# EDGAR Filing Document

**Accession Number:** 0000887991
**File Stem:** 0000940400-26-009020
**Filing Date:** 2026-2
**Character Count:** 394900
**Document Hash:** 6dcc43d706e1032f566b1860221a163c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-009020.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000940400-26-009020

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06677
- **FILM NUMBER:** 26698584

**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 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           |

## Nport-Ex

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 96.0%** | **Long-Term Investments 96.0%** | **Long-Term Investments 96.0%** | **Long-Term Investments 96.0%** | **Long-Term Investments 96.0%** | **Long-Term Investments 96.0%** |
| **Asset-Backed Securities 54.3%** | **Asset-Backed Securities 54.3%** | **Asset-Backed Securities 54.3%** | **Asset-Backed Securities 54.3%** | **Asset-Backed Securities 54.3%** | **Asset-Backed Securities 54.3%** |
| **Automobiles 1.3%** | **Automobiles 1.3%** | **Automobiles 1.3%** | **Automobiles 1.3%** | **Automobiles 1.3%** | **Automobiles 1.3%** |
| Ally Bank Auto Credit-Linked Notes, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class F, 144A | &nbsp;&nbsp;9.892% | &nbsp;&nbsp;05/17/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp; $441839 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B, Class E, 144A | &nbsp;&nbsp;6.164 | &nbsp;&nbsp;09/15/33 |  | &nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2237668 |
| Bayview Opportunity Master Fund VII LLC,<br> Series 2024-CAR01, Class E, 144A, 30 Day Average SOFR + 3.600% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.474(c) | &nbsp;&nbsp;12/26/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596787 |
| Bayview Opportunity Master Fund VII Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CAR1F, Class A, 144A | &nbsp;&nbsp;6.971 | &nbsp;&nbsp;07/29/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SN01, Class D, 144A | &nbsp;&nbsp;6.360 | &nbsp;&nbsp;07/16/29 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021261 |
| Exeter Automobile Receivables Trust,<br> Series 2025-03A, Class C | &nbsp;&nbsp;5.090 | &nbsp;&nbsp;10/15/31 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030972 |
| Huntington Bank Auto Credit-Linked Notes, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01, Class D, 144A, 30 Day Average SOFR + 5.250% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;9.168(c) | &nbsp;&nbsp;05/20/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722108 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-02, Class D, 144A, 30 Day Average SOFR + 4.000% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.918(c) | &nbsp;&nbsp;10/20/32 |  | &nbsp;&nbsp;1001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012543 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01, Class C, 144A, 30 Day Average SOFR + 2.250% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;6.168(c) | &nbsp;&nbsp;03/21/33 |  | &nbsp;&nbsp;2797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2801669 |
| Merchants Fleet Funding LLC,<br> Series 2025-01A, Class D, 144A | &nbsp;&nbsp;5.760 | &nbsp;&nbsp;01/20/39 |  | &nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6619696 |
| OneMain Direct Auto Receivables Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-01A, Class C, 144A | &nbsp;&nbsp;1.420 | &nbsp;&nbsp;07/14/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898839 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-01A, Class D, 144A | &nbsp;&nbsp;5.900 | &nbsp;&nbsp;12/16/30 |  | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103934 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class D, 144A | &nbsp;&nbsp;7.070 | &nbsp;&nbsp;02/14/33 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035046 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01A, Class D, 144A | &nbsp;&nbsp;6.100 | &nbsp;&nbsp;07/14/37 |  | &nbsp;&nbsp;8359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8572949 |
| Santander Bank Auto Credit-Linked Notes,<br> Series 2023-A, Class E, 144A | 10.068 | &nbsp;&nbsp;06/15/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3503 |
| Santander Drive Auto Receivables Trust,<br> Series 2025-01, Class D | &nbsp;&nbsp;5.430 | &nbsp;&nbsp;03/17/31 |  | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3046779 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32455987 |
| **Collateralized Loan Obligations 36.2%** | **Collateralized Loan Obligations 36.2%** | **Collateralized Loan Obligations 36.2%** | **Collateralized Loan Obligations 36.2%** | **Collateralized Loan Obligations 36.2%** | **Collateralized Loan Obligations 36.2%** |
| AlbaCore Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 02A, Class B, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | &nbsp;&nbsp;3.750(c) | &nbsp;&nbsp;06/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6332338 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 04A, Class BR, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | &nbsp;&nbsp;3.909(c) | &nbsp;&nbsp;07/15/35 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4701533 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 06A, Class CR, 144A, 3 Month EURIBOR + 2.400% (Cap N/A, Floor 2.400%) | &nbsp;&nbsp;4.409(c) | &nbsp;&nbsp;10/15/37 | &nbsp;&nbsp;EUR | 11950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14111097 |
| Anchorage Capital CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-07A, Class BR3, 144A, 3 Month SOFR + 2.050% (Cap N/A, Floor 2.050%) | &nbsp;&nbsp;5.909(c) | &nbsp;&nbsp;04/28/37 |  | &nbsp;&nbsp;3124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3138232 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-11A, Class BR2, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.950%) | &nbsp;&nbsp;5.807(c) | &nbsp;&nbsp;07/22/37 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008675 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-26A, Class BR, 144A, 3 Month SOFR + 2.050% (Cap N/A, Floor 2.050%) | &nbsp;&nbsp;5.934(c) | &nbsp;&nbsp;03/19/38 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10042986 |
| Anchorage Capital Europe CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 06A, Class BRR, 144A, 3 Month EURIBOR + 1.950% (Cap N/A, Floor 1.950%) | &nbsp;&nbsp;3.987(c) | &nbsp;&nbsp;10/22/38 | &nbsp;&nbsp;EUR | 14750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17344807 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 08A, Class B1R, 144A, 3 Month EURIBOR + 2.100% (Cap N/A, Floor 2.100%) | &nbsp;&nbsp;4.165(c) | &nbsp;&nbsp;10/25/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5882305 |
| Ares CLO Ltd. (Cayman Islands),<br> Series 2016-41A, Class BR, 144A, 3 Month SOFR + 1.712% (Cap N/A, Floor 1.450%) | &nbsp;&nbsp;5.616(c) | &nbsp;&nbsp;04/15/34 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001450 |
| Armada Euro CLO DAC (Ireland),<br> Series 07A, Class B, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | &nbsp;&nbsp;3.709(c) | &nbsp;&nbsp;04/15/39 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5880464 |
| Atlas Senior Loan Fund Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-11A, Class A1L, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;5.220(c) | &nbsp;&nbsp;07/26/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-15A, Class A2R, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | &nbsp;&nbsp;5.610(c) | &nbsp;&nbsp;10/23/32 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4007620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-24A, Class B, 144A, 3 Month SOFR + 1.900% (Cap N/A, Floor 1.900%) | &nbsp;&nbsp;5.784(c) | &nbsp;&nbsp;01/20/38 |  | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8019173 |
| Atlas Static Senior Loan Fund Ltd. (Cayman Islands),<br> Series 2022-01A, Class BR, 144A, 3 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | &nbsp;&nbsp;6.555(c) | &nbsp;&nbsp;07/15/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455884 |
| Aurium CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 08A, Class BR, 144A, 3 Month EURIBOR + 1.850% (Cap N/A, Floor 1.850%) | &nbsp;&nbsp;3.863(c) | &nbsp;&nbsp;10/16/38 | &nbsp;&nbsp;EUR | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17697544 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 08A, Class CR, 144A, 3 Month EURIBOR + 2.150% (Cap N/A, Floor 2.150%) | &nbsp;&nbsp;4.163(c) | &nbsp;&nbsp;10/16/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5679928 |
| Avoca Capital CLO Ltd. (Ireland),<br> Series 10A, Class B1RR, 144A, 3 Month EURIBOR + 1.350% (Cap N/A, Floor 1.350%) | &nbsp;&nbsp;3.376(c) | &nbsp;&nbsp;04/15/35 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877033 |
| Bain Capital Credit CLO Ltd. (United Kingdom),<br> Series 2022-04A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | &nbsp;&nbsp;5.644(c) | &nbsp;&nbsp;10/16/37 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5015834 |

---

PGIM Securitized Credit Fund

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| Bain Capital Credit CLO Ltd. (United Kingdom),<br> Series 2022-04A, Class A1R, 144A, 3 Month SOFR + 1.380% (Cap N/A, Floor 1.380%) | 5.274 %(c) | &nbsp;&nbsp;10/16/37 |  | &nbsp;&nbsp;8500 | &nbsp;&nbsp; $8530076 |
| Bain Capital Euro CLO DAC (Ireland),<br> Series 2018-02A, Class AR, 144A, 3 Month EURIBOR + 0.740% (Cap N/A, Floor 0.740%) | 2.744(c) | &nbsp;&nbsp;01/20/32 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412244 |
| Balboa Bay Loan Funding Ltd. (Cayman Islands),<br> Series 2024-02A, Class B, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | 5.584(c) | &nbsp;&nbsp;01/20/38 |  | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9030519 |
| Barings Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-01A, Class B1RR, 144A, 3 Month EURIBOR + 1.800% (Cap N/A, Floor 1.800%) | 3.865(c) | &nbsp;&nbsp;07/25/35 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2349479 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-01A, Class A, 144A, 3 Month EURIBOR + 0.800% (Cap N/A, Floor 0.800%) | 2.866(c) | &nbsp;&nbsp;04/24/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2571846 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-02A, Class B1, 144A, 3 Month EURIBOR + 1.750% (Cap N/A, Floor 1.750%) | 3.776(c) | &nbsp;&nbsp;10/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4634206 |
| Barrow Hanley CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class BR, 144A, 3 Month SOFR + 1.740% (Cap N/A, Floor 1.740%) | 5.624(c) | &nbsp;&nbsp;01/20/38 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10032249 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-03A, Class D, 144A, 3 Month SOFR + 4.150% (Cap N/A, Floor 4.150%) | 8.034(c) | &nbsp;&nbsp;04/20/37 |  | &nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256245 |
| Bastille Euro CLO DAC (Ireland),<br> Series 2020-03A, Class A2AR, 144A, 3 Month EURIBOR + 2.150% (Cap N/A, Floor 2.150%) | 4.159(c) | &nbsp;&nbsp;01/15/39 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;7750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9164759 |
| Battalion CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-17A, Class A1R, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) | 5.184(c) | &nbsp;&nbsp;03/09/34 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000973 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-23A, Class A1R, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) | 5.325(c) | &nbsp;&nbsp;10/15/37 |  | &nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5520086 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-29A, Class B, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 6.081(c) | &nbsp;&nbsp;03/31/38 |  | 12500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12514201 |
| BCRED BSL Static CLO Ltd. (Cayman Islands),<br> Series 2025-01A, Class BR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 6.141(c) | &nbsp;&nbsp;07/24/35 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10018707 |
| Canyon Capital CLO Ltd. (Cayman Islands),<br> Series 2019-01A, Class BRR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.705(c) | &nbsp;&nbsp;07/15/37 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005914 |
| Canyon Euro CLO DAC (Ireland),<br> Series 2025-01A, Class B, 144A, 3 Month EURIBOR + 1.800% (Cap N/A, Floor 1.800%) | 3.809(c) | &nbsp;&nbsp;04/15/38 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11791565 |
| Capital Four CLO DAC (Ireland),<br> Series 10A, Class D, 144A, 3 Month EURIBOR + 3.100% (Cap N/A, Floor 3.100%) | 5.129(c) | &nbsp;&nbsp;10/25/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10490120 |
| Carlyle Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-01A, Class A2AR, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.709(c) | &nbsp;&nbsp;07/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6026531 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-02A, Class A2A, 144A, 3 Month EURIBOR + 1.750% (Cap N/A, Floor 1.750%) | 3.759(c) | &nbsp;&nbsp;10/15/35 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588313 |
| Carlyle Global Market Strategies Euro CLO Ltd. (Ireland),<br> Series 2014-02A, Class AR1, 144A, 3 Month EURIBOR + 0.750% (Cap N/A, Floor 0.750%) | 2.814(c) | &nbsp;&nbsp;11/15/31 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158790 |
| Carlyle US CLO Ltd. (Cayman Islands),<br> Series 2024-03A, Class A2, 144A, 3 Month SOFR + 1.720% (Cap N/A, Floor 1.720%) | 5.578(c) | &nbsp;&nbsp;07/25/36 |  | &nbsp;&nbsp;9750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9778504 |
| CarVal CLO Ltd. (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class A1R, 144A, 3 Month SOFR + 1.440% (Cap N/A, Floor 1.440%) | 5.324(c) | &nbsp;&nbsp;07/20/37 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4010008 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-03A, Class A1, 144A, 3 Month SOFR + 1.390% (Cap N/A, Floor 1.390%) | 5.274(c) | &nbsp;&nbsp;10/20/37 |  | &nbsp;&nbsp;8250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8278797 |
| Carysfort Park CLO DAC (Ireland),<br> Series 2021-01A, Class A2, 144A, 3 Month EURIBOR + 1.250% (Cap N/A, Floor 1.250%) | 3.315(c) | &nbsp;&nbsp;07/28/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2332541 |
| CBAM Ltd. (Cayman Islands),<br> Series 2018-07A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | 5.246(c) | &nbsp;&nbsp;07/20/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109031 |
| CBAMR Ltd. (Cayman Islands),<br> Series 2018-08A, Class DR, 144A, 3 Month SOFR + 4.000% (Cap N/A, Floor 4.000%) | 7.905(c) | &nbsp;&nbsp;07/15/37 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009052 |
| CIFC Funding Ltd.,<br> Series 2017-05A, Class AR, 144A, 3 Month SOFR + 1.410% (Cap N/A, Floor 1.410%) | 5.292(c) | &nbsp;&nbsp;07/17/37 |  | &nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6724509 |
| Contego CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 05A, Class B1R, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.726(c) | &nbsp;&nbsp;10/15/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2640620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 05A, Class CR, 144A, 3 Month EURIBOR + 2.150% (Cap N/A, Floor 2.150%) | 4.176(c) | &nbsp;&nbsp;10/15/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767118 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 14A, Class C, 144A, 3 Month EURIBOR + 2.150% (Cap N/A, Floor 2.150%) | 4.264(c) | &nbsp;&nbsp;10/15/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1409711 |
| CQS US CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-01A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.634(c) | &nbsp;&nbsp;01/20/35 |  | &nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7014776 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-03A, Class B, 144A, 3 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.508(c) | &nbsp;&nbsp;01/25/37 |  | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2404630 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-03A, Class D, 144A, 3 Month SOFR + 4.200% (Cap N/A, Floor 4.200%) | 8.058(c) | &nbsp;&nbsp;01/25/37 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013106 |
| Crosthwaite Park CLO DAC (Ireland),<br> Series 01A, Class A2AR, 144A, 3 Month EURIBOR + 1.600% (Cap N/A, Floor 1.600%) | 3.700(c) | &nbsp;&nbsp;03/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1759180 |
| Elevation CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-03A, Class BR2, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.708(c) | &nbsp;&nbsp;01/25/35 |  | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000752 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-03A, Class CR2, 144A, 3 Month SOFR + 2.300% (Cap N/A, Floor 2.300%) | 6.158(c) | &nbsp;&nbsp;01/25/35 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008983 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-11A, Class BR, 144A, 3 Month SOFR + 2.000% (Cap N/A, Floor 2.000%) | 5.905(c) | &nbsp;&nbsp;10/15/37 |  | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2506637 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-12A, Class BR, 144A, 3 Month SOFR + 2.170% (Cap N/A, Floor 2.170%) | 6.054(c) | &nbsp;&nbsp;04/20/37 |  | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1503926 |

---

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| Elevation CLO Ltd. (Cayman Islands), (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-12A, Class D1AR, 144A, 3 Month SOFR + 4.300% (Cap N/A, Floor 4.300%) | 8.184 %(c) | &nbsp;&nbsp;04/20/37 |  | &nbsp;&nbsp;1500 | &nbsp;&nbsp; $1508545 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-13A, Class BR, 144A, 3 Month SOFR + 1.600% (Cap N/A, Floor 1.600%) | 5.505(c) | &nbsp;&nbsp;07/15/34 |  | 13950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13966137 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-14A, Class BR, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | 5.584(c) | &nbsp;&nbsp;01/20/38 |  | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6017439 |
| Elmwood CLO Ltd. (Cayman Islands),<br> Series 2025-05A, Class A, 144A, 3 Month SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.634(c) | &nbsp;&nbsp;03/31/38 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10034701 |
| Empower CLO Ltd. (Cayman Islands),<br> Series 2023-02A, Class D1R, 144A, 3 Month SOFR + 2.800% (Cap N/A, Floor 2.800%) | 6.705(c) | &nbsp;&nbsp;10/15/38 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000197 |
| Gallatin CLO Ltd. (Bermuda), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class BR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 6.962(c) | &nbsp;&nbsp;10/14/36 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10032057 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01A, Class B, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.950%) | 5.834(c) | &nbsp;&nbsp;10/20/37 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5014890 |
| Golub Capital Partners CLO Ltd.,<br> Series 2022-62A, Class AR, 144A, 3 Month SOFR + 1.370% (Cap N/A, Floor 1.370%) | 5.275(c) | &nbsp;&nbsp;10/15/37 |  | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8027917 |
| Grosvenor Place CLO DAC (Ireland),<br> Series 2025-03A, Class B, 144A, 3 Month EURIBOR + 2.200% (Cap N/A, Floor 2.200%) | 4.236(c) | &nbsp;&nbsp;08/15/39 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11778934 |
| Hayfin Emerald CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 02A, Class B1R, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.766(c) | &nbsp;&nbsp;05/27/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882074 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 10A, Class B1RR, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 2.000%) | 3.991(c) | &nbsp;&nbsp;10/18/39 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11789718 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 14A, Class B, 144A, 3 Month EURIBOR + 2.200% (Cap N/A, Floor 2.200%) | 4.215(c) | &nbsp;&nbsp;01/22/39 | &nbsp;&nbsp;EUR | 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12936895 |
| Hayfin US Ltd. (Cayman Islands),<br> Series 2024-15A, Class B, 144A, 3 Month SOFR + 2.200% (Cap N/A, Floor 2.200%) | 6.059(c) | &nbsp;&nbsp;04/28/37 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5015595 |
| Henley CLO DAC (Ireland),<br> Series 11A, Class B, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | 3.715(c) | &nbsp;&nbsp;04/25/39 | &nbsp;&nbsp;EUR | 12250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14418541 |
| ICG Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-01A, Class B1, 144A, 3 Month EURIBOR + 1.800% (Cap N/A, Floor 1.800%) | 3.809(c) | &nbsp;&nbsp;10/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764306 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class BR, 144A, 3 Month EURIBOR + 1.750% (Cap N/A, Floor 1.750%) | 3.754(c) | &nbsp;&nbsp;10/19/38 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11719535 |
| ICG US CLO Ltd. (Cayman Islands),<br> Series 2021-03A, Class B1R, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.634(c) | &nbsp;&nbsp;10/20/34 |  | &nbsp;&nbsp;2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2751063 |
| Indigo Credit Management DAC (Ireland),<br> Series 02A, Class C, 144A, 3 Month EURIBOR + 2.650% (Cap N/A, Floor 2.650%) | 4.659(c) | &nbsp;&nbsp;07/15/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6188913 |
| Invesco Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 04A, Class B1, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.709(c) | &nbsp;&nbsp;04/15/33 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2350457 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 06A, Class B1, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | 3.659(c) | &nbsp;&nbsp;07/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3817226 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 14A, Class B1, 144A, 3 Month EURIBOR + 2.200% (Cap N/A, Floor 2.200%) | 4.209(c) | &nbsp;&nbsp;01/15/39 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5896497 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 16A, Class B, 144A, 3 Month EURIBOR + 2.100% (Cap N/A, Floor 2.100%) | 4.218(c) | &nbsp;&nbsp;10/15/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9465225 |
| Jamestown CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-15A, Class A1R, 144A, 3 Month SOFR + 1.370% (Cap N/A, Floor 1.370%) | 5.275(c) | &nbsp;&nbsp;07/15/35 |  | &nbsp;&nbsp;6250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6254632 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-18A, Class DR, 144A, 3 Month SOFR + 3.750% (Cap N/A, Floor 3.750%) | 7.608(c) | &nbsp;&nbsp;07/25/35 |  | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000438 |
| Jubilee CLO DAC (Ireland),<br> Series 2016-17A, Class B1RR, 144A, 3 Month EURIBOR + 1.280% (Cap N/A, Floor 1.280%) | 3.289(c) | &nbsp;&nbsp;04/15/31 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585773 |
| KKR CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 32A, Class BR, 144A, 3 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 6.005(c) | &nbsp;&nbsp;04/15/37 |  | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3010815 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 49A, Class AR, 144A, 3 Month SOFR + 1.380% (Cap N/A, Floor 1.380%) | 5.264(c) | &nbsp;&nbsp;10/20/37 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5018820 |
| Madison Park Funding Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-34A, Class A1RR, 144A, 3 Month SOFR + 1.370% (Cap N/A, Floor 1.370%) | 5.264(c) | &nbsp;&nbsp;10/16/37 |  | 11500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11539776 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-39A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.607(c) | &nbsp;&nbsp;10/22/34 |  | &nbsp;&nbsp;4750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4752380 |
| Marathon CLO Ltd. (Cayman Islands),<br> Series 2020-15A, Class A1B, 144A, 3 Month SOFR + 1.450% (Cap N/A, Floor 1.450%) | 5.302(c) | &nbsp;&nbsp;08/15/37 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5016945 |
| Marble Point CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-02A, Class BR2, 144A, 3 Month SOFR + 1.650% (Cap N/A, Floor 1.650%) | 5.555(c) | &nbsp;&nbsp;03/15/38 |  | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15038386 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-03A, Class A1, 144A, 3 Month SOFR + 1.502% (Cap N/A, Floor 1.240%) | 5.383(c) | &nbsp;&nbsp;10/17/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500320 |
| Menlo CLO Ltd. (Cayman Islands),<br> Series 2024-01A, Class A1, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) | 5.304(c) | &nbsp;&nbsp;01/20/38 |  | &nbsp;&nbsp;7250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7279235 |
| MidOcean Credit CLO (Cayman Islands),<br> Series 2014-03A, Class BR, 144A, 3 Month SOFR + 2.062% (Cap N/A, Floor 1.800%) | 5.932(c) | &nbsp;&nbsp;04/21/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32026 |
| Monument CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 01A, Class D, 144A, 3 Month EURIBOR + 4.350% (Cap N/A, Floor 4.350%) | 6.414(c) | &nbsp;&nbsp;05/15/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3539425 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 03A, Class B, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.889(c) | &nbsp;&nbsp;04/15/38 | &nbsp;&nbsp;EUR | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17669274 |
| Mountain View CLO Ltd. (Cayman Islands),<br> Series 2015-09A, Class A2R, 144A, 3 Month SOFR + 2.042% (Cap N/A, Floor 0.000%) | 5.946(c) | &nbsp;&nbsp;07/15/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750197 |

---

PGIM Securitized Credit Fund

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| Nassau Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 02A, Class BR, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.965 %(c) | &nbsp;&nbsp;04/25/39 | &nbsp;&nbsp;EUR | 15000 | &nbsp;&nbsp; $17594401 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 04A, Class D, 144A, 3 Month EURIBOR + 3.950% (Cap N/A, Floor 3.950%) | 5.954(c) | &nbsp;&nbsp;07/20/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2351942 |
| Nassau Ltd. (Cayman Islands),<br> Series 2021-IA, Class B1R, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | 5.605(c) | &nbsp;&nbsp;08/26/34 |  | 14950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14976970 |
| Neuberger Berman Loan Advisers CLO Ltd.,<br> Series 2017-26A, Class BR2, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.634(c) | &nbsp;&nbsp;10/18/38 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5018854 |
| NGC Ltd. (United Kingdom),<br> Series 2024-01A, Class B, 144A, 3 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 5.984(c) | &nbsp;&nbsp;07/20/37 |  | &nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3503101 |
| Northwoods Capital Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-22A, Class BRR, 144A, 3 Month SOFR + 2.450% (Cap N/A, Floor 2.450%) | 6.156(c) | &nbsp;&nbsp;09/16/31 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003501 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-22A, Class DRR, 144A, 3 Month SOFR + 4.950% (Cap N/A, Floor 4.950%) | 8.656(c) | &nbsp;&nbsp;09/16/31 |  | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1503639 |
| Oaktree CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-04A, Class BRR, 144A, 3 Month SOFR + 1.920% (Cap N/A, Floor 1.920%) | 5.804(c) | &nbsp;&nbsp;07/20/37 |  | &nbsp;&nbsp;3750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3760523 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-03A, Class A1R, 144A, 3 Month SOFR + 1.380% (Cap N/A, Floor 1.380%) | 5.285(c) | &nbsp;&nbsp;10/15/37 |  | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8029800 |
| Ocean Trails CLO Ltd. (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-15A, Class B, 144A, 3 Month SOFR + 2.500% (Cap N/A, Floor 2.500%) | 6.405(c) | &nbsp;&nbsp;01/15/37 |  | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001742 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-15A, Class D1, 144A, 3 Month SOFR + 4.700% (Cap N/A, Floor 4.700%) | 8.605(c) | &nbsp;&nbsp;01/15/37 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001212 |
| Octagon Ltd. (Cayman Islands),<br> Series 2022-01A, Class B, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.950%) | 5.802(c) | &nbsp;&nbsp;05/15/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601054 |
| OFSI BSL CLO Ltd. (Cayman Islands),<br> Series 2024-13A, Class D1, 144A, 3 Month SOFR + 4.500% (Cap N/A, Floor 4.500%) | 8.384(c) | &nbsp;&nbsp;04/20/37 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006260 |
| OFSI BSL Ltd. (Cayman Islands),<br> Series 2023-12A, Class BR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.684(c) | &nbsp;&nbsp;01/20/38 |  | 12950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12956026 |
| Palmer Square European CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-02A, Class BRR, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 2.000%) | 4.009(c) | &nbsp;&nbsp;01/15/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9424815 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01A, Class B1, 144A, 3 Month EURIBOR + 1.850% (Cap N/A, Floor 1.850%) | 3.859(c) | &nbsp;&nbsp;10/15/39 | &nbsp;&nbsp;EUR | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17691397 |
| Penta CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2017-03A, Class BRR, 144A, 3 Month EURIBOR + 1.800% (Cap N/A, Floor 1.800%) | 3.816(c) | &nbsp;&nbsp;10/17/38 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11768978 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-14A, Class BR, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.904(c) | &nbsp;&nbsp;10/20/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4121180 |
| Polen Capital CLO Ltd. (Cayman Islands),<br> Series 2025-01A, Class B, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | 5.584(c) | &nbsp;&nbsp;03/06/38 |  | &nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7019496 |
| PPM CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-04A, Class D1R2, 144A, 3 Month SOFR + 3.350% (Cap N/A, Floor 3.350%) | 7.234(c) | &nbsp;&nbsp;03/18/38 |  | &nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8804545 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-06RA, Class A2R, 144A, 3 Month SOFR + 2.150% (Cap N/A, Floor 2.150%) | 6.034(c) | &nbsp;&nbsp;01/20/37 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020229 |
| Providus CLO DAC (Ireland),<br> Series 05A, Class CR, 144A, 3 Month EURIBOR + 2.100% (Cap N/A, Floor 2.100%) | 4.184(c) | &nbsp;&nbsp;11/15/39 | &nbsp;&nbsp;EUR | 12250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14395639 |
| Regatta Funding Ltd. (Cayman Islands),<br> Series 2019-02A, Class BR, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | 5.605(c) | &nbsp;&nbsp;01/15/33 |  | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3005246 |
| Rockford Tower CLO Ltd. (Cayman Islands),<br> Series 2021-03A, Class BR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.755(c) | &nbsp;&nbsp;01/15/38 |  | &nbsp;&nbsp;5325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340696 |
| Rockford Tower Europe CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class B1R, 144A, 3 Month EURIBOR + 2.100% (Cap N/A, Floor 2.100%) | 4.104(c) | &nbsp;&nbsp;01/20/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6125438 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-01A, Class B1, 144A, 3 Month EURIBOR + 1.250% (Cap N/A, Floor 1.250%) | 3.254(c) | &nbsp;&nbsp;04/20/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2338525 |
| RR Ltd. (Bermuda),<br> Series 2025-40A, Class A2, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 6.097(c) | &nbsp;&nbsp;07/15/38 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10048164 |
| Saratoga Investment Corp. CLO Ltd. (Cayman Islands),<br> Series 2013-01A, Class A1R4, 144A, 3 Month SOFR + 1.300% (Cap N/A, Floor 1.300%) | 5.184(c) | &nbsp;&nbsp;04/20/33 |  | &nbsp;&nbsp;1565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1565444 |
| Sculptor European CLO DAC (Ireland),<br> Series 07A, Class BR, 144A, 3 Month EURIBOR + 2.050% (Cap N/A, Floor 2.050%) | 4.059(c) | &nbsp;&nbsp;01/15/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9439193 |
| Signal Harmonic CLO DAC (Ireland),<br> Series 01A, Class BR, 144A, 3 Month EURIBOR + 2.050% (Cap N/A, Floor 2.050%) | 3.969(c) | &nbsp;&nbsp;07/15/38 | &nbsp;&nbsp;EUR | 11500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13524787 |
| Signal Peak CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class A1R, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) | 5.304(c) | &nbsp;&nbsp;10/20/37 |  | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6021918 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-09A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.620(c) | &nbsp;&nbsp;01/21/38 |  | 10415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10422908 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-11A, Class A1, 144A, 3 Month SOFR + 1.450% (Cap N/A, Floor 1.450%) | 5.334(c) | &nbsp;&nbsp;07/18/37 |  | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15052410 |
| Signal Peak CLO Ltd. (United Kingdom),<br> Series 2022-12A, Class BR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.684(c) | &nbsp;&nbsp;07/18/37 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002792 |
| Silver Rock CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01A, Class A1RR, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) | 5.304(c) | &nbsp;&nbsp;10/20/37 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2007162 |

