 631560 |
| &nbsp;&nbsp; Southwest Airlines Co. | 7174 | 269527 |
| &nbsp;&nbsp; United Airlines Holdings, Inc.\* | 4700 | 432729 |
|  |  | 1333816 |
| &nbsp;&nbsp; **Personal Care Products 0.1%** |  |  |
| &nbsp;&nbsp; Estee Lauder Cos., Inc. (The) (Class A Stock) | 3670 | 263396 |
| &nbsp;&nbsp; Kenvue, Inc. | 29200 | 503408 |
|  |  | 766804 |
| &nbsp;&nbsp; **Pharmaceuticals 3.5%** |  |  |
| &nbsp;&nbsp; Bristol-Myers Squibb Co. | 29879 | 1812161 |
| &nbsp;&nbsp; Eli Lilly & Co. | 11497 | 10574596 |
| &nbsp;&nbsp; Johnson & Johnson | 34909 | 8533156 |
| &nbsp;&nbsp; Merck & Co., Inc. | 35993 | 4329598 |
| &nbsp;&nbsp; Pfizer, Inc. | 82463 | 2315561 |
| &nbsp;&nbsp; Viatris, Inc. | 17699 | 239114 |
| &nbsp;&nbsp; Zoetis, Inc. | 6200 | 732902 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28537088 |
| &nbsp;&nbsp; **Professional Services 0.4%** |  |  |
| &nbsp;&nbsp; Automatic Data Processing, Inc. | 5948 | 1208515 |
| &nbsp;&nbsp; Broadridge Financial Solutions, Inc. | 1800 | 292464 |
| &nbsp;&nbsp; Equifax, Inc. | 1630 | 293514 |
| &nbsp;&nbsp; Jacobs Solutions, Inc. | 1700 | 216376 |
| &nbsp;&nbsp; Leidos Holdings, Inc. | 1800 | 279936 |
| &nbsp;&nbsp; Paychex, Inc. | 4725 | 435267 |
| &nbsp;&nbsp; Verisk Analytics, Inc. | 2130 | 404167 |
|  |  | 3130239 |
| &nbsp;&nbsp; **Real Estate Management & Development 0.1%** |  |  |
| &nbsp;&nbsp; CBRE Group, Inc. (Class A Stock)\* | 4200 | 568932 |
| &nbsp;&nbsp; CoStar Group, Inc.\* | 6400 | 258176 |
|  |  | 827108 |
| &nbsp;&nbsp; **Residential REITs 0.2%** |  |  |
| &nbsp;&nbsp; AvalonBay Communities, Inc. | 1911 | 312162 |
| &nbsp;&nbsp; Camden Property Trust | 1600 | 156256 |
| &nbsp;&nbsp; Equity Residential | 5100 | 301665 |
| &nbsp;&nbsp; Essex Property Trust, Inc. | 900 | 217800 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Residential REITs (cont'd.)** |  |  |
| &nbsp;&nbsp; Invitation Homes, Inc. | 8600 | $213710 |
| &nbsp;&nbsp; Mid-America Apartment Communities, Inc. | 1770 | 216152 |
| &nbsp;&nbsp; UDR, Inc. | 4600 | 155388 |
|  |  | 1573133 |
| &nbsp;&nbsp; **Retail REITs 0.3%** |  |  |
| &nbsp;&nbsp; Federal Realty Investment Trust | 1100 | 116831 |
| &nbsp;&nbsp; Kimco Realty Corp. | 10300 | 231441 |
| &nbsp;&nbsp; Realty Income Corp. | 13500 | 825930 |
| &nbsp;&nbsp; Regency Centers Corp. | 2500 | 189150 |
| &nbsp;&nbsp; Simon Property Group, Inc. | 4689 | 874639 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2237991 |
| &nbsp;&nbsp; **Semiconductors & Semiconductor Equipment 14.2%** |  |  |
| &nbsp;&nbsp; Advanced Micro Devices, Inc.\* | 23628 | 4806644 |
| &nbsp;&nbsp; Analog Devices, Inc. | 7116 | 2263884 |
| &nbsp;&nbsp; Applied Materials, Inc. | 11388 | 3892305 |
| &nbsp;&nbsp; Broadcom, Inc. | 68790 | 21291193 |
| &nbsp;&nbsp; First Solar, Inc.\* | 1600 | 315616 |
| &nbsp;&nbsp; Intel Corp.\* | 68048 | 3002958 |
| &nbsp;&nbsp; KLA Corp. | 1900 | 2797579 |
| &nbsp;&nbsp; Lam Research Corp. | 18120 | 3871519 |
| &nbsp;&nbsp; Microchip Technology, Inc. | 7920 | 511711 |
| &nbsp;&nbsp; Micron Technology, Inc. | 16316 | 5512197 |
| &nbsp;&nbsp; Monolithic Power Systems, Inc. | 710 | 776279 |
| &nbsp;&nbsp; NVIDIA Corp. | 352500 | 61476000 |
| &nbsp;&nbsp; NXP Semiconductors NV (Netherlands) | 3760 | 740194 |
| &nbsp;&nbsp; ON Semiconductor Corp.\* | 5600 | 346752 |
| &nbsp;&nbsp; Qnity Electronics, Inc. | 3054 | 352371 |
| &nbsp;&nbsp; QUALCOMM, Inc. | 15500 | 1996090 |
| &nbsp;&nbsp; Skyworks Solutions, Inc. | 2200 | 117810 |
| &nbsp;&nbsp; Teradyne, Inc. | 2300 | 681858 |
| &nbsp;&nbsp; Texas Instruments, Inc. | 13152 | 2553329 |
|  |  | 117306289 |
| &nbsp;&nbsp; **Software 8.1%** |  |  |
| &nbsp;&nbsp; Adobe, Inc.\* | 5840 | 1419587 |
| &nbsp;&nbsp; AppLovin Corp. (Class A Stock)\* | 3980 | 1584040 |
| &nbsp;&nbsp; Autodesk, Inc.\* | 3190 | 763686 |
| &nbsp;&nbsp; Cadence Design Systems, Inc.\* | 3900 | 1083693 |
| &nbsp;&nbsp; Crowdstrike Holdings, Inc. (Class A Stock)\* | 3560 | 1389860 |
| &nbsp;&nbsp; Datadog, Inc. (Class A Stock)\* | 4900 | 578445 |
| &nbsp;&nbsp; Fair Isaac Corp.\* | 360 | 384314 |
| &nbsp;&nbsp; Fortinet, Inc.\* | 9400 | 768168 |
| &nbsp;&nbsp; Gen Digital, Inc. | 8517 | 160375 |
| &nbsp;&nbsp; Intuit, Inc. | 4090 | 1768434 |
| &nbsp;&nbsp; Microsoft Corp. | 107692 | 39864348 |
| &nbsp;&nbsp; Oracle Corp. | 24590 | 3617435 |
| &nbsp;&nbsp; Palantir Technologies, Inc. (Class A Stock)\* | 33100 | 4841868 |
| &nbsp;&nbsp; Palo Alto Networks, Inc.\* | 11700 | 1875744 |
| &nbsp;&nbsp; PTC, Inc.\* | 1600 | 227984 |
| &nbsp;&nbsp; Roper Technologies, Inc. | 1520 | 537867 |
| &nbsp;&nbsp; Salesforce, Inc. | 13560 | 2531245 |
| &nbsp;&nbsp; ServiceNow, Inc.\* | 15200 | 1589160 |
| &nbsp;&nbsp; Synopsys, Inc.\* | 2675 | 1060584 |
| &nbsp;&nbsp; Trimble, Inc.\* | 3600 | 234828 |

---

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 11

------

**Schedule of Investments** (unaudited) (continued)

as of March 31, 2026

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Software (cont'd.)** |  |  |
| &nbsp;&nbsp; Tyler Technologies, Inc.\* | 520 | $178038 |
| &nbsp;&nbsp; Workday, Inc. (Class A Stock)\* | 3200 | 415744 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66875447 |
| &nbsp;&nbsp; **Specialized REITs 0.8%** |  |  |
| &nbsp;&nbsp; American Tower Corp. | 6750 | 1164915 |
| &nbsp;&nbsp; Crown Castle, Inc. | 6200 | 504122 |
| &nbsp;&nbsp; Digital Realty Trust, Inc. | 4700 | 846987 |
| &nbsp;&nbsp; Equinix, Inc. | 1446 | 1417427 |
| &nbsp;&nbsp; Extra Space Storage, Inc. | 3100 | 406503 |
| &nbsp;&nbsp; Iron Mountain, Inc. | 4305 | 439713 |
| &nbsp;&nbsp; Public Storage | 2200 | 595936 |
| &nbsp;&nbsp; SBA Communications Corp. | 1600 | 275376 |
| &nbsp;&nbsp; VICI Properties, Inc. | 16200 | 442584 |
| &nbsp;&nbsp; Weyerhaeuser Co. | 10939 | 267240 |
|  |  | 6360803 |
| &nbsp;&nbsp; **Specialty Retail 1.7%** |  |  |
| &nbsp;&nbsp; AutoZone, Inc.\* | 240 | 810667 |
| &nbsp;&nbsp; Best Buy Co., Inc. | 2900 | 186180 |
| &nbsp;&nbsp; Carvana Co.\* | 2100 | 660198 |
| &nbsp;&nbsp; Home Depot, Inc. (The) | 14564 | 4789954 |
| &nbsp;&nbsp; Lowe's Cos., Inc. | 8066 | 1905834 |
| &nbsp;&nbsp; O'Reilly Automotive, Inc.\* | 12150 | 1121566 |
| &nbsp;&nbsp; Ross Stores, Inc. | 4800 | 1039824 |
| &nbsp;&nbsp; TJX Cos., Inc. (The) | 16128 | 2575642 |
| &nbsp;&nbsp; Tractor Supply Co. | 8000 | 362400 |
| &nbsp;&nbsp; Ulta Beauty, Inc.\* | 660 | 344989 |
| &nbsp;&nbsp; Williams-Sonoma, Inc. | 1700 | 309961 |
|  |  | 14107215 |
| &nbsp;&nbsp; **Technology Hardware, Storage & Peripherals 7.2%** |  |  |
| &nbsp;&nbsp; Apple, Inc. | 212962 | 54047626 |
| &nbsp;&nbsp; Dell Technologies, Inc. (Class C Stock) | 4200 | 689346 |
| &nbsp;&nbsp; Hewlett Packard Enterprise Co. | 20002 | 476248 |
| &nbsp;&nbsp; HP, Inc. | 14302 | 274741 |
| &nbsp;&nbsp; NetApp, Inc. | 2900 | 296931 |
| &nbsp;&nbsp; Sandisk Corp.\* | 2120 | 1346921 |
| &nbsp;&nbsp; Seagate Technology Holdings PLC | 3200 | 1253632 |
| &nbsp;&nbsp; Super Micro Computer, Inc.\* | 7600 | 173052 |
| &nbsp;&nbsp; Western Digital Corp. | 5025 | 1359212 |
|  |  | 59917709 |
| &nbsp;&nbsp; **Textiles, Apparel & Luxury Goods 0.2%** |  |  |
| &nbsp;&nbsp; Deckers Outdoor Corp.\* | 2160 | 216194 |
| &nbsp;&nbsp; Lululemon Athletica, Inc.\* | 1500 | 229650 |
| &nbsp;&nbsp; NIKE, Inc. (Class B Stock) | 17474 | 922977 |
| &nbsp;&nbsp; Ralph Lauren Corp. | 500 | 171995 |
| &nbsp;&nbsp; Tapestry, Inc. | 2900 | 409219 |
|  |  | 1950035 |
| &nbsp;&nbsp; **Tobacco 0.6%** |  |  |
| &nbsp;&nbsp; Altria Group, Inc. | 24679 | 1628567 |
| &nbsp;&nbsp; Philip Morris International, Inc. | 22579 | 3733212 |
|  |  | 5361779 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | | | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Trading Companies & Distributors 0.3%** |  |  |  |  |
| &nbsp;&nbsp; Fastenal Co. |  |  | 16900 | $784160 |
| &nbsp;&nbsp; United Rentals, Inc. |  |  | 890 | 648418 |
| &nbsp;&nbsp; W.W. Grainger, Inc. |  |  | 644 | 702482 |
|  |  |  |  | 2135060 |
| &nbsp;&nbsp; **Water Utilities 0.0%** |  |  |  |  |
| &nbsp;&nbsp; American Water Works Co., Inc. |  |  | 2700 | 367443 |
| &nbsp;&nbsp; **Wireless Telecommunication Services 0.2%** |  |  |  |  |
| &nbsp;&nbsp; T-Mobile US, Inc. |  |  | 6770 | 1421903 |
| &nbsp;&nbsp; **TOTAL COMMON STOCKS**<br> (cost $121,514,421) |  |  |  | 810885398 |
| &nbsp;&nbsp; **UNAFFILIATED EXCHANGE-TRADED FUND 0.6%** |  |  |  |  |
| &nbsp;&nbsp; iShares Core S&P 500 ETF<br>(cost $3,719,138) |  |  | 8200 | 5356322 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS**<br> (cost $125,233,559) |  |  |  | 816241720 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 1.3%** |  |  |  |  |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUND 1.1%** |  |  |  |  |
| &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<br>(cost $9,263,053)(wb) |  |  | 9263053 | 9263053 |
|  | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount<br>(000)#** |  |
| &nbsp;&nbsp; **U.S. TREASURY OBLIGATION(k)(n) 0.2%** |  |  |  |  |
| &nbsp;&nbsp; U.S. Treasury Bills<br>(cost $1,290,202) | 3.608% | 06/16/26 | 1300 | 1290111 |
| &nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS**<br> (cost $10,553,255) |  |  |  | 10553164 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 99.9%**<br> (cost $135,786,814) |  |  |  | 826794884 |
| &nbsp;&nbsp; Other assets in excess of liabilities(z) 0.1% |  |  |  | 570200 |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827365084 |

---

Below is a list of the abbreviation(s) used in the semiannual report:

USD—US Dollar

ETF—Exchange-Traded Fund

OTC—Over-the-counter

REITs—Real Estate Investment Trust

S&P—Standard & Poor's

SOFR—Secured Overnight Financing Rate

UBS—UBS Securities LLC

\* Non-income producing security.

# Principal amount is shown in U.S. dollars unless otherwise stated. 

(g) An affiliated security.

(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.

(n) Rate shown reflects yield to maturity at purchased date.

(wb) Represents an investment in a Fund affiliated with the Manager.

(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 13

------

**Schedule of Investments** (unaudited) (continued)

as of March 31, 2026

#### Futures contracts outstanding at March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number<br>of<br>Contracts** | **Type** | **Expiration<br>Date** | **Current<br>Notional<br>Amount** | **Value /<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Long Position:** | **Long Position:** |  |  |  |
| &nbsp;&nbsp; 28 | S&P 500 E-Mini Index | Jun. 2026 | $9199050 | $(259149) |

---

#### Summary of Collateral for Centrally Cleared/Exchange-traded Derivatives:
Cash and securities segregated as collateral, including pending settlement for closed positions, to cover requirements for centrally cleared/exchange-traded derivatives are listed by broker as follows:

---

| | | |
|:---|:---|:---|
| **Broker**  | **Cash and/or Foreign Currency** | **Securities Market Value** |
| UBS | $— | $1290111 |

---

#### Fair Value Measurements:
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below.

Level 1—unadjusted quoted prices generally in active markets for identical securities.

Level 2—quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates and other observable inputs.

Level 3—unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.

The following is a summary of the inputs used as of March 31, 2026 in valuing such portfolio securities:

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities** |  |  |  |
|  **Assets** |  |  |  |
|  **Long-Term Investments** |  |  |  |
|  Common Stocks |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | $18862570 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Freight & Logistics | 2762298 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobile Components. | 225680 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobiles | 16814022 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banks | 28410265 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beverages. | 9138991 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | 14449634 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | 30116232 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Building Products. | 3955130 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | 25975351 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemicals | 9434347 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Services & Supplies | 3733665 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications Equipment | 9013493 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering. | 2358877 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction Materials | 2065584 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Finance | 4359271 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | 16916612 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging | 1568668 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distributors | 296373 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified Telecommunication Services. | 7522285 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | 13642838 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | 9620507 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | 7158106 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Equipment & Services | 2485489 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entertainment | 11079249 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Services | 29392653 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food Products | 3761386 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gas Utilities | 443328 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ground Transportation | 6983664 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | 14517518 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | 12545317 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care REITs. | 2834863 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotel & Resort REITs | 178878 |  |  |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities (continued)** |  |  |  |
|  **Assets (continued)** |  |  |  |
|  **Long-Term Investments (continued)** |  |  |  |
|  Common Stocks (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure. | $14463498 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Household Durables. | 1894193 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Household Products | 6852792 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent Power & Renewable Electricity Producers. | 843690 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Conglomerates. | 3170011 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial REITs. | 1782976 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance | 13992374 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | 61878610 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IT Services | 6428073 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leisure Products | 182894 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services. | 6609297 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Machinery. | 15055043 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Media. | 1497733 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | 3859551 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | 5432605 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Office REITs | 113142 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | 29995910 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Passenger Airlines | 1333816 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Personal Care Products. | 766804 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | 28537088 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Professional Services. | 3130239 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | 827108 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential REITs | 1573133 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retail REITs | 2237991 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | 117306289 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Software | 66875447 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | 6360803 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | 14107215 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | 59917709 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | 1950035 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco | 5361779 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors | 2135060 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Utilities | 367443 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wireless Telecommunication Services | 1421903 |  |  |
|  Unaffiliated Exchange-Traded Fund | 5356322 |  |  |
|  **Short-Term Investments** |  |  |  |
|  Affiliated Mutual Fund | 9263053 |  |  |
|  U.S. Treasury Obligation |  | 1290111 | <u>—</u> |
|  **Total** | $**825504773** | $**1290111** | **$—** |
|  **Other Financial Instruments\*** |  |  |  |
|  **Liabilities** |  |  |  |
|  Futures Contracts | $**(259149)** | $**—** | **$—** |

---

\* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forward foreign currency exchange contracts and centrally cleared swap contracts, which are recorded at unrealized appreciation (depreciation) on the instrument, and OTC swap contracts which are recorded at fair value. 

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 15

------

**Schedule of Investments** (unaudited) (continued)

as of March 31, 2026

<u>**Industry Classification**:</u>

The industry classification of investments and other assets in excess of liabilities shown as a percentage of net assets as of March 31, 2026 were as follows:

---

| | |
|:---|:---|
|  Semiconductors & Semiconductor Equipment | 14.2 |
|  Software | 8.1 |
|  Interactive Media & Services | 7.5 |
|  Technology Hardware, Storage & Peripherals | 7.2 |
|  Broadline Retail | 3.6 |
|  Oil, Gas & Consumable Fuels | 3.6 |
|  Financial Services | 3.6 |
|  Pharmaceuticals | 3.5 |
|  Banks | 3.4 |
|  Capital Markets | 3.1 |
|  Aerospace & Defense | 2.3 |
|  Consumer Staples Distribution & Retail | 2.0 |
|  Automobiles | 2.0 |
|  Machinery | 1.8 |
|  Health Care Equipment & Supplies | 1.8 |
|  Hotels, Restaurants & Leisure | 1.7 |
|  Biotechnology | 1.7 |
|  Specialty Retail | 1.7 |
|  Insurance | 1.7 |
|  Electric Utilities | 1.7 |
|  Health Care Providers & Services | 1.5 |
|  Entertainment | 1.3 |
|  Electrical Equipment | 1.2 |
|  Chemicals | 1.1 |
|  Affiliated Mutual Fund | 1.1 |
|  Beverages | 1.1 |
|  Communications Equipment | 1.1 |
|  Diversified Telecommunication Services | 0.9 |
|  Electronic Equipment, Instruments & Components | 0.9 |
|  Ground Transportation | 0.8 |
|  Household Products | 0.8 |
|  Life Sciences Tools & Services | 0.8 |
|  IT Services | 0.8 |
|  Specialized REITs | 0.8 |
|  Multi-Utilities | 0.7 |
|  Tobacco | 0.6 |
|  Unaffiliated Exchange-Traded Fund | 0.6 |
|  Consumer Finance | 0.5 |
|  Building Products | 0.5 |

---

---

| | |
|:---|:---|
|  Metals & Mining | 0.5% |
|  Food Products | 0.5 |
|  Commercial Services & Supplies | 0.5 |
|  Industrial Conglomerates | 0.4 |
|  Professional Services | 0.4 |
|  Health Care REITs | 0.3 |
|  Air Freight & Logistics | 0.3 |
|  Energy Equipment & Services | 0.3 |
|  Construction & Engineering | 0.3 |
|  Retail REITs | 0.3 |
|  Trading Companies & Distributors | 0.3 |
|  Construction Materials | 0.3 |
|  Textiles, Apparel & Luxury Goods | 0.2 |
|  Household Durables | 0.2 |
|  Industrial REITs | 0.2 |
|  Residential REITs | 0.2 |
|  Containers & Packaging | 0.2 |
|  Media | 0.2 |
|  Wireless Telecommunication Services | 0.2 |
|  Passenger Airlines | 0.2 |
|  U.S. Treasury Obligation | 0.2 |
|  Independent Power & Renewable Electricity Producers | 0.1 |
|  Real Estate Management & Development | 0.1 |
|  Personal Care Products | 0.1 |
|  Gas Utilities | 0.1 |
|  Water Utilities | 0.0 \* |
|  Distributors | 0.0 \* |
|  Automobile Components | 0.0 \* |
|  Leisure Products | 0.0 \* |
|  Hotel & Resort REITs | 0.0 \* |
|  Office REITs | 0.0 \* |
|  | 99.9 |
|  Other assets in excess of liabilities | 0.1 |
|  | 100.0% |
|  <br>\* Less than 0.05% |  |

---

#### Effects of Derivative Instruments on the Financial Statements and Primary Underlying Risk Exposure:
The Fund invested in derivative instruments during the reporting period. The primary type of risk associated with these derivative instruments is equity risk. See the Notes to Financial Statements for additional detail regarding these derivative instruments and their risks. The effect of such derivative instruments on the Fund's financial position and financial performance as reflected in the Statement of Assets and Liabilities and Statement of Operations is presented in the summary below.

Fair values of derivative instruments as of March 31, 2026 as presented in the Statement of Assets and Liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| <br>**Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value** | **Statement of Assets<br>and<br> Liabilities Location**  | **Fair**<br>**Value** | **Statement of<br>Assets and<br> Liabilities Location**  | **Fair**<br>**Value** |
|  Equity contracts |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | Due from/to broker-variation margin futures | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$259,149\* |

---

\* Includes cumulative appreciation (depreciation) as reported in the schedule of open futures and centrally cleared swap contracts. Only unsettled variation margin receivable (payable) is reported within the Statement of Assets and Liabilities.

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The effects of derivative instruments on the Statement of Operations for the six months ended March 31, 2026 are as follows:

---

| | |
|:---|:---|
| **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** |
| **Derivatives not accounted for as hedging**<br> **instruments, carried at fair value** | **Futures** |
|  Equity contracts | $342069 |

---

---

| | |
|:---|:---|
| **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** |
| **Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value** | **Futures** |
|  Equity contracts | $(356934) |

---

For the six months ended March 31, 2026, the Fund's average volume of derivative activities is as follows:

---

| | |
|:---|:---|
| **Derivative Contract Type** | **Average Volume of Derivative Activities\*** |
|  Futures Contracts - Long Positions (1) | $12286663 |

---

\* Average volume is based on average quarter end balances for the six months ended March 31, 2026.

(1) Notional Amount in USD.

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 17

------

Statement of Assets and Liabilities (unaudited)

as of March 31, 2026

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $126,366,298) | $817033612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $9,420,516) | 9761272 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 962928 |
| &nbsp;&nbsp; Dividends and interest receivable | 413378 |
| &nbsp;&nbsp; Due from broker—variation margin futures | 255500 |
| &nbsp;&nbsp; Prepaid expenses | 3142 |
| &nbsp;&nbsp; **Total Assets** | 828429832 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Payable for Fund shares purchased | 765378 |
| &nbsp;&nbsp; Distribution fee payable | 104116 |
| &nbsp;&nbsp; Transfer agent's fees and expenses payable | 73929 |
| &nbsp;&nbsp; Management fee payable | 58024 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 28994 |
| &nbsp;&nbsp; Custodian and accounting fees payable | 22548 |
|  Affiliated transfer agent fee payable | 11759 |
|  **Total Liabilities** | 1064748 |
|  **Net Assets** | $827365084 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares of beneficial interest, at par | $18264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 44376696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 782970124 |
| &nbsp;&nbsp; **Net assets, March 31, 2026** | $827365084 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net asset value and redemption price per share, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ($335,582,934 ÷ 7,455,318 shares of beneficial interest issued and outstanding) | $45.01 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum sales charge (3.25% of offering price) | 1.51 |
| &nbsp;&nbsp;&nbsp;&nbsp; Maximum offering price to public | $46.52 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net asset value, offering price and redemption price per share, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ($18,410,336 ÷ 421,165 shares of beneficial interest issued and outstanding) | $43.71 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class I** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net asset value, offering price and redemption price per share, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ($119,419,914 ÷ 2,622,093 shares of beneficial interest issued and outstanding) | $45.54 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net asset value, offering price and redemption price per share, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ($161,530,123 ÷ 3,546,573 shares of beneficial interest issued and outstanding) | $45.55 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net asset value, offering price and redemption price per share, |  |
| &nbsp;&nbsp;&nbsp;&nbsp; ($192,421,777 ÷ 4,219,152 shares of beneficial interest issued and outstanding) | $45.61 |

---

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 19

------

Statement of Operations (unaudited)

Six Months Ended March 31, 2026

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** | &nbsp;&nbsp; **Net Investment Income (Loss)** |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Unaffiliated dividend income (net of $1,144 foreign withholding tax) | $5301071 |
| &nbsp;&nbsp; Affiliated dividend income | 254422 |
| &nbsp;&nbsp; Interest income | 31322 |
| &nbsp;&nbsp; Income from securities lending, net (including affiliated income of $862) | 1206 |
| &nbsp;&nbsp; **Total income** | 5588021 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 671934 |
| &nbsp;&nbsp; Distribution fee(a) | 650182 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $31,527)(a) | 339764 |
| &nbsp;&nbsp; Custodian and accounting fees | 40852 |
| &nbsp;&nbsp; Registration fees(a) | 36833 |
| &nbsp;&nbsp; Shareholders' reports | 22418 |
| &nbsp;&nbsp; Professional fees | 19924 |
| &nbsp;&nbsp; Audit fee | 13823 |
| &nbsp;&nbsp; Trustees' fees | 10447 |
| &nbsp;&nbsp; Miscellaneous | 16137 |
| &nbsp;&nbsp; **Total expenses** | 1822314 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (313569) |
| &nbsp;&nbsp; **Net expenses** | 1508745 |
| &nbsp;&nbsp; Net investment income (loss) | 4079276 |
| &nbsp;&nbsp; **Realized And Unrealized Gain (Loss) On Investments** |  |
| &nbsp;&nbsp; Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment transactions (including affiliated of $53,681) | 89823716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures transactions | 342069 |
|  | 90165785 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (including affiliated of $(81875)) | (108908270) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | (356934) |
|  | (109265204) |
| &nbsp;&nbsp; Net gain (loss) on investment transactions | (19099419) |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $(15020143) |

---

(a) Class specific expenses and waivers were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class I** | **Class Z** | **Class R6** |
| &nbsp;&nbsp; Distribution fee | 536392 | 113790 |  |  |  |
| &nbsp;&nbsp; Transfer agent's fees and expenses | 157571 | 14829 | 44347 | 122043 | 974 |
| &nbsp;&nbsp; Registration fees | 10543 | 7096 | 5610 | 7601 | 5983 |
| &nbsp;&nbsp; Fee waiver and/or expense reimbursement | (125158) | (7965) | (44347) | (65715) | (70384) |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended<br>March 31, 2026** | **Year Ended<br>September 30, 2025** |
| &nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $4079276 | $8624050 |
| &nbsp;&nbsp; Net realized gain (loss) on investment transactions | 90165785 | 62522308 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments | (109265204) | 70790357 |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | (15020143) | 141936715 |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp; Class A | (28283303) | (14008100) |
| &nbsp;&nbsp; Class C | (1773505) | (1347078) |
| &nbsp;&nbsp; Class I | (10344131) | (5852483) |
| &nbsp;&nbsp; Class Z | (14503352) | (9015230) |
| &nbsp;&nbsp; Class R6 | (15748480) | (7085644) |
|  | (70652771) | (37308535) |
| &nbsp;&nbsp; **Fund share transactions (Net of share conversions)** |  |  |
| &nbsp;&nbsp; Net proceeds from shares sold | 51079822 | 107740495 |
| &nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 70365133 | 37205796 |
| &nbsp;&nbsp; Cost of shares purchased | (155302027) | (186748973) |
| &nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | (33857072) | (41802682) |
| &nbsp;&nbsp; Total increase (decrease) | (119529986) | 62825498 |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 946895070 | 884069572 |
| &nbsp;&nbsp; End of period | $827365084 | $946895070 |

---

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 21

------

Financial Highlights (unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class A Shares** | | | | | | |
|  | **Six Months<br>Ended<br>March 31,**<br> **2026** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **Six Months<br>Ended<br>March 31,**<br> **2026** | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $49.83 | $44.35 | $37.23 | $35.72 | $47.35 | $47.07 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.18 | 0.37 | 0.40 | 0.42 | 0.42 | 0.42 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment transactions | (1.03) | 6.98 | 11.59 | 6.42 | (6.76) | 11.36 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (0.85) | 7.35 | 11.99 | 6.84 | (6.34) | 11.78 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.43) | (0.41) | (0.45) | (0.45) | (0.40) | (0.72) |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (3.54) | (1.46) | (4.42) | (4.88) | (4.89) | (10.78) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (3.97) | (1.87) | (4.87) | (5.33) | (5.29) | (11.50) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $45.01 | $49.83 | $44.35 | $37.23 | $35.72 | $47.35 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | (2.02)% | 17.02% | 35.61% | 20.99% | (15.91)% | 29.24% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $335583 | $362887 | $336182 | $272959 | $248714 | $337161 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $358577 | $337367 | $305683 | $270969 | $313531 | $331222 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.50 %<sup>(d)</sup> | 0.51% | 0.52% | 0.54% | 0.52% | 0.52% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.57 %<sup>(d)</sup> | 0.58% | 0.59% | 0.61% | 0.59% | 0.59% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.75 %<sup>(d)</sup> | 0.82% | 1.00% | 1.15% | 0.97% | 0.92% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 1% | 3% | 15% | 2% | 3% | 5% |

---

(a) Calculated based on average shares outstanding during the period.

(b) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Annualized.

(e) The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class C Shares** | | | | | | |
|  | **Six Months<br>Ended<br>March 31,<br>2026** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **Six Months<br>Ended<br>March 31,<br>2026** | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $48.37 | $43.15 | $36.35 | $34.95 | $46.45 | $46.37 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.01)<sup>(b)</sup> | 0.03 | 0.10 | 0.16 | 0.12 | 0.12 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment transactions | (1.00) | 6.78 | 11.32 | 6.28 | (6.63) | 11.17 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (1.01) | 6.81 | 11.42 | 6.44 | (6.51) | 11.29 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.11) | (0.13) | (0.20) | (0.16) | (0.10) | (0.43) |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (3.54) | (1.46) | (4.42) | (4.88) | (4.89) | (10.78) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (3.65) | (1.59) | (4.62) | (5.04) | (4.99) | (11.21) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $43.71 | $48.37 | $43.15 | $36.35 | $34.95 | $46.45 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | (2.41)% | 16.14% | 34.63% | 20.11% | (16.48)% | 28.37% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $18410 | $27164 | $38287 | $39868 | $46543 | $66318 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $22821 | $31628 | $40140 | $44481 | $61900 | $67968 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.30 %<sup>(e)</sup> | 1.26% | 1.26% | 1.24% | 1.21% | 1.19% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.37 %<sup>(e)</sup> | 1.33% | 1.33% | 1.31% | 1.28% | 1.26% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.05)%<sup>(e)</sup> | 0.07% | 0.27% | 0.46% | 0.28% | 0.26% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup> | 1% | 3% | 15% | 2% | 3% | 5% |

---

(a) Calculated based on average shares outstanding during the period.

(b) The per share amount of net investment income (loss) does not directly correlate to the amounts reported in the Statement of Operations due to class specific expenses.

(c) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

(d) Does not include expenses of the underlying funds in which the Fund invests.

(e) Annualized.

