# EDGAR Filing Document

**Accession Number:** 0001070287
**File Stem:** 0000940400-25-002392
**Filing Date:** 2025-9
**Character Count:** 808373
**Document Hash:** 7d9058af7fb05a64381ffc37fc8ab150
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002392.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0000940400-25-002392

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRUDENTIAL INVESTMENT PORTFOLIOS 9
- **CENTRAL INDEX KEY:** 0001070287

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09101
- **FILM NUMBER:** 251343583

**BUSINESS ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 6TH  FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102-4077
- **BUSINESS PHONE:** (973) 802-5032

**MAIL ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 6TH  FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102-4077

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRUDENTIAL INVESTMENT PORFOLIOS 9
- **DATE OF NAME CHANGE:** 20100217

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DRYDEN TAX-MANAGED FUNDS
- **DATE OF NAME CHANGE:** 20070801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DRYDEN TAX MANAGED FUNDS
- **DATE OF NAME CHANGE:** 20030716

## Series and Classes Contracts Data

### PGIM Absolute Return Bond Fund (Series ID: S000031707)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000098666 | Class A      | PADAX           |
| C000098667 | Class C      | PADCX           |
| C000098668 | Class R6     | PADQX           |
| C000098669 | Class Z      | PADZX           |

## Nport-Ex

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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 102.4%** | **Long-Term Investments 102.4%** | **Long-Term Investments 102.4%** | **Long-Term Investments 102.4%** | **Long-Term Investments 102.4%** | **Long-Term Investments 102.4%** |
| **Asset-Backed Securities 21.7%** | **Asset-Backed Securities 21.7%** | **Asset-Backed Securities 21.7%** | **Asset-Backed Securities 21.7%** | **Asset-Backed Securities 21.7%** | **Asset-Backed Securities 21.7%** |
| **Automobiles 0.6%** | **Automobiles 0.6%** | **Automobiles 0.6%** | **Automobiles 0.6%** | **Automobiles 0.6%** | **Automobiles 0.6%** |
| Ally Bank Auto Credit-Linked Notes,<br> Series 2024-A, Class E, 144A | &nbsp;&nbsp;7.917% | &nbsp;&nbsp;05/17/32 |  | &nbsp;&nbsp;1329 | &nbsp;&nbsp; $1356351 |
| 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;7.950(c) | &nbsp;&nbsp;12/26/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781710 |
| Bayview Opportunity Master Fund VII Trust,<br> Series 2024-CAR1F, Class A, 144A | &nbsp;&nbsp;6.971 | &nbsp;&nbsp;07/29/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398462 |
| Enterprise Fleet Financing LLC,<br> Series 2023-02, Class A2, 144A | &nbsp;&nbsp;5.560 | &nbsp;&nbsp;04/22/30 |  | &nbsp;&nbsp;1135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140714 |
| Ford Credit Auto Owner Trust,<br> Series 2023-02, Class D, 144A | &nbsp;&nbsp;6.600 | &nbsp;&nbsp;02/15/36 |  | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241173 |
| Ford Credit Floorplan Master Owner Trust,<br> Series 2023-01, Class A1, 144A | &nbsp;&nbsp;4.920 | &nbsp;&nbsp;05/15/28 |  | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2608053 |
| OneMain Direct Auto Receivables Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class B, 144A | &nbsp;&nbsp;3.950 | &nbsp;&nbsp;11/14/28 |  | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1689927 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-01A, Class D, 144A | &nbsp;&nbsp;1.620 | &nbsp;&nbsp;11/14/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197283 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-01A, Class D, 144A | &nbsp;&nbsp;5.900 | &nbsp;&nbsp;12/16/30 |  | &nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2906598 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class D, 144A | &nbsp;&nbsp;7.070 | &nbsp;&nbsp;02/14/33 |  | &nbsp;&nbsp;3700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3851459 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01A, Class D, 144A | &nbsp;&nbsp;6.100 | &nbsp;&nbsp;07/14/37 |  | &nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4660940 |
| Santander Bank Auto Credit-Linked Notes, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C, Class E, 144A | 11.366 | &nbsp;&nbsp;12/15/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3147 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-A, Class E, 144A | 10.068 | &nbsp;&nbsp;06/15/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90753 |
| Santander Drive Auto Receivables Trust,<br> Series 2023-02, Class C | &nbsp;&nbsp;5.470 | &nbsp;&nbsp;12/16/30 |  | &nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262196 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22188766 |
| **Collateralized Loan Obligations 18.2%** | **Collateralized Loan Obligations 18.2%** | **Collateralized Loan Obligations 18.2%** | **Collateralized Loan Obligations 18.2%** | **Collateralized Loan Obligations 18.2%** | **Collateralized Loan Obligations 18.2%** |
| AGL CLO Ltd. (Cayman Islands),<br> Series 2020-09A, Class AR, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%) | &nbsp;&nbsp;5.855(c) | &nbsp;&nbsp;04/20/37 |  | 19500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19579289 |
| 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;3.625(c) | &nbsp;&nbsp;06/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141673 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 02X, Class B, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | &nbsp;&nbsp;3.625(c) | &nbsp;&nbsp;06/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4566694 |
| Anchorage Capital CLO Ltd. (Cayman Islands),<br> Series 2019-11A, Class AR2, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%) | &nbsp;&nbsp;5.862(c) | &nbsp;&nbsp;07/22/37 |  | 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16071688 |
| Anchorage Capital Europe CLO DAC (Ireland),<br> Series 06A, Class B1R, 144A, 3 Month EURIBOR + 2.750% (Cap N/A, Floor 2.750%) | &nbsp;&nbsp;4.745(c) | &nbsp;&nbsp;01/22/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5721369 |
| Apidos CLO,<br> Series 2018-18A, Class A1R2, 144A, 3 Month SOFR + 1.330% (Cap N/A, Floor 1.330%) | &nbsp;&nbsp;5.662(c) | &nbsp;&nbsp;01/22/38 |  | 14250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14294494 |
| Arbour CLO DAC (Ireland),<br> Series 04A, Class BRR, 144A, 3 Month EURIBOR + 1.300% (Cap N/A, Floor 1.300%) | &nbsp;&nbsp;3.326(c) | &nbsp;&nbsp;04/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5702757 |
| Atlas Static Senior Loan Fund Ltd. (Cayman Islands),<br> Series 2022-01A, Class AR, 144A, 3 Month SOFR + 1.750% (Cap N/A, Floor 1.750%) | &nbsp;&nbsp;6.068(c) | &nbsp;&nbsp;07/15/30 |  | &nbsp;&nbsp;1099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098814 |
| Bain Capital Credit CLO Ltd. (Cayman Islands),<br> Series 2022-01A, Class A1, 144A, 3 Month SOFR + 1.320% (Cap N/A, Floor 1.320%) | &nbsp;&nbsp;5.649(c) | &nbsp;&nbsp;04/18/35 |  | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502488 |
| Barings Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-01A, Class AR, 144A, 3 Month EURIBOR + 0.980% (Cap N/A, Floor 0.980%) | &nbsp;&nbsp;3.004(c) | &nbsp;&nbsp;10/21/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3421654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-01A, Class A, 144A, 3 Month EURIBOR + 0.800% (Cap N/A, Floor 0.800%) | &nbsp;&nbsp;2.744(c) | &nbsp;&nbsp;04/24/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177785 |
| Barrow Hanley CLO Ltd. (Cayman Islands),<br> Series 2024-03A, Class A1, 144A, 3 Month SOFR + 1.620% (Cap N/A, Floor 1.620%) | &nbsp;&nbsp;5.945(c) | &nbsp;&nbsp;04/20/37 |  | 19500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19576473 |
| Battalion CLO Ltd. (Cayman Islands),<br> Series 2016-10A, Class A1R2, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%) | &nbsp;&nbsp;5.750(c) | &nbsp;&nbsp;01/25/35 |  | &nbsp;&nbsp;4740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4745559 |
| Canyon Capital CLO Ltd. (Cayman Islands),<br> Series 2019-01A, Class BRR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | &nbsp;&nbsp;6.118(c) | &nbsp;&nbsp;07/15/37 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10046270 |
| Carlyle Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class A1R, 144A, 3 Month EURIBOR + 0.750% (Cap N/A, Floor 0.750%) | &nbsp;&nbsp;2.725(c) | &nbsp;&nbsp;03/15/32 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551358 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class A2RB, 144A | &nbsp;&nbsp;2.100 | &nbsp;&nbsp;03/15/32 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7098721 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-05A, Class A2R, 144A, 3 Month EURIBOR + 2.200% (Cap N/A, Floor 2.200%) | &nbsp;&nbsp;4.139(c) | &nbsp;&nbsp;04/25/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6913267 |
| CIFC Funding Ltd. (Cayman Islands),<br> Series 2015-01A, Class ARR, 144A, 3 Month SOFR + 1.372% (Cap N/A, Floor 1.110%) | &nbsp;&nbsp;5.704(c) | &nbsp;&nbsp;01/22/31 |  | &nbsp;&nbsp;2537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538912 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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.)** |
| Clover CLO LLC,<br> Series 2018-01A, Class A1RR, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%) | 5.855 %(c) | &nbsp;&nbsp;04/20/37 |  | 15000 | &nbsp;&nbsp; $15059590 |
| Columbia Cent CLO Ltd. (Cayman Islands),<br> Series 2020-29A, Class BR, 144A, 3 Month SOFR + 1.962% (Cap N/A, Floor 0.000%) | 6.287(c) | &nbsp;&nbsp;10/20/34 |  | 11335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11332879 |
| Crown City CLO (Cayman Islands),<br> Series 2020-02A, Class A1AR, 144A, 3 Month SOFR + 1.340% (Cap N/A, Floor 1.340%) | 5.665(c) | &nbsp;&nbsp;04/20/35 |  | &nbsp;&nbsp;2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2755154 |
| Elevation CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-12A, Class A1R, 144A, 3 Month SOFR + 1.620% (Cap N/A, Floor 1.620%) | 5.945(c) | &nbsp;&nbsp;04/20/37 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10038227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-14A, Class BR, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | 6.025(c) | &nbsp;&nbsp;01/20/38 |  | 16750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16733213 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-17A, Class A1, 144A, 3 Month SOFR + 1.870% (Cap N/A, Floor 1.870%) | 6.195(c) | &nbsp;&nbsp;10/20/36 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10059908 |
| Elmwood CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05A, Class AR1, 144A, 3 Month SOFR + 1.520% (Cap N/A, Floor 1.520%) | 5.845(c) | &nbsp;&nbsp;04/20/37 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10039854 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05A, Class BR, 144A, 3 Month SOFR + 2.000% (Cap N/A, Floor 2.000%) | 6.325(c) | &nbsp;&nbsp;04/20/37 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10063585 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-03A, Class A, 144A, 3 Month SOFR + 1.240% (Cap N/A, Floor 1.240%) | 5.516(c) | &nbsp;&nbsp;03/22/38 |  | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17526250 |
| Generate CLO Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 04A, Class ARR, 144A, 3 Month SOFR + 1.430% (Cap N/A, Floor 1.430%) | 5.755(c) | &nbsp;&nbsp;07/20/37 |  | 13395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13440542 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 07A, Class A1R, 144A, 3 Month SOFR + 1.620% (Cap N/A, Floor 1.620%) | 5.952(c) | &nbsp;&nbsp;04/22/37 |  | &nbsp;&nbsp;5050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5069408 |
| Grosvenor Place CLO DAC (Ireland),<br> Series 2022-01A, Class AR, 144A, 3 Month EURIBOR + 1.600% (Cap N/A, Floor 1.600%) | 3.649(c) | &nbsp;&nbsp;05/24/38 | &nbsp;&nbsp;EUR | 17500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20016095 |
| Harvest CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 32A, Class A, 144A, 3 Month EURIBOR + 1.450% (Cap N/A, Floor 1.450%) | 3.389(c) | &nbsp;&nbsp;07/25/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8045303 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 32A, Class B, 144A, 3 Month EURIBOR + 2.050% (Cap N/A, Floor 2.050%) | 3.989(c) | &nbsp;&nbsp;07/25/37 | &nbsp;&nbsp;EUR | 13750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15894118 |
| ICG Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class AR, 144A, 3 Month EURIBOR + 1.250% (Cap N/A, Floor 1.250%) | 3.274(c) | &nbsp;&nbsp;10/19/38 | &nbsp;&nbsp;EUR | 15750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17919982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-02A, Class A1, 144A, 3 Month EURIBOR + 1.730% (Cap N/A, Floor 1.730%) | 3.678(c) | &nbsp;&nbsp;01/26/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6857897 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-02A, Class B1, 144A, 3 Month EURIBOR + 2.750% (Cap N/A, Floor 2.750%) | 4.698(c) | &nbsp;&nbsp;01/26/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5726334 |
| Indigo Credit Management DAC (Ireland),<br> Series 02A, Class C, 144A, 3 Month EURIBOR + 2.650% (Cap N/A, Floor 2.650%) | 4.676(c) | &nbsp;&nbsp;07/15/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7435988 |
| Invesco Euro CLO DAC (Ireland),<br> Series 06A, Class B1, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | 3.676(c) | &nbsp;&nbsp;07/15/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;9250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10545454 |
| Jubilee CLO DAC (Ireland),<br> Series 2018-21A, Class BR, 144A, 3 Month EURIBOR + 1.400% (Cap N/A, Floor 1.400%) | 3.426(c) | &nbsp;&nbsp;04/15/35 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11323544 |
| KKR CLO Ltd. (Cayman Islands),<br> Series 17, Class AR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%) | 5.659(c) | &nbsp;&nbsp;04/15/34 |  | &nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3304950 |
| Madison Park Euro Funding DAC (Ireland),<br> Series 16A, Class A, 144A, 3 Month EURIBOR + 0.790% (Cap N/A, Floor 0.790%) | 2.816(c) | &nbsp;&nbsp;05/25/34 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2835673 |
| Madison Park Funding Ltd. (Cayman Islands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-33A, Class AR, 144A, 3 Month SOFR + 1.290% (Cap N/A, Floor 1.290%) | 5.608(c) | &nbsp;&nbsp;10/15/32 |  | &nbsp;&nbsp;5465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5471059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-59A, Class BR, 144A, 3 Month SOFR + 1.920% (Cap N/A, Floor 1.920%) | 6.249(c) | &nbsp;&nbsp;04/18/37 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10048185 |
| Menlo CLO Ltd. (Cayman Islands),<br> Series 2024-01A, Class C, 144A, 3 Month SOFR + 2.250% (Cap N/A, Floor 2.250%) | 6.575(c) | &nbsp;&nbsp;01/20/38 |  | 12500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12570005 |
| MidOcean Credit CLO (Cayman Islands),<br> Series 2014-03A, Class BR, 144A, 3 Month SOFR + 2.062% (Cap N/A, Floor 1.800%) | 6.387(c) | &nbsp;&nbsp;04/21/31 |  | 11083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11105802 |
| Monument CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 01A, Class A, 144A, 3 Month EURIBOR + 1.590% (Cap N/A, Floor 1.590%) | 3.733(c) | &nbsp;&nbsp;05/15/37 | &nbsp;&nbsp;EUR | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22900102 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 01A, Class D, 144A, 3 Month EURIBOR + 4.350% (Cap N/A, Floor 4.350%) | 6.493(c) | &nbsp;&nbsp;05/15/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4796613 |
| OFSI BSL Ltd. (Cayman Islands),<br> Series 2022-11A, Class A1R, 144A, 3 Month SOFR + 2.050% (Cap N/A, Floor 2.050%) | 6.379(c) | &nbsp;&nbsp;10/18/35 |  | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10056739 |
| Palmer Square European CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-02A, Class AR, 144A, 3 Month EURIBOR + 1.600% (Cap N/A, Floor 1.600%) | 3.626(c) | &nbsp;&nbsp;01/15/38 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11412377 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-02A, Class ARR, 144A, 3 Month EURIBOR + 1.390% (Cap N/A, Floor 1.390%) | 0.000(c) | &nbsp;&nbsp;01/15/38 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11412000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01A, Class A, 144A, 3 Month EURIBOR + 1.250% (Cap N/A, Floor 1.250%) | 3.749(c) | &nbsp;&nbsp;10/15/39 | &nbsp;&nbsp;EUR | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17094788 |
| Penta CLO DAC (Ireland),<br> Series 2018-05A, Class B1R, 144A, 3 Month EURIBOR + 1.550% (Cap N/A, Floor 1.550%) | 3.574(c) | &nbsp;&nbsp;04/20/35 | &nbsp;&nbsp;EUR | 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11429406 |
| Regatta Funding Ltd. (Cayman Islands),<br> Series 2017-01A, Class A1R, 144A, 3 Month SOFR + 1.550% (Cap N/A, Floor 1.550%) | 5.872(c) | &nbsp;&nbsp;04/17/37 |  | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18075373 |
| Rockford Tower CLO Ltd.,<br> Series 2022-02A, Class A1R, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | 6.175(c) | &nbsp;&nbsp;10/20/35 |  | 11500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11532052 |
| Rockford Tower Europe CLO DAC (Ireland),<br> Series 2025-01A, Class A, 144A, 3 Month EURIBOR + 1.220% (Cap N/A, Floor 1.220%) | 3.429(c) | &nbsp;&nbsp;10/25/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9493719 |