---

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| Silver Rock CLO Ltd. (Cayman Islands), (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01A, Class BRR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.734 %(c) | &nbsp;&nbsp;10/20/37 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp; $2005967 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01A, Class CRR, 144A, 3 Month SOFR + 2.500% (Cap N/A, Floor 2.500%) | 6.384(c) | &nbsp;&nbsp;10/20/37 |  | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6033931 |
| Sixth Street CLO Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-15A, Class AR, 144A, 3 Month SOFR + 1.370% (Cap N/A, Floor 1.370%) | 5.235(c) | &nbsp;&nbsp;10/24/37 |  | &nbsp;&nbsp;6760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6783602 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-16A, Class A1R, 144A, 3 Month SOFR + 1.790% (Cap N/A, Floor 1.790%) | 5.674(c) | &nbsp;&nbsp;01/20/37 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001704 |
| Sona Fios CLO DAC (Ireland),<br> Series 04A, Class B, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.904(c) | &nbsp;&nbsp;04/20/38 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11754755 |
| Sound Point CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-01A, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.332%) | 5.190(c) | &nbsp;&nbsp;01/26/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53428 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01A, Class BR, 144A, 3 Month SOFR + 1.912% (Cap N/A, Floor 1.912%) | 5.796(c) | &nbsp;&nbsp;07/20/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990012 |
| St. Pauls CLO (Netherlands),<br> Series 11A, Class C2R, 144A | 2.500 | &nbsp;&nbsp;01/17/32 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;831536 |
| TCW CLO AMR Ltd. (Cayman Islands),<br> Series 2019-01A, Class BR, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.750%) | 5.802(c) | &nbsp;&nbsp;08/16/34 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5008095 |
| TCW CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-02A, Class BR2, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.634(c) | &nbsp;&nbsp;01/20/38 |  | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15045420 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class A1R, 144A, 3 Month SOFR + 1.380% (Cap N/A, Floor 1.380%) | 5.245(c) | &nbsp;&nbsp;03/31/38 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4014448 |
| Tikehau CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 09A, Class CR, 144A, 3 Month EURIBOR + 2.450% (Cap N/A, Floor 2.450%) | 4.454(c) | &nbsp;&nbsp;01/20/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4702483 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 11A, Class BR, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 2.000%) | 4.009(c) | &nbsp;&nbsp;01/15/38 | &nbsp;&nbsp;EUR | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17676045 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 13A, Class B, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | 3.709(c) | &nbsp;&nbsp;10/15/38 | &nbsp;&nbsp;EUR | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17611983 |
| Tikehau US CLO Ltd. (Bermuda), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-01A, Class BR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.684(c) | &nbsp;&nbsp;01/20/38 |  | &nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4614545 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01A, Class B, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.734(c) | &nbsp;&nbsp;07/18/37 |  | &nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4112089 |
| Toro European CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 02A, Class B1RR, 144A, 3 Month EURIBOR + 1.850% (Cap N/A, Floor 1.850%) | 3.915(c) | &nbsp;&nbsp;07/25/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3528703 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 08A, Class BR, 144A, 3 Month EURIBOR + 2.050% (Cap N/A, Floor 2.050%) | 4.076(c) | &nbsp;&nbsp;04/15/35 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2353515 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 10A, Class B, 144A, 3 Month EURIBOR + 1.850% (Cap N/A, Floor 1.850%) | 3.876(c) | &nbsp;&nbsp;04/15/38 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11755490 |
| Trimaran CAVU Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-01A, Class AR, 144A, 3 Month SOFR + 1.400% (Cap N/A, Floor 1.400%) | 5.257(c) | &nbsp;&nbsp;10/22/37 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5017552 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-01A, Class BR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 5.707(c) | &nbsp;&nbsp;10/22/37 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001579 |
| Trinitas CLO Ltd. (Bermuda),<br> Series 2024-24A, Class B, 144A, 3 Month SOFR + 2.300% (Cap N/A, Floor 2.300%) | 6.158(c) | &nbsp;&nbsp;04/25/37 |  | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2502820 |
| Venture CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-19A, Class ARR, 144A, 3 Month SOFR + 1.522% (Cap N/A, Floor 1.260%) | 5.426(c) | &nbsp;&nbsp;01/15/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614192 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-49A, Class AJ, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 5.684(c) | &nbsp;&nbsp;04/20/37 |  | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;802701 |
| Wellfleet CLO Ltd. (Cayman Islands),<br> Series 2022-02A, Class D1R, 144A, 3 Month SOFR + 3.650% (Cap N/A, Floor 3.650%) | 7.534(c) | &nbsp;&nbsp;10/18/37 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5012163 |
| Wind River CLO Ltd. (Cayman Islands),<br> Series 2021-03A, Class BR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | 5.634(c) | &nbsp;&nbsp;04/20/38 |  | 10350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10375675 |
| Z Capital Credit Partners BSL CLO Ltd. (Cayman Islands),<br> Series 2024-01A, Class C, 144A, 3 Month SOFR + 3.650% (Cap N/A, Floor 3.650%) | 7.544(c) | &nbsp;&nbsp;04/16/36 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013304 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913614610 |
| **Consumer Loans 3.0%** | **Consumer Loans 3.0%** | **Consumer Loans 3.0%** | **Consumer Loans 3.0%** | **Consumer Loans 3.0%** | **Consumer Loans 3.0%** |
| Affirm Asset Securitization Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class 1D, 144A | 6.890 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002121 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class 1E, 144A | 9.170 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902518 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-B, Class D, 144A | 5.500 | &nbsp;&nbsp;09/15/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501471 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-X02, Class D, 144A | 6.080 | &nbsp;&nbsp;12/17/29 |  | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5244519 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-X01, Class D, 144A | 6.110 | &nbsp;&nbsp;04/15/30 |  | 10400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10492667 |
| Affirm Master Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01A, Class E, 144A | 7.180 | &nbsp;&nbsp;02/15/33 |  | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6044837 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02A, Class D, 144A | 5.600 | &nbsp;&nbsp;07/15/33 |  | &nbsp;&nbsp;5700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5739344 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-03A, Class E, 144A | 6.800 | &nbsp;&nbsp;10/16/34 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4995987 |
| Cherry Securitization Trust,<br> Series 2025-01A, Class A, 144A | 6.130 | &nbsp;&nbsp;11/15/32 |  | 10300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10456877 |

---

PGIM Securitized Credit Fund

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Consumer Loans (cont'd.)** | **Consumer Loans (cont'd.)** | **Consumer Loans (cont'd.)** | **Consumer Loans (cont'd.)** | **Consumer Loans (cont'd.)** |
| GreenSky Home Improvement Issuer Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02A, Class C, 144A | 5.260% | &nbsp;&nbsp;06/25/60 | &nbsp;&nbsp;4500 | &nbsp;&nbsp; $4538376 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-03A, Class E, 144A | 7.830 | &nbsp;&nbsp;12/27/60 | &nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6406480 |
| GreenSky Home Improvement Trust,<br> Series 2024-01, Class A2, 144A | 5.880 | &nbsp;&nbsp;06/25/59 | &nbsp;&nbsp;&nbsp;&nbsp;824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827953 |
| Island Finance Trust,<br> Series 2025-01A, Class A, 144A | 6.540 | &nbsp;&nbsp;03/19/35 | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024020 |
| Onemain Financial Issuance Trust,<br> Series 2025-01A, Class D, 144A | 5.790 | &nbsp;&nbsp;07/14/38 | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1821330 |
| OneMain Financial Issuance Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-02A, Class D, 144A | 6.550 | &nbsp;&nbsp;10/14/34 | &nbsp;&nbsp;1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185824 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class C, 144A | 6.380 | &nbsp;&nbsp;06/14/38 | &nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7803287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-02A, Class D, 144A | 7.520 | &nbsp;&nbsp;09/15/36 | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590041 |
| Stream Innovations Issuer Trust,<br> Series 2025-01A, Class B, 144A | 5.480 | &nbsp;&nbsp;09/15/45 | &nbsp;&nbsp;3178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3211409 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75789061 |
| **Credit Cards 0.4%** | **Credit Cards 0.4%** | **Credit Cards 0.4%** | **Credit Cards 0.4%** | **Credit Cards 0.4%** |
| Evergreen Credit Card Trust (Canada),<br> Series 2024-CRT04, Class C, 144A | 5.640 | &nbsp;&nbsp;10/15/28 | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5036153 |
| Genesis Sales Finance Master Trust,<br> Series 2024-B, Class B, 144A | 6.260 | &nbsp;&nbsp;12/20/32 | &nbsp;&nbsp;5667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5742692 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10778845 |
| **Equipment 0.9%** | **Equipment 0.9%** | **Equipment 0.9%** | **Equipment 0.9%** | **Equipment 0.9%** |
| Auxilior Term Funding LLC,<br> Series 2023-01A, Class D, 144A | 7.270 | &nbsp;&nbsp;12/16/30 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518234 |
| Lmdv Issuer Co. LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01A, Class B, 144A | 5.900 | &nbsp;&nbsp;12/15/55 | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3617055 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01A, Class C, 144A | 7.880 | &nbsp;&nbsp;12/15/55 | &nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4499550 |
| MetroNet Infrastructure Issuer LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02A, Class C, 144A | 7.830 | &nbsp;&nbsp;08/20/55 | &nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7707715 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-04A, Class C, 144A | 7.112 | &nbsp;&nbsp;12/20/55 | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5033288 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21375842 |
| **Home Equity Loans 7.8%** | **Home Equity Loans 7.8%** | **Home Equity Loans 7.8%** | **Home Equity Loans 7.8%** | **Home Equity Loans 7.8%** |
| BRAVO Residential Funding Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES02, Class A2, 144A | 5.592(cc) | &nbsp;&nbsp;09/25/54 | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2414845 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES02, Class A1, 144A | 4.960(cc) | &nbsp;&nbsp;07/26/55 | &nbsp;&nbsp;4739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4733382 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES03, Class A2, 144A | 5.292(cc) | &nbsp;&nbsp;12/25/55 | &nbsp;&nbsp;3828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3823328 |
| COOPR Residential Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES02, Class M1, 144A | 6.130(cc) | &nbsp;&nbsp;06/25/60 | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3034343 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES03, Class A1A, 144A | 4.840(cc) | &nbsp;&nbsp;09/25/60 | &nbsp;&nbsp;3594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3584183 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES03, Class A3, 144A | 5.229(cc) | &nbsp;&nbsp;09/25/60 | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495594 |
| EFMT, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES01, Class A2, 144A | 5.796(cc) | &nbsp;&nbsp;01/26/60 | &nbsp;&nbsp;4685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4742865 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class A1A, 144A | 5.726(cc) | &nbsp;&nbsp;01/25/60 | &nbsp;&nbsp;5488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5548887 |
| FIGRE Trust,<br> Series 2025-HE04, Class A, 144A | 5.408(cc) | &nbsp;&nbsp;07/25/55 | &nbsp;&nbsp;8146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8207277 |
| GS Mortgage Backed Securities Trust,<br> Series 2025-CES01, Class A1A, 144A | 5.568(cc) | &nbsp;&nbsp;05/25/55 | 13616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13720197 |
| GS Mortgage-Backed Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE01, Class A1, 144A, 30 Day Average SOFR + 1.600% (Cap N/A, Floor 1.600%) | 5.474(c) | &nbsp;&nbsp;08/25/54 | &nbsp;&nbsp;3666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3673591 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE02, Class A1, 144A, 30 Day Average SOFR + 1.500% (Cap N/A, Floor 1.500%) | 5.374(c) | &nbsp;&nbsp;01/25/55 | &nbsp;&nbsp;3995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000873 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE02, Class M1, 144A, 30 Day Average SOFR + 2.000% (Cap N/A, Floor 2.000%) | 5.874(c) | &nbsp;&nbsp;01/25/55 | &nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3611552 |
| JPMorgan Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-HE03, Class M1, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | 6.018(c) | &nbsp;&nbsp;05/20/54 | &nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628731 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-HE02, Class M1, 144A, 30 Day Average SOFR + 1.700% (Cap N/A, Floor 0.000%) | 5.618(c) | &nbsp;&nbsp;10/20/54 | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804015 |

---

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Home Equity Loans (cont'd.)** | **Home Equity Loans (cont'd.)** | **Home Equity Loans (cont'd.)** | **Home Equity Loans (cont'd.)** | **Home Equity Loans (cont'd.)** |
| JPMorgan Mortgage Trust, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class A1, 144A | 5.666 %(cc) | &nbsp;&nbsp;05/25/55 | &nbsp;&nbsp;5170 | &nbsp;&nbsp; $5214577 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES05, Class A3, 144A | 5.548(cc) | &nbsp;&nbsp;02/25/56 | &nbsp;&nbsp;3023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3027161 |
| NLT Trust,<br> Series 2025-CES01, Class A1, 144A | 5.038(cc) | &nbsp;&nbsp;08/25/60 | &nbsp;&nbsp;3998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4006646 |
| RCKT Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES03, Class A1A, 144A | 6.591(cc) | &nbsp;&nbsp;05/25/44 | &nbsp;&nbsp;1838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES04, Class A1A, 144A | 6.147(cc) | &nbsp;&nbsp;06/25/44 | &nbsp;&nbsp;2335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362875 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES08, Class A2, 144A | 5.659(cc) | &nbsp;&nbsp;11/25/44 | &nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4731615 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES08, Class A3, 144A | 5.908(cc) | &nbsp;&nbsp;11/25/44 | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912559 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES09, Class A1A, 144A | 5.582(cc) | &nbsp;&nbsp;12/25/44 | &nbsp;&nbsp;1654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1671357 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES09, Class A2, 144A | 5.830(cc) | &nbsp;&nbsp;12/25/44 | &nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6780218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class A2, 144A | 5.913(cc) | &nbsp;&nbsp;01/25/45 | &nbsp;&nbsp;8250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8359105 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES02, Class A1A, 144A | 5.503(cc) | &nbsp;&nbsp;02/25/55 | &nbsp;&nbsp;3464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3494706 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES04, Class A1A, 144A | 5.811(cc) | &nbsp;&nbsp;04/25/55 | &nbsp;&nbsp;5973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6059138 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES06, Class M1, 144A | 6.158(cc) | &nbsp;&nbsp;06/25/55 | &nbsp;&nbsp;3705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750160 |
| Towd Point Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-CES01, Class A1A, 144A | 6.750(cc) | &nbsp;&nbsp;07/25/63 | &nbsp;&nbsp;&nbsp;&nbsp;613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615300 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-CES02, Class A1A, 144A | 7.294(cc) | &nbsp;&nbsp;10/25/63 | &nbsp;&nbsp;&nbsp;&nbsp;982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993853 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES03, Class A1, 144A | 6.290(cc) | &nbsp;&nbsp;05/25/64 | &nbsp;&nbsp;2463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492386 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES03, Class M1, 144A | 6.811(cc) | &nbsp;&nbsp;05/25/64 | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118618 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES04, Class A1, 144A | 5.122(cc) | &nbsp;&nbsp;09/25/64 | &nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221903 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES05, Class A2, 144A | 5.202(cc) | &nbsp;&nbsp;09/25/64 | &nbsp;&nbsp;2289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2291085 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES05, Class M1, 144A | 5.601(cc) | &nbsp;&nbsp;09/25/64 | &nbsp;&nbsp;4855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4878346 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class A2, 144A | 5.926(cc) | &nbsp;&nbsp;02/25/55 | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9149897 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class M1, 144A | 6.076(cc) | &nbsp;&nbsp;02/25/55 | &nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6607800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class M2A, 144A | 6.574(cc) | &nbsp;&nbsp;02/25/55 | &nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4888980 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class M2B, 144A | 6.872(cc) | &nbsp;&nbsp;02/25/55 | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4073443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES02, Class A1, 144A | 5.348(cc) | &nbsp;&nbsp;07/25/65 | 19710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19834209 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES03, Class A2, 144A | 5.617(cc) | &nbsp;&nbsp;08/25/65 | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4026971 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES04, Class A1B, 144A | 5.293(cc) | &nbsp;&nbsp;10/25/65 | &nbsp;&nbsp;3371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3384904 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CRM01, Class A1, 144A | 5.799(cc) | &nbsp;&nbsp;01/25/65 | &nbsp;&nbsp;7594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7657866 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-FIX01, Class A1, 144A | 4.968(cc) | &nbsp;&nbsp;09/25/65 | &nbsp;&nbsp;4722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4722771 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197217768 |
| **Other 3.6%** | **Other 3.6%** | **Other 3.6%** | **Other 3.6%** | **Other 3.6%** |
| Capital Street Master Trust,<br> Series 2024-01, Class A, 144A, 30 Day Average SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.324(c) | &nbsp;&nbsp;10/16/28 | &nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2699992 |
| GoodLeap Home Improvement Solutions Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01A, Class A, 144A | 5.380 | &nbsp;&nbsp;02/20/49 | &nbsp;&nbsp;4913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4982063 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02A, Class A, 144A | 5.320 | &nbsp;&nbsp;06/20/49 | &nbsp;&nbsp;5643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5703143 |
| GoodLeap Sustainable Home Solutions Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-02GS, Class A, 144A | 5.700 | &nbsp;&nbsp;05/20/55 | &nbsp;&nbsp;4248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3981855 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-04C, Class A, 144A | 6.480 | &nbsp;&nbsp;03/20/57 | &nbsp;&nbsp;&nbsp;&nbsp;811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801937 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01GS, Class A, 144A | 6.250 | &nbsp;&nbsp;06/20/57 | &nbsp;&nbsp;1997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943168 |
| Invitation Homes Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR01, Class B, 144A | 4.000 | &nbsp;&nbsp;09/17/41 | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752977 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-SFR01, Class C, 144A | 4.250 | &nbsp;&nbsp;09/17/41 | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2341617 |
| Kapitus Asset Securitization V LLC,<br> Series 2025-01A, Class A, 144A | 5.460 | &nbsp;&nbsp;04/10/32 | &nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4515951 |
| OnDeck Asset Securitization IV LLC,<br> Series 2025-01A, Class A, 144A | 5.080 | &nbsp;&nbsp;04/19/32 | &nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4833728 |
| PK Alift Loan Funding 6 LP,<br> Series 2025-01, Class A, 144A | 5.365 | &nbsp;&nbsp;11/15/42 | 10512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10589930 |
| PMT Issuer Trust - FMSR,<br> Series 2024-FT01, Class A, 144A, 1 Month SOFR + 2.750% (Cap N/A, Floor 2.750%) | 6.482(c) | &nbsp;&nbsp;12/25/27 | &nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5232889 |
| Sierra Timeshare Receivables Funding LLC,<br> Series 2023-02A, Class D, 144A | 9.720 | &nbsp;&nbsp;04/20/40 | &nbsp;&nbsp;&nbsp;&nbsp;148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155848 |

---

PGIM Securitized Credit Fund

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Other (cont'd.)** | **Other (cont'd.)** | **Other (cont'd.)** | **Other (cont'd.)** | **Other (cont'd.)** | **Other (cont'd.)** |
| Sunrun Bacchus Issuer LLC,<br> Series 2025-01A, Class A1, 144A | 5.990% | &nbsp;&nbsp;04/30/60 |  | &nbsp;&nbsp;6460 | &nbsp;&nbsp; $6507319 |
| Sunrun Vesta Issuer LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-03A, Class A1, 144A | 5.490 | &nbsp;&nbsp;10/30/59 |  | &nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532451 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-03A, Class A2, 144A | 5.880 | &nbsp;&nbsp;10/30/59 |  | &nbsp;&nbsp;2074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015238 |
| Tricon Residential Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SFR01, Class B, 144A, 1 Month SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.100(c) | &nbsp;&nbsp;03/17/42 |  | &nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4403116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SFR01, Class C, 144A, 1 Month SOFR + 1.600% (Cap N/A, Floor 1.600%) | 5.350(c) | &nbsp;&nbsp;03/17/42 |  | &nbsp;&nbsp;4250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4255020 |
| U.S. Bank NA,<br> Series 2025-SUP01, Class B, 144A | 5.582 | &nbsp;&nbsp;02/25/32 |  | 12050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12082698 |
| US Bank C&I Credit-Linked Notes,<br> Series 2025-SUP02, Class C, 144A, 30 Day Average SOFR + 1.900% (Cap N/A, Floor 0.000%) | 5.774(c) | &nbsp;&nbsp;09/25/32 |  | &nbsp;&nbsp;5972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5977941 |
| Wireless PropCo Funding LLC,<br> Series 2025-01A, Class A2, 144A | 4.070 | &nbsp;&nbsp;06/25/55 |  | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5822597 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91131478 |
| **Residential Mortgage-Backed Securities 1.1%** | **Residential Mortgage-Backed Securities 1.1%** | **Residential Mortgage-Backed Securities 1.1%** | **Residential Mortgage-Backed Securities 1.1%** | **Residential Mortgage-Backed Securities 1.1%** | **Residential Mortgage-Backed Securities 1.1%** |
| PRET LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NPL02, Class A1, 144A | 5.835(cc) | &nbsp;&nbsp;03/25/55 |  | &nbsp;&nbsp;5742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5758096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NPL03, Class A1, 144A | 6.708(cc) | &nbsp;&nbsp;04/25/55 |  | 11126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11192205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NPL05, Class A1, 144A | 6.244(cc) | &nbsp;&nbsp;05/25/55 |  | &nbsp;&nbsp;6848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6885889 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NPL07, Class A1, 144A | 5.657(cc) | &nbsp;&nbsp;07/25/55 |  | &nbsp;&nbsp;3831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3841318 |
| TFS (Spain), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-03^ | 0.000(s) | &nbsp;&nbsp;04/16/40 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;—(r) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-03, Class A1, 1 Month EURIBOR + 3.250%^ | 5.127(c) | &nbsp;&nbsp;03/15/26 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120576 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27798085 |
| **Student Loans 0.0%** | **Student Loans 0.0%** | **Student Loans 0.0%** | **Student Loans 0.0%** | **Student Loans 0.0%** | **Student Loans 0.0%** |
| Bayview Opportunity Master Fund VII LLC,<br> Series 2024-EDU01, Class D, 144A, 30 Day Average SOFR + 2.750% (Cap N/A, Floor 0.000%) | 6.624(c) | &nbsp;&nbsp;06/25/47 |  | &nbsp;&nbsp;&nbsp;&nbsp;674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683934 |
| Laurel Road Prime Student Loan Trust,<br> Series 2019-A, Class R, 144A | 0.000 | &nbsp;&nbsp;10/25/48 |  | &nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311046 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994980 |
| **Total Asset-Backed Securities<br> (cost $1,337,447,214)** | **Total Asset-Backed Securities<br> (cost $1,337,447,214)** | **Total Asset-Backed Securities<br> (cost $1,337,447,214)** | **Total Asset-Backed Securities<br> (cost $1,337,447,214)** | **Total Asset-Backed Securities<br> (cost $1,337,447,214)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371156656 |
| **Commercial Mortgage-Backed Securities 21.3%** | **Commercial Mortgage-Backed Securities 21.3%** | **Commercial Mortgage-Backed Securities 21.3%** | **Commercial Mortgage-Backed Securities 21.3%** | **Commercial Mortgage-Backed Securities 21.3%** | **Commercial Mortgage-Backed Securities 21.3%** |
| 20 Times Square Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-20TS, Class F, 144A(x) | 3.100(cc) | &nbsp;&nbsp;05/15/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-20TS, Class G, 144A(x) | 3.100(cc) | &nbsp;&nbsp;05/15/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-20TS, Class H, 144A(x) | 3.100(cc) | &nbsp;&nbsp;05/15/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84250 |
| ALA Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-OANA, Class A, 144A, 1 Month SOFR + 1.743% (Cap N/A, Floor 1.743%) | 5.494(c) | &nbsp;&nbsp;06/15/40 |  | &nbsp;&nbsp;7860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7889461 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-OANA, Class C, 144A, 1 Month SOFR + 2.092% (Cap N/A, Floor 2.092%) | 5.843(c) | &nbsp;&nbsp;06/15/40 |  | &nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6516242 |
| ARES Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IND03, Class C, 144A, 1 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 5.850(c) | &nbsp;&nbsp;04/15/42 |  | &nbsp;&nbsp;3640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644529 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IND03, Class D, 144A, 1 Month SOFR + 2.550% (Cap N/A, Floor 2.550%) | 6.300(c) | &nbsp;&nbsp;04/15/42 |  | &nbsp;&nbsp;8050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8065027 |
| BANK,<br> Series 2021-BN38, Class A1 | 1.274 | &nbsp;&nbsp;12/15/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203365 |
| BANK5, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05YR03, Class XD, IO, 144A | 3.315(cc) | &nbsp;&nbsp;09/15/56 |  | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696759 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05YR04, Class XD, IO, 144A | 3.605(cc) | &nbsp;&nbsp;12/15/56 |  | &nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382774 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05YR08, Class XD, IO, 144A | 2.775(cc) | &nbsp;&nbsp;08/15/57 |  | 13643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142360 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-05YR15, Class XD, 144A | 2.513(cc) | &nbsp;&nbsp;07/15/58 |  | 16932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699263 |
| Barclays Commercial Mortgage Securities Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-ETC, Class B, 144A | 3.189 | &nbsp;&nbsp;08/14/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97440 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-ETC, Class C, 144A | 3.391 | &nbsp;&nbsp;08/14/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96395 |