(f) The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 23

------

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class I Shares** | | | | | | |
|  | **Six Months<br>Ended<br>March 31,**<br> **2026** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **Six Months<br>Ended<br>March 31,**<br> **2026** | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $50.44 | $44.85 | $37.60 | $36.06 | $47.75 | $47.38 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.26 | 0.51 | 0.53 | 0.56 | 0.57 | 0.58 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment transactions | (1.04) | 7.08 | 11.72 | 6.46 | (6.81) | 11.44 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (0.78) | 7.59 | 12.25 | 7.02 | (6.24) | 12.02 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.58) | (0.54) | (0.58) | (0.60) | (0.56) | (0.87) |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (3.54) | (1.46) | (4.42) | (4.88) | (4.89) | (10.78) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (4.12) | (2.00) | (5.00) | (5.48) | (5.45) | (11.65) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $45.54 | $50.44 | $44.85 | $37.60 | $36.06 | $47.75 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | (1.88)% | 17.41% | 36.08% | 21.38% | (15.63)% | 29.69% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $119420 | $127268 | $132472 | $113462 | $120778 | $172635 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $127054 | $123001 | $124605 | $122167 | $161968 | $164271 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.19 %<sup>(d)</sup> | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.26 %<sup>(d)</sup> | 0.26% | 0.26% | 0.26% | 0.26% | 0.26% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 1.07 %<sup>(d)</sup> | 1.14% | 1.33% | 1.51% | 1.30% | 1.26% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 1% | 3% | 15% | 2% | 3% | 5% |

---

(a) Calculated based on average shares outstanding during the period.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Annualized.

(e) The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class Z Shares** | | | | | | |
|  | **Six Months<br>Ended<br>March 31,**<br> **2026** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **Six Months<br>Ended<br>March 31,**<br> **2026** | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $50.43 | $44.85 | $37.60 | $36.05 | $47.74 | $47.37 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.24 | 0.49 | 0.51 | 0.53 | 0.55 | 0.56 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment transactions | (1.03) | 7.07 | 11.72 | 6.47 | (6.82) | 11.44 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (0.79) | 7.56 | 12.23 | 7.00 | (6.27) | 12.00 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.55) | (0.52) | (0.56) | (0.57) | (0.53) | (0.85) |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (3.54) | (1.46) | (4.42) | (4.88) | (4.89) | (10.78) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (4.09) | (1.98) | (4.98) | (5.45) | (5.42) | (11.63) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $45.55 | $50.43 | $44.85 | $37.60 | $36.05 | $47.74 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | (1.89)% | 17.32% | 36.00% | 21.32% | (15.68)% | 29.62% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $161530 | $234889 | $208314 | $177388 | $160674 | $265893 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $188274 | $211921 | $195726 | $176709 | $238154 | $263618 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.25 %<sup>(d)</sup> | 0.25% | 0.25% | 0.25% | 0.24% | 0.24% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.32 %<sup>(d)</sup> | 0.32% | 0.32% | 0.32% | 0.31% | 0.31% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.98 %<sup>(d)</sup> | 1.08% | 1.27% | 1.44% | 1.24% | 1.20% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 1% | 3% | 15% | 2% | 3% | 5% |

---

(a) Calculated based on average shares outstanding during the period.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Annualized.

(e) The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

PGIM Quant Solutions Large-Cap Index Fund 25

------

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class R6 Shares** | | | | | | |
|  | **Six Months<br>Ended<br>March 31,**<br> **2026** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **Six Months<br>Ended<br>March 31,**<br> **2026** | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $50.52 | $44.91 | $37.65 | $36.09 | $47.78 | $47.40 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.28 | 0.55 | 0.55 | 0.58 | 0.60 | 0.58 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment transactions | (1.04) | 7.09 | 11.73 | 6.48 | (6.83) | 11.46 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (0.76) | 7.64 | 12.28 | 7.06 | (6.23) | 12.04 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.61) | (0.57) | (0.60) | (0.62) | (0.57) | (0.88) |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (3.54) | (1.46) | (4.42) | (4.88) | (4.89) | (10.78) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (4.15) | (2.03) | (5.02) | (5.50) | (5.46) | (11.66) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $45.61 | $50.52 | $44.91 | $37.65 | $36.09 | $47.78 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | (1.83)% | 17.50% | 36.13% | 21.48% | (15.59)% | 29.72% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $192422 | $194687 | $168815 | $61543 | $57685 | $25961 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $201648 | $177824 | $137968 | $61657 | $38530 | $19506 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.11 %<sup>(d)</sup> | 0.12% | 0.12% | 0.14% | 0.14% | 0.16% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.18 %<sup>(d)</sup> | 0.19% | 0.19% | 0.21% | 0.21% | 0.23% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 1.14 %<sup>(d)</sup> | 1.21% | 1.37% | 1.56% | 1.39% | 1.25% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 1% | 3% | 15% | 2% | 3% | 5% |

---

(a) Calculated based on average shares outstanding during the period.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Annualized.

(e) The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

------

Notes to Financial Statements (unaudited)

**1.** **Organization** 

Prudential Investment Portfolios 8 (the "Registered Investment Company" or "RIC") is registered under the Investment Company Act of 1940, as amended ("1940 Act"), as an open-end management investment company. The RIC is organized as a Delaware Statutory Trust. These financial statements relate only to the PGIM Quant Solutions Large-Cap Index Fund (the "Fund"), a series of the RIC. The Fund is classified as a diversified fund for purposes of the 1940 Act.

The investment objective of the Fund is to provide investment results that correspond to the price and yield performance of the S&P 500 Index.

**2.** **Accounting Policies** 

The Fund follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") Topic 946 Financial Services — *Investment Companies.* The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements. The policies conform to U.S. generally accepted accounting principles ("GAAP"). The Fund consistently follows such policies in the preparation of its financial statements.

The Fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of ASU 2023-07 exclusively impacted financial statement disclosures only and did not affect the Fund's financial position or performance. The intent of ASU 2023-07 is, through improved segment disclosures, to enable investors to better understand an entity's overall performance. The officers of the Fund, as listed in the Fund's Statement of Additional Information, act as the Fund's chief operating decision maker ("CODM"). The CODM has determined that the Fund has a single operating segment as the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its respective prospectus, based on a defined investment strategy which is executed by the Fund's subadviser.

The CODM allocates resources and assesses performance based on the operating results of the Fund, which is consistent with the results presented in the Fund's Schedule of Investments, Statement of Changes in Net Assets and Financial Highlights.

*Securities Valuation:* The Fund holds securities and other assets and liabilities that are fair valued as of the close of each day (generally, 4:00 PM Eastern time) the New York Stock Exchange ("NYSE") is open for trading. As described in further detail below, the Fund's investments are valued daily based on a number of factors, including the type of investment and whether market quotations are readily available. The RIC's Board of Trustees (the "Board") has approved the Fund's valuation policies and procedures for security valuation and designated PGIM Investments LLC ("PGIM Investments", the "Investment Manager" or the "Manager") as the "Valuation Designee," as defined by Rule 2a-5(b) under the 1940 Act, to perform the fair value determination relating to all Fund investments. Pursuant to the Board's oversight, the Valuation Designee has established a Valuation Committee to perform the duties and responsibilities of the Valuation Designee under Rule 2a-5. The valuation procedures permit the Fund to utilize independent pricing vendor services, quotations from market makers, and alternative valuation methods when market quotations are either not readily available or not deemed representative of fair value. Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.

For the fiscal reporting period-end, securities and other assets and liabilities were fair valued at the close of the last U.S. business day. Trading in certain foreign securities may occur when the NYSE is closed (including weekends and holidays). Because such foreign securities trade in markets that are open on weekends and U.S. holidays, the values of some of the Fund's foreign investments may change on days when investors cannot purchase or redeem Fund shares.

Various inputs determine how the Fund's investments are valued, all of which are categorized according to the three broad levels (Level 1, 2, or 3) detailed in the Schedule of Investments and referred to herein as the "fair value hierarchy" in accordance with FASB ASC Topic 820 Fair Value Measurement.

Common or preferred stocks, exchange-traded funds ("ETFs") and derivative instruments, if applicable, that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange where the security principally trades. Securities traded via Nasdaq are valued at the Nasdaq official closing price. To the extent these securities are valued at the last sale price or Nasdaq official closing price, they are classified as Level 1 in the fair value hierarchy. In the event that no sale or official

PGIM Quant Solutions Large-Cap Index Fund 27

------

Notes to Financial Statements (unaudited) (continued)

closing price on a valuation date exists, these securities are generally valued at the mean between the last reported bid and ask prices, or at the last bid price in the absence of an ask price. These securities are classified as Level 2 in the fair value hierarchy.

Investments in open-end funds (other than ETFs) are valued at their net asset values as of the close of the NYSE on the date of valuation. These securities are classified as Level 1 in the fair value hierarchy since they may be purchased or sold at their net asset values on the date of valuation.

Securities and other assets that cannot be priced according to the methods described above are valued based on policies and procedures approved by the Board. In the event that unobservable inputs are used when determining such valuations, the securities will be classified as Level 3 in the fair value hierarchy. Altering one or more unobservable inputs may result in a significant change to a Level 3 security's fair value measurement.

When determining the fair value of securities, some of the factors influencing the valuation include: the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer's financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of the issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; and any available analyst media or other reports or information deemed reliable by the Valuation Designee regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security's most recent closing price and from the price used by other unaffiliated mutual funds to calculate their net asset values.

*Financial Futures Contracts:* A financial futures contract is an agreement to purchase (long) or sell (short) an agreed amount of securities at a set price for delivery on a future date. Upon entering into a financial futures contract, the Fund is required to deposit collateral with a futures commission merchant an amount of cash and/or other assets equal to a certain percentage of the contract amount. This amount is known as the "initial margin." Subsequent payments, known as "variation margin," are made or received by the Fund each day, equal to the change in the mark-to-market value of the futures contract. Such variation margin is recorded for financial statement purposes on a daily basis as unrealized gain (loss). When the contract expires or is closed, the gain (loss) is realized and is presented in the Statement of Operations as net realized gain (loss) on futures transactions.

The Fund invested in financial futures contracts in order to hedge its existing portfolio securities, or securities the Fund intends to purchase, against fluctuations in value caused by changes in prevailing interest rates. Should interest rates move unexpectedly, the Fund may not achieve the anticipated benefits of the financial futures contracts and may realize a loss. The use of futures transactions involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and the underlying hedged assets. Since futures contracts are exchange-traded, there is minimal counterparty credit risk to the Fund since the exchanges' clearinghouse acts as counterparty to all exchange-traded futures and guarantees the futures contracts against default.

*Master Netting Arrangements:* The RIC, on behalf of the Fund, is subject to various Master Agreements, or netting arrangements, with select counterparties. These are agreements which a subadviser may have negotiated and entered into on behalf of all or a portion of the Fund. A master netting arrangement between the Fund and the counterparty permits the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received and by the receipt of collateral from the counterparty by the Fund to cover the Fund's exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable. In addition to master netting arrangements, the right to set-off exists when all the conditions are met such that each of the parties owes the other determinable amounts, the reporting party has the right to set-off the amount owed with the amount owed by the other party, the reporting party intends to set-off and the right of set-off is enforceable by law.

*Securities Lending:* The Fund lends its portfolio securities to banks and broker-dealers. The loans are secured by collateral at least equal to the market value of the securities loaned. Collateral pledged by each borrower is invested in an affiliated money market fund and is marked to market daily, based on the previous day's market value, such that the value of the collateral exceeds the value of the loaned securities. In the event of significant appreciation in value of the securities on loan on the last business day of the reporting period, the financial statements may reflect a collateral value that is less than the market value of the loaned securities. Such shortfall is remedied as described above. Loans are subject to termination at the option of the borrower or the Fund. Upon termination of the loan, the borrower will return to the Fund securities identical to the loaned securities. The remaining open loans of the securities lending transactions are considered overnight and continuous. Should the borrower of the securities fail financially, the Fund has the right to repurchase the securities in the open market using the collateral.

------

The Fund recognizes income, net of any rebate and securities lending agent fees, for lending its securities in the form of fees or interest on the investment of any cash received as collateral. The borrower receives all interest and dividends from the securities loaned and such payments are passed back to the lender in amounts equivalent thereto, which are reflected in interest income or unaffiliated dividend income based on the nature of the payment on the Statement of Operations. The Fund also continues to recognize any unrealized gain (loss) in the market price of the securities loaned and on the change in the value of the collateral invested that may occur during the term of the loan. In addition, realized gain (loss) is recognized on changes in the value of the collateral invested upon liquidation of the collateral. Net earnings from securities lending are disclosed in the Statement of Operations.

*Equity and Mortgage Real Estate Investment Trusts (collectively "REITs"):* The Fund invested in REITs, which report information on the source of their distributions annually. Based on current and historical information, a portion of distributions received from REITs during the period is estimated to be dividend income, capital gain or return of capital and recorded accordingly. When material, these estimates are adjusted periodically when the actual source of distributions is disclosed by the REITs.

*Securities Transactions and Net Investment Income:* Securities transactions are recorded on the trade date. Realized gains (losses) from investment and currency transactions are calculated on the specific identification method. Dividend income is recorded on the ex-date, or for certain foreign securities, when the Fund becomes aware of such dividends. Expenses are recorded on an accrual basis, which may require the use of certain estimates by management that may differ from actual expense amounts. Net investment income or loss (other than class specific expenses and waivers, which are allocated as noted below) and unrealized and realized gains (losses) are allocated daily to each class of shares based upon the relative proportion of adjusted net assets of each class at the beginning of the day. Class specific expenses and waivers, where applicable, are charged to the respective share classes. Such class specific expenses and waivers include distribution fees and

distribution fee waivers, shareholder servicing fees, transfer agent's fees and expenses, registration fees and fee waivers and/or expense reimbursements, as applicable.

*Taxes:* It is the Fund's policy to continue to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its taxable net investment income and capital gains, if any, to its shareholders. Therefore, no federal income tax provision is required. Withholding taxes on foreign dividends, interest and capital gains, if any, are recorded, net of reclaimable amounts, at the time the related income is earned.

*Dividends and Distributions:* Dividends and distributions to shareholders, which are determined in accordance with federal income tax regulations and which may differ from GAAP, are recorded on the ex-date. Permanent book/tax differences relating to income and gain (loss) are reclassified between total distributable earnings (loss) and paid-in capital in excess of par, as appropriate. The chart below sets forth the expected frequency of dividend and capital gains distributions to shareholders. Various factors may impact the frequency of dividend distributions to shareholders, including but not limited to adverse market conditions or portfolio holding-specific events.

---

| | |
|:---|:---|
|  **Expected Distribution Schedule to Shareholders\*** | **Frequency** |
|  Net Investment Income | Annually |
|  Short-Term Capital Gains | Annually |
|  Long-Term Capital Gains | Annually |

---

\* Under certain circumstances, the Fund may make more than one distribution of short-term and/or long-term capital gains during a fiscal year.

*Estimates:* The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

**3.** **Agreements** 

The RIC, on behalf of the Fund, has entered into a management agreement with the Manager pursuant to which it has responsibility for all investment advisory services, including supervision of the subadviser's performance of such services, and for rendering administrative services.

The Manager has entered into a subadvisory agreement with PGIM Quantitative Solutions LLC ("PGIM Quantitative Solutions" or the "subadviser"). The Manager pays for the services of PGIM Quantitative Solutions.

Fees payable under the management agreement are computed daily and paid monthly. For the reporting period ended March 31, 2026, the contractual and effective management fee rates were as follows:

---

| | | |
|:---|:---|:---|
| **Contractual Management Rate** | **Effective Management Fee, before any waivers<br>and/or expense reimbursements** | **Effective Management Fee, after any waivers<br>and/or expense reimbursements** |
|  0.15% of average daily net assets up to and including $1 billion; | 0.15% | 0.08% |

---

PGIM Quant Solutions Large-Cap Index Fund 29

------

**Notes to Financial Statements** (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Contractual Management Rate** | **Effective Management Fee, before any waivers<br>and/or expense reimbursements** | **Effective Management Fee, after any waivers<br>and/or expense reimbursements** |
|  0.10% of average daily net assets over $1 billion. |  |  |

---

The Manager has contractually agreed, through January 31, 2027 to waive a portion of its management fee so that the effective management fee for the Fund will be 0.08% of the average daily net assets of the Fund. Separately, the Manager has contractually agreed, through January 31, 2027, to limit transfer agency, shareholder servicing, sub-transfer agency and blue sky fees, as applicable. This contractual expense limitation excludes interest, brokerage, taxes (such as income and foreign withholding taxes, stamp duty and deferred tax expenses), acquired fund fees and expenses, extraordinary expenses, and certain other Fund expenses such as dividend and interest expense and broker charges on short sales.

Where applicable, the Manager agrees to waive management fees or shared operating expenses on any share class to the same extent that it waives such expenses on any other share class. In addition, total annual operating expenses for Class R6 shares will not exceed total annual operating expenses for Class Z shares. Expenses waived or reimbursed by the Manager for the purpose of preventing the expenses from exceeding a stated expense ratio limit may be recouped by the Manager within the same fiscal year in which such waiver and/or reimbursement is made. Any such recoupment is limited to the lesser of the amounts that would be recoupable under: (i) the expense limitation in effect at the time the waiver and/or reimbursement was made or (ii) the expense limitation in effect at the time of recoupment. The expense limitations attributable to each class are as follows:

---

| | |
|:---|:---|
| **Class** | **Expense <br>Limitations** |
|  A | —% |
|  C |  |
|  I |  |
|  Z |  |
|  R6 | 0.18 |

---

The RIC, on behalf of the Fund, has a distribution agreement with Prudential Investment Management Services LLC ("PIMS"), which acts as the distributor of the Class A, Class C, Class I, Class Z and Class R6 shares of the Fund. The Fund compensates PIMS for distributing and servicing the Fund's Class A and Class C shares, pursuant to the plans of distribution (the "Distribution Plans"), regardless of expenses actually incurred by PIMS.

Pursuant to the Distribution Plans, the Fund compensates PIMS for distribution related activities at an annual rate based on average daily net assets per class. The distribution fees are accrued daily and payable monthly.

The Fund's annual gross and net distribution rates, where applicable, are as follows:

---

| | | |
|:---|:---|:---|
| **Class** | **Gross Distribution Fee** | **Net Distribution Fee** |
|  A | &nbsp;&nbsp;&nbsp;&nbsp;0.30% | &nbsp;&nbsp;&nbsp;&nbsp;0.30% |
|  C | 1.00 | 1.00 |
|  I | N/A | N/A |
|  Z | N/A | N/A |
|  R6 | N/A | N/A |

---

For the reporting period ended March 31, 2026, PIMS received front-end sales charges ("FESL") resulting from sales of certain class shares and contingent deferred sales charges ("CDSC") imposed upon redemptions by certain shareholders. From these fees, PIMS paid such sales charges to broker-dealers, who in turn paid commissions to salespersons and incurred other distribution costs. The sales charges are as follows where applicable:

---

| | | |
|:---|:---|:---|
| **Class** | **FESL** | **CDSC** |
|  A | $50533 | $41 |
|  C |  | 427 |

---

PGIM Investments, PIMS and PGIM Quantitative Solutions are indirect, wholly-owned subsidiaries of Prudential Financial, Inc. ("Prudential").

------

**4.** **Other Transactions with Affiliates** 

Prudential Mutual Fund Services LLC ("PMFS"), an affiliate of PGIM Investments and an indirect, wholly-owned subsidiary of Prudential, serves as the Fund's transfer agent and shareholder servicing agent. Transfer agent's fees and expenses in the Statement of Operations include certain out-of-pocket expenses paid to non-affiliates, where applicable.

The Fund may invest its overnight sweep cash in the PGIM Core Government Money Market Fund (the "Core Government Fund"), a series of the Prudential Government Money Market Fund, Inc., and its securities lending cash collateral in the PGIM Institutional Money Market Fund (the "Money Market Fund"), a series of Prudential Investment Portfolios 2, each registered under the 1940 Act and managed by PGIM Investments. PGIM Investments and/or its affiliates are paid fees or reimbursed for providing their services to the Core Government Fund and the Money Market Fund. In addition to the realized and unrealized gains on investments in the Core Government Fund and the Money Market Fund, earnings from such investments are disclosed on the Statement of Operations as "Affiliated dividend income" and "Affiliated income from securities lending, net", respectively.

The Fund may enter into certain securities purchase or sale transactions under Board approved Rule 17a-7 procedures. Rule 17a-7 is an exemptive rule under the 1940 Act that, subject to certain conditions, permits purchase and sale transactions among affiliated investment companies, or between an investment company and a person that is affiliated solely by reason of having a common (or affiliated) investment adviser, common directors/trustees, and/or common officers. For the reporting period ended March 31, 2026, no Rule 17a-7 transactions were entered into by the Fund.

**5.** **Portfolio Securities** 

The aggregate cost of purchases and proceeds from sales of portfolio securities (excluding short-term investments and U.S. Government securities) for the reporting period ended March 31, 2026, were as follows:

---

| | |
|:---|:---|
| **Cost of Purchases** | **Proceeds from Sales** |
| $10655964 | $112462845 |

---

A summary of the cost of purchases and proceeds from sales of shares of affiliated investments for the reporting period ended March 31, 2026, is presented as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value, <br> Beginning <br> of<br> Period** | **Cost of<br>Purchases** | **Proceeds<br>from Sales** | **Change in<br>Unrealized<br>Gain**<br> (Loss) | **Realized**<br> **Gain (Loss)** | **Value,**<br> **End**<br> **of Period** | **Shares,**<br> **End**<br> **of**<br> **Period** | **Income** | **Capital**<br> **Gain<br>Distributions** |
|  **Long-Term Investments - Common Stock:** | **Long-Term Investments - Common Stock:** | **Long-Term Investments - Common Stock:** | **Long-Term Investments - Common Stock:** |  |  |  |  |  |
|  Prudential Financial, Inc.<sup>(g)</sup> | Prudential Financial, Inc.<sup>(g)</sup> | Prudential Financial, Inc.<sup>(g)</sup> | Prudential Financial, Inc.<sup>(g)</sup> | Prudential Financial, Inc.<sup>(g)</sup> | Prudential Financial, Inc.<sup>(g)</sup> |  |  |  |
| $601692 | $— | $75282 | $(81861) | $53670 | $498219 | 5100 | $14295 | $— |
|  **Short-Term Investments - Affiliated Mutual Funds:** | **Short-Term Investments - Affiliated Mutual Funds:** | **Short-Term Investments - Affiliated Mutual Funds:** | **Short-Term Investments - Affiliated Mutual Funds:** |  |  |  |  |  |
|  PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wb)</sup> |  |  |  |
| $10047311 | $67946565 | $68730823 | $— | $— | $9263053 | 9263053 | $240127 | $— |
|  PGIM Institutional Money Market Fund (7-day effective yield 3.829%)<sup>(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 3.829%)<sup>(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 3.829%)<sup>(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 3.829%)<sup>(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 3.829%)<sup>(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 3.829%)<sup>(b)(wb)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8176731 | 3611962 | 11788690 | (14) | 11 |  |  | 862<sup>(1)</sup> |  |
| $18224042 | $71558527 | $80519513 | $(14) | $11 | $9263053 |  | $240989 | $— |
| $18825734 | $71558527 | $80594795 | $(81875) | $53681 | $9761272 |  | $255284 | $— |

---

(1) The amount, or a portion thereof, represents the affiliated securities lending income shown on the Statement of Operations.

(b) Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment.

(g) An affiliated security.

(wb) Represents an investment in a Fund affiliated with the Manager.

**6.** **Tax Information** 

The United States federal income tax basis of the Fund's investments and the net unrealized appreciation (depreciation) as of March 31, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Tax Basis** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>Depreciation** | **Net<br>Unrealized<br>Appreciation** |
| $137678159 | $700925703 | $(12068127) | $688857576 |

---

The GAAP basis may differ from tax basis due to certain tax-related adjustments.

PGIM Quant Solutions Large-Cap Index Fund 31

------

**Notes to Financial Statements** (unaudited) (continued)

The Manager has analyzed the Fund's tax positions taken on federal, state and local income tax returns for all open tax years and has concluded that no provision for income tax is required in the Fund's financial statements for the current reporting period. Since tax authorities can examine previously filed tax returns, the Fund's U.S. federal and state tax returns for each of the four fiscal years up to the most recent fiscal year ended September 30, 2025 are subject to such review.

**7.** **Capital and Ownership** 

The Fund offers Class A, Class C, Class Z, Class I and Class R6 shares. Class A shares are sold with a maximum front-end sales charge of 3.25%. Investors who purchase $1 million or more of Class A shares and sell these shares within 12 months of purchase are subject to a CDSC of 1%, although they are not subject to an initial sales charge. The Class A CDSC is waived for certain retirement and/or benefit plans. A special exchange privilege is also available for shareholders who qualified to purchase Class A shares at net asset value. Class C shares are sold with a CDSC of 1% on sales made within 12 months of purchase. Class C shares will automatically convert to Class A shares on a monthly basis approximately eight years after purchase. Class I, Class Z and Class R6 shares are not subject to any sales or redemption charges and are available exclusively for sale to a limited group of investors.

Under certain circumstances, an exchange may be made from specified share classes of the Fund to one or more other share classes of the Fund as presented in the table of transactions in shares of beneficial interest, below.

The RIC has authorized an unlimited number of shares of beneficial interest of the Fund at $0.001 par value per share, currently divided into five classes, designated Class A, Class C, Class I, Class Z and Class R6.

As of March 31, 2026, Prudential, through its affiliated entities, including affiliated funds (if applicable), owned shares of the Fund as follows:

---

| | | |
|:---|:---|:---|
| **Class** | **Number of Shares** | **Percentage of Outstanding Shares** |
|  Z | &nbsp;&nbsp;&nbsp;&nbsp;57442 | 1.6% |
|  R6 | 2350462 | 55.7 |

---

At the reporting period end, the number of shareholders holding greater than 5% of the Fund are as follows:

---

| | | |
|:---|:---|:---|
|  | **Number of Shareholders** | **Percentage of Outstanding Shares** |
|  Affiliated |  | —% |
|  Unaffiliated | 3 | 55.7 |

---

------

Transactions in shares of beneficial interest were as follows:

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
|  **Class A** |  |  |
|  **Six months ended March 31, 2026:** |  |  |
| &nbsp;&nbsp; Shares sold | 127440 | $6095219 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 598090 | 28056384 |
| &nbsp;&nbsp; Shares purchased | (594501) | (28636157) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 131029 | 5515446 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 51993 | 2537351 |
|  Shares purchased upon conversion into other share class(es) | (10062) | (479170) |
|  Net increase (decrease) in shares outstanding | 172960 | $7573627 |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 275982 | $12029730 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 308733 | 13920753 |
| &nbsp;&nbsp; Shares purchased | (1048442) | (46673408) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (463727) | (20722925) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 184738 | 8242237 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (19088) | (847045) |
|  Net increase (decrease) in shares outstanding | (298077) | $(13327733) |
|  **Class C** |  |  |
|  **Six months ended March 31, 2026:** |  |  |
| &nbsp;&nbsp; Shares sold | 20457 | $953667 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 38825 | 1772740 |
| &nbsp;&nbsp; Shares purchased | (127411) | (5977336) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (68129) | (3250929) |
|  Shares purchased upon conversion into other share class(es) | (72260) | (3435049) |
|  Net increase (decrease) in shares outstanding | (140389) | $(6685978) |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 27510 | $1198100 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 30545 | 1344917 |
| &nbsp;&nbsp; Shares purchased | (169213) | (7168305) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (111158) | (4625288) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (214557) | (9315812) |
|  Net increase (decrease) in shares outstanding | (325715) | $(13941100) |
|  **Class I** |  |  |
|  **Six months ended March 31, 2026:** |  |  |
| &nbsp;&nbsp; Shares sold | 82940 | $4016723 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 218139 | 10344131 |
| &nbsp;&nbsp; Shares purchased | (220159) | (10632882) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 80920 | 3727972 |
|  Shares issued upon conversion from other share class(es) | 17916 | 897698 |
|  Net increase (decrease) in shares outstanding | 98836 | $4625670 |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 109227 | $4869003 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 128527 | 5850552 |
| &nbsp;&nbsp; Shares purchased | (675732) | (30048253) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (437978) | (19328698) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 14435 | 624111 |
|  Shares purchased upon conversion into other share class(es) | (6801) | (307342) |
|  Net increase (decrease) in shares outstanding | (430344) | $(19011929) |
|  **Class Z** |  |  |
|  **Six months ended March 31, 2026:** |  |  |
| &nbsp;&nbsp; Shares sold | 150305 | $7334122 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 304520 | 14443398 |
|  Shares purchased | (1575699) | (78898185) |

---

PGIM Quant Solutions Large-Cap Index Fund 33

------

**Notes to Financial Statements** (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (1120874) | $(57120665) |
|  Shares issued upon conversion from other share class(es) | 9625 | 463572 |
|  Net increase (decrease) in shares outstanding | (1111249) | $(56657093) |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 640975 | $28961140 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 197758 | 9003930 |
| &nbsp;&nbsp; Shares purchased | (894141) | (39715154) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (55408) | (1750084) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 68185 | 3159075 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (48) | (2114) |
|  Net increase (decrease) in shares outstanding | 12729 | $1406877 |
|  **Class R6** |  |  |
|  **Six months ended March 31, 2026:** |  |  |
| &nbsp;&nbsp; Shares sold | 680061 | $32680091 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 331756 | 15748480 |
| &nbsp;&nbsp; Shares purchased | (646865) | (31157467) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 364952 | 17271104 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 322 | 15598 |
|  Net increase (decrease) in shares outstanding | 365274 | $17286702 |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 1376296 | $60682522 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 155523 | 7085644 |
| &nbsp;&nbsp; Shares purchased | (1403686) | (63143853) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 128133 | 4624313 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 6593 | 303871 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (39500) | (1856981) |
|  Net increase (decrease) in shares outstanding | 95226 | $3071203 |

---

**8.** **Borrowings** 

The RIC, on behalf of the Fund, along with other affiliated registered investment companies (the "Participating Funds"), is a party to a Syndicated Credit Agreement ("SCA") with a group of banks. The purpose of the SCA is to provide an alternative source of temporary funding for capital share redemptions. The table below provides details of the SCA in effect at the reporting period-end.

---

| | |
|:---|:---|
|  | **SCA** |
| &nbsp;&nbsp; **Term of Commitment** | 9/26/2025 - 9/24/2026 |
| &nbsp;&nbsp; **Total Commitment** | $1200000000 |
| &nbsp;&nbsp; **Annualized Commitment Fee on**<br> **the Unused Portion of the SCA** | 0.15% |
| &nbsp;&nbsp; **Annualized Interest Rate on Borrowings** | &nbsp;&nbsp;&nbsp;&nbsp; 1.00% plus the higher of (1)<br> the effective federal funds<br> rate, (2) the daily SOFR<br> rate plus 0.10% or (3) zero<br> percent |

---

Certain affiliated registered investment companies that are parties to the SCA include portfolios that are subject to a predetermined mathematical formula used to manage certain benefit guarantees offered under variable annuity contracts. The formula may result in large scale asset flows into and out of these portfolios. Consequently, these portfolios may be more likely to utilize the SCA for purposes of funding redemptions. It may be possible for those portfolios to fully exhaust the committed amount of the SCA, thereby requiring the Manager to allocate available funding per a Board-approved methodology designed to treat the Participating Funds in the SCA equitably.

The Fund utilized the SCA during the reporting period ended March 31, 2026. The average daily balance for the 1 day that the Fund had loans outstanding during the period was approximately $313,000, borrowed at a weighted average interest rate of 4.75%. The maximum loan outstanding amount during the period was $313,000. At March 31, 2026, the Fund did not have an outstanding loan amount.

------

**9.** **Risks of Investing in the Fund** 

The Fund's principal risks include, but are not limited to, some or all of the risks discussed below. For further information on the Fund's risks, please refer to the Fund's Prospectus and Statement of Additional Information.

*Economic and Market Events Risk:* Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth or the functioning of the securities markets, or otherwise reduce inflation, may at times result in unusually high market volatility, which could negatively impact performance. Governmental efforts to curb inflation often have negative effects on the level of economic activity. Relatively reduced liquidity in credit and fixed income markets could adversely affect issuers worldwide.

*Equity and Equity-Related Securities Risk:* Equity and equity-related securities may be subject to changes in value, and their values may be more volatile than those of other asset classes. In addition to an individual security losing value, the value of the equity markets or a sector in which the Fund invests could go down. Different parts of a market can react differently to adverse issuer, market, regulatory, political and economic developments.

*Increase in Expenses Risk:* Your actual cost of investing in the Fund may be higher than the expenses shown in the expense table in the Fund's prospectus for a variety of reasons. For example, expense ratios may be higher than those shown if average net assets decrease. Net assets are more likely to decrease and Fund expense ratios are more likely to increase when markets are volatile.

*Index Investment Approach Risk:* Since the Fund is passively managed, assets are not allocated from one stock or group of stocks to another based on their prospects, or from stocks into bonds or cash equivalents in an attempt to cushion the impact of a market decline. As a result, the Fund's performance may be less favorable than that of a portfolio using an active investment strategy. There is no guarantee that the Fund's investment results will have a high degree of correlation to those of the Index. The Fund's expenses, changes in securities markets, changes in the composition of the Index, errors in index provider data, and the timing of purchases and redemptions of Fund shares, among other things, may affect the correlation between Fund and Index performance. The Fund may not perform as well as other investments if, among other things, the Index declines or performs poorly relative to other related indexes or individual securities or the securities issued by companies that comprise the Index fall out of favor with investors.