---

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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.)** |
| Romark WM-R Ltd. (Cayman Islands),<br> Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 0.000%) | 5.617 %(c) | &nbsp;&nbsp;04/20/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;593 | &nbsp;&nbsp; $594209 |
| Signal Peak CLO Ltd. (Cayman Islands),<br> Series 2020-08A, Class A1R, 144A, 3 Month SOFR + 1.390% (Cap N/A, Floor 1.390%) | 5.715(c) | &nbsp;&nbsp;10/20/37 |  | 12950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13002454 |
| Sona Fios CLO DAC (Ireland),<br> Series 01A, Class A1, 144A, 3 Month EURIBOR + 1.850% (Cap N/A, Floor 1.850%) | 3.876(c) | &nbsp;&nbsp;07/15/36 | &nbsp;&nbsp;EUR | 13250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15151999 |
| THL Credit Wind River CLO Ltd. (Cayman Islands),<br> Series 2020-01A, Class BR, 144A, 3 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 6.425(c) | &nbsp;&nbsp;07/20/37 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5025334 |
| Tikehau US CLO Ltd. (Bermuda),<br> Series 2023-02A, Class A1, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.950%) | 6.268(c) | &nbsp;&nbsp;01/15/36 |  | 13250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13320566 |
| Toro European CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 09A, Class A, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | 3.676(c) | &nbsp;&nbsp;04/15/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10294381 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 10A, Class A, 144A, 3 Month EURIBOR + 1.250% (Cap N/A, Floor 1.250%) | 3.609(c) | &nbsp;&nbsp;04/15/38 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9060662 |
| Trinitas CLO Ltd. (Bermuda),<br> Series 2024-24A, Class A1, 144A, 3 Month SOFR + 1.600% (Cap N/A, Floor 1.600%) | 5.918(c) | &nbsp;&nbsp;04/25/37 |  | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6022450 |
| Warwick Capital CLO Ltd. (United Kingdom),<br> Series 2023-02A, Class A1, 144A, 3 Month SOFR + 1.950% (Cap N/A, Floor 1.950%) | 6.268(c) | &nbsp;&nbsp;01/15/37 |  | 12500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12574028 |
| Wellfleet CLO Ltd. (Cayman Islands),<br> Series 2022-02A, Class AR, 144A, 3 Month SOFR + 1.420% (Cap N/A, Floor 1.420%) | 5.749(c) | &nbsp;&nbsp;10/18/37 |  | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15059169 |
| Zais CLO Ltd. (Cayman Islands),<br> Series 2015-03A, Class A2R, 144A, 3 Month SOFR + 2.452% (Cap N/A, Floor 0.000%) | 6.769(c) | &nbsp;&nbsp;07/15/31 |  | 11300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11342922 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639619607 |
| **Consumer Loans 0.9%** | **Consumer Loans 0.9%** | **Consumer Loans 0.9%** | **Consumer Loans 0.9%** | **Consumer Loans 0.9%** | **Consumer Loans 0.9%** |
| Affirm Asset Securitization Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class 1E, 144A | 9.170 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2371466 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-B, Class E, 144A | 7.350 | &nbsp;&nbsp;09/15/29 |  | &nbsp;&nbsp;1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252506 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-X02, Class D, 144A | 6.080 | &nbsp;&nbsp;12/17/29 |  | &nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4221518 |
| Affirm Master Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-01A, Class D, 144A | 5.620 | &nbsp;&nbsp;02/15/33 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5010645 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02A, Class D, 144A | 5.600 | &nbsp;&nbsp;07/15/33 |  | &nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9506402 |
| Island Finance Trust,<br> Series 2025-01A, Class A, 144A | 6.540 | &nbsp;&nbsp;03/19/35 |  | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3035702 |
| OneMain Financial Issuance Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class A, 144A | 5.500 | &nbsp;&nbsp;06/14/38 |  | &nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4912435 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01A, Class D, 144A | 7.490 | &nbsp;&nbsp;06/14/38 |  | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207261 |
| &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;2562751 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33080686 |
| **Credit Cards 0.2%** | **Credit Cards 0.2%** | **Credit Cards 0.2%** | **Credit Cards 0.2%** | **Credit Cards 0.2%** | **Credit Cards 0.2%** |
| Genesis Sales Finance Master Trust,<br> Series 2024-B, Class B, 144A | 6.260 | &nbsp;&nbsp;12/20/32 |  | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5011458 |
| **Equipment 0.1%** | **Equipment 0.1%** | **Equipment 0.1%** | **Equipment 0.1%** | **Equipment 0.1%** | **Equipment 0.1%** |
| Auxilior Term Funding LLC,<br> Series 2023-01A, Class D, 144A | 7.270 | &nbsp;&nbsp;12/16/30 |  | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567788 |
| **Home Equity Loans 0.8%** | **Home Equity Loans 0.8%** | **Home Equity Loans 0.8%** | **Home Equity Loans 0.8%** | **Home Equity Loans 0.8%** | **Home Equity Loans 0.8%** |
| Accredited Mortgage Loan Trust,<br> Series 2004-03, Class 2A2, 1 Month SOFR + 1.314% (Cap 13.000%, Floor 1.200%) | 5.667(c) | &nbsp;&nbsp;10/25/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432191 |
| Asset-Backed Securities Corp. Home Equity Loan Trust,<br> Series 2003-HE06, Class A3B, 1 Month SOFR + 1.074% (Cap N/A, Floor 0.960%) | 5.427(c) | &nbsp;&nbsp;11/25/33 |  | &nbsp;&nbsp;3177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3246141 |
| Bear Stearns Asset-Backed Securities Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2003-03, Class A2, 1 Month SOFR + 1.294% (Cap 11.000%, Floor 1.180%) | 5.647(c) | &nbsp;&nbsp;06/25/43 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40918 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2003-HE01, Class M1, 1 Month SOFR + 1.209% (Cap N/A, Floor 1.095%) | 5.562(c) | &nbsp;&nbsp;01/25/34 |  | &nbsp;&nbsp;1184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1192696 |
| BRAVO Residential Funding Trust,<br> Series 2025-CES01, Class A1A, 144A | 5.703 | &nbsp;&nbsp;02/25/55 |  | &nbsp;&nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383812 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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)** |
| **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.)** | **Home Equity Loans (cont'd.)** |
| Home Equity Asset Trust,<br> Series 2004-07, Class A2, 1 Month SOFR + 0.954% (Cap N/A, Floor 0.840%) | 5.307 %(c) | &nbsp;&nbsp;01/25/35 |  | &nbsp;&nbsp;&nbsp;732 | &nbsp;&nbsp; $727622 |
| JPMorgan Mortgage Trust,<br> Series 2023-HE03, Class M1, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | 6.448(c) | &nbsp;&nbsp;05/20/54 |  | 1019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026444 |
| MASTR Asset-Backed Securities Trust,<br> Series 2003-WMC02, Class M2, 1 Month SOFR + 2.589% (Cap N/A, Floor 2.475%) | 4.166(c) | &nbsp;&nbsp;08/25/33 |  | &nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419992 |
| RCKT Mortgage Trust,<br> Series 2025-CES02, Class A1A, 144A | 5.503 | &nbsp;&nbsp;02/25/55 |  | 4370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4375423 |
| Towd Point Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES01, Class A1A, 144A | 5.848(cc) | &nbsp;&nbsp;01/25/64 |  | &nbsp;&nbsp;&nbsp;471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471480 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-CES05, Class M1, 144A | 5.601(cc) | &nbsp;&nbsp;09/25/64 |  | 3750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3741567 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class A2, 144A | 5.926 | &nbsp;&nbsp;02/25/55 |  | 5053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5105753 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class M1, 144A | 6.076(cc) | &nbsp;&nbsp;02/25/55 |  | 3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3530546 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-CES01, Class M2A, 144A | 6.574(cc) | &nbsp;&nbsp;02/25/55 |  | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3035846 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27730431 |
| **Other 0.3%** | **Other 0.3%** | **Other 0.3%** | **Other 0.3%** | **Other 0.3%** | **Other 0.3%** |
| GoodLeap Sustainable Home Solutions Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-03C, Class A, 144A | 6.500 | &nbsp;&nbsp;07/20/55 |  | &nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402824 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-04C, Class A, 144A | 6.480 | &nbsp;&nbsp;03/20/57 |  | &nbsp;&nbsp;&nbsp;846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818770 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01GS, Class A, 144A | 6.250 | &nbsp;&nbsp;06/20/57 |  | 1983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1922855 |
| Sierra Timeshare Receivables Funding LLC,<br> Series 2023-02A, Class D, 144A | 9.720 | &nbsp;&nbsp;04/20/40 |  | &nbsp;&nbsp;&nbsp;604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629946 |
| Sunrun Bacchus Issuer LLC,<br> Series 2025-01A, Class A1, 144A | 5.990 | &nbsp;&nbsp;04/30/60 |  | 3251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3242953 |
| Sunrun Vesta Issuer LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-03A, Class A1, 144A | 5.490 | &nbsp;&nbsp;10/30/59 |  | &nbsp;&nbsp;&nbsp;823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795626 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-03A, Class A2, 144A | 5.880 | &nbsp;&nbsp;10/30/59 |  | 3374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3197034 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11010008 |
| **Residential Mortgage-Backed Securities 0.5%** | **Residential Mortgage-Backed Securities 0.5%** | **Residential Mortgage-Backed Securities 0.5%** | **Residential Mortgage-Backed Securities 0.5%** | **Residential Mortgage-Backed Securities 0.5%** | **Residential Mortgage-Backed Securities 0.5%** |
| Chase Funding Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2002-03, Class 2A1, 1 Month SOFR + 0.754% (Cap N/A, Floor 0.640%) | 5.107(c) | &nbsp;&nbsp;08/25/32 |  | &nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205072 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2003-04, Class 1A5 | 4.887 | &nbsp;&nbsp;05/25/33 |  | &nbsp;&nbsp;&nbsp;223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217258 |
| Citigroup Mortgage Loan Trust, Inc.,<br> Series 2005-OPT01, Class M1, 1 Month SOFR + 0.744% (Cap N/A, Floor 0.630%) | 5.097(c) | &nbsp;&nbsp;02/25/35 |  | &nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126498 |
| Countrywide Asset-Backed Certificates Trust,<br> Series 2004-BC04, Class M1, 1 Month SOFR + 1.164% (Cap N/A, Floor 1.050%) | 5.517(c) | &nbsp;&nbsp;11/25/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4380 |
| Credit-Based Asset Servicing & Securitization LLC,<br> Series 2003-CB03, Class AF1 | 3.379 | &nbsp;&nbsp;12/25/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41054 |
| Finance America Mortgage Loan Trust,<br> Series 2003-01, Class M1, 1 Month SOFR + 1.164% (Cap N/A, Floor 1.050%) | 5.517(c) | &nbsp;&nbsp;09/25/33 |  | &nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620641 |
| First Franklin Mortgage Loan Trust,<br> Series 2004-FF05, Class A2, 1 Month SOFR + 0.874% (Cap N/A, Floor 0.760%) | 5.227(c) | &nbsp;&nbsp;08/25/34 |  | &nbsp;&nbsp;&nbsp;328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309145 |
| Fremont Home Loan Trust,<br> Series 2004-04, Class M1, 1 Month SOFR + 0.909% (Cap N/A, Floor 0.795%) | 5.262(c) | &nbsp;&nbsp;03/25/35 |  | 1209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1142859 |
| Long Beach Mortgage Loan Trust,<br> Series 2004-02, Class A1, 1 Month SOFR + 0.554% (Cap N/A, Floor 0.440%) | 4.907(c) | &nbsp;&nbsp;06/25/34 |  | &nbsp;&nbsp;&nbsp;431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423345 |
| PRET LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NPL02, Class A1, 144A | 5.835 | &nbsp;&nbsp;03/25/55 |  | 5386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5361224 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-NPL07, Class A1, 144A | 5.657 | &nbsp;&nbsp;07/25/55 |  | 4700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4698106 |
| Structured Asset Investment Loan Trust,<br> Series 2004-BNC01, Class A2, 1 Month SOFR + 1.114% (Cap N/A, Floor 1.000%) | 5.315(c) | &nbsp;&nbsp;09/25/34 |  | 1376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413965 |
| TFS (Spain), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-03^ | 0.000(s) | &nbsp;&nbsp;04/16/40 | &nbsp;&nbsp;EUR | &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%^ | 5.144(c) | &nbsp;&nbsp;03/15/26 | &nbsp;&nbsp;EUR | 3192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2714234 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17277782 |

---

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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)** |
| **Student Loans 0.1%** | **Student Loans 0.1%** | **Student Loans 0.1%** | **Student Loans 0.1%** | **Student Loans 0.1%** |
| 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%) | 7.100 %(c) | &nbsp;&nbsp;06/25/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp; $814543 |
| Laurel Road Prime Student Loan Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-D, Class A, 144A | 0.000(cc) | &nbsp;&nbsp;11/25/43 | &nbsp;&nbsp;&nbsp;&nbsp;1599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1514096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-A, Class R, 144A | 0.000 | &nbsp;&nbsp;10/25/48 | &nbsp;&nbsp;&nbsp;&nbsp;1210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432046 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760685 |
| **Total Asset-Backed Securities<br> (cost $744,589,917)** | **Total Asset-Backed Securities<br> (cost $744,589,917)** | **Total Asset-Backed Securities<br> (cost $744,589,917)** | **Total Asset-Backed Securities<br> (cost $744,589,917)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760247211 |
| **Commercial Mortgage-Backed Securities 4.2%** | **Commercial Mortgage-Backed Securities 4.2%** | **Commercial Mortgage-Backed Securities 4.2%** | **Commercial Mortgage-Backed Securities 4.2%** | **Commercial Mortgage-Backed Securities 4.2%** |
| 20 Times Square Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-20TS, Class G, 144A(x) | 3.100(cc) | &nbsp;&nbsp;05/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2335500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-20TS, Class H, 144A(x) | 3.100(cc) | &nbsp;&nbsp;05/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2268000 |
| ARES Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IND03, Class C, 144A, 1 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 6.442(c) | &nbsp;&nbsp;04/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;3380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3380000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IND03, Class D, 144A, 1 Month SOFR + 2.550% (Cap N/A, Floor 2.550%) | 6.892(c) | &nbsp;&nbsp;04/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;3160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3158026 |
| Barclays Commercial Mortgage Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CHRS, Class B, 144A | 4.267(cc) | &nbsp;&nbsp;08/05/38 | &nbsp;&nbsp;&nbsp;&nbsp;2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2427782 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CHRS, Class C, 144A | 4.267(cc) | &nbsp;&nbsp;08/05/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804644 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CHRS, Class D, 144A | 4.267(cc) | &nbsp;&nbsp;08/05/38 | &nbsp;&nbsp;&nbsp;&nbsp;1490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288001 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-BID, Class A, 144A, 1 Month SOFR + 2.254% (Cap N/A, Floor 2.140%) | 6.596(c) | &nbsp;&nbsp;10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp;5745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5743205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05C29, Class XD, IO, 144A | 2.673(cc) | &nbsp;&nbsp;09/15/57 | &nbsp;&nbsp;28469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2778201 |
| Benchmark Mortgage Trust,<br> Series 2023-V03, Class XA, IO | 0.814(cc) | &nbsp;&nbsp;07/15/56 | &nbsp;&nbsp;50571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1086657 |
| BFLD Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-VICT, Class B, 144A, 1 Month SOFR + 2.589% (Cap N/A, Floor 2.589%) | 6.931(c) | &nbsp;&nbsp;07/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4389021 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-WRHS, Class E, 144A, 1 Month SOFR + 3.689% (Cap N/A, Floor 3.689%) | 8.031(c) | &nbsp;&nbsp;08/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051443 |
| BLP Commercial Mortgage Trust,<br> Series 2025-IND, Class D, 144A, 1 Month SOFR + 2.250% (Cap N/A, Floor 2.250%) | 6.592(c) | &nbsp;&nbsp;03/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;5030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4979804 |
| BPR Commercial Mortgage Trust,<br> Series 2024-PARK, Class C, 144A | 6.183(cc) | &nbsp;&nbsp;11/05/39 | &nbsp;&nbsp;&nbsp;&nbsp;5350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5399964 |
| BPR Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-TY, Class C, 144A, 1 Month SOFR + 1.814% (Cap N/A, Floor 1.700%) | 6.156(c) | &nbsp;&nbsp;09/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013952 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-BRK02, Class C, 144A | 8.335(cc) | &nbsp;&nbsp;10/05/38 | &nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4495500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-PMDW, Class C, 144A | 5.850(cc) | &nbsp;&nbsp;11/05/41 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890950 |
| BX Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-BCAT, Class A, 144A, 1 Month SOFR + 1.380% (Cap N/A, Floor 1.380%) | 5.730(c) | &nbsp;&nbsp;08/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;7050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7050000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPOT, Class D, 144A, 1 Month SOFR + 2.492% (Cap N/A, Floor 2.492%) | 6.834(c) | &nbsp;&nbsp;04/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000029 |
| BX Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-PAT, Class A, 144A, 1 Month SOFR + 2.090% (Cap N/A, Floor 2.090%) | 6.432(c) | &nbsp;&nbsp;03/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5601810 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ROIC, Class D, 144A, 1 Month SOFR + 1.993% (Cap N/A, Floor 1.993%) | 6.335(c) | &nbsp;&nbsp;03/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4962994 |
| Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-LC19, Class XB, IO, 144A | 0.171(cc) | &nbsp;&nbsp;02/10/48 | 123049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-277P, Class A, 144A | 6.338 | &nbsp;&nbsp;08/10/44 | &nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1675194 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-277P, Class X, IO, 144A | 0.661(cc) | &nbsp;&nbsp;08/10/44 | &nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140161 |
| FHLMC Multifamily Structured Pass-Through Certificates,<br> Series K055, Class X1, IO | 1.330(cc) | &nbsp;&nbsp;03/25/26 | &nbsp;&nbsp;19318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116709 |
| GS Mortgage Securities Corp. Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-IP, Class A, 144A, 1 Month SOFR + 1.064% (Cap N/A, Floor 0.950%) | 5.406(c) | &nbsp;&nbsp;10/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2129006 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RVR, Class A, 144A | 5.198(cc) | &nbsp;&nbsp;08/10/41 | &nbsp;&nbsp;&nbsp;&nbsp;6900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6929397 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-800D, Class A, 144A, 1 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 7.000(c) | &nbsp;&nbsp;11/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;6445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6457159 |
| Hudson Yards Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPRL, Class D, 144A | 6.340(cc) | &nbsp;&nbsp;01/13/40 | &nbsp;&nbsp;&nbsp;&nbsp;5010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5164729 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPRL, Class E, 144A | 6.678(cc) | &nbsp;&nbsp;01/13/40 | &nbsp;&nbsp;&nbsp;&nbsp;2575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650779 |
| JPMBB Commercial Mortgage Securities Trust,<br> Series 2015-C27, Class XB, IO | 0.412(cc) | &nbsp;&nbsp;02/15/48 | &nbsp;&nbsp;52766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528 |
| JPMCC Commercial Mortgage Securities Trust,<br> Series 2017-JP06, Class A5 | 3.490 | &nbsp;&nbsp;07/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4832445 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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)** |
| JPMorgan Chase Commercial Mortgage Securities Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-LC11, Class XB, IO | 0.463 %(cc) | &nbsp;&nbsp;04/15/46 |  | 23322 | &nbsp;&nbsp; $63647 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-AON, Class E, 144A | 4.613(cc) | &nbsp;&nbsp;07/05/31 |  | &nbsp;&nbsp;4935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121727 |
| LBA Trust,<br> Series 2024-BOLT, Class D, 144A, 1 Month SOFR + 2.590% (Cap N/A, Floor 2.590%) | 6.932(c) | &nbsp;&nbsp;06/15/39 |  | &nbsp;&nbsp;2930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926338 |
| MHC Commercial Mortgage Trust,<br> Series 2021-MHC, Class F, 144A, 1 Month SOFR + 2.715% (Cap N/A, Floor 2.601%) | 7.057(c) | &nbsp;&nbsp;04/15/38 |  | &nbsp;&nbsp;5261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5265798 |
| ONE Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PARK, Class D, 144A, 1 Month SOFR + 1.614% (Cap N/A, Floor 1.500%) | 5.956(c) | &nbsp;&nbsp;03/15/36 |  | &nbsp;&nbsp;2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221957 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PARK, Class E, 144A, 1 Month SOFR + 1.864% (Cap N/A, Floor 1.750%) | 6.206(c) | &nbsp;&nbsp;03/15/36 |  | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1292219 |
| ROCK Trust,<br> Series 2024-CNTR, Class E, 144A | 8.819 | &nbsp;&nbsp;11/13/41 |  | &nbsp;&nbsp;4435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4665178 |
| Salus European Loan Conduit DAC (United Kingdom),<br> Series 33A, Class A, 144A, SONIA + 2.169% (Cap N/A, Floor 1.500%) | 6.408(c) | &nbsp;&nbsp;01/23/32 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;9317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12333191 |
| SCG Commercial Mortgage Trust,<br> Series 2025-DLFN, Class D, 144A, 1 Month SOFR + 2.150% (Cap N/A, Floor 2.150%) | 6.492(c) | &nbsp;&nbsp;03/15/35 |  | &nbsp;&nbsp;3925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900518 |
| Taurus DAC (United Kingdom),<br> Series 2025-UK3A, Class D, 144A, SONIA + 2.800% (Cap N/A, Floor 0.000%) | 7.042(c) | &nbsp;&nbsp;07/20/35 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2378116 |
| Wells Fargo Commercial Mortgage Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01CHI, Class E, 144A | 7.574(cc) | &nbsp;&nbsp;07/15/35 |  | &nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929124 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-GRP, Class B, 144A, 1 Month SOFR + 2.291% (Cap N/A, Floor 2.291%) | 6.633(c) | &nbsp;&nbsp;10/15/41 |  | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507672 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-GRP, Class C, 144A, 1 Month SOFR + 2.940% (Cap N/A, Floor 2.940%) | 7.282(c) | &nbsp;&nbsp;10/15/41 |  | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2508557 |
| **Total Commercial Mortgage-Backed Securities<br> (cost $149,233,576)** | **Total Commercial Mortgage-Backed Securities<br> (cost $149,233,576)** | **Total Commercial Mortgage-Backed Securities<br> (cost $149,233,576)** | **Total Commercial Mortgage-Backed Securities<br> (cost $149,233,576)** | **Total Commercial Mortgage-Backed Securities<br> (cost $149,233,576)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146316862 |
| **Corporate Bonds 20.2%** | **Corporate Bonds 20.2%** | **Corporate Bonds 20.2%** | **Corporate Bonds 20.2%** | **Corporate Bonds 20.2%** | **Corporate Bonds 20.2%** |
| **Aerospace & Defense 0.7%** | **Aerospace & Defense 0.7%** | **Aerospace & Defense 0.7%** | **Aerospace & Defense 0.7%** | **Aerospace & Defense 0.7%** | **Aerospace & Defense 0.7%** |
| Boeing Co. (The), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.196 | &nbsp;&nbsp;02/04/26 |  | &nbsp;&nbsp;9286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9163466 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.250 | &nbsp;&nbsp;02/01/28 |  | &nbsp;&nbsp;5555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5378549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.250 | &nbsp;&nbsp;02/01/35 |  | &nbsp;&nbsp;5710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4820130 |
| Bombardier, Inc. (Canada), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.000 | &nbsp;&nbsp;02/15/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526969 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;06/15/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.500 | &nbsp;&nbsp;02/01/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363352 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.875 | &nbsp;&nbsp;04/15/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525310 |
| Embraer Netherlands Finance BV (Brazil),<br> Gtd. Notes, 144A | 7.000 | &nbsp;&nbsp;07/28/30 |  | &nbsp;&nbsp;1770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1884395 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23123421 |
| **Agriculture 0.2%** | **Agriculture 0.2%** | **Agriculture 0.2%** | **Agriculture 0.2%** | **Agriculture 0.2%** | **Agriculture 0.2%** |
| Imperial Brands Finance PLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.875 | &nbsp;&nbsp;07/26/29 |  | &nbsp;&nbsp;3398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3284571 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A, MTN | 5.500 | &nbsp;&nbsp;02/01/30 |  | &nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3285858 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6570429 |
| **Airlines 0.3%** | **Airlines 0.3%** | **Airlines 0.3%** | **Airlines 0.3%** | **Airlines 0.3%** | **Airlines 0.3%** |
| Delta Air Lines, Inc./SkyMiles IP Ltd.,<br> Sr. Sec'd. Notes, 144A(h) | 4.750 | &nbsp;&nbsp;10/20/28 |  | &nbsp;&nbsp;9148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9147908 |
| United Airlines 2013-1 Class A Pass-Through Trust,<br> Pass-Through Certificates(a) | 4.300 | &nbsp;&nbsp;02/15/27 |  | &nbsp;&nbsp;1172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171748 |
| United Airlines, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.375 | &nbsp;&nbsp;04/15/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;04/15/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165920 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11126676 |