---

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| Barclays Commercial Mortgage Securities Trust, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-ETC, Class E, 144A | 3.609 %(cc) | &nbsp;&nbsp;08/14/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp; $235782 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CHRS, Class B, 144A | 4.267(cc) | &nbsp;&nbsp;08/05/38 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934219 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CHRS, Class C, 144A | 4.267(cc) | &nbsp;&nbsp;08/05/38 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914432 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CHRS, Class D, 144A | 4.267(cc) | &nbsp;&nbsp;08/05/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878864 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C25, Class XD, IO, 144A | 3.139(cc) | &nbsp;&nbsp;03/15/57 | &nbsp;&nbsp;14404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214679 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C31, Class XD, IO, 144A | 2.339(cc) | &nbsp;&nbsp;12/15/57 | &nbsp;&nbsp;26275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2150848 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-C24, Class XB, IO | 1.332(cc) | &nbsp;&nbsp;02/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448738 |
| Benchmark Mortgage Trust,<br> Series 2024-V06, Class XD, IO | 3.260(cc) | &nbsp;&nbsp;03/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;8634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785045 |
| BFLD Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-VICT, Class B, 144A, 1 Month SOFR + 2.589% (Cap N/A, Floor 2.589%) | 6.339(c) | &nbsp;&nbsp;07/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3890261 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-WRHS, Class E, 144A, 1 Month SOFR + 3.689% (Cap N/A, Floor 3.689%) | 7.439(c) | &nbsp;&nbsp;07/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;5219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5228751 |
| BLP Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IND, Class D, 144A, 1 Month SOFR + 2.250% (Cap N/A, Floor 2.250%) | 6.000(c) | &nbsp;&nbsp;03/15/42 | &nbsp;&nbsp;10252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10213836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IND02, Class D, 144A, 1 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.400(c) | &nbsp;&nbsp;12/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;7675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7684591 |
| BMO Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05C02, Class XD, IO, 144A | 2.244(cc) | &nbsp;&nbsp;11/15/56 | &nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524447 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C03, Class XD, IO, 144A | 2.859(cc) | &nbsp;&nbsp;02/15/57 | &nbsp;&nbsp;12604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976283 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C04, Class XD, IO, 144A | 2.768(cc) | &nbsp;&nbsp;05/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415069 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C05, Class XD, IO, 144A | 2.478(cc) | &nbsp;&nbsp;02/15/57 | &nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414941 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C08, Class XD, IO, 144A | 2.067(cc) | &nbsp;&nbsp;12/15/57 | &nbsp;&nbsp;&nbsp;&nbsp;9929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721675 |
| BPR Commercial Mortgage Trust,<br> Series 2024-PARK, Class C, 144A | 6.183(cc) | &nbsp;&nbsp;11/05/39 | &nbsp;&nbsp;&nbsp;&nbsp;1630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684593 |
| BPR Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-TY, Class B, 144A, 1 Month SOFR + 1.264% (Cap N/A, Floor 1.150%) | 5.015(c) | &nbsp;&nbsp;09/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354569 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-TY, Class C, 144A, 1 Month SOFR + 1.814% (Cap N/A, Floor 1.700%) | 5.565(c) | &nbsp;&nbsp;09/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;3050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3046295 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-TY, Class D, 144A, 1 Month SOFR + 2.464% (Cap N/A, Floor 2.350%) | 6.215(c) | &nbsp;&nbsp;09/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-BRK02, Class C, 144A | 8.335(cc) | &nbsp;&nbsp;10/05/38 | &nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076764 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-PMDW, Class C, 144A | 5.850(cc) | &nbsp;&nbsp;11/05/41 | &nbsp;&nbsp;&nbsp;&nbsp;5950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6062345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-PMDW, Class XIO, IO, 144A | 0.208(cc) | &nbsp;&nbsp;11/05/41 | 149625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945391 |
| BRES Commercial Mortgage Trust,<br> Series 2025-ATCAP, Class C, 144A, 1 Month SOFR + 2.143% (Cap N/A, Floor 2.143%) | 5.893(c) | &nbsp;&nbsp;11/15/42 | &nbsp;&nbsp;13625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13676058 |
| BSTN Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01C, Class A, 144A | 5.369(cc) | &nbsp;&nbsp;06/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8214911 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01C, Class B, 144A | 5.755(cc) | &nbsp;&nbsp;06/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;3850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3970235 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01C, Class C, 144A | 6.236(cc) | &nbsp;&nbsp;06/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;2775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2883567 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01C, Class D, 144A | 6.717(cc) | &nbsp;&nbsp;06/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;2875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2974306 |
| BX Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-ACNT, Class C, 144A, 1 Month SOFR + 1.614% (Cap N/A, Floor 1.500%) | 5.364(c) | &nbsp;&nbsp;11/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;1807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804676 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-XL02, Class D, 144A, 1 Month SOFR + 1.511% (Cap N/A, Floor 1.397%) | 5.261(c) | &nbsp;&nbsp;10/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;2293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2289659 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-AHP, Class E, 144A, 1 Month SOFR + 3.040% (Cap N/A, Floor 3.040%) | 6.790(c) | &nbsp;&nbsp;01/17/39 | &nbsp;&nbsp;&nbsp;&nbsp;1010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007052 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-AIR02, Class A, 144A, 1 Month SOFR + 1.492% (Cap N/A, Floor 1.492%) | 5.243(c) | &nbsp;&nbsp;10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;2878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2881118 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-AIR02, Class B, 144A, 1 Month SOFR + 1.792% (Cap N/A, Floor 1.792%) | 5.543(c) | &nbsp;&nbsp;10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;2973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2979005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-AIR02, Class C, 144A, 1 Month SOFR + 2.241% (Cap N/A, Floor 2.241%) | 5.992(c) | &nbsp;&nbsp;10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;1247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1250036 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-AIRC, Class A, 144A, 1 Month SOFR + 1.691% (Cap N/A, Floor 1.691%) | 5.441(c) | &nbsp;&nbsp;08/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;3838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3845558 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-AIRC, Class D, 144A, 1 Month SOFR + 3.089% (Cap N/A, Floor 3.089%) | 6.839(c) | &nbsp;&nbsp;08/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;4737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4748926 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-MDHS, Class C, 144A, 1 Month SOFR + 2.041% (Cap N/A, Floor 2.041%) | 5.791(c) | &nbsp;&nbsp;05/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;1461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-PURE, Class C, 144A, CAONREPO + 3.050% (Cap N/A, Floor 3.050%) | 5.305(c) | &nbsp;&nbsp;11/15/41 &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;1918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401237 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-BCAT, Class D, 144A, 1 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.400(c) | &nbsp;&nbsp;08/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;7666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7685372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-BCAT, Class E, 144A, 1 Month SOFR + 3.500% (Cap N/A, Floor 3.500%) | 7.250(c) | &nbsp;&nbsp;08/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9181203 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-COPT, Class C, 144A, 1 Month SOFR + 2.500% (Cap N/A, Floor 2.500%) | 6.250(c) | &nbsp;&nbsp;08/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;9100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9122568 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-COPT, Class D, 144A, 1 Month SOFR + 3.250% (Cap N/A, Floor 3.250%) | 7.000(c) | &nbsp;&nbsp;08/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3309206 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-JDI, Class D, 144A, 1 Month SOFR + 2.400% (Cap N/A, Floor 2.400%) | 6.150(c) | &nbsp;&nbsp;11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;8850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8869220 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-JDI, Class E, 144A, 1 Month SOFR + 3.400% (Cap N/A, Floor 3.400%) | 7.150(c) | &nbsp;&nbsp;11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;9250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9272953 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPOT, Class D, 144A, 1 Month SOFR + 2.492% (Cap N/A, Floor 2.492%) | 6.242(c) | &nbsp;&nbsp;04/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;8568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8589175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPOT, Class E, 144A, 1 Month SOFR + 3.690% (Cap N/A, Floor 3.690%) | 7.440(c) | &nbsp;&nbsp;04/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;9066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9111730 |
| BX Commercial Mortgage Trust (Canada),<br> Series 2024-PURE, Class B, 144A, CAONREPO + 2.500% (Cap N/A, Floor 2.500%) | 4.755(c) | &nbsp;&nbsp;11/15/41 &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp;1918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401241 |
| BX Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-OC11, Class D, 144A | 3.944(cc) | &nbsp;&nbsp;12/09/41 | &nbsp;&nbsp;&nbsp;&nbsp;5936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5654290 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-OC11, Class E, 144A | 3.944(cc) | &nbsp;&nbsp;12/09/41 | &nbsp;&nbsp;&nbsp;&nbsp;9700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8946609 |

---

PGIM Securitized Credit Fund

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| BX Trust, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-LBA06, Class E, 144A, 1 Month SOFR + 2.700% (Cap N/A, Floor 2.700%) | 6.450 %(c) | &nbsp;&nbsp;01/15/39 |  | &nbsp;&nbsp;5250 | &nbsp;&nbsp; $5243514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-VAMF, Class E, 144A, 1 Month SOFR + 2.700% (Cap N/A, Floor 2.700%) | 6.450(c) | &nbsp;&nbsp;01/15/39 |  | &nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4289171 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-PAT, Class A, 144A, 1 Month SOFR + 2.090% (Cap N/A, Floor 2.090%)(x) | 5.840(c) | &nbsp;&nbsp;03/15/41 |  | &nbsp;&nbsp;4125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4125000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ARIA, Class A, 144A | 5.031(cc) | &nbsp;&nbsp;12/13/42 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10090650 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DIME, Class E, 144A, 1 Month SOFR + 3.000% (Cap N/A, Floor 3.000%) | 6.750(c) | &nbsp;&nbsp;02/15/35 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9956287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-LUNR, Class C, 144A, 1 Month SOFR + 2.000% (Cap N/A, Floor 2.000%) | 5.750(c) | &nbsp;&nbsp;06/15/40 |  | &nbsp;&nbsp;3018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3027714 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-LUNR, Class D, 144A, 1 Month SOFR + 2.500% (Cap N/A, Floor 2.500%) | 6.250(c) | &nbsp;&nbsp;06/15/40 |  | &nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245858 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ROIC, Class D, 144A, 1 Month SOFR + 1.993% (Cap N/A, Floor 1.993%) | 5.743(c) | &nbsp;&nbsp;03/15/30 |  | &nbsp;&nbsp;4981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4955686 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ROIC, Class E, 144A, 1 Month SOFR + 2.941% (Cap N/A, Floor 2.941%) | 6.691(c) | &nbsp;&nbsp;03/15/30 |  | &nbsp;&nbsp;6475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6442477 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-TAIL, Class E, 144A, 1 Month SOFR + 3.300% (Cap N/A, Floor 3.300%) | 7.050(c) | &nbsp;&nbsp;06/15/35 |  | &nbsp;&nbsp;9430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9423656 |
| Commercial Mortgage Trust,<br> Series 2024-277P, Class X, IO, 144A | 0.661(cc) | &nbsp;&nbsp;08/10/44 |  | 16500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393484 |
| Credit Suisse Mortgage Trust,<br> Series 2014-USA, Class A1, 144A | 3.304 | &nbsp;&nbsp;09/15/37 |  | &nbsp;&nbsp;2679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461267 |
| DBC Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DBC, Class C, 144A, 1 Month SOFR + 2.050% (Cap N/A, Floor 2.050%) | 5.801(c) | &nbsp;&nbsp;11/15/42 |  | &nbsp;&nbsp;9650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9649986 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DBC, Class D, 144A, 1 Month SOFR + 2.600% (Cap N/A, Floor 2.600%) | 6.351(c) | &nbsp;&nbsp;11/15/42 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008912 |
| DBMS DAC (United Kingdom),<br> Series 2025-01A, Class D, 144A, SONIA + 2.650% (Cap N/A, Floor 0.000%) | 6.402(c) | &nbsp;&nbsp;02/18/36 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;9250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12481904 |
| Durst Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-151, Class C, 144A | 5.824(cc) | &nbsp;&nbsp;08/10/42 |  | &nbsp;&nbsp;2745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2798907 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-151, Class D, 144A | 6.791(cc) | &nbsp;&nbsp;08/10/42 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065888 |
| ELP Commercial Mortgage Trust,<br> Series 2025-ELP, Class E, 144A | 6.450(cc) | &nbsp;&nbsp;11/13/42 |  | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6025718 |
| FHLMC Multifamily Structured Pass-Through Certificates,<br> Series K058, Class X1, IO | 0.893(cc) | &nbsp;&nbsp;08/25/26 |  | &nbsp;&nbsp;3293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11271 |
| FREMF Mortgage Trust,<br> Series 2019-K735, Class X2A, IO, 144A | 0.100 | &nbsp;&nbsp;05/25/26 |  | 71912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8198 |
| GS Mortgage Securities Corp. Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RVR, Class B, 144A | 5.538(cc) | &nbsp;&nbsp;08/10/41 |  | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8137449 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-800D, Class A, 144A, 1 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.384(c) | &nbsp;&nbsp;11/25/41 |  | &nbsp;&nbsp;3590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3594799 |
| Hudson Yards Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPRL, Class D, 144A | 6.340(cc) | &nbsp;&nbsp;01/13/40 |  | &nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5615653 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPRL, Class E, 144A | 6.678(cc) | &nbsp;&nbsp;01/13/40 |  | &nbsp;&nbsp;1070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110045 |
| ILPT Commercial Mortgage Trust,<br> Series 2025-LPF02, Class B, 144A | 5.537(cc) | &nbsp;&nbsp;07/13/42 |  | &nbsp;&nbsp;3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3305965 |
| IP Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IP, Class D, 144A | 6.315(cc) | &nbsp;&nbsp;06/10/42 |  | &nbsp;&nbsp;2830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2880289 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IP, Class E, 144A | 6.846(cc) | &nbsp;&nbsp;06/10/42 |  | &nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2201893 |
| JPMBB Commercial Mortgage Securities Trust,<br> Series 2015-C33, Class XB, IO | 0.517(cc) | &nbsp;&nbsp;12/15/48 |  | &nbsp;&nbsp;1532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
| Last Mile Logistics Pan Euro Finance DAC (Ireland),<br> Series 01A, Class D, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 3.964(c) | &nbsp;&nbsp;08/17/33 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115327 |
| MHC Commercial Mortgage Trust,<br> Series 2021-MHC, Class F, 144A, 1 Month SOFR + 2.715% (Cap N/A, Floor 2.601%) | 6.465(c) | &nbsp;&nbsp;04/15/38 |  | &nbsp;&nbsp;1366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367300 |
| Morgan Stanley Bank of America Merrill Lynch Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-C21, Class XB, IO, 144A | 0.000(cc) | &nbsp;&nbsp;03/15/48 |  | &nbsp;&nbsp;7558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-05C1, Class XD, IO, 144A | 2.638(cc) | &nbsp;&nbsp;03/15/58 |  | 14216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380446 |
| MTN Commercial Mortgage Trust,<br> Series 2022-LPFL, Class A, 144A, 1 Month SOFR + 1.397% (Cap N/A, Floor 1.397%) | 5.157(c) | &nbsp;&nbsp;03/15/39 |  | &nbsp;&nbsp;7250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7245488 |
| New York City Housing Development Corp.,<br> Series 2024-08SPR, Class A | 5.458 | &nbsp;&nbsp;12/15/43 |  | &nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4986419 |
| NRTH Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-PARK, Class A, 144A, 1 Month SOFR + 1.393% (Cap N/A, Floor 1.393%) | 5.143(c) | &nbsp;&nbsp;10/15/40 |  | &nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4904593 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-PARK, Class B, 144A, 1 Month SOFR + 1.643% (Cap N/A, Floor 1.643%) | 5.393(c) | &nbsp;&nbsp;10/15/40 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4001250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-PARK, Class C, 144A, 1 Month SOFR + 2.192% (Cap N/A, Floor 2.192%) | 5.942(c) | &nbsp;&nbsp;10/15/40 |  | &nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9222976 |
| NYC Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-03BP, Class E, 144A, 1 Month SOFR + 3.540% (Cap N/A, Floor 3.540%) | 7.290(c) | &nbsp;&nbsp;02/15/42 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10037570 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-300P, Class D, 144A | 6.161(cc) | &nbsp;&nbsp;07/13/42 |  | &nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807644 |
| ONE Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PARK, Class A, 144A, 1 Month SOFR + 0.814% (Cap N/A, Floor 0.700%) | 4.564(c) | &nbsp;&nbsp;03/15/36 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4987887 |

---

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| ONE Mortgage Trust, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PARK, Class B, 144A, 1 Month SOFR + 1.064% (Cap N/A, Floor 0.950%) | 4.814 %(c) | &nbsp;&nbsp;03/15/36 |  | &nbsp;&nbsp;1500 | &nbsp;&nbsp; $1494383 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PARK, Class C, 144A, 1 Month SOFR + 1.214% (Cap N/A, Floor 1.100%) | 4.964(c) | &nbsp;&nbsp;03/15/36 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PARK, Class D, 144A, 1 Month SOFR + 1.614% (Cap N/A, Floor 1.500%) | 5.364(c) | &nbsp;&nbsp;03/15/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PARK, Class E, 144A, 1 Month SOFR + 1.864% (Cap N/A, Floor 1.750%) | 5.614(c) | &nbsp;&nbsp;03/15/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398755 |
| One New York Plaza Trust,<br> Series 2020-01NYP, Class AJ, 144A, 1 Month SOFR + 1.364% (Cap N/A, Floor 1.250%) | 5.115(c) | &nbsp;&nbsp;01/15/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575023 |
| ROCK Trust,<br> Series 2024-CNTR, Class E, 144A | 8.819 | &nbsp;&nbsp;11/13/41 |  | 15500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16493223 |
| Salus European Loan Conduit DAC (United Kingdom),<br> Series 33A, Class A, 144A, SONIA + 2.169% (Cap N/A, Floor 1.500%) | 6.092(c) | &nbsp;&nbsp;01/23/32 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2655702 |
| SCG Commercial Mortgage Trust,<br> Series 2025-DLFN, Class E, 144A, 1 Month SOFR + 2.950% (Cap N/A, Floor 2.950%) | 6.700(c) | &nbsp;&nbsp;03/15/35 |  | &nbsp;&nbsp;7825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7776134 |
| SCG Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SNIP, Class C, 144A, 1 Month SOFR + 1.900% (Cap N/A, Floor 1.900%) | 5.650(c) | &nbsp;&nbsp;09/15/42 |  | &nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4514052 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SNIP, Class D, 144A, 1 Month SOFR + 2.600% (Cap N/A, Floor 2.600%) | 6.350(c) | &nbsp;&nbsp;09/15/42 |  | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3013115 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SNIP, Class E, 144A, 1 Month SOFR + 3.400% (Cap N/A, Floor 3.400%) | 7.150(c) | &nbsp;&nbsp;09/15/42 |  | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2510193 |
| SLG Office Trust,<br> Series 2021-OVA, Class E, 144A | 2.851 | &nbsp;&nbsp;07/15/41 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3452867 |
| SREIT Trust,<br> Series 2021-MFP, Class F, 144A, 1 Month SOFR + 2.739% (Cap N/A, Floor 2.625%) | 6.490(c) | &nbsp;&nbsp;11/15/38 |  | &nbsp;&nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217964 |
| Taurus DAC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-UK03A, Class D, 144A, SONIA + 2.800% (Cap N/A, Floor 0.000%) | 6.731(c) | &nbsp;&nbsp;07/20/35 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2228116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-UK03A, Class E, 144A, SONIA + 3.800% (Cap N/A, Floor 0.000%) | 7.731(c) | &nbsp;&nbsp;07/20/35 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2026846 |
| TCO Commercial Mortgage Trust,<br> Series 2024-DPM, Class C, 144A, 1 Month SOFR + 1.992% (Cap N/A, Floor 1.992%) | 5.742(c) | &nbsp;&nbsp;12/15/39 |  | &nbsp;&nbsp;4920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4926144 |
| UK Logistics DAC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01A, Class B, 144A, SONIA + 2.550% (Cap N/A, Floor 2.550%) | 6.406(c) | &nbsp;&nbsp;05/17/34 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1524041 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02A, Class D, 144A, SONIA + 2.900% (Cap N/A, Floor 0.000%) | 6.756(c) | &nbsp;&nbsp;08/17/35 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7426202 |
| VNDO Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-350P, Class D, 144A | 3.903(cc) | &nbsp;&nbsp;01/10/35 |  | 10475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10318067 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-350P, Class E, 144A | 3.903(cc) | &nbsp;&nbsp;01/10/35 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3889813 |
| WCORE Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CORE, Class C, 144A, 1 Month SOFR + 2.241% (Cap N/A, Floor 2.241%) | 5.991(c) | &nbsp;&nbsp;11/15/41 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4019839 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CORE, Class D, 144A, 1 Month SOFR + 2.940% (Cap N/A, Floor 2.940%) | 6.690(c) | &nbsp;&nbsp;11/15/41 |  | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8044638 |
| Wells Fargo Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FCMT, Class C, 144A, 1 Month SOFR + 2.514% (Cap N/A, Floor 2.400%) | 6.265(c) | &nbsp;&nbsp;05/15/31 |  | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098156 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FCMT, Class D, 144A, 1 Month SOFR + 3.614% (Cap N/A, Floor 3.500%) | 7.365(c) | &nbsp;&nbsp;05/15/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688816 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FCMT, Class E, 144A, 1 Month SOFR + 4.614% (Cap N/A, Floor 4.500%) | 8.365(c) | &nbsp;&nbsp;05/15/31 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001043 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01CHI, Class D, 144A | 6.708(cc) | &nbsp;&nbsp;07/15/35 |  | &nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3234575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01CHI, Class E, 144A | 7.574(cc) | &nbsp;&nbsp;07/15/35 |  | &nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C1, Class XD, IO, 144A | 2.634(cc) | &nbsp;&nbsp;07/15/57 |  | 13169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1067689 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-GRP, Class B, 144A, 1 Month SOFR + 2.291% (Cap N/A, Floor 2.291%) | 6.041(c) | &nbsp;&nbsp;10/15/41 |  | &nbsp;&nbsp;2850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2853981 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-GRP, Class C, 144A, 1 Month SOFR + 2.940% (Cap N/A, Floor 2.940%) | 6.690(c) | &nbsp;&nbsp;10/15/41 |  | &nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4644758 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B33RP, Class A, 144A, 1 Month SOFR + 1.350% (Cap N/A, Floor 1.350%) | 5.100(c) | &nbsp;&nbsp;08/15/42 |  | &nbsp;&nbsp;9250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9245906 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B33RP, Class C, 144A, 1 Month SOFR + 2.000% (Cap N/A, Floor 2.000%) | 5.750(c) | &nbsp;&nbsp;08/15/42 |  | &nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4495284 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-B33RP, Class D, 144A, 1 Month SOFR + 2.500% (Cap N/A, Floor 2.500%) | 6.250(c) | &nbsp;&nbsp;08/15/42 |  | 10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10777821 |
| WHARF Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DC, Class D, 144A | 6.612(cc) | &nbsp;&nbsp;07/15/40 |  | &nbsp;&nbsp;5690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5886074 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DC, Class E, 144A | 7.724(cc) | &nbsp;&nbsp;07/15/40 |  | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6131143 |
| **Total Commercial Mortgage-Backed Securities<br> (cost $535,824,707)** | **Total Commercial Mortgage-Backed Securities<br> (cost $535,824,707)** | **Total Commercial Mortgage-Backed Securities<br> (cost $535,824,707)** | **Total Commercial Mortgage-Backed Securities<br> (cost $535,824,707)** | **Total Commercial Mortgage-Backed Securities<br> (cost $535,824,707)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537881943 |
| **Corporate Bond 1.6%** | **Corporate Bond 1.6%** | **Corporate Bond 1.6%** | **Corporate Bond 1.6%** | **Corporate Bond 1.6%** | **Corporate Bond 1.6%** |
| **Internet** | **Internet** | **Internet** | **Internet** | **Internet** | **Internet** |
| Beignet Investor LLC,<br> Sr. Sec'd. Notes, 144A | 6.581 | &nbsp;&nbsp;05/30/49 |  | 37254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39439559 |

---

PGIM Securitized Credit Fund

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Floating Rate and Other Loans 0.0%** | **Floating Rate and Other Loans 0.0%** | **Floating Rate and Other Loans 0.0%** | **Floating Rate and Other Loans 0.0%** | **Floating Rate and Other Loans 0.0%** | **Floating Rate and Other Loans 0.0%** |
| **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** |
| Tenneco, Inc.,<br> Term B Loan, 3 Month SOFR + 5.000% | &nbsp;&nbsp;8.989 %(c) | &nbsp;&nbsp;11/17/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp; $343564 |
| **Electric 0.0%** | **Electric 0.0%** | **Electric 0.0%** | **Electric 0.0%** | **Electric 0.0%** | **Electric 0.0%** |
| Heritage Power LLC,<br> Term Loan, 3 Month SOFR + 5.500%^ | &nbsp;&nbsp;9.172(c) | &nbsp;&nbsp;07/20/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13507 |
| **Entertainment 0.0%** | **Entertainment 0.0%** | **Entertainment 0.0%** | **Entertainment 0.0%** | **Entertainment 0.0%** | **Entertainment 0.0%** |
| Allen Media LLC,<br> Term B Loan, 3 Month SOFR + 5.500% | &nbsp;&nbsp;9.322(c) | &nbsp;&nbsp;02/10/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179440 |
| **Internet 0.0%** | **Internet 0.0%** | **Internet 0.0%** | **Internet 0.0%** | **Internet 0.0%** | **Internet 0.0%** |
| Diamond Sports Net LLC,<br> First Lien Exit Term Loan | 15.000 | &nbsp;&nbsp;01/02/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8146 |
| **Total Floating Rate and Other Loans<br> (cost $609,791)** | **Total Floating Rate and Other Loans<br> (cost $609,791)** | **Total Floating Rate and Other Loans<br> (cost $609,791)** | **Total Floating Rate and Other Loans<br> (cost $609,791)** | **Total Floating Rate and Other Loans<br> (cost $609,791)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544657 |
| **Residential Mortgage-Backed Securities 18.7%** | **Residential Mortgage-Backed Securities 18.7%** | **Residential Mortgage-Backed Securities 18.7%** | **Residential Mortgage-Backed Securities 18.7%** | **Residential Mortgage-Backed Securities 18.7%** | **Residential Mortgage-Backed Securities 18.7%** |
| Anchor Mortgage Trust,<br> Series 2025-RTL01, Class A1, 144A | &nbsp;&nbsp;5.718(cc) | &nbsp;&nbsp;05/25/40 |  | &nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3317466 |
| Angel Oak Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-03, Class A1, 144A | &nbsp;&nbsp;5.420(cc) | &nbsp;&nbsp;03/25/70 |  | &nbsp;&nbsp;8529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8585738 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-09, Class A1, 144A | &nbsp;&nbsp;5.141(cc) | &nbsp;&nbsp;08/25/70 |  | &nbsp;&nbsp;5439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5458770 |
| Bayview Financing Trust,<br> Series 2023-01F, Class A, 144A, 30 Day Average SOFR + 5.000% (Cap N/A, Floor 4.000%) | &nbsp;&nbsp;8.800(c) | &nbsp;&nbsp;07/01/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398163 |
| Bellemeade Re Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01, Class M1B, 144A, 30 Day Average SOFR + 3.200% (Cap N/A, Floor 3.150%) | &nbsp;&nbsp;7.074(c) | &nbsp;&nbsp;08/25/34 |  | &nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4634961 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01, Class M2, 144A, 30 Day Average SOFR + 3.900% (Cap N/A, Floor 3.900%) | &nbsp;&nbsp;7.774(c) | &nbsp;&nbsp;10/25/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904085 |
| BRAVO Residential Funding Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM02, Class A1, 144A | &nbsp;&nbsp;5.678(cc) | &nbsp;&nbsp;11/25/64 |  | &nbsp;&nbsp;3335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM05, Class A3, 144A | &nbsp;&nbsp;5.800(cc) | &nbsp;&nbsp;02/25/65 |  | &nbsp;&nbsp;1149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156213 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM06, Class A1, 144A | &nbsp;&nbsp;5.333(cc) | &nbsp;&nbsp;06/25/65 |  | 17336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17442844 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM09, Class A3, 144A | &nbsp;&nbsp;5.551(cc) | &nbsp;&nbsp;09/25/65 |  | &nbsp;&nbsp;4828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4857309 |
| CIM Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-R01, Class A1, 144A | &nbsp;&nbsp;4.750(cc) | &nbsp;&nbsp;06/25/64 |  | &nbsp;&nbsp;3105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3089869 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-I01, Class A1, 144A | &nbsp;&nbsp;5.655(cc) | &nbsp;&nbsp;10/25/69 |  | &nbsp;&nbsp;6063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6133777 |
| Citigroup Mortgage Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class A2, 144A | &nbsp;&nbsp;4.227(cc) | &nbsp;&nbsp;02/25/63 |  | &nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529474 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class B1, 144A | &nbsp;&nbsp;4.223(cc) | &nbsp;&nbsp;02/25/63 |  | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class B2, 144A | &nbsp;&nbsp;0.000(cc) | &nbsp;&nbsp;02/25/63 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48643 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class B3, PO, 144A | 11.177(s) | &nbsp;&nbsp;02/25/63 |  | &nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class B4, PO, 144A | 14.412(s) | &nbsp;&nbsp;02/25/63 |  | &nbsp;&nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25735 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class M1, 144A | &nbsp;&nbsp;1.432(cc) | &nbsp;&nbsp;02/25/63 |  | &nbsp;&nbsp;&nbsp;&nbsp;399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336546 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class M2, 144A | &nbsp;&nbsp;4.223(cc) | &nbsp;&nbsp;02/25/63 |  | &nbsp;&nbsp;&nbsp;&nbsp;304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249369 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class SA, 144A | &nbsp;&nbsp;0.000(cc) | &nbsp;&nbsp;02/25/63 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7775 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class X, IO, 144A | &nbsp;&nbsp;0.000(cc) | &nbsp;&nbsp;02/25/63 |  | &nbsp;&nbsp;8685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class A1, 144A | &nbsp;&nbsp;4.018(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;4960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4680382 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class A2, 144A | &nbsp;&nbsp;4.018(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175017 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class B1, 144A | &nbsp;&nbsp;4.182(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57863 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class B2, 144A | &nbsp;&nbsp;4.182(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33513 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class B3, 144A | &nbsp;&nbsp;4.182(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35904 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class B4, 144A | &nbsp;&nbsp;4.182(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28115 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class M1, 144A | &nbsp;&nbsp;0.182(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139478 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class M2, 144A | &nbsp;&nbsp;4.182(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82614 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class SA, 144A | &nbsp;&nbsp;0.000(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9580 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class X, IO, 144A | &nbsp;&nbsp;0.000(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;5811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581 |
| Clavel Residential DAC (Spain),<br> Series 2025-01A, Class B, 144A, 3 Month EURIBOR + 1.500% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;3.565(c) | &nbsp;&nbsp;10/28/66 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5774333 |