*Large Capitalization Company Risk:* Companies with large market capitalizations go in and out of favor based on market and economic conditions. Larger companies tend to be less volatile than companies with smaller market capitalizations. In exchange for this potentially lower risk, the Fund's value may not rise or fall as much as the value of funds that emphasize companies with smaller market capitalizations.

*Large Shareholder and Large Scale Redemption Risk:* Certain individuals, accounts, funds (including funds affiliated with the Manager) or institutions, including the Manager and its affiliates, may from time to time own or control a substantial amount of the Fund's shares. There is no requirement that these entities maintain their investment in the Fund. There is a risk that such large shareholders or that the Fund's shareholders generally may redeem all or a substantial portion of their investments in the Fund in a short period of time, which could have a significant negative impact on the Fund's NAV, liquidity, and brokerage costs. Large redemptions could also result in tax consequences to shareholders and impact the Fund's ability to implement its investment strategy. The Fund's ability to pursue its investment objective after one or more large scale redemptions may be impaired and, as a result, the Fund may invest a larger portion of its assets in cash or cash equivalents.

*Market Disruption and Geopolitical Risks:* Market disruption can be caused by economic, financial or political events and factors, including but not limited to, international wars or conflicts (including Russia's military invasion of Ukraine and the Israel-Hamas war), geopolitical developments (including trading and tariff arrangements, sanctions and cybersecurity attacks), instability in regions such as the Middle East, South America, Eastern Europe, and Asia, terrorism, natural disasters and public health epidemics (including the outbreak of COVID-19 globally).

Recent policy decisions of the U.S. government and governments of foreign countries may increase geopolitical risks that could adversely affect the investment performance of the Fund. These policies have the potential to impact international relations, trade agreements and the overall regulatory environment in ways that could create uncertainty and instability in domestic and global markets. Actions taken by the U.S. government and governments of foreign countries in respect of international trade relations could lead to trade wars, increased costs for imported goods, disruptions in supply chains, reduced foreign investment, and instability in regions where the Fund invests.

PGIM Quant Solutions Large-Cap Index Fund 35

------

**Notes to Financial Statements** (unaudited) (continued)

The extent and duration of such events and resulting market disruptions cannot be predicted, but could be substantial and could magnify the impact of other risks to the Fund. These and other similar events could adversely affect the U.S. and foreign financial markets and lead to increased market volatility, reduced liquidity in the securities markets, significant negative impacts on issuers and the markets for certain securities and commodities and/or government intervention. They may also cause short- or long-term economic uncertainties in the United States and worldwide. As a result, whether or not the Fund invests in securities of issuers located in or with significant exposure to the countries directly affected, the value and liquidity of the Fund's investments may be negatively impacted. Further, due to closures of certain markets and restrictions on trading certain securities, the value of certain securities held by the Fund could be significantly impacted, which could lead to such securities being valued at zero.

*Market Risk:* Securities markets may be volatile and the market prices of the Fund's securities may decline. Securities fluctuate in price based on changes in an issuer's financial condition and overall market and economic conditions. If the market prices of the securities owned by the Fund fall, the value of your investment in the Fund will decline.

*Sector Exposure Risk:* At times, the Fund may have a significant portion of its assets invested in the same economic sector, including the information technology sector. Issuers in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

*Tracking Error Risk:* Tracking error is the divergence of the Fund's performance from that of the Index. Tracking error may occur because of differences between the securities and other instruments held in the Fund's portfolio and those included in the Index, pricing differences, transaction costs, the Fund's holding of uninvested cash, differences in timing of the accrual of distributions, tax gains or losses, changes to the Index or the need to meet various new or existing regulatory requirements. This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result because the Fund incurs fees and expenses, while the Index does not.

10. Recent Accounting Pronouncement and Regulatory Developments

During the reporting period, the Fund adopted Accounting Standards Update 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures ("ASU 2023-09"). The amendments enhance income tax disclosures by requiring greater disclosure of income taxes paid by jurisdiction. The Fund did not pay a significant amount of foreign or U.S. federal, state or local income taxes and therefore did not include any additional disclosures in these financial statements.

11. Subsequent Event

The Fund's management evaluated subsequent events through the date of issuance of the financial statements. There have been no subsequent events that occurred during such period that would require disclosure in, or would be required to be recognized in, the financial statements as of March 31, 2026.

------

#### Other Information
**Form N-CSR Item 8** - Changes in and Disagreements with Accountants for Open-End Management Investment Companies - None.

**Form N-CSR Item 9** - Proxy Disclosures for Open-End Management Investment Companies - None.

**Form N-CSR Item 10** - Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies - Included within the Statement of Operations of the financial statements filed under Item 7 of this Form.

**Form N-CSR Item 11** - Statement Regarding Basis for Approval of Investment Advisory Contract - None.

------

![LOGO](g21324g01k01.jpg)

## PRUDENTIAL INVESTMENT PORTFOLIOS 8
PGIM Securitized Credit Fund

  

#### FINANCIAL STATEMENTS AND OTHER INFORMATION

#### MARCH 31, 2026
![LOGO](g21324g02k01.jpg)

------

<u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Table of Contents** </u>   <u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Other Information </u>   <u> March 31, 2026 </u>

**Form N-CSR Item 7** - Financial Statements and Financial Highlights for Open-End Management Investment Companies.

---

| | |
|:---|:---|
|  [PGIM Securitized Credit Fund](#edgar21324_1) | 1 |
|  [Notes to Financial Statements](#edgar21324_2) | 32 |

---

[**Other Information -** Form N-CSR Items 8-11](#edgar21324_3)

------

Schedule of Investments (unaudited)

as of March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 98.7%** |  |  |  |  |  |
| &nbsp;&nbsp; **ASSET-BACKED SECURITIES 53.1%** |  |  |  |  |  |
| &nbsp;&nbsp; **Automobiles 1.0%** |  |  |  |  |  |
| &nbsp;&nbsp; <br> Ally Bank Auto Credit-Linked Notes, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class E, 144A | 6.164% | 09/15/33 |  | 1993 | $1997950 |
| &nbsp;&nbsp; Bayview Opportunity Master Fund VII LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CAR01, Class E, 144A, 30 Day Average SOFR + 3.600% (Cap N/A, Floor 0.000%) | 7.262 (c) | 12/26/31 |  | 494 | 501057 |
| &nbsp;&nbsp; Bayview Opportunity Master Fund VII Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CAR1F, Class A, 144A | 6.971 | 07/29/32 |  | 273 | 273090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SN01, Class D, 144A | 6.360 | 07/16/29 |  | 1000 | 1017204 |
| &nbsp;&nbsp; Exeter Automobile Receivables Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03A, Class C | 5.090 | 10/15/31 |  | 2000 | 2010945 |
| &nbsp;&nbsp; Merchants Fleet Funding LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class D, 144A | 5.760 | 01/20/39 |  | 6600 | 6597305 |
| &nbsp;&nbsp; OneMain Direct Auto Receivables Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class D, 144A | 5.900 | 12/16/30 |  | 1100 | 1102712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01A, Class D, 144A | 7.070 | 02/14/33 |  | 1000 | 1026611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class D, 144A | 6.100 | 07/14/37 |  | 8359 | 8524191 |
| &nbsp;&nbsp; Santander Drive Auto Receivables Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01, Class D | 5.430 | 03/17/31 |  | 3000 | 3032153 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26083218 |
| &nbsp;&nbsp; **Collateralized Loan Obligations 35.7%** |  |  |  |  |  |
| &nbsp;&nbsp; <br> AlbaCore Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 02A, Class B, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | 3.800 (c) | 06/15/34 | EUR | 5400 | 6206718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 04A, Class BR, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.916 (c) | 07/15/35 | EUR | 4000 | 4607265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 06A, Class CR, 144A, 3 Month EURIBOR + 2.400% (Cap N/A, Floor 2.400%) | 4.416 (c) | 10/15/37 | EUR | 11950 | 13676603 |
| &nbsp;&nbsp; Anchorage Capital CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-07A, Class BR3, 144A, 3 Month SOFR + 2.050% (Cap N/A, Floor 2.050%) | 5.721 (c) | 04/28/37 |  | 3124 | 3128692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-11A, Class BR2, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.950%) | 5.619 (c) | 07/22/37 |  | 2000 | 2002747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-26A, Class BR, 144A, 3 Month SOFR + 2.050% (Cap N/A, Floor 2.050%) | 5.718 (c) | 03/19/38 |  | 10000 | 10009932 |
| &nbsp;&nbsp; Anchorage Capital Europe CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 06A, Class BRR, 144A, 3 Month EURIBOR + 1.950% (Cap N/A, Floor 1.950%) | 3.977 (c) | 10/22/38 | EUR | 14750 | 16945143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 08A, Class B1R, 144A, 3 Month EURIBOR + 2.100% (Cap N/A, Floor 2.100%) | 4.130 (c) | 10/25/38 | EUR | 5000 | 5765721 |
| &nbsp;&nbsp; Ares CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-41A, Class BR, 144A, 3 Month SOFR + 1.712% (Cap N/A, Floor 1.450%) | 5.384 (c) | 04/15/34 |  | 1000 | 999691 |
| &nbsp;&nbsp; Armada Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 07A, Class B, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.716 (c) | 04/15/39 | EUR | 5000 | 5766372 |
| &nbsp;&nbsp; Atlas Senior Loan Fund Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-15A, Class A2R, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.421 (c) | 10/23/32 |  | 4000 | 3998981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-24A, Class B, 144A, 3 Month SOFR + 1.900% (Cap N/A, Floor 1.900%) | 5.568 (c) | 01/20/38 |  | 8000 | 8009795 |
| &nbsp;&nbsp; Atlas Static Senior Loan Fund Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class BR, 144A, 3 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.322 (c) | 07/15/30 |  | 299 | 298963 |
| &nbsp;&nbsp; Aurium CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 08A, Class BR, 144A, 3 Month EURIBOR + 1.850% (Cap N/A, Floor 1.850%) | 3.863 (c) | 10/16/38 | EUR | 15000 | 17216162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 08A, Class CR, 144A, 3 Month EURIBOR + 2.150% (Cap N/A, Floor 2.150%) | 4.163 (c) | 10/16/38 | EUR | 4830 | 5494492 |
| &nbsp;&nbsp; Avoca Capital CLO Ltd. (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 10A, Class B1RR, 144A, 3 Month EURIBOR + 1.350% (Cap N/A, Floor 1.350%) | 3.366 (c) | 04/15/35 | EUR | 750 | 859538 |
| &nbsp;&nbsp; Bain Capital Credit CLO Ltd. (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-04A, Class A1R, 144A, 3 Month SOFR + 1.380% (Cap N/A, Floor 1.380%) | 5.051 (c) | 10/16/37 |  | 8500 | 8503256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-04A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.421 (c) | 10/16/37 |  | 5000 | 5001357 |
| &nbsp;&nbsp; Bain Capital Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-02A, Class AR, 144A, 3 Month EURIBOR + 0.740% (Cap N/A, Floor 0.740%) | 2.766 (c) | 01/20/32 | EUR | 78 | 90660 |
| &nbsp;&nbsp; Balboa Bay Loan Funding Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-02A, Class B, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | 5.368 (c) | 01/20/38 |  | 9000 | 9005135 |
| &nbsp;&nbsp; Barings Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-01A, Class B1RR, 144A, 3 Month EURIBOR + 1.800% (Cap N/A, Floor 1.800%) | 3.830 (c) | 07/25/35 | EUR | 2000 | 2299012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-01A, Class A, 144A, 3 Month EURIBOR + 0.800% (Cap N/A, Floor 0.800%) | 2.830 (c) | 04/24/34 | EUR | 1925 | 2215352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-02A, Class B1, 144A, 3 Month EURIBOR + 1.750% (Cap N/A, Floor 1.750%) | 3.766 (c) | 10/15/34 | EUR | 3950 | 4539443 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 1

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **ASSET-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Collateralized Loan Obligations (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; <br> Barrow Hanley CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01A, Class BR, 144A, 3 Month SOFR + 1.740% (Cap N/A, Floor 1.740%) | 5.408 %(c) | 01/20/38 |  | 10000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10005108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-03A, Class D, 144A, 3 Month SOFR + 4.150% (Cap N/A, Floor 4.150%) | 7.818 (c) | 04/20/37 |  | 1250 | 1248036 |
| &nbsp;&nbsp; Bastille Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-03A, Class A2AR, 144A, 3 Month EURIBOR + 2.150% (Cap N/A, Floor 2.150%) | 4.166 (c) | 01/15/39 | EUR | 7750 | 8945548 |
| &nbsp;&nbsp; Battalion CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-17A, Class A1R, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) | 4.968 (c) | 03/09/34 |  | 2000 | 2000686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-23A, Class A1R, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) | 5.092 (c) | 10/15/37 |  | 5500 | 5504883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-29A, Class B, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.472 (c) | 03/31/38 |  | 12500 | 12524935 |
| &nbsp;&nbsp; BCRED BSL Static CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class BR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.518 (c) | 07/24/35 |  | 10000 | 10002307 |
| &nbsp;&nbsp; Canyon Capital CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-01A, Class BRR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.472 (c) | 07/15/37 |  | 2000 | 2001082 |
| &nbsp;&nbsp; Canyon Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class B, 144A, 3 Month EURIBOR + 1.800% (Cap N/A, Floor 1.800%) | 3.816 (c) | 04/15/38 | EUR | 10000 | 11522980 |
| &nbsp;&nbsp; Capital Four CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 10A, Class D, 144A, 3 Month EURIBOR + 3.100% (Cap N/A, Floor 3.100%) | 5.129 (c) | 10/25/38 | EUR | 8900 | 10234043 |
| &nbsp;&nbsp; Carlyle Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-01A, Class A2AR, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.716 (c) | 07/15/34 | EUR | 5125 | 5904784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-02A, Class A2A, 144A, 3 Month EURIBOR + 1.750% (Cap N/A, Floor 1.750%) | 3.766 (c) | 10/15/35 | EUR | 500 | 574935 |
| &nbsp;&nbsp; Carlyle US CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-03A, Class A2, 144A, 3 Month SOFR + 1.720% (Cap N/A, Floor 1.720%) | 5.388 (c) | 07/25/36 |  | 9750 | 9740408 |
| &nbsp;&nbsp; CarVal CLO Ltd. (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01A, Class A1R, 144A, 3 Month SOFR + 1.440% (Cap N/A, Floor 1.440%) | 5.108 (c) | 07/20/37 |  | 4000 | 4000949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-03A, Class A1, 144A, 3 Month SOFR + 1.390% (Cap N/A, Floor 1.390%) | 5.058 (c) | 10/20/37 |  | 8250 | 8255661 |
| &nbsp;&nbsp; Carysfort Park CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-01A, Class A2, 144A, 3 Month EURIBOR + 1.250% (Cap N/A, Floor 1.250%) | 3.288 (c) | 07/28/34 | EUR | 2000 | 2288135 |
| &nbsp;&nbsp; CBAM Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-07A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | 5.029 (c) | 07/20/31 |  | 72 | 71951 |
| &nbsp;&nbsp; CBAMR Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-08A, Class DR, 144A, 3 Month SOFR + 4.000% (Cap N/A, Floor 4.000%) | 7.672 (c) | 07/15/37 |  | 7580 | 7617958 |
| &nbsp;&nbsp; CIFC Funding Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-05A, Class AR, 144A, 3 Month SOFR + 1.410% (Cap N/A, Floor 1.410%) | 5.078 (c) | 07/17/37 |  | 6700 | 6704377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03A, Class A1, 144A, 3 Month SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.020 (c) | 07/21/38 |  | 15000 | 15014650 |
| &nbsp;&nbsp; Contego CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 05A, Class B1R, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.716 (c) | 10/15/37 | EUR | 2250 | 2582730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 05A, Class CR, 144A, 3 Month EURIBOR + 2.150% (Cap N/A, Floor 2.150%) | 4.166 (c) | 10/15/37 | EUR | 8000 | 9148015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 14A, Class C, 144A, 3 Month EURIBOR + 2.150% (Cap N/A, Floor 2.150%) | 4.264 (c) | 10/15/37 | EUR | 1200 | 1380404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 15A, Class A, 144A, 3 Month EURIBOR + 1.230% (Cap N/A, Floor 1.230%) | 3.309 (c) | 04/15/40 | EUR | 10000 | 11509589 |
| &nbsp;&nbsp; CQS US CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-01A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.418 (c) | 01/20/35 |  | 7000 | 7001196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-03A, Class B, 144A, 3 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.318 (c) | 01/25/37 |  | 2400 | 2390735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-03A, Class D, 144A, 3 Month SOFR + 4.200% (Cap N/A, Floor 4.200%) | 7.868 (c) | 01/25/37 |  | 1000 | 998016 |
| &nbsp;&nbsp; Crosthwaite Park CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 01A, Class A2AR, 144A, 3 Month EURIBOR + 1.600% (Cap N/A, Floor 1.600%) | 3.750 (c) | 03/15/34 | EUR | 1500 | 1724992 |
| &nbsp;&nbsp; Elevation CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-03A, Class BR2, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.518 (c) | 01/25/35 |  | 3000 | 3001520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-03A, Class CR2, 144A, 3 Month SOFR + 2.300% (Cap N/A, Floor 2.300%) | 5.968 (c) | 01/25/35 |  | 2000 | 2002135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-11A, Class BR, 144A, 3 Month SOFR + 2.000% (Cap N/A, Floor 2.000%) | 5.672 (c) | 10/15/37 |  | 2500 | 2505000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-12A, Class BR, 144A, 3 Month SOFR + 2.170% (Cap N/A, Floor 2.170%) | 5.838 (c) | 04/20/37 |  | 1500 | 1495648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-12A, Class D1AR, 144A, 3 Month SOFR + 4.300% (Cap N/A, Floor 4.300%) | 7.968 (c) | 04/20/37 |  | 1500 | 1501038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-13A, Class BR, 144A, 3 Month SOFR + 1.600% (Cap N/A, Floor 1.600%) | 5.272 (c) | 07/15/34 |  | 13950 | 13930259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-14A, Class BR, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | 5.368 (c) | 01/20/38 |  | 6000 | 5997943 |
| &nbsp;&nbsp; Elmwood CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-05A, Class A, 144A, 3 Month SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.018 (c) | 03/31/38 |  | 10000 | 10010477 |
| &nbsp;&nbsp; Empower CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-02A, Class D1R, 144A, 3 Month SOFR + 2.800% (Cap N/A, Floor 2.800%) | 6.472 (c) | 10/15/38 |  | 2000 | 1977521 |
| &nbsp;&nbsp; Gallatin CLO Ltd. (Bermuda), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01A, Class BR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 6.962 (c) | 10/14/36 |  | 10000 | 10003669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01A, Class B, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.950%) | 5.618 (c) | 10/20/37 |  | 5000 | 5007117 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **ASSET-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Collateralized Loan Obligations (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; <br> Garnet CLO Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03A, Class A1, 144A, 3 Month SOFR + 1.270% (Cap N/A, Floor 1.270%) | 5.053 %(c) | 10/20/38 |  | 12500 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12495152 |
| &nbsp;&nbsp; Golub Capital Partners CLO Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-62A, Class AR, 144A, 3 Month SOFR + 1.370% (Cap N/A, Floor 1.370%) | 5.042 (c) | 10/15/37 |  | 8000 | 8002609 |
| &nbsp;&nbsp; Grosvenor Place CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03A, Class B, 144A, 3 Month EURIBOR + 2.200% (Cap N/A, Floor 2.200%) | 4.184 (c) | 08/15/39 | EUR | 10000 | 11500954 |
| &nbsp;&nbsp; Hayfin Emerald CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 02A, Class B1R, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.711 (c) | 05/27/34 | EUR | 750 | 866700 |
| &nbsp;&nbsp; Series 10A, Class B1RR, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 2.000%) | 4.026 (c) | 10/18/39 | EUR | 10000 | 11522191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 14A, Class B, 144A, 3 Month EURIBOR + 2.200% (Cap N/A, Floor 2.200%) | 4.227 (c) | 01/22/39 | EUR | 11000 | 12714490 |
| &nbsp;&nbsp; Hayfin US Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-15A, Class B, 144A, 3 Month SOFR + 2.200% (Cap N/A, Floor 2.200%) | 5.871 (c) | 04/28/37 |  | 5000 | 5010001 |
| &nbsp;&nbsp; Henley CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 11A, Class B, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | 3.680 (c) | 04/25/39 | EUR | 12250 | 14078696 |
| &nbsp;&nbsp; ICG Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-01A, Class B1, 144A, 3 Month EURIBOR + 1.800% (Cap N/A, Floor 1.800%) | 3.816 (c) | 10/15/34 | EUR | 1500 | 1725257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01A, Class BR, 144A, 3 Month EURIBOR + 1.750% (Cap N/A, Floor 1.750%) | 3.776 (c) | 10/19/38 | EUR | 10000 | 11405834 |
| &nbsp;&nbsp; ICG US CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-03A, Class B1R, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.418 (c) | 10/20/34 |  | 2750 | 2749632 |
| &nbsp;&nbsp; Indigo Credit Management DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 02A, Class C, 144A, 3 Month EURIBOR + 2.650% (Cap N/A, Floor 2.650%) | 4.666 (c) | 07/15/38 | EUR | 5250 | 6023614 |
| &nbsp;&nbsp; Invesco Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 04A, Class B1, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.716 (c) | 04/15/33 | EUR | 2000 | 2301052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 06A, Class B1, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | 3.666 (c) | 07/15/34 | EUR | 3250 | 3731029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 14A, Class B1, 144A, 3 Month EURIBOR + 2.200% (Cap N/A, Floor 2.200%) | 4.216 (c) | 01/15/39 | EUR | 5000 | 5753050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 16A, Class B, 144A, 3 Month EURIBOR + 2.100% (Cap N/A, Floor 2.100%) | 4.218 (c) | 10/15/38 | EUR | 8000 | 9216417 |
| &nbsp;&nbsp; Jamestown CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-18A, Class DR, 144A, 3 Month SOFR + 3.750% (Cap N/A, Floor 3.750%) | 7.418 (c) | 07/25/35 |  | 3000 | 2949309 |
| &nbsp;&nbsp; Jubilee CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-17A, Class B1RR, 144A, 3 Month EURIBOR + 1.280% (Cap N/A, Floor 1.280%) | 3.296 (c) | 04/15/31 | EUR | 500 | 575195 |
| &nbsp;&nbsp; Kennedy Lewis CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-23A, Class A, 144A, 3 Month SOFR + 1.240% (Cap N/A, Floor 1.240%) | 5.160 (c) | 10/20/38 |  | 12500 | 12493732 |
| &nbsp;&nbsp; KKR CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 32A, Class BR, 144A, 3 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 5.772 (c) | 04/15/37 |  | 3000 | 2999134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 49A, Class AR, 144A, 3 Month SOFR + 1.380% (Cap N/A, Floor 1.380%) | 5.048 (c) | 10/20/37 |  | 5000 | 5001973 |
| &nbsp;&nbsp; Madison Park Funding Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-34A, Class A1RR, 144A, 3 Month SOFR + 1.370% (Cap N/A, Floor 1.370%) | 5.041 (c) | 10/16/37 |  | 11500 | 11503905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-39A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.419 (c) | 10/22/34 |  | 4750 | 4735818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-63A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.420 (c) | 07/21/38 |  | 8620 | 8636058 |
| &nbsp;&nbsp; Marathon CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-15A, Class A1B, 144A, 3 Month SOFR + 1.450% (Cap N/A, Floor 1.450%) | 5.103 (c) | 08/15/37 |  | 5000 | 4988556 |
| &nbsp;&nbsp; Marble Point CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-02A, Class BR2, 144A, 3 Month SOFR + 1.650% (Cap N/A, Floor 1.650%) | 5.322 (c) | 03/15/38 |  | 15000 | 14995044 |
| &nbsp;&nbsp; Menlo CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01A, Class A1, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) | 5.088 (c) | 01/20/38 |  | 7250 | 7254921 |
| &nbsp;&nbsp; Monument CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 01A, Class D, 144A, 3 Month EURIBOR + 4.350% (Cap N/A, Floor 4.350%) | 6.334 (c) | 05/15/37 | EUR | 3000 | 3482296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 03A, Class B, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.916 (c) | 04/15/38 | EUR | 15000 | 17258773 |
| &nbsp;&nbsp; Mountain View CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-09A, Class A2R, 144A, 3 Month SOFR + 2.042% (Cap N/A, Floor 0.000%) | 5.714 (c) | 07/15/31 |  | 521 | 521878 |
| &nbsp;&nbsp; Nassau Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 02A, Class BR, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.930 (c) | 04/25/39 | EUR | 15000 | 17149809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 04A, Class DR, 144A, 3 Month EURIBOR + 2.850% (Cap N/A, Floor 2.850%) | 4.876 (c) | 07/20/38 | EUR | 8790 | 9994904 |
| &nbsp;&nbsp; Neuberger Berman Loan Advisers CLO Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-26A, Class BR2, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.418 (c) | 10/18/38 |  | 5000 | 5008165 |
| &nbsp;&nbsp; NGC Ltd. (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01A, Class B, 144A, 3 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 5.768 (c) | 07/20/37 |  | 3500 | 3507013 |
| &nbsp;&nbsp; Oaktree CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-04A, Class BRR, 144A, 3 Month SOFR + 1.920% (Cap N/A, Floor 1.920%) | 5.588 (c) | 07/20/37 |  | 3750 | 3755626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-03A, Class A1R, 144A, 3 Month SOFR + 1.380% (Cap N/A, Floor 1.380%) | 5.052 (c) | 10/15/37 |  | 8000 | 8004831 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 3

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **ASSET-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Collateralized Loan Obligations (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; <br> Octagon Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class B, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.950%) | 5.603 %(c) | 05/15/35 |  | 600 | $600419 |
| &nbsp;&nbsp; OFSI BSL CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-13A, Class D1, 144A, 3 Month SOFR + 4.500% (Cap N/A, Floor 4.500%) | 8.168 (c) | 04/20/37 |  | 1000 | 1001017 |
| &nbsp;&nbsp; OFSI BSL Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-12A, Class BR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.468 (c) | 01/20/38 |  | 12950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12975035 |
| &nbsp;&nbsp; Palmer Square European CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-02A, Class BRR, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 2.000%) | 4.016 (c) | 01/15/38 | EUR | 8000 | 9235669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class B1, 144A, 3 Month EURIBOR + 1.850% (Cap N/A, Floor 1.850%) | 3.866 (c) | 10/15/39 | EUR | 15000 | 17245704 |
| &nbsp;&nbsp; Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-02A, Class A2RR, 144A, 3 Month SOFR + 1.500% (Cap N/A, Floor 1.500%) | 5.163 (c) | 10/15/34 |  | 6500 | 6495847 |
| &nbsp;&nbsp; Penta CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-03A, Class BRR, 144A, 3 Month EURIBOR + 1.800% (Cap N/A, Floor 1.800%) | 3.826 (c) | 10/17/38 | EUR | 10000 | 11497173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-14A, Class BR, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.933 (c) | 10/20/37 | EUR | 3500 | 4029241 |
| &nbsp;&nbsp; Polen Capital CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class B, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | 5.368 (c) | 03/06/38 |  | 7000 | 6997673 |
| &nbsp;&nbsp; PPM CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-04A, Class D1R2, 144A, 3 Month SOFR + 3.350% (Cap N/A, Floor 3.350%) | 7.018 (c) | 03/18/38 |  | 8800 | 8737531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-06RA, Class A2R, 144A, 3 Month SOFR + 2.150% (Cap N/A, Floor 2.150%) | 5.818 (c) | 01/20/37 |  | 4000 | 4001205 |
| &nbsp;&nbsp; Providus CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 05A, Class CR, 144A, 3 Month EURIBOR + 2.100% (Cap N/A, Floor 2.100%) | 4.084 (c) | 11/15/39 | EUR | 12250 | 13969019 |
| &nbsp;&nbsp; Regatta Funding Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-02A, Class D1, 144A, 3 Month SOFR + 4.000% (Cap N/A, Floor 4.000%) | 7.668 (c) | 04/25/37 |  | 3000 | 2993019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rockford Tower CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-03A, Class BR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.522 (c) | 01/15/38 |  | 5325 | 5327935 |
| &nbsp;&nbsp; Rockford Tower Europe CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-01A, Class B1R, 144A, 3 Month EURIBOR + 2.100% (Cap N/A, Floor 2.100%) | 4.126 (c) | 01/20/38 | EUR | 5200 | 5996308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-01A, Class B1, 144A, 3 Month EURIBOR + 1.250% (Cap N/A, Floor 1.250%) | 3.276 (c) | 04/20/34 | EUR | 2000 | 2310752 |
| &nbsp;&nbsp; RR Ltd. (Bermuda), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-40A, Class A2, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.472 (c) | 07/15/38 |  | 10000 | 10021341 |
| &nbsp;&nbsp; Saratoga Investment Corp. CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-01A, Class A1R4, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) | 4.968 (c) | 04/20/33 |  | 1316 | 1316534 |
| &nbsp;&nbsp; Sculptor European CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 07A, Class BR, 144A, 3 Month EURIBOR + 2.050% (Cap N/A, Floor 2.050%) | 4.066 (c) | 01/15/38 | EUR | 8000 | 9208711 |
| &nbsp;&nbsp; Signal Harmonic CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 01A, Class BR, 144A, 3 Month EURIBOR + 2.050% (Cap N/A, Floor 2.050%) | 4.066 (c) | 07/15/38 | EUR | 11500 | 13266661 |
| &nbsp;&nbsp; Signal Peak CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-01A, Class A1R, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) | 5.088 (c) | 10/20/37 |  | 6000 | 6005387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-09A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.420 (c) | 01/21/38 |  | 10415 | 10412890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-11A, Class A1, 144A, 3 Month SOFR + 1.450% (Cap N/A, Floor 1.450%) | 5.118 (c) | 07/18/37 |  | 15000 | 15009952 |
| &nbsp;&nbsp; Signal Peak CLO Ltd. (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-12A, Class BR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.468 (c) | 07/18/37 |  | 2000 | 1997159 |
| &nbsp;&nbsp; Silver Rock CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-01A, Class A1RR, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) | 5.088 (c) | 10/20/37 |  | 2000 | 2002095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-01A, Class BRR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.518 (c) | 10/20/37 |  | 2000 | 2001102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-01A, Class CRR, 144A, 3 Month SOFR + 2.500% (Cap N/A, Floor 2.500%) | 6.168 (c) | 10/20/37 |  | 6000 | 6008351 |
| &nbsp;&nbsp; Sixth Street CLO Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-15A, Class AR, 144A, 3 Month SOFR + 1.370% (Cap N/A, Floor 1.370%) | 5.038 (c) | 10/24/37 |  | 6760 | 6762425 |
| &nbsp;&nbsp; Sona Fios CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 04A, Class B, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.926 (c) | 04/20/38 | EUR | 10000 | 11507537 |
| &nbsp;&nbsp; Sound Point CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-01A, Class BR, 144A, 3 Month SOFR + 1.912% (Cap N/A, Floor 1.912%) | 5.579 (c) | 07/20/34 |  | 990 | 989849 |
| &nbsp;&nbsp; St. Pauls CLO (Netherlands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 11A, Class C2R, 144A | 2.500 | 01/17/32 | EUR | 750 | 822479 |
| &nbsp;&nbsp; TCW CLO AMR Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-01A, Class BR, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.750%) | 5.605 (c) | 08/16/34 |  | 5000 | 4997851 |
| &nbsp;&nbsp; TCW CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-02A, Class BR2, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.418 (c) | 01/20/38 |  | 15000 | 15003916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01A, Class A1R, 144A, 3 Month SOFR + 1.380% (Cap N/A, Floor 1.380%) | 5.048 (c) | 03/31/38 |  | 4000 | 4001483 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **ASSET-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Collateralized Loan Obligations (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; <br> Tikehau CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 09A, Class CR, 144A, 3 Month EURIBOR + 2.450% (Cap N/A, Floor 2.450%) | 4.476 %(c) | 01/20/37 | EUR | 4000 | $4616936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 11A, Class BR, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 2.000%) | 4.016 (c) | 01/15/38 | EUR | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17231360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 13A, Class B, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.716 (c) | 10/15/38 | EUR | 15000 | 17195071 |
| &nbsp;&nbsp; Tikehau US CLO Ltd. (Bermuda), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class BR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.468 (c) | 01/20/38 |  | 4600 | 4602671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01A, Class B, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.518 (c) | 07/18/37 |  | 4100 | 4102217 |
| &nbsp;&nbsp; Toro European CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 02A, Class B1RR, 144A, 3 Month EURIBOR + 1.850% (Cap N/A, Floor 1.850%) | 3.880 (c) | 07/25/34 | EUR | 3000 | 3453536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 08A, Class BR, 144A, 3 Month EURIBOR + 2.050% (Cap N/A, Floor 2.050%) | 4.066 (c) | 04/15/35 | EUR | 2000 | 2303692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 10A, Class B, 144A, 3 Month EURIBOR + 1.850% (Cap N/A, Floor 1.850%) | 3.866 (c) | 04/15/38 | EUR | 10000 | 11472665 |
| &nbsp;&nbsp; Trimaran CAVU Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class AR, 144A, 3 Month SOFR + 1.400% (Cap N/A, Floor 1.400%) | 5.069 (c) | 10/22/37 |  | 5000 | 5003788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class BR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.519 (c) | 10/22/37 |  | 2000 | 2004571 |
| &nbsp;&nbsp; Trinitas CLO Ltd. (Bermuda), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-24A, Class B, 144A, 3 Month SOFR + 2.300% (Cap N/A, Floor 2.300%) | 5.968 (c) | 04/25/37 |  | 2500 | 2497761 |
| &nbsp;&nbsp; Valley Stream Park CLO Ltd. (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class DRR, 144A, 3 Month SOFR + 2.700% (Cap N/A, Floor 2.700%) | 6.368 (c) | 01/20/37 |  | 3275 | 3110230 |
| &nbsp;&nbsp; Venture CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-19A, Class ARR, 144A, 3 Month SOFR + 1.522% (Cap N/A, Floor 1.260%) | 5.194 (c) | 01/15/32 |  | 436 | 436220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-49A, Class AJ, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.468 (c) | 04/20/37 |  | 800 | 799917 |
| &nbsp;&nbsp; Voya Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 03A, Class CR, 144A, 3 Month EURIBOR + 2.350% (Cap N/A, Floor 2.350%) | 4.288 (c) | 03/16/38 | EUR | 5250 | 6050578 |
| &nbsp;&nbsp; Wellfleet CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-02A, Class D1R, 144A, 3 Month SOFR + 3.650% (Cap N/A, Floor 3.650%) | 7.318 (c) | 10/18/37 |  | 5000 | 4960802 |
| &nbsp;&nbsp; Wind River CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-03A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.418 (c) | 04/20/38 |  | 10350 | 10347898 |
| &nbsp;&nbsp; Z Capital Credit Partners BSL CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01A, Class C, 144A, 3 Month SOFR + 3.650% (Cap N/A, Floor 3.650%) | 7.321 (c) | 04/16/36 |  | 2000 | 2002262 |
|  |  |  |  |  | <br> 965827513 |
| &nbsp;&nbsp; **Consumer Loans 3.0%** |  |  |  |  |  |
| &nbsp;&nbsp; <br> Affirm Asset Securitization Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B, Class D, 144A | 5.500 | 09/15/29 |  | 500 | 500275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-X02, Class D, 144A | 6.080 | 12/17/29 |  | 5200 | 5213038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-X01, Class D, 144A | 6.110 | 04/15/30 |  | 10400 | 10445607 |
| &nbsp;&nbsp; Affirm Master Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class E, 144A | 7.180 | 02/15/33 |  | 6000 | 6039759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-02A, Class D, 144A | 5.600 | 07/15/33 |  | 5700 | 5709866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03A, Class E, 144A | 6.800 | 10/16/34 |  | 5000 | 4944619 |
| &nbsp;&nbsp; Cherry Securitization Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class A, 144A | 6.130 | 11/15/32 |  | 10300 | 10400667 |
| &nbsp;&nbsp; GreenSky Home Improvement Issuer Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-02A, Class C, 144A | 5.260 | 06/25/60 |  | 4500 | 4491806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03A, Class D, 144A | 5.150 | 12/27/60 |  | 4000 | 3945459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03A, Class E, 144A | 7.830 | 12/27/60 |  | 6400 | 6516668 |
| &nbsp;&nbsp; GreenSky Home Improvement Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01, Class A2, 144A | 5.880 | 06/25/59 |  | 405 | 406202 |
| &nbsp;&nbsp; Island Finance Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class A, 144A | 6.540 | 03/19/35 |  | 2000 | 2013416 |
| &nbsp;&nbsp; Onemain Financial Issuance Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class D, 144A | 5.790 | 07/14/38 |  | 1800 | 1811154 |
| &nbsp;&nbsp; OneMain Financial Issuance Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-02A, Class D, 144A | 6.550 | 10/14/34 |  | 1180 | 1185490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01A, Class C, 144A | 6.380 | 06/14/38 |  | 7500 | 7735334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-02A, Class D, 144A | 7.520 | 09/15/36 |  | 2500 | 2578284 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 5