---

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Apparel 0.1%** | **Apparel 0.1%** | **Apparel 0.1%** | **Apparel 0.1%** | **Apparel 0.1%** | **Apparel 0.1%** |
| Kontoor Brands, Inc.,<br> Gtd. Notes, 144A | 4.125% | &nbsp;&nbsp;11/15/29 |  | 1125 | &nbsp;&nbsp; $1046474 |
| Wolverine World Wide, Inc.,<br> Gtd. Notes, 144A | 4.000 | &nbsp;&nbsp;08/15/29 |  | &nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743319 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1789793 |
| **Auto Manufacturers 1.1%** | **Auto Manufacturers 1.1%** | **Auto Manufacturers 1.1%** | **Auto Manufacturers 1.1%** | **Auto Manufacturers 1.1%** | **Auto Manufacturers 1.1%** |
| Ford Motor Credit Co. LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.700 | &nbsp;&nbsp;08/10/26 |  | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926407 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.375 | &nbsp;&nbsp;11/13/25 |  | 2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2634729 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.125 | &nbsp;&nbsp;08/17/27 |  | &nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584785 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.800 | &nbsp;&nbsp;03/05/27 |  | 1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1041507 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.875 | &nbsp;&nbsp;11/07/29 |  | 2310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2316605 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.800 | &nbsp;&nbsp;05/12/28 |  | &nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644687 |
| General Motors Financial Co., Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.350 | &nbsp;&nbsp;07/15/27 |  | 2355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2384992 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.800 | &nbsp;&nbsp;01/07/29 |  | &nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716344 |
| Hyundai Capital America,<br> Sr. Unsec'd. Notes, 144A | 5.400 | &nbsp;&nbsp;06/23/32 |  | 4375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4437226 |
| Nissan Motor Co. Ltd. (Japan),<br> Sr. Unsec'd. Notes, 144A | 6.375 | &nbsp;&nbsp;07/17/33 | &nbsp;&nbsp;EUR | 7700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8943830 |
| Volkswagen Group of America Finance LLC (Germany), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(h) | 5.050 | &nbsp;&nbsp;03/27/28 |  | 8020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8058132 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.350 | &nbsp;&nbsp;03/27/30 |  | 2055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2083345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(h) | 5.650 | &nbsp;&nbsp;03/25/32 |  | 1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766210 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38538799 |
| **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** |
| Aptiv Swiss Holdings Ltd.,<br> Gtd. Notes | 5.150 | &nbsp;&nbsp;09/13/34 |  | &nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522587 |
| Clarios Global LP/Clarios US Finance Co.,<br> Sr. Sec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;02/15/30 |  | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102728 |
| Phinia, Inc.,<br> Sr. Sec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;04/15/29 |  | &nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385971 |
| Tenneco, Inc.,<br> Sr. Sec'd. Notes, 144A | 8.000 | &nbsp;&nbsp;11/17/28 |  | 5600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5559235 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6570521 |
| **Banks 2.5%** | **Banks 2.5%** | **Banks 2.5%** | **Banks 2.5%** | **Banks 2.5%** | **Banks 2.5%** |
| ABN AMRO Bank NV (Netherlands),<br> Sr. Non-Preferred Notes, 144A, MTN | 6.575(ff) | &nbsp;&nbsp;10/13/26 |  | 3700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3712861 |
| Banco de Credito del Peru SA (Peru),<br> Sub. Notes, 144A, MTN | 3.250(ff) | &nbsp;&nbsp;09/30/31 |  | 1055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035546 |
| Banco Santander SA (Spain), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Non-Preferred Notes | 5.538(ff) | &nbsp;&nbsp;03/14/30 |  | 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2263514 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Non-Preferred Notes | 5.552(ff) | &nbsp;&nbsp;03/14/28 |  | 3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3447534 |
| Bangkok Bank PCL (Thailand),<br> Sub. Notes, 144A | 3.466(ff) | &nbsp;&nbsp;09/23/36 |  | &nbsp;&nbsp;&nbsp;945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841334 |
| Bank of America Corp.,<br> Sr. Unsec'd. Notes, MTN | 4.271(ff) | &nbsp;&nbsp;07/23/29 |  | 1450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1443242 |
| Bank of Montreal (Canada),<br> Jr. Sub. Notes | 7.300(ff) | &nbsp;&nbsp;11/26/84 |  | 2380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2448425 |
| Barclays PLC (United Kingdom),<br> Sr. Unsec'd. Notes | 5.086(ff) | &nbsp;&nbsp;02/25/29 |  | 6800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6872364 |
| Cassa Depositi e Prestiti SpA (Italy), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.750 | &nbsp;&nbsp;05/05/26 |  | 2415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2432083 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.875 | &nbsp;&nbsp;04/30/29 |  | 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2287303 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** |
| Citigroup, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series CC | &nbsp;&nbsp;7.125 %(ff) | &nbsp;&nbsp;08/15/29(oo) | 6365 | &nbsp;&nbsp; $6513897 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series GG | &nbsp;&nbsp;6.875(ff) | &nbsp;&nbsp;08/15/30(oo) | 4042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4084770 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;2.976(ff) | &nbsp;&nbsp;11/05/30 | &nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811950 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;3.887(ff) | &nbsp;&nbsp;01/10/28 | &nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969919 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;4.542(ff) | &nbsp;&nbsp;09/19/30 | 5265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5243565 |
| Danske Bank A/S (Denmark),<br> Sr. Non-Preferred Notes, 144A | &nbsp;&nbsp;4.613(ff) | &nbsp;&nbsp;10/02/30 | 3745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3724872 |
| Deutsche Bank AG (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Non-Preferred Notes | &nbsp;&nbsp;4.999(ff) | &nbsp;&nbsp;09/11/30 | 2065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080551 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Non-Preferred Notes | &nbsp;&nbsp;6.819(ff) | &nbsp;&nbsp;11/20/29 | 3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3513796 |
| Freedom Mortgage Corp.,<br> Sr. Unsec'd. Notes, 144A | 12.000 | &nbsp;&nbsp;10/01/28 | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187106 |
| Goldman Sachs Group, Inc. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;3.814(ff) | &nbsp;&nbsp;04/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;3.850 | &nbsp;&nbsp;01/26/27 | 3940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3908134 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;4.223(ff) | &nbsp;&nbsp;05/01/29 | &nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;6.484(ff) | &nbsp;&nbsp;10/24/29 | 3110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3286874 |
| Mizrahi Tefahot Bank Ltd. (Israel),<br> Sub. Notes, 144A | &nbsp;&nbsp;3.077(ff) | &nbsp;&nbsp;04/07/31 | 1555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525626 |
| Morgan Stanley, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;6.407(ff) | &nbsp;&nbsp;11/01/29 | 2570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2711874 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN | &nbsp;&nbsp;2.239(ff) | &nbsp;&nbsp;07/21/32 | 2865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2483080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN | &nbsp;&nbsp;3.772(ff) | &nbsp;&nbsp;01/24/29 | 1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721168 |
| Societe Generale SA (France),<br> Sr. Non-Preferred Notes, 144A | &nbsp;&nbsp;2.889(ff) | &nbsp;&nbsp;06/09/32 | 9090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8036839 |
| Truist Financial Corp.,<br> Sr. Unsec'd. Notes, MTN | &nbsp;&nbsp;7.161(ff) | &nbsp;&nbsp;10/30/29 | 1005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084394 |
| UBS Group AG (Switzerland),<br> Sr. Unsec'd. Notes, 144A, MTN | &nbsp;&nbsp;2.095(ff) | &nbsp;&nbsp;02/11/32 | 3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2677544 |
| Wells Fargo & Co.,<br> Sr. Unsec'd. Notes, MTN | &nbsp;&nbsp;4.808(ff) | &nbsp;&nbsp;07/25/28 | 6475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6509625 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88028171 |
| **Building Materials 0.2%** | **Building Materials 0.2%** | **Building Materials 0.2%** | **Building Materials 0.2%** | **Building Materials 0.2%** |
| Camelot Return Merger Sub, Inc.,<br> Sr. Sec'd. Notes, 144A(a) | &nbsp;&nbsp;8.750 | &nbsp;&nbsp;08/01/28 | 1875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724119 |
| JELD-WEN, Inc.,<br> Gtd. Notes, 144A(a) | &nbsp;&nbsp;4.875 | &nbsp;&nbsp;12/15/27 | 2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275738 |
| Quikrete Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;6.375 | &nbsp;&nbsp;03/01/32 | 1110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;6.750 | &nbsp;&nbsp;03/01/33 | &nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246194 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5385269 |
| **Chemicals 1.1%** | **Chemicals 1.1%** | **Chemicals 1.1%** | **Chemicals 1.1%** | **Chemicals 1.1%** |
| Ashland, Inc.,<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;6.875 | &nbsp;&nbsp;05/15/43 | 4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4249999 |
| Braskem Netherlands Finance BV (Brazil), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;8.500 | &nbsp;&nbsp;01/12/31 | 1422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112715 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;4.500 | &nbsp;&nbsp;01/10/28 | 1630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246950 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;4.500 | &nbsp;&nbsp;01/31/30 | &nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442502 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | &nbsp;&nbsp;8.500 | &nbsp;&nbsp;01/12/31 | 7471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5846058 |
| Celanese US Holdings LLC,<br> Gtd. Notes | &nbsp;&nbsp;6.850 | &nbsp;&nbsp;11/15/28 | 1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119788 |
| DuPont de Nemours, Inc.,<br> Sr. Unsec'd. Notes(h) | &nbsp;&nbsp;4.725 | &nbsp;&nbsp;11/15/28 | 4070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4118003 |
| OCP SA (Morocco), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;3.750 | &nbsp;&nbsp;06/23/31 | &nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192117 |