---

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** |
| COLT Mortgage Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-03, Class A1, 144A | 5.352 %(cc) | &nbsp;&nbsp;03/25/70 |  | &nbsp;&nbsp;6824 | &nbsp;&nbsp; $6861236 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-05, Class M1, 144A | 6.296(cc) | &nbsp;&nbsp;05/25/70 |  | &nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2132342 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-08, Class M1, 144A | 6.206(cc) | &nbsp;&nbsp;08/25/70 |  | &nbsp;&nbsp;3012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3047805 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV02, Class A1, 144A | 5.601(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;6249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6313798 |
| Connecticut Avenue Securities Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-R01, Class 1B2, 144A, 30 Day Average SOFR + 6.000% (Cap N/A, Floor 0.000%) | 9.874(c) | &nbsp;&nbsp;10/25/41 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4129634 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R01, Class 1B2, 144A, 30 Day Average SOFR + 6.000% (Cap N/A, Floor 0.000%) | 9.874(c) | &nbsp;&nbsp;12/25/41 |  | &nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347125 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-R05, Class 1M2, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | 6.974(c) | &nbsp;&nbsp;06/25/43 |  | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622226 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-R05, Class 2M2, 144A, 30 Day Average SOFR + 1.700% (Cap N/A, Floor 0.000%) | 5.574(c) | &nbsp;&nbsp;07/25/44 |  | &nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1756020 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-R06, Class 1B1, 144A, 30 Day Average SOFR + 2.050% (Cap N/A, Floor 0.000%) | 5.924(c) | &nbsp;&nbsp;09/25/44 |  | &nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2308525 |
| Cross Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-H02, Class A1, 144A | 5.356(cc) | &nbsp;&nbsp;03/25/70 |  | &nbsp;&nbsp;6998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7036846 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-H04, Class A2, 144A | 5.778(cc) | &nbsp;&nbsp;06/25/70 |  | &nbsp;&nbsp;4875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4911405 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-H07, Class A1, 144A | 4.934(cc) | &nbsp;&nbsp;09/25/70 |  | 15785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15793787 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-H10, Class A2, 144A | 5.252(cc) | &nbsp;&nbsp;01/25/71 |  | &nbsp;&nbsp;2636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2638213 |
| EFMT, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class A1, 144A | 5.626(cc) | &nbsp;&nbsp;03/25/70 |  | &nbsp;&nbsp;6956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7024245 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV03, Class M1, 144A | 6.171(cc) | &nbsp;&nbsp;07/25/70 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10121251 |
| FHLMC Structured Agency Credit Risk REMIC Trust,<br> Series 2020-DNA06, Class B1, 144A, 30 Day Average SOFR + 3.000% (Cap N/A, Floor 0.000%) | 6.874(c) | &nbsp;&nbsp;12/25/50 |  | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800766 |
| GS Mortgage-Backed Securities Corp. Trust,<br> Series 2025-NQM06, Class A1, 144A | 0.050(cc) | &nbsp;&nbsp;11/25/29 |  | &nbsp;&nbsp;4383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4379752 |
| INCREF LLC,<br> Series 2025-FL01, Class A, 144A, 1 Month SOFR + 1.728% (Cap N/A, Floor 1.728%) | 5.459(c) | &nbsp;&nbsp;10/19/42 |  | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9017578 |
| JPMorgan Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM02, Class A2, 144A | 5.770(cc) | &nbsp;&nbsp;09/25/65 |  | &nbsp;&nbsp;6401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6455090 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-VIS02, Class A1, 144A | 5.385(cc) | &nbsp;&nbsp;12/25/55 |  | &nbsp;&nbsp;7798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7855062 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-VIS02, Class A3, 144A | 5.739(cc) | &nbsp;&nbsp;12/25/55 |  | &nbsp;&nbsp;4874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4905694 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-VIS03, Class A1, 144A | 5.062(cc) | &nbsp;&nbsp;02/25/66 |  | &nbsp;&nbsp;3245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256564 |
| Kinbane DAC (Ireland),<br> Series 2024-RPL2A, Class C, 144A, 1 Month EURIBOR + 2.650% (Cap N/A, Floor 0.000%) | 4.553(c) | &nbsp;&nbsp;01/24/63 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229600 |
| Legacy Mortgage Asset Trust,<br> Series 2025-PR01, Class A1, 144A | 6.000(cc) | &nbsp;&nbsp;01/25/61 |  | 19455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19481515 |
| LHOME Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RTL04, Class A1, 144A | 5.921(cc) | &nbsp;&nbsp;07/25/39 |  | &nbsp;&nbsp;7733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7770739 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RTL05, Class A1, 144A | 5.323(cc) | &nbsp;&nbsp;09/25/39 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4007516 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RTL01, Class A1, 144A | 5.652(cc) | &nbsp;&nbsp;01/25/40 |  | &nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7447804 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RTL02, Class A1, 144A | 5.612(cc) | &nbsp;&nbsp;04/25/40 |  | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014764 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RTL03, Class M1, 144A | 6.891(cc) | &nbsp;&nbsp;08/25/40 |  | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1521734 |
| Lincoln Senior Participation Trust,<br> Series 2024-01, Class A1X, 144A, 1 Month SOFR + 2.200%^ | 6.154 | &nbsp;&nbsp;06/27/27 |  | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000000 |
| Lugo Funding DAC (Spain),<br> Series 2024-01A, Class C, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 0.000%) | 4.059(c) | &nbsp;&nbsp;05/26/66 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4024783 |
| MFA Trust,<br> Series 2025-NQM01, Class A1, 144A | 5.441(cc) | &nbsp;&nbsp;03/25/70 |  | &nbsp;&nbsp;4196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4219264 |
| Morgan Stanley Residential Mortgage Loan Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM02, Class A1, 144A | 5.627(cc) | &nbsp;&nbsp;01/25/70 |  | &nbsp;&nbsp;8948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9020455 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM07, Class A1, 144A | 4.984(cc) | &nbsp;&nbsp;09/25/70 |  | 11876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11886273 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM08, Class A1, 144A | 4.963(cc) | &nbsp;&nbsp;09/25/70 |  | 11549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11555312 |
| NLT Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class A1, 144A | 5.506(cc) | &nbsp;&nbsp;02/25/70 |  | 12392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12523032 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class A2, 144A | 5.708(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;1389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404015 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class A3, 144A | 5.860(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;2384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2408351 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class AIOS, 144A | 0.399(cc) | &nbsp;&nbsp;02/25/70 |  | 18945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138062 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class B1, 144A | 6.595(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747742 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class B2, 144A | 6.595(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;&nbsp;&nbsp;590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575901 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class B3, 144A | 6.595(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340260 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class M1, 144A | 6.314(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;1070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085878 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class XS, 144A^ | 0.901(cc) | &nbsp;&nbsp;02/25/70 |  | 18945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322062 |
| NYMT Loan Trust,<br> Series 2025-INV02, Class A1, 144A | 5.000(cc) | &nbsp;&nbsp;10/25/60 |  | &nbsp;&nbsp;7418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7454579 |

---

PGIM Securitized Credit Fund

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** |
| OBX Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-NQM12, Class M1, 144A | 5.933 %(cc) | &nbsp;&nbsp;07/25/64 |  | 4000 | &nbsp;&nbsp; $4012685 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM02, Class A1, 144A | 5.597(cc) | &nbsp;&nbsp;11/25/64 |  | 3092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3119095 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM03, Class A1, 144A | 5.648(cc) | &nbsp;&nbsp;12/01/64 |  | 6355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6417466 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM04, Class A1, 144A | 5.400(cc) | &nbsp;&nbsp;02/25/55 |  | 6704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6749765 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM10, Class M1, 144A | 6.042(cc) | &nbsp;&nbsp;05/25/65 |  | 3800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3831892 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM11, Class M1, 144A | 6.149(cc) | &nbsp;&nbsp;05/25/65 |  | 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5063535 |
| PMT Credit Risk Transfer Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01R, Class A, 144A, 30 Day Average SOFR + 3.500% (Cap N/A, Floor 0.000%) | 7.374(c) | &nbsp;&nbsp;05/25/33 |  | 4684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4734256 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-02R, Class A, 144A, 30 Day Average SOFR + 3.350% (Cap N/A, Floor 0.000%) | 7.215(c) | &nbsp;&nbsp;03/29/27 |  | 5310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5361335 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-03R, Class A, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | 6.965(c) | &nbsp;&nbsp;09/27/28 |  | 1985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009921 |
| PRET Trust,<br> Series 2025-NPL01, Class A1, 144A | 6.063(cc) | &nbsp;&nbsp;02/25/55 |  | 5955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5966399 |
| PRPM Fundido DAC (Spain),<br> Series 2025-02A, Class C, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 0.000%) | 4.038(c) | &nbsp;&nbsp;01/29/75 | &nbsp;&nbsp;EUR | 1529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760232 |
| PRPM LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-06, Class A1, 144A | 5.699(cc) | &nbsp;&nbsp;11/25/29 |  | 2259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2259424 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RCF06, Class A3, 144A | 4.000(cc) | &nbsp;&nbsp;10/25/64 |  | &nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676539 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02, Class A1, 144A | 6.469(cc) | &nbsp;&nbsp;05/25/30 |  | 4722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4730950 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-04, Class A1, 144A | 6.179(cc) | &nbsp;&nbsp;06/25/30 |  | 6626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6638478 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RCF01, Class A2, 144A | 4.500(cc) | &nbsp;&nbsp;02/25/55 |  | 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RCF01, Class A3, 144A | 4.500(cc) | &nbsp;&nbsp;02/25/55 |  | 1766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724606 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RCF03, Class A1, 144A | 5.250(cc) | &nbsp;&nbsp;07/25/55 |  | 6604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6660626 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RCF03, Class A3, 144A | 5.250(cc) | &nbsp;&nbsp;07/25/55 |  | &nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872948 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class A1, 144A | 4.000(cc) | &nbsp;&nbsp;03/25/55 |  | 9995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9827679 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class A2, 144A | 4.000(cc) | &nbsp;&nbsp;03/25/55 |  | 1987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1909261 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class A3, 144A | 4.000(cc) | &nbsp;&nbsp;03/25/55 |  | 1172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112923 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class M1A, 144A | 4.000(cc) | &nbsp;&nbsp;03/25/55 |  | 1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class M1B, 144A | 4.000(cc) | &nbsp;&nbsp;03/25/55 |  | &nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373984 |
| PRPM Trust,<br> Series 2025-NQM01, Class A1, 144A | 5.802(cc) | &nbsp;&nbsp;11/25/69 |  | 5839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5887826 |
| Radnor Re Ltd.,<br> Series 2024-01, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 2.900%) | 6.765(c) | &nbsp;&nbsp;09/25/34 |  | 2613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2626799 |
| RCO Mortgage LLC,<br> Series 2025-03, Class A1, 144A | 6.435(cc) | &nbsp;&nbsp;05/25/30 |  | 5535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5546690 |
| Roc Mortgage Trust,<br> Series 2025-RTL01, Class A1, 144A | 5.625(cc) | &nbsp;&nbsp;02/25/40 |  | 8800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8846886 |
| Santander Mortgage Asset Receivable Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM01, Class A1, 144A | 5.545(cc) | &nbsp;&nbsp;01/25/65 |  | 7797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7851746 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NQM05, Class A1, 144A | 5.067(cc) | &nbsp;&nbsp;08/25/65 |  | 6270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6279952 |
| VCAT LLC,<br> Series 2025-NPL03, Class A1, 144A | 5.889(cc) | &nbsp;&nbsp;02/25/55 |  | 3996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4005150 |
| Verus Securitization Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02, Class A1, 144A | 5.307(cc) | &nbsp;&nbsp;03/25/70 |  | 7118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7161737 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-05, Class M1, 144A | 6.014(cc) | &nbsp;&nbsp;06/25/70 |  | 4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4540321 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-06, Class A1, 144A | 5.417(cc) | &nbsp;&nbsp;07/25/70 |  | 5758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5806642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class A1, 144A | 5.548(cc) | &nbsp;&nbsp;02/25/70 |  | 7315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7393331 |
| **Total Residential Mortgage-Backed Securities<br> (cost $467,563,051)** | **Total Residential Mortgage-Backed Securities<br> (cost $467,563,051)** | **Total Residential Mortgage-Backed Securities<br> (cost $467,563,051)** | **Total Residential Mortgage-Backed Securities<br> (cost $467,563,051)** | **Total Residential Mortgage-Backed Securities<br> (cost $467,563,051)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470831095 |
| **U.S. Treasury Obligations(h)(k) 0.1%** | **U.S. Treasury Obligations(h)(k) 0.1%** | **U.S. Treasury Obligations(h)(k) 0.1%** | **U.S. Treasury Obligations(h)(k) 0.1%** | **U.S. Treasury Obligations(h)(k) 0.1%** | **U.S. Treasury Obligations(h)(k) 0.1%** |
| U.S. Treasury Notes | 3.500 | &nbsp;&nbsp;09/30/26 |  | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249834 |
| U.S. Treasury Notes | 4.125 | &nbsp;&nbsp;01/31/27 |  | &nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553502 |
| U.S. Treasury Notes | 4.250 | &nbsp;&nbsp;11/30/26 |  | 1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710359 |
| U.S. Treasury Notes | 4.250 | &nbsp;&nbsp;12/31/26 |  | &nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543734 |
| **Total U.S. Treasury Obligations<br> (cost $3,039,844)** | **Total U.S. Treasury Obligations<br> (cost $3,039,844)** | **Total U.S. Treasury Obligations<br> (cost $3,039,844)** | **Total U.S. Treasury Obligations<br> (cost $3,039,844)** | **Total U.S. Treasury Obligations<br> (cost $3,039,844)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057429 |

---

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 0.0%** | **Common Stocks 0.0%** | **Common Stocks 0.0%** |
| **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** |
| Diamond Sports Group LLC\*(x) | 3163 | &nbsp;&nbsp; $5273 |
| **Oil, Gas & Consumable Fuels 0.0%** | **Oil, Gas & Consumable Fuels 0.0%** | **Oil, Gas & Consumable Fuels 0.0%** |
| Heritage Power LLC, Exit Financing - Participation on Account of Backstop Shares & Exit Financing - Reserve Shares\* | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5346 |
| Heritage Power LLC, Exit Financing Participation Shares & Backstop Shares\* | 1852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122232 |
| Heritage Power LLC, Litigation Trust Interests\*^ | 2132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128644 |
| **Total Common Stocks<br> (cost $28,534)** | **Total Common Stocks<br> (cost $28,534)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133917 |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Units** |  |
| **Warrants\* 0.0%** | **Warrants\* 0.0%** | **Warrants\* 0.0%** |
| **Interactive Media & Services** | **Interactive Media & Services** | **Interactive Media & Services** |
| Diamond Sports Group LLC, expiring 06/30/26(x)<br> (cost $0) | 5916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| **Total Long-Term Investments<br> (cost $2,382,069,893)** | **Total Long-Term Investments<br> (cost $2,382,069,893)** | &nbsp;&nbsp;&nbsp;&nbsp;2423045256 |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Shares** |  |
| **Short-Term Investment 3.2%** | **Short-Term Investment 3.2%** | **Short-Term Investment 3.2%** |
| **Affiliated Mutual Fund** |  |  |
| PGIM Core Government Money Market Fund (7-day effective yield 3.896%)<br> (cost $80,948,075)(wa) | &nbsp;&nbsp;80948075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80948075 |
| **TOTAL INVESTMENTS 99.2%<br> (cost $2,463,017,968)** | **TOTAL INVESTMENTS 99.2%<br> (cost $2,463,017,968)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2503993331 |
| Other assets in excess of liabilities(z) 0.8% | Other assets in excess of liabilities(z) 0.8% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20344398 |
| **Net Assets 100.0%** | **Net Assets 100.0%** | $2524337729 |

---

------

Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:

CAD—Canadian Dollar <br> EUR—Euro <br> GBP—British Pound

---

| |
|:---|
| 144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. |
| A—Annual payment frequency for swaps |
| BARC—Barclays Bank PLC |
| 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. |
| 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 |

---

PGIM Securitized Credit Fund

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

---

| |
|:---|
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR—Secured Overnight Financing Rate |
| SONIA—Sterling Overnight Index Average |
| SSB—State Street Bank & Trust Company |

---

---

| | |
|:---|:---|
| \* | 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 $20,478,616 and 0.8% of net assets. |
| (c) | Variable rate instrument. The interest rate shown reflects the rate in effect at December 31, 2025. |
| (cc) | Variable rate instrument. The rate shown is based on the latest available information as of December 31, 2025. 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. |
| (h) | Represents security, or a portion thereof, segregated as collateral for OTC derivatives. |
| (k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
| (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,<br> Series 2018-20TS, Class H, 144A, 3.100%(cc), 05/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;06/28/19 | &nbsp;&nbsp;&nbsp;&nbsp; $94181 | &nbsp;&nbsp;&nbsp;&nbsp; $84250 | 0.0% |
| 20 Times Square Trust,<br> Series 2018-20TS, Class G, 144A, 3.100%(cc), 05/15/35 | 06/28/19-08/26/20 | &nbsp;&nbsp;&nbsp;&nbsp;184522 | &nbsp;&nbsp;&nbsp;&nbsp;173500 | 0.0 |
| 20 Times Square Trust,<br> Series 2018-20TS, Class F, 144A, 3.100%(cc), 05/15/35 | 08/26/20-04/07/22 | &nbsp;&nbsp;&nbsp;&nbsp;483088 | &nbsp;&nbsp;&nbsp;&nbsp;466700 | 0.0 |
| BX Trust,<br> Series 2024-PAT, Class A, 144A, 1 Month SOFR + 2.090% (Cap N/A, Floor 2.090%), 5.840%(c), 03/15/41 | 02/29/24-01/08/25 | &nbsp;&nbsp;&nbsp;4130625 | &nbsp;&nbsp;&nbsp;4125000 | 0.2 |
| Diamond Sports Group LLC\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;01/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5273 | 0.0 |
| Diamond Sports Group LLC, expiring 06/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;01/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | 0.0 |
| &nbsp;&nbsp;&nbsp;**Total** |  | $4900696 | $4854723 | 0.2% |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts outstanding at December 31, 2025:** | **Futures contracts outstanding at December 31, 2025:** | **Futures contracts outstanding at December 31, 2025:** | **Futures contracts outstanding at December 31, 2025:** | **Futures contracts outstanding at December 31, 2025:** |
| **Number<br> of<br> Contracts** | **Type** | **Expiration<br> Date** | **Current<br> Notional<br> Amount** | **Value /<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| **Long Positions:** | **Long Positions:** | **Long Positions:** | **Long Positions:** | **Long Positions:** |
| 1696 | 3 Month CME SOFR | Mar. 2026 | $408365000 | $44840 |
| 1 | 30 Year U.S. Ultra Treasury Bonds | Mar. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp;(1846) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;42994 |
| **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** |
| 1814 | 2 Year U.S. Treasury Notes | Mar. 2026 | &nbsp;&nbsp;&nbsp;378743358 | &nbsp;&nbsp;&nbsp;&nbsp;78346 |
| 5 | 5 Year Euro-Bobl | Mar. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4849 |
| 233 | 5 Year U.S. Treasury Notes | Mar. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;25467993 | &nbsp;&nbsp;&nbsp;&nbsp;11628 |
| 5 | 10 Year Euro-Bund | Mar. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749601 | &nbsp;&nbsp;&nbsp;&nbsp;10278 |
| 227 | 10 Year U.S. Treasury Notes | Mar. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;25523313 | &nbsp;&nbsp;&nbsp;177526 |
| 217 | 10 Year U.S. Ultra Treasury Notes | Mar. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;24958392 | &nbsp;&nbsp;&nbsp;&nbsp;78379 |
| 193 | 20 Year U.S. Treasury Bonds | Mar. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;22309594 | &nbsp;&nbsp;&nbsp;131620 |
| 1 | Euro Schatz Index | Mar. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;492848 |
|  |  |  |  | $535842 |

---

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)

#### Forward foreign currency exchange contracts outstanding at December 31, 2025 :

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;Expiring 01/09/26 | BARC | EUR | 1310 | $1526313 | $1540564 | $14251 | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| &nbsp;&nbsp;Expiring 01/09/26 | MSI | EUR | 1346 | &nbsp;&nbsp;&nbsp;1585062 | &nbsp;&nbsp;&nbsp;1582660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(2402) |
|  |  |  |  | $3111375 | $3123224 | &nbsp;&nbsp;&nbsp;14251 | &nbsp;&nbsp;&nbsp;(2402) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale<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:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |
| British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, |
| &nbsp;&nbsp;Expiring 01/09/26 | CITI | GBP | &nbsp;&nbsp;&nbsp;11048 | $14464047 | $14891902 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $(427855) |
| &nbsp;&nbsp;Expiring 01/09/26 | JPM | GBP | &nbsp;&nbsp;&nbsp;&nbsp;6700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9040438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9031174 | &nbsp;&nbsp;&nbsp;&nbsp;9264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 01/09/26 | SSB | GBP | &nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3437242 | &nbsp;&nbsp;&nbsp;&nbsp;3464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, | Canadian Dollar, |
| &nbsp;&nbsp;Expiring 01/09/26 | MSI | CAD | &nbsp;&nbsp;&nbsp;&nbsp;3622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2576283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2639952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63669) |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;Expiring 01/09/26 | JPM | EUR | 380959 | &nbsp;&nbsp;&nbsp;440439043 | &nbsp;&nbsp;&nbsp;447894495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(7455452) |
| &nbsp;&nbsp;Expiring 01/09/26 | MSI | EUR | &nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2965287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2997741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32454) |
|  |  |  |  | $472925804 | $480892506 | &nbsp;&nbsp;&nbsp;12728 | &nbsp;&nbsp;&nbsp;(7979430) |
|  |  |  |  |  |  | $26979 | $(7981832) |

---

#### Credit default swap agreement outstanding at December 31, 2025 :

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)#(3)** | &nbsp;&nbsp;&nbsp;**Fair<br> Value** | &nbsp;&nbsp;&nbsp;**Upfront<br> Premiums<br> Paid<br> (Received)** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** | &nbsp;&nbsp;&nbsp;**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)^:** |
| GS_24-PCA | 08/02/27 | &nbsp;&nbsp;1.650%(M) | &nbsp;&nbsp;15000 &nbsp;&nbsp;\* | &nbsp;&nbsp; $21404 | &nbsp;&nbsp;$(4676) | &nbsp;&nbsp;$26080 | &nbsp;&nbsp;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 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

PGIM Securitized Credit Fund

------

#### PGIM Securitized Credit Fund

#### Schedule of Investments as of December 31, 2025 (unaudited) (continued)
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.