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **ASSET-BACKED SECURITIES (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Consumer Loans (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; <br> Sotheby's Artfi Master Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-01A, Class D, 144A | 5.540% | 06/20/33 | 3800 | $3794518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stream Innovations Issuer Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class B, 144A | 5.480 | 09/15/45 | 3058 | 3075763 |
|  |  |  |  | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80807925 |
| &nbsp;&nbsp; **Credit Cards 0.4%** |  |  |  |  |
| &nbsp;&nbsp; <br> Evergreen Credit Card Trust (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CRT04, Class C, 144A | 5.640 | 10/15/28 | 5000 | 5016742 |
| &nbsp;&nbsp; Genesis Sales Finance Master Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B, Class B, 144A | 6.260 | 12/20/32 | 5667 | 5699005 |
|  |  |  |  | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10715747 |
| &nbsp;&nbsp; **Equipment 1.0%** |  |  |  |  |
| &nbsp;&nbsp; <br> Auxilior Term Funding LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01A, Class D, 144A | 7.270 | 12/16/30 | 500 | 514071 |
| &nbsp;&nbsp; Capteris Equipment Finance LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-01A, Class D, 144A | 5.570 | 09/20/33 | 3650 | 3648983 |
| &nbsp;&nbsp; Lmdv Issuer Co. LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class B, 144A | 5.900 | 12/15/55 | 3600 | 3592981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class C, 144A | 7.880 | 12/15/55 | 4500 | 4519439 |
| &nbsp;&nbsp; MetroNet Infrastructure Issuer LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-02A, Class C, 144A | 7.830 | 08/20/55 | 7500 | 7612202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-04A, Class C, 144A | 7.112 | 12/20/55 | 5000 | 4960208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-01A, Class C, 144A | 7.100 | 04/20/56 | 2100 | 2080612 |
| &nbsp;&nbsp; VB-S1 Issuer LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-01A, Class F, 144A | 6.843 | 03/15/56 | 1750 | 1757387 |
|  |  |  |  | <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28685883 |
| &nbsp;&nbsp; **Home Equity Loans 7.5%** |  |  |  |  |
| &nbsp;&nbsp; <br> BRAVO Residential Funding Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES02, Class A2, 144A | 5.592 (cc) | 09/25/54 | 2400 | 2402275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES02, Class A1, 144A | 4.960 (cc) | 07/26/55 | 4397 | 4369940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES03, Class A2, 144A | 5.292 (cc) | 12/25/55 | 3828 | 3803677 |
| &nbsp;&nbsp; COOPR Residential Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES02, Class M1, 144A | 6.130 (cc) | 06/25/60 | 3000 | 3013912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES03, Class A1A, 144A | 4.840 (cc) | 09/25/60 | 3456 | 3429715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES03, Class A3, 144A | 5.229 (cc) | 09/25/60 | 1500 | 1483560 |
| &nbsp;&nbsp; EFMT, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES01, Class A2, 144A | 5.796 (cc) | 01/26/60 | 4685 | 4714840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES01, Class A1A, 144A | 5.726 (cc) | 01/25/60 | 5155 | 5180217 |
| &nbsp;&nbsp; Ellington Financial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-CES01, Class A1A, 144A | 4.914 (cc) | 12/25/60 | 5764 | 5709251 |
| &nbsp;&nbsp; FIGRE Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HE04, Class A, 144A | 5.408 (cc) | 07/25/55 | 7637 | 7643195 |
| &nbsp;&nbsp; GS Mortgage Backed Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES01, Class A1A, 144A | 5.568 (cc) | 05/25/55 | 12350 | 12383212 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HE01, Class A1, 144A, 30 Day Average SOFR + 1.600% (Cap N/A, Floor 1.600%) | 5.262 (c) | 08/25/54 | 3394 | 3399460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HE02, Class A1, 144A, 30 Day Average SOFR + 1.500% (Cap N/A, Floor 1.500%) | 5.162 (c) | 01/25/55 | 3707 | 3708408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HE02, Class M1, 144A, 30 Day Average SOFR + 2.000% (Cap N/A, Floor 2.000%) | 5.662 (c) | 01/25/55 | 3600 | 3611584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-AH01, Class A1A, 144A, 30 Day Average SOFR + 1.500% (Cap N/A, Floor 0.000%) | 5.162 (c) | 07/25/56 | 4064 | 4059197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-CES01, Class A1, 144A | 4.899 (cc) | 05/25/56 | 7166 | 7102958 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-HE03, Class M1, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | 5.773 (c) | 05/20/54 | 581 | 583132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HE02, Class M1, 144A, 30 Day Average SOFR + 1.700% (Cap N/A, Floor 0.000%) | 5.373 (c) | 10/20/54 | 1701 | 1705380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES01, Class A1, 144A | 5.666 (cc) | 05/25/55 | 4682 | 4701691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES05, Class A3, 144A | 5.548 (cc) | 02/25/56 | 3023 | 3014229 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **ASSET-BACKED SECURITIES (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Home Equity Loans (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; <br> NLT Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES01, Class A1, 144A | 5.038 %(cc) | 08/25/60 | 2059 | $2050165 |
| &nbsp;&nbsp; RCKT Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES03, Class A1A, 144A | 6.591 (cc) | 05/25/44 | 1634 | 1649097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES04, Class A1A, 144A | 6.147 (cc) | 06/25/44 | 2070 | 2084693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES08, Class A2, 144A | 5.659 (cc) | 11/25/44 | 4700 | 4713440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES08, Class A3, 144A | 5.908 (cc) | 11/25/44 | 1900 | 1906758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES09, Class A1A, 144A | 5.582 (cc) | 12/25/44 | 1506 | 1511629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES09, Class A2, 144A | 5.830 (cc) | 12/25/44 | 6700 | 6733633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES01, Class A2, 144A | 5.913 (cc) | 01/25/45 | 8250 | 8308431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES02, Class A1A, 144A | 5.503 (cc) | 02/25/55 | 3101 | 3112523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES04, Class A1A, 144A | 5.811 (cc) | 04/25/55 | 5394 | 5434359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES06, Class M1, 144A | 6.158 (cc) | 06/25/55 | 3705 | 3720475 |
| &nbsp;&nbsp; Towd Point Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-CES01, Class A1A, 144A | 6.750 (cc) | 07/25/63 | 538 | 538124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-CES02, Class A1A, 144A | 7.294 (cc) | 10/25/63 | 877 | 882202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES03, Class A1, 144A | 6.290 (cc) | 05/25/64 | 2219 | 2237018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES03, Class M1, 144A | 6.811 (cc) | 05/25/64 | 1100 | 1111544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES04, Class A1, 144A | 5.122 (cc) | 09/25/64 | 2046 | 2040669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES05, Class A2, 144A | 5.202 (cc) | 09/25/64 | 2289 | 2282122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CES05, Class M1, 144A | 5.601 (cc) | 09/25/64 | 4855 | 4846631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES01, Class A2, 144A | 5.926 (cc) | 02/25/55 | 9000 | 9058949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES01, Class M1, 144A | 6.076 (cc) | 02/25/55 | 6500 | 6534382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES01, Class M2A, 144A | 6.574 (cc) | 02/25/55 | 4800 | 4833934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES01, Class M2B, 144A | 6.872 (cc) | 02/25/55 | 4000 | 4027749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES02, Class A1, 144A | 5.348 (cc) | 07/25/65 | 18098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18098592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES03, Class A2, 144A | 5.617 (cc) | 08/25/65 | 4000 | 4012227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES04, Class A1B, 144A | 5.293 (cc) | 10/25/65 | 3165 | 3154749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CRM01, Class A1, 144A | 5.799 (cc) | 01/25/65 | 6996 | 7041592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FIX01, Class A1, 144A | 4.968 (cc) | 09/25/65 | 4492 | 4452664 |
|  |  |  |  | <br> 202398184 |
| &nbsp;&nbsp; **Other 3.6%** |  |  |  |  |
| &nbsp;&nbsp; <br> Capital Street Master Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01, Class A, 144A, 30 Day Average SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.022 (c) | 10/16/28 | 2700 | 2701475 |
| &nbsp;&nbsp; GoodLeap Home Improvement Solutions Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class A, 144A | 5.380 | 02/20/49 | 4619 | 4633122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-02A, Class A, 144A | 5.320 | 06/20/49 | 5036 | 5064231 |
| &nbsp;&nbsp; GoodLeap Sustainable Home Solutions Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-02GS, Class A, 144A | 5.700 | 05/20/55 | 4166 | 3841483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-04C, Class A, 144A | 6.480 | 03/20/57 | 792 | 766047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01GS, Class A, 144A | 6.250 | 06/20/57 | 1951 | 1879677 |
| &nbsp;&nbsp; Invitation Homes Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR01, Class B, 144A | 4.000 | 09/17/41 | 1800 | 1736947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR01, Class C, 144A | 4.250 | 09/17/41 | 2400 | 2325142 |
| &nbsp;&nbsp; Kapitus Asset Securitization V LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class A, 144A | 5.460 | 04/10/32 | 4500 | 4488777 |
| &nbsp;&nbsp; OnDeck Asset Securitization IV LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class A, 144A | 5.080 | 04/19/32 | 4800 | 4811735 |
| &nbsp;&nbsp; OnDeck Asset Securitization Trust IV LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01A, Class B, 144A | 8.250 | 08/19/30 | 6200 | 6214079 |
| &nbsp;&nbsp; PK Alift Loan Funding 6 LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01, Class A, 144A | 5.365 | 11/15/42 | 9910 | 9982566 |
| &nbsp;&nbsp; PMT Issuer Trust - FMSR, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-FT01, Class A, 144A, 1 Month SOFR + 2.750% (Cap N/A, Floor 2.750%) | 6.429 (c) | 12/25/27 | 5200 | 5209461 |
| &nbsp;&nbsp; Sierra Timeshare Receivables Funding LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-02A, Class D, 144A | 9.720 | 04/20/40 | 132 | 137963 |
| &nbsp;&nbsp; Sunrun Bacchus Issuer LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class A1, 144A | 5.990 | 04/30/60 | 6413 | 6429868 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 7

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **ASSET-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Other (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; <br> Sunrun Vesta Issuer LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-03A, Class A1, 144A | 5.490% | 10/30/59 |  | 535 | $524762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-03A, Class A2, 144A | 5.880 | 10/30/59 |  | 6389 | 6176545 |
| &nbsp;&nbsp; Tricon Residential Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR01, Class B, 144A, 1 Month SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.023 (c) | 03/17/42 |  | 4400 | 4394969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR01, Class C, 144A, 1 Month SOFR + 1.600% (Cap N/A, Floor 1.600%) | 5.273 (c) | 03/17/42 |  | 4250 | 4245849 |
| &nbsp;&nbsp; U.S. Bank NA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SUP01, Class B, 144A | 5.582 | 02/25/32 |  | 10015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10063127 |
| &nbsp;&nbsp; US Bank C&I Credit-Linked Notes, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SUP02, Class C, 144A, 30 Day Average SOFR + 1.900% (Cap N/A, Floor 0.000%) | 5.562 (c) | 09/25/32 |  | 5347 | 5367490 |
| &nbsp;&nbsp; Wireless PropCo Funding LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class A2, 144A | 4.070 | 06/25/55 |  | 6000 | 5745137 |
|  |  |  |  |  | <br> 96740452 |
| &nbsp;&nbsp; **Residential Mortgage-Backed Securities 0.8%** |  |  |  |  |  |
| &nbsp;&nbsp; <br> PRET LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL03, Class A1, 144A | 6.708 (cc) | 04/25/55 |  | 10829 | 10838933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL05, Class A1, 144A | 6.244 (cc) | 05/25/55 |  | 6630 | 6640697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL07, Class A1, 144A | 5.657 (cc) | 07/25/55 |  | 3604 | 3610638 |
| &nbsp;&nbsp; TFS (Spain), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-03^ | 0.000 (s) | 04/16/40 | EUR | — (r) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-03, Class A1, 1 Month EURIBOR + 3.250%^ | 5.199 (c) | 03/15/27 | EUR | 122 | 106133 |
|  |  |  |  |  | <br> 21196402 |
| &nbsp;&nbsp; **Small Business Loan 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; <br> NALP Business Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-01, Class A, 144A | 5.720 | 06/26/51 |  | 3102 | 3091106 |
| &nbsp;&nbsp; **Student Loan 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Laurel Road Prime Student Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-A, Class R, 144A | 0.000 | 10/25/48 |  | 679 | 325771 |
|  **TOTAL ASSET-BACKED SECURITIES** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $1,417,606,810) |  |  |  |  | 1435872201 |
|  **COMMERCIAL MORTGAGE-BACKED SECURITIES 22.9%** |  |  |  |  |  |
| <br> 20 Times Square Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-20TS, Class F, 144A(x) | 3.100 (cc) | 05/15/35 |  | 520 | 462800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-20TS, Class G, 144A(x) | 3.100 (cc) | 05/15/35 |  | 200 | 172000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-20TS, Class H, 144A(x) | 3.100 (cc) | 05/15/35 |  | 100 | 83500 |
| &nbsp;&nbsp; Aesir European Loan Conduit DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 41A, Class D, 144A, SONIA + 2.400% (Cap N/A, Floor 0.000%) | 6.157 (c) | 01/23/36 | GBP | 7000 | 9208571 |
| &nbsp;&nbsp; ALA Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-OANA, Class A, 144A, 1 Month SOFR + 1.743% (Cap N/A, Floor 1.743%) | 5.416 (c) | 06/15/40 |  | 7860 | 7879650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-OANA, Class C, 144A, 1 Month SOFR + 2.092% (Cap N/A, Floor 2.092%) | 5.765 (c) | 06/15/40 |  | 6500 | 6516250 |
| &nbsp;&nbsp; ARES Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-AZURE, Class E, 144A, 1 Month SOFR + 3.250% (Cap N/A, Floor 3.250%) | 6.900 (c) | 03/15/38 |  | 5000 | 4999998 |
| &nbsp;&nbsp; ARES Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-IND03, Class C, 144A, 1 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 5.773 (c) | 04/15/42 |  | 3640 | 3640000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-IND03, Class D, 144A, 1 Month SOFR + 2.550% (Cap N/A, Floor 2.550%) | 6.223 (c) | 04/15/42 |  | 8050 | 8050000 |
| &nbsp;&nbsp; BANK, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BN38, Class A1 | 1.274 | 12/15/64 |  | 146 | 144465 |
| &nbsp;&nbsp; BANK5, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-05YR03, Class XD, IO, 144A | 3.315 (cc) | 09/15/56 |  | 9000 | 630089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-05YR04, Class XD, IO, 144A | 3.605 (cc) | 12/15/56 |  | 4500 | 346618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-05YR8, Class XD, IO, 144A | 2.775 (cc) | 08/15/57 |  | 13643 | 1056413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-05YR15, Class XD, 144A | 2.513 (cc) | 07/15/58 |  | 16932 | 1599383 |
| &nbsp;&nbsp; Barclays Commercial Mortgage Securities Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-ETC, Class B, 144A | 3.189 | 08/14/36 |  | 100 | 98316 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued)** |  |  |  |  |
| &nbsp;&nbsp; Barclays Commercial Mortgage Securities Trust, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-ETC, Class C, 144A | 3.391% | 08/14/36 | 100 | $97672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-ETC, Class E, 144A | 3.609 (cc) | 08/14/36 | 250 | 240979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-CHRS, Class B, 144A | 4.267 (cc) | 08/05/38 | 1000 | 952722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-CHRS, Class C, 144A | 4.267 (cc) | 08/05/38 | 1000 | 936262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-CHRS, Class D, 144A | 4.267 (cc) | 08/05/38 | 990 | 892544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-05C25, Class XD, IO, 144A | 3.139 (cc) | 03/15/57 | 14404 | 1113274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-05C31, Class XD, IO, 144A | 2.339 (cc) | 12/15/57 | 26275 | 2010918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C24, Class XB, IO | 1.332 (cc) | 02/15/57 | 5200 | 435626 |
| &nbsp;&nbsp; Benchmark Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-V06, Class XD, IO | 3.260 (cc) | 03/15/57 | 8634 | 721502 |
| &nbsp;&nbsp; BFLD Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-WRHS, Class E, 144A, 1 Month SOFR + 3.689% (Cap N/A, Floor 3.689%) | 7.361 (c) | 07/15/39 | 5219 | 5212470 |
| &nbsp;&nbsp; BLP Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-IND, Class D, 144A, 1 Month SOFR + 2.250% (Cap N/A, Floor 2.250%) | 5.923 (c) | 03/15/42 | 10252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10213706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-IND02, Class D, 144A, 1 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.323 (c) | 12/15/42 | 9935 | 9950523 |
| &nbsp;&nbsp; BMO Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-05C02, Class XD, IO, 144A | 2.244 (cc) | 11/15/56 | 9500 | 495715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-05C03, Class XD, IO, 144A | 2.859 (cc) | 02/15/57 | 12604 | 894477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-05C04, Class XD, IO, 144A | 2.768 (cc) | 05/15/57 | 5500 | 383417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-05C05, Class XD, IO, 144A | 2.464 (cc) | 02/15/57 | 18900 | 1312475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-05C08, Class XD, IO, 144A | 2.067 (cc) | 12/15/57 | 9929 | 674786 |
| &nbsp;&nbsp; BPR Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-PARK, Class C, 144A | 5.771 (cc) | 11/05/39 | 1630 | 1667667 |
| &nbsp;&nbsp; BPR Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-BRK02, Class C, 144A | 8.335 (cc) | 10/05/38 | 2000 | 2037468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-PMDW, Class C, 144A | 5.850 (cc) | 11/05/41 | 5950 | 6004765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-PMDW, Class XIO, IO, 144A | 0.208 (cc) | 11/05/41 | 149625 | 877266 |
| &nbsp;&nbsp; BRES Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-ATCAP, Class C, 144A, 1 Month SOFR + 2.143% (Cap N/A, Floor 2.143%) | 5.815 (c) | 11/15/42 | 13625 | 13560200 |
| &nbsp;&nbsp; BSTN Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01C, Class A, 144A | 5.011 (cc) | 06/15/44 | 8000 | 8135842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01C, Class B, 144A | 5.371 (cc) | 06/15/44 | 3850 | 3919940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01C, Class C, 144A | 5.821 (cc) | 06/15/44 | 2775 | 2845461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01C, Class D, 144A | 6.269 (cc) | 06/15/44 | 2875 | 2931734 |
| &nbsp;&nbsp; BX Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ACNT, Class C, 144A, 1 Month SOFR + 1.614% (Cap N/A, Floor 1.500%) | 5.287 (c) | 11/15/38 | 1730 | 1729094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-AHP, Class E, 144A, 1 Month SOFR + 3.040% (Cap N/A, Floor 3.040%) | 6.713 (c) | 01/17/39 | 12299 | 12268203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AIR02, Class A, 144A, 1 Month SOFR + 1.492% (Cap N/A, Floor 1.492%) | 5.165 (c) | 10/15/41 | 2878 | 2880238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AIR02, Class B, 144A, 1 Month SOFR + 1.792% (Cap N/A, Floor 1.792%) | 5.465 (c) | 10/15/41 | 2973 | 2976246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AIR02, Class C, 144A, 1 Month SOFR + 2.241% (Cap N/A, Floor 2.241%) | 5.914 (c) | 10/15/41 | 1247 | 1248103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AIRC, Class A, 144A, 1 Month SOFR + 1.691% (Cap N/A, Floor 1.691%) | 5.364 (c) | 08/15/41 | 3556 | 3559063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AIRC, Class D, 144A, 1 Month SOFR + 3.089% (Cap N/A, Floor 3.089%) | 6.762 (c) | 08/15/41 | 4388 | 4388291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MDHS, Class C, 144A, 1 Month SOFR + 2.041% (Cap N/A, Floor 2.041%) | 5.713 (c) | 05/15/41 | 1400 | 1399125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-PURE, Class C, 144A, CAONREPO + 3.050% (Cap N/A, Floor 3.050%) | 5.328 (c) | 11/15/41 CAD | 1918 | 1381951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-BCAT, Class D, 144A, 1 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.323 (c) | 08/15/42 | 8768 | 8784771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-BCAT, Class E, 144A, 1 Month SOFR + 3.500% (Cap N/A, Floor 3.500%) | 7.173 (c) | 08/15/42 | 10877 | 10903724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-COPT, Class C, 144A, 1 Month SOFR + 2.500% (Cap N/A, Floor 2.500%) | 6.173 (c) | 08/15/42 | 9100 | 9108531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-COPT, Class D, 144A, 1 Month SOFR + 3.250% (Cap N/A, Floor 3.250%) | 6.923 (c) | 08/15/42 | 5750 | 5757188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-JDI, Class D, 144A, 1 Month SOFR + 2.400% (Cap N/A, Floor 2.400%) | 6.073 (c) | 11/15/42 | 7869 | 7866985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-JDI, Class E, 144A, 1 Month SOFR + 3.400% (Cap N/A, Floor 3.400%) | 7.073 (c) | 11/15/42 | 9203 | 9200372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SPOT, Class D, 144A, 1 Month SOFR + 2.492% (Cap N/A, Floor 2.492%) | 6.164 (c) | 04/15/40 | 8568 | 8557058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SPOT, Class E, 144A, 1 Month SOFR + 3.690% (Cap N/A, Floor 3.690%) | 7.363 (c) | 04/15/40 | 9066 | 9055088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-CSMO, Class A, 144A, 1 Month SOFR + 1.400% (Cap N/A, Floor 1.400%) | 5.073 (c) | 02/15/43 | 10000 | 9999952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-XL06, Class E, 144A, 1 Month SOFR + 3.000% (Cap N/A, Floor 3.000%) | 6.673 (c) | 03/15/43 | 9000 | 8943914 |
| &nbsp;&nbsp; BX Commercial Mortgage Trust (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-PURE, Class B, 144A, CAONREPO + 2.500% (Cap N/A, Floor 2.500%) | 4.778 (c) | 11/15/41 CAD | 1918 | 1381949 |
| &nbsp;&nbsp; BX Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-OC11, Class D, 144A | 3.944 (cc) | 12/09/41 | 5936 | 5611535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-OC11, Class E, 144A | 3.944 (cc) | 12/09/41 | 9700 | 8964466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-LBA06, Class E, 144A, 1 Month SOFR + 2.700% (Cap N/A, Floor 2.700%) | 6.373 (c) | 01/15/39 | 5250 | 5246719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-VAMF, Class E, 144A, 1 Month SOFR + 2.700% (Cap N/A, Floor 2.700%) | 6.373 (c) | 01/15/39 | 3272 | 3267831 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 9