---

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Chemicals (cont'd.)** | **Chemicals (cont'd.)** | **Chemicals (cont'd.)** | **Chemicals (cont'd.)** | **Chemicals (cont'd.)** | **Chemicals (cont'd.)** |
| OCP SA (Morocco), (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.750% | &nbsp;&nbsp;05/02/34 |  | 5469 | &nbsp;&nbsp; $5687243 |
| Olympus Water US Holding Corp.,<br> Sr. Sec'd. Notes, 144A | 9.750 | &nbsp;&nbsp;11/15/28 |  | 2425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543314 |
| Orbia Advance Corp. SAB de CV (Mexico),<br> Gtd. Notes, 144A | 6.800 | &nbsp;&nbsp;05/13/30 |  | 4780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4888410 |
| Sasol Financing USA LLC (South Africa),<br> Gtd. Notes | 4.375 | &nbsp;&nbsp;09/18/26 |  | &nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345450 |
| Syensqo Finance America LLC (Belgium),<br> Gtd. Notes, 144A(a) | 5.650 | &nbsp;&nbsp;06/04/29 |  | 3060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3151026 |
| Yara International ASA (Brazil),<br> Sr. Unsec'd. Notes, 144A | 3.148 | &nbsp;&nbsp;06/04/30 |  | 4755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4375931 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39319506 |
| **Coal 0.0%** | **Coal 0.0%** | **Coal 0.0%** | **Coal 0.0%** | **Coal 0.0%** | **Coal 0.0%** |
| Coronado Finance Pty Ltd. (Australia),<br> Sr. Sec'd. Notes, 144A | 9.250 | &nbsp;&nbsp;10/01/29 |  | 1150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878312 |
| **Commercial Services 0.4%** | **Commercial Services 0.4%** | **Commercial Services 0.4%** | **Commercial Services 0.4%** | **Commercial Services 0.4%** | **Commercial Services 0.4%** |
| Alta Equipment Group, Inc.,<br> Sec'd. Notes, 144A | 9.000 | &nbsp;&nbsp;06/01/29 |  | &nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888072 |
| AMN Healthcare, Inc.,<br> Gtd. Notes, 144A | 4.000 | &nbsp;&nbsp;04/15/29 |  | 3950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3628102 |
| Boost Newco Borrower LLC,<br> Sr. Sec'd. Notes, 144A | 7.500 | &nbsp;&nbsp;01/15/31 |  | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211454 |
| DCLI Bidco LLC,<br> Second Mortgage, 144A | 7.750 | &nbsp;&nbsp;11/15/29 |  | 3650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3723228 |
| DP World Ltd. (United Arab Emirates),<br> Sr. Unsec'd. Notes, 144A | 2.375 | &nbsp;&nbsp;09/25/26 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682864 |
| ERAC USA Finance LLC,<br> Gtd. Notes, 144A | 6.700 | &nbsp;&nbsp;06/01/34 |  | &nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122677 |
| Herc Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 7.250 | &nbsp;&nbsp;06/15/33 |  | &nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373032 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.000 | &nbsp;&nbsp;06/15/30 |  | &nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929325 |
| Service Corp. International,<br> Sr. Unsec'd. Notes(a) | 5.750 | &nbsp;&nbsp;10/15/32 |  | &nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731641 |
| United Rentals North America, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 3.750 | &nbsp;&nbsp;01/15/32 |  | &nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295762 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes(a) | 5.250 | &nbsp;&nbsp;01/15/30 |  | &nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698598 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12284755 |
| **Computers 0.2%** | **Computers 0.2%** | **Computers 0.2%** | **Computers 0.2%** | **Computers 0.2%** | **Computers 0.2%** |
| CA Magnum Holdings (India),<br> Sr. Sec'd. Notes, 144A | 5.375 | &nbsp;&nbsp;10/31/26 |  | 5225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5183853 |
| McAfee Corp.,<br> Sr. Unsec'd. Notes, 144A | 7.375 | &nbsp;&nbsp;02/15/30 |  | &nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626464 |
| NCR Atleos Corp.,<br> Sr. Sec'd. Notes, 144A | 9.500 | &nbsp;&nbsp;04/01/29 |  | &nbsp;&nbsp;&nbsp;761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;824647 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6634964 |
| **Diversified Financial Services 0.8%** | **Diversified Financial Services 0.8%** | **Diversified Financial Services 0.8%** | **Diversified Financial Services 0.8%** | **Diversified Financial Services 0.8%** | **Diversified Financial Services 0.8%** |
| Blackstone Private Credit Fund,<br> Sr. Sec'd. Notes^ | 5.610 | &nbsp;&nbsp;05/03/27 |  | &nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946116 |
| Cantor Fitzgerald LP,<br> Sr. Unsec'd. Notes, 144A | 7.200 | &nbsp;&nbsp;12/12/28 |  | 1285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365919 |
| Capital One Financial Corp.,<br> Sr. Unsec'd. Notes | 7.624(ff) | &nbsp;&nbsp;10/30/31 |  | &nbsp;&nbsp;&nbsp;935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052426 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Diversified Financial Services (cont'd.)** | **Diversified Financial Services (cont'd.)** | **Diversified Financial Services (cont'd.)** | **Diversified Financial Services (cont'd.)** | **Diversified Financial Services (cont'd.)** | **Diversified Financial Services (cont'd.)** |
| Freedom Mortgage Holdings LLC,<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;8.375% | &nbsp;&nbsp;04/01/32 |  | &nbsp;&nbsp;&nbsp;610 | &nbsp;&nbsp; $623051 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp.,<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;08/15/28 |  | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385825 |
| Jerrold Finco PLC (United Kingdom),<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;7.500 | &nbsp;&nbsp;06/15/31 | &nbsp;&nbsp;GBP | 6400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8647640 |
| LPL Holdings, Inc.,<br> Gtd. Notes | &nbsp;&nbsp;5.700 | &nbsp;&nbsp;05/20/27 |  | 1605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631324 |
| Nationstar Mortgage Holdings, Inc.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;11/15/31 |  | 1675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1689377 |
| OneMain Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;3.875 | &nbsp;&nbsp;09/15/28 |  | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144507 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;05/15/29 |  | 1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787046 |
| PennyMac Financial Services, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;4.250 | &nbsp;&nbsp;02/15/29 |  | 2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492192 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;7.875 | &nbsp;&nbsp;12/15/29 |  | &nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749205 |
| Power Finance Corp. Ltd. (India),<br> Sr. Unsec'd. Notes, EMTN | &nbsp;&nbsp;5.250 | &nbsp;&nbsp;08/10/28 |  | 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1113332 |
| Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;2.875 | &nbsp;&nbsp;10/15/26 |  | 3646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3555990 |
| United Wholesale Mortgage LLC,<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.500 | &nbsp;&nbsp;11/15/25 |  | 1052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1052020 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28235970 |
| **Electric 1.4%** | **Electric 1.4%** | **Electric 1.4%** | **Electric 1.4%** | **Electric 1.4%** | **Electric 1.4%** |
| Algonquin Power & Utilities Corp. (Canada),<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;5.365(cc) | &nbsp;&nbsp;06/15/26 |  | 1635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1643695 |
| American Electric Power Co., Inc.,<br> Jr. Sub. Notes | &nbsp;&nbsp;5.699 | &nbsp;&nbsp;08/15/25 |  | 2075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074453 |
| Aydem Yenilenebilir Enerji A/S (Turkey), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | &nbsp;&nbsp;7.750 | &nbsp;&nbsp;02/02/27 |  | 3150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3115413 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;7.750 | &nbsp;&nbsp;02/02/27 |  | &nbsp;&nbsp;&nbsp;567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560774 |
| Calpine Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;4.625 | &nbsp;&nbsp;02/01/29 |  | 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474363 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;02/01/31 |  | 2695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2666996 |
| Clean Renewable Power Mauritius Pte Ltd. (India),<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;4.250 | &nbsp;&nbsp;03/25/27 |  | &nbsp;&nbsp;&nbsp;382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371382 |
| Duke Energy Carolinas LLC,<br> First Ref. Mortgage | &nbsp;&nbsp;4.000 | &nbsp;&nbsp;09/30/42 |  | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41118 |
| Enel Finance International NV (Italy),<br> Gtd. Notes, 144A | &nbsp;&nbsp;5.125 | &nbsp;&nbsp;06/26/29 |  | 6560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6654283 |
| Eskom Holdings SOC Ltd. (South Africa), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gov't. Gtd. Notes, 144A, MTN | &nbsp;&nbsp;6.350 | &nbsp;&nbsp;08/10/28 |  | 1337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1358165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gov't. Gtd. Notes, MTN | &nbsp;&nbsp;6.350 | &nbsp;&nbsp;08/10/28 |  | &nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, MTN | &nbsp;&nbsp;8.450 | &nbsp;&nbsp;08/10/28 |  | &nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305950 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | &nbsp;&nbsp;8.450 | &nbsp;&nbsp;08/10/28 |  | 3984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4203120 |
| Israel Electric Corp. Ltd. (Israel),<br> Sr. Sec'd. Notes, 144A, GMTN | &nbsp;&nbsp;4.250 | &nbsp;&nbsp;08/14/28 |  | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2924700 |
| Mong Duong Finance Holdings BV (Vietnam),<br> Sr. Sec'd. Notes | &nbsp;&nbsp;5.125 | &nbsp;&nbsp;05/07/29 |  | &nbsp;&nbsp;&nbsp;877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857451 |
| MVM Energetika Zrt (Hungary), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;03/13/31 |  | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1236000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;7.500 | &nbsp;&nbsp;06/09/28 |  | 2330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2439254 |
| NRG Energy, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;3.625 | &nbsp;&nbsp;02/15/31 |  | 1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350117 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;3.875 | &nbsp;&nbsp;02/15/32 |  | 1050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959023 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, 144A | 10.250(ff) | &nbsp;&nbsp;03/15/28(oo) |  | 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985436 |
| Vistra Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, 144A | &nbsp;&nbsp;7.000(ff) | &nbsp;&nbsp;12/15/26(oo) |  | 2255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2276053 |

---

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** |
| Vistra Corp., (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, 144A | 8.000 %(ff) | &nbsp;&nbsp;10/15/26(oo) |  | 4125 | &nbsp;&nbsp; $4208602 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series C, 144A | 8.875(ff) | &nbsp;&nbsp;01/15/29(oo) |  | 3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3523863 |
| Vistra Operations Co. LLC,<br> Gtd. Notes, 144A | 5.625 | &nbsp;&nbsp;02/15/27 |  | 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022566 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48469149 |
| **Engineering & Construction 0.4%** | **Engineering & Construction 0.4%** | **Engineering & Construction 0.4%** | **Engineering & Construction 0.4%** | **Engineering & Construction 0.4%** | **Engineering & Construction 0.4%** |
| Cellnex Finance Co. SA (Spain),<br> Gtd. Notes, EMTN | 2.000 | &nbsp;&nbsp;02/15/33 | &nbsp;&nbsp;EUR | 1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128294 |
| Cellnex Telecom SA (Spain),<br> Sr. Unsec'd. Notes, EMTN | 1.750 | &nbsp;&nbsp;10/23/30 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744351 |
| MasTec, Inc.,<br> Sr. Unsec'd. Notes | 5.900 | &nbsp;&nbsp;06/15/29 |  | 3705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3838799 |
| Mexico City Airport Trust (Mexico), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 3.875 | &nbsp;&nbsp;04/30/28 |  | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.250 | &nbsp;&nbsp;10/31/26 |  | &nbsp;&nbsp;&nbsp;218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216775 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;10/31/46 |  | &nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348893 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;07/31/47 |  | 6995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5859572 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14077684 |
| **Entertainment 0.4%** | **Entertainment 0.4%** | **Entertainment 0.4%** | **Entertainment 0.4%** | **Entertainment 0.4%** | **Entertainment 0.4%** |
| Caesars Entertainment, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | 4.625 | &nbsp;&nbsp;10/15/29 |  | 4575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4325349 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 7.000 | &nbsp;&nbsp;02/15/30 |  | 1450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495823 |
| CCM Merger, Inc.,<br> Sr. Unsec'd. Notes, 144A | 6.375 | &nbsp;&nbsp;05/01/26 |  | 1525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525120 |
| Jacobs Entertainment, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779663 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674626 |
| Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.,<br> Gtd. Notes, 144A | 5.875 | &nbsp;&nbsp;09/01/31 |  | &nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293408 |
| Voyager Parent LLC,<br> Sr. Sec'd. Notes, 144A | 9.250 | &nbsp;&nbsp;07/01/32 |  | 1255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327908 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.250 | &nbsp;&nbsp;03/15/33 |  | 1190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1193031 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | 7.125 | &nbsp;&nbsp;02/15/31 |  | &nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723125 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12338053 |
| **Environmental Control 0.0%** | **Environmental Control 0.0%** | **Environmental Control 0.0%** | **Environmental Control 0.0%** | **Environmental Control 0.0%** | **Environmental Control 0.0%** |
| GFL Environmental, Inc.,<br> Sr. Sec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;01/15/31 |  | &nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321237 |
| **Foods 0.8%** | **Foods 0.8%** | **Foods 0.8%** | **Foods 0.8%** | **Foods 0.8%** | **Foods 0.8%** |
| Albertson's Cos., Inc./Safeway, Inc./New Albertson's LP/Albertson's LLC,<br> Gtd. Notes, 144A | 6.500 | &nbsp;&nbsp;02/15/28 |  | &nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457447 |
| B&G Foods, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.250 | &nbsp;&nbsp;09/15/27 |  | 1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 8.000 | &nbsp;&nbsp;09/15/28 |  | 3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3366901 |
| Bellis Acquisition Co. PLC (United Kingdom),<br> Sr. Sec'd. Notes | 8.125 | &nbsp;&nbsp;05/14/30 | &nbsp;&nbsp;GBP | 6950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8710872 |
| Ingles Markets, Inc.,<br> Sr. Unsec'd. Notes, 144A | 4.000 | &nbsp;&nbsp;06/15/31 |  | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255895 |
| Lamb Weston Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.125 | &nbsp;&nbsp;01/31/30 |  | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166288 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.375 | &nbsp;&nbsp;01/31/32 |  | 2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2171302 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Foods (cont'd.)** | **Foods (cont'd.)** | **Foods (cont'd.)** | **Foods (cont'd.)** | **Foods (cont'd.)** |
| Pilgrim's Pride Corp.,<br> Gtd. Notes | 6.250% | &nbsp;&nbsp;07/01/33 | &nbsp;&nbsp;2270 | &nbsp;&nbsp; $2384823 |
| Post Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.625 | &nbsp;&nbsp;04/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214929 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.375 | &nbsp;&nbsp;03/01/33 | &nbsp;&nbsp;1055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057107 |
| Smithfield Foods, Inc.,<br> Gtd. Notes, 144A | 3.000 | &nbsp;&nbsp;10/15/30 | &nbsp;&nbsp;8270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7535546 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27452210 |
| **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** |
| Georgia-Pacific LLC,<br> Sr. Unsec'd. Notes | 7.375 | &nbsp;&nbsp;12/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403246 |
| LD Celulose International GmbH (Brazil),<br> Sr. Sec'd. Notes, 144A | 7.950 | &nbsp;&nbsp;01/26/32 | &nbsp;&nbsp;3085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3225367 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3628613 |
| **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** |
| ENN Clean Energy International Investment Ltd. (China),<br> Gtd. Notes, 144A | 3.375 | &nbsp;&nbsp;05/12/26 | &nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328980 |
| Venture Global Plaquemines LNG LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 7.500 | &nbsp;&nbsp;05/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472976 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 7.750 | &nbsp;&nbsp;05/01/35 | &nbsp;&nbsp;&nbsp;&nbsp;733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803853 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605809 |
| **Healthcare-Products 0.0%** | **Healthcare-Products 0.0%** | **Healthcare-Products 0.0%** | **Healthcare-Products 0.0%** | **Healthcare-Products 0.0%** |
| Medline Borrower LP,<br> Sr. Sec'd. Notes, 144A | 3.875 | &nbsp;&nbsp;04/01/29 | &nbsp;&nbsp;1710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630728 |
| **Healthcare-Services 0.2%** | **Healthcare-Services 0.2%** | **Healthcare-Services 0.2%** | **Healthcare-Services 0.2%** | **Healthcare-Services 0.2%** |
| DaVita, Inc.,<br> Gtd. Notes, 144A | 4.625 | &nbsp;&nbsp;06/01/30 | &nbsp;&nbsp;4450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4246776 |
| Elevance Health, Inc.,<br> Sr. Unsec'd. Notes | 4.650 | &nbsp;&nbsp;01/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104114 |
| Select Medical Corp.,<br> Gtd. Notes, 144A(a) | 6.250 | &nbsp;&nbsp;12/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494649 |
| Tenet Healthcare Corp.,<br> Sr. Unsec'd. Notes | 6.875 | &nbsp;&nbsp;11/15/31 | &nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277673 |
| UnitedHealth Group, Inc.,<br> Sr. Unsec'd. Notes | 5.300 | &nbsp;&nbsp;06/15/35 | &nbsp;&nbsp;1255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269056 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7392268 |
| **Holding Companies-Diversified 0.3%** | **Holding Companies-Diversified 0.3%** | **Holding Companies-Diversified 0.3%** | **Holding Companies-Diversified 0.3%** | **Holding Companies-Diversified 0.3%** |
| Clue Opco LLC,<br> Sr. Sec'd. Notes, 144A | 9.500 | &nbsp;&nbsp;10/15/31 | 10314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10937211 |
| **Home Builders 0.2%** | **Home Builders 0.2%** | **Home Builders 0.2%** | **Home Builders 0.2%** | **Home Builders 0.2%** |
| Beazer Homes USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.875 | &nbsp;&nbsp;10/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 7.250 | &nbsp;&nbsp;10/15/29 | &nbsp;&nbsp;3475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3496419 |
| M/I Homes, Inc.,<br> Gtd. Notes | 4.950 | &nbsp;&nbsp;02/01/28 | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990846 |
| Taylor Morrison Communities, Inc.,<br> Gtd. Notes, 144A | 5.875 | &nbsp;&nbsp;06/15/27 | &nbsp;&nbsp;2560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580682 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7217567 |