#### Interest rate swap agreements outstanding at December 31, 2025 :

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Floating<br> Rate** | &nbsp;&nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;&nbsp;**Value at<br> December 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**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:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** |
| 5215 | &nbsp;&nbsp;05/13/27 | &nbsp;&nbsp;4.497%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 3.870% | &nbsp;&nbsp;&nbsp;&nbsp; $(1662) | &nbsp;&nbsp;&nbsp;&nbsp; $(83297) | &nbsp;&nbsp;&nbsp;&nbsp; $(81635) |
| 183325 | &nbsp;&nbsp;11/11/28 | &nbsp;&nbsp;4.350%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 3.870% | &nbsp;&nbsp;&nbsp;&nbsp;(5285640) | &nbsp;&nbsp;&nbsp;&nbsp;(5180638) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105002 |
| 3245 | &nbsp;&nbsp;05/13/29 | &nbsp;&nbsp;4.253%(A) | &nbsp;&nbsp;1 Day SOFR(2)(A)/ 3.870% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87281 |
| 92400 | &nbsp;&nbsp;05/11/30 | &nbsp;&nbsp;4.150%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 3.870% | &nbsp;&nbsp;&nbsp;&nbsp;(1503868) | &nbsp;&nbsp;&nbsp;&nbsp;(2645605) | &nbsp;&nbsp;&nbsp;&nbsp;(1141737) |
|  |  |  |  | &nbsp;&nbsp;$(6788511) | &nbsp;&nbsp;$(7819600) | &nbsp;&nbsp;$(1031089) |

---

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

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

*Other information regarding the Fund is available in the Fund's most recent Report to Shareholders. This information is available on the Securities and Exchange Commission's website (www.sec.gov).*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Prudential Investment Portfolios 8

- **b. Investment Company Act file number:** 811-06677

- **c. CIK number of Registrant:** 0000887991

- **d. LEI of Registrant:** 549300VRUTQ35U0X1D46

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 655 Broad Street

  - **City:** Newark

  - **State:** NJ

  - **Foreign country:** US

  - **Zip / Postal Code:** 07102-4077

  - **Telephone number:** 1-800-225-1852

**Item A.2. Information about the Series.**

- **a. Name of Series:** PGIM Securitized Credit Fund

- **b. EDGAR series identifier (if any):** S000065752

- **c. LEI of Series:** 549300GWAUUOGWWFGS88

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $2542944597.18

**Total Liabilities:** $26400095.47

**Net Assets:** $2516544501.71

**Cash Not Reported:** $10913401.41

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 3410.62437000 | **1-Year:** 115677.12232000 | **5-Year:** 616568.42856000 | **10-Year:** 198885.68212000 | **30-Year:** 928.43545000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 494.81541000 | **1-Year:** 34287.49418000 | **5-Year:** 70520.73646000 | **10-Year:** 35769.88329000 | **30-Year:** 1228.88831000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000212600 | 0.44%                | 0.51%                | 0.54%                |
| Class ID C000212601 | 0.42%                | 0.49%                | 0.52%                |
| Class ID C000212602 | 0.46%                | 0.33%                | 0.46%                |
| Class ID C000212603 | 0.44%                | 0.52%                | 0.54%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1647740.35              | $-10195601.73                              |
| Month 2  | $746650.69               | $5464554.80                                |
| Month 3  | $465931.39               | $5348201.47                                |