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; BX Trust, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-ARIA, Class A, 144A | 5.031 %(cc) | 12/13/42 |  | 10000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10052652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DIME, Class E, 144A, 1 Month SOFR + 3.000% (Cap N/A, Floor 3.000%) | 6.673 (c) | 02/15/35 |  | 10000 | 9912500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LUNR, Class C, 144A, 1 Month SOFR + 2.000% (Cap N/A, Floor 2.000%) | 5.673 (c) | 06/15/40 |  | 2646 | 2644430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LUNR, Class D, 144A, 1 Month SOFR + 2.500% (Cap N/A, Floor 2.500%) | 6.173 (c) | 06/15/40 |  | 1090 | 1088883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-ROIC, Class D, 144A, 1 Month SOFR + 1.993% (Cap N/A, Floor 1.993%) | 5.665 (c) | 03/15/30 |  | 4880 | 4852628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-ROIC, Class E, 144A, 1 Month SOFR + 2.941% (Cap N/A, Floor 2.941%) | 6.614 (c) | 03/15/30 |  | 7027 | 7000960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-TAIL, Class E, 144A, 1 Month SOFR + 3.300% (Cap N/A, Floor 3.300%) | 6.973 (c) | 06/15/35 |  | 9430 | 9429829 |
| &nbsp;&nbsp; Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-277P, Class X, IO, 144A | 0.661 (cc) | 08/10/44 |  | 16500 | 364978 |
| &nbsp;&nbsp; Credit Suisse Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-USA, Class A1, 144A | 3.304 | 09/15/37 |  | 2679 | 2453329 |
| &nbsp;&nbsp; DBC Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DBC, Class C, 144A, 1 Month SOFR + 2.050% (Cap N/A, Floor 2.050%) | 5.723 (c) | 11/15/42 |  | 9650 | 9613831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DBC, Class D, 144A, 1 Month SOFR + 2.600% (Cap N/A, Floor 2.600%) | 6.273 (c) | 11/15/42 |  | 2000 | 1992504 |
| &nbsp;&nbsp; DBMS DAC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class D, 144A, SONIA + 2.650% (Cap N/A, Floor 0.000%) | 6.403 (c) | 02/18/36 | GBP | 9250 | 12293253 |
| &nbsp;&nbsp; Durst Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-151, Class C, 144A | 5.436 (cc) | 08/10/42 |  | 2745 | 2764068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-151, Class D, 144A | 6.338 (cc) | 08/10/42 |  | 4075 | 4163175 |
| &nbsp;&nbsp; ELP Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-ELP, Class E, 144A | 6.020 (cc) | 11/13/42 |  | 11662 | 11506978 |
| &nbsp;&nbsp; FHLMC Multifamily Structured Pass-Through Certificates, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K058, Class X1, IO | 0.892 (cc) | 08/25/26 |  | 3271 | 3609 |
| &nbsp;&nbsp; FREMF Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K735, Class X2A, IO, 144A | 0.100 | 05/25/26 |  | 60145 | 1034 |
| &nbsp;&nbsp; GS Mortgage Securities Corp. Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RVR, Class B, 144A | 5.169 (cc) | 08/10/41 |  | 8000 | 8034459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-800D, Class A, 144A, 1 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.330 (c) | 11/25/41 |  | 3590 | 3586215 |
| &nbsp;&nbsp; Highways PLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-01X, Class ASONIA + 1.350% (Cap N/A, Floor 0.000%) | 5.095 (c) | 12/18/31 | GBP | 5000 | 6610188 |
| &nbsp;&nbsp; Hudson Yards Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SPRL, Class D, 144A | 6.340 (cc) | 01/13/40 |  | 5400 | 5540944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SPRL, Class E, 144A | 6.678 (cc) | 01/13/40 |  | 1070 | 1085216 |
| &nbsp;&nbsp; ILPT Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LPF02, Class B, 144A | 5.537 (cc) | 07/13/42 |  | 3250 | 3264483 |
| &nbsp;&nbsp; IP Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-IP, Class D, 144A | 6.315 (cc) | 06/10/42 |  | 2830 | 2851294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-IP, Class E, 144A | 6.846 (cc) | 06/10/42 |  | 2160 | 2179825 |
| &nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C33, Class XB, IO | 0.530 (cc) | 12/15/48 |  | 1081 | 8768 |
| &nbsp;&nbsp; Last Mile Logistics Pan Euro Finance DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 01A, Class D, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.899 (c) | 08/17/33 | EUR | 97 | 111863 |
| &nbsp;&nbsp; LBTY Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-225L, Class D, 144A | 5.708 (cc) | 02/10/43 |  | 3000 | 2937610 |
| &nbsp;&nbsp; MHC Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MHC, Class F, 144A, 1 Month SOFR + 2.715% (Cap N/A, Floor 2.601%) | 6.388 (c) | 04/15/38 |  | 1366 | 1364747 |
| &nbsp;&nbsp; MLTI Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-SF75, Class A, 144A, 1 Month SOFR + 1.400% (Cap N/A, Floor 1.400%) | 5.073 (c) | 03/15/31 |  | 10000 | 9950000 |
| &nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C21, Class XB, IO, 144A | 0.097 (cc) | 03/15/48 |  | 6496 | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-05C1, Class XD, IO, 144A | 2.638 (cc) | 03/15/58 |  | 14216 | 1295646 |
| &nbsp;&nbsp; MTN Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-LPFL, Class A, 144A, 1 Month SOFR + 1.397% (Cap N/A, Floor 1.397%) | 5.077 (c) | 03/15/39 |  | 7250 | 7245469 |
| &nbsp;&nbsp; New York City Housing Development Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-08SPR, Class A | 5.458 | 12/15/43 |  | 4800 | 4884741 |
| &nbsp;&nbsp; NRTH Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PARK, Class A, 144A, 1 Month SOFR + 1.393% (Cap N/A, Floor 1.393%) | 5.066 (c) | 10/15/40 |  | 4900 | 4895409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PARK, Class B, 144A, 1 Month SOFR + 1.643% (Cap N/A, Floor 1.643%) | 5.315 (c) | 10/15/40 |  | 6500 | 6487813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PARK, Class C, 144A, 1 Month SOFR + 2.192% (Cap N/A, Floor 2.192%) | 5.865 (c) | 10/15/40 |  | 9200 | 9176990 |
| &nbsp;&nbsp; NYC Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03BP, Class D, 144A, 1 Month SOFR + 2.441% (Cap N/A, Floor 2.441%) | 6.114 (c) | 02/15/42 |  | 5000 | 4993750 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **COMMERCIAL MORTGAGE-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; NYC Commercial Mortgage Trust, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03BP, Class E, 144A, 1 Month SOFR + 3.540% (Cap N/A, Floor 3.540%) | 7.212%(c) | 02/15/42 |  | 10000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10026620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-300P, Class D, 144A | 6.161(cc) | 07/13/42 |  | 800 | 796462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-01PARK, Class D, 144A, 1 Month SOFR + 2.300% (Cap N/A, Floor 2.300%) | 5.978(c) | 02/15/43 |  | 3900 | 3885373 |
| &nbsp;&nbsp; ROCK Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CNTR, Class C, 144A | 6.471 | 11/13/41 |  | 5945 | 6126098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CNTR, Class E, 144A | 8.819 | 11/13/41 |  | 17500 | 18206944 |
| &nbsp;&nbsp; Salus European Loan Conduit DAC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 33A, Class A, 144A, SONIA + 2.169% (Cap N/A, Floor 1.500%) | 5.914(c) | 01/23/32 | GBP | 1961 | 2610395 |
| &nbsp;&nbsp; SCG Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SNIP, Class C, 144A, 1 Month SOFR + 1.900% (Cap N/A, Floor 1.900%) | 5.573(c) | 09/15/42 |  | 4500 | 4512593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SNIP, Class D, 144A, 1 Month SOFR + 2.600% (Cap N/A, Floor 2.600%) | 6.273(c) | 09/15/42 |  | 3000 | 3003750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SNIP, Class E, 144A, 1 Month SOFR + 3.400% (Cap N/A, Floor 3.400%) | 7.073(c) | 09/15/42 |  | 7500 | 7500000 |
| &nbsp;&nbsp; Sirius Logistics UK DAC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-01A, Class D, 144A, SONIA + 2.550% (Cap N/A, Floor 0.000%) | 6.297(c) | 11/17/35 | GBP | 8000 | 10592178 |
| &nbsp;&nbsp; SLG Office Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-OVA, Class E, 144A | 2.851 | 07/15/41 |  | 4000 | 3433690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-OMA, Class E, 144A | 6.956(cc) | 04/15/41 |  | 13500 | 13555708 |
| &nbsp;&nbsp; Taurus DAC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-UK03A, Class D, 144A, SONIA + 2.800% (Cap N/A, Floor 0.000%) | 6.544(c) | 07/20/35 | GBP | 1650 | 2188845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-UK03A, Class E, 144A, SONIA + 3.800% (Cap N/A, Floor 0.000%) | 7.544(c) | 07/20/35 | GBP | 1500 | 1983704 |
| &nbsp;&nbsp; TCO Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-DPM, Class C, 144A, 1 Month SOFR + 1.992% (Cap N/A, Floor 1.992%) | 5.664(c) | 12/15/39 |  | 4920 | 4913850 |
| &nbsp;&nbsp; UK Logistics DAC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01A, Class B, 144A, SONIA + 2.550% (Cap N/A, Floor 2.550%) | 6.295(c) | 05/17/34 | GBP | 1128 | 1506132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-02A, Class D, 144A, SONIA + 2.900% (Cap N/A, Floor 0.000%) | 6.645(c) | 08/17/35 | GBP | 4966 | 6566481 |
| &nbsp;&nbsp; VNDO Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-350P, Class E, 144A | 3.903(cc) | 01/10/35 |  | 8287 | 8272518 |
| &nbsp;&nbsp; WCORE Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CORE, Class C, 144A, 1 Month SOFR + 2.241% (Cap N/A, Floor 2.241%) | 5.914(c) | 11/15/41 |  | 4000 | 4001250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CORE, Class D, 144A, 1 Month SOFR + 2.940% (Cap N/A, Floor 2.940%) | 6.613(c) | 11/15/41 |  | 8000 | 8002500 |
| &nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FCMT, Class C, 144A, 1 Month SOFR + 2.514% (Cap N/A, Floor 2.400%) | 6.187(c) | 05/15/31 |  | 1100 | 1099098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FCMT, Class D, 144A, 1 Month SOFR + 3.614% (Cap N/A, Floor 3.500%) | 7.287(c) | 05/15/31 |  | 690 | 689400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-FCMT, Class E, 144A, 1 Month SOFR + 4.614% (Cap N/A, Floor 4.500%) | 8.287(c) | 05/15/31 |  | 1000 | 1000057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01CHI, Class D, 144A | 6.261(cc) | 07/15/35 |  | 3200 | 3219418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01CHI, Class E, 144A | 7.069(cc) | 07/15/35 |  | 3500 | 3526160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-05C1, Class XD, IO, 144A | 2.634(cc) | 07/15/57 |  | 13169 | 990167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-GRP, Class B, 144A, 1 Month SOFR + 2.291% (Cap N/A, Floor 2.291%) | 5.963(c) | 10/15/41 |  | 2850 | 2837169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-GRP, Class C, 144A, 1 Month SOFR + 2.940% (Cap N/A, Floor 2.940%) | 6.612(c) | 10/15/41 |  | 4650 | 4615132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B33RP, Class A, 144A, 1 Month SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.023(c) | 08/15/42 |  | 9250 | 9238426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B33RP, Class C, 144A, 1 Month SOFR + 2.000% (Cap N/A, Floor 2.000%) | 5.673(c) | 08/15/42 |  | 4500 | 4497185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B33RP, Class D, 144A, 1 Month SOFR + 2.500% (Cap N/A, Floor 2.500%) | 6.173(c) | 08/15/42 |  | 10800 | 10793244 |
| &nbsp;&nbsp; WHARF Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DC, Class D, 144A | 6.171(cc) | 07/15/40 |  | 5690 | 5767926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DC, Class E, 144A | 7.209(cc) | 07/15/40 |  | 6000 | 6004549 |
| &nbsp;&nbsp; **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** | &nbsp;&nbsp; **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** | &nbsp;&nbsp; **TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $623,333,483) |  |  |  |  | 620495019 |
| &nbsp;&nbsp; **CORPORATE BOND 0.7%** | &nbsp;&nbsp; **CORPORATE BOND 0.7%** | &nbsp;&nbsp; **CORPORATE BOND 0.7%** |  |  |  |
| &nbsp;&nbsp; **Internet** | &nbsp;&nbsp; **Internet** | &nbsp;&nbsp; **Internet** |  |  |  |
| &nbsp;&nbsp; Beignet Investor LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.581 | 05/30/49 |  | 18500 | 19052657 |
| &nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS 1.0%** | &nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS 1.0%** | &nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS 1.0%** |  |  |  |
| &nbsp;&nbsp; **Auto Parts & Equipment 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Tenneco, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term B Loan, 1 Month SOFR + 5.000% | 8.756(c) | 11/17/28 |  | 350 | 340631 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 11

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS (Continued)** | &nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS (Continued)** | &nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS (Continued)** |  |  |  |
| &nbsp;&nbsp; **Diversified Financial Services 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; HPS Specialty Loan Fund VI GP (Luxembourg), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 3 Month SOFR + 2.000%^ | 5.668%(c) | 09/30/34 |  | 184 | $184238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 3 Month SOFR + 3.200%^ | 6.868(c) | 09/30/34 |  | 425 | 424541 |
| &nbsp;&nbsp; HPS Specialty Loan Fund VI IM (Luxembourg), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 3 Month SOFR + 2.000%^ | 5.668(c) | 09/30/34 |  | 276 | 276357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 3 Month SOFR + 3.200%^ | 6.868(c) | 09/30/34 |  | 637 | 636811 |
|  |  |  |  |  | <br> 1521947 |
| &nbsp;&nbsp; **Electric 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Heritage Power LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 1 Month SOFR + 5.500%^ | 9.172(c) | 07/20/28 |  | 14 | 13693 |
| &nbsp;&nbsp; **Entertainment 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Allen Media LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term B Loan, 3 Month SOFR + 5.500% | 9.350(c) | 02/10/27 |  | 236 | 146828 |
| &nbsp;&nbsp; **Internet 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Diamond Sports Net LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Exit Term Loan | 0.000 | 01/02/28 |  | 23 | 3872 |
| &nbsp;&nbsp; **Media 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp; Project Cannes - BAYVIEW ITL NPL, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 3 Month EURIBOR + 5.500%^ | 4.708(c) | 12/07/29 | EUR | 13200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15257220 |
| &nbsp;&nbsp; **Real Estate 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Domain Greenbough Partner 2 LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan | 14.570 | 01/23/32 |  | 7358 | 7357719 |
| &nbsp;&nbsp; **Software 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Meta CW GPU, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan | 0.000 | 03/31/32 |  | 1036 | 1036228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan | 0.000 | 03/31/32 |  | 2 | 1626 |
|  |  |  |  |  | <br> 1037854 |
| &nbsp;&nbsp; **Telecommunications 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; CloudHQ VA B1, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan, 1 Month SOFR + 2.250%^ | 5.950(c) | 01/29/30 |  | 1190 | 1189601 |
| &nbsp;&nbsp; **TOTAL FLOATING RATE AND OTHER LOANS** | &nbsp;&nbsp; **TOTAL FLOATING RATE AND OTHER LOANS** | &nbsp;&nbsp; **TOTAL FLOATING RATE AND OTHER LOANS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $26,907,885) |  |  |  |  | 26869365 |
| &nbsp;&nbsp; **RESIDENTIAL MORTGAGE-BACKED SECURITIES 20.9%** | &nbsp;&nbsp; **RESIDENTIAL MORTGAGE-BACKED SECURITIES 20.9%** | &nbsp;&nbsp; **RESIDENTIAL MORTGAGE-BACKED SECURITIES 20.9%** |  |  |  |
| &nbsp;&nbsp; Anchor Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL01, Class A1, 144A | 5.718(cc) | 05/25/40 |  | 3300 | 3296155 |
| &nbsp;&nbsp; Angel Oak Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03, Class A1, 144A | 5.420(cc) | 03/25/70 |  | 8033 | 8047659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-09, Class A1, 144A | 5.141(cc) | 08/25/70 |  | 5171 | 5162714 |
| &nbsp;&nbsp; Bayview Financing Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01F, Class A, 144A, 30 Day Average SOFR + 5.000% (Cap N/A, Floor 4.000%) | 8.654(c) | 07/01/26 |  | 378 | 379342 |
| &nbsp;&nbsp; Bellemeade Re Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01, Class M1B, 144A, 30 Day Average SOFR + 3.200% (Cap N/A, Floor 3.150%) | 6.862(c) | 08/25/34 |  | 3752 | 3770351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01, Class M2, 144A, 30 Day Average SOFR + 3.900% (Cap N/A, Floor 3.900%) | 7.562(c) | 10/25/35 |  | 900 | 915952 |
| &nbsp;&nbsp; BRAVO Residential Funding Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM02, Class A1, 144A | 5.678(cc) | 11/25/64 |  | 3136 | 3152129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM05, Class A3, 144A | 5.800(cc) | 02/25/65 |  | 1015 | 1016888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM06, Class A1, 144A | 5.333(cc) | 06/25/65 |  | 15807 | 15826843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM09, Class A3, 144A | 5.551(cc) | 09/25/65 |  | 4506 | 4499418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM01, Class A1, 144A | 4.830(cc) | 12/25/65 |  | 8763 | 8697773 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **RESIDENTIAL MORTGAGE-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; BRAVO Residential Funding Trust, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM03, Class A1, 144A | 4.985%(cc) | 11/25/65 |  | 4254 | $4230955 |
| &nbsp;&nbsp; CIM Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R01, Class A1, 144A | 4.750(cc) | 06/25/64 |  | 2845 | 2796996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-I01, Class A1, 144A | 5.655(cc) | 10/25/69 |  | 5547 | 5581482 |
| &nbsp;&nbsp; Citigroup Mortgage Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RP02, Class A2, 144A | 4.228(cc) | 02/25/63 |  | 593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RP02, Class B1, 144A | 4.228(cc) | 02/25/63 |  | 180 | 139385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RP02, Class B2, 144A | 4.223(cc) | 02/25/63 |  | 65 | 51898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RP02, Class B3, PO, 144A | 11.043(s) | 02/25/63 |  | 165 | 27045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RP02, Class B4, PO, 144A | 14.167(s) | 02/25/63 |  | 298 | 31882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RP02, Class M1, 144A | 4.228(cc) | 02/25/63 |  | 399 | 330217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RP02, Class M2, 144A | 4.228(cc) | 02/25/63 |  | 304 | 237143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RP02, Class SA, 144A | 0.000(cc) | 02/25/63 |  | 8 | 7413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RP02, Class X, IO, 144A | 0.000(cc) | 02/25/63 |  | 8531 | 853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class A1, 144A | 4.018(cc) | 01/25/64 |  | 4838 | 4485778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class A2, 144A | 4.018(cc) | 01/25/64 |  | 232 | 173180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class B1, 144A | 4.018(cc) | 01/25/64 |  | 93 | 58624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class B2, 144A | 4.018(cc) | 01/25/64 |  | 59 | 33501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class B3, 144A | 4.018(cc) | 01/25/64 |  | 74 | 37112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class B4, 144A | 4.179(cc) | 01/25/64 |  | 69 | 29211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class M1, 144A | 4.018(cc) | 01/25/64 |  | 198 | 141172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class M2, 144A | 4.018(cc) | 01/25/64 |  | 124 | 85281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class SA, 144A | 0.000(cc) | 01/25/64 |  | 6 | 5691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RP01, Class X, IO, 144A | 0.000(cc) | 01/25/64 |  | 5687 | 569 |
| &nbsp;&nbsp; Clavel Residential 4 DAC (Spain), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-01A, Class B, 144A, 3 Month EURIBOR + 1.500% (Cap N/A, Floor 0.000%) | 3.538(c) | 10/28/66 | EUR | 5000 | 5677067 |
| &nbsp;&nbsp; COLT Mortgage Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03, Class A1, 144A | 5.352(cc) | 03/25/70 |  | 5966 | 5973747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-05, Class M1, 144A | 6.296(cc) | 05/25/70 |  | 2100 | 2110378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-08, Class M1, 144A | 6.206(cc) | 08/25/70 |  | 3012 | 3022714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV02, Class A1, 144A | 5.601(cc) | 02/25/70 |  | 5959 | 5987181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-02, Class A1F, 144A, 30 Day Average SOFR + 1.200% (Cap 6.500%, Floor 0.000%) | 4.862(c) | 03/25/71 |  | 6794 | 6793926 |
| &nbsp;&nbsp; Connecticut Avenue Securities Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R01, Class 1B2, 144A, 30 Day Average SOFR + 6.000% (Cap N/A, Floor 0.000%) | 9.662(c) | 10/25/41 |  | 4000 | 4081820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R01, Class 1B2, 144A, 30 Day Average SOFR + 6.000% (Cap N/A, Floor 0.000%) | 9.662(c) | 12/25/41 |  | 6365 | 6529517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R05, Class 1M2, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | 6.762(c) | 06/25/43 |  | 600 | 622082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R05, Class 2M2, 144A, 30 Day Average SOFR + 1.700% (Cap N/A, Floor 0.000%) | 5.362(c) | 07/25/44 |  | 1675 | 1677299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R06, Class 1B1, 144A, 30 Day Average SOFR + 2.050% (Cap N/A, Floor 0.000%) | 5.712(c) | 09/25/44 |  | 2300 | 2305635 |
| &nbsp;&nbsp; Cross Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H02, Class A1, 144A | 5.356(cc) | 03/25/70 |  | 6341 | 6346903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H04, Class A2, 144A | 5.778(cc) | 06/25/70 |  | 4548 | 4561922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H07, Class A1, 144A | 4.934(cc) | 09/25/70 |  | 11691 | 11623312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H09, Class A1, 144A | 5.036(cc) | 11/25/70 |  | 3399 | 3384408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H10, Class A1, 144A | 4.968(cc) | 01/25/71 |  | 3881 | 3857253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-H10, Class A2, 144A | 5.252(cc) | 01/25/71 |  | 2558 | 2542113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM01, Class A3, 144A | 5.157(cc) | 02/25/61 |  | 2067 | 2046418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM02, Class A3, 144A | 5.239(cc) | 03/25/61 |  | 5363 | 5317461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM03, Class A3, 144A | 5.480(cc) | 03/25/71 |  | 3600 | 3578590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM04, Class A1, 144A | 5.485(cc) | 04/25/71 |  | 4300 | 4299934 |
| &nbsp;&nbsp; EFMT, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class A1, 144A | 5.626(cc) | 03/25/70 |  | 6830 | 6857736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-INV02, Class A3, 144A | 5.087(cc) | 02/25/71 |  | 3260 | 3218219 |
| &nbsp;&nbsp; Fannie Mae Connecticut Avenue Securities, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R03, Class 1B2, 144A, 30 Day Average SOFR + 5.500% (Cap N/A, Floor 0.000%) | 9.162(c) | 12/25/41 |  | 7137 | 7307180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R06, Class 1B2, 144A, 30 Day Average SOFR + 10.600% (Cap N/A, Floor 0.000%) | 14.262(c) | 05/25/42 |  | 12300 | 13421052 |
| &nbsp;&nbsp; FHLMC Structured Agency Credit Risk REMIC Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-DNA06, Class B1, 144A, 30 Day Average SOFR + 3.000% (Cap N/A, Floor 0.000%) | 6.662(c) | 12/25/50 |  | 750 | 794571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-HQA03, Class M1B, 144A, 30 Day Average SOFR + 3.550% (Cap N/A, Floor 0.000%) | 7.212(c) | 08/25/42 |  | 8000 | 8225314 |
| &nbsp;&nbsp; GCAT Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM01, Class A3, 144A | 5.192(cc) | 12/25/70 |  | 4937 | 4885317 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 13

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **RESIDENTIAL MORTGAGE-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Corp. Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM06, Class A1, 144A | 5.021%(cc) | 02/25/66 |  | 3980 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3964802 |
| &nbsp;&nbsp; GS Mortgage-Backed Securities Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-DSC01, Class A1, 144A | 4.725(cc) | 05/25/66 |  | 3953 | 3902804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-HE01, Class M1, 144A, 30 Day Average SOFR + 1.900% (Cap N/A, Floor 0.000%) | 5.559(c) | 03/25/66 |  | 3000 | 3000000 |
| &nbsp;&nbsp; HOMES Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM02, Class A1, 144A | 5.488(cc) | 01/25/71 |  | 3300 | 3299986 |
| &nbsp;&nbsp; INCREF LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL01, Class A, 144A, 1 Month SOFR + 1.728% (Cap N/A, Floor 1.728%) | 5.405(c) | 10/19/42 |  | 9000 | 8993829 |
| &nbsp;&nbsp; JPMorgan Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM02, Class A2, 144A | 5.770(cc) | 09/25/65 |  | 5869 | 5887162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-VIS02, Class A1, 144A | 5.385(cc) | 12/25/55 |  | 7646 | 7658726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-VIS02, Class A3, 144A | 5.739(cc) | 12/25/55 |  | 4779 | 4782334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-ACES01, Class M1, 144A | 5.609(cc) | 04/25/66 |  | 5000 | 4950212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQX01, Class A1, 144A | 5.500(cc) | 07/25/66 |  | 2500 | 2500143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-VIS01, Class A3, 144A | 5.243(cc) | 06/25/66 |  | 2482 | 2461718 |
| &nbsp;&nbsp; Kinbane DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RPL2A, Class C, 144A, 1 Month EURIBOR + 2.650% (Cap N/A, Floor 0.000%) | 4.569(c) | 01/24/63 | EUR | 1900 | 2192764 |
| &nbsp;&nbsp; Legacy Mortgage Asset Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PR01, Class A1, 144A | 6.000(cc) | 01/25/61 |  | 18987 | 18892695 |
| &nbsp;&nbsp; LHOME Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL04, Class A1, 144A | 5.921(cc) | 07/25/39 |  | 7733 | 7751134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL05, Class A1, 144A | 5.323(cc) | 09/25/39 |  | 4000 | 4000066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL01, Class A1, 144A | 5.652(cc) | 01/25/40 |  | 7400 | 7424771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL02, Class A1, 144A | 5.612(cc) | 04/25/40 |  | 2000 | 2006317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL03, Class M1, 144A | 6.891(cc) | 08/25/40 |  | 1500 | 1505056 |
| &nbsp;&nbsp; Lincoln Senior Participation Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01, Class A1X, 144A, 1 Month SOFR + 2.200%^ | 5.873 | 06/27/27 |  | 20000 | 20000000 |
| &nbsp;&nbsp; Lugo Funding DAC (Spain), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01A, Class C, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 0.000%) | 4.041(c) | 05/26/66 | EUR | 3535 | 3995921 |
| &nbsp;&nbsp; MFA Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM01, Class A1, 144A | 5.441(cc) | 03/25/70 |  | 3935 | 3952148 |
| &nbsp;&nbsp; Morgan Stanley Residential Mortgage Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM02, Class A1, 144A | 5.627(cc) | 01/25/70 |  | 8558 | 8594260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM07, Class A1, 144A | 4.984(cc) | 09/25/70 |  | 11239 | 11175496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM08, Class A1, 144A | 4.963(cc) | 09/25/70 |  | 6567 | 6553724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM01, Class A2, 144A | 5.032(cc) | 12/25/70 |  | 1265 | 1253785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM02, Class A3, 144A | 5.140(cc) | 01/26/71 |  | 7440 | 7374153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM03, Class A3, 144A | 5.565(cc) | 03/25/71 |  | 4527 | 4514020 |
| &nbsp;&nbsp; New Residential Mortgage Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM03, Class A1, 144A | 4.833(cc) | 02/25/66 |  | 4957 | 4910297 |
| &nbsp;&nbsp; NLT Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class A1, 144A | 5.506(cc) | 02/25/70 |  | 12049 | 12087041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class A2, 144A | 5.708(cc) | 02/25/70 |  | 1351 | 1353955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class A3, 144A | 5.860(cc) | 02/25/70 |  | 2318 | 2321920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class AIOS, 144A | 0.399(cc) | 02/25/70 |  | 18498 | 123407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class B1, 144A | 6.594(cc) | 02/25/70 |  | 750 | 738445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class B2, 144A | 6.594(cc) | 02/25/70 |  | 590 | 570030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class B3, 144A | 6.594(cc) | 02/25/70 |  | 370 | 340560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class M1, 144A | 6.314(cc) | 02/25/70 |  | 1070 | 1074131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class XS, 144A^ | 0.901(cc) | 02/25/70 |  | 18498 | 288562 |
| &nbsp;&nbsp; NYMT Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV02, Class A1, 144A | 5.000(cc) | 10/25/60 |  | 7358 | 7320115 |
| &nbsp;&nbsp; OBX Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NQM12, Class M1, 144A | 5.933(cc) | 07/25/64 |  | 4000 | 3990186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM02, Class A1, 144A | 5.597(cc) | 11/25/64 |  | 2823 | 2836212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM03, Class A1, 144A | 5.648(cc) | 12/01/64 |  | 5759 | 5790279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM04, Class A1, 144A | 5.400(cc) | 02/25/55 |  | 5923 | 5935602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM10, Class M1, 144A | 6.042(cc) | 05/25/65 |  | 3800 | 3798873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM11, Class M1, 144A | 6.149(cc) | 05/25/65 |  | 5000 | 5009894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM04, Class A1, 144A | 5.173(cc) | 02/25/66 |  | 5400 | 5387788 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Interest<br>Rate** | **Maturity<br>Date** | **Principal Amount <br>(000)#** | **Principal Amount <br>(000)#** | **Value** |
| &nbsp;&nbsp; **RESIDENTIAL MORTGAGE-BACKED SECURITIES (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; PMT Credit Risk Transfer Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01R, Class A, 144A, 30 Day Average SOFR + 3.500% (Cap N/A, Floor 0.000%) | 7.162%(c) | 05/25/33 |  | 4596 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4621515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-02R, Class A, 144A, 30 Day Average SOFR + 3.350% (Cap N/A, Floor 0.000%) | 7.010(c) | 03/29/27 |  | 5210 | 5233932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-03R, Class A, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | 6.760(c) | 09/27/28 |  | 1940 | 1957824 |
| &nbsp;&nbsp; PRKCM Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-AFC01, Class A1, 144A | 4.677(cc) | 02/25/61 |  | 1692 | 1673854 |
| &nbsp;&nbsp; PRPM Fundido DAC (Spain), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-02A, Class C, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 0.000%) | 4.039(c) | 01/29/75 | EUR | 1529 | 1731588 |
| &nbsp;&nbsp; PRPM LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-06, Class A1, 144A | 5.699(cc) | 11/25/29 |  | 2196 | 2197413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RCF06, Class A3, 144A | 4.000(cc) | 10/25/64 |  | 700 | 676941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-02, Class A1, 144A | 6.469(cc) | 05/25/30 |  | 4500 | 4489714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-04, Class A1, 144A | 6.179(cc) | 06/25/30 |  | 6454 | 6442820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RCF01, Class A2, 144A | 4.500(cc) | 02/25/55 |  | 1400 | 1370487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RCF01, Class A3, 144A | 4.500(cc) | 02/25/55 |  | 1766 | 1724191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RCF03, Class A1, 144A | 5.250(cc) | 07/25/55 |  | 6097 | 6085314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RCF03, Class A3, 144A | 5.250(cc) | 07/25/55 |  | 876 | 868783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL01, Class A1, 144A | 4.000(cc) | 03/25/55 |  | 9622 | 9408097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL01, Class A2, 144A | 4.000(cc) | 03/25/55 |  | 1987 | 1915987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL01, Class A3, 144A | 4.000(cc) | 03/25/55 |  | 1172 | 1127020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL01, Class M1A, 144A | 4.000(cc) | 03/25/55 |  | 1144 | 1094084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL01, Class M1B, 144A | 4.000(cc) | 03/25/55 |  | 402 | 381839 |
| &nbsp;&nbsp; PRPM Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM01, Class A1, 144A | 5.802(cc) | 11/25/69 |  | 5449 | 5477427 |
| &nbsp;&nbsp; Radnor Re Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-01, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 2.900%) | 6.562(c) | 09/25/34 |  | 1688 | 1695811 |
| &nbsp;&nbsp; RCO Mortgage LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-03, Class A1, 144A | 6.435(cc) | 05/25/30 |  | 5244 | 5249294 |
| &nbsp;&nbsp; Roc Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL01, Class A1, 144A | 5.625(cc) | 02/25/40 |  | 8800 | 8821466 |
| &nbsp;&nbsp; Santander Mortgage Asset Receivable Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM01, Class A1, 144A | 5.545(cc) | 01/25/65 |  | 7212 | 7233660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM05, Class A1, 144A | 5.067(cc) | 08/25/65 |  | 5919 | 5899092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-NQM02, Class A1, 144A | 4.704(cc) | 01/25/66 |  | 3927 | 3883422 |
| &nbsp;&nbsp; SG Residential Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-01, Class A1, 144A | 4.782(cc) | 01/25/66 |  | 5270 | 5220081 |
| &nbsp;&nbsp; VCAT LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL03, Class A1, 144A | 5.889(cc) | 02/25/55 |  | 3661 | 3665395 |
| &nbsp;&nbsp; Verus Securitization Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-02, Class A1, 144A | 5.307(cc) | 03/25/70 |  | 6404 | 6410063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-05, Class M1, 144A | 6.014(cc) | 06/25/70 |  | 4500 | 4496583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-06, Class A1, 144A | 5.417(cc) | 07/25/70 |  | 5281 | 5298594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-INV01, Class A1, 144A | 5.548(cc) | 02/25/70 |  | 7070 | 7102088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-03, Class A3, 144A | 5.333(cc) | 03/25/71 |  | 4500 | 4476080 |
| &nbsp;&nbsp; **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES** | &nbsp;&nbsp; **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES** | &nbsp;&nbsp; **TOTAL RESIDENTIAL MORTGAGE-BACKED SECURITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $565,230,599) |  |  |  |  | 565201127 |
| &nbsp;&nbsp; **U.S. TREASURY OBLIGATIONS 0.1%** | &nbsp;&nbsp; **U.S. TREASURY OBLIGATIONS 0.1%** | &nbsp;&nbsp; **U.S. TREASURY OBLIGATIONS 0.1%** |  |  |  |
| &nbsp;&nbsp; U.S. Treasury Notes | 3.500 | 09/30/26 |  | 250 | 249658 |
| &nbsp;&nbsp; U.S. Treasury Notes | 4.125 | 01/31/27 |  | 550 | 551676 |
| &nbsp;&nbsp; U.S. Treasury Notes(k) | 4.250 | 11/30/26 |  | 1700 | 1705512 |
| &nbsp;&nbsp; U.S. Treasury Notes | 4.250 | 12/31/26 |  | 540 | 541919 |
| &nbsp;&nbsp; **TOTAL U.S. TREASURY OBLIGATIONS** | &nbsp;&nbsp; **TOTAL U.S. TREASURY OBLIGATIONS** | &nbsp;&nbsp; **TOTAL U.S. TREASURY OBLIGATIONS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $3,039,909) |  |  |  |  | 3048765 |
|  |  |  |  | **Shares** |  |
| &nbsp;&nbsp; **COMMON STOCKS 0.0%** | &nbsp;&nbsp; **COMMON STOCKS 0.0%** | &nbsp;&nbsp; **COMMON STOCKS 0.0%** |  |  |  |
| &nbsp;&nbsp; **Interactive Media & Services 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Diamond Sports Group LLC\*(x) |  |  |  | 3163 | 595 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 15

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Oil, Gas & Consumable Fuels 0.0%** |  |  |
| &nbsp;&nbsp; <br> Heritage Power LLC, Exit Financing - Participation on Account of Backstop Shares & Exit Financing - Reserve Shares\* | 81 | $5781 |
| &nbsp;&nbsp; Heritage Power LLC, Exit Financing Participation Shares & Backstop Shares\* | 1852 | 132187 |
| &nbsp;&nbsp; Heritage Power LLC, Litigation Trust Interests\*^ | 2132 | 1066 |
|  |  | <br> 139034 |
| &nbsp;&nbsp; **TOTAL COMMON STOCKS** | &nbsp;&nbsp; **TOTAL COMMON STOCKS** | &nbsp;&nbsp; **TOTAL COMMON STOCKS** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $28,534) |  | 139629 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Units |  |
| &nbsp;&nbsp; **WARRANTS\* 0.0%** | &nbsp;&nbsp; **WARRANTS\* 0.0%** | &nbsp;&nbsp; **WARRANTS\* 0.0%** |
| &nbsp;&nbsp; **Interactive Media & Services** |  |  |
| &nbsp;&nbsp; <br> Diamond Sports Group LLC, expiring 06/30/26(x) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $0) | 5916 |  |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS** | &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS** | &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $2,654,647,220) |  | 2670678763 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares |  |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENT 1.2%** | &nbsp;&nbsp; **SHORT-TERM INVESTMENT 1.2%** | &nbsp;&nbsp; **SHORT-TERM INVESTMENT 1.2%** |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUND** | &nbsp;&nbsp; **AFFILIATED MUTUAL FUND** | &nbsp;&nbsp; **AFFILIATED MUTUAL FUND** |
| &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 3.781%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $32,044,302)(wa) | 32044302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32044302 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 99.9%** | &nbsp;&nbsp; **TOTAL INVESTMENTS 99.9%** | &nbsp;&nbsp; **TOTAL INVESTMENTS 99.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $2,686,691,522) |  | 2702723065 |
| &nbsp;&nbsp; Other assets in excess of liabilities(z) 0.1% |  | 2130237 |
| &nbsp;&nbsp; **NET ASSETS 100.0%** | &nbsp;&nbsp; **NET ASSETS 100.0%** | $2704853302 |

---

Below is a list of the abbreviation(s) used in the semiannual report:

CAD—Canadian Dollar

EUR—Euro

GBP—British Pound

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

CITI—Citibank, N.A.

CLO—Collateralized Loan Obligation

CME—Chicago Mercantile Exchange

DAC—Designated Activity Company

EURIBOR—Euro Interbank Offered Rate

FHLMC—Federal Home Loan Mortgage Corporation

FREMF—Freddie Mac Mortgage Trust

GSI—Goldman Sachs International

IO—Interest Only (Principal amount represents notional)

JPM—JPMorgan Chase Bank N.A.

JPS—J.P. Morgan Securities LLC

LP—Limited Partnership

M—Monthly payment frequency for swaps

MSI—Morgan Stanley & Co. International PLC

MTN—Medium Term Note

N/A—Not Applicable

OTC—Over-the-counter

PO—Principal Only

Q—Quarterly payment frequency for swaps

REMIC—Real Estate Mortgage Investment Conduit

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

SG—Societe Generale

SOFR—Secured Overnight Financing Rate

SONIA—Sterling Overnight Index Average

UAG—UBS AG

\* Non-income producing security.