---

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Home Furnishings 0.0%** | **Home Furnishings 0.0%** | **Home Furnishings 0.0%** | **Home Furnishings 0.0%** | **Home Furnishings 0.0%** | **Home Furnishings 0.0%** |
| Whirlpool Corp.,<br> Sr. Unsec'd. Notes | 6.125% | &nbsp;&nbsp;06/15/30 |  | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; $274355 |
| **Housewares 0.0%** | **Housewares 0.0%** | **Housewares 0.0%** | **Housewares 0.0%** | **Housewares 0.0%** | **Housewares 0.0%** |
| Newell Brands, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes(a) | 6.375 | &nbsp;&nbsp;05/15/30 |  | &nbsp;&nbsp;&nbsp;355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345063 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.625 | &nbsp;&nbsp;05/15/32 |  | &nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176987 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 8.500 | &nbsp;&nbsp;06/01/28 |  | &nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534996 |
| SWF Holdings I Corp.,<br> Sr. Unsec'd. Notes, 144A | 6.500 | &nbsp;&nbsp;10/01/29 |  | &nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123473 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1180519 |
| **Insurance 0.1%** | **Insurance 0.1%** | **Insurance 0.1%** | **Insurance 0.1%** | **Insurance 0.1%** | **Insurance 0.1%** |
| Acrisure LLC/Acrisure Finance, Inc.,<br> Sr. Sec'd. Notes, 144A | 7.500 | &nbsp;&nbsp;11/06/30 |  | 3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3408839 |
| Liberty Mutual Group, Inc.,<br> Gtd. Notes, 144A | 4.569 | &nbsp;&nbsp;02/01/29 |  | 1614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1611622 |
| Lincoln National Corp.,<br> Sr. Unsec'd. Notes | 7.000 | &nbsp;&nbsp;06/15/40 |  | &nbsp;&nbsp;&nbsp;&nbsp;32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35214 |
| Teachers Insurance & Annuity Association of America,<br> Sub. Notes, 144A | 6.850 | &nbsp;&nbsp;12/16/39 |  | &nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60540 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5116215 |
| **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** |
| Gen Digital, Inc.,<br> Gtd. Notes, 144A | 6.250 | &nbsp;&nbsp;04/01/33 |  | 1494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1523371 |
| United Group BV (Slovenia),<br> Sr. Sec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;02/15/31 | &nbsp;&nbsp;EUR | 2950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3475986 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4999357 |
| **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** |
| Big River Steel LLC/BRS Finance Corp.,<br> Sr. Sec'd. Notes, 144A | 6.625 | &nbsp;&nbsp;01/31/29 |  | 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1599344 |
| Champion Iron Canada, Inc. (Canada),<br> Gtd. Notes, 144A | 7.875 | &nbsp;&nbsp;07/15/32 |  | 3530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3603954 |
| Cleveland-Cliffs, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | 6.875 | &nbsp;&nbsp;11/01/29 |  | &nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580209 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 7.375 | &nbsp;&nbsp;05/01/33 |  | &nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365703 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | 7.500 | &nbsp;&nbsp;09/15/31 |  | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999544 |
| Mineral Resources Ltd. (Australia),<br> Sr. Unsec'd. Notes, 144A(a) | 9.250 | &nbsp;&nbsp;10/01/28 |  | &nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599438 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7748192 |
| **Leisure Time 0.3%** | **Leisure Time 0.3%** | **Leisure Time 0.3%** | **Leisure Time 0.3%** | **Leisure Time 0.3%** | **Leisure Time 0.3%** |
| Carnival Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.750 | &nbsp;&nbsp;03/01/27 |  | &nbsp;&nbsp;&nbsp;281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283931 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.750 | &nbsp;&nbsp;03/15/30 |  | 2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2079469 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.000 | &nbsp;&nbsp;08/01/28 |  | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120931 |
| NCL Corp. Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.875 | &nbsp;&nbsp;03/15/26 |  | &nbsp;&nbsp;&nbsp;589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589442 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 8.125 | &nbsp;&nbsp;01/15/29 |  | &nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576659 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;02/01/32 |  | &nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017387 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.750 | &nbsp;&nbsp;02/15/29 |  | 1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797614 |
| Royal Caribbean Cruises Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A(a) | 5.500 | &nbsp;&nbsp;08/31/26 |  | &nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952827 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;04/01/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25264 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.625 | &nbsp;&nbsp;09/30/31 |  | &nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851211 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Leisure Time (cont'd.)** | **Leisure Time (cont'd.)** | **Leisure Time (cont'd.)** | **Leisure Time (cont'd.)** | **Leisure Time (cont'd.)** | **Leisure Time (cont'd.)** |
| Viking Cruises Ltd.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;5.875% | &nbsp;&nbsp;09/15/27 |  | &nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp; $572125 |
| Viking Ocean Cruises Ship VII Ltd.,<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;5.625 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870301 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9737161 |
| **Lodging 0.2%** | **Lodging 0.2%** | **Lodging 0.2%** | **Lodging 0.2%** | **Lodging 0.2%** | **Lodging 0.2%** |
| Boyd Gaming Corp.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;4.750 | &nbsp;&nbsp;06/15/31 |  | &nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519221 |
| MGM China Holdings Ltd. (Macau),<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;4.750 | &nbsp;&nbsp;02/01/27 |  | &nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693875 |
| MGM Resorts International, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;4.750 | &nbsp;&nbsp;10/15/28 |  | 2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369811 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.125 | &nbsp;&nbsp;09/15/29 |  | 1675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699451 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes(a) | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;04/15/32 |  | 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829389 |
| Sands China Ltd. (Macau),<br> Sr. Unsec'd. Notes(a) | &nbsp;&nbsp;5.400 | &nbsp;&nbsp;08/08/28 |  | &nbsp;&nbsp;&nbsp;344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347763 |
| Wynn Macau Ltd. (Macau),<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.500 | &nbsp;&nbsp;10/01/27 |  | 1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021156 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8480666 |
| **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** |
| AGCO Corp.,<br> Gtd. Notes | &nbsp;&nbsp;5.450 | &nbsp;&nbsp;03/21/27 |  | &nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857896 |
| Chart Industries, Inc.,<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;7.500 | &nbsp;&nbsp;01/01/30 |  | &nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890447 |
| Maxim Crane Works Holdings Capital LLC,<br> Sec'd. Notes, 144A | 11.500 | &nbsp;&nbsp;09/01/28 |  | 1875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1988647 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3736990 |
| **Media 0.6%** | **Media 0.6%** | **Media 0.6%** | **Media 0.6%** | **Media 0.6%** | **Media 0.6%** |
| CCO Holdings LLC/CCO Holdings Capital Corp.,<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;4.750 | &nbsp;&nbsp;03/01/30 |  | 1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234881 |
| Charter Communications Operating LLC/Charter Communications Operating Capital,<br> Sr. Sec'd. Notes(a) | &nbsp;&nbsp;2.250 | &nbsp;&nbsp;01/15/29 |  | 1220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120584 |
| CSC Holdings LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;3.375 | &nbsp;&nbsp;02/15/31 |  | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263325 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;4.125 | &nbsp;&nbsp;12/01/30 |  | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.375 | &nbsp;&nbsp;02/01/28 |  | 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472011 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.500 | &nbsp;&nbsp;04/15/27 |  | 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452344 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;4.625 | &nbsp;&nbsp;12/01/30 |  | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467613 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;01/15/30 |  | 3325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636764 |
| DISH DBS Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;5.125 | &nbsp;&nbsp;06/01/29(d) |  | &nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309996 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;7.375 | &nbsp;&nbsp;07/01/28(d) |  | &nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268573 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;7.750 | &nbsp;&nbsp;07/01/26(d) |  | &nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488828 |
| DISH Network Corp.,<br> Sr. Sec'd. Notes, 144A | 11.750 | &nbsp;&nbsp;11/15/27 |  | 5150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5362236 |
| Sinclair Television Group, Inc.,<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;8.125 | &nbsp;&nbsp;02/15/33 |  | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281242 |
| Univision Communications, Inc.,<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;08/15/28 |  | 2185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245285 |
| Virgin Media Secured Finance PLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | &nbsp;&nbsp;4.125 | &nbsp;&nbsp;08/15/30 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830808 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | &nbsp;&nbsp;4.250 | &nbsp;&nbsp;01/15/30 | &nbsp;&nbsp;GBP | 2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3272650 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20908688 |

---

------

#### PGIM Absolute Return Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Mining 0.4%** | **Mining 0.4%** | **Mining 0.4%** | **Mining 0.4%** | **Mining 0.4%** |
| AngloGold Ashanti Holdings PLC (Australia),<br> Gtd. Notes | 3.375% | &nbsp;&nbsp;11/01/28 | &nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp; $697669 |
| Capstone Copper Corp. (Canada),<br> Gtd. Notes, 144A | 6.750 | &nbsp;&nbsp;03/31/33 | &nbsp;&nbsp;&nbsp;445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451675 |
| First Quantum Minerals Ltd. (Zambia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.875 | &nbsp;&nbsp;10/15/27 | &nbsp;&nbsp;&nbsp;766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765043 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 8.000 | &nbsp;&nbsp;03/01/33 | 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | 9.375 | &nbsp;&nbsp;03/01/29 | 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690000 |
| Freeport Indonesia PT (Indonesia),<br> Sr. Unsec'd. Notes, EMTN | 5.315 | &nbsp;&nbsp;04/14/32 | &nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603000 |
| Hecla Mining Co.,<br> Gtd. Notes | 7.250 | &nbsp;&nbsp;02/15/28 | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1211906 |
| Hudbay Minerals, Inc. (Canada),<br> Gtd. Notes, 144A | 4.500 | &nbsp;&nbsp;04/01/26 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990110 |
| Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT (Indonesia),<br> Sr. Unsec'd. Notes | 6.530 | &nbsp;&nbsp;11/15/28 | 1650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1751640 |
| New Gold, Inc. (Canada),<br> Sr. Unsec'd. Notes, 144A | 6.875 | &nbsp;&nbsp;04/01/32 | &nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313012 |
| Novelis Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.250 | &nbsp;&nbsp;11/15/26 | 1425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401973 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | 6.875 | &nbsp;&nbsp;01/30/30 | &nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720808 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12450836 |
| **Multi-National 0.0%** | **Multi-National 0.0%** | **Multi-National 0.0%** | **Multi-National 0.0%** | **Multi-National 0.0%** |
| Corp. Andina de Fomento (Supranational Bank),<br> Sr. Unsec'd. Notes | 6.000 | &nbsp;&nbsp;04/26/27 | 1665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709460 |
| **Office/Business Equipment 0.1%** | **Office/Business Equipment 0.1%** | **Office/Business Equipment 0.1%** | **Office/Business Equipment 0.1%** | **Office/Business Equipment 0.1%** |
| CDW LLC/CDW Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.250 | &nbsp;&nbsp;04/01/28 | 4010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3970786 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.100 | &nbsp;&nbsp;03/01/30 | 1255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262948 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5233734 |
| **Oil & Gas 1.7%** | **Oil & Gas 1.7%** | **Oil & Gas 1.7%** | **Oil & Gas 1.7%** | **Oil & Gas 1.7%** |
| Aker BP ASA (Norway), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 3.750 | &nbsp;&nbsp;01/15/30 | 2760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2625252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.600 | &nbsp;&nbsp;06/13/28 | 2440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2508145 |
| Antero Resources Corp.,<br> Gtd. Notes, 144A | 5.375 | &nbsp;&nbsp;03/01/30 | 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1390788 |
| Ascent Resources Utica Holdings LLC/ARU Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 9.000 | &nbsp;&nbsp;11/01/27 | &nbsp;&nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093828 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A(a) | 6.625 | &nbsp;&nbsp;10/15/32 | 1710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1739863 |
| Civitas Resources, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 8.375 | &nbsp;&nbsp;07/01/28 | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128694 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 8.625 | &nbsp;&nbsp;11/01/30 | 1975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016366 |
| Crescent Energy Finance LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 7.625 | &nbsp;&nbsp;04/01/32 | &nbsp;&nbsp;&nbsp;860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840665 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | 9.250 | &nbsp;&nbsp;02/15/28 | &nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338826 |
| Ecopetrol SA (Colombia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.625 | &nbsp;&nbsp;11/02/31 | &nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.875 | &nbsp;&nbsp;04/29/30 | 2170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2172821 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 8.625 | &nbsp;&nbsp;01/19/29 | 4495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4825158 |
| Expand Energy Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes(a) | 4.750 | &nbsp;&nbsp;02/01/32 | 1775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1723989 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.375 | &nbsp;&nbsp;02/01/29 | &nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725916 |
| Hilcorp Energy I LP/Hilcorp Finance Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.000 | &nbsp;&nbsp;02/01/31 | 1775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1713601 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.250 | &nbsp;&nbsp;11/01/28 | &nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703161 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** |
| Hilcorp Energy I LP/Hilcorp Finance Co., (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;6.250% | &nbsp;&nbsp;04/15/32 |  | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; $480075 |
| Nabors Industries, Inc.,<br> Gtd. Notes, 144A(a) | &nbsp;&nbsp;9.125 | &nbsp;&nbsp;01/31/30 |  | 1725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708803 |
| New Generation Gas Gathering LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, 3 Month SOFR + 5.750% (Cap N/A, Floor 2.000%)^ | 10.058(c) | &nbsp;&nbsp;09/30/29 |  | &nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346081 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, 3 Month SOFR + 5.750% (Cap N/A, Floor 2.000%)^ | 10.058(c) | &nbsp;&nbsp;09/30/29 |  | &nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415297 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, 3 Month SOFR + 5.750% (Cap N/A, Floor 2.000%)^ | 10.058 | &nbsp;&nbsp;09/30/29 |  | &nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346081 |
| Occidental Petroleum Corp.,<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;09/01/30 |  | 1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345697 |
| Ovintiv, Inc.,<br> Gtd. Notes(a) | &nbsp;&nbsp;5.650 | &nbsp;&nbsp;05/15/28 |  | 2145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2198225 |
| Permian Resources Operating LLC,<br> Gtd. Notes, 144A | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;04/15/27 |  | 1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047669 |
| Petrobras Global Finance BV (Brazil), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;5.375 | &nbsp;&nbsp;10/01/29 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036974 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;01/16/34 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386141 |
| Petroleos Mexicanos (Mexico), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;5.350 | &nbsp;&nbsp;02/12/28 |  | 2188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2129909 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;03/13/27 |  | 6800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6798164 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;06/15/38 |  | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34461 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.700 | &nbsp;&nbsp;02/16/32 |  | 2905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2759750 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.840 | &nbsp;&nbsp;01/23/30 |  | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, EMTN | &nbsp;&nbsp;2.750 | &nbsp;&nbsp;04/21/27 | &nbsp;&nbsp;EUR | 5770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6383100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, EMTN | &nbsp;&nbsp;4.875 | &nbsp;&nbsp;02/21/28 | &nbsp;&nbsp;EUR | 1362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542171 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, MTN | &nbsp;&nbsp;6.875 | &nbsp;&nbsp;08/04/26 |  | &nbsp;&nbsp;&nbsp;443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444506 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, MTN | &nbsp;&nbsp;8.750 | &nbsp;&nbsp;06/02/29 |  | &nbsp;&nbsp;&nbsp;514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540877 |
| Precision Drilling Corp. (Canada),<br> Gtd. Notes, 144A(a) | &nbsp;&nbsp;7.125 | &nbsp;&nbsp;01/15/26 |  | &nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224122 |
| Preem Holdings AB (Sweden),<br> Sr. Unsec'd. Notes | 12.000 | &nbsp;&nbsp;06/30/27 | &nbsp;&nbsp;EUR | 1760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2064148 |
| Transocean, Inc.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;8.250 | &nbsp;&nbsp;05/15/29 |  | &nbsp;&nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314920 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57965797 |
| **Oil & Gas Services 0.0%** | **Oil & Gas Services 0.0%** | **Oil & Gas Services 0.0%** | **Oil & Gas Services 0.0%** | **Oil & Gas Services 0.0%** | **Oil & Gas Services 0.0%** |
| Cameron International Corp.,<br> Gtd. Notes | &nbsp;&nbsp;5.950 | &nbsp;&nbsp;06/01/41 |  | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96653 |
| **Packaging & Containers 0.2%** | **Packaging & Containers 0.2%** | **Packaging & Containers 0.2%** | **Packaging & Containers 0.2%** | **Packaging & Containers 0.2%** | **Packaging & Containers 0.2%** |
| Ball Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes(a) | &nbsp;&nbsp;2.875 | &nbsp;&nbsp;08/15/30 |  | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.000 | &nbsp;&nbsp;06/15/29 |  | 2375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2417440 |
| Clydesdale Acquisition Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;8.750 | &nbsp;&nbsp;04/15/30 |  | 2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080866 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;6.750 | &nbsp;&nbsp;04/15/32 |  | &nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742227 |
| Sealed Air Corp./Sealed Air Corp. US,<br> Gtd. Notes, 144A | &nbsp;&nbsp;6.125 | &nbsp;&nbsp;02/01/28 |  | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126197 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6265278 |
| **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** | **Pharmaceuticals 0.2%** |
| AdaptHealth LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;4.625 | &nbsp;&nbsp;08/01/29 |  | &nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702919 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;6.125 | &nbsp;&nbsp;08/01/28 |  | &nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722052 |
| Bausch Health Cos., Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;01/30/28 |  | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.250 | &nbsp;&nbsp;01/30/30 |  | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176000 |

---

------

#### PGIM Absolute Return Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Pharmaceuticals (cont'd.)** | **Pharmaceuticals (cont'd.)** | **Pharmaceuticals (cont'd.)** | **Pharmaceuticals (cont'd.)** | **Pharmaceuticals (cont'd.)** |
| Bausch Health Cos., Inc., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.250% | &nbsp;&nbsp;02/15/31 | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp; $166375 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.250 | &nbsp;&nbsp;02/15/29 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707670 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 7.000 | &nbsp;&nbsp;01/15/28 | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240281 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.875 | &nbsp;&nbsp;06/01/28 | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243375 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.125 | &nbsp;&nbsp;04/30/28 | &nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614915 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A(a) | 5.125 | &nbsp;&nbsp;04/30/31 | &nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389245 |
| Utah Acquisition Sub, Inc.,<br> Gtd. Notes | 5.250 | &nbsp;&nbsp;06/15/46 | &nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420065 |
| Viatris, Inc.,<br> Gtd. Notes | 4.000 | &nbsp;&nbsp;06/22/50 | 2190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441214 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6348139 |
| **Pipelines 1.0%** | **Pipelines 1.0%** | **Pipelines 1.0%** | **Pipelines 1.0%** | **Pipelines 1.0%** |
| Antero Midstream Partners LP/Antero Midstream Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.375 | &nbsp;&nbsp;06/15/29 | 1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1263353 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.625 | &nbsp;&nbsp;02/01/32 | &nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595542 |
| Eastern Gas Transmission & Storage, Inc.,<br> Sr. Unsec'd. Notes | 4.600 | &nbsp;&nbsp;12/15/44 | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105027 |
| Energy Transfer LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series G | 7.125(ff) | &nbsp;&nbsp;05/15/30(oo) | 3360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3437401 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.150 | &nbsp;&nbsp;03/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes(a) | 5.200 | &nbsp;&nbsp;04/01/30 | 2690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2742370 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.300 | &nbsp;&nbsp;04/15/47 | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.400 | &nbsp;&nbsp;10/01/47 | &nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53387 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.250 | &nbsp;&nbsp;04/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73996 |
| Kinder Morgan, Inc.,<br> Sr. Unsec'd. Notes | 5.100 | &nbsp;&nbsp;08/01/29 | 6310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6425916 |
| MPLX LP,<br> Sr. Unsec'd. Notes | 5.200 | &nbsp;&nbsp;03/01/47 | &nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125857 |
| NGPL PipeCo LLC,<br> Sr. Unsec'd. Notes, 144A | 4.875 | &nbsp;&nbsp;08/15/27 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497191 |
| ONEOK, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.200 | &nbsp;&nbsp;12/01/42 | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96210 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.950 | &nbsp;&nbsp;07/13/47 | &nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213075 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.650 | &nbsp;&nbsp;11/01/28 | 2908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.800 | &nbsp;&nbsp;11/01/30 | &nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375586 |
| Rockies Express Pipeline LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;03/15/33 | &nbsp;&nbsp;&nbsp;905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938516 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.875 | &nbsp;&nbsp;04/15/40 | 1850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1866247 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.,<br> Gtd. Notes, 144A | 5.500 | &nbsp;&nbsp;01/15/28 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991933 |
| Targa Resources Corp.,<br> Gtd. Notes | 6.150 | &nbsp;&nbsp;03/01/29 | &nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330860 |
| Venture Global Calcasieu Pass LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 3.875 | &nbsp;&nbsp;08/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70751 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.125 | &nbsp;&nbsp;08/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69259 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 6.250 | &nbsp;&nbsp;01/15/30 | 1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1361167 |
| Venture Global LNG, Inc.,<br> Jr. Sub. Notes, 144A(a) | 9.000(ff) | &nbsp;&nbsp;09/30/29(oo) | 5290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5289259 |
| Venture Global Plaquemines LNG LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 6.500 | &nbsp;&nbsp;01/15/34 | &nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462860 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;01/15/36 | &nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462864 |
| Western Midstream Operating LP,<br> Sr. Unsec'd. Notes | 4.500 | &nbsp;&nbsp;03/01/28 | 4990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4952743 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35959725 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Real Estate 0.0%** | **Real Estate 0.0%** | **Real Estate 0.0%** | **Real Estate 0.0%** | **Real Estate 0.0%** | **Real Estate 0.0%** |
| Howard Hughes Corp. (The),<br> Gtd. Notes, 144A | &nbsp;&nbsp;5.375% | &nbsp;&nbsp;08/01/28 |  | &nbsp;&nbsp;1375 | &nbsp;&nbsp; $1366873 |
| **Real Estate Investment Trusts (REITs) 0.4%** | **Real Estate Investment Trusts (REITs) 0.4%** | **Real Estate Investment Trusts (REITs) 0.4%** | **Real Estate Investment Trusts (REITs) 0.4%** | **Real Estate Investment Trusts (REITs) 0.4%** | **Real Estate Investment Trusts (REITs) 0.4%** |
| Brixmor Operating Partnership LP,<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;4.125 | &nbsp;&nbsp;05/15/29 |  | &nbsp;&nbsp;1441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416093 |
| COPT Defense Properties LP,<br> Gtd. Notes(a) | &nbsp;&nbsp;2.000 | &nbsp;&nbsp;01/15/29 |  | &nbsp;&nbsp;2170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1982249 |
| Diversified Healthcare Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;4.375 | &nbsp;&nbsp;03/01/31 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;4.750 | &nbsp;&nbsp;02/15/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23171 |
| GLP Capital LP/GLP Financing II, Inc.,<br> Gtd. Notes | &nbsp;&nbsp;5.300 | &nbsp;&nbsp;01/15/29 |  | &nbsp;&nbsp;2770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2797084 |
| MPT Operating Partnership LP/MPT Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;3.500 | &nbsp;&nbsp;03/15/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;10/15/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183473 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;8.500 | &nbsp;&nbsp;02/15/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130031 |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer,<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;4.875 | &nbsp;&nbsp;05/15/29 |  | &nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323176 |
| RHP Hotel Properties LP/RHP Finance Corp.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;04/01/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945011 |
| SBA Communications Corp.,<br> Sr. Unsec'd. Notes(a) | &nbsp;&nbsp;3.125 | &nbsp;&nbsp;02/01/29 |  | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398046 |
| Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC,<br> Sr. Sec'd. Notes, 144A | 10.500 | &nbsp;&nbsp;02/15/28 |  | &nbsp;&nbsp;2980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3148352 |
| VICI Properties LP/VICI Note Co., Inc.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;02/01/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003719 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15356316 |
| **Retail 1.4%** | **Retail 1.4%** | **Retail 1.4%** | **Retail 1.4%** | **Retail 1.4%** | **Retail 1.4%** |
| 1011778 BC ULC/New Red Finance, Inc. (Canada), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;5.625 | &nbsp;&nbsp;09/15/29 |  | &nbsp;&nbsp;1335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344118 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;6.125 | &nbsp;&nbsp;06/15/29 |  | &nbsp;&nbsp;1110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1129481 |
| AutoNation, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;3.800 | &nbsp;&nbsp;11/15/27 |  | &nbsp;&nbsp;4122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4046027 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;1.950 | &nbsp;&nbsp;08/01/28 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3710124 |
| Boots Group Finco LP, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;5.375 | &nbsp;&nbsp;08/31/32 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582702 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;7.375 | &nbsp;&nbsp;08/31/32 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242876 |
| Carvana Co., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, Cash coupon 9.000% or PIK 12.000% | &nbsp;&nbsp;9.000 | &nbsp;&nbsp;12/01/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, Cash coupon 11.000% or PIK 13.000% | &nbsp;&nbsp;9.000 | &nbsp;&nbsp;06/01/30 |  | &nbsp;&nbsp;3750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3922840 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, PIK 14.000% | &nbsp;&nbsp;9.000 | &nbsp;&nbsp;06/01/31 |  | &nbsp;&nbsp;1450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724254 |
| CD&R Firefly Bidco PLC (United Kingdom),<br> Sr. Sec'd. Notes | &nbsp;&nbsp;8.625 | &nbsp;&nbsp;04/30/29 | &nbsp;&nbsp;GBP | 10700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14554884 |
| eG Global Finance PLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 11.000 | &nbsp;&nbsp;11/30/28 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4793590 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 12.000 | &nbsp;&nbsp;11/30/28 |  | &nbsp;&nbsp;2175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400656 |
| Falabella SA (Chile),<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;3.375 | &nbsp;&nbsp;01/15/32 |  | &nbsp;&nbsp;1805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573960 |
| Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;6.750 | &nbsp;&nbsp;01/15/30 |  | &nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011427 |
| Lithia Motors, Inc.,<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;3.875 | &nbsp;&nbsp;06/01/29 |  | &nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275889 |
| Park River Holdings, Inc.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;5.625 | &nbsp;&nbsp;02/01/29 |  | &nbsp;&nbsp;3050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2634922 |