**Designated Index Information**

- **Index Name:** PGIM Securitized Credit Fund_Ex Derivatives BM

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                             | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EUREX CLEARING AKTIENGESELLSCHAFT                | EURO-BOBL                                                    | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -5 | NC      | $4848.52      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.      | US 2YR NOTE (CBT)                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |     -1814 | NC      | $78345.54     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Senior Loan Fund LTD                       | Atlas Senior Loan Fund XV Ltd                                | CUSIP: 04942MAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4007619.60   | 0.16%             | 2032-10-23      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| PMT CREDIT RISK TRANSFER TRUST                   | PMT Credit Risk Transfer Trust 2024-2R                       | CUSIP: 69391NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5309991 | PA      | $5361335.15   | 0.21%             | 2027-03-29      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                         | Neuberger Berman Loan Advisers CLO 26 Ltd                    | CUSIP: 64131QAQ3<br>LEI: 549300P0MOXZPIM3AS61 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5018854.50   | 0.20%             | 2038-10-18      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Invesco Euro CLO XIV DAC                         | Invesco Euro CLO XIV DAC                                     | CUSIP: 000000000<br>LEI: 635400MNIFG73L1C7S65 | Long             | ABS-CBDO         | CORP              | IE        |   5000000 | PA      | $5896496.66   | 0.23%             | 2039-01-15      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit                   | Bain Capital Credit CLO 2022-4 Ltd                           | CUSIP: 05685BAQ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   8500000 | PA      | $8530075.55   | 0.34%             | 2037-10-16      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                      | FIGRE Trust 2025-HE4                                         | CUSIP: 31684PAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8145516 | PA      | $8207276.56   | 0.33%             | 2055-07-25      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS Mortgage Trust 2024-C24                                | CUSIP: 07336VBA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5200000 | PA      | $448737.64    | 0.02%             | 2057-02-15      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| DIAMOND SPORTS GRP LLC- WARRANTS                 | DIAMOND SPORTS GRP LLC- WARRANTS                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5916 | NS      | $0.06         | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Affirm Inc                                       | Affirm Asset Securitization Trust 2024-A                     | CUSIP: 00834BAK3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $902518.11    | 0.04%             | 2029-02-15      | Fixed         | 9.17%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-RCF1 LLC                                           | CUSIP: 74390RAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1766000 | PA      | $1724605.67   | 0.07%             | 2055-02-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.      | US 10YR ULTRA                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -217 | NC      | $78379.36     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2024-CES4                                | CUSIP: 74939FAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2335125 | PA      | $2362874.65   | 0.09%             | 2044-06-25      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2024-AIRC                       | CUSIP: 12433CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3838400 | PA      | $3845558.22   | 0.15%             | 2041-08-15      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-INV1 Trust                                          | CUSIP: 62916TAH2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  18944833 | PA      | $322062.15    | 0.01%             | 2070-02-25      | Variable      | 0.90%                 | No            |                  3 | On Loan: No      |
| Woodward Capital Management                      | Rckt Mortgage Trust 2025-CES4                                | CUSIP: 74937YAA6<br>LEI: 254900VY2F6O6C6XTD40 | Long             | ABS-MBS          | CORP              | US        |   5973274 | PA      | $6059137.91   | 0.24%             | 2055-04-25      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| Radnor Re LTD                                    | Radnor Re 2024-1 Ltd                                         | CUSIP: 75049AAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2612747 | PA      | $2626799.43   | 0.10%             | 2034-09-25      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| Northwoods Capital Ltd                           | Northwoods Capital 22 Ltd                                    | CUSIP: 66858HBC9<br>LEI: 254900SOJIZYDV6U1V46 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2003501.40   | 0.08%             | 2031-09-16      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2021-FCMT              | CUSIP: 95003EAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1098156.18   | 0.04%             | 2031-05-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Corp Trust 2024-RVR                   | CUSIP: 36272JAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8000000 | PA      | $8137448.80   | 0.32%             | 2041-08-10      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| Palmer Square European CLO                       | Palmer Square European CLO 2025-1 DAC                        | CUSIP: 000000000<br>LEI: 2549005G74H3SLK9WL32 | Long             | ABS-CBDO         | CORP              | IE        |  15000000 | PA      | $17691397.34  | 0.70%             | 2039-10-15      | Floating      | 3.86%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                          | ONE 2021-PARK Mortgage Trust                                 | CUSIP: 682413AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4987887.00   | 0.20%             | 2036-03-15      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                 | 3 MONTH SOFR                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       551 | NC      | $54091.67     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2021-FCMT              | CUSIP: 95003EAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    690000 | PA      | $688815.68    | 0.03%             | 2031-05-15      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| Bank                                             | BANK 2021-BNK38                                              | CUSIP: 06540EAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    206232 | PA      | $203364.88    | 0.01%             | 2064-12-15      | Fixed         | 1.27%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2024-MDHS                       | CUSIP: 12433BAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1461245 | PA      | $1465311.90   | 0.06%             | 2041-05-15      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                       | Affirm Asset Securitization Trust 2024-A                     | CUSIP: 00834BAJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1002121.00   | 0.04%             | 2029-02-15      | Fixed         | 6.89%                 | No            |                  2 | On Loan: No      |
| Toro European CLO                                | Toro European CLO 2 DAC                                      | CUSIP: 000000000<br>LEI: 213800UUXX2DYH3TCG21 | Long             | ABS-CBDO         | CORP              | IE        |   3000000 | PA      | $3528702.53   | 0.14%             | 2034-07-25      | Floating      | 3.92%                 | No            |                  2 | On Loan: No      |
| Barings Euro CLO DAC                             | Barings Euro CLO 2015-1 DAC                                  | CUSIP: 000000000<br>LEI: 635400AW6SPWCAGJKI82 | Long             | ABS-CBDO         | CORP              | IE        |   2000000 | PA      | $2349478.64   | 0.09%             | 2035-07-25      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| 20 TSQ GroundCo LLC                              | 20 Times Square Trust 2018-20TS                              | CUSIP: 90137LAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $84250.00     | 0.00%             | 2035-05-15      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable                   | Onemain Direct Auto Receivables Trust 2022-1                 | CUSIP: 68269DAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1100000 | PA      | $1103934.26   | 0.04%             | 2030-12-16      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T                   | EFMT 2025-INV1                                               | CUSIP: 26846XAA8<br>LEI: 2549005YTE90D77H8V23 | Long             | ABS-MBS          | CORP              | US        |   6956244 | PA      | $7024244.52   | 0.28%             | 2070-03-25      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| DI Issuer LLC                                    | Lmdv Issuer Co LLC                                           | CUSIP: 538908AE4<br>LEI: 254900A6HRP8XHJJGM20 | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4499550.00   | 0.18%             | 2055-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                     | EUR/USD FORWARD                                              | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $14250.82     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Octagon 59 Ltd                                   | Octagon 59 Ltd                                               | CUSIP: 675930AE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    600000 | PA      | $601053.84    | 0.02%             | 2035-05-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                        | BPR Trust 2021-TY                                            | CUSIP: 05592AAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    761000 | PA      | $760075.16    | 0.03%             | 2038-09-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                               | BX Trust 2019-OC11                                           | CUSIP: 05606FAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9700000 | PA      | $8946608.76   | 0.36%             | 2041-12-09      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2023-HE3                            | CUSIP: 465985AB5<br>LEI: 5299007DSRZLE19EYU93 | Long             | ABS-O            | CORP              | US        |    625435 | PA      | $628731.11    | 0.02%             | 2054-05-20      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                | Elevation CLO 2021-12 Ltd                                    | CUSIP: 28623MAW9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1503925.50   | 0.06%             | 2037-04-20      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust Series 2025-CES1                    | CUSIP: 46658XAC9<br>LEI: 5299003TKRYXBBT76K08 | Long             | ABS-MBS          | CORP              | US        |   5169766 | PA      | $5214577.01   | 0.21%             | 2055-05-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| GoodLeap Home Improvement Solu                   | GoodLeap Home Improvement Solutions Trust 2025-1             | CUSIP: 38237EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4913144 | PA      | $4982062.89   | 0.20%             | 2049-02-20      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Regatta XVI Funding Ltd.                         | Regatta XVI Funding Ltd                                      | CUSIP: 75888TAQ8<br>LEI: 254900XPJFGKL5R4O429 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3005245.80   | 0.12%             | 2033-01-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                             | LHOME Mortgage Trust 2025-RTL1                               | CUSIP: 50205UAA9<br>LEI: 5299002NGIWITLMXOH85 | Long             | ABS-MBS          | CORP              | US        |   7400000 | PA      | $7447804.00   | 0.30%             | 2040-01-25      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-INV1 Trust                                          | CUSIP: 62916TAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    370000 | PA      | $340260.07    | 0.01%             | 2070-02-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                       | EUR/USD FORWARD                                              | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-7455452.44  | -0.30%            |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2025-5                            | CUSIP: 92540XAD3<br>LEI: 213800Z7TIVJRAYLRV98 | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $4540321.35   | 0.18%             | 2070-06-25      | Variable      | 6.01%                 | No            |                  2 | On Loan: No      |
| GoodLeap Home Improvement Solu                   | GoodLeap Home Improvement Solutions Trust 2025-2             | CUSIP: 38238FAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5643391 | PA      | $5703142.85   | 0.23%             | 2049-06-20      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2025-6                            | CUSIP: 92540YAA7<br>LEI: 213800KZO2G8SSFFDH61 | Long             | ABS-MBS          | CORP              | US        |   5758288 | PA      | $5806642.10   | 0.23%             | 2070-07-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-CES1                          | CUSIP: 89183HAE4<br>LEI: 254900FMI2GPXLO84795 | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4073442.80   | 0.16%             | 2055-02-25      | Variable      | 6.87%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2024-CES9                                | CUSIP: 749426AD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6700000 | PA      | $6780218.43   | 0.27%             | 2044-12-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                          | ONE 2021-PARK Mortgage Trust                                 | CUSIP: 682413AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1494383.25   | 0.06%             | 2036-03-15      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-INV1 Trust                                          | CUSIP: 62916TAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $747741.90    | 0.03%             | 2070-02-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2025-NQM2 Trust                                          | CUSIP: 67120VAA3<br>LEI: 2549006BC0G3YEF5SL09 | Long             | ABS-MBS          | CORP              | US        |   3091563 | PA      | $3119095.30   | 0.12%             | 2064-11-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| Toro European CLO                                | Toro European CLO 10 DAC                                     | CUSIP: 000000000<br>LEI: 6354001HJSVF7BJWDP89 | Long             | ABS-CBDO         | CORP              | IE        |  10000000 | PA      | $11755490.34  | 0.47%             | 2038-04-15      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable                   | OneMain Direct Auto Receivables Trust 2025-1                 | CUSIP: 682684AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8359000 | PA      | $8572948.61   | 0.34%             | 2037-07-14      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                       | USD/GBP FORWARD                                              | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $9264.30      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2024-AIR2                       | CUSIP: 05613QAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2877540 | PA      | $2881117.79   | 0.11%             | 2041-10-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Carysfort Park CLO                               | Carysfort Park CLO DAC                                       | CUSIP: 000000000<br>LEI: 254900X3LEXBMRCA3Y50 | Long             | ABS-CBDO         | CORP              | IE        |   2000000 | PA      | $2332541.43   | 0.09%             | 2034-07-28      | Floating      | 3.31%                 | No            |                  2 | On Loan: No      |
| OFSI Fund LTD                                    | OFSI BSL XII Ltd                                             | CUSIP: 67629HAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  12950000 | PA      | $12956025.64  | 0.51%             | 2038-01-20      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2025-LUNR                                           | CUSIP: 05594CAK0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1242752 | PA      | $1245857.81   | 0.05%             | 2040-06-15      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| ICG US CLO Ltd                                   | ICG US Clo 2021-3 Ltd                                        | CUSIP: 449249AU5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2751062.60   | 0.11%             | 2034-10-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-INV1 Trust                                          | CUSIP: 62916TAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $575900.71    | 0.02%             | 2070-02-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                   | PRET 2025-NPL1 Trust                                         | CUSIP: 74143VAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5955428 | PA      | $5966399.47   | 0.24%             | 2055-02-25      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2024-CES9                                | CUSIP: 749426AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1654426 | PA      | $1671356.66   | 0.07%             | 2044-12-25      | Variable      | 5.58%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2024-CES3                                | CUSIP: 74942AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1838351 | PA      | $1865656.13   | 0.07%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| Contego CLO DAC                                  | Contego Clo V DAC                                            | CUSIP: 000000000<br>LEI: 549300RF10WJ1D9VYK55 | Long             | ABS-CBDO         | CORP              | IE        |   2250000 | PA      | $2640620.02   | 0.10%             | 2037-10-15      | Floating      | 3.73%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.      | US 5YR NOTE (CBT)                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -233 | NC      | $11627.79     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Sound Point CLO LTD                              | Sound Point CLO II Ltd                                       | CUSIP: 83608GAN6<br>LEI: 549300Q00FJ0WHHYC788 | Long             | ABS-CBDO         | CORP              | KY        |     53427 | PA      | $53427.60     | 0.00%             | 2031-01-26      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Cherry Securitization Trust                      | Cherry Securitization Trust 2025-1                           | CUSIP: 16473RAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10300000 | PA      | $10456877.24  | 0.42%             | 2032-11-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| DI Issuer LLC                                    | Lmdv Issuer Co LLC                                           | CUSIP: 538908AC8<br>LEI: 254900A6HRP8XHJJGM20 | Long             | ABS-O            | CORP              | US        |   3600000 | PA      | $3617055.25   | 0.14%             | 2055-12-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2025-B33RP             | CUSIP: 95004RAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9250000 | PA      | $9245905.95   | 0.37%             | 2042-08-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                        | BPR Trust 2023-BRK2                                          | CUSIP: 05610WAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $2076763.80   | 0.08%             | 2038-10-05      | Variable      | 8.34%                 | No            |                  2 | On Loan: No      |
| ELP Commercial Mortgage Trust                    | ELP Commercial Mortgage Trust 2025-ELP                       | CUSIP: 290154AJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6000000 | PA      | $6025717.80   | 0.24%             | 2042-11-13      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-RCF1 LLC                                           | CUSIP: 74390RAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1375026.38   | 0.05%             | 2055-02-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Island Finance Trust 2025-1                      | Island Finance Trust 2025-1                                  | CUSIP: 463920AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2024019.80   | 0.08%             | 2035-03-19      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2025-NQM10 Trust                                         | CUSIP: 67121LAD8<br>LEI: 254900NDJVO62R77II89 | Long             | ABS-MBS          | CORP              | US        |   3800000 | PA      | $3831891.50   | 0.15%             | 2065-05-25      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                | Battalion CLO XXIX Ltd                                       | CUSIP: 07135TAE9<br>LEI: 254900BHK74DPDADPT35 | Long             | ABS-CBDO         | CORP              | KY        |  12500000 | PA      | $12514201.25  | 0.50%             | 2038-03-31      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.      | US 10YR NOTE (CBT)                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -227 | NC      | $177525.75    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Power LLC                               | HERITAGE POWER LLC                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     13783 | PA      | $13507.23     | 0.00%             | 2028-07-20      | Floating      | 9.17%                 | No            |                  3 | On Loan: No      |
| OneMain Financial Issuance Tru                   | Onemain Financial Issuance Trust 2025-1                      | CUSIP: 68270DAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1821330.00   | 0.07%             | 2038-07-14      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                  | Venture XIX CLO Ltd                                          | CUSIP: 92330EAP2<br>LEI: 549300KIDQKDB48YU144 | Long             | ABS-CBDO         | CORP              | KY        |    613720 | PA      | $614192.06    | 0.02%             | 2032-01-15      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                              | Affirm Master Trust                                          | CUSIP: 00833BAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6044836.80   | 0.24%             | 2033-02-15      | Fixed         | 7.18%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4960423 | PA      | $4680381.93   | 0.19%             | 2064-01-25      | Variable      | 4.02%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T                   | EFMT 2025-INV3                                               | CUSIP: 26847NAD3<br>LEI: 254900C1B6ZW3SK54M36 | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $10121251.00  | 0.40%             | 2070-07-25      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                        | BPR Trust 2021-TY                                            | CUSIP: 05592AAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3050000 | PA      | $3046294.56   | 0.12%             | 2038-09-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                      | DBC 2025-DBC Mortgage Trust                                  | CUSIP: 23306HAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9650000 | PA      | $9649985.53   | 0.38%             | 2042-11-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Hayfin US XV, Ltd.                               | Hayfin US XV Ltd                                             | CUSIP: 420916AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5015594.50   | 0.20%             | 2037-04-28      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mor                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM8     | CUSIP: 61779QAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11549039 | PA      | $11555311.57  | 0.46%             | 2070-09-25      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| State Street Bank and Trust Company              | GBP/USD FORWARD                                              | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3463.50      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Static Senior Loan Fund                    | Atlas Static Senior Loan Fund I Ltd                          | CUSIP: 04942PAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    455105 | PA      | $455884.08    | 0.02%             | 2030-07-15      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                      | DBC 2025-DBC Mortgage Trust                                  | CUSIP: 23306HAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $2008911.60   | 0.08%             | 2042-11-15      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                          | ONE 2021-PARK Mortgage Trust                                 | CUSIP: 682413AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $996255.90    | 0.04%             | 2036-03-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Trust                           | Invitation Homes 2024-SFR1 Trust                             | CUSIP: 46188DAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1752977.16   | 0.07%             | 2041-09-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Evergreen Credit Card Trust                      | Evergreen Credit Card Trust                                  | CUSIP: 30023JCT3<br>LEI: 5493002G9KVV6J3CNU15 | Long             | ABS-O            | CORP              | CA        |   5000000 | PA      | $5036153.00   | 0.20%             | 2028-10-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                 | Connecticut Avenue Securities Trust 2022-R01                 | CUSIP: 20754LAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1347125.00   | 0.05%             | 2041-12-25      | Floating      | 9.87%                 | No            |                  2 | On Loan: No      |
| New York City Housing Developm                   | New York City Housing Development Corp                       | CUSIP: 64966TGS7<br>LEI: 549300SQWVHKBRF8D702 | Long             | ABS-MBS          | MUN               | US        |   4800000 | PA      | $4986419.31   | 0.20%             | 2043-12-15      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Invesco Euro CLO                                 | Invesco Euro CLO IV DAC                                      | CUSIP: 000000000<br>LEI: 549300LLUOZ9GWTWJV80 | Long             | ABS-CBDO         | CORP              | IE        |   2000000 | PA      | $2350456.88   | 0.09%             | 2033-04-15      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                   | PRET 2025-NPL5 LLC                                           | CUSIP: 74143LAA4<br>LEI: 2549000L41AJEKAJNL30 | Long             | ABS-O            | CORP              | US        |   6848075 | PA      | $6885889.26   | 0.27%             | 2055-05-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2025-NQM4 Trust                                          | CUSIP: 67120QAA4<br>LEI: 254900IAVXYLOCPK6W54 | Long             | ABS-MBS          | CORP              | US        |   6703885 | PA      | $6749764.74   | 0.27%             | 2055-02-25      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                | EURO-BUND                                                    | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -5 | NC      | $10278.42     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| 20 TSQ GroundCo LLC                              | 20 Times Square Trust 2018-20TS                              | CUSIP: 90137LAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    200000 | PA      | $173500.00    | 0.01%             | 2035-05-15      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| PMT CREDIT RISK TRANSFER TRUST                   | PMT Credit Risk Transfer Trust 2024-3R                       | CUSIP: 69392AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1984689 | PA      | $2009920.65   | 0.08%             | 2028-09-27      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                        | Anchorage Capital CLO 26 Ltd                                 | CUSIP: 03331TAS9<br>LEI: 5493004K3H2URWHGJT03 | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10042986.00  | 0.40%             | 2038-03-19      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    123808 | PA      | $82613.91     | 0.00%             | 2064-01-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                        | BPR Trust 2024-PMDW                                          | CUSIP: 05592VAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        | 149625000 | PA      | $945390.60    | 0.04%             | 2041-11-05      | Variable      | 0.21%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                     | CSMC 2014-USA OA LLC                                         | CUSIP: 12649AAA7<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |   2679334 | PA      | $2461267.41   | 0.10%             | 2037-09-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                               | BMO 2024-5C8 Mortgage Trust                                  | CUSIP: 09661XAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9929000 | PA      | $721675.46    | 0.03%             | 2057-12-15      | Variable      | 2.07%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu                   | GreenSky Home Improvement Issuer Trust 2025-3                | CUSIP: 39571WAG1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6400000 | PA      | $6406480.00   | 0.25%             | 2060-12-27      | Fixed         | 7.83%                 | No            |                  2 | On Loan: No      |
| Canyon Euro CLO DAC                              | Canyon Euro CLO 2025-1 DAC                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |  10000000 | PA      | $11791565.46  | 0.47%             | 2038-04-15      | Floating      | 3.81%                 | No            |                  2 | On Loan: No      |
| Jubilee CDO BV                                   | Jubilee CLO 2016-XVII DAC                                    | CUSIP: 000000000<br>LEI: 635400JSFGFQPD2VOA16 | Long             | ABS-CBDO         | CORP              | IE        |    500000 | PA      | $585772.56    | 0.02%             | 2031-04-15      | Floating      | 3.29%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                   | GBP/USD FORWARD                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-427854.30   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-83297.21    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                 | COLT 2025-8 Mortgage Loan Trust                              | CUSIP: 19689DAD1<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |   3012000 | PA      | $3047804.55   | 0.12%             | 2070-08-25      | Variable      | 6.21%                 | No            |                  2 | On Loan: No      |
| Atlas Senior Loan Fund LTD                       | Atlas Senior Loan Fund XI Ltd                                | CUSIP: 04941YAC3<br>LEI: 635400RPGP64VI1SZW03 | Long             | ABS-CBDO         | CORP              | KY        |     15973 | PA      | $15975.11     | 0.00%             | 2031-07-26      | Floating      | 5.22%                 | Yes           |                  2 | On Loan: No      |
| CQS US CLO Ltd                                   | CQS US CLO 2021-1 Ltd                                        | CUSIP: 12659UAN2<br>LEI: 549300GF7PVRIKZNMY06 | Long             | ABS-CBDO         | CORP              | KY        |   7000000 | PA      | $7014776.30   | 0.28%             | 2035-01-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                             | Cross 2025-H10 Mortgage Trust                                | CUSIP: 22758YAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2636000 | PA      | $2638212.92   | 0.10%             | 2071-01-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     92866 | PA      | $57862.91     | 0.00%             | 2064-01-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| CBAM CLO Management                              | Cbam 2018-7 Ltd                                              | CUSIP: 12482JAA8<br>LEI: 2549002XHTMWO4GGPF51 | Long             | ABS-CBDO         | CORP              | KY        |    109032 | PA      | $109030.84    | 0.00%             | 2031-07-20      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-INV1 Trust                                          | CUSIP: 62916TAK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  18944833 | PA      | $138062.36    | 0.01%             | 2070-02-25      | Variable      | 0.40%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                             | Signal Peak CLO 7 Ltd                                        | CUSIP: 82671EAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6021918.00   | 0.24%             | 2037-10-20      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust                         | NRTH Commercial Mortgage Trust 2025-PARK                     | CUSIP: 669985AE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9200000 | PA      | $9222976.08   | 0.37%             | 2040-10-15      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                        | CIM Trust 2025-I1                                            | CUSIP: 12571DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6063368 | PA      | $6133776.64   | 0.24%             | 2069-10-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-5181456.82  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| BSTN Commercial Mortgage Trust                   | BSTN Commercial Mortgage Trust 2025-1C                       | CUSIP: 05615EAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2875000 | PA      | $2974306.24   | 0.12%             | 2044-06-15      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Pass-throu                   | ILPT Commercial Mortgage Trust 2025-LPF2                     | CUSIP: 451955AC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3250000 | PA      | $3305964.68   | 0.13%             | 2042-07-13      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO XVI, LTD.                       | Sixth Street CLO XV Ltd                                      | CUSIP: 83012BAC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6760000 | PA      | $6783601.86   | 0.27%             | 2037-10-24      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                | Battalion Clo 17 Ltd                                         | CUSIP: 07133PAL3<br>LEI: 549300QQUW46V6EB1N30 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000972.60   | 0.08%             | 2034-03-09      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Trust                           | Invitation Homes 2024-SFR1 Trust                             | CUSIP: 46188DAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2400000 | PA      | $2341616.64   | 0.09%             | 2041-09-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                          | ONE 2021-PARK Mortgage Trust                                 | CUSIP: 682413AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    850000 | PA      | $847250.25    | 0.03%             | 2036-03-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                   | Santander Drive Auto Receivables Trust 2025-1                | CUSIP: 80288DAF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3046779.00   | 0.12%             | 2031-03-17      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| Kapitus Asset Securitization L                   | Kapitus Asset Securitization V LLC                           | CUSIP: 48555NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4515950.70   | 0.18%             | 2032-04-10      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Net, LLC                          | DIAMOND SPORTS NET LLC                                       | CUSIP: 25277EAB8<br>LEI: 549300MPO5H6LGX4RJ82 | Long             | LON              | CORP              | US        |     23466 | PA      | $8146.06      | 0.00%             | 2028-01-02      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| Mountain View CLO Ltd                            | Mountain View CLO IX Ltd                                     | CUSIP: 62432BAQ6<br>LEI: 549300URXZ1TS31FK720 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $750196.88    | 0.03%             | 2031-07-15      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-2646205.59  | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2024-CES8                                | CUSIP: 749421AD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1900000 | PA      | $1912558.81   | 0.08%             | 2044-11-25      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| Lugo Funding DAC                                 | Lugo Funding DAC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |   3535000 | PA      | $4024783.31   | 0.16%             | 2066-05-26      | Floating      | 4.06%                 | No            |                  2 | On Loan: No      |
| BOF URSA FUNDING                                 | Bayview Opportunity Master Fund VII Trust 2024-SN1           | CUSIP: 072926AF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1021261.00   | 0.04%             | 2029-07-16      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2024-RP2                       | CUSIP: 173106AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    593449 | PA      | $529474.43    | 0.02%             | 2063-02-25      | Variable      | 4.23%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS Mortgage Trust 2024-5C25                               | CUSIP: 05554VAH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14404000 | PA      | $1214679.24   | 0.05%             | 2057-03-15      | Variable      | 3.14%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS 2016-ETC Mortgage Trust                                | CUSIP: 05491LAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $235781.70    | 0.01%             | 2036-08-14      | Variable      | 3.61%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    232164 | PA      | $175016.95    | 0.01%             | 2064-01-25      | Variable      | 4.02%                 | No            |                  2 | On Loan: No      |
| Indigo Credit Management                         | Indigo Credit Management II DAC                              | CUSIP: 000000000<br>LEI: 635400ZBUBZKOZYRMX14 | Long             | ABS-CBDO         | CORP              | IE        |   5250000 | PA      | $6188913.42   | 0.25%             | 2038-07-15      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Monument CLO                                     | Monument Clo 1 DAC                                           | CUSIP: 000000000<br>LEI: 254900PSVC5Y0GWN0R36 | Long             | ABS-CBDO         | CORP              | IE        |   3000000 | PA      | $3539424.94   | 0.14%             | 2037-05-15      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                       | Affirm Asset Securitization Trust 2024-B                     | CUSIP: 00835AAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501470.75    | 0.02%             | 2029-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                        | IRS USD                                                      | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $89940.10     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Hayfin Emerald CLO                               | Hayfin Emerald CLO XIV DAC                                   | CUSIP: 000000000<br>LEI: 635400DTCNEUJDSEHR95 | Long             | ABS-CBDO         | CORP              | IE        |  11000000 | PA      | $12936895.40  | 0.51%             | 2039-01-22      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                    | Exeter Automobile Receivables Trust                          | CUSIP: 30166XAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2030971.60   | 0.08%             | 2031-10-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                     | Ares XLI Clo Ltd                                             | CUSIP: 04016DAU9<br>LEI: 549300X38KZ67Q2FQG11 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001450.10   | 0.04%             | 2034-04-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| IP 2025-IP Mortgage Trust                        | IP 2025-IP Mortgage Trust                                    | CUSIP: 449843AJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2160000 | PA      | $2201892.77   | 0.09%             | 2042-06-10      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Signal Harmonic CLO                              | Signal Harmonic CLO I DAC                                    | CUSIP: 000000000<br>LEI: 635400CPGNMPPUYRUY64 | Long             | ABS-CBDO         | CORP              | IE        |  11500000 | PA      | $13524787.44  | 0.54%             | 2038-07-15      | Floating      | 3.97%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                             | FREMF 2019-K735 Mortgage Trust                               | CUSIP: 30298FAG9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  71912098 | PA      | $8197.98      | 0.00%             | 2026-05-25      | Fixed         | 0.10%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    198120 | PA      | $139478.38    | 0.01%             | 2064-01-25      | Variable      | 0.18%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-2 LLC                                              | CUSIP: 69382HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4722139 | PA      | $4730949.89   | 0.19%             | 2030-05-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| Gallatin Funding Ltd                             | Gallatin CLO X 2023-1 Ltd                                    | CUSIP: 36362MAQ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |  10000000 | PA      | $10032057.00  | 0.40%             | 2036-10-14      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2015-C21  | CUSIP: 61764XAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7558028 | PA      | $75.58        | 0.00%             | 2048-03-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2024-RCF6 LLC                                           | CUSIP: 74390FAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $676539.22    | 0.03%             | 2064-10-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2024-PURE                       | CUSIP: 74625PAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | CA        |   1918484 | PA      | $1401240.99   | 0.06%             | 2041-11-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mor                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM2     | CUSIP: 617941AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8948316 | PA      | $9020455.45   | 0.36%             | 2070-01-25      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| BSTN Commercial Mortgage Trust                   | BSTN Commercial Mortgage Trust 2025-1C                       | CUSIP: 05615EAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3850000 | PA      | $3970235.12   | 0.16%             | 2044-06-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                              | Freddie Mac STACR REMIC Trust 2020-DNA6                      | CUSIP: 35566CBD6<br>LEI: 5493000ITBQFEOXM0S98 | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $800765.70    | 0.03%             | 2050-12-25      | Floating      | 6.87%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     74293 | PA      | $35903.67     | 0.00%             | 2064-01-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trus                   | Durst Commercial Mortgage Trust 2025-151                     | CUSIP: 266895AE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2745000 | PA      | $2798906.86   | 0.11%             | 2042-08-10      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital Europe CLO                     | Anchorage Capital Europe CLO 6 DAC                           | CUSIP: 000000000<br>LEI: 635400ZNDJ8ARDAHOM33 | Long             | ABS-CBDO         | CORP              | IE        |  14750000 | PA      | $17344806.80  | 0.69%             | 2038-10-22      | Floating      | 3.99%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust Series 2025-NQM2                    | CUSIP: 46590SAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6400745 | PA      | $6455089.71   | 0.26%             | 2065-09-25      | Variable      | 5.77%                 | No            |                  2 | On Loan: No      |
| Marble Point CLO XVIII Ltd                       | Marble Point CLO XVIII Ltd                                   | CUSIP: 566076BE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $15038386.50  | 0.60%             | 2038-03-15      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| ALA Trust                                        | ALA Trust 2025-OANA                                          | CUSIP: 009920AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7860000 | PA      | $7889460.85   | 0.31%             | 2040-06-15      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2024-AIR2                       | CUSIP: 05613QAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2973458 | PA      | $2979004.83   | 0.12%             | 2041-10-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                             | SCG Trust 2025-SNIP                                          | CUSIP: 78398JAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3013115.40   | 0.12%             | 2042-09-15      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                 | Connecticut Avenue Securities Trust 2024-R05                 | CUSIP: 20754XAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $1756020.00   | 0.07%             | 2044-07-25      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                   | BRAVO Residential Funding Trust 2025-NQM2                    | CUSIP: 10569NAC5<br>LEI: 254900TZWRKTBX2YNW23 | Long             | ABS-MBS          | CORP              | US        |   3335025 | PA      | $3367345.09   | 0.13%             | 2064-11-25      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                   | ARES Trust 2025-IND3                                         | CUSIP: 039955AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3640000 | PA      | $3644528.52   | 0.14%             | 2042-04-15      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| ICG Euro CLO                                     | ICG Euro CLO 2023-1 DAC                                      | CUSIP: 000000000<br>LEI: 635400IDZDV7D9IJ8J46 | Long             | ABS-CBDO         | CORP              | IE        |  10000000 | PA      | $11719535.10  | 0.47%             | 2038-10-19      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                | Elevation Clo 2021-15 Ltd                                    | CUSIP: 28623VAU3<br>LEI: 5493005VN5WX000OV470 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2008983.20   | 0.08%             | 2035-01-25      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| BLP Commercial Mortgage Trust                    | BLP Commercial Mortgage Trust 2025-IND2                      | CUSIP: 05556WAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7675000 | PA      | $7684590.68   | 0.31%             | 2042-12-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAK1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     70623 | PA      | $28114.68     | 0.00%             | 2064-01-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Ocean Trails CLO                                 | Ocean Trails CLO XV Ltd                                      | CUSIP: 67515BAC6<br>LEI: 5493000CJCL8E235WY49 | Long             | ABS-CBDO         | CORP              | JE        |   3000000 | PA      | $3001741.80   | 0.12%             | 2037-01-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                                 | SLG Office Trust 2021-OVA                                    | CUSIP: 78449RAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3452866.80   | 0.14%             | 2041-07-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                             | Signal Peak CLO 9 Ltd                                        | CUSIP: 82670QAS8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10415000 | PA      | $10422908.11  | 0.41%             | 2038-01-21      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                             | CUSIP: 91282CME8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    540000 | PA      | $543733.59    | 0.02%             | 2026-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BOF URSA FUNDING                                 | Bayview Opportunity Master Fund VII Trust 2024-CAR1F         | CUSIP: 07336MAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    310343 | PA      | $310393.96    | 0.01%             | 2032-07-29      | Fixed         | 6.97%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust                         | NRTH Commercial Mortgage Trust 2025-PARK                     | CUSIP: 669985AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4900000 | PA      | $4904592.77   | 0.19%             | 2040-10-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Atlas Senior Loan Fund LTD                       | Atlas Senior Loan Fund XXIV Ltd                              | CUSIP: 04943PAE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8000000 | PA      | $8019172.80   | 0.32%             | 2038-01-20      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Capital Four CLO                                 | Capital Four CLO X DAC                                       | CUSIP: 000000000<br>LEI: 254900PXJCJG50SO9P20 | Long             | ABS-CBDO         | CORP              | IE        |   8900000 | PA      | $10490120.23  | 0.42%             | 2038-10-25      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XXXIX Ltd                               | CUSIP: 55821LAL8<br>LEI: 254900K0MU6TXERK4I83 | Long             | ABS-CBDO         | CORP              | KY        |   4750000 | PA      | $4752380.23   | 0.19%             | 2034-10-22      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Ondeck Asset Securitization Tr                   | OnDeck Asset Securitization IV LLC                           | CUSIP: 68237DAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4800000 | PA      | $4833727.68   | 0.19%             | 2032-04-19      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Taurus CMBS                                      | Taurus 2025-3 UK Designated Activity Co                      | CUSIP: 000000000<br>LEI: 635400XWNSMBWUUQIW58 | Long             | ABS-MBS          | CORP              | IE        |   1500000 | PA      | $2026846.37   | 0.08%             | 2035-07-20      | Floating      | 7.73%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-FIX1                          | CUSIP: 89183MAA1<br>LEI: 2549009GWN99QN2XSG71 | Long             | ABS-O            | CORP              | US        |   4722088 | PA      | $4722771.45   | 0.19%             | 2065-09-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| Wireless PropCo Funding LLC                      | Wireless PropCo Funding LLC                                  | CUSIP: 97655EAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $5822596.80   | 0.23%             | 2055-06-25      | Fixed         | 4.07%                 | No            |                  2 | On Loan: No      |