# Principal or notional amount is shown in U.S. dollars unless otherwise stated. 

---

| | |
|:---|:---|
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $38,398,919 and 1.4% of net assets.  |

---

(c) Variable rate instrument. The interest rate shown reflects the rate in effect at March 31, 2026.

(cc) Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2026. 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.

(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.

(p) Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end.

(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.

(wa) Represents investments in Funds affiliated with the Manager.

(x) The following represents restricted securities that are 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.

(x) Restricted Securities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer** | **Acquisition<br>Date** | **Original<br>Cost** | **Market<br>Value** | **Percentage<br>of**<br>**Net Assets** |
|  20 Times Square Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-20TS, Class H, 144A, 3.100%(cc), 05/15/35 | 06/28/19 | $94181 | $83500 | 0.0% |
|  20 Times Square Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-20TS, Class G, 144A, 3.100%(cc), 05/15/35 | 06/28/19-08/26/20 | 184522 | 172000 | 0.0 |
|  20 Times Square Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 2018-20TS, Class F, 144A, 3.100%(cc), 05/15/35 | 08/26/20-04/07/22 | 483088 | 462800 | 0.0 |
|  Diamond Sports Group LLC\* | 01/02/25 | 8280 | 595 | 0.0 |
|  Diamond Sports Group LLC, expiring 06/30/26 | 01/02/25 |  |  | 0.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | $770071 | $718895 | 0.0% |

---

(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:

#### Unfunded loan commitments outstanding at March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Borrower** | **Principal<br>Amount<br>(000)#** | **Current**<br>**Value** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** |
|  CloudHQ VA B1, Delayed Draw Term Loan, —%(p), Maturity Date 01/29/30 (cost $1,517,647)^ | 1518 | $1517647 | $– | $— |
|  CloudHQ VA B1, Delayed Draw Term Loan, —%(p), Maturity Date 01/29/30 (cost $390,292)^ | 390 | 390292 | – |  |
|  Domain Greenbough Partner 2 LLC, Delayed Draw Term Loan, 0.000%, Maturity Date 01/23/32 (cost $5,642,281) | 5642 | 5642281 | – |  |
|  HPS Speciality Loan Fund VI GP, Delayed Draw Term Loan, 0.000%, Maturity Date 09/30/34 (cost $506,655)^ | 507 | 506655 | – |  |
|  HPS Speciality Loan Fund VI GP, Delayed Draw Term Loan, 0.000%, Maturity Date 09/30/34 (cost $1,225,103)^ | 1225 | 1225103 | – |  |
|  HPS Speciality Loan Fund VI IM, Delayed Draw Term Loan, 0.000%, Maturity Date 09/30/34 (cost $759,983)^ | 760 | 759983 | – |  |
|  HPS Speciality Loan Fund VI IM, Delayed Draw Term Loan, 0.000%, Maturity Date 09/30/34 (cost $1,837,654)^ | 1838 | 1837654 | – |  |
|  Meta CW GPU, Delayed Draw Term Loan, 0.000%, Maturity Date 03/31/32 (cost $5,962,146) | 5962 | 5962146 | – |  |
|  |  | $17841761 | $– | $— |

---

#### Futures contracts outstanding at March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number<br>of<br>Contracts** | **Type** | **Expiration<br>Date** | **Current Notional<br>Amount** | **Value /<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Long Position:** | **Long Position:** | **Long Position:** |  |  |
| 921 | 3 Month CME SOFR | Jun. 2026 | $221788313 | $(93787) |
|  **Short Positions:** | **Short Positions:** | **Short Positions:** |  |  |
| 1748 | 2 Year U.S. Treasury Notes | Jun. 2026 | 362614405 | 2587114 |
| 4 | 5 Year Euro-Bobl | Jun. 2026 | 533679 | 11474 |
| 1140 | 5 Year U.S. Treasury Notes | Jun. 2026 | 123324847 | 927987 |
| 5 | 10 Year Euro-Bund | Jun. 2026 | 724660 | 20581 |
| 205 | 10 Year U.S. Treasury Notes | Jun. 2026 | 22764610 | 402466 |
| 48 | 10 Year U.S. Ultra Treasury Notes | Jun. 2026 | 5448750 | 97592 |
| 127 | 20 Year U.S. Treasury Bonds | Jun. 2026 | 14462125 | 402066 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 17

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

#### Futures contracts outstanding at March 31, 2026 (continued):

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number<br>of<br>Contracts** | **Type** | **Expiration<br>Date** | **Current<br>Notional<br>Amount** | **Value /<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Short Positions (cont'd):** | **Short Positions (cont'd):** | **Short Positions (cont'd):** |  |  |
| 7 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2026 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815938 | $24716 |
| 1 | Euro Schatz Index | Jun. 2026 | 122231 | 1375 |
|  |  |  |  | 4475371 |
|  |  |  |  | $4381584 |

---

#### Forward foreign currency exchange contracts outstanding at March 31, 2026:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase<br>Contracts** | **Counterparty** | **Notional** <br>**Amount**<br>**(000)** | **Notional** <br>**Amount**<br>**(000)** | **Value at**<br> **Settlement** <br>**Date** | **Current** <br>**Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |  |  |  |  |  |
|  British Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 04/02/26 | JPM | GBP | 649 | $862055 | $858741 | $— | $(3314) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 04/02/26 | UAG | GBP | 34544 | 46298744 | 45721649 |  | (577095) |
|  Canadian Dollar, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 04/02/26 | JPM | CAD | 3622 | 2625939 | 2603894 |  | (22045) |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 04/02/26 | JPM | EUR | 398601 | 459869698 | 460765629 | 895931 |  |
|  |  |  |  | $509656436 | $509949913 | 895931 | (602454) |
| **Sale Contracts** | **Counterparty** | **Notional<br>Amount<br>(000)** | **Notional<br>Amount<br>(000)** | **Value at<br>Settlement<br>Date** | **Current Value** | **Unrealized**<br>**Appreciation** | **Unrealized**<br>**Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |  |  |  |  |  |
|  British Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 04/02/26 | CITI | GBP | 35192 | $47565065 | $46580390 | $984675 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/12/26 | JPM | GBP | 5006 | 6675765 | 6624848 | 50917 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/12/26 | UAG | GBP | 34544 | 46295289 | 45718337 | 576952 |  |
|  Canadian Dollar, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 04/02/26 | MSI | CAD | 3622 | 2652528 | 2603894 | 48634 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/12/26 | JPM | CAD | 3622 | 2630430 | 2608441 | 21989 |  |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 04/02/26 | JPM | EUR | 393813 | 464240704 | 455231087 | 9009617 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 04/02/26 | MSI | EUR | 4788 | 5517492 | 5534541 |  | (17049) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/12/26 | JPM | EUR | 398601 | 460754593 | 461658059 |  | (903466) |
|  |  |  |  | $1036331866 | $1026559597 | 10692784 | (920515) |
|  |  |  |  |  |  | $11588715 | $(1522969) |

---

#### Credit default swap agreement outstanding at March 31, 2026:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination** <br>**Date** | **Fixed**<br> **Rate** | **Notional <br>Amount<br>(000)#(3)** | **Implied** <br>**Credit**<br>**Spread at<br>March 31,<br>2026(4)** | **Fair**<br> **Value** | **Upfront Premiums <br>Paid (Received)** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** | **Counterparty** |
|  **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** |
|  GS_24-PCA | 08/02/27 | 1.650%(M) | 15000 | \* | $20696 | $(3947) | $24643 | GSI |

---

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

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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 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 March 31, 2026:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional**<br> **Amount**<br> **(000)#** | **Fund** <br>**Receives** | **Notional** <br>**Amount**<br>**(000)#** | **Notional** <br>**Amount**<br>**(000)#** | **Fund <br>Pays** | **Counterparty** | **Termination <br>Date** | **Fair <br>Value** | **Upfront**<br>**Premiums**<br>**Paid<br> (Received)** | **Unrealized<br>Appreciation<br> (Depreciation)** |
|  **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** |
|  | 1 Day SOFR + 2.72bps (Q)/ |  |  | 3 Month<br>EURIBOR +<br>2.50bps(Q)/ |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 15212 | 6.40%% | EUR | 13200 | 4.58%% | JPM | 11/07/29 | $(33287) | $— | $(33287) |

---

#### Interest rate swap agreements outstanding at March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br>Amount<br>(000)#** | **Termination<br>Date** | **Fixed <br>Rate** | **Floating<br>Rate** | **Value at<br>Trade Date** | **Value at<br>March 31,<br>2026** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** |  |  |
| 5215 | 05/13/27 | 4.497 %(A) | 1 Day SOFR(1)(A)/ 3.680% | $(1662) | $(54679) | $(53017) |
| 183325 | 11/11/28 | 4.350 %(A) | 1 Day SOFR(1)(A)/ 3.680% | (5285640) | (3869747) | 1415893 |
| 3245 | 05/13/29 | 4.253 %(A) | 1 Day SOFR(2)(A)/ 3.680% | 2464 | 63389 | 60925 |
| 92400 | 05/11/30 | 4.150 %(A) | 1 Day SOFR(1)(A)/ 3.680% | (1503868) | (2011291) | (507423) |
|  |  |  |  | $(6788706) | $(5872328) | $916378 |

---

(1) The Fund pays the fixed rate and receives the floating rate.

(2) The Fund pays the floating rate and receives the fixed rate.

#### Balances Reported in the Statement of Assets and Liabilities for OTC Swap Agreements:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Premiums Paid** | **Premiums Received** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** |
|  OTC Swap Agreements | $— | $(3947) | $24643 | $(33287) |

---

#### Summary of Collateral for Centrally Cleared/Exchange-traded Derivatives:
Cash and securities segregated as collateral, including pending settlement for closed positions, to cover requirements for centrally cleared/exchange-traded derivatives are listed by broker as follows:

---

| | | |
|:---|:---|:---|
| **Broker** | **Cash and/or Foreign Currency** | **Securities Market Value** |
|  JPS | $8237000 | $1378455 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 19

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

#### Fair Value Measurements:
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below.

Level 1—unadjusted quoted prices generally in active markets for identical securities.

Level 2—quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates and other observable inputs.

Level 3—unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.

The following is a summary of the inputs used as of March 31, 2026 in valuing such portfolio securities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |  |
|  **Investments in Securities** |  |  |  |  |
|  **Assets** |  |  |  |  |
|  **Long-Term Investments** |  |  |  |  |
|  Asset-Backed Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Automobiles | $— | $26083218 | $— |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Collateralized Loan Obligations |  | 965827513 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Consumer Loans |  | 80807925 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Credit Cards |  | 10715747 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Equipment |  | 28685883 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Home Equity Loans |  | 202398184 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other |  | 96740452 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Residential Mortgage-Backed Securities |  | 21090268 | 106134 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Small Business Loan |  | 3091106 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Student Loan |  | 325771 |  |  |
|  Commercial Mortgage-Backed Securities |  | 620495019 |  |  |
|  Corporate Bond |  | 19052657 |  |  |
|  Floating Rate and Other Loans |  | 8886904 | 17982461 |  |
|  Residential Mortgage-Backed Securities |  | 544912565 | 20288562 |  |
|  U.S. Treasury Obligations |  | 3048765 |  |  |
|  Common Stocks |  | 138563 | 1066 |  |
|  Warrants |  |  |  |  |
|  **Short-Term Investment** |  |  |  |  |
|  Affiliated Mutual Fund | 32044302 |  |  |  |
|  **Total** | $**32044302** | $**2632300540** | $**38378223** |  |
|  **Other Financial Instruments\*** |  |  |  |  |
|  **Assets** |  |  |  |  |
|  Unfunded Loan Commitments | $— | $— | $— | \*\* |
|  Futures Contracts | 4475371 |  |  |  |
|  OTC Forward Foreign Currency Exchange Contracts |  | 11588715 |  |  |
|  OTC Credit Default Swap Agreement |  |  | 20696 |  |
|  Centrally Cleared Interest Rate Swap Agreements |  | 1476818 |  |  |
|  **Total** | $**4475371** | $**13065533** | $**20696** |  |
|  **Liabilities** |  |  |  |  |
|  Futures Contracts | $(93787) | $— | $— |  |
|  OTC Forward Foreign Currency Exchange Contracts |  | (1522969) |  |  |
|  OTC Currency Swap Agreement |  | (33287) |  |  |
|  Centrally Cleared Interest Rate Swap Agreements |  | (560440) |  |  |
|  **Total** | $**(93787)** | $**(2116696)** | $**—** |  |

---

\* Other financial instruments are derivative instruments, with the exception of unfunded loan commitments , and are not reflected in the Schedule of Investments. Futures, forward foreign currency exchange contracts, centrally cleared swap contracts and unfunded loan commitments are recorded at net unrealized appreciation (depreciation), and OTC swap contracts are recorded at fair value. 

\*\* Includes Level 3 investments with an aggregate value of $0. 

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The following is a reconciliation of assets in which unobservable inputs (Level 3) were used in determining fair value:

---

| | | | |
|:---|:---|:---|:---|
| | **Asset-Backed Securities<br>Residential Mortgage-<br>Backed Securities** | **Floating Rate<br>and<br>Other Loans** | **Residential<br>Mortgage-Backed<br>Securities** |
|  **Balance as of 09/30/25** | $132524 | $13576 | $435181 |
|  Realized gain (loss) | 841 |  | 805842 |
|  Change in unrealized appreciation (depreciation) | 4443 | 47447 | (158368) |
|  Purchase/Exchange/Issuances |  | 17921438 | 20018626 |
|  Sales/Paydowns | (31674) |  | (843801) |
|  Accrued discount/premium |  |  | 31082 |
|  Transfer into Level 3\* |  |  |  |
|  Transfer out of Level 3\* |  |  |  |
|  **Balance as of 03/31/26** | $106134 | $17982461 | $20288562 |
|  Change in unrealized appreciation (depreciation) relating to securities still held at reporting period end | $4443 | $47447 | $(158368) |
|  | **Common Stocks** | **Unfunded Loan<br>Commitments** | **OTC Credit Default<br>Swap Agreements** |
|  **Balance as of 09/30/25** | $1066 | $— | $20059 |
|  Realized gain (loss) |  |  | 4473 |
|  Change in unrealized appreciation (depreciation) |  |  | (5316) |
|  Purchase/Exchange/Issuances |  |  |  |
|  Sales/Paydowns |  |  |  |
|  Accrued discount/premium |  |  | 1480 |
|  Transfer into Level 3\* |  |  |  |
|  Transfer out of Level 3\* |  |  |  |
|  **Balance as of 03/31/26** | $1066 | $— | $20696 |
|  Change in unrealized appreciation (depreciation) relating to securities still held at reporting period end | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $— | $(5316) |

---

\* It is the Fund's policy to recognize transfers in and transfers out at the securities' fair values as of the beginning of period. Securities transferred between Level 2 and Level 3 are due to changes in the method utilized in valuing the investments. Transfers from Level 2 to Level 3 are typically a result of a change from the use of methods used by independent pricing services (Level 2) to the use of a single broker quote or valuation technique which utilizes significant unobservable inputs due to an absence of current or reliable market quotations (Level 3). Transfers from Level 3 to Level 2 are a result of the availability of current and reliable market data provided by independent pricing services or other valuation techniques which utilize observable inputs. In accordance with the requirements of ASC 820, the amounts of transfers into and out of Level 3, if material, are disclosed in the Notes to the Schedule of Investments of the Fund. 

Level 3 securities as presented in the table above are being fair valued using pricing methodologies approved by the Board, which contain unobservable inputs as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Level 3**<br> **Securities\*\*** | **Fair Value**<br>**as of**<br> **March 31, 2026** | **Valuation**<br> **Methodology** | **Unobservable**<br> **Inputs** | **Inputs**<br> **(Range)** | **Directional<br>Impact on<br>Fair Value<br>from Input**<br> **Increase** |
|  Asset-Backed Securities Residential Mortgage-Backed Securities | $1 | Market/Recovery Value | Recovery Rate | 100.00% | Increase |
|  Asset-Backed Securities Residential Mortgage-Backed Securities | 106133 | Market/Yield and Spread | Adjusted Spread | 400 bps | Decrease |
|  Floating Rate and Other Loans | 17968768 | Market/Transaction-Based | Discount/Premium Factor | 0.00% | NA |
|  Unfunded Loan Commitments |  | Market/Transaction-Based | Discount/Premium Factor | 0.00% | NA |
|  Common Stocks | 1066 | Market/Recovery Value | Recovery Rate | 0.00% | Increase |
|  | $18075968 |  |  |  |  |

---

\*\* The table does not include Level 3 securities and/or derivatives that are valued by independent pricing vendors or brokers. As of March 31, 2026, the aggregate value of these securities and/or derivatives was $20,322,951. The unobservable inputs for these investments were not developed by the Fund and are not readily available (e.g. single broker quotes). 

See Notes to Financial Statements.

PGIM Securitized Credit Fund 21

------

Schedule of Investments (unaudited) (continued)

as of March 31, 2026

#### Industry Classification:
The industry classification of investments and other assets in excess of liabilities shown as a percentage of net assets as of March 31, 2026 were as follows:

---

| | |
|:---|:---|
|  Collateralized Loan Obligations | 35.7% |
|  Commercial Mortgage-Backed Securities | 22.9 |
|  Residential Mortgage-Backed Securities | 21.7 |
|  Home Equity Loans | 7.5 |
|  Other | 3.6 |
|  Consumer Loans | 3 |
|  Affiliated Mutual Fund | 1.2 |
|  Equipment | 1 |
|  Automobiles | 1 |
|  Internet | 0.7 |
|  Media | 0.6 |
|  Credit Cards | 0.4 |
|  Real Estate | 0.3 |
|  Small Business Loan | 0.1 |
|  U.S. Treasury Obligations | 0.1 |
|  Diversified Financial Services | 0.1 |
|  Telecommunications | 0.0 \* |

---

---

| | |
|:---|:---|
|  Software | 0.0 |
|  Auto Parts & Equipment | 0.0 \* |
|  Student Loan | 0.0 \* |
|  Entertainment | 0.0 \* |
|  Oil, Gas & Consumable Fuels | 0.0 \* |
|  Electric | 0.0 \* |
|  Interactive Media & Services | 0.0 \* |
|  | 99.9 |
|  Other assets in excess of liabilities | 0.1 |
|  | 100.0% |

---

\* Less than 0.05% 

#### Effects of Derivative Instruments on the Financial Statements and Primary Underlying Risk Exposure:
The Fund invested in derivative instruments during the reporting period. The primary types of risk associated with these derivative instruments are credit risk, foreign exchange risk and interest rate risk. See the Notes to Financial Statements for additional detail regarding these derivative instruments and their risks. The effect of such derivative instruments on the Fund's financial position and financial performance as reflected in the Statement of Assets and Liabilities and Statement of Operations is presented in the summary below.

Fair values of derivative instruments as of March 31, 2026 as presented in the Statement of Assets and Liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| <br>**Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value**  | **Statement of**<br> **Assets and**<br> **Liabilities Location** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Value**  | **Statement of**<br> **Assets and**<br> **Liabilities Location** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Value**  |
|  Credit contracts |  | $— | Premiums received for OTC swap agreements | $3947 |
|  Credit contracts | Unrealized appreciation on OTC swap agreements | 24643 |  |  |
|  Foreign exchange contracts | Unrealized appreciation on OTC forward foreign currency exchange contracts | 11588715 | Unrealized depreciation on OTC forward foreign currency exchange contracts | 1522969 |
|  Interest rate contracts | Due from/to broker-variation<br> margin futures | 4475371 \* | Due from/to broker-variation<br> margin futures | 93787 \* |
|  Interest rate contracts | Due from/to broker-variation<br> margin swaps | 1476818 \* | Due from/to broker-variation<br> margin swaps | 560440 \* |
|  Interest rate contracts |  |  | Unrealized depreciation on OTC swap agreements | 33287 |
|  |  | $17565547 |  | $2214430 |

---

\* Includes cumulative appreciation (depreciation) as reported in the schedule of open futures and centrally cleared swap contracts. Only unsettled variation margin receivable (payable) is reported within the Statement of Assets and Liabilities.

The effects of derivative instruments on the Statement of Operations for the six months ended March 31, 2026 are as follows:

#### Amount of Realized Gain (Loss) on Derivatives Recognized in Income

---

| | | | |
|:---|:---|:---|:---|
| **Derivatives not accounted for as hedging**<br> **instruments, carried at fair value** | **Futures** | **Forward**<br>**Currency**<br>**Exchange**<br>**Contracts** | **Swaps** |
|  Credit contracts | $— | $— | $125902 |
|  Foreign exchange contracts |  | 190418 |  |
|  Interest rate contracts | (833871) |  | 197625 |
|  **Total** | $(833871) | $190418 | $323527 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

#### Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income

---

| | | | |
|:---|:---|:---|:---|
| **Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value** | **Futures** | **Forward<br>Currency<br>Exchange<br>Contracts** | **Swaps** |
|  Credit contracts | $— | $— | $(836) |
|  Foreign exchange contracts |  | 12085448 |  |
|  Interest rate contracts | 4923355 |  | 2374483 |
|  **Total** | $4923355 | $12085448 | $2373647 |

---

For the six months ended March 31, 2026, the Fund's average volume of derivative activities is as follows:

---

| | |
|:---|:---|
| **Derivative Contract Type** | **Average Volume of Derivative Activities\*** |
|  Futures Contracts - Long Positions (1) | $255310448 |
|  Futures Contracts - Short Positions (1) | 525267062 |
|  Forward Foreign Currency Exchange Contracts - Purchased (2) | 305965701 |
|  Forward Foreign Currency Exchange Contracts - Sold (2) | 774559955 |
|  Credit Default Swap Agreements - Sell Protection (1) | 14999658 |
|  Currency Swap Agreements (1) | 5070548 |
|  Interest Rate Swap Agreements (1) | 223076667 |

---

\* Average volume is based on average quarter end balances for the six months ended March 31, 2026.

(1) Notional Amount in USD.

(2) Value at Settlement Date.

#### Financial Instruments/Transactions—Summary of Offsetting and Netting Arrangements:
The Fund invested in OTC derivatives during the reporting period that are either offset in accordance with current requirements or are subject to enforceable master netting arrangements or similar agreements that permit offsetting. The information about offsetting and related netting arrangements for OTC derivatives where the legal right to set-off exists is presented in the summary below.

#### Offsetting of OTC derivative assets and liabilities:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amounts of <br>Recognized**<br>**Assets(1)** | **Gross Amounts of <br>Recognized**<br>**Liabilities(1)** | **Net Amounts of<br>Recognized<br> Assets/(Liabilities)** | **Collateral<br> Pledged/(Received)(2)** | **Net Amount** |
|  CITI | $984675 | $— | $984675 | $(984675) | $— |
|  GSI | 24643 | (3947) | 20696 |  | 20696 |
|  JPM | 9978454 | (962112) | 9016342 | (9016342) |  |
|  MSI | 48634 | (17049) | 31585 |  | 31585 |
|  UAG | 576952 | (577095) | (143) |  | (143) |
|  | $11613358 | $(1560203) | $10053155 | $(10001017) | $52138 |

---

(1) Includes unrealized appreciation/(depreciation) on swaps and forwards, premiums paid/(received) on swap agreements and market value of purchased and written options, as represented on the Statement of Assets and Liabilities.

(2) Collateral amount disclosed by the Fund is limited to the market value of financial instruments/transactions and the Fund's OTC derivative exposure by counterparty.

See Notes to Financial Statements.

PGIM Securitized Credit Fund 23

------

Statement of Assets and Liabilities (unaudited)

as of March 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $2,654,647,220) | $2670678763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $32,044,302) | 32044302 |
| &nbsp;&nbsp; Cash | 1721 |
| &nbsp;&nbsp; Foreign currency, at value (cost $74,385) | 73306 |
| &nbsp;&nbsp; Cash segregated for counterparty - OTC | 1130000 |
| &nbsp;&nbsp; Dividends and interest receivable | 16214846 |
| &nbsp;&nbsp; Unrealized appreciation on OTC forward foreign currency exchange contracts | 11588715 |
| &nbsp;&nbsp; Receivable for investments sold | 10607986 |
| &nbsp;&nbsp; Deposit with broker for centrally cleared/exchange-traded derivatives | 8237000 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 5501137 |
| &nbsp;&nbsp; Unrealized appreciation on OTC swap agreements | 24643 |
| &nbsp;&nbsp; Prepaid expenses | 7219 |
| &nbsp;&nbsp; **Total Assets** | 2756109638 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Payable for investments purchased | 40116140 |
| &nbsp;&nbsp; Payable for Fund shares purchased | 7438816 |
| &nbsp;&nbsp; Unrealized depreciation on OTC forward foreign currency exchange contracts | 1522969 |
| &nbsp;&nbsp; Management fee payable | 1138001 |
| &nbsp;&nbsp; Due to broker—variation margin futures | 396081 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 361175 |
| &nbsp;&nbsp; Due to broker—variation margin swaps | 198016 |
| &nbsp;&nbsp; Distribution fee payable | 46311 |
| &nbsp;&nbsp; Unrealized depreciation on OTC swap agreements | 33287 |
| &nbsp;&nbsp; Premiums received for OTC swap agreements | 3947 |
| &nbsp;&nbsp; Dividends and Distributions payable | 1093 |
| &nbsp;&nbsp; Affiliated transfer agent fee payable | 500 |
| &nbsp;&nbsp; **Total Liabilities** | 51256336 |
| &nbsp;&nbsp; **Net Assets** | $2704853302 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares of beneficial interest, at par | $277208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 2695444373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 9131721 |
| &nbsp;&nbsp; **Net assets, March 31, 2026** | $2704853302 |

---

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp; Net asset value and redemption price per share,<br> ($78,451,601 ÷ 8,039,327 shares of beneficial interest issued and outstanding) | $9.76 |
| &nbsp;&nbsp; Maximum sales charge (3.25% of offering price) | 0.33 |
| &nbsp;&nbsp; Maximum offering price to public | $10.09 |
| &nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($35,304,437 ÷ 3,620,890 shares of beneficial interest issued and outstanding) | $9.75 |
| &nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($2,518,508,604 ÷ 258,105,294 shares of beneficial interest issued and outstanding) | $9.76 |
| &nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($72,588,660 ÷ 7,442,588 shares of beneficial interest issued and outstanding) | $9.75 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 25

------

Statement of Operations (unaudited)

Six Months Ended March 31, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** |  |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Interest income | $69270529 |
| &nbsp;&nbsp; Affiliated dividend income | 1704466 |
| &nbsp;&nbsp; **Total income** | 70974995 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 7549457 |
| &nbsp;&nbsp; Distribution fee(a) | 252970 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $1,553)(a) | 1421287 |
| &nbsp;&nbsp; Registration fees(a) | 135278 |
| &nbsp;&nbsp; Custodian and accounting fees | 63181 |
| &nbsp;&nbsp; Shareholders' reports | 49454 |
| &nbsp;&nbsp; Audit fee | 33159 |
| &nbsp;&nbsp; Professional fees | 24765 |
| &nbsp;&nbsp; Trustees' fees | 18392 |
| &nbsp;&nbsp; SEC registration fees | 580 |
| &nbsp;&nbsp; Miscellaneous | 29297 |
| &nbsp;&nbsp; **Total expenses** | 9577820 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (1144376) |
| &nbsp;&nbsp; **Net expenses** | 8433444 |
| &nbsp;&nbsp; Net investment income (loss) | 62541551 |
| &nbsp;&nbsp; **Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions** |  |
| &nbsp;&nbsp; Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment transactions (including affiliated of $64,951) | 1511380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures transactions | (833871) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward currency contract transactions | 190418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreement transactions | 323527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | 1729265 |
|  | 2920719 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (including affiliated of $(253324)) | (24326660) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | 4923355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward currency contracts | 12085448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreements | 2373647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 235896 |
|  | (4708314) |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | (1787595) |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $60753956 |

---

(a) Class specific expenses and waivers were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class Z** | **Class R6** |
|  Distribution fee | 80779 | 172191 |  |  |
|  Transfer agent's fees and expenses | 13682 | 8006 | 1399290 | 309 |
|  Registration fees | 13183 | 12620 | 95088 | 14387 |
|  Fee waiver and/or expense reimbursement | (15965) | (14841) | (1095200) | (18370) |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended<br>March 31, 2026** | **Year Ended<br> September 30, 2025** |
| &nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $62541551 | $89634745 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | 2920719 | (21022482) |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | (4708314) | 28967514 |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 60753956 | 97579777 |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp; Class A | (1525603) | (1704386) |
| &nbsp;&nbsp; Class C | (685602) | (791966) |
| &nbsp;&nbsp; Class Z | (59195127) | (88639249) |
| &nbsp;&nbsp; Class R6 | (1135989) | (284507) |
|  | (62542321) | (91420108) |
| &nbsp;&nbsp; **Fund share transactions (Net of share conversions)** |  |  |
| &nbsp;&nbsp; Net proceeds from shares sold | 833364055 | 2458565468 |
| &nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 62527739 | 91401032 |
| &nbsp;&nbsp; Cost of shares purchased | (607394719) | (751407808) |
| &nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | 288497075 | 1798558692 |
| &nbsp;&nbsp; Total increase (decrease) | 286708710 | 1804718361 |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 2418144592 | 613426231 |
| &nbsp;&nbsp; End of period | $2704853302 | $2418144592 |

---

See Notes to Financial Statements.

PGIM Securitized Credit Fund 27

------

Financial Highlights (unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class A Shares** | &nbsp;&nbsp;&nbsp;**Class A Shares** | &nbsp;&nbsp;&nbsp;**Class A Shares** | &nbsp;&nbsp;&nbsp;**Class A Shares** | &nbsp;&nbsp;&nbsp;**Class A Shares** | &nbsp;&nbsp;&nbsp;**Class A Shares** | &nbsp;&nbsp;&nbsp;**Class A Shares** |
|  | **Six Months<br>Ended<br>March 31,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2026** | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp;**Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Asset Value, Beginning of Period** | $9.76 | $9.72 | $9.47 | $9.34 | $9.88 | $9.45 |
| &nbsp;&nbsp;&nbsp;**Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 0.23 | 0.50 | 0.61 | 0.56 | 0.30 | 0.26 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | - <sup>(b)</sup> | 0.06 | 0.26 | 0.22 | (0.54) | 0.40 |
| &nbsp;&nbsp;&nbsp;Total from investment operations | 0.23 | 0.56 | 0.87 | 0.78 | (0.24) | 0.66 |
| &nbsp;&nbsp;&nbsp;**Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends from net investment income | (0.23) | (0.52) | (0.62) | (0.65) | (0.30) | (0.23) |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $9.76 | $9.76 | $9.72 | $9.47 | $9.34 | $9.88 |
| &nbsp;&nbsp;&nbsp;**Total Return<sup>(c)</sup>:** | 2.38% | 5.93% | 9.46% | 8.61% | (2.46)% | 7.10% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |
| &nbsp;&nbsp;&nbsp;Net assets, end of period (000) | $78452 | $51999 | $9369 | $661 | $135 | $39 |
| &nbsp;&nbsp;&nbsp;Average net assets (000) | $64801 | $32992 | $4228 | $1122 | $96 | $26 |
| &nbsp;&nbsp;&nbsp;Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses after waivers and/or expense reimbursement | 0.90 %<sup>(e)</sup> | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
| &nbsp;&nbsp;&nbsp;Expenses before waivers and/or expense reimbursement | 0.95 %<sup>(e)</sup> | 1.00% | 1.39% | 1.89% | 10.95% | 26.65% |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 4.72 %<sup>(e)</sup> | 5.07% | 6.26% | 6.03% | 3.09% | 2.70% |
| &nbsp;&nbsp;&nbsp;Portfolio turnover rate<sup>(f)</sup> | 37% | 36% | 46% | 47% | 37% | 58% |

---

(a) Calculated based on average shares outstanding during the period.

(b) Amount rounds to zero.

(c) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

(d) Does not include expenses of the underlying funds in which the Fund invests.

(e) Annualized.