---

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Retail (cont'd.)** | **Retail (cont'd.)** | **Retail (cont'd.)** | **Retail (cont'd.)** | **Retail (cont'd.)** | **Retail (cont'd.)** |
| Sally Holdings LLC/Sally Capital, Inc.,<br> Gtd. Notes(a) | &nbsp;&nbsp;6.750% | &nbsp;&nbsp;03/01/32 |  | &nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp; $400476 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp.,<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;5.875 | &nbsp;&nbsp;03/01/27 |  | 2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2540762 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49527238 |
| **Software 0.0%** | **Software 0.0%** | **Software 0.0%** | **Software 0.0%** | **Software 0.0%** | **Software 0.0%** |
| CoreWeave, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;9.000 | &nbsp;&nbsp;02/01/31 |  | &nbsp;&nbsp;&nbsp;895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893427 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | &nbsp;&nbsp;9.250 | &nbsp;&nbsp;06/01/30 |  | &nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598024 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491451 |
| **Telecommunications 1.1%** | **Telecommunications 1.1%** | **Telecommunications 1.1%** | **Telecommunications 1.1%** | **Telecommunications 1.1%** | **Telecommunications 1.1%** |
| CT Trust (Guatemala),<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;5.125 | &nbsp;&nbsp;02/03/32 |  | &nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711550 |
| Digicel Group Holdings Ltd. (Jamaica), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, Series 1B14, 144A | &nbsp;&nbsp;0.000 | &nbsp;&nbsp;12/31/30 |  | &nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, Series 3B14, 144A^ | &nbsp;&nbsp;0.000 | &nbsp;&nbsp;12/31/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Digicel Intermediate Holdings Ltd./Digicel International Finance Ltd./DIFL US LLC (Jamaica),<br> Sr. Sec'd. Notes, Cash coupon 9.000% and PIK 2.250% | 11.250 | &nbsp;&nbsp;05/25/27 |  | 1188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1189009 |
| Digicel International Finance Ltd./Difl US LLC (Jamaica),<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;8.625 | &nbsp;&nbsp;08/01/32 |  | 3240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3263652 |
| Digicel Midco Ltd./DIFL US II LLC (Jamaica),<br> Sr. Unsec'd. Notes, PIK 10.500% | 10.500 | &nbsp;&nbsp;11/25/28 |  | &nbsp;&nbsp;&nbsp;872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883265 |
| EchoStar Corp.,<br> Sr. Sec'd. Notes | 10.750 | &nbsp;&nbsp;11/30/29(d) |  | 4750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5005241 |
| Frontier Communications Holdings LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | &nbsp;&nbsp;6.750 | &nbsp;&nbsp;05/01/29 |  | 1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1388482 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;05/01/28 |  | 1650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;8.750 | &nbsp;&nbsp;05/15/30 |  | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096995 |
| Level 3 Financing, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | &nbsp;&nbsp;4.500 | &nbsp;&nbsp;04/01/30 |  | 2625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2361942 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | &nbsp;&nbsp;4.875 | &nbsp;&nbsp;06/15/29 |  | 2975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;6.875 | &nbsp;&nbsp;06/30/33 |  | 1220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1237743 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A(a) | 10.750 | &nbsp;&nbsp;12/15/30 |  | &nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846547 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 11.000 | &nbsp;&nbsp;11/15/29 |  | 3776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4288987 |
| Lorca Telecom Bondco SA (Spain),<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;04/30/29 | &nbsp;&nbsp;EUR | 2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2798881 |
| Millicom International Cellular SA (Guatemala),<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;4.500 | &nbsp;&nbsp;04/27/31 |  | &nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471740 |
| SoftBank Group Corp. (Japan),<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;07/08/32 | &nbsp;&nbsp;EUR | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1391057 |
| Sprint LLC,<br> Gtd. Notes | &nbsp;&nbsp;7.625 | &nbsp;&nbsp;03/01/26 |  | &nbsp;&nbsp;&nbsp;315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317158 |
| TalkTalk Telecom Group Ltd. (United Kingdom),<br> Sec'd. Notes, 144A, Cash coupon 11.750% or PIK N/A | 11.750 | &nbsp;&nbsp;03/01/28 | &nbsp;&nbsp;GBP | 3206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423438 |
| Total Play Telecomunicaciones SA de CV (Mexico), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | 11.125 | &nbsp;&nbsp;12/31/32 |  | 1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095051 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 11.125 | &nbsp;&nbsp;12/31/32 |  | &nbsp;&nbsp;&nbsp;696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668558 |
| Vmed O2 UK Financing I PLC (United Kingdom),<br> Sr. Sec'd. Notes | &nbsp;&nbsp;4.000 | &nbsp;&nbsp;01/31/29 | &nbsp;&nbsp;GBP | 2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776980 |
| Windstream Services LLC/Windstream Escrow Finance Corp.,<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;8.250 | &nbsp;&nbsp;10/01/31 |  | &nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361460 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38023785 |
| **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** | **Transportation 0.2%** |
| Indian Railway Finance Corp. Ltd. (India),<br> Sr. Unsec'd. Notes, 144A, MTN(a) | &nbsp;&nbsp;3.570 | &nbsp;&nbsp;01/21/32 |  | &nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332906 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Transportation (cont'd.)** | **Transportation (cont'd.)** | **Transportation (cont'd.)** | **Transportation (cont'd.)** | **Transportation (cont'd.)** | **Transportation (cont'd.)** |
| RXO, Inc.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;7.500% | &nbsp;&nbsp;11/15/27 |  | &nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp; $995111 |
| Star Leasing Co. LLC,<br> Sec'd. Notes, 144A | &nbsp;&nbsp;7.625 | &nbsp;&nbsp;02/15/30 |  | 3415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3370282 |
| XPO, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;7.125 | &nbsp;&nbsp;06/01/31 |  | &nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232907 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | &nbsp;&nbsp;7.125 | &nbsp;&nbsp;02/01/32 |  | &nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400812 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5332018 |
| **Trucking & Leasing 0.2%** | **Trucking & Leasing 0.2%** | **Trucking & Leasing 0.2%** | **Trucking & Leasing 0.2%** | **Trucking & Leasing 0.2%** | **Trucking & Leasing 0.2%** |
| Penske Truck Leasing Co. LP/PTL Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.250 | &nbsp;&nbsp;07/01/29 |  | 2110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2151962 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A(a) | &nbsp;&nbsp;5.350 | &nbsp;&nbsp;03/30/29 |  | 3440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3517121 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5669083 |
| **Total Corporate Bonds<br> (cost $701,177,599)** | **Total Corporate Bonds<br> (cost $701,177,599)** | **Total Corporate Bonds<br> (cost $701,177,599)** | **Total Corporate Bonds<br> (cost $701,177,599)** | **Total Corporate Bonds<br> (cost $701,177,599)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709535644 |
| **Floating Rate and Other Loans 1.3%** | **Floating Rate and Other Loans 1.3%** | **Floating Rate and Other Loans 1.3%** | **Floating Rate and Other Loans 1.3%** | **Floating Rate and Other Loans 1.3%** | **Floating Rate and Other Loans 1.3%** |
| **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** | **Auto Parts & Equipment 0.2%** |
| Clarios Global LP,<br> Amendment No. 6 Dollar Term Loan, 1 Month SOFR + 2.750% | &nbsp;&nbsp;7.106(c) | &nbsp;&nbsp;01/28/32 |  | &nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675282 |
| Tenneco, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Term A Loan, 3 Month SOFR + 4.850% | &nbsp;&nbsp;9.172(c) | &nbsp;&nbsp;11/17/28 |  | &nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531615 |
| &nbsp;&nbsp;&nbsp;&nbsp;Term B Loan, 3 Month SOFR + 5.100% | &nbsp;&nbsp;9.409(c) | &nbsp;&nbsp;11/17/28 |  | 3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3847767 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5054664 |
| **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** | **Commercial Services 0.1%** |
| OCS Group Investments Ltd. (United Kingdom),<br> Facility B1 Loan, SONIA + 5.750% | &nbsp;&nbsp;9.980(c) | &nbsp;&nbsp;11/27/31 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1283610 |
| **Diversified Financial Services 0.0%** | **Diversified Financial Services 0.0%** | **Diversified Financial Services 0.0%** | **Diversified Financial Services 0.0%** | **Diversified Financial Services 0.0%** | **Diversified Financial Services 0.0%** |
| Hudson River Trading LLC,<br> Term B-1 Loan, 1 Month SOFR + 3.000% | &nbsp;&nbsp;7.343(c) | &nbsp;&nbsp;03/18/30 |  | 1153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156107 |
| **Holding Companies-Diversified 0.0%** | **Holding Companies-Diversified 0.0%** | **Holding Companies-Diversified 0.0%** | **Holding Companies-Diversified 0.0%** | **Holding Companies-Diversified 0.0%** | **Holding Companies-Diversified 0.0%** |
| Cuppa Bidco BV (Netherlands),<br> Facility B1 (EUR), 6 Month EURIBOR + 4.750% | &nbsp;&nbsp;6.787(c) | &nbsp;&nbsp;06/29/29 | &nbsp;&nbsp;EUR | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954717 |
| **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;196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170160 |
| **Leisure Time 0.1%** | **Leisure Time 0.1%** | **Leisure Time 0.1%** | **Leisure Time 0.1%** | **Leisure Time 0.1%** | **Leisure Time 0.1%** |
| ClubCorp Holdings, Inc.,<br> Term Loan, 2 Month SOFR + 5.000%^ | &nbsp;&nbsp;9.328(c) | &nbsp;&nbsp;07/10/32 |  | 1097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1088265 |
| International Park Holdings BV (Netherlands),<br> 2025 Facility B, 6 Month EURIBOR + 5.500%^ | &nbsp;&nbsp;7.537(c) | &nbsp;&nbsp;01/30/32 | &nbsp;&nbsp;EUR | 2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3054159 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4142424 |
| **Media 0.0%** | **Media 0.0%** | **Media 0.0%** | **Media 0.0%** | **Media 0.0%** | **Media 0.0%** |
| CSC Holdings LLC,<br> 2022 Refinancing Term Loan, 1 Month SOFR + 4.500% | &nbsp;&nbsp;8.842(c) | &nbsp;&nbsp;01/18/28 |  | &nbsp;&nbsp;&nbsp;987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984565 |