| Laurel Road Prime Student Loan                   | Laurel Road Prime Student Loan Trust 2019-A                  | CUSIP: 51889RAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    731169 | PA      | $311045.99    | 0.01%             | 2048-10-25      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| 20 TSQ GroundCo LLC                              | 20 Times Square Trust 2018-20TS                              | CUSIP: 90137LAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    520000 | PA      | $466700.00    | 0.02%             | 2035-05-15      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| Grosvenor Place CLO BV                           | Grosvenor Place Clo 2025-3 DAC                               | CUSIP: 000000000<br>LEI: 635400EREZCEXMLLMF26 | Long             | ABS-CBDO         | CORP              | IE        |  10000000 | PA      | $11778934.41  | 0.47%             | 2039-08-15      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                             | LHOME Mortgage Trust 2024-RTL5                               | CUSIP: 50205WAA5<br>LEI: 529900ZQNJ23BIJVY871 | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4007516.40   | 0.16%             | 2039-09-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| BSTN Commercial Mortgage Trust                   | BSTN Commercial Mortgage Trust 2025-1C                       | CUSIP: 05615EAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2775000 | PA      | $2883567.44   | 0.11%             | 2044-06-15      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                 | CIFC Funding 2017-V Ltd                                      | CUSIP: 12551MAL3<br>LEI: 635400BTAKRBKGRV3X14 | Long             | ABS-CBDO         | CORP              | KY        |   6700000 | PA      | $6724508.60   | 0.27%             | 2037-07-17      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                    | GS Mortgage-Backed Securities Trust 2024-HE1                 | CUSIP: 36270AAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3665861 | PA      | $3673590.79   | 0.15%             | 2054-08-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Tikehau CLO IX DAC                               | Tikehau Clo IX DAC                                           | CUSIP: 000000000<br>LEI: 635400WF4D7I3IFMCZ19 | Long             | ABS-CBDO         | CORP              | IE        |   4000000 | PA      | $4702482.89   | 0.19%             | 2037-01-20      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.                                 | Empower CLO 2023-2 Ltd                                       | CUSIP: 29247BAU1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2000197.40   | 0.08%             | 2038-10-15      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     58821 | PA      | $33513.41     | 0.00%             | 2064-01-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trus                   | Durst Commercial Mortgage Trust 2025-151                     | CUSIP: 266895AG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $2065887.80   | 0.08%             | 2042-08-10      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2021-FCMT              | CUSIP: 95003EAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1001042.60   | 0.04%             | 2031-05-15      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                | Elevation Clo 2021-15 Ltd                                    | CUSIP: 28623VAS8<br>LEI: 5493005VN5WX000OV470 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3000752.10   | 0.12%             | 2035-01-25      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                             | SCG Trust 2025-SNIP                                          | CUSIP: 78398JAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $4514052.15   | 0.18%             | 2042-09-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                             | CUSIP: 91282CMH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    550000 | PA      | $553501.95    | 0.02%             | 2027-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Crosthwaite Park CLO                             | Crosthwaite Park CLO DAC                                     | CUSIP: 000000000<br>LEI: 54930071G03PWEE1JC86 | Long             | ABS-CBDO         | CORP              | IE        |   1500000 | PA      | $1759180.09   | 0.07%             | 2034-03-15      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| Marble Point CLO XXI Ltd.                        | Marble Point CLO XXI Ltd                                     | CUSIP: 56606KAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500319.60    | 0.02%             | 2034-10-17      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| SUNRUN CALLISTO ISSUER LLC                       | Sunrun Vesta Issuer 2024-3 LLC                               | CUSIP: 86773AAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2073892 | PA      | $2015238.10   | 0.08%             | 2059-10-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                               | Tricon Residential 2025-SFR1 Trust                           | CUSIP: 895974AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4400000 | PA      | $4403115.64   | 0.17%             | 2042-03-17      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                             | Cross 2025-H2 Mortgage Trust                                 | CUSIP: 22758PAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6998082 | PA      | $7036846.14   | 0.28%             | 2070-03-25      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| STREAM INNOVATIONS ISSUER TRUS                   | Stream Innovations 2025-1 Issuer Trust                       | CUSIP: 86324XAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3178005 | PA      | $3211409.43   | 0.13%             | 2045-09-15      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                   | Bravo Residential Funding Trust 2025-NQM9                    | CUSIP: 10569WAE1<br>LEI: 254900XY2WSFF1Q6S467 | Long             | ABS-MBS          | CORP              | US        |   4828491 | PA      | $4857308.90   | 0.19%             | 2065-09-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Marathon CLO LTD                                 | Marathon CLO 2020-15 Ltd                                     | CUSIP: 56579UBE5<br>LEI: 549300T57AS4PEWI4U14 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5016945.00   | 0.20%             | 2037-08-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                    | GS Mortgage-Backed Securities Trust 2024-HE2                 | CUSIP: 36271AAB9<br>LEI: 254900W4Z6DJOVCWAH28 | Long             | ABS-O            | CORP              | US        |   3600000 | PA      | $3611552.40   | 0.14%             | 2055-01-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T                   | EFMT 2025-CES1                                               | CUSIP: 26846VAA2<br>LEI: 254900CMJGXNT3R7H775 | Long             | ABS-MBS          | CORP              | US        |   5487898 | PA      | $5548887.14   | 0.22%             | 2060-01-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                          | ONE 2021-PARK Mortgage Trust                                 | CUSIP: 682413AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $398755.00    | 0.02%             | 2036-03-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                                 | Bellemeade Re Ltd                                            | CUSIP: 078915AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   4600000 | PA      | $4634961.38   | 0.18%             | 2034-08-25      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Genesis Sales Finance Master T                   | Genesis Sales Finance Master Trust                           | CUSIP: 37186XAY1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5667000 | PA      | $5742692.42   | 0.23%             | 2032-12-20      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| CBAMR Ltd                                        | CBAMR 2018-8 Ltd                                             | CUSIP: 12478CBA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2009051.60   | 0.08%             | 2037-07-15      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                          | NYMT Loan Trust 2025-INV2                                    | CUSIP: 62957JAC5<br>LEI: 254900EYRFLK2LMLVT67 | Long             | ABS-MBS          | CORP              | US        |   7417830 | PA      | $7454579.34   | 0.30%             | 2060-10-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Allen Media LLC                                  | Allen Media LLC                                              | CUSIP: 01771JAG8<br>LEI: 549300ERNJNM4RN5JP79 | Long             | LON              | CORP              | US        |    258181 | PA      | $179972.57    | 0.01%             | 2027-02-10      | Floating      | 9.65%                 | No            |                  2 | On Loan: No      |
| Babson Euro CLO B.V.                             | Barings Euro CLO 2021-1 DAC                                  | CUSIP: 000000000<br>LEI: 549300D83T2O13OUPP03 | Long             | ABS-CBDO         | CORP              | IE        |   2198244 | PA      | $2571846.06   | 0.10%             | 2034-04-24      | Floating      | 2.87%                 | No            |                  2 | On Loan: No      |
| CQS US CLO Ltd                                   | CQS US CLO 2023-3 Ltd                                        | CUSIP: 223929AJ9<br>LEI: 254900OIQPM0JE7KVZ52 | Long             | ABS-CBDO         | CORP              | JE        |   1000000 | PA      | $1013106.10   | 0.04%             | 2037-01-25      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                         | USD/EUR FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-32453.95    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DBMS                                             | DBMS 2025-1 DAC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |   9250000 | PA      | $12481903.77  | 0.50%             | 2036-02-18      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin                   | Santander Bank Auto Credit-Linked Notes Series 2023-A        | CUSIP: 80290CBX1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3497 | PA      | $3503.32      | 0.00%             | 2033-06-15      | Fixed         | 10.07%                | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2025-BCAT                       | CUSIP: 12433HAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9199534 | PA      | $9181202.52   | 0.36%             | 2042-08-15      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| SUNRUN CALLISTO ISSUER LLC                       | Sunrun Vesta Issuer 2024-3 LLC                               | CUSIP: 86773AAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    540394 | PA      | $532451.31    | 0.02%             | 2059-10-30      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                    | NYC Commercial Mortgage Trust 2025-3BP                       | CUSIP: 67120UAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $10037570.00  | 0.40%             | 2042-02-15      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Nassau LTD                                       | Nassau 2021-I Ltd                                            | CUSIP: 631704AK9<br>LEI: 5493000NDRKPTT45F149 | Long             | ABS-CBDO         | CORP              | KY        |  14950000 | PA      | $14976969.80  | 0.60%             | 2034-08-26      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust                         | NRTH Commercial Mortgage Trust 2025-PARK                     | CUSIP: 669985AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4001249.60   | 0.16%             | 2040-10-15      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                                | Wellfleet CLO 2022-2 Ltd                                     | CUSIP: 94949FAS2<br>LEI: 2549008BRKHJZB917M86 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5012162.50   | 0.20%             | 2037-10-18      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                     | Huntington Bank Auto Credit-Linked Notes Series 2024-2       | CUSIP: 44644NAK5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000545 | PA      | $1012543.54   | 0.04%             | 2032-10-20      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                              | Affirm Master Trust Series 2025-3                            | CUSIP: 00833BAS7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4995987.00   | 0.20%             | 2034-10-16      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                             | Signal Peak CLO 12 Ltd                                       | CUSIP: 82671XAS2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2000000 | PA      | $2002791.80   | 0.08%             | 2037-07-18      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2024-1CHI              | CUSIP: 95003PAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3500000 | PA      | $3543656.20   | 0.14%             | 2035-07-15      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS 2018-CHRS Mortgage Trust                               | CUSIP: 05491VAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $914432.00    | 0.04%             | 2038-08-05      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                       | BFLD 2024-VICT Mortgage Trust                                | CUSIP: 05555VAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3900000 | PA      | $3890260.53   | 0.15%             | 2041-07-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Nassau Euro CLO DAC                              | Nassau Euro CLO II DAC                                       | CUSIP: 000000000<br>LEI: 549300Z3XUKK0APT1D50 | Long             | ABS-CBDO         | CORP              | IE        |  15000000 | PA      | $17594401.03  | 0.70%             | 2039-04-25      | Floating      | 3.96%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                   | OneMain Financial Issuance Trust 2023-2                      | CUSIP: 68269HAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2590041.25   | 0.10%             | 2036-09-15      | Fixed         | 7.52%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-ACNT                       | CUSIP: 05609QAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1806855 | PA      | $1804676.01   | 0.07%             | 2038-11-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| MetroNet Infrastructure Issuer                   | MetroNet Infrastructure Issuer LLC                           | CUSIP: 59170JBB3<br>LEI: 5493000BIROCAEATAQ61 | Long             | ABS-O            | CORP              | US        |   7500000 | PA      | $7707714.75   | 0.31%             | 2055-08-20      | Fixed         | 7.83%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2025-BCAT                       | CUSIP: 12433HAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7666279 | PA      | $7685372.32   | 0.31%             | 2042-08-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2024-CES3                          | CUSIP: 89183EAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1118618.05   | 0.04%             | 2064-05-25      | Variable      | 6.81%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2024-RP2                       | CUSIP: 173106AH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    298036 | PA      | $25735.39     | 0.00%             | 2063-02-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WHARF Commercial Mortgage Trus                   | WHARF Commercial Mortgage Trust 2025-DC                      | CUSIP: 92987LAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5690000 | PA      | $5886073.99   | 0.23%             | 2040-07-15      | Variable      | 6.61%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2021-XL2                        | CUSIP: 05609KAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2292500 | PA      | $2289658.90   | 0.09%             | 2038-10-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                   | JPMBB Commercial Mortgage Securities Trust 2015-C33          | CUSIP: 46645JAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1531547 | PA      | $20.06        | 0.00%             | 2048-12-15      | Variable      | 0.52%                 | No            |                  2 | On Loan: No      |
| Polen Capital CLO Ltd                            | Polen Capital CLO 2025-1 Ltd                                 | CUSIP: 73110MAG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7000000 | PA      | $7019496.40   | 0.28%             | 2038-03-06      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                         | Benchmark 2024-V6 Mortgage Trust                             | CUSIP: 081927AH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8633500 | PA      | $785045.02    | 0.03%             | 2057-03-15      | Variable      | 3.26%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                 | Trinitas CLO XXIV Ltd                                        | CUSIP: 89642XAE4<br>LEI: 254900AOUW3M5TVDRO96 | Long             | ABS-CBDO         | CORP              | BM        |   2500000 | PA      | $2502819.50   | 0.10%             | 2037-04-25      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| ALA Trust                                        | ALA Trust 2025-OANA                                          | CUSIP: 009920AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6500000 | PA      | $6516242.20   | 0.26%             | 2040-06-15      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| NGC Ltd                                          | NGC 2024-I Ltd                                               | CUSIP: 652927AJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   3500000 | PA      | $3503100.65   | 0.14%             | 2037-07-20      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                             | CUSIP: 91282CLP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $249833.98    | 0.01%             | 2026-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square European CLO                       | Palmer Square European CLO 2022-2 DAC                        | CUSIP: 000000000<br>LEI: 549300NBMUBW6AHGY771 | Long             | ABS-CBDO         | CORP              | IE        |   8000000 | PA      | $9424815.37   | 0.37%             | 2038-01-15      | Floating      | 4.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                 | Connecticut Avenue Securities Trust 2023-R05                 | CUSIP: 207942AB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $622225.68    | 0.02%             | 2043-06-25      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| Balboa Bay Loan Funding Ltd                      | Balboa Bay Loan Funding 2024-2 Ltd                           | CUSIP: 05765AAE1<br>LEI: 254900FG1DS8PNX30R63 | Long             | ABS-CBDO         | CORP              | KY        |   9000000 | PA      | $9030519.00   | 0.36%             | 2038-01-20      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU 2019-1 Ltd                         | Trimaran CAVU 2022-1 Ltd                                     | CUSIP: 89623VAN1<br>LEI: 549300UZ4DECMUVOVS09 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2001578.60   | 0.08%             | 2037-10-22      | Floating      | 5.71%                 | No            |                  2 | On Loan: No      |
| Ocean Trails CLO                                 | Ocean Trails CLO XV Ltd                                      | CUSIP: 67515BAG7<br>LEI: 5493000CJCL8E235WY49 | Long             | ABS-CBDO         | CORP              | JE        |   2000000 | PA      | $2001212.40   | 0.08%             | 2037-01-15      | Floating      | 8.60%                 | No            |                  2 | On Loan: No      |
| Bastille Funding                                 | Bastille Euro CLO 2020-3 DAC                                 | CUSIP: 000000000<br>LEI: 2138006IJX5FOJF25485 | Long             | ABS-CBDO         | CORP              | IE        |   7750000 | PA      | $9164759.27   | 0.36%             | 2039-01-15      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                  | Venture 49 CLO Ltd                                           | CUSIP: 922972AE4<br>LEI: 254900CWURXJKKIUGG97 | Long             | ABS-CBDO         | CORP              | KY        |    800000 | PA      | $802701.28    | 0.03%             | 2037-04-20      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Avoca CLO                                        | Avoca Capital CLO X Ltd                                      | CUSIP: 000000000<br>LEI: 635400SFFWCTHJHBZK84 | Long             | ABS-CBDO         | CORP              | IE        |    750000 | PA      | $877032.66    | 0.03%             | 2035-04-15      | Floating      | 3.38%                 | No            |                  2 | On Loan: No      |
| LINCT 2024-1 A1X                                 | LINCT 2024-1 A1X                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20000000.00  | 0.79%             | 2027-06-27      | Floating      | 2.75%                 | No            |                  3 | On Loan: No      |
| KKR Financial CLO Ltd                            | KKR Clo 32 Ltd                                               | CUSIP: 482937AB5<br>LEI: 5493004Y6G18HN4CQ515 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3010815.00   | 0.12%             | 2037-04-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| VNO Mortgage Trust                               | VNDO Trust 2016-350P                                         | CUSIP: 91831UAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10475000 | PA      | $10318066.69  | 0.41%             | 2035-01-10      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                | Elevation CLO 2021-12 Ltd                                    | CUSIP: 28623MBE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1508544.75   | 0.06%             | 2037-04-20      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                | Elevation Clo 2021-13 Ltd                                    | CUSIP: 28622EAW8<br>LEI: 549300YZ3RIOTSOP0V95 | Long             | ABS-CBDO         | CORP              | KY        |  13950000 | PA      | $13966137.36  | 0.55%             | 2034-07-15      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| PENTA CLO 3 DESIGNATED ACTIVIT                   | Penta CLO 3 DAC                                              | CUSIP: 000000000<br>LEI: 6354005OXNNWWOAOCX44 | Long             | ABS-CBDO         | CORP              | IE        |  10000000 | PA      | $11768978.11  | 0.47%             | 2038-10-17      | Floating      | 3.82%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                               | BMO 2024-5C3 Mortgage Trust                                  | CUSIP: 09660QAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12604000 | PA      | $976283.15    | 0.04%             | 2057-02-15      | Variable      | 2.86%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                   | ARES Trust 2025-IND3                                         | CUSIP: 039955AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8050000 | PA      | $8065026.94   | 0.32%             | 2042-04-15      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2024-RP2                       | CUSIP: 173106AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    164547 | PA      | $21372.32     | 0.00%             | 2063-02-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                             | Signal Peak CLO 11 Ltd                                       | CUSIP: 82666XAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $15052410.00  | 0.60%             | 2037-07-18      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| ROC Securities Trust                             | Roc Mortgage Trust 2025-RTL1                                 | CUSIP: 77119RAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8800000 | PA      | $8846885.52   | 0.35%             | 2040-02-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-RPL1 LLC                                           | CUSIP: 74390WAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9994758 | PA      | $9827679.21   | 0.39%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Tricon Residential                               | Tricon Residential 2025-SFR1 Trust                           | CUSIP: 895974AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4250000 | PA      | $4255020.53   | 0.17%             | 2042-03-17      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS 2016-ETC Mortgage Trust                                | CUSIP: 05491LAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $96395.37     | 0.00%             | 2036-08-14      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| Gallatin Funding Ltd                             | Gallatin CLO XI 2024-1 Ltd                                   | CUSIP: 36362HAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |   5000000 | PA      | $5014890.00   | 0.20%             | 2037-10-20      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2022-AHP                        | CUSIP: 05610FAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1010000 | PA      | $1007052.32   | 0.04%             | 2039-01-17      | Floating      | 6.79%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                 | COLT 2025-5 Mortgage Loan Trust                              | CUSIP: 19689AAD7<br>LEI: 213800S6EGXVNRKXHN58 | Long             | ABS-MBS          | CORP              | US        |   2100000 | PA      | $2132342.10   | 0.08%             | 2070-05-25      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2024-PURE                       | CUSIP: 74625PAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | CA        |   1918484 | PA      | $1401237.50   | 0.06%             | 2041-11-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| VNO Mortgage Trust                               | VNDO Trust 2016-350P                                         | CUSIP: 91831UAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3889813.20   | 0.15%             | 2035-01-10      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                   | Freddie Mac Multifamily Structured Pass Through Certificates | CUSIP: 3137BSP98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3293128 | PA      | $11271.39     | 0.00%             | 2026-08-25      | Variable      | 0.89%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 42 Ltd                               | Elmwood CLO 42 Ltd                                           | CUSIP: 29005DAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10034701.00  | 0.40%             | 2038-03-31      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2024-RP2                       | CUSIP: 173106AK1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8485 | PA      | $7774.80      | 0.00%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| BSTN Commercial Mortgage Trust                   | BSTN Commercial Mortgage Trust 2025-1C                       | CUSIP: 05615EAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8000000 | PA      | $8214911.20   | 0.33%             | 2044-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                   | BRAVO Residential Funding Trust 2024-CES2                    | CUSIP: 10570PAD5<br>LEI: 2549009UFWL9U1TS6959 | Long             | ABS-MBS          | CORP              | US        |   2400000 | PA      | $2414844.96   | 0.10%             | 2054-09-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                       | BFLD 2024-WRHS Mortgage Trust                                | CUSIP: 05555HAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5218993 | PA      | $5228751.29   | 0.21%             | 2039-07-15      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2024-RP2                       | CUSIP: 173106AJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8685205 | PA      | $868.52       | 0.00%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5811361 | PA      | $581.14       | 0.00%             | 2064-01-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Taurus CMBS                                      | Taurus 2025-3 UK Designated Activity Co                      | CUSIP: 000000000<br>LEI: 635400XWNSMBWUUQIW58 | Long             | ABS-MBS          | CORP              | IE        |   1650000 | PA      | $2228116.46   | 0.09%             | 2035-07-20      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit                   | Bain Capital Credit CLO 2022-4 Ltd                           | CUSIP: 05685BAU0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   5000000 | PA      | $5015833.50   | 0.20%             | 2037-10-16      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                        | Anchorage Capital CLO 7 Ltd                                  | CUSIP: 03328TBU8<br>LEI: 54930014PVHLSZJQK139 | Long             | ABS-CBDO         | CORP              | KY        |   3124000 | PA      | $3138231.69   | 0.12%             | 2037-04-28      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2022-LBA6                                           | CUSIP: 12433EAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5250000 | PA      | $5243513.63   | 0.21%             | 2039-01-15      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                 | Connecticut Avenue Securities Trust 2024-R06                 | CUSIP: 20755RAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2300000 | PA      | $2308524.95   | 0.09%             | 2044-09-25      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                   | Pret 2025-NPL2 LLC                                           | CUSIP: 69392JAA7<br>LEI: 254900S0KCA0ULKWBW61 | Long             | ABS-O            | CORP              | US        |   5742096 | PA      | $5758095.85   | 0.23%             | 2055-03-25      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| Invesco Euro CLO                                 | Invesco Euro CLO VI DAC                                      | CUSIP: 000000000<br>LEI: 549300YQUO4XFJGG1T54 | Long             | ABS-CBDO         | CORP              | IE        |   3250000 | PA      | $3817226.38   | 0.15%             | 2034-07-15      | Floating      | 3.66%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT                   | Golub Capital Partners CLO 62B Ltd                           | CUSIP: 38180HAA2<br>LEI: 2549009X711NFO0AZT83 | Long             | ABS-CBDO         | CORP              | JE        |   8000000 | PA      | $8027916.80   | 0.32%             | 2037-10-15      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Contego CLO DAC                                  | Contego Clo XIV DAC                                          | CUSIP: 000000000<br>LEI: 635400NLZP2UKDTVEG95 | Long             | ABS-CBDO         | CORP              | IE        |   1200000 | PA      | $1409711.16   | 0.06%             | 2037-10-15      | Floating      | 4.26%                 | No            |                  2 | On Loan: No      |
| WHARF Commercial Mortgage Trus                   | WHARF Commercial Mortgage Trust 2025-DC                      | CUSIP: 92987LAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6000000 | PA      | $6131143.20   | 0.24%             | 2040-07-15      | Variable      | 7.72%                 | No            |                  2 | On Loan: No      |
| PK ALIFT LOAN FUNDING                            | Pk Alift Loan Funding 6 LP                                   | CUSIP: 69291YAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10512403 | PA      | $10589929.70  | 0.42%             | 2042-11-15      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Tikehau                                          | Tikehau CLO XIII DAC                                         | CUSIP: 000000000<br>LEI: 6354006QUI9OYIL7LT78 | Long             | ABS-CBDO         | CORP              | IE        |  15000000 | PA      | $17611983.20  | 0.70%             | 2038-10-15      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2025-INV1                         | CUSIP: 924929AC6<br>LEI: 213800YO7QOQOFRSRN78 | Long             | ABS-MBS          | CORP              | US        |   7315232 | PA      | $7393330.61   | 0.29%             | 2070-02-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2025-RP1                       | CUSIP: 17332HAM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10824 | PA      | $9580.39      | 0.00%             | 2064-01-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2025-DIME                                           | CUSIP: 05613UAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $9956287.00   | 0.40%             | 2035-02-15      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS 2018-CHRS Mortgage Trust                               | CUSIP: 05491VAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $934218.90    | 0.04%             | 2038-08-05      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| SONA FIOS CLO                                    | Sona Fios Clo IV DAC                                         | CUSIP: 000000000<br>LEI: 635400QGIDXZNEITGK95 | Long             | ABS-CBDO         | CORP              | IE        |  10000000 | PA      | $11754754.67  | 0.47%             | 2038-04-20      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS 2016-ETC Mortgage Trust                                | CUSIP: 05491LAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $97440.12     | 0.00%             | 2036-08-14      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                       | Affirm Asset Securitization Trust 2024-X2                    | CUSIP: 00833QAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5200000 | PA      | $5244518.76   | 0.21%             | 2029-12-17      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                             | SCG Trust 2025-SNIP                                          | CUSIP: 78398JAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2510193.25   | 0.10%             | 2042-09-15      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                               | BMO 2023-5C2 Mortgage Trust                                  | CUSIP: 05610QAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9500000 | PA      | $524446.55    | 0.02%             | 2056-11-15      | Variable      | 2.24%                 | No            |                  2 | On Loan: No      |
| MENLO CLO                                        | Menlo CLO I Ltd                                              | CUSIP: 586915AA8<br>LEI: 2549005RHPY3C68SIP61 | Long             | ABS-CBDO         | CORP              | KY        |   7250000 | PA      | $7279234.90   | 0.29%             | 2038-01-20      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2025-TAIL                                           | CUSIP: 123912AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9430000 | PA      | $9423656.44   | 0.37%             | 2035-06-15      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-INV1 Trust                                          | CUSIP: 62916TAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1070000 | PA      | $1085878.27   | 0.04%             | 2070-02-25      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mor                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM7     | CUSIP: 61779KAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11875762 | PA      | $11886272.78  | 0.47%             | 2070-09-25      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| Tikehau US CLO Ltd                               | Tikehau US CLO II Ltd                                        | CUSIP: 88676LAY7<br>LEI: 254900I3YTWHVZHM1B33 | Long             | ABS-CBDO         | CORP              | BM        |   4600000 | PA      | $4614545.20   | 0.18%             | 2038-01-20      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Pnmac Gmsr Issuer Trust                          | PMT Issuer Trust - FMSR                                      | CUSIP: 693968AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5200000 | PA      | $5232888.96   | 0.21%             | 2027-12-25      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2025-ARIA                                           | CUSIP: 05619TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10000000 | PA      | $10090650.00  | 0.40%             | 2042-12-13      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| U.S. Bank National Association                   | US Bank NA                                                   | CUSIP: 90357PBC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  12049505 | PA      | $12082697.75  | 0.48%             | 2032-02-25      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-RPL1 LLC                                           | CUSIP: 74390WAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1144000 | PA      | $1073699.94   | 0.04%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| DIAMOND SPORTS GRP LLC- CS                       | DIAMOND SPORTS GRP LLC- CS                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3163 | NS      | $5272.72      | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2024-RP2                       | CUSIP: 173106AD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    304204 | PA      | $249368.52    | 0.01%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                 | COLT 2025-INV2 Mortgage Loan Trust                           | CUSIP: 12673UAA2<br>LEI: 213800M5KYYIOHI7KW93 | Long             | ABS-MBS          | CORP              | US        |   6248543 | PA      | $6313798.21   | 0.25%             | 2070-02-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                                 | Bellemeade Re 2025-1 Ltd                                     | CUSIP: 07876NAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $904085.46    | 0.04%             | 2035-10-25      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| Armada Euro CLO                                  | Armada Euro CLO VII DAC                                      | CUSIP: 000000000<br>LEI: 254900X3N0A6IK91HI28 | Long             | ABS-CBDO         | CORP              | IE        |   5000000 | PA      | $5880464.00   | 0.23%             | 2039-04-15      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| Providus CLO                                     | Providus CLO V DAC                                           | CUSIP: 000000000<br>LEI: 6354008C72YCMAEWD258 | Long             | ABS-CBDO         | CORP              | IE        |  12250000 | PA      | $14395638.55  | 0.57%             | 2039-11-15      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                           | RR 40 LTD                                                    | CUSIP: 749762AC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10048164.00  | 0.40%             | 2038-07-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| HERITAGE PWR LLC                                 | HERITAGE PWR LLC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1852 | NS      | $122232.00    | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| CQS US CLO Ltd                                   | CQS US CLO 2023-3 Ltd                                        | CUSIP: 223929AE0<br>LEI: 254900OIQPM0JE7KVZ52 | Long             | ABS-CBDO         | CORP              | JE        |   2400000 | PA      | $2404630.32   | 0.10%             | 2037-01-25      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                             | LHOME Mortgage Trust 2024-RTL4                               | CUSIP: 50205PAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7733000 | PA      | $7770739.36   | 0.31%             | 2039-07-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| BCRED BSL Static CLO Ltd                         | BCRED BSL Static CLO 2025-1 Ltd                              | CUSIP: 05556KAC6<br>LEI: 2549001IQYV4NQDSNA79 | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10018707.00  | 0.40%             | 2035-07-24      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                            | KKR CLO 49 Ltd                                               | CUSIP: 481939AR7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5018820.00   | 0.20%             | 2037-10-20      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2025-SPOT                       | CUSIP: 12433FAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9066421 | PA      | $9111729.59   | 0.36%             | 2040-04-15      | Floating      | 7.44%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2024-CES8                                | CUSIP: 749421AC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4700000 | PA      | $4731615.02   | 0.19%             | 2044-11-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                     | Hudson Yards 2025-SPRL Mortgage Trust                        | CUSIP: 44855PAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1070000 | PA      | $1110044.54   | 0.04%             | 2040-01-13      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                         | USD/CAD FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-63668.89    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BPR Trust                                        | BPR Trust 2021-TY                                            | CUSIP: 05592AAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    355000 | PA      | $354568.85    | 0.01%             | 2038-09-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-RPL1 LLC                                           | CUSIP: 74390WAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    402000 | PA      | $373984.06    | 0.01%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Contego CLO DAC                                  | Contego Clo V DAC                                            | CUSIP: 000000000<br>LEI: 549300RF10WJ1D9VYK55 | Long             | ABS-CBDO         | CORP              | IE        |   1500000 | PA      | $1767117.98   | 0.07%             | 2037-10-15      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2024-RP2                       | CUSIP: 173106AC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    398942 | PA      | $336545.76    | 0.01%             | 2063-02-25      | Variable      | 1.43%                 | No            |                  2 | On Loan: No      |
| Z Capital Credit Partners BSL                    | Z Capital Credit Partners BSL CLO 2024-1 Ltd                 | CUSIP: 98877JAG7<br>LEI: 254900DSGRS62ZX4HI79 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2013304.20   | 0.08%             | 2036-04-16      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| BRES Commercial Mortgage Trust                   | BRES Commercial Mortgage Trust 2025-ATCAP                    | CUSIP: 05619GAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13625000 | PA      | $13676058.33  | 0.54%             | 2042-11-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N                   | Ally Bank Auto Credit-Linked Notes Series 2025-B             | CUSIP: 02007G6S7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2231773 | PA      | $2237667.70   | 0.09%             | 2033-09-15      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| Capital Street Master Trust                      | Capital Street Master Trust                                  | CUSIP: 14051LAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2700000 | PA      | $2699992.44   | 0.11%             | 2028-10-16      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| MetroNet Infrastructure Issuer                   | MetroNet Infrastructure Issuer LLC                           | CUSIP: 59170JBH0<br>LEI: 5493000BIROCAEATAQ61 | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5033288.00   | 0.20%             | 2055-12-20      | Fixed         | 7.11%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N                   | Ally Bank Auto Credit-Linked Notes Series 2024-A             | CUSIP: 02007GZ97<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    426942 | PA      | $441839.10    | 0.02%             | 2032-05-17      | Fixed         | 9.89%                 | No            |                  2 | On Loan: No      |
| Tenneco Inc                                      | TENNECO INC                                                  | CUSIP: 88037HAP9<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |    350000 | PA      | $343563.50    | 0.01%             | 2028-11-17      | Floating      | 8.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2025-ROIC                                           | CUSIP: 05593VAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4980575 | PA      | $4955685.57   | 0.20%             | 2030-03-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Wind River CLO Ltd                               | Wind River 2021-3 CLO Ltd                                    | CUSIP: 97316DAQ9<br>LEI: 254900AGKLJSTAXGRN27 | Long             | ABS-CBDO         | CORP              | KY        |  10350000 | PA      | $10375675.25  | 0.41%             | 2038-04-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu                   | GreenSky Home Improvement Trust 2024-1                       | CUSIP: 39571MAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    824460 | PA      | $827952.97    | 0.03%             | 2059-06-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                             | LHOME Mortgage Trust 2025-RTL3                               | CUSIP: 50205YAC7<br>LEI: 529900XB146PHFHY2T23 | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1521733.95   | 0.06%             | 2040-08-25      | Variable      | 6.89%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2024-RP2                       | CUSIP: 173106AF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     64822 | PA      | $48642.64     | 0.00%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Invesco Euro CLO XVI DAC                         | Invesco Euro CLO XVI DAC                                     | CUSIP: 000000000<br>LEI: 635400ZPCVNRJJQNCK35 | Long             | ABS-CBDO         | CORP              | IE        |   8000000 | PA      | $9465225.33   | 0.38%             | 2038-10-15      | Floating      | 4.22%                 | No            |                  2 | On Loan: No      |
| PPM Clo, Ltd.                                    | PPM CLO 6-R Ltd                                              | CUSIP: 693975AL8<br>LEI: 2549003CULWUB4AA0151 | Long             | ABS-CBDO         | CORP              | JE        |   4000000 | PA      | $4020229.20   | 0.16%             | 2037-01-20      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| Rockford Tower Europe CLO                        | Rockford Tower Europe CLO 2021-1 DAC                         | CUSIP: 000000000<br>LEI: 635400LBXBN24UFB2Z59 | Long             | ABS-CBDO         | CORP              | IE        |   2000000 | PA      | $2338525.31   | 0.09%             | 2034-04-20      | Floating      | 3.25%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-RPL1 LLC                                           | CUSIP: 74390WAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1987000 | PA      | $1909261.01   | 0.08%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2024-CES3                          | CUSIP: 89183EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2463447 | PA      | $2492385.59   | 0.10%             | 2064-05-25      | Variable      | 6.29%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2025-SPOT                       | CUSIP: 12433FAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8567768 | PA      | $8589175.32   | 0.34%             | 2040-04-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-CES2                          | CUSIP: 89183KAA5<br>LEI: 25490031FI1THTB1EH80 | Long             | ABS-MBS          | CORP              | US        |  19709985 | PA      | $19834209.50  | 0.79%             | 2065-07-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                               | BMO 2024-5C5 Mortgage Trust                                  | CUSIP: 05593RAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  18900000 | PA      | $1414940.94   | 0.06%             | 2057-02-15      | Variable      | 2.48%                 | No            |                  2 | On Loan: No      |
| Babson Euro CLO B.V.                             | Barings Euro CLO 2021-2 DAC                                  | CUSIP: 000000000<br>LEI: 549300WLKHU1JJG5SG04 | Long             | ABS-CBDO         | CORP              | IE        |   3950000 | PA      | $4634206.09   | 0.18%             | 2034-10-15      | Floating      | 3.78%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                | Battalion CLO XXIII Ltd                                      | CUSIP: 07135LAL0<br>LEI: 54930050XKM90CCQIQ92 | Long             | ABS-CBDO         | CORP              | KY        |   5500000 | PA      | $5520086.00   | 0.22%             | 2037-10-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| IP 2025-IP Mortgage Trust                        | IP 2025-IP Mortgage Trust                                    | CUSIP: 449843AG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2830000 | PA      | $2880289.10   | 0.11%             | 2042-06-10      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2025-NQM11 Trust                                         | CUSIP: 67449BAD5<br>LEI: 254900KNWDG7C03UTA13 | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $5063535.00   | 0.20%             | 2065-05-25      | Variable      | 6.15%                 | No            |                  2 | On Loan: No      |
| PPM Clo, Ltd.                                    | PPM CLO 4 Ltd                                                | CUSIP: 69356ABC5<br>LEI: 5493006KUFG82AH4TB78 | Long             | ABS-CBDO         | CORP              | KY        |   8800000 | PA      | $8804545.20   | 0.35%             | 2038-03-18      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| Bain Capital Euro CLO                            | Bain Capital Euro Clo 2018-2 DAC                             | CUSIP: 000000000<br>LEI: 635400CJJQJHYAMATG34 | Long             | ABS-CBDO         | CORP              | IE        |    350913 | PA      | $412244.13    | 0.02%             | 2032-01-20      | Floating      | 2.74%                 | No            |                  2 | On Loan: No      |
| Last Mile Logistics Pan Euro F                   | Last Mile Logistics Pan Euro Finance DAC                     | CUSIP: 000000000<br>LEI: 635400NOPX1IKIAX7N90 | Long             | ABS-MBS          | CORP              | IE        |     98186 | PA      | $115327.51    | 0.00%             | 2033-08-17      | Floating      | 3.96%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                                  | Oaktree CLO 2019-4 Ltd                                       | CUSIP: 67402CBG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3750000 | PA      | $3760522.88   | 0.15%             | 2037-07-20      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issu                   | GreenSky Home Improvement Issuer Trust 2025-2                | CUSIP: 39571VAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4538375.55   | 0.18%             | 2060-06-25      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                             | SCG Commercial Mortgage Trust 2025-DLFN                      | CUSIP: 78398EAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7825000 | PA      | $7776134.44   | 0.31%             | 2035-03-15      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                     | Huntington Bank Auto Credit-Linked Notes Series 2024-1       | CUSIP: 44644NAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    703490 | PA      | $722108.30    | 0.03%             | 2032-05-20      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS 2018-CHRS Mortgage Trust                               | CUSIP: 05491VAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    990000 | PA      | $878864.28    | 0.03%             | 2038-08-05      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                              | COMM 2024-277P Mortgage Trust                                | CUSIP: 12654FAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16500000 | PA      | $393483.75    | 0.02%             | 2044-08-10      | Variable      | 0.66%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                    | Citigroup Mortgage Loan Trust 2024-RP2                       | CUSIP: 173106AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    179547 | PA      | $142981.84    | 0.01%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-RPL1 LLC                                           | CUSIP: 74390WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1172000 | PA      | $1112923.00   | 0.04%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Hayfin Emerald CLO                               | Hayfin Emerald Clo X DAC                                     | CUSIP: 000000000<br>LEI: 635400QPLMTTI1BZII42 | Long             | ABS-CBDO         | CORP              | IE        |  10000000 | PA      | $11789718.04  | 0.47%             | 2039-10-18      | Floating      | 3.99%                 | No            |                  2 | On Loan: No      |
| SREIT Trust                                      | SREIT Trust 2021-MFP                                         | CUSIP: 78472UAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    218099 | PA      | $217963.70    | 0.01%             | 2038-11-15      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                   | BBCMS Mortgage Trust 2024-5C31                               | CUSIP: 07336YAK1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  26275000 | PA      | $2150847.85   | 0.09%             | 2057-12-15      | Variable      | 2.34%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                  | United States Treasury Note/Bond                             | CUSIP: 91282CLY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1700000 | PA      | $1710359.38   | 0.07%             | 2026-11-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2025-CES6                                | CUSIP: 748949AE4<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |   3705000 | PA      | $3750160.25   | 0.15%             | 2055-06-25      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                | Elevation CLO 2021-14 Ltd                                    | CUSIP: 28623RBG2<br>LEI: 549300JPI8D017HI2768 | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6017439.00   | 0.24%             | 2038-01-20      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                | Jamestown CLO XV Ltd                                         | CUSIP: 47050EAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6250000 | PA      | $6254632.50   | 0.25%             | 2035-07-15      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Clavel Residential                               | Clavel Residential 4 DAC                                     | CUSIP: 000000000<br>LEI: 9845007E874EA66E5D44 | Long             | ABS-MBS          | CORP              | IE        |   5000000 | PA      | $5774333.45   | 0.23%             | 2066-10-28      | Floating      | 3.56%                 | No            |                  2 | On Loan: No      |
| AlbaCore Euro CLO                                | AlbaCore Euro CLO VI DAC                                     | CUSIP: 000000000<br>LEI: 635400A6FOR8P75XZC17 | Long             | ABS-CBDO         | CORP              | IE        |  11950000 | PA      | $14111097.22  | 0.56%             | 2037-10-15      | Floating      | 4.41%                 | No            |                  2 | On Loan: No      |
| INCREF LLC                                       | INCREF 2025-FL1 LLC                                          | CUSIP: 45339NAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   9000000 | PA      | $9017577.90   | 0.36%             | 2042-10-19      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| TCW Gem Ltd                                      | TCW CLO 2023-1 Ltd                                           | CUSIP: 872373AS4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4014447.60   | 0.16%             | 2038-03-31      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| U.S. Bank National Association                   | US Bank C&I Credit-Linked Notes Series 2025-2                | CUSIP: 90355PAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5971933 | PA      | $5977941.21   | 0.24%             | 2032-09-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2025-JDI                        | CUSIP: 05594LAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8850000 | PA      | $8869220.43   | 0.35%             | 2042-11-15      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| TCW Gem Ltd                                      | TCW CLO 2019-2 Ltd                                           | CUSIP: 87242BBL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $15045420.00  | 0.60%             | 2038-01-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| St Pauls CLO                                     | St Pauls CLO                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |    750000 | PA      | $831535.85    | 0.03%             | 2032-01-17      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SILVER ROCK CLO LTD                              | Silver Rock CLO I Ltd                                        | CUSIP: 82811RBE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6033930.60   | 0.24%             | 2037-10-20      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Carlyle Euro CLO                                 | Carlyle Euro CLO 2017-1 DAC                                  | CUSIP: 000000000<br>LEI: 635400PVBNAP8EJWQD44 | Long             | ABS-CBDO         | CORP              | IE        |   5125000 | PA      | $6026531.21   | 0.24%             | 2034-07-15      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-CES1                          | CUSIP: 89183HAB0<br>LEI: 254900FMI2GPXLO84795 | Long             | ABS-MBS          | CORP              | US        |   9000000 | PA      | $9149896.80   | 0.36%             | 2055-02-25      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Recei                   | Santander Mortgage Asset Receivable Trust 2025-NQM1          | CUSIP: 80262BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7797151 | PA      | $7851745.64   | 0.31%             | 2065-01-25      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                             | Lhome Mortgage Trust 2025-Rtl2                               | CUSIP: 50206RAA5<br>LEI: 529900COAFD3IY51O355 | Long             | ABS-MBS          | CORP              | US        |   2000000 | PA      | $2014764.20   | 0.08%             | 2040-04-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Intermediate Capital Managers                    | ICG Euro CLO 2021-1 DAC                                      | CUSIP: 000000000<br>LEI: 5493002JC8KETPN3UB70 | Long             | ABS-CBDO         | CORP              | IE        |   1500000 | PA      | $1764306.49   | 0.07%             | 2034-10-15      | Floating      | 3.81%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-NQM1 Trust                                         | CUSIP: 74391EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5839137 | PA      | $5887825.76   | 0.23%             | 2069-11-25      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2025-VIS2                           | CUSIP: 46659RAE7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |   4873766 | PA      | $4905693.55   | 0.19%             | 2055-12-25      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                   | BRAVO Residential Funding Trust 2025-NQM6                    | CUSIP: 10570MAC4<br>LEI: 254900U9H6FFPW4O4S55 | Long             | ABS-MBS          | CORP              | US        |  17335763 | PA      | $17442844.41  | 0.69%             | 2065-06-25      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fun                   | Bayview Opportunity Master Fund VII 2024-EDU1 LLC            | CUSIP: 07336PAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    673831 | PA      | $683934.44    | 0.03%             | 2047-06-25      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                   | OneMain Financial Issuance Trust 2023-1                      | CUSIP: 68269JAG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7500000 | PA      | $7803287.25   | 0.31%             | 2038-06-14      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MTN Commercial Mortgage Trust                    | MTN Commercial Mortgage Trust 2022-LPFL                      | CUSIP: 62475WAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7250000 | PA      | $7245487.60   | 0.29%             | 2039-03-15      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2025-B33RP             | CUSIP: 95004RAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10800000 | PA      | $10777821.12  | 0.43%             | 2042-08-15      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                 | Connecticut Avenue Securities Trust 2021-R01                 | CUSIP: 20754RAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4129634.40   | 0.16%             | 2041-10-25      | Floating      | 9.87%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO                              | MidOcean Credit CLO III                                      | CUSIP: 59802UAN9<br>LEI: 549300XSCUX0ONI5KZ96 | Long             | ABS-CBDO         | CORP              | KY        |     32023 | PA      | $32026.12     | 0.00%             | 2031-04-21      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co                    | Sierra Timeshare 2023-2 Receivables Funding LLC              | CUSIP: 82650BAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    148125 | PA      | $155848.32    | 0.01%             | 2040-04-20      | Fixed         | 9.72%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                              | Affirm Master Trust                                          | CUSIP: 00833BAK4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5700000 | PA      | $5739343.68   | 0.23%             | 2033-07-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Recei                   | Santander Mortgage Asset Receivable Trust 2025-NQM5          | CUSIP: 80262CAA6<br>LEI: 254900FHBJ2YHHBOAU80 | Long             | ABS-MBS          | CORP              | US        |   6270421 | PA      | $6279952.46   | 0.25%             | 2065-08-25      | Variable      | 5.07%                 | No            |                  2 | On Loan: No      |
| VCAT Asset Securitization, LLC                   | VCAT 2025-NPL3 LLC                                           | CUSIP: 92243QAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3995874 | PA      | $4005149.83   | 0.16%             | 2055-02-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| Rockford Tower Europe CLO                        | Rockford Tower Europe CLO 2019-1 DAC                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   5200000 | PA      | $6125437.61   | 0.24%             | 2038-01-20      | Floating      | 4.10%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Impr                   | Goodleap Sustainable Home Solutions Trust 2023-2             | CUSIP: 38237AAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4248407 | PA      | $3981854.61   | 0.16%             | 2055-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | WFCM Commercial Mortgage Trust 2024-GRP                      | CUSIP: 95003YAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4650000 | PA      | $4644758.06   | 0.18%             | 2041-10-15      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                           | Canyon Capital CLO 2019-1 Ltd                                | CUSIP: 13887TAW7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2005913.80   | 0.08%             | 2037-07-15      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| European Loan Conduit                            | Salus European Loan Conduit NO 33 DAC                        | CUSIP: 000000000<br>LEI: 635400BIYQM1LPPW1N05 | Long             | ABS-MBS          | CORP              | IE        |   1961437 | PA      | $2655702.46   | 0.11%             | 2032-01-23      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| AlbaCore Euro CLO                                | AlbaCore Euro CLO IV DAC                                     | CUSIP: 000000000<br>LEI: 635400OMGYX1QQYCTI48 | Long             | ABS-CBDO         | CORP              | IE        |   4000000 | PA      | $4701532.85   | 0.19%             | 2035-07-15      | Floating      | 3.91%                 | No            |                  2 | On Loan: No      |
| WCORE Commercial Mortgage Trus                   | WCORE Commercial Mortgage Trust 2024-CORE                    | CUSIP: 951913AG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8000000 | PA      | $8044637.60   | 0.32%             | 2041-11-15      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| Merchants Fleet Funding LLC                      | Merchants Fleet Funding LLC                                  | CUSIP: 588926AP0<br>LEI: 254900Z2OOQUA5IN2X83 | Long             | ABS-O            | CORP              | US        |   6600000 | PA      | $6619696.38   | 0.26%             | 2039-01-20      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| BEIGNET INVESTOR LLC                             | Beignet Investor LLC                                         | CUSIP: 076912AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  37254000 | PA      | $39439559.07  | 1.57%             | 2049-05-30      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                     | Hudson Yards 2025-SPRL Mortgage Trust                        | CUSIP: 44855PAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5400000 | PA      | $5615653.32   | 0.22%             | 2040-01-13      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                               | BMO 2024-5C4 Mortgage Trust                                  | CUSIP: 09660SAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5500000 | PA      | $415069.05    | 0.02%             | 2057-05-15      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-CES1                          | CUSIP: 89183HAD6<br>LEI: 254900FMI2GPXLO84795 | Long             | ABS-MBS          | CORP              | US        |   4800000 | PA      | $4888980.00   | 0.19%             | 2055-02-25      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| Bank5                                            | BANK5 2024-5YR8                                              | CUSIP: 065923AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13643000 | PA      | $1142359.77   | 0.05%             | 2057-08-15      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| SILVER ROCK CLO LTD                              | Silver Rock CLO I Ltd                                        | CUSIP: 82811RBC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2005966.80   | 0.08%             | 2037-10-20      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2025-CES2                                | CUSIP: 74942BAA9<br>LEI: 2549001985H26N17CK52 | Long             | ABS-MBS          | CORP              | US        |   3463586 | PA      | $3494706.34   | 0.14%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2025-ROIC                                           | CUSIP: 05593VAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6474748 | PA      | $6442476.71   | 0.26%             | 2030-03-15      | Floating      | 6.69%                 | No            |                  2 | On Loan: No      |
| UK Logisitics                                    | UK Logistics 2024-1 DAC                                      | CUSIP: 000000000<br>LEI: 635400H22JMICKOJRJ36 | Long             | ABS-MBS          | CORP              | IE        |   1128300 | PA      | $1524040.88   | 0.06%             | 2034-05-17      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                        | BPR Commercial Mortgage Trust 2024-PARK                      | CUSIP: 05593UAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1630000 | PA      | $1684593.26   | 0.07%             | 2039-11-05      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                 | COLT 2025-3 Mortgage Loan Trust                              | CUSIP: 12674LAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6824222 | PA      | $6861236.36   | 0.27%             | 2070-03-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| Henley Funding Ltd.                              | Henley Clo Xi DAC                                            | CUSIP: 000000000<br>LEI: 6354004ZEQIYPXESRG76 | Long             | ABS-CBDO         | CORP              | IE        |  12250000 | PA      | $14418541.46  | 0.57%             | 2039-04-25      | Floating      | 3.71%                 | No            |                  2 | On Loan: No      |
| COOPR Residential Mortgage Tru                   | COOPR Residential Mortgage Trust 2025-CES3                   | CUSIP: 216926AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3593976 | PA      | $3584182.73   | 0.14%             | 2060-09-25      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2023-CES1                          | CUSIP: 89181XAM3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    612523 | PA      | $615300.01    | 0.02%             | 2063-07-25      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-CRM1                          | CUSIP: 891946AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7594375 | PA      | $7657865.59   | 0.30%             | 2065-01-25      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2024-NQM12 Trust                                         | CUSIP: 67448PAD5<br>LEI: 254900MY906NOBBPOA44 | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4012684.80   | 0.16%             | 2064-07-25      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| Taubman Centers Commercial Mor                   | TCO Commercial Mortgage Trust 2024-DPM                       | CUSIP: 87231EAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4920000 | PA      | $4926143.60   | 0.20%             | 2039-12-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-CES1                          | CUSIP: 89183HAC8<br>LEI: 254900FMI2GPXLO84795 | Long             | ABS-MBS          | CORP              | US        |   6500000 | PA      | $6607799.90   | 0.26%             | 2055-02-25      | Variable      | 6.08%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Impr                   | Goodleap Sustainable Home Solutions Trust 2023-4             | CUSIP: 38237YAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    811207 | PA      | $801936.84    | 0.03%             | 2057-03-20      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| Saratoga Investment Corp CLO L                   | Saratoga Investment Corp CLO 2013-1 Ltd                      | CUSIP: 80349BCD7<br>LEI: 549300471O2DE0Y4L506 | Long             | ABS-CBDO         | CORP              | KY        |   1564709 | PA      | $1565443.87   | 0.06%             | 2033-04-20      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| SUNRUN CALLISTO ISSUER LLC                       | Sunrun Bacchus Issuer 2025-1 LLC                             | CUSIP: 86771PAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6459559 | PA      | $6507319.48   | 0.26%             | 2060-04-30      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                      | RCKT Mortgage Trust 2025-CES1                                | CUSIP: 749427AC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8250000 | PA      | $8359104.60   | 0.33%             | 2045-01-25      | Variable      | 5.91%                 | No            |                  2 | On Loan: No      |
| BLP Commercial Mortgage Trust                    | BLP Commercial Mortgage Trust 2025-IND                       | CUSIP: 05625BAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10252152 | PA      | $10213836.34  | 0.41%             | 2042-03-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2024-CES5                          | CUSIP: 89183QAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4855000 | PA      | $4878345.75   | 0.19%             | 2064-09-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| Carlyle Euro CLO                                 | Carlyle Euro CLO 2021-2 DAC                                  | CUSIP: 000000000<br>LEI: 635400GXUD5SKWFXE966 | Long             | ABS-CBDO         | CORP              | IE        |    500000 | PA      | $588313.41    | 0.02%             | 2035-10-15      | Floating      | 3.76%                 | No            |                  2 | On Loan: No      |
| Bayview Financing Trust                          | Bayview Financing Trust 2023-1F                              | CUSIP: 07336HAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    396021 | PA      | $398162.88    | 0.02%             | 2026-07-01      | Floating      | 9.00%                 | No            |                  2 | On Loan: No      |
| HERITAGE PWR LLC                                 | HERITAGE PWR LLC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        81 | NS      | $5346.00      | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                    | GS Mortgage Backed Securities Trust 2025 CES1                | CUSIP: 36271RAA4<br>LEI: 254900R6PO5A0PCKSU63 | Long             | ABS-MBS          | CORP              | US        |  13616139 | PA      | $13720197.41  | 0.55%             | 2055-05-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                   | CarVal CLO XI C Ltd                                          | CUSIP: 14688RAA8<br>LEI: 254900BDRF474L9PWM54 | Long             | ABS-CBDO         | CORP              | KY        |   8250000 | PA      | $8278796.63   | 0.33%             | 2037-10-20      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                         | USD/EUR FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2401.79     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-INV1 Trust                                          | CUSIP: 62916TAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1389149 | PA      | $1404015.08   | 0.06%             | 2070-02-25      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| Tikehau                                          | Tikehau CLO XI DAC                                           | CUSIP: 000000000<br>LEI: 635400Y4WR1VBVIMMD77 | Long             | ABS-CBDO         | CORP              | IE        |  15000000 | PA      | $17676045.11  | 0.70%             | 2038-01-15      | Floating      | 4.01%                 | No            |                  2 | On Loan: No      |
| Nassau Euro CLO DAC                              | Nassau Euro CLO IV DAC                                       | CUSIP: 000000000<br>LEI: 2549009H5IFGWCGJGZ84 | Long             | ABS-CBDO         | CORP              | IE        |   2000000 | PA      | $2351941.86   | 0.09%             | 2038-07-20      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| COOPR Residential Mortgage Tru                   | COOPR Residential Mortgage Trust 2025-CES2                   | CUSIP: 12674UAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $3034343.10   | 0.12%             | 2060-06-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                   | Carlyle Global Market Strategies Euro CLO 2014-2 Ltd         | CUSIP: 000000000<br>LEI: 6354006SCMVW8LXU4P40 | Long             | ABS-CBDO         | CORP              | IE        |    135148 | PA      | $158790.29    | 0.01%             | 2031-11-15      | Floating      | 2.81%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2024-6 LLC                                              | CUSIP: 74390PAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2258528 | PA      | $2259423.71   | 0.09%             | 2029-11-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                           | Rockford Tower CLO 2021-3 Ltd                                | CUSIP: 77341NAQ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5325000 | PA      | $5340696.50   | 0.21%             | 2038-01-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                   | PRET 2025-NPL3 LLC                                           | CUSIP: 74143HAA3<br>LEI: 254900UGRYVHG7BY6M45 | Long             | ABS-O            | CORP              | US        |  11125674 | PA      | $11192204.47  | 0.44%             | 2055-04-25      | Variable      | 6.71%                 | No            |                  2 | On Loan: No      |
| Tikehau US CLO Ltd                               | Tikehau US CLO VI Ltd                                        | CUSIP: 88676PAE2<br>LEI: 254900G2SWUGII8WH893 | Long             | ABS-CBDO         | CORP              | BM        |   4100000 | PA      | $4112088.85   | 0.16%             | 2037-07-18      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| WCORE Commercial Mortgage Trus                   | WCORE Commercial Mortgage Trust 2024-CORE                    | CUSIP: 951913AE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4019838.80   | 0.16%             | 2041-11-15      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | WFCM Commercial Mortgage Trust 2024-GRP                      | CUSIP: 95003YAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2850000 | PA      | $2853981.17   | 0.11%             | 2041-10-15      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage T                   | EFMT 2024-CES1                                               | CUSIP: 281907AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4685000 | PA      | $4742864.90   | 0.19%             | 2060-01-26      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                       | ROCK Trust 2024-CNTR                                         | CUSIP: 74970WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  15500000 | PA      | $16493222.95  | 0.66%             | 2041-11-13      | Fixed         | 8.82%                 | No            |                  2 | On Loan: No      |
| AlbaCore Euro CLO                                | AlbaCore EURO CLO II DAC                                     | CUSIP: 000000000<br>LEI: 549300WN8XXHR94EX575 | Long             | ABS-CBDO         | CORP              | IE        |   5400000 | PA      | $6332337.56   | 0.25%             | 2034-06-15      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                         | Angel Oak Mortgage Trust 2025-3                              | CUSIP: 03466RAA9<br>LEI: 254900U85BAJNPG0MG65 | Long             | ABS-MBS          | CORP              | US        |   8529305 | PA      | $8585737.72   | 0.34%             | 2070-03-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| HERITAGE PWR LLC                                 | HERITAGE PWR LLC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2132 | NS      | $1066.00      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2025-JDI                        | CUSIP: 05594LAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9250000 | PA      | $9272952.95   | 0.37%             | 2042-11-15      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Impr                   | GoodLeap Sustainable Home Solutions Trust 2024-1             | CUSIP: 38237BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1996867 | PA      | $1943168.13   | 0.08%             | 2057-06-20      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Hayfin Emerald CLO                               | Hayfin Emerald CLO II DAC                                    | CUSIP: 000000000<br>LEI: 549300E8ZEPKJLF1M088 | Long             | ABS-CBDO         | CORP              | IE        |    750000 | PA      | $882073.83    | 0.04%             | 2034-05-27      | Floating      | 3.77%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fun                   | Bayview Opportunity Master Fund VII 2024-CAR1 LLC            | CUSIP: 07336QAE2<br>LEI: 254900S53K9VTUR1UX42 | Long             | ABS-O            | CORP              | US        |    590190 | PA      | $596786.67    | 0.02%             | 2031-12-26      | Floating      | 7.47%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-RCF3 LLC                                           | CUSIP: 69392PAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6603595 | PA      | $6660626.15   | 0.26%             | 2055-07-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2024-CES5                          | CUSIP: 89183QAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2289000 | PA      | $2291085.28   | 0.09%             | 2064-09-25      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| PRPM Fundido                                     | PRPM Fundido 2025-2 DAC                                      | CUSIP: 000000000<br>LEI: 894500XHX48NOYVH5669 | Long             | ABS-MBS          | CORP              | IE        |   1529000 | PA      | $1760231.62   | 0.07%             | 2075-01-29      | Floating      | 4.04%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-CES4                          | CUSIP: 89170UAB6<br>LEI: 254900V1XGR6BSB30T32 | Long             | ABS-MBS          | CORP              | US        |   3371250 | PA      | $3384903.99   | 0.13%             | 2065-10-25      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                         | OBX 2025-NQM3 Trust                                          | CUSIP: 67448YAC8<br>LEI: 254900MBGY6CR10DAX67 | Long             | ABS-MBS          | CORP              | US        |   6355008 | PA      | $6417465.99   | 0.26%             | 2064-12-01      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                                  | Oaktree CLO 2022-3 Ltd                                       | CUSIP: 67401RAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8000000 | PA      | $8029800.00   | 0.32%             | 2037-10-15      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                        | Morgan Stanley Bank of America Merrill Lynch Trust 2025-5C1  | CUSIP: 61778GBC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  14216000 | PA      | $1380446.10   | 0.05%             | 2058-03-15      | Variable      | 2.64%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2022-VAMF                                           | CUSIP: 05609TAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4300000 | PA      | $4289170.88   | 0.17%             | 2039-01-15      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO XVI, Ltd.                       | Sixth Street CLO XVI Ltd                                     | CUSIP: 83012DAQ6<br>LEI: 549300YD05LZSDNMVF16 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001703.80   | 0.04%             | 2037-01-20      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust                                    | CUSIP: 89182FAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    981633 | PA      | $993853.47    | 0.04%             | 2063-10-25      | Variable      | 7.29%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2024-5C1               | CUSIP: 95003VAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13169000 | PA      | $1067688.53   | 0.04%             | 2057-07-15      | Variable      | 2.63%                 | No            |                  2 | On Loan: No      |
| (PIPA070) PGIM Core Government Money Market Fund | (PIPA070) PGIM Core Government Money Market Fund             | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  82880108 | NS      | $82880107.58  | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2024-CES4                          | CUSIP: 89182QAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2219534 | PA      | $2221902.89   | 0.09%             | 2064-09-25      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                    | MHC Commercial Mortgage Trust 2021-MHC                       | CUSIP: 55316VAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1365600 | PA      | $1367300.04   | 0.05%             | 2038-04-15      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Toro European CLO                                | Toro European CLO 8 DAC                                      | CUSIP: 000000000<br>LEI: 635400NGHEB1GFYATU96 | Long             | ABS-CBDO         | CORP              | IE        |   2000000 | PA      | $2353514.99   | 0.09%             | 2035-04-15      | Floating      | 4.08%                 | No            |                  2 | On Loan: No      |
| Auxilior Term Funding LLC                        | Auxilior Term Funding 2023-1 LLC                             | CUSIP: 05335JAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $518233.75    | 0.02%             | 2030-12-16      | Fixed         | 7.27%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                         | Madison Park Funding XXXIV Ltd                               | CUSIP: 55819GAW9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  11500000 | PA      | $11539776.20  | 0.46%             | 2037-10-16      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable                   | OneMain Direct Auto Receivables Trust 2021-1                 | CUSIP: 682687AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $898839.45    | 0.04%             | 2028-07-14      | Fixed         | 1.42%                 | No            |                  2 | On Loan: No      |
| Penta CLO 14 DAC                                 | Penta CLO 14 DAC                                             | CUSIP: 000000000<br>LEI: 549300KV4K41MAFRA061 | Long             | ABS-CBDO         | CORP              | IE        |   3500000 | PA      | $4121179.61   | 0.16%             | 2037-10-20      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                   | OneMain Financial Issuance Trust 2022-2                      | CUSIP: 68268VAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1180000 | PA      | $1185823.89   | 0.05%             | 2034-10-14      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| TFS_18-3                                         | TFS_18-3                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | N/A       |         1 | PA      | $1.18         | 0.00%             | 2040-04-16      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-CES1 Trust                                          | CUSIP: 629162AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3997647 | PA      | $4006646.13   | 0.16%             | 2060-08-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                        | CIM Trust 2024-R1                                            | CUSIP: 17179VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3105464 | PA      | $3089869.11   | 0.12%             | 2064-06-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                   | BRAVO Residential Funding Trust 2025-NQM5                    | CUSIP: 10569RAE2<br>LEI: 254900HGOJX787MBR512 | Long             | ABS-MBS          | CORP              | US        |   1149323 | PA      | $1156213.03   | 0.05%             | 2065-02-25      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| Northwoods Capital Ltd                           | Northwoods Capital 22 Ltd                                    | CUSIP: 66858HBG0<br>LEI: 254900SOJIZYDV6U1V46 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1503638.70   | 0.06%             | 2031-09-16      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| Aurium CLO                                       | Aurium Clo VIII DAC                                          | CUSIP: 000000000<br>LEI: 549300FEAY35HPC4RS38 | Long             | ABS-CBDO         | CORP              | IE        |  15000000 | PA      | $17697544.22  | 0.70%             | 2038-10-16      | Floating      | 3.86%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                       | Verus Securitization Trust 2025-2                            | CUSIP: 92540VAA3<br>LEI: 213800TTP1CNX4WER720 | Long             | ABS-MBS          | CORP              | US        |   7118414 | PA      | $7161736.66   | 0.28%             | 2070-03-25      | Variable      | 5.31%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                              | Sound Point CLO XXVI Ltd                                     | CUSIP: 83614XAS0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    990000 | PA      | $990011.58    | 0.04%             | 2034-07-20      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2025-VIS2                           | CUSIP: 46659RAC1<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |   7798025 | PA      | $7855061.90   | 0.31%             | 2055-12-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-                   | One New York Plaza Trust 2020-1NYP                           | CUSIP: 68249DAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $575022.84    | 0.02%             | 2036-01-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                | Elevation CLO 2020-11 Ltd                                    | CUSIP: 28621YAS4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2506637.25   | 0.10%             | 2037-10-15      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                   | BRAVO Residential Funding Trust 2025-CES2                    | CUSIP: 10568RAA1<br>LEI: 254900H5A4PX072RRR06 | Long             | ABS-MBS          | CORP              | US        |   4738949 | PA      | $4733382.40   | 0.19%             | 2055-07-26      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| Bank5                                            | BANK5 2023-5YR4                                              | CUSIP: 06211FAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $382774.50    | 0.02%             | 2056-12-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-RCF3 LLC                                           | CUSIP: 69392PAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    876000 | PA      | $872947.84    | 0.03%             | 2055-07-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                   | Pret 2025-NPL7 LLC                                           | CUSIP: 740934AA2<br>LEI: 2549001J36X6SUZ41Q96 | Long             | ABS-O            | CORP              | US        |   3831380 | PA      | $3841317.86   | 0.15%             | 2055-07-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                        | Towd Point Mortgage Trust 2025-CES3                          | CUSIP: 891949AB5<br>LEI: 254900XDQGDYHMUKZJ77 | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $4026970.80   | 0.16%             | 2065-08-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| OFSI Fund LTD                                    | OFSI BSL CLO XIII Ltd                                        | CUSIP: 67118VAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1006260.00   | 0.04%             | 2037-04-20      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| COOPR Residential Mortgage Tru                   | COOPR Residential Mortgage Trust 2025-CES3                   | CUSIP: 216926AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1500000 | PA      | $1495594.20   | 0.06%             | 2060-09-25      | Variable      | 5.23%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2025-COPT                       | CUSIP: 05618XAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3300000 | PA      | $3309206.01   | 0.13%             | 2042-08-15      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| Barrow Hanley CLO LTD                            | Barrow Hanley CLO III Ltd                                    | CUSIP: 06875VAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1256244.75   | 0.05%             | 2037-04-20      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| TCW CLO 2019-1 AMR, LTD.                         | TCW CLO 2019-1 AMR Ltd                                       | CUSIP: 87241EAW5<br>LEI: 549300RWQDI4UTTLDE63 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5008095.00   | 0.20%             | 2034-08-16      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                   | BRAVO Residential Funding Trust 2025-CES3                    | CUSIP: 10570AAD8<br>LEI: 254900E8SFNM64X0JQ70 | Long             | ABS-MBS          | CORP              | US        |   3828000 | PA      | $3823327.93   | 0.15%             | 2055-12-25      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2024-HE2                            | CUSIP: 46593HAB4<br>LEI: 529900ELA1S09AZO9Q54 | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1804014.54   | 0.07%             | 2054-10-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Bank5                                            | BANK5 2025-5YR15                                             | CUSIP: 065924BE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16932000 | PA      | $1699263.35   | 0.07%             | 2058-07-15      | Variable      | 2.51%                 | No            |                  2 | On Loan: No      |
| UK Logisitics                                    | UK Logistics 2025-2 DAC                                      | CUSIP: 000000000<br>LEI: 635400CRV6HKMHJF8S64 | Long             | ABS-MBS          | CORP              | IE        |   5500000 | PA      | $7426202.30   | 0.30%             | 2035-08-17      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                         | Angel Oak Mortgage Trust 2025-9                              | CUSIP: 03466VAA0<br>LEI: 254900OJMXBRORE83E96 | Long             | ABS-MBS          | CORP              | US        |   5438646 | PA      | $5458769.85   | 0.22%             | 2070-08-25      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| RCO Mortgage LLC                                 | RCO VIII Mortgage LLC 2025-3                                 | CUSIP: 74939GAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5534562 | PA      | $5546690.49   | 0.22%             | 2030-05-25      | Variable      | 6.43%                 | No            |                  2 | On Loan: No      |
| TFS_18-3-A1                                      | TFS_18-3-A1                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | LU        |    136801 | PA      | $120576.04    | 0.00%             | 2026-03-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                          | CDS CDX.NA.HY.42.V1                                          | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $21404.48     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2025-COPT                       | CUSIP: 05618XAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9100000 | PA      | $9122568.00   | 0.36%             | 2042-08-15      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-INV1 Trust                                          | CUSIP: 62916TAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2384080 | PA      | $2408351.35   | 0.10%             | 2070-02-25      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                   | Carlyle US CLO 2024-3 Ltd                                    | CUSIP: 14319HAC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   9750000 | PA      | $9778504.13   | 0.39%             | 2036-07-25      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Monument CLO                                     | Monument Clo 3 DAC                                           | CUSIP: 000000000<br>LEI: 254900274MJH69SRXW98 | Long             | ABS-CBDO         | CORP              | IE        |  15000000 | PA      | $17669274.20  | 0.70%             | 2038-04-15      | Floating      | 3.89%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                             | Cross 2025-H4 Mortgage Trust                                 | CUSIP: 22790AAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4874938 | PA      | $4911405.49   | 0.20%             | 2070-06-25      | Variable      | 5.78%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2024-AIRC                       | CUSIP: 12433CAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4737148 | PA      | $4748926.22   | 0.19%             | 2041-08-15      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| Sculptor European CLO                            | Sculptor European CLO VII DAC                                | CUSIP: 000000000<br>LEI: 6354009MYVCVIBG64Q24 | Long             | ABS-CBDO         | CORP              | IE        |   8000000 | PA      | $9439193.24   | 0.38%             | 2038-01-15      | Floating      | 4.06%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                    | GS Mortgage-Backed Securities Trust 2024-HE2                 | CUSIP: 36271AAA1<br>LEI: 254900W4Z6DJOVCWAH28 | Long             | ABS-O            | CORP              | US        |   3994690 | PA      | $4000873.03   | 0.16%             | 2055-01-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2024-PAT                                            | CUSIP: 05612FAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4125000 | PA      | $4125000.00   | 0.16%             | 2041-03-15      | Floating      | 5.84%                 | Yes           |                  2 | On Loan: No      |
| SILVER ROCK CLO LTD                              | Silver Rock CLO I Ltd                                        | CUSIP: 82811RAY3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2007162.00   | 0.08%             | 2037-10-20      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.      | US LONG BOND(CBT)                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -193 | NC      | $131620.22    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Anchorage Capital CLO LTD                        | Anchorage Capital Clo 11 Ltd                                 | CUSIP: 03330NAW4<br>LEI: 549300NPGT86ACOLIL14 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $2008675.40   | 0.08%             | 2037-07-22      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities                    | GS Mortgage-Backed Securities Corp Trust 2025-NQM6           | CUSIP: 362933AA1<br>LEI: 254900X1ABPQ6D4G6D07 | Long             | ABS-MBS          | CORP              | US        |   4382844 | PA      | $4379751.98   | 0.17%             | 2029-11-25      | Variable      | 0.05%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                    | NYC Commercial Mortgage Trust 2025-300P                      | CUSIP: 67121TAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    800000 | PA      | $807644.08    | 0.03%             | 2042-07-13      | Variable      | 6.16%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Trust 2025-LUNR                                           | CUSIP: 05594CAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3018113 | PA      | $3027713.94   | 0.12%             | 2040-06-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Bank5                                            | BANK5 2023-5YR3                                              | CUSIP: 06211EBE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9000000 | PA      | $696759.30    | 0.03%             | 2056-09-15      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| PMT CREDIT RISK TRANSFER TRUST                   | PMT Credit Risk Transfer Trust 2024-1R                       | CUSIP: 73015AAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4683792 | PA      | $4734255.63   | 0.19%             | 2033-05-25      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| Aurium CLO                                       | Aurium Clo VIII DAC                                          | CUSIP: 000000000<br>LEI: 549300FEAY35HPC4RS38 | Long             | ABS-CBDO         | CORP              | IE        |   4830000 | PA      | $5679928.25   | 0.23%             | 2038-10-16      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                       | NLT 2025-INV1 Trust                                          | CUSIP: 62916TAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12391583 | PA      | $12523031.68  | 0.50%             | 2070-02-25      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| Barrow Hanley CLO I Ltd                          | Barrow Hanley CLO I Ltd                                      | CUSIP: 068751AS5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  10000000 | PA      | $10032249.00  | 0.40%             | 2038-01-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Kinbane DAC                                      | Kinbane 2024-Rpl 2 DAC                                       | CUSIP: 000000000<br>LEI: 635400B9FSRJAFAZIY56 | Long             | ABS-MBS          | CORP              | IE        |   1900000 | PA      | $2229599.90   | 0.09%             | 2063-01-24      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.      | ULTRA U.S. TREASURY BOND                                     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-1845.58     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Preston Ridge Partners Mortgag                   | PRPM 2025-4 LLC                                              | CUSIP: 69382KAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6625910 | PA      | $6638478.25   | 0.26%             | 2030-06-25      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                   | CarVal CLO VII-C Ltd                                         | CUSIP: 14686BAN7<br>LEI: 254900KRTGHP264UWC15 | Long             | ABS-CBDO         | CORP              | JE        |   4000000 | PA      | $4010008.00   | 0.16%             | 2037-07-20      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| BX Trust                                         | BX Commercial Mortgage Trust 2024-AIR2                       | CUSIP: 05613QAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1246934 | PA      | $1250035.68   | 0.05%             | 2041-10-15      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| Legacy Mortgage Asset Trust                      | Legacy Mortgage Asset Trust 2025-PR1                         | CUSIP: 52476AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  19454646 | PA      | $19481515.25  | 0.77%             | 2061-01-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU 2019-1 Ltd                         | Trimaran CAVU 2022-1 Ltd                                     | CUSIP: 89623VAL5<br>LEI: 549300UZ4DECMUVOVS09 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5017552.00   | 0.20%             | 2037-10-22      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                | Jamestown CLO XVIII Ltd                                      | CUSIP: 47047RAU0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3000437.70   | 0.12%             | 2035-07-25      | Floating      | 7.61%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                       | MFA 2025-NQM1 Trust                                          | CUSIP: 55287JAA4<br>LEI: 254900T233AM4RM23465 | Long             | ABS-MBS          | CORP              | US        |   4195569 | PA      | $4219263.70   | 0.17%             | 2070-03-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| Anchor Mortgage Trust                            | Anchor Mortgage Trust 2025-RTL1                              | CUSIP: 03290CAA4<br>LEI: 254900S7O2LYCU17JI96 | Long             | ABS-MBS          | CORP              | US        |   3300000 | PA      | $3317465.91   | 0.13%             | 2040-05-25      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                     | GS Mortgage Securities Corp Trust 2025-800D                  | CUSIP: 36273XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3590000 | PA      | $3594799.11   | 0.14%             | 2041-11-25      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2025-B33RP             | CUSIP: 95004RAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $4495284.45   | 0.18%             | 2042-08-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                | EURO-SCHATZ                                                  | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -1 | NC      | $222.37       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust Series 2025-CES5                    | CUSIP: 46594DAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3023000 | PA      | $3027161.16   | 0.12%             | 2056-02-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                       | Affirm Asset Securitization Trust 2025-X1                    | CUSIP: 00834MAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  10400000 | PA      | $10492667.12  | 0.42%             | 2030-04-15      | Fixed         | 6.11%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                        | BPR Trust 2024-PMDW                                          | CUSIP: 05592VAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5950000 | PA      | $6062344.93   | 0.24%             | 2041-11-05      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                         | JP Morgan Mortgage Trust 2025-VIS3                           | CUSIP: 46594EAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3245456 | PA      | $3256564.13   | 0.13%             | 2066-02-25      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital Europe CLO                     | Anchorage Capital Europe CLO 8 DAC                           | CUSIP: 000000000<br>LEI: 635400VEGED5ZD9DOU65 | Long             | ABS-CBDO         | CORP              | IE        |   5000000 | PA      | $5882304.95   | 0.23%             | 2038-10-25      | Floating      | 4.17%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable                   | OneMain Direct Auto Receivables Trust 2023-1                 | CUSIP: 682685AD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1035045.60   | 0.04%             | 2033-02-14      | Fixed         | 7.07%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                     | Huntington Bank Auto Credit-Linked Notes Series 2025-1       | CUSIP: 446438SZ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2797242 | PA      | $2801668.86   | 0.11%             | 2033-03-21      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                   | Wells Fargo Commercial Mortgage Trust 2024-1CHI              | CUSIP: 95003PAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3200000 | PA      | $3234575.04   | 0.13%             | 2035-07-15      | Variable      | 6.71%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                             | Cross 2025-H7 Mortgage Trust                                 | CUSIP: 22757JAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  15784746 | PA      | $15793787.05  | 0.63%             | 2070-09-25      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| BX Trust 2019-OC11                               | BX Trust 2019-OC11                                           | CUSIP: 05606FAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5936000 | PA      | $5654290.50   | 0.22%             | 2041-12-09      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-26

**Name of Applicant:** Prudential Investment Portfolios 8

**Signature:** Christian J. Kelly

**Name of Signer:** Christian J. Kelly

**Title:** Chief Financial Officer