(f) The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class C Shares** | &nbsp;&nbsp;&nbsp;**Class C Shares** | &nbsp;&nbsp;&nbsp;**Class C Shares** | &nbsp;&nbsp;&nbsp;**Class C Shares** | &nbsp;&nbsp;&nbsp;**Class C Shares** | &nbsp;&nbsp;&nbsp;**Class C Shares** | &nbsp;&nbsp;&nbsp;**Class C Shares** |
|  | **Six Months<br>Ended<br>March 31,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2026** | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp;**Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Asset Value, Beginning of Period** | $9.75 | $9.72 | $9.47 | $9.34 | $9.88 | $9.44 |
| &nbsp;&nbsp;&nbsp;**Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 0.19 | 0.42 | 0.54 | 0.49 | 0.23 | 0.19 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | - <sup>(b)</sup> | 0.06 | 0.26 | 0.21 | (0.54) | 0.41 |
| &nbsp;&nbsp;&nbsp;Total from investment operations | 0.19 | 0.48 | 0.80 | 0.70 | (0.31) | 0.60 |
| &nbsp;&nbsp;&nbsp;**Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends from net investment income | (0.19) | (0.45) | (0.55) | (0.57) | (0.23) | (0.16) |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $9.75 | $9.75 | $9.72 | $9.47 | $9.34 | $9.88 |
| &nbsp;&nbsp;&nbsp;**Total Return<sup>(c)</sup>:** | 2.00% | 5.03% | 8.65% | 7.79% | (3.21)% | 6.41% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |
| &nbsp;&nbsp;&nbsp;Net assets, end of period (000) | $35304 | $32052 | $3063 | $113 | $92 | $10 |
| &nbsp;&nbsp;&nbsp;Average net assets (000) | $34533 | $18122 | $1197 | $83 | $60 | $10 |
| &nbsp;&nbsp;&nbsp;Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses after waivers and/or expense reimbursement | 1.65 %<sup>(e)</sup> | 1.65% | 1.65% | 1.65% | 1.65% | 1.65% |
| &nbsp;&nbsp;&nbsp;Expenses before waivers and/or expense reimbursement | 1.74 %<sup>(e)</sup> | 1.82% | 3.24% | 10.01% | 11.95% | 64.82% |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 3.98 %<sup>(e)</sup> | 4.28% | 5.53% | 5.25% | 2.38% | 1.97% |
| &nbsp;&nbsp;&nbsp;Portfolio turnover rate<sup>(f)</sup> | 37% | 36% | 46% | 47% | 37% | 58% |

---

(a) Calculated based on average shares outstanding during the period.

(b) Amount rounds to zero.

(c) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

(d) Does not include expenses of the underlying funds in which the Fund invests.

(e) Annualized.

(f) The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

PGIM Securitized Credit Fund 29

------

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class Z Shares** | &nbsp;&nbsp;&nbsp;**Class Z Shares** | &nbsp;&nbsp;&nbsp;**Class Z Shares** | &nbsp;&nbsp;&nbsp;**Class Z Shares** | &nbsp;&nbsp;&nbsp;**Class Z Shares** | &nbsp;&nbsp;&nbsp;**Class Z Shares** | &nbsp;&nbsp;&nbsp;**Class Z Shares** |
|  | **Six Months<br>Ended<br>March 31,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2026** | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp;**Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Asset Value, Beginning of Period** | $9.76 | $9.72 | $9.47 | $9.34 | $9.88 | $9.45 |
| &nbsp;&nbsp;&nbsp;**Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 0.24 | 0.52 | 0.64 | 0.60 | 0.31 | 0.29 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | - <sup>(b)</sup> | 0.07 | 0.26 | 0.20 | (0.52) | 0.40 |
| &nbsp;&nbsp;&nbsp;Total from investment operations | 0.24 | 0.59 | 0.90 | 0.80 | (0.21) | 0.69 |
| &nbsp;&nbsp;&nbsp;**Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends from net investment income | (0.24) | (0.55) | (0.65) | (0.67) | (0.33) | (0.26) |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $9.76 | $9.76 | $9.72 | $9.47 | $9.34 | $9.88 |
| &nbsp;&nbsp;&nbsp;**Total Return<sup>(c)</sup>:** | 2.51% | 6.19% | 9.77% | 8.87% | (2.21)% | 7.37% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |
| &nbsp;&nbsp;&nbsp;Net assets, end of period (000) | $2518509 | $2314491 | $600943 | $135574 | $70190 | $32193 |
| &nbsp;&nbsp;&nbsp;Average net assets (000) | $2382585 | $1625137 | $300906 | $88825 | $61949 | $29735 |
| &nbsp;&nbsp;&nbsp;Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses after waivers and/or expense reimbursement | 0.65 %<sup>(e)</sup> | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
| &nbsp;&nbsp;&nbsp;Expenses before waivers and/or expense reimbursement | 0.74 %<sup>(e)</sup> | 0.77% | 0.83% | 0.99% | 1.07% | 1.40% |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 4.98 %<sup>(e)</sup> | 5.35% | 6.58% | 6.37% | 3.20% | 2.97% |
| &nbsp;&nbsp;&nbsp;Portfolio turnover rate<sup>(f)</sup> | 37% | 36% | 46% | 47% | 37% | 58% |

---

(a) Calculated based on average shares outstanding during the period.

(b) Amount rounds to zero.

(c) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

(d) Does not include expenses of the underlying funds in which the Fund invests.

(e) Annualized.

(f) The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class R6 Shares** | &nbsp;&nbsp;&nbsp;**Class R6 Shares** | &nbsp;&nbsp;&nbsp;**Class R6 Shares** | &nbsp;&nbsp;&nbsp;**Class R6 Shares** | &nbsp;&nbsp;&nbsp;**Class R6 Shares** | &nbsp;&nbsp;&nbsp;**Class R6 Shares** | &nbsp;&nbsp;&nbsp;**Class R6 Shares** |
|  | **Six Months<br>Ended<br>March 31,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2026** | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp;**Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Asset Value, Beginning of Period** | $9.76 | $9.72 | $9.47 | $9.34 | $9.88 | $9.45 |
| &nbsp;&nbsp;&nbsp;**Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 0.25 | 0.52 | 0.68 | 0.64 | 0.32 | 0.29 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.01) | 0.07 | 0.22 | 0.16 | (0.53) | 0.40 |
| &nbsp;&nbsp;&nbsp;Total from investment operations | 0.24 | 0.59 | 0.90 | 0.80 | (0.21) | 0.69 |
| &nbsp;&nbsp;&nbsp;**Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends from net investment income | (0.25) | (0.55) | (0.65) | (0.67) | (0.33) | (0.26) |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $9.75 | $9.76 | $9.72 | $9.47 | $9.34 | $9.88 |
| &nbsp;&nbsp;&nbsp;**Total Return<sup>(b)</sup>:** | 2.43% | 6.23% | 9.84% | 8.91% | (2.16)% | 7.42% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** | &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |
| &nbsp;&nbsp;&nbsp;Net assets, end of period (000) | $72589 | $19604 | $50 | $358 | $10 | $11 |
| &nbsp;&nbsp;&nbsp;Average net assets (000) | $45571 | $5390 | $30 | $80 | $17 | $10 |
| &nbsp;&nbsp;&nbsp;Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses after waivers and/or expense reimbursement | 0.60 %<sup>(d)</sup> | 0.60% | 0.60% | 0.61 %<sup>(e)</sup> | 0.60% | 0.60% |
| &nbsp;&nbsp;&nbsp;Expenses before waivers and/or expense reimbursement | 0.68 %<sup>(d)</sup> | 1.10% | 34.13% | 9.41% | 35.37% | 62.68% |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 5.01 %<sup>(d)</sup> | 5.24% | 7.17% | 6.68% | 3.31% | 3.02% |
| &nbsp;&nbsp;&nbsp;Portfolio turnover rate<sup>(f)</sup> | 37% | 36% | 46% | 47% | 37% | 58% |

---

(a) Calculated based on average shares outstanding during the period.

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

(c) Does not include expenses of the underlying funds in which the Fund invests.

(d) Annualized.

(e) Includes certain non-recurring expenses of 0.01% which are being excluded from the Fund's contractual waiver, if applicable, for the for the year ended September 30, 2023.

(f) The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kind transactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

PGIM Securitized Credit Fund 31

------

Notes to Financial Statements (unaudited)

1. Organization

Prudential Investment Portfolios 8 (the "Registered Investment Company" or "RIC") is registered under the Investment Company Act of 1940, as amended ("1940 Act"), as an open-end management investment company. The RIC is organized as a Delaware Statutory Trust. These financial statements relate only to the PGIM Securitized Credit Fund (the "Fund"), a series of the RIC. The Fund is classified as a diversified fund for purposes of the 1940 Act.

The investment objective of the Fund is to seek to maximize total return, through a combination of current income and capital appreciation.

2. Accounting Policies

The Fund follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") Topic 946 Financial Services — *Investment Companies.* The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements. The policies conform to U.S. generally accepted accounting principles ("GAAP"). The Fund consistently follows such policies in the preparation of its financial statements.

The Fund adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of ASU 2023-07 exclusively impacted financial statement disclosures only and did not affect the Fund's financial position or performance. The intent of ASU 2023-07 is, through improved segment disclosures, to enable investors to better understand an entity's overall performance. The officers of the Fund, as listed in the Fund's Statement of Additional Information, act as the Fund's chief operating decision maker ("CODM"). The CODM has determined that the Fund has a single operating segment as the CODM monitors the operating results of the Fund as a whole and the Fund's long-term strategic asset allocation is pre-determined in accordance with the terms of its respective prospectus, based on a defined investment strategy which is executed by the Fund's subadviser.

The CODM allocates resources and assesses performance based on the operating results of the Fund, which is consistent with the results presented in the Fund's Schedule of Investments, Statement of Changes in Net Assets and Financial Highlights.

*Securities Valuation:* The Fund holds securities and other assets and liabilities that are fair valued as of the close of each day (generally, 4:00 PM Eastern time) the New York Stock Exchange ("NYSE") is open for trading. As described in further detail below, the Fund's investments are valued daily based on a number of factors, including the type of investment and whether market quotations are readily available. The RIC's Board of Trustees (the "Board") has approved the Fund's valuation policies and procedures for security valuation and designated PGIM Investments LLC ("PGIM Investments", the "Investment Manager" or the "Manager") as the "Valuation Designee," as defined by Rule 2a-5(b) under the 1940 Act, to perform the fair value determination relating to all Fund investments. Pursuant to the Board's oversight, the Valuation Designee has established a Valuation Committee to perform the duties and responsibilities of the Valuation Designee under Rule 2a-5. The valuation procedures permit the Fund to utilize independent pricing vendor services, quotations from market makers, and alternative valuation methods when market quotations are either not readily available or not deemed representative of fair value. Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.

For the fiscal reporting period-end, securities and other assets and liabilities were fair valued at the close of the last U.S. business day. Trading in certain foreign securities may occur when the NYSE is closed (including weekends and holidays). Because such foreign securities trade in markets that are open on weekends and U.S. holidays, the values of some of the Fund's foreign investments may change on days when investors cannot purchase or redeem Fund shares.

Various inputs determine how the Fund's investments are valued, all of which are categorized according to the three broad levels (Level 1, 2, or 3) detailed in the Schedule of Investments and referred to herein as the "fair value hierarchy" in accordance with FASB ASC Topic 820 Fair Value Measurement.

Common or preferred stocks, exchange-traded funds ("ETFs") and derivative instruments, if applicable, that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange where the security principally trades. Securities traded via Nasdaq are valued at the Nasdaq official closing price. To the extent these securities are valued at the last sale price or Nasdaq official closing price, they are classified as Level 1 in the fair value hierarchy. In the event that no sale or official

------

closing price on a valuation date exists, these securities are generally valued at the mean between the last reported bid and ask prices, or at the last bid price in the absence of an ask price. These securities are classified as Level 2 in the fair value hierarchy.

Investments in open-end funds (other than ETFs) are valued at their net asset values as of the close of the NYSE on the date of valuation. These securities are classified as Level 1 in the fair value hierarchy since they may be purchased or sold at their net asset values on the date of valuation.

Fixed income securities traded in the over-the-counter ("OTC") market are generally classified as Level 2 in the fair value hierarchy. Such fixed income securities are typically valued using the market approach which generally involves obtaining data from an approved independent third-party vendor source. The Fund utilizes the market approach as the primary method to value securities when market prices of identical or comparable instruments are available. The third-party vendors' valuation techniques used to derive the evaluated bid price are based on evaluating observable inputs, including but not limited to, yield curves, yield spreads, credit ratings, deal terms, tranche level attributes, default rates, cash flows, prepayment speeds, broker/dealer quotations and reported trades. Certain Level 3 securities are also valued using the market approach when obtaining a single broker quote or when utilizing transaction prices for identical securities that have been used in excess of five business days. During the reporting period, there were no changes to report with respect to the valuation approach and/or valuation techniques discussed above.

Floating rate and other loans are generally valued at prices provided by approved independent pricing vendors. The pricing vendors utilize broker/dealer quotations and provide prices based on the average of such quotations. Floating rate and other loans valued using such vendor prices are generally classified as Level 2 in the fair value hierarchy. Floating rate and other loans valued based on a single broker quote or at the original transaction price in excess of five business days are classified as Level 3 in the fair value hierarchy.

Private debt/loans are generally valued at prices obtained by independent valuation providers. Such valuation providers typically utilize the income approach as the primary methodology, but may use other fair value approaches based on facts and circumstances. Valuations received from the independent valuation providers are reviewed by the Valuation Designee to ensure the valuations are in accordance with the Fund's valuation policies and procedures as well as all relevant valuation and accounting standards. Private debt/loans are generally classified as Level 3 in the fair value hierarchy.

OTC and centrally cleared derivative instruments are generally classified as Level 2 in the fair value hierarchy. Such derivative instruments are typically valued using the market approach and/or income approach which generally involves obtaining data from an approved independent third-party vendor source. The Fund utilizes the market approach when quoted prices in broker-dealer markets are available but also includes consideration of alternative valuation approaches, including the income approach. In the absence of reliable market quotations, the income approach is typically utilized for purposes of valuing derivatives such as interest rate swaps based on a discounted cash flow analysis whereby the value of the instrument is equal to the present value of its future cash inflows or outflows. Such analysis includes projecting future cash flows and determining the discount rate (including the present value factors that affect the discount rate) used to discount the future cash flows. In addition, the third-party vendors' valuation techniques used to derive the evaluated derivative price is based on evaluating observable inputs, including but not limited to, underlying asset prices, indices, spreads, interest rates and exchange rates. Certain derivatives may be classified as Level 3 when valued using the market approach by obtaining a single broker quote or when utilizing unobservable inputs in the income approach. During the reporting period, there were no changes to report with respect to the valuation approach and/or valuation techniques discussed above.

Securities and other assets that cannot be priced according to the methods described above are valued based on policies and procedures approved by the Board. In the event that unobservable inputs are used when determining such valuations, the securities will be classified as Level 3 in the fair value hierarchy. Altering one or more unobservable inputs may result in a significant change to a Level 3 security's fair value measurement.

When determining the fair value of securities, some of the factors influencing the valuation include: the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer's financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of the issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; and any available analyst media or other reports or information deemed reliable by the Valuation Designee regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security's most recent closing price and from the price used by other unaffiliated mutual funds to calculate their net asset values.

*Foreign Currency Translation:* The books and records of the Fund are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars on the following basis:

(i) market value of investment securities, other assets and liabilities — at the exchange rate as of the valuation date;

PGIM Securitized Credit Fund 33

------

Notes to Financial Statements (unaudited) (continued)

(ii) purchases and sales of investment securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions.

Although the net assets of the Fund are presented at the foreign exchange rates and market values at the close of the period, the Fund does not generally isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities held at the end of the period. Similarly, the Fund does not isolate the effect of changes in foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities sold during the period. Accordingly, holding period unrealized and realized foreign currency gains (losses) are included in the reported net change in unrealized appreciation (depreciation) on investments and net realized gains (losses) on investment transactions on the Statements of Operations.

Net realized gains (losses) on foreign currency transactions represent net foreign exchange gains (losses) from the disposition of holdings of foreign currencies, currency gains (losses) realized between the trade and settlement dates on investment transactions, and the difference between the amounts of interest, dividends and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized currency gains (losses) arise from valuing foreign currency denominated assets and liabilities (other than investments) at period end exchange rates.

*Forward and Cross Currency Contracts:* A forward currency contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. The Fund enters into forward currency contracts, as defined in the prospectus, in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings or on specific receivables and payables denominated in a foreign currency and to gain exposure to certain currencies. The contracts are valued daily at current forward exchange rates and any unrealized gain (loss) is included in net unrealized appreciation or depreciation on forward and cross currency contracts. Gain (loss) is realized on the settlement date of the contract equal to the difference between the settlement value of the original and negotiated forward contracts. This gain (loss), if any, is included in net realized gain (loss) on forward and cross currency contract transactions. Risks may arise upon entering into these contracts from the potential inability of the counterparties to meet the terms of their contracts. Forward currency contracts involve risks from currency exchange rate and credit risk in excess of the amounts reflected on the Statement of Assets and Liabilities. The Fund's maximum risk of loss from counterparty credit risk is the net value of the cash flows to be received from the counterparty at the end of the contract's life. A cross currency contract is a forward contract where a specified amount of one foreign currency will be exchanged for a specified amount of another foreign currency.

*Financial Futures Contracts:* A financial futures contract is an agreement to purchase (long) or sell (short) an agreed amount of securities at a set price for delivery on a future date. Upon entering into a financial futures contract, the Fund is required to deposit collateral with a futures commission merchant an amount of cash and/or other assets equal to a certain percentage of the contract amount. This amount is known as the "initial margin." Subsequent payments, known as "variation margin," are made or received by the Fund each day, equal to the change in the mark-to-market value of the futures contract. Such variation margin is recorded for financial statement purposes on a daily basis as unrealized gain (loss). When the contract expires or is closed, the gain (loss) is realized and is presented in the Statement of Operations as net realized gain (loss) on futures transactions.

The Fund invested in financial futures contracts in order to hedge its existing portfolio securities, or securities the Fund intends to purchase, against fluctuations in value caused by changes in prevailing interest rates. Should interest rates move unexpectedly, the Fund may not achieve the anticipated benefits of the financial futures contracts and may realize a loss. The use of futures transactions involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and the underlying hedged assets. Since futures contracts are exchange-traded, there is minimal counterparty credit risk to the Fund since the exchanges' clearinghouse acts as counterparty to all exchange-traded futures and guarantees the futures contracts against default.

*Swap Agreements:* The Fund entered into certain types of swap agreements detailed in the disclosures below. A swap agreement is an agreement to exchange the return generated by one instrument for the return generated by another instrument. Swap agreements are negotiated in the OTC market and may be executed either directly with a counterparty ("OTC-traded") or through a central clearing facility, such as a registered exchange. Swap agreements are valued daily at current market value and any change in value is included in the net unrealized appreciation or depreciation on swap agreements. Centrally cleared swaps pay or receive an amount known as "variation margin", based on daily changes in the valuation of the swap contract. For OTC-traded, upfront premiums paid and received are shown as swap premiums paid and swap premiums received in the Statement of Assets and Liabilities. Risk of loss may exceed amounts recognized on the Statement of Assets and Liabilities. Swap agreements outstanding at period end, if any, are listed on the Schedule of Investments.

------

*Interest Rate Swaps:* Interest rate swaps represent an agreement between counterparties to exchange cash flows based on the difference between two interest rates, applied to a notional principal amount for a specified period. The Fund is subject to interest rate risk exposure in the normal course of pursuing its investment objective. The Fund used interest rate swaps to maintain its ability to generate steady cash flow by receiving a stream of fixed rate payments or to increase exposure to prevailing market rates by receiving floating rate payments. The Fund's maximum risk of loss from counterparty credit risk is the discounted net present value of the cash flows to be received from the counterparty over the contract's remaining life.

*Credit Default Swaps ("CDS"):* CDS involve one party (the protection buyer) making a stream of payments to another party (the protection seller) in exchange for the right to receive a specified payment in the event of a default or as a result of a default (collectively, a "credit event") for the referenced entity (typically corporate issues or sovereign issues of an emerging country) on its obligation; or in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising a credit index.

The Fund is subject to credit risk in the normal course of pursuing its investment objectives, and as such, has entered into CDS contracts 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" because the higher the contract value rises, the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases. The Fund's maximum risk of loss from counterparty credit risk for purchased CDS is the inability of the counterparty to honor the contract up to the notional value due to a credit event.

As a seller of protection on credit default swap agreements, the Fund generally receives an agreed upon payment from the buyer of protection throughout the term of the swap, provided no credit event occurs. As the seller, the Fund effectively increases its investment risk because, in addition to its total net assets, the Fund may be subject to investment exposure on the notional amount of the swap.

The maximum amount of the payment that the Fund, as a seller of protection, could be required to make under a credit default swap agreement would be equal to the notional amount of the underlying security or index contract as a result of a credit event. This potential amount will be partially offset by any recovery values of the respective referenced obligations or net amounts received from the settlement of buy protection credit default swap agreements which the Fund entered into for the same referenced entity or index. As a buyer of protection, the Fund generally receives an amount up to the notional value of the swap if a credit event occurs.

Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements where the Fund is the seller of protection as of period end are disclosed in the footnotes to the Schedule of Investments, if applicable. These spreads serve as indicators of the current status of the payment/performance risk and represent the likelihood of default risk for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to enter into the agreement. Wider credit spreads and increased market value in absolute terms, when compared to the notional amount of the swap, 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.

*Floating Rate and Other Loans:* The Fund invested in floating rate and other loans. Floating rate and other loans include loans that are privately negotiated between a corporate borrower and one or more financial institutions, including, but not limited to, term loans, revolvers, and other instruments issued in the floating rate and other loans market. The Fund acquire interests in loans directly (by way of assignment from the selling institution) and/or indirectly (by way of the purchase of a participation interest from the selling institution). Under a floating rate and other loans assignment, the Fund generally will succeed to all the rights and obligations of an assigning lending institution and become a lender under the loan agreement with the relevant borrower in connection with that loan. Under a floating rate and other loans participation, the Fund generally will have a contractual relationship only with the lender, not with the relevant borrower. As a result, the Fund generally will have the right to receive payments of principal, interest, and any fees to which they are entitled only from the lender selling the participation and only upon receipt by the lender of the payments from the relevant borrower. The Fund may not directly benefit from the collateral supporting the debt obligation in which they have purchased the participation. As a result, the Fund will assume the credit risk of both the borrower and the institution selling the participation to the Fund.

*Mortgage-Backed and Asset-Backed Securities:* Mortgage-backed securities are pass-through securities, meaning that principal and interest payments made by the borrower on the underlying mortgages are passed through to the Fund. Asset-backed securities directly or indirectly represent a participation interest in, or are secured by and payable from, a stream of payments generated by particular assets such as motor vehicle or credit card receivables. Asset-backed securities may be classified as pass-through certificates or collateralized obligations, such as collateralized bond obligations, collateralized loan obligations and other similarly structured securities. The value of mortgage-backed and asset-backed securities varies with changes in interest rates and may be affected by changes in credit quality or value of the mortgage loans or other assets that support the securities.

PGIM Securitized Credit Fund 35

------

Notes to Financial Statements (unaudited) (continued)

Stripped mortgage-backed securities are usually structured with two classes that receive different proportions of the interest ("IO") and principal ("PO") distributions on a pool of mortgage assets. Payments received for IOs are included in interest income on the Statements of Operations. Because no principal will be received at the maturity of an IO, adjustments are made to the cost of the security on a monthly basis until maturity. These adjustments are included in interest income on the Statements of Operations. Payments received for POs are treated as reductions to the cost and par value of the securities.

*Master Netting Arrangements:* The RIC, on behalf of the Fund, is subject to various Master Agreements, or netting arrangements, with select counterparties. These are agreements which a subadviser may have negotiated and entered into on behalf of all or a portion of the Fund. A master netting arrangement between the Fund and the counterparty permits the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received and by the receipt of collateral from the counterparty by the Fund to cover the Fund's exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable. In addition to master netting arrangements, the right to set-off exists when all the conditions are met such that each of the parties owes the other determinable amounts, the reporting party has the right to set-off the amount owed with the amount owed by the other party, the reporting party intends to set-off and the right of set-off is enforceable by law.

The RIC, on behalf of the Fund, is a party to International Swaps and Derivatives Association, Inc. ("ISDA") Master Agreements with certain counterparties that govern OTC derivative and foreign exchange contracts entered into from time to time. The Master Agreements may contain provisions regarding, among other things, the parties' general obligations, representations, agreements, collateral requirements, events of default and early termination. With respect to certain counterparties, in accordance with the terms of the Master Agreements, collateral posted to the Fund is held in a segregated account by the Fund's custodian and with respect to those amounts which can be sold or re-pledged, is presented in the Schedule of Investments. Collateral pledged by the Fund is segregated by the Fund's custodian and identified in the Schedule of Investments. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to by the Fund and the applicable counterparty. Collateral requirements are determined based on the Fund's net position with each counterparty. Termination events applicable to the Fund may occur upon a decline in the Fund's net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty's long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the Fund's counterparties to elect early termination could impact the Fund's future derivative activity.

In addition to each instrument's primary underlying risk exposure (e.g. interest rate, credit, equity or foreign exchange, etc.), swap agreements involve, to varying degrees, elements of credit, market and documentation risk. Such risks involve the possibility that no liquid market for these agreements will exist, the counterparty to the agreement may default on its obligation to perform or disagree on the contractual terms of the agreement, and changes in net interest rates will be unfavorable. In connection with these agreements, securities in the portfolio may be identified or received as collateral from the counterparty in accordance with the terms of the respective swap agreements to provide or receive assets of value and to serve as recourse in the event of default or bankruptcy/insolvency of either party. Such OTC derivative agreements include conditions which, when materialized, give the counterparty the right to cause an early termination of the transactions under those agreements. Any election by the counterparty for early termination of the contract(s) may impact the amounts reported on financial statements.

Short sales and OTC contracts, including forward foreign currency exchange contracts, swaps, forward rate agreements and written options involve elements of both market and credit risk in excess of the amounts reflected on the Statement of Assets and Liabilities, if applicable. Such risks may be mitigated by engaging in master netting arrangements.

*Warrants:* The Fund held warrants acquired either through a direct purchase or pursuant to corporate actions. Warrants entitle the holder to buy a proportionate amount of common stock, or such other security that the issuer may specify, at a specific price and time through the expiration dates. Such warrants are held as long positions by the Fund until exercised, sold or expired. Warrants are valued at fair value in accordance with the Board approved fair valuation procedures.

*Securities Transactions and Net Investment Income:* Securities transactions are recorded on the trade date. Realized gains (losses) from investment and currency transactions are calculated on the specific identification method. Dividend income is recorded on the ex-date, or for certain foreign securities, when the Fund becomes aware of such dividends. Interest income, including amortization of premium and accretion of discount on debt securities, as required, is recorded on the accrual basis. Expenses are recorded on an accrual basis, which may require the use of certain estimates by management that may differ from actual expense amounts. Net investment income or

------

loss (other than class specific expenses and waivers, which are allocated as noted below) and unrealized and realized gains (losses) are allocated daily to each class of shares based upon the relative proportion of adjusted net assets of each class at the beginning of the day. Class specific expenses and waivers, where applicable, are charged to the respective share classes. Such class specific expenses and waivers include distribution fees and distribution fee waivers, shareholder servicing fees, transfer agent's fees and expenses, registration fees and fee waivers and/or expense reimbursements, as applicable.

*Taxes:* It is the Fund's policy to continue to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its taxable net investment income and capital gains, if any, to its shareholders. Therefore, no federal income tax provision is required. Withholding taxes on foreign dividends, interest and capital gains, if any, are recorded, net of reclaimable amounts, at the time the related income is earned.

*Dividends and Distributions:* Dividends and distributions to shareholders, which are determined in accordance with federal income tax regulations and which may differ from GAAP, are recorded on the ex-date. Permanent book/tax differences relating to income and gain (loss) are reclassified between total distributable earnings (loss) and paid-in capital in excess of par, as appropriate. The chart below sets forth the expected frequency of dividend and capital gains distributions to shareholders. Various factors may impact the frequency of dividend distributions to shareholders, including but not limited to adverse market conditions or portfolio holding-specific events.

---

| | | |
|:---|:---|:---|
| **Expected Distribution Schedule to Shareholders\*** | **Frequency** | **Frequency** |
|  Net Investment Income |  | Monthly |
|  Short-Term Capital Gains |  | Annually |
|  Long-Term Capital Gains |  | Annually |

---

\* Under certain circumstances, the Fund may make more than one distribution of short-term and/or long-term capital gains during a fiscal year.

*Estimates:* The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

3. Agreements

The RIC, on behalf of the Fund, has entered into a management agreement with the Manager pursuant to which it has responsibility for all investment advisory services, including supervision of the subadviser's performance of such services, and for rendering administrative services.

The Manager has entered into a subadvisory agreement with PGIM, Inc., which provides subadvisory services to the Fund through its investment group PGIM Credit and PGIM Limited (collectively the "subadviser"). Effective April 8, 2026, PGIM Fixed Income was renamed PGIM Credit. PGIM Credit continues to be an investment group of PGIM, Inc. The Manager pays for the services of the subadviser.

Fees payable under the management agreement are computed daily and paid monthly. For the reporting period ended March 31, 2026, the contractual and effective management fee rates were as follows:

---

| | |
|:---|:---|
| **Contractual Management Rate** | **Effective Management Fee, before any waivers and/or expense<br>reimbursements** |
|  0.60% of the Fund's average daily net assets up to $2.5 billion; | 0.60% |
|  0.55% of the Fund's average daily net assets from $2.5 billion to $5 billion; |  |
|  0.50% of the Fund's average daily net assets over $5 billion. |  |

---

The Manager has contractually agreed, through January 31, 2027, to limit total annual operating expenses after fee waivers and/or expense reimbursements. This contractual waiver excludes interest, brokerage, taxes (such as income and foreign withholding taxes, stamp duty and deferred tax expenses), acquired fund fees and expenses, extraordinary expenses, and certain other Fund expenses such as dividend and interest expense and broker charges on short sales.

Where applicable, the Manager agrees to waive management fees or shared operating expenses on any share class to the same extent that it waives such expenses on any other share class. In addition, total annual operating expenses for Class R6 shares will not exceed total annual operating expenses for Class Z shares. Expenses waived or reimbursed by the Manager for the purpose of preventing the expenses from exceeding a stated expense ratio limit may be recouped by the Manager within the same fiscal year in which such waiver and/or reimbursement is made. Any such recoupment is limited to the lesser of the amounts that would be recoupable under: (i) the

PGIM Securitized Credit Fund 37

------

Notes to Financial Statements (unaudited) (continued)

expense limitation in effect at the time the waiver and/or reimbursement was made or (ii) the expense limitation in effect at the time of recoupment. The expense limitations attributable to each class are as follows:

---

| | |
|:---|:---|
| **Class** | **Expense<br>Limitations** |
|  A | 0.90% |
|  C | 1.65 |
|  Z | 0.65 |
|  R6 | 0.60 |

---

Separately, the Manager has contractually agreed that to the extent the Fund invests in an ETF advised by PGIM Investments ("PGIM ETF"), the Manager will waive any management fees it receives from the Fund in an amount equal to the unitary management fee received by PGIM Investments from the PGIM ETF attributable to the Fund's investment in such PGIM ETF. This waiver will be effective at any time the Fund is invested in the PGIM ETF and will remain in effect for so long as the Fund is invested in the PGIM ETF, unless earlier terminated by agreement of the Board of the Fund.

The RIC, on behalf of the Fund, has a distribution agreement with Prudential Investment Management Services LLC ("PIMS"), which acts as the distributor of the Class A, Class C, Class Z and Class R6 shares of the Fund. The Fund compensates PIMS for distributing and servicing the Fund's Class A and Class C shares, pursuant to the plans of distribution (the "Distribution Plans"), regardless of expenses actually incurred by PIMS.

Pursuant to the Distribution Plans, the Fund compensates PIMS for distribution related activities at an annual rate based on average daily net assets per class. The distribution fees are accrued daily and payable monthly.

The Fund's annual gross and net distribution rates, where applicable, are as follows:

---

| | | |
|:---|:---|:---|
| **Class** | **Gross Distribution Fee** | **Net Distribution Fee** |
|  A | 0.25% | 0.25% |
|  C | 1.00 | 1.00 |
|  Z | N/A | N/A |
|  R6 | N/A | N/A |

---

For the reporting period ended March 31, 2026, PIMS received front-end sales charges ("FESL") resulting from sales of certain class shares and contingent deferred sales charges ("CDSC") imposed upon redemptions by certain shareholders. From these fees, PIMS paid such sales charges to broker-dealers, who in turn paid commissions to salespersons and incurred other distribution costs. The sales charges are as follows where applicable:

---

| | | |
|:---|:---|:---|
| **Class** | **FESL** | **CDSC** |
|  A | $139655 | $2823 |
|  C |  | 7204 |

---

PGIM Investments, PGIM, Inc., PGIM Limited and PIMS are indirect, wholly-owned subsidiaries of Prudential Financial, Inc. ("Prudential").

4. Other Transactions with Affiliates

Prudential Mutual Fund Services LLC ("PMFS"), an affiliate of PGIM Investments and an indirect, wholly-owned subsidiary of

Prudential, serves as the Fund's transfer agent and shareholder servicing agent. Transfer agent's fees and expenses in the Statement of Operations include certain out-of-pocket expenses paid to non-affiliates, where applicable.

The Fund may invest its overnight sweep cash in the PGIM Core Government Money Market Fund (the "Core Government Fund"), a series of the Prudential Government Money Market Fund, Inc. PGIM Investments and/or its affiliates are paid fees or reimbursed for providing their services to the Core Government Fund. In addition to the realized and unrealized gains on investments in the Core Government Fund, earnings from such investments are disclosed on the Statement of Operations as "Affiliated dividend income".