---

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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 (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** |
| **Metal Fabricate/Hardware 0.1%** | **Metal Fabricate/Hardware 0.1%** | **Metal Fabricate/Hardware 0.1%** | **Metal Fabricate/Hardware 0.1%** | **Metal Fabricate/Hardware 0.1%** | **Metal Fabricate/Hardware 0.1%** |
| Doncasters US Finance LLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 Term Loan, 3 Month SOFR + 6.500%^ | 10.796 %(c) | &nbsp;&nbsp;04/23/30 |  | &nbsp;&nbsp;&nbsp;798 | &nbsp;&nbsp; $805980 |
| &nbsp;&nbsp;&nbsp;&nbsp;Initial Term Loan, 3 Month SOFR + 6.500% | 10.796(c) | &nbsp;&nbsp;04/23/30 |  | 3520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3555642 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4361622 |
| **Retail 0.5%** | **Retail 0.5%** | **Retail 0.5%** | **Retail 0.5%** | **Retail 0.5%** | **Retail 0.5%** |
| CDR Firefly Bidco PLC (United Kingdom),<br> Facility B10, SONIA + 4.750% | &nbsp;&nbsp;8.967(c) | &nbsp;&nbsp;04/29/29 | &nbsp;&nbsp;GBP | 6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9196731 |
| Peer Holding III BV (Netherlands),<br> Term B-6 Loan, 3 Month EURIBOR + 2.750% | &nbsp;&nbsp;4.730(c) | &nbsp;&nbsp;07/01/31 | &nbsp;&nbsp;EUR | 4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4797833 |
| The Boots Group (United Kingdom),<br> Term Loan (GBP) | &nbsp;&nbsp;&nbsp;&nbsp;—(p) | &nbsp;&nbsp;07/18/32 | &nbsp;&nbsp;GBP | 1575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088939 |
| WSH Services Holding Ltd. (United Kingdom),<br> Term B Loan, SONIA + 4.500% | &nbsp;&nbsp;8.717(c) | &nbsp;&nbsp;05/16/31 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363254 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16446757 |
| **Telecommunications 0.3%** | **Telecommunications 0.3%** | **Telecommunications 0.3%** | **Telecommunications 0.3%** | **Telecommunications 0.3%** | **Telecommunications 0.3%** |
| Digicel International Finance Ltd. (Jamaica),<br> Initial Term Loan, 3 Month SOFR + 7.500% | 11.808(c) | &nbsp;&nbsp;05/25/27 |  | &nbsp;&nbsp;&nbsp;197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196355 |
| Level 3 Financing, Inc.,<br> Term B-3 Loan, 1 Month SOFR + 4.250% | &nbsp;&nbsp;8.606(c) | &nbsp;&nbsp;03/27/32 |  | &nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978900 |
| Lumen Technologies, Inc.,<br> Term B-1 Loan, 1 Month SOFR + 2.464% | &nbsp;&nbsp;6.821(c) | &nbsp;&nbsp;04/15/29 |  | 1795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1784203 |
| Zegona Holdco Ltd. (United Kingdom),<br> Facility B (EUR) Loan, 6 Month EURIBOR + 3.000% | &nbsp;&nbsp;5.079(c) | &nbsp;&nbsp;07/17/29 | &nbsp;&nbsp;EUR | 6100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6958835 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9918293 |
| **Total Floating Rate and Other Loans<br> (cost $42,999,856)** | **Total Floating Rate and Other Loans<br> (cost $42,999,856)** | **Total Floating Rate and Other Loans<br> (cost $42,999,856)** | **Total Floating Rate and Other Loans<br> (cost $42,999,856)** | **Total Floating Rate and Other Loans<br> (cost $42,999,856)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44472919 |
| **Municipal Bonds 0.2%** | **Municipal Bonds 0.2%** | **Municipal Bonds 0.2%** | **Municipal Bonds 0.2%** | **Municipal Bonds 0.2%** | **Municipal Bonds 0.2%** |
| **California 0.1%** | **California 0.1%** | **California 0.1%** | **California 0.1%** | **California 0.1%** | **California 0.1%** |
| Bay Area Toll Authority,<br> Revenue Bonds, BABs, Series F2 | &nbsp;&nbsp;6.263 | &nbsp;&nbsp;04/01/49 |  | &nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574036 |
| University of California, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable, Revenue Bonds, Series AP | &nbsp;&nbsp;3.931 | &nbsp;&nbsp;05/15/45 |  | &nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560055 |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable, Revenue Bonds, Series J | &nbsp;&nbsp;4.131 | &nbsp;&nbsp;05/15/45 |  | &nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591738 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725829 |
| **Colorado 0.0%** | **Colorado 0.0%** | **Colorado 0.0%** | **Colorado 0.0%** | **Colorado 0.0%** | **Colorado 0.0%** |
| Regional Transportation District Sales Tax Revenue,<br> Revenue Bonds, BABs, Series B | &nbsp;&nbsp;5.844 | &nbsp;&nbsp;11/01/50 |  | 1190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1201650 |
| **Illinois 0.0%** | **Illinois 0.0%** | **Illinois 0.0%** | **Illinois 0.0%** | **Illinois 0.0%** | **Illinois 0.0%** |
| State of Illinois,<br> General Obligation Unlimited, Taxable | &nbsp;&nbsp;5.100 | &nbsp;&nbsp;06/01/33 |  | &nbsp;&nbsp;&nbsp;755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757617 |
| **New Jersey 0.1%** | **New Jersey 0.1%** | **New Jersey 0.1%** | **New Jersey 0.1%** | **New Jersey 0.1%** | **New Jersey 0.1%** |
| New Jersey Turnpike Authority,<br> Taxable, Revenue Bonds, BABs, Series F | &nbsp;&nbsp;7.414 | &nbsp;&nbsp;01/01/40 |  | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2367408 |
| Rutgers The State University of New Jersey,<br> Taxable, Revenue Bonds, BABs, Series H | &nbsp;&nbsp;5.665 | &nbsp;&nbsp;05/01/40 |  | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201538 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2568946 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** | **Municipal Bonds (Continued)** |
| **Ohio 0.0%** | **Ohio 0.0%** | **Ohio 0.0%** | **Ohio 0.0%** | **Ohio 0.0%** |
| Ohio State University (The),<br> Taxable, Revenue Bonds, Series A | &nbsp;&nbsp;4.800% | &nbsp;&nbsp;06/01/2111 | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp; $148385 |
| **Texas 0.0%** | **Texas 0.0%** | **Texas 0.0%** | **Texas 0.0%** | **Texas 0.0%** |
| City of San Antonio Electric & Gas Systems Revenue,<br> Taxable, Revenue Bonds | &nbsp;&nbsp;4.427 | &nbsp;&nbsp;02/01/42 | &nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111991 |
| **Total Municipal Bonds<br> (cost $7,556,386)** | **Total Municipal Bonds<br> (cost $7,556,386)** | **Total Municipal Bonds<br> (cost $7,556,386)** | **Total Municipal Bonds<br> (cost $7,556,386)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6514418 |
| **Residential Mortgage-Backed Securities 5.2%** | **Residential Mortgage-Backed Securities 5.2%** | **Residential Mortgage-Backed Securities 5.2%** | **Residential Mortgage-Backed Securities 5.2%** | **Residential Mortgage-Backed Securities 5.2%** |
| Bayview Financing Trust,<br> Series 2023-01F, Class A, 144A, 30 Day Average SOFR + 4.000% (Cap N/A, Floor 4.000%)^ | &nbsp;&nbsp;8.346(c) | &nbsp;&nbsp;07/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947151 |
| Bellemeade Re Ltd.,<br> Series 2024-01, Class M1B, 144A, 30 Day Average SOFR + 3.200% (Cap N/A, Floor 3.150%) | &nbsp;&nbsp;7.550(c) | &nbsp;&nbsp;08/25/34 | &nbsp;&nbsp;4612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4660813 |
| Chase Mortgage Finance Trust,<br> Series 2007-A01, Class 1A3 | &nbsp;&nbsp;6.509(cc) | &nbsp;&nbsp;02/25/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17004 |
| Citigroup Mortgage Loan Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class A1, 144A | &nbsp;&nbsp;4.100(cc) | &nbsp;&nbsp;02/25/63 | &nbsp;&nbsp;6973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6612923 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class A2, 144A | &nbsp;&nbsp;4.226(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;507242 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class B1, 144A | &nbsp;&nbsp;0.000(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;134540 |
| &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;45088 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class B3, PO, 144A | 11.412(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;19451 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class B4, PO, 144A | 14.852(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;23441 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class M1, 144A | &nbsp;&nbsp;3.199(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;328695 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class M2, 144A | &nbsp;&nbsp;0.000(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;239038 |
| &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;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8656 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-RP02, Class X, IO, 144A | &nbsp;&nbsp;0.000(cc) | &nbsp;&nbsp;02/25/63 | &nbsp;&nbsp;8977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class A1, 144A | &nbsp;&nbsp;4.045(cc) | &nbsp;&nbsp;01/25/64 | &nbsp;&nbsp;9825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9248843 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class A2, 144A | &nbsp;&nbsp;4.031(cc) | &nbsp;&nbsp;01/25/64 | &nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334392 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class B1, 144A | &nbsp;&nbsp;4.031(cc) | &nbsp;&nbsp;01/25/64 | &nbsp;&nbsp;&nbsp;&nbsp;177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105350 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class B2, 144A | &nbsp;&nbsp;4.031(cc) | &nbsp;&nbsp;01/25/64 | &nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61683 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class B3, 144A | &nbsp;&nbsp;4.031(cc) | &nbsp;&nbsp;01/25/64 | &nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60861 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class B4, 144A | &nbsp;&nbsp;4.031(cc) | &nbsp;&nbsp;01/25/64 | &nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53029 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class M1, 144A | &nbsp;&nbsp;4.031(cc) | &nbsp;&nbsp;01/25/64 | &nbsp;&nbsp;&nbsp;&nbsp;377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269653 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class M2, 144A | &nbsp;&nbsp;4.031(cc) | &nbsp;&nbsp;01/25/64 | &nbsp;&nbsp;&nbsp;&nbsp;236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155055 |
| &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;21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18231 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RP01, Class X, IO, 144A | &nbsp;&nbsp;0.000(cc) | &nbsp;&nbsp;01/25/64 | 11444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144 |
| Connecticut Avenue Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-R01, Class 1B1, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.450(c) | &nbsp;&nbsp;10/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613260 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R01, Class 1B1, 144A, 30 Day Average SOFR + 3.150% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.500(c) | &nbsp;&nbsp;12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326139 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R02, Class 2M2, 144A, 30 Day Average SOFR + 3.000% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.350(c) | &nbsp;&nbsp;01/25/42 | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1946094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1B1, 144A, 30 Day Average SOFR + 6.250% (Cap N/A, Floor 0.000%) | 10.600(c) | &nbsp;&nbsp;03/25/42 | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1078649 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1B1, 144A, 30 Day Average SOFR + 5.250% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;9.600(c) | &nbsp;&nbsp;03/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1M2, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.450(c) | &nbsp;&nbsp;03/25/42 | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-R05, Class 1M2, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.450(c) | &nbsp;&nbsp;06/25/43 | &nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1463000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-R05, Class 2M2, 144A, 30 Day Average SOFR + 1.700% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;6.050(c) | &nbsp;&nbsp;07/25/44 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250995 |
| Eagle Re Ltd.,<br> Series 2021-02, Class M1C, 144A, 30 Day Average SOFR + 3.450% (Cap N/A, Floor 3.450%) | &nbsp;&nbsp;7.800(c) | &nbsp;&nbsp;04/25/34 | &nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506245 |
| Fannie Mae REMIC,<br> Series 2025-53, Class FA, 30 Day Average SOFR + 1.930% (Cap 6.000%, Floor 1.930%) | &nbsp;&nbsp;6.000(c) | &nbsp;&nbsp;07/25/55 | 10479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10485573 |
| FHLMC Structured Agency Credit Risk REMIC Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-DNA06, Class M2, 144A, 30 Day Average SOFR + 1.500% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;5.850(c) | &nbsp;&nbsp;10/25/41 | &nbsp;&nbsp;1364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1370462 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-DNA07, Class M2, 144A, 30 Day Average SOFR + 1.800% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;6.150(c) | &nbsp;&nbsp;11/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100719 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-HQA03, Class M2, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;6.450(c) | &nbsp;&nbsp;09/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100875 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-HQA04, Class M2, 144A, 30 Day Average SOFR + 2.350% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;6.700(c) | &nbsp;&nbsp;12/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101460 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-DNA01, Class M2, 144A, 30 Day Average SOFR + 2.500% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;6.850(c) | &nbsp;&nbsp;01/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71284 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-DNA03, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.250(c) | &nbsp;&nbsp;04/25/42 | &nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2081004 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-DNA04, Class M1B, 144A, 30 Day Average SOFR + 3.350% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.700(c) | &nbsp;&nbsp;05/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-HQA03, Class M2, 144A, 30 Day Average SOFR + 5.350% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;9.700(c) | &nbsp;&nbsp;08/25/42 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645411 |

---

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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)** |
| Freddie Mac REMIC,<br> Series 5560, Class FA, 30 Day Average SOFR + 1.930% (Cap 6.000%, Floor 1.930%) | 6.000 %(c) | &nbsp;&nbsp;06/25/55 |  | &nbsp;&nbsp;7058 | &nbsp;&nbsp; $7062692 |
| JPMorgan Mortgage Trust,<br> Series 2007-A01, Class 4A1 | 6.197(cc) | &nbsp;&nbsp;07/25/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6651 |
| Legacy Mortgage Asset Trust,<br> Series 2025-PR01, Class A1, 144A | 6.000 | &nbsp;&nbsp;01/25/61 |  | &nbsp;&nbsp;9462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9386137 |
| LHOME Mortgage Trust,<br> Series 2024-RTL05, Class A1, 144A | 5.323 | &nbsp;&nbsp;09/25/39 |  | &nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6475305 |
| Lugo Funding DAC (Spain),<br> Series 2024-01A, Class C, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 0.000%) | 4.049(c) | &nbsp;&nbsp;05/26/66 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3441650 |
| New Residential Mortgage Loan Trust,<br> Series 2018-04A, Class A1S, 144A, 1 Month SOFR + 0.864% (Cap N/A, Floor 0.750%) | 5.217(c) | &nbsp;&nbsp;01/25/48 |  | &nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747572 |
| NLT Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class A1, 144A | 5.506 | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;6988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6987687 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class A2, 144A | 5.708 | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class A3, 144A | 5.860 | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;1345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344520 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class AIOS, 144A | 0.399(cc) | &nbsp;&nbsp;02/25/70 |  | 10618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86416 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class B1, 144A | 6.603(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396117 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class B2, 144A | 6.603(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class B3, 144A | 6.603(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180978 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class M1, 144A | 6.314(cc) | &nbsp;&nbsp;02/25/70 |  | &nbsp;&nbsp;&nbsp;&nbsp;578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-INV01, Class XS, 144A^ | 0.901(cc) | &nbsp;&nbsp;02/25/70 |  | 10618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355692 |
| Oaktown Re VII Ltd.,<br> Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 2.900%) | 7.250(c) | &nbsp;&nbsp;04/25/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717008 |
| 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%) | 7.850(c) | &nbsp;&nbsp;05/25/33 |  | 29981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30333806 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-02R, Class A, 144A, 30 Day Average SOFR + 3.350% (Cap N/A, Floor 0.000%) | 7.700(c) | &nbsp;&nbsp;03/29/27 |  | &nbsp;&nbsp;8005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8085570 |
| PRET LLC,<br> Series 2025-NPL05, Class A1, 144A | 6.244 | &nbsp;&nbsp;05/25/55 |  | 10570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10578718 |
| PRET Trust,<br> Series 2025-NPL01, Class A1, 144A | 6.063 | &nbsp;&nbsp;02/25/55 |  | &nbsp;&nbsp;5329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5333467 |
| PRPM LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-04, Class A1, 144A | 6.414 | &nbsp;&nbsp;08/25/29 |  | &nbsp;&nbsp;8029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8045113 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05, Class A1, 144A | 5.689 | &nbsp;&nbsp;09/25/29 |  | &nbsp;&nbsp;4454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4446921 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02, Class A1, 144A | 6.469 | &nbsp;&nbsp;05/25/30 |  | &nbsp;&nbsp;3341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-04, Class A1, 144A | 6.179 | &nbsp;&nbsp;06/25/30 |  | 11355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11370476 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class A1, 144A | 4.000 | &nbsp;&nbsp;03/25/55 |  | &nbsp;&nbsp;3614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3511640 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class A2, 144A | 4.000 | &nbsp;&nbsp;03/25/55 |  | &nbsp;&nbsp;&nbsp;&nbsp;683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639606 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class A3, 144A | 4.000 | &nbsp;&nbsp;03/25/55 |  | &nbsp;&nbsp;&nbsp;&nbsp;403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370629 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class M1A, 144A | 4.000 | &nbsp;&nbsp;03/25/55 |  | &nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355556 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-RPL01, Class M1B, 144A | 4.000 | &nbsp;&nbsp;03/25/55 |  | &nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123316 |
| Radnor Re Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 3.700% (Cap N/A, Floor 3.700%) | 8.050(c) | &nbsp;&nbsp;11/25/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480990 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-01, Class M1A, 144A, 30 Day Average SOFR + 2.700% (Cap N/A, Floor 2.700%) | 7.050(c) | &nbsp;&nbsp;07/25/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375863 |
| RCO Mortgage LLC,<br> Series 2025-03, Class A1, 144A | 6.435 | &nbsp;&nbsp;05/25/30 |  | &nbsp;&nbsp;6517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6521430 |
| Structured Asset Securities Corp. Mortgage Pass-Through Certificates,<br> Series 2003-37A, Class 3A7 | 6.063(cc) | &nbsp;&nbsp;12/25/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156565 |
| VCAT LLC,<br> Series 2025-NPL03, Class A1, 144A | 5.889 | &nbsp;&nbsp;02/25/55 |  | &nbsp;&nbsp;2873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2873193 |
| **Total Residential Mortgage-Backed Securities<br> (cost $180,886,041)** | **Total Residential Mortgage-Backed Securities<br> (cost $180,886,041)** | **Total Residential Mortgage-Backed Securities<br> (cost $180,886,041)** | **Total Residential Mortgage-Backed Securities<br> (cost $180,886,041)** | **Total Residential Mortgage-Backed Securities<br> (cost $180,886,041)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182343215 |
| **Sovereign Bonds 4.6%** | **Sovereign Bonds 4.6%** | **Sovereign Bonds 4.6%** | **Sovereign Bonds 4.6%** | **Sovereign Bonds 4.6%** | **Sovereign Bonds 4.6%** |
| Angolan Government International Bond (Angola),<br> Sr. Unsec'd. Notes | 9.500 | &nbsp;&nbsp;11/12/25 |  | &nbsp;&nbsp;5320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5349952 |
| Bermuda Government International Bond (Bermuda),<br> Sr. Unsec'd. Notes, 144A | 2.375 | &nbsp;&nbsp;08/20/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610506 |
| Brazil Minas SPE via State of Minas Gerais (Brazil),<br> Gov't. Gtd. Notes | 5.333 | &nbsp;&nbsp;02/15/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978680 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

#### Schedule of Investments as of July 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** |
| **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** |
| Brazilian Government International Bond (Brazil),<br> Sr. Unsec'd. Notes | 5.500% | &nbsp;&nbsp;11/06/30 |  | &nbsp;&nbsp;6770 | &nbsp;&nbsp; $6781847 |
| Colombia Government International Bond (Colombia),<br> Sr. Unsec'd. Notes | 7.500 | &nbsp;&nbsp;02/02/34 |  | &nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395625 |
| Dominican Republic International Bond (Dominican Republic), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.500 | &nbsp;&nbsp;02/22/29 |  | &nbsp;&nbsp;1637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1634545 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;02/22/29 |  | &nbsp;&nbsp;1915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912128 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.950 | &nbsp;&nbsp;01/25/27 |  | &nbsp;&nbsp;1570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1583345 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.600 | &nbsp;&nbsp;06/01/36 |  | &nbsp;&nbsp;3340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3391770 |
| Egypt Government International Bond (Egypt),<br> Sr. Unsec'd. Notes, EMTN | 3.875 | &nbsp;&nbsp;02/16/26 |  | &nbsp;&nbsp;8700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8552100 |
| Hungary Government International Bond (Hungary),<br> Sr. Unsec'd. Notes, 144A(a) | 6.750 | &nbsp;&nbsp;09/23/55 |  | &nbsp;&nbsp;9670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9792712 |
| Ivory Coast Government International Bond (Ivory Coast), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.875 | &nbsp;&nbsp;01/30/32 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2953132 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.250 | &nbsp;&nbsp;03/22/30 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4667947 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.875 | &nbsp;&nbsp;10/17/31 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6567109 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.625 | &nbsp;&nbsp;01/30/33 |  | &nbsp;&nbsp;3025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3028025 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 8.075 | &nbsp;&nbsp;04/01/36 |  | &nbsp;&nbsp;9630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9475920 |
| Morocco Government International Bond (Morocco),<br> Sr. Unsec'd. Notes | 2.375 | &nbsp;&nbsp;12/15/27 |  | 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28327500 |
| Republic of South Africa Government International Bond (South Africa),<br> Sr. Unsec'd. Notes, Series 12Y | 3.750 | &nbsp;&nbsp;07/24/26 | &nbsp;&nbsp;EUR | 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22945766 |
| Romanian Government International Bond (Romania), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds, 144A | 6.625 | &nbsp;&nbsp;05/16/36 |  | 11310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11310000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.750 | &nbsp;&nbsp;09/16/30 |  | &nbsp;&nbsp;5790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5816055 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, EMTN | 6.625 | &nbsp;&nbsp;09/27/29 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5588011 |
| Serbia International Bond (Serbia), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 1.500 | &nbsp;&nbsp;06/26/29 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870686 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 1.650 | &nbsp;&nbsp;03/03/33 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719601 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.125 | &nbsp;&nbsp;05/15/27 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.250 | &nbsp;&nbsp;05/26/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967745 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 1.500 | &nbsp;&nbsp;06/26/29 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4545199 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 1.650 | &nbsp;&nbsp;03/03/33 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131958 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 3.125 | &nbsp;&nbsp;05/15/27 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3228455 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.000 | &nbsp;&nbsp;06/12/34 |  | &nbsp;&nbsp;1942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1976587 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.500 | &nbsp;&nbsp;09/26/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968205 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, EMTN | 1.000 | &nbsp;&nbsp;09/23/28 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3056717 |
| **Total Sovereign Bonds<br> (cost $156,423,492)** | **Total Sovereign Bonds<br> (cost $156,423,492)** | **Total Sovereign Bonds<br> (cost $156,423,492)** | **Total Sovereign Bonds<br> (cost $156,423,492)** | **Total Sovereign Bonds<br> (cost $156,423,492)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162459300 |
| **U.S. Government Agency Obligations 12.0%** | **U.S. Government Agency Obligations 12.0%** | **U.S. Government Agency Obligations 12.0%** | **U.S. Government Agency Obligations 12.0%** | **U.S. Government Agency Obligations 12.0%** | **U.S. Government Agency Obligations 12.0%** |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;09/01/46 |  | &nbsp;&nbsp;1304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094080 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;01/01/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383045 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;03/01/51 |  | &nbsp;&nbsp;2586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2130117 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;04/01/51 |  | &nbsp;&nbsp;6073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5013359 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;05/01/51 |  | &nbsp;&nbsp;1936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1588846 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;07/01/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375254 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;07/01/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761975 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;11/01/51 |  | &nbsp;&nbsp;3421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2861824 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;01/01/52 |  | &nbsp;&nbsp;&nbsp;&nbsp;907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756292 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;02/01/52 |  | &nbsp;&nbsp;1664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369293 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;07/01/46 |  | &nbsp;&nbsp;3551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179465 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;10/01/51 |  | &nbsp;&nbsp;1299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116975 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;11/01/51 |  | &nbsp;&nbsp;1795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545098 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;01/01/52 |  | &nbsp;&nbsp;1579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371854 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;02/01/52 |  | &nbsp;&nbsp;2541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2178601 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;03/01/52 |  | &nbsp;&nbsp;&nbsp;&nbsp;508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442187 |
| Federal Home Loan Mortgage Corp. | 3.500 | &nbsp;&nbsp;10/01/45 |  | &nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223278 |
| Federal Home Loan Mortgage Corp. | 3.500 | &nbsp;&nbsp;09/01/46 |  | &nbsp;&nbsp;6209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5750676 |
| Federal Home Loan Mortgage Corp. | 3.500 | &nbsp;&nbsp;01/01/52 |  | &nbsp;&nbsp;7429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6662673 |
| Federal Home Loan Mortgage Corp. | 3.500 | &nbsp;&nbsp;02/01/52 |  | &nbsp;&nbsp;&nbsp;&nbsp;843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756581 |

---

------

#### PGIM Absolute Return Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** |
| Federal Home Loan Mortgage Corp. | 3.500% | &nbsp;&nbsp;05/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp; $274301 |
| Federal Home Loan Mortgage Corp. | 4.000 | &nbsp;&nbsp;05/01/52 | &nbsp;&nbsp;5844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400711 |
| Federal Home Loan Mortgage Corp. | 4.000 | &nbsp;&nbsp;06/01/52 | 13901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12848318 |
| Federal Home Loan Mortgage Corp. | 4.500 | &nbsp;&nbsp;09/01/42 | &nbsp;&nbsp;9798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9683352 |
| Federal Home Loan Mortgage Corp. | 4.500 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931596 |
| Federal Home Loan Mortgage Corp. | 4.500 | &nbsp;&nbsp;09/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249720 |
| Federal Home Loan Mortgage Corp. | 5.000 | &nbsp;&nbsp;07/01/52 | &nbsp;&nbsp;4229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4141411 |
| Federal Home Loan Mortgage Corp. | 5.000 | &nbsp;&nbsp;08/01/52 | &nbsp;&nbsp;1983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936949 |
| Federal Home Loan Mortgage Corp. | 5.000 | &nbsp;&nbsp;10/01/52 | &nbsp;&nbsp;6778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6598072 |
| Federal Home Loan Mortgage Corp. | 5.000 | &nbsp;&nbsp;11/01/52 | &nbsp;&nbsp;1143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1117825 |
| Federal Home Loan Mortgage Corp. | 5.000 | &nbsp;&nbsp;12/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813818 |
| Federal Home Loan Mortgage Corp. | 5.000 | &nbsp;&nbsp;01/01/53 | &nbsp;&nbsp;2882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2818611 |
| Federal Home Loan Mortgage Corp. | 5.500 | &nbsp;&nbsp;11/01/52 | &nbsp;&nbsp;1413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1409555 |
| Federal Home Loan Mortgage Corp. | 5.500 | &nbsp;&nbsp;01/01/55 | 29225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29078385 |
| Federal Home Loan Mortgage Corp. | 5.500 | &nbsp;&nbsp;04/01/55 | &nbsp;&nbsp;8429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8391643 |
| Federal Home Loan Mortgage Corp. | 5.500 | &nbsp;&nbsp;05/01/55 | &nbsp;&nbsp;5455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5427231 |
| Federal Home Loan Mortgage Corp. | 6.000 | &nbsp;&nbsp;11/01/52 | &nbsp;&nbsp;5035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5120091 |
| Federal Home Loan Mortgage Corp. | 6.000 | &nbsp;&nbsp;01/01/53 | &nbsp;&nbsp;1586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1611232 |
| Federal Home Loan Mortgage Corp. | 6.000 | &nbsp;&nbsp;03/01/53 | &nbsp;&nbsp;1658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683037 |
| Federal Home Loan Mortgage Corp. | 6.000 | &nbsp;&nbsp;03/01/53 | &nbsp;&nbsp;1715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1754803 |
| Federal Home Loan Mortgage Corp. | 6.000 | &nbsp;&nbsp;04/01/53 | &nbsp;&nbsp;1246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1266674 |
| Federal Home Loan Mortgage Corp. | 6.000 | &nbsp;&nbsp;12/01/54 | 12108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12276705 |
| Federal National Mortgage Assoc. | 2.000 | &nbsp;&nbsp;TBA | 24500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19171619 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;TBA | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049041 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;02/01/51 | &nbsp;&nbsp;1869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542462 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;03/01/51 | &nbsp;&nbsp;1544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1273077 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;08/01/43 | &nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306665 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;04/01/48 | &nbsp;&nbsp;4990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4452955 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;07/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401911 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;10/01/51 | &nbsp;&nbsp;1891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625567 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;02/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383950 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;04/01/52 | &nbsp;&nbsp;3532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3028600 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;01/01/50 | &nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590759 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;07/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840105 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;04/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248181 |
| Federal National Mortgage Assoc.(h) | 3.500 | &nbsp;&nbsp;05/01/52 | 15850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14185696 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;1015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913958 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;2317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082329 |
| Federal National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;03/01/48 | &nbsp;&nbsp;9277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8868244 |
| Federal National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;04/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;887088 |
| Federal National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;05/01/52 | &nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3556689 |
| Federal National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;3158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2918403 |
| Federal National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;04/01/53 | &nbsp;&nbsp;1941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1798225 |
| Federal National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;4262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4050220 |
| Federal National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;08/01/52 | &nbsp;&nbsp;4698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4464974 |
| Federal National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;11/01/52 | &nbsp;&nbsp;3399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3230688 |
| Federal National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;10/01/53 | &nbsp;&nbsp;3184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3023754 |
| Federal National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;11/01/53 | &nbsp;&nbsp;2882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2736018 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;TBA | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8272180 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;07/01/52 | &nbsp;&nbsp;2015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1971295 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;08/01/52 | &nbsp;&nbsp;3538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3460616 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;09/01/52 | &nbsp;&nbsp;3579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500613 |
| Federal National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;TBA | &nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6460255 |
| Federal National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;TBA | 27500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27354408 |
| Federal National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;10/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739965 |
| Federal National Mortgage Assoc.(k) | 5.500 | &nbsp;&nbsp;11/01/52 | 22187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22191865 |
| Federal National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;07/01/55 | &nbsp;&nbsp;7484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7446112 |
| Federal National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;TBA | 19500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19751244 |
| Federal National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;11/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888148 |
| Federal National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;12/01/52 | &nbsp;&nbsp;1152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173937 |
| Federal National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;01/01/53 | &nbsp;&nbsp;2935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2984072 |
| Federal National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;04/01/53 | &nbsp;&nbsp;1221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241740 |
| Federal National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;12/01/54 | &nbsp;&nbsp;2485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2520120 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** |
| Government National Mortgage Assoc. | 2.000% | &nbsp;&nbsp;10/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;8870 | &nbsp;&nbsp; $7163598 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;12/20/51 | &nbsp;&nbsp;10284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9287026 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;01/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;1424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1284910 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;03/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;2356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2124728 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;04/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;1047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943737 |
| Government National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;01/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;1775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1653045 |
| Government National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;06/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;5237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4860897 |
| Government National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;08/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;6022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5593613 |
| Government National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;07/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818150 |
| Government National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;08/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;5765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5517527 |
| Government National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;02/20/54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878592 |
| Government National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;08/20/54 | &nbsp;&nbsp;&nbsp;&nbsp;5878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5867759 |
| Government National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;09/20/54 | &nbsp;&nbsp;&nbsp;&nbsp;5416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5405956 |
| Government National Mortgage Assoc.(h) | 5.500 | &nbsp;&nbsp;10/20/54 | &nbsp;&nbsp;13855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13830698 |
| Government National Mortgage Assoc. | 6.500 | &nbsp;&nbsp;TBA | &nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2562000 |
| **Total U.S. Government Agency Obligations<br> (cost $423,512,147)** | **Total U.S. Government Agency Obligations<br> (cost $423,512,147)** | **Total U.S. Government Agency Obligations<br> (cost $423,512,147)** | **Total U.S. Government Agency Obligations<br> (cost $423,512,147)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422775497 |
| **U.S. Treasury Obligations 26.8%** | **U.S. Treasury Obligations 26.8%** | **U.S. Treasury Obligations 26.8%** | **U.S. Treasury Obligations 26.8%** | **U.S. Treasury Obligations 26.8%** |
| U.S. Treasury Bonds | 1.625 | &nbsp;&nbsp;11/15/50 | &nbsp;&nbsp;48600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25226438 |
| U.S. Treasury Bonds | 2.250 | &nbsp;&nbsp;05/15/41 | &nbsp;&nbsp;20165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14518800 |
| U.S. Treasury Bonds | 2.375 | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;72235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45846652 |
| U.S. Treasury Bonds | 3.000 | &nbsp;&nbsp;02/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;4085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2971199 |
| U.S. Treasury Bonds | 3.250 | &nbsp;&nbsp;05/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;5630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4606923 |
| U.S. Treasury Bonds(h) | 3.375 | &nbsp;&nbsp;11/15/48 | &nbsp;&nbsp;68955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53860320 |
| U.S. Treasury Bonds | 3.625 | &nbsp;&nbsp;02/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804531 |
| U.S. Treasury Bonds | 4.125 | &nbsp;&nbsp;08/15/44 | &nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27164062 |
| U.S. Treasury Notes | 0.625 | &nbsp;&nbsp;07/31/26 | &nbsp;&nbsp;60605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58512234 |
| U.S. Treasury Notes | 0.750 | &nbsp;&nbsp;05/31/26 | &nbsp;&nbsp;81695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79381372 |
| U.S. Treasury Notes | 0.750 | &nbsp;&nbsp;08/31/26 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38565625 |
| U.S. Treasury Notes | 0.875 | &nbsp;&nbsp;09/30/26 | &nbsp;&nbsp;25440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24504881 |
| U.S. Treasury Notes | 1.250 | &nbsp;&nbsp;11/30/26 | 237240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228630783 |
| U.S. Treasury Notes | 3.875 | &nbsp;&nbsp;09/30/29 | &nbsp;&nbsp;&nbsp;&nbsp;4110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4101973 |
| U.S. Treasury Notes | 3.875 | &nbsp;&nbsp;12/31/29 | &nbsp;&nbsp;11595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11566918 |
| U.S. Treasury Notes(k) | 4.000 | &nbsp;&nbsp;12/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;8210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8203265 |
| U.S. Treasury Notes | 4.000 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;68890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68836180 |
| U.S. Treasury Notes | 4.125 | &nbsp;&nbsp;02/28/27 | &nbsp;&nbsp;&nbsp;&nbsp;9580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9594969 |
| U.S. Treasury Notes | 4.250 | &nbsp;&nbsp;06/30/29 | &nbsp;&nbsp;38500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38957187 |
| U.S. Treasury Notes | 4.375 | &nbsp;&nbsp;12/15/26 | 113060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113519306 |
| U.S. Treasury Notes(h) | 4.625 | &nbsp;&nbsp;09/30/30 | &nbsp;&nbsp;67260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69272545 |
| U.S. Treasury Strips Coupon | 3.019(s) | &nbsp;&nbsp;11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544157 |
| U.S. Treasury Strips Coupon | 3.513(s) | &nbsp;&nbsp;11/15/41 | &nbsp;&nbsp;23665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10464693 |
| U.S. Treasury Strips Coupon | 3.575(s) | &nbsp;&nbsp;08/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74119 |
| U.S. Treasury Strips Coupon | 4.663(s) | &nbsp;&nbsp;02/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97606 |
| U.S. Treasury Strips Coupon | 4.770(s) | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168540 |
| U.S. Treasury Strips Coupon | 4.928(s) | &nbsp;&nbsp;11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152618 |
| **Total U.S. Treasury Obligations<br> (cost $951,123,279)** | **Total U.S. Treasury Obligations<br> (cost $951,123,279)** | **Total U.S. Treasury Obligations<br> (cost $951,123,279)** | **Total U.S. Treasury Obligations<br> (cost $951,123,279)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940147896 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Shares** |  |
| **Affiliated Exchange-Traded Funds 6.0%** | **Affiliated Exchange-Traded Funds 6.0%** | **Affiliated Exchange-Traded Funds 6.0%** |
| PGIM AAA CLO ETF | 1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92646000 |
| PGIM Floating Rate Income ETF | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2517250 |
| PGIM Ultra Short Bond ETF | 2350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116959500 |
| **Total Affiliated Exchange-Traded Funds<br> (cost $211,496,606)(wa)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212122750 |

---

------

#### PGIM Absolute Return Bond Fund

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

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks 0.2%** | **Common Stocks 0.2%** | **Common Stocks 0.2%** |
| **Chemicals 0.1%** | **Chemicals 0.1%** | **Chemicals 0.1%** |
| TPC Group, Inc.\* | &nbsp;&nbsp;56219 | &nbsp;&nbsp; $1338715 |
| **Gas Utilities 0.0%** | **Gas Utilities 0.0%** | **Gas Utilities 0.0%** |
| Ferrellgas Partners LP (Class B Stock)\*(x) | &nbsp;&nbsp;&nbsp;&nbsp;6534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863790 |
| **Hotels, Restaurants & Leisure 0.0%** | **Hotels, Restaurants & Leisure 0.0%** | **Hotels, Restaurants & Leisure 0.0%** |
| Codere Group Topco SA (Spain) (Class A1 Stock)\*^ | &nbsp;&nbsp;10406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237506 |
| Codere Group Topco SA (Spain) (Class A2 Stock)\*^ | &nbsp;&nbsp;14649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334349 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571855 |
| **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** |
| Diamond Sports Group LLC\*(x) | &nbsp;&nbsp;28420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381311 |
| **Oil, Gas & Consumable Fuels 0.0%** | **Oil, Gas & Consumable Fuels 0.0%** | **Oil, Gas & Consumable Fuels 0.0%** |
| Expand Energy Corp. | &nbsp;&nbsp;12570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1317085 |
| **Wireless Telecommunication Services 0.1%** | **Wireless Telecommunication Services 0.1%** | **Wireless Telecommunication Services 0.1%** |
| Digicel International Finance Ltd. (Jamaica)\* | 147816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182528 |
| Intelsat Emergence SA (Luxembourg)\*^ | &nbsp;&nbsp;19703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Intelsat Emergence SA (Luxembourg)\* | &nbsp;&nbsp;19703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229668 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412198 |
| **Total Common Stocks<br> (cost $1,648,476)** | **Total Common Stocks<br> (cost $1,648,476)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5884954 |
| **Preferred Stocks 0.0%** | **Preferred Stocks 0.0%** | **Preferred Stocks 0.0%** |
| **Electronic Equipment, Instruments & Components 0.0%** | **Electronic Equipment, Instruments & Components 0.0%** | **Electronic Equipment, Instruments & Components 0.0%** |
| Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31^(x) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 |
| **Wireless Telecommunication Services 0.0%** | **Wireless Telecommunication Services 0.0%** | **Wireless Telecommunication Services 0.0%** |
| Digicel International Finance Ltd. (Jamaica)\*^ | &nbsp;&nbsp;&nbsp;&nbsp;9592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113929 |
| **Total Preferred Stocks<br> (cost $584,180)** | **Total Preferred Stocks<br> (cost $584,180)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658929 |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Units** |  |
| **Warrants\* 0.0%** | **Warrants\* 0.0%** | **Warrants\* 0.0%** |
| **Hotels, Restaurants & Leisure 0.0%** | **Hotels, Restaurants & Leisure 0.0%** | **Hotels, Restaurants & Leisure 0.0%** |
| Codere Group Topco SA (Spain), expiring 09/30/34^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311 |
| **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** |
| Diamond Sports Group LLC, expiring 06/30/26(x) | 53156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10227 |
| **Total Warrants<br> (cost $1,320)** | **Total Warrants<br> (cost $1,320)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10538 |
| **Total Long-Term Investments<br> (cost $3,571,232,875)** | **Total Long-Term Investments<br> (cost $3,571,232,875)** | &nbsp;&nbsp;&nbsp;&nbsp;3593490133 |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

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

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| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Short-Term Investments 2.6%** | **Short-Term Investments 2.6%** | **Short-Term Investments 2.6%** |
| **Affiliated Mutual Funds 2.6%** |  |  |
| PGIM Core Government Money Market Fund (7-day effective yield 4.492%)(wa) | &nbsp;&nbsp;52955908 | &nbsp;&nbsp; $52955908 |
| PGIM Institutional Money Market Fund (7-day effective yield 4.528%)<br> (cost $37,309,257; includes $37,147,222 of cash collateral for securities on loan)(b)(wa) | &nbsp;&nbsp;37338742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37312605 |
| **Total Affiliated Mutual Funds<br> (cost $90,265,165)** | **Total Affiliated Mutual Funds<br> (cost $90,265,165)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90268513 |
| **Options Purchased\*~ 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(cost $834,386) | &nbsp;&nbsp;&nbsp;&nbsp;(cost $834,386) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730923 |
| **Total Short-Term Investments<br> (cost $91,099,551)** | **Total Short-Term Investments<br> (cost $91,099,551)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90999436 |
| **TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN 105.0%<br> (cost $3,662,332,426)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3684489569 |
| **