------

The Fund may enter into certain securities purchase or sale transactions under Board approved Rule 17a-7 procedures. Rule 17a-7 is an exemptive rule under the 1940 Act that, subject to certain conditions, permits purchase and sale transactions among affiliated investment companies, or between an investment company and a person that is affiliated solely by reason of having a common (or affiliated) investment adviser, common directors/trustees, and/or common officers. For the reporting period ended March 31, 2026, no Rule 17a-7 transactions were entered into by the Fund.

5. Portfolio Securities

The aggregate cost of purchases and proceeds from sales of portfolio securities (excluding short-term investments and U.S. Government securities) for the reporting period ended March 31, 2026, were as follows:

---

| | |
|:---|:---|
| **Cost of Purchases** | **Proceeds from Sales** |
| $1177449585 | $921359294 |

---

A summary of the cost of purchases and proceeds from sales of shares of affiliated investments for the reporting period ended March 31, 2026, is presented as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value,**<br> **Beginning**<br> **of**<br> **Period** | **Cost of**<br> **Purchases** | **Proceeds**<br> **from Sales** | **Change in<br>Unrealized<br>Gain**<br> (Loss) | **Realized<br>Gain**<br> (Loss) | **Value,**<br> **End**<br> **of**<br> **Period** | **Value,**<br> **End**<br> **of**<br> **Period** | **Shares,**<br> **End**<br> **of**<br> **Period** | **Income** | **Capital**<br> **Gain<br>Distributions** |
| Long-Term Investments - Affiliated Exchange-Traded Fund<sup>(wa)</sup> : | Long-Term Investments - Affiliated Exchange-Traded Fund<sup>(wa)</sup> : | Long-Term Investments - Affiliated Exchange-Traded Fund<sup>(wa)</sup> : | Long-Term Investments - Affiliated Exchange-Traded Fund<sup>(wa)</sup> : | Long-Term Investments - Affiliated Exchange-Traded Fund<sup>(wa)</sup> : | Long-Term Investments - Affiliated Exchange-Traded Fund<sup>(wa)</sup> : |  |  |  |  |
|  PGIM AAA CLO ETF |  |  |  |  |  |  |  |  |  |
| $37337500 | $— | $37149127 | $(253324) | $64951 |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $623594 | $— |
|  **Short-Term Investments - Affiliated Mutual Fund:** | **Short-Term Investments - Affiliated Mutual Fund:** | **Short-Term Investments - Affiliated Mutual Fund:** |  |  |  |  |  |  |  |
|  PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wa)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wa)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wa)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 3.781%)<sup>(wa)</sup> |  |  |  |  |  |  |
| $21281330 | $526998700 | $516235728 | $— | $— | $32044302 | $32044302 | 32044302 | $1080872 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;(wa) Represents investments in Funds affiliated with the Manager.

6. Tax Information

The United States federal income tax basis of the Fund's investments and the net unrealized appreciation (depreciation) as of March 31, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Tax Basis** | **Gross**<br> **Unrealized<br>Appreciation** | **Gross**<br> **Unrealized<br>Depreciation** | **Net**<br> **Unrealized<br>Appreciation** |
| $2686493310 | $47226139 | $(15645267) | $31580872 |

---

The GAAP basis may differ from tax basis due to certain tax-related adjustments.

For federal income tax purposes, the Fund had an approximated capital loss carryforward as of September 30, 2025 which can be carried forward for an unlimited period. No capital gains distributions are expected to be paid to shareholders until net gains have been realized in excess of such losses.

---

| | |
|:---|:---|
| **Capital Loss Carryforward** | **Capital Loss<br>Carryforward Utilized** |
| $5618000 | $— |

---

The Fund elected to treat the below approximated losses as having been incurred in the following fiscal year (September 30, 2026).

---

| | |
|:---|:---|
| **Qualified Late-Year Losses** | **Post-October<br>Capital Losses** |
| $22301000 | $— |

---

The Manager has analyzed the Fund's tax positions taken on federal, state and local income tax returns for all open tax years and has concluded that no provision for income tax is required in the Fund's financial statements for the current reporting period. Since tax authorities can examine previously filed tax returns, the Fund's U.S. federal and state tax returns for each of the four fiscal years up to the most recent fiscal year ended September 30, 2025 are subject to such review.

PGIM Securitized Credit Fund 39

------

Notes to Financial Statements (unaudited) (continued)

7. Capital and Ownership

The Fund offers Class A, Class C, Class Z and Class R6 shares. Class A shares are sold with a maximum front-end sales charge of 3.25%. Investors who purchase $500,000 or more of Class A shares and sell those shares within 12 months of purchase are subject to a CDSC of 1% on sales although these purchases are not subject to a front-end sales charge. The Class A CDSC is waived for certain retirement and/or benefit plans. A special exchange privilege is also available for shareholders who qualified to purchase Class A shares at net asset value. Class C shares are sold with a CDSC of 1% on sales made within 12 months of purchase. Class C shares will automatically convert to Class A shares on a monthly basis approximately eight years after purchase. Class Z and Class R6 shares are not subject to any sales or redemption charges and are available exclusively for sale to a limited group of investors.

Under certain circumstances, an exchange may be made from specified share classes of the Fund to one or more other share classes of the Fund as presented in the table of transactions in shares of beneficial interest, below.

The RIC has authorized an unlimited number of shares of beneficial interest of the Fund at $0.001 par value per share, currently divided into four classes, designated Class A, Class C, Class R6 and Class Z.

As of March 31, 2026, Prudential, through its affiliated entities, including affiliated funds (if applicable), owned shares of the Fund as follows:

---

| | | |
|:---|:---|:---|
| **Class** | **Number of Shares** | **Percentage of Outstanding Shares** |
|  C | 1298 | 0.1% |
|  Z | 7438 | 0.1 |
|  R6 | 1393 | 0.1 |

---

At the reporting period end, the number of shareholders holding greater than 5% of the Fund are as follows:

---

| | | |
|:---|:---|:---|
|  | **Number of Shareholders** | **Percentage of Outstanding Shares** |
|  Affiliated |  | —% |
|  Unaffiliated | 6 | 91.1 |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Transactions in shares of beneficial interest were as follows:

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp; **Six months ended March 31, 2026:** |  |  |
| &nbsp;&nbsp; Shares sold | 4355487 | $42594119 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 156034 | 1525547 |
| &nbsp;&nbsp; Shares purchased | (1728693) | (16902024) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 2782828 | 27217642 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 1779 | 17400 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (71844) | (701689) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 2712763 | $26533353 |
| &nbsp;&nbsp; **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 5387043 | $52442877 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 174384 | 1697922 |
| &nbsp;&nbsp; Shares purchased | (1149163) | (11185294) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 4412264 | 42955505 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 4178 | 40614 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (53615) | (521693) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 4362827 | $42474426 |
| &nbsp;&nbsp; **Class C** |  |  |
| &nbsp;&nbsp; **Six months ended March 31, 2026:** |  |  |
| &nbsp;&nbsp; Shares sold | 650042 | $6349033 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 70154 | 685398 |
| &nbsp;&nbsp; Shares purchased | (378823) | (3702575) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 341373 | 3331856 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (6389) | (62545) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 334984 | $3269311 |
| &nbsp;&nbsp; **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 3052805 | $29702168 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 81280 | 790894 |
| &nbsp;&nbsp; Shares purchased | (146881) | (1427689) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 2987204 | 29065373 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (16561) | (160980) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 2970643 | $28904393 |
| &nbsp;&nbsp; **Class Z** |  |  |
| &nbsp;&nbsp; **Six months ended March 31, 2026:** |  |  |
| &nbsp;&nbsp; Shares sold | 74309466 | $726717354 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 6054164 | 59188037 |
| &nbsp;&nbsp; Shares purchased | (59272942) | (579536229) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 21090688 | 206369162 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 73307 | 716176 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (152880) | (1492324) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 21011115 | $205593014 |
| &nbsp;&nbsp; **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 241963809 | $2355959121 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 9101811 | 88627709 |
| &nbsp;&nbsp; Shares purchased | (75820331) | (737312687) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 175245289 | 1707274143 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 65992 | 642142 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (22462) | (218468) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 175288819 | $1707697817 |
| &nbsp;&nbsp; **Class R6** |  |  |
| &nbsp;&nbsp; **Six months ended March 31, 2026:** |  |  |
| &nbsp;&nbsp; Shares sold | 5904542 | $57703549 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 115495 | 1128757 |

---

PGIM Securitized Credit Fund 41

------

Notes to Financial Statements (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; Shares purchased | (742417) | $(7253891) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 5277620 | 51578415 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 156031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1522982 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 5433651 | $53101397 |
| &nbsp;&nbsp; **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 2104248 | $20461302 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 29220 | 284507 |
| &nbsp;&nbsp; Shares purchased | (152186) | (1482138) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 1981282 | 19263671 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 22470 | 218385 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 2003752 | $19482056 |

---

8. Borrowings

The RIC, on behalf of the Fund, along with other affiliated registered investment companies (the "Participating Funds"), is a party to a Syndicated Credit Agreement ("SCA") with a group of banks. The purpose of the SCA is to provide an alternative source of temporary funding for capital share redemptions. The table below provides details of the current SCA in effect at the reporting period-end as well as the prior SCA.

---

| | | |
|:---|:---|:---|
|  | **Current SCA** | **Prior SCA** |
|  **Term of Commitment** | 9/26/2025 - 9/24/2026 | 9/27/2024 - 9/25/2025 |
|  **Total Commitment** | $1200000000 | $1200000000 |
|  **Annualized Commitment Fee on the**<br> **Unused Portion of the SCA** | 0.15% | 0.15% |
|  | 1.00% plus the higher of (1)<br>the effective federal funds | 1.00% plus the higher of (1)<br>the effective federal funds |
|  **Annualized Interest Rate on**<br> **Borrowings** | rate, (2) the daily SOFR rate<br>plus 0.10% or (3) zero<br>percent | rate, (2) the daily SOFR rate<br>plus 0.10% or (3) zero<br>percent |

---

Certain affiliated registered investment companies that are parties to the SCA include portfolios that are subject to a predetermined mathematical formula used to manage certain benefit guarantees offered under variable annuity contracts. The formula may result in large scale asset flows into and out of these portfolios. Consequently, these portfolios may be more likely to utilize the SCA for purposes of funding redemptions. It may be possible for those portfolios to fully exhaust the committed amount of the SCA, thereby requiring the Manager to allocate available funding per a Board-approved methodology designed to treat the Participating Funds in the SCA equitably.

The Fund did not utilize the SCA during the reporting period ended March 31, 2026.

9. Risks of Investing in the Fund

The Fund's principal risks include, but are not limited to, some or all of the risks discussed below. For further information on the Fund's risks, please refer to the Fund's Prospectus and Statement of Additional Information.

*Collateralized Loan Obligations ("CLOs") Risk:* CLOs are subject to credit, interest rate, valuation, and prepayment and extension risks. These securities also are subject to risk of default on the underlying asset, particularly during periods of economic downturn. The market value of CLOs may be affected by, among other things, changes in the market value of the underlying assets held by the CLO, changes in the distributions on the underlying assets, defaults and recoveries on the underlying assets, capital gains and losses on the underlying assets, prepayments on underlying assets and the availability, prices and interest rate of underlying assets.

*"Covenant-Lite" Risk:* Some of the loans or debt obligations in which the Fund may invest or get exposure to may be "covenant-lite", which means the loans or obligations contain fewer financial maintenance covenants than other loans or obligations (in some cases, none) and do not include terms which allow the lender to monitor the borrower's performance and declare a default if certain criteria are breached. An investment by the Fund in a covenant-lite loan may potentially hinder the ability to reprice credit risk associated with the issuer and reduce the ability to restructure a problematic loan and mitigate potential loss. The Fund may also experience difficulty,

------

expenses or delays in enforcing its rights on its holdings of covenant-lite loans or obligations. As a result of these risks, the Fund's exposure to losses may be increased, which could result in an adverse impact on the Fund's net income and NAV.

*Credit Risk/Counterparty Risk:* The ability, or perceived ability, of the issuer or guarantor of a debt security, or the counterparty (the party on the other side of the transaction) to a derivatives contract or other financial contract to meet its financial obligations will affect the value of the security or derivative. Counterparty and credit risk are especially important in the context of privately negotiated instruments. The Fund expects to enter into certain privately negotiated agreements where the counterparty assumes the physical settlement obligations of the Fund under such transactions. Under this type of arrangement, there is a risk that the relevant counterparty or intermediary would, due to insolvency or other reasons, be unable to or fail to assume the physical settlement obligations of the Fund, in which case the Fund could be required to sell portfolio instruments at unfavorable times or prices or could have insufficient assets to satisfy its physical settlement obligations.

Credit ratings are intended to provide a measure of credit risk. However, credit ratings are only the opinions of the credit rating agency issuing the ratings and are not guarantees as to quality. The lower the rating of a debt security held by the Fund, the greater the degree of credit risk that is perceived to exist by the credit rating agency with respect to that security. Increasing the amount of Fund assets allocated to lower-rated securities generally will increase the credit risk to which the Fund is subject. Not all securities in which the Fund invests are rated. The lower the credit quality of a bond, the more sensitive it is to credit risk.

*Currency Risk:* The Fund's net asset value could decline as a result of changes in exchange rates, which could adversely affect the Fund's investments in currencies, or in securities that trade in, and receive revenues related to, currencies, or in derivatives that provide exposure to currencies. Certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest or dividends to investors located outside the country, due to blockage of foreign currency exchanges or otherwise.

*Debt Obligations Risk:* Debt obligations are fixed income investments that are subject to credit risk, market risk and interest rate risk. The Fund's holdings, share price, yield and total return may also fluctuate in response to bond market movements. The value of bonds may decline for issuer-related reasons, including management performance, financial leverage and reduced demand for the issuer's goods and services. Certain types of fixed income obligations also may be subject to "call and redemption risk," which is the risk that the issuer may call a bond held by the Fund for redemption before it matures and the Fund may not be able to reinvest at the same rate of interest and therefore would earn less income.

*Derivatives Risk:* Derivatives involve special risks and costs and may result in losses to the Fund. The successful use of derivatives requires sophisticated management, and, to the extent that derivatives are used, the Fund will depend on its subadviser's ability to analyze and manage derivatives transactions. The prices of derivatives may move in unexpected ways, especially in abnormal market conditions. Some derivatives are "leveraged" or may create economic leverage for the Fund. and therefore may magnify or otherwise increase investment losses to the Fund. The Fund's use of derivatives may also increase the amount of taxes payable by shareholders.

Other risks arise from the potential inability to terminate or sell derivatives positions. A liquid secondary market may not always exist for the Fund's derivatives positions. In fact, many over-the-counter derivative instruments will not have liquidity beyond the counterparty to the instrument. Over-the-counter derivative instruments also involve the risk that the other party will not meet its obligations to the Fund. The use of derivatives also exposes the Fund to operational issues, such as documentation and settlement issues, systems failures, inadequate control and human error.

Derivatives may also involve legal risks, such as insufficient documentation, the lack of capacity or authority of a counterparty to execute or settle a transaction, and the legality and enforceability of derivatives contracts. The U.S. Government and foreign governments have adopted (and may adopt further) regulations governing derivatives markets, including mandatory clearing of certain derivatives, margin and reporting requirements and risk exposure limitations. Regulation of derivatives may make derivatives more costly, limit their availability or utility to the Fund, or otherwise adversely affect their performance or disrupt markets.

*Economic and Market Events Risk:* Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth or the functioning of the securities markets, or otherwise reduce inflation, may at times result in unusually high market volatility, which could negatively impact performance. Governmental efforts to curb inflation often have negative effects on the level of economic activity. Relatively reduced liquidity in credit and fixed income markets could adversely affect issuers worldwide.

*Floating Rate and Other Loans Risk:* The Fund's ability to receive payments of principal and interest and other amounts in connection with loans (whether through participations, assignments or otherwise) will depend primarily on the financial condition of the borrower. The failure by the Fund to receive scheduled interest or principal payments on a loan because of a default, bankruptcy or any other

PGIM Securitized Credit Fund 43

------

Notes to Financial Statements (unaudited) (continued)

reason would adversely affect the income of the Fund and would likely reduce the value of its assets. Even with loans secured by collateral, there is the risk that the value of the collateral may decline, may be insufficient to meet the obligations of the borrower, or be difficult to liquidate. In the event of a default, the Fund may have difficulty collecting on any collateral and would not have the ability to collect on any collateral for an uncollateralized loan. Further, the Fund's access to collateral, if any, may be limited by bankruptcy laws. Due to the nature of the private syndication of senior loans, including, for example, lack of publicly-available information, some senior loans are not as easily purchased or sold as publicly-traded securities. In addition, loan participations generally are subject to restrictions on transfer, and only limited opportunities may exist to sell loan participations in secondary markets. As a result, it may be difficult for the Fund to value loans or sell loans at an acceptable price when it wants to sell them. Loans trade in an over-the-counter market, and confirmation and settlement, which are effected through standardized procedures and documentation, may take significantly longer than seven days to complete. Extended trade settlement periods may, in unusual market conditions with a high volume of shareholder redemptions, present a risk to shareholders regarding the Fund's ability to pay redemption proceeds in a timely manner. In some instances, loans and loan participations are not rated by independent credit rating agencies; in such instances, a decision by the Fund to invest in a particular loan or loan participation could depend exclusively on the subadviser's credit analysis of the borrower, or in the case of a loan participation, of the intermediary holding the portion of the loan that the Fund has purchased. To the extent the Fund invests in loans of non-U.S. issuers, the risks of investing in non-U.S. issuers are applicable. Loans may not be considered to be "securities" and as a result may not benefit from the protections of the federal securities laws, including anti-fraud protections and those with respect to the use of material non-public information, so that purchasers, such as the Fund, may not have the benefit of these protections. If the Fund is in possession of material non-public information about a borrower as a result of its investment in such borrower's loan, the Fund may not be able to enter into a transaction with respect to a publicly-traded security of the borrower when it would otherwise be advantageous to do so.

*Foreign Securities Risk:* Investments in securities of non-U.S. issuers (including those denominated in U.S. dollars) may involve more risk than investing in securities of U.S. issuers. Foreign political, economic and legal systems, especially those in developing and emerging market countries, may be less stable and more volatile than in the United States. Foreign legal systems generally have fewer regulatory requirements than the U.S. legal system, particularly those of emerging markets. In general, less information is publicly available with respect to non-U.S. companies than U.S. companies. Non-U.S. companies generally are not subject to the same accounting, auditing, and financial reporting standards as are U.S. companies. Additionally, the changing value of foreign currencies and changes in exchange rates could also affect the value of the assets the Fund holds and the Fund's performance. Certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest or dividends to investors located outside the country, due to blockage of foreign currency exchanges or otherwise. Investments in emerging markets are subject to greater volatility and price declines.

In addition, the Fund's investments in non-U.S. securities may be subject to the risks of nationalization or expropriation of assets, imposition of currency exchange controls or restrictions on the repatriation of non-U.S. currency, confiscatory taxation and adverse diplomatic developments. Special U.S. tax considerations may apply.

*Increase in Expenses Risk:* Your actual cost of investing in the Fund may be higher than the expenses shown in the expense table in the Fund's prospectus for a variety of reasons. For example, expense ratios may be higher than those shown if average net assets decrease. Net assets are more likely to decrease and Fund expense ratios are more likely to increase when markets are volatile. Active and frequent trading of Fund securities can increase expenses.

*Interest Rate Risk:* The value of your investment may go down when interest rates rise. A rise in rates tends to have a greater impact on the prices of longer term or duration debt securities. For example, a fixed income security with a duration of three years is expected to decrease in value by approximately 3% if interest rates increase by 1%. This is referred to as "duration risk." When interest rates fall, the issuers of debt obligations may prepay principal more quickly than expected, and the Fund may be required to reinvest the proceeds at a lower interest rate. This is referred to as "prepayment risk." In addition, if the Fund purchases a fixed income security at a premium (at a price that exceeds its stated par or principal value), the Fund may lose the amount of the premium paid in the event of prepayment. When interest rates rise, debt obligations may be repaid more slowly than expected, and the value of the Fund's holdings may fall sharply. This is referred to as "extension risk." The Fund may lose money if short-term or long-term interest rates rise sharply or in a manner not anticipated by the subadviser.

*Junk Bonds Risk:* High-yield, high-risk bonds have predominantly speculative characteristics, including particularly high credit risk. Junk bonds tend to have lower market liquidity than higher-rated securities. The liquidity of particular issuers or industries within a particular investment category may shrink or disappear suddenly and without warning. The non-investment grade bond market can

------

experience sudden and sharp price swings and become illiquid due to a variety of factors, including changes in economic forecasts, stock market activity, large sustained sales by major investors, a high profile default or a change in the market's psychology.

*Large Shareholder and Large Scale Redemption Risk:* Certain individuals, accounts, funds (including funds affiliated with the Manager) or institutions, including the Manager and its affiliates, may from time to time own or control a substantial amount of the Fund's shares. There is no requirement that these entities maintain their investment in the Fund. There is a risk that such large shareholders or that the Fund's shareholders generally may redeem all or a substantial portion of their investments in the Fund in a short period of time, which could have a significant negative impact on the Fund's NAV, liquidity, and brokerage costs. Large redemptions could also result in tax consequences to shareholders and impact the Fund's ability to implement its investment strategy. The Fund's ability to pursue its investment objective after one or more large scale redemptions may be impaired and, as a result, the Fund may invest a larger portion of its assets in cash or cash equivalents.

*Leverage Risk:* Certain transactions in which the Fund may engage may give rise to leverage. The use of leverage exaggerates the effect of any increase or decrease in the value of the Fund's holdings, and makes any change in the Fund's net asset value ("NAV") greater than it would be without the use of leverage. This could result in increased volatility of investment return. The Fund may be required to pledge its assets or post margin in connection with certain borrowings or derivatives transactions that involve leverage. There is a possibility that posting or pledging a large portion of the assets of the Fund could impede portfolio management or the Fund's ability to meet redemption requests or other current obligations or that the Fund may be required to dispose of some of its investment at unfavorable prices or times.

*Liquidity Risk:* Liquidity risk is the risk that the Fund could not meet requests to redeem shares issued by the Fund without significant dilution of remaining investors' interests in the Fund. The Fund may invest in instruments that trade in lower volumes and are more illiquid than other investments. If the Fund is forced to sell these investments to pay redemption proceeds or for other reasons, the Fund may lose money. In addition, when there is no willing buyer and investments cannot be readily sold at the desired time or price, the Fund may have to accept a lower price or may not be able to sell the instrument at all. An inability to sell a portfolio position can adversely affect the Fund's value or prevent the Fund from being able to take advantage of other investment opportunities.

*Management Risk:* Actively managed funds are subject to management risk. The subadviser will apply investment techniques and risk analyses in making investment decisions for the Fund, but the subadviser's judgments about the attractiveness, value or market trends affecting a particular security, industry or sector or about market movements may be incorrect. Additionally, the investments selected for the Fund may underperform the markets in general, the Fund's benchmark and other funds with similar investment objectives.

*Market Disruption and Geopolitical Risks:* Market disruption can be caused by economic, financial or political events and factors, including but not limited to, international wars or conflicts (including Russia's military invasion of Ukraine and the Israel-Hamas war), geopolitical developments (including trading and tariff arrangements, sanctions and cybersecurity attacks), instability in regions such as the Middle East, South America, Eastern Europe and Asia, terrorism, natural disasters and public health epidemics (including the outbreak of COVID-19 globally).

Recent policy decisions of the U.S. government and governments of foreign countries may increase geopolitical risks that could adversely affect the investment performance of the Fund. These policies have the potential to impact international relations, trade agreements and the overall regulatory environment in ways that could create uncertainty and instability in domestic and global markets. Actions taken by the U.S. government and governments of foreign countries in respect of international trade relations could lead to trade wars, increased costs for imported goods, disruptions in supply chains, reduced foreign investment, and instability in regions where the Fund invests.

The extent and duration of such events and resulting market disruptions cannot be predicted, but could be substantial and could magnify the impact of other risks to the Fund. These and other similar events could adversely affect the U.S. and foreign financial markets and lead to increased market volatility, reduced liquidity in the securities markets, significant negative impacts on issuers and the markets for certain securities and commodities and/or government intervention. They may also cause short- or long-term economic uncertainties in the United States and worldwide. As a result, whether or not the Fund invests in securities of issuers located in or with significant exposure to the countries directly affected, the value and liquidity of the Fund's investments may be negatively impacted. Further, due to closures of certain markets and restrictions on trading certain securities, the value of certain securities held by the Fund could be significantly impacted, which could lead to such securities being valued at zero.

*Market Risk:* Securities markets may be volatile and the market prices of the Fund's securities may decline. Securities fluctuate in price based on changes in an issuer's financial condition and overall market and economic conditions. If the market prices of the securities owned by the Fund fall, the value of your investment in the Fund will decline.

PGIM Securitized Credit Fund 45

------

Notes to Financial Statements (unaudited) (continued)

*Mortgage-Backed and Asset-Backed Securities Risk:* Mortgage-backed and asset-backed securities tend to increase in value less than other debt securities when interest rates decline, but are subject to similar risk of decline in market value during periods of rising interest rates. The values of mortgage-backed and asset-backed securities become more volatile as interest rates rise. In a period of declining interest rates, the Fund may be required to reinvest more frequent prepayments on mortgage-backed and asset-backed securities in lower-yielding investments.

*Structured Products Risk:* Holders of structured product securities bear risks of the underlying investments, index or reference obligation. Certain structured products may be thinly traded or have a limited trading market, and as a result may be characterized as illiquid. The possible lack of a liquid secondary market for structured securities and the resulting inability of the Fund to sell a structured security could expose the Fund to losses and could make structured securities more difficult for the Fund to value accurately, which may also result in additional costs. Structured products are also subject to credit risk; the assets backing the structured product may be insufficient to pay interest or principal. In addition to the general risks associated with investments in fixed income, structured products carry additional risks, including, but not limited to: the possibility that distributions from collateral securities will not be adequate to make interest or other payments; the quality of the collateral may decline in value or default; and the possibility that the structured products are subordinate to other classes. Structured securities are generally privately negotiated debt obligations where the principal and/or interest or value of the structured security is determined by reference to the performance of a specific asset, benchmark asset, market or interest rate ("reference instrument"), and changes in the reference instrument or security may cause significant price fluctuations, or could cause the interest rate on the structured security to be reduced to zero. Holders of structured products indirectly bear risks associated with the reference instrument, are subject to counterparty risk and typically do not have direct rights against the reference instrument. Structured products may also entail structural complexity and documentation risk and there is no guarantee that the courts or administrators will interpret the priority of principal and interest payments as expected.

*U.S. Government and Agency Securities Risk:* U.S. Treasury obligations are backed by the "full faith and credit" of the

U.S. Government. Securities issued or guaranteed by federal agencies or authorities and U.S. Government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. Government. For example, securities issued by the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association and the Federal Home Loan Banks are neither insured nor guaranteed by the U.S. Government. These securities may be supported by the ability to borrow from the U.S. Treasury or only by the credit of the issuing agency, authority, instrumentality or enterprise and, as a result, are subject to greater credit risk than securities issued or guaranteed by the U.S. Treasury. Further, the U.S. Government and its agencies, authorities, instrumentalities and enterprises do not guarantee the market value of their securities; consequently, the value of such securities will fluctuate. This may be the case especially when there is any controversy or ongoing uncertainty regarding the status of negotiations in the U.S. Congress to increase the statutory debt ceiling. Such controversy or uncertainty could, among other things, result in the credit quality rating of the U.S. Government being downgraded and reduced prices of U.S. Treasury securities. If the U.S. Congress is unable to negotiate an adjustment to the statutory debt ceiling, there is also the risk that the U.S. Government may default on payments on certain U.S. Government securities, including those held by the Fund, which could have a negative impact on the Fund. An increase in demand for U.S. Government securities resulting from an increase in demand for government money market funds may lead to lower yields on such securities.

10. Recent Accounting Pronouncement and Regulatory Developments

During the reporting period, the Fund adopted Accounting Standards Update 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures ("ASU 2023-09"). The amendments enhance income tax disclosures by requiring greater disclosure of income taxes paid by jurisdiction. The Fund did not pay a significant amount of foreign or U.S. federal, state or local income taxes and therefore did not include any additional disclosures in these financial statements.

11. Subsequent Event

The Fund's management evaluated subsequent events through the date of issuance of the financial statements. There have been no subsequent events that occurred during such period that would require disclosure in, or would be required to be recognized in, the financial statements as of March 31, 2026.

------

#### Other Information
**Form N-CSR Item 8** - Changes in and Disagreements with Accountants for Open-End Management Investment Companies - None.

**Form N-CSR Item 9** - Proxy Disclosures for Open-End Management Investment Companies - None.

**Form N-CSR Item 10** - Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies - Included within the Statement of Operations of the financial statements filed under Item 7 of this Form.

**Form N-CSR Item 11** - Statement Regarding Basis for Approval of Investment Advisory Contract - None.

------

Item 12 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not applicable.

Item 13 – Portfolio Managers of Closed-End Management Investment Companies – Not applicable.

Item 14 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – Not applicable.

---

| | |
|:---|:---|
| Item 15 – | Submission of Matters to a Vote of Security Holders – There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.  |

---

Item 16 – Controls and Procedures

(a) It is the conclusion of the registrant's principal executive officer and principal financial officer that the effectiveness of the registrant's current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission's rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant's principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There has been no significant change in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d))) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 17 – Disclosure of Securities Lending Activities for Closed-End Management Investment Companies – Not applicable.

Item 18 – Recovery of Erroneously Awarded Compensation – Not applicable.

Item 19 – Exhibits

(a)(1) Code of Ethics – Not required, as this is not an annual filing.

(a)(2) Policy required by the listing standards adopted pursuant to Rule 10D-1 under the Securities Exchange Act of 1934 – Not applicable.

[(a)(3)](d125921dex99cert.htm) [Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 – Attached hereto as Exhibit EX-99.CERT.](d125921dex99cert.htm)

(a)(4) Any written solicitation to purchase securities under Rule 23c-1 under the Investment Company Act of 1940- Not applicable.

(a)(5) Change in the registrant's independent public accountant – Not applicable.

[(b)](d125921dex99906cert.htm) [Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – Attached hereto as Exhibit EX-99.906CERT.](d125921dex99906cert.htm)

------

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  Registrant: | <u>Prudential Investment Portfolios 8</u> |
|  By: | <u>/s/ Andrew R. French</u> |
|  | Andrew R. French |
|  | Secretary |
|  Date: | May 19, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
|  By: | <u>/s/ Stuart S. Parker</u> |
|  | Stuart S. Parker |
|  | President and Principal Executive Officer |
|  Date: | May 19, 2026 |
|  By: | <u>/s/ Christian J. Kelly</u> |
|  | Christian J. Kelly |
|  | Chief Financial Officer (Principal Financial Officer) |
|  Date: | May 19, 2026 |

---

## Ex-99.Cert

Item 19

**Prudential Investment Portfolios 8** 

Semi-Annual period ending 3/31/26

File No. 811-06677

**<u>CERTIFICATIONS</u>**

I, Stuart S. Parker, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of the above named Fund(s);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal controls which are
reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

May 19, 2026

---

| |
|:---|
| <u>/s/ Stuart S. Parker</u> |
| Stuart S. Parker |
| President and Principal Executive Officer |

---

------

Item 19

**Prudential Investment Portfolios 8** 

Semi-Annual period ending 3/31/26

File No. 811-06677

**<u>CERTIFICATIONS</u>**

I, Christian J. Kelly, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of the above named Fund(s);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal controls which are
reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

May 19, 2026

---

| |
|:---|
| <u>/s/ Christian J. Kelly</u> |
| Christian J. Kelly |
| Chief Financial Officer (Principal Financial Officer) |

---

## Exhibit 99.906

Certification Pursuant to 18 U.S.C. Section 1350

As Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

Name of Issuer: <u>Prudential Investment Portfolios 8</u>

In connection with the Report on Form N-CSR of the above-named issuer that is accompanied by this certification, the undersigned hereby certifies, to his or her knowledge, that:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Issuer.

---

| | | |
|:---|:---|:---|
|  May 19, 2026 | <u>/s/ Stuart S. Parker</u> |  |
|  May 19, 2026 | <u>/s/ Stuart S. Parker</u> | Stuart S. Parker |
|  | President and Principal Executive Officer |  |

---

---

| | | |
|:---|:---|:---|
|  May 19, 2026 | <u>/s/ Christian J. Kelly</u> |  |
|  May 19, 2026 | <u>/s/ Christian J. Kelly</u> | Christian J. Kelly |
|  | Chief Financial Officer (Principal Financial Officer) |  |

---

*This certification is being furnished solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Report or as a separate disclosure document.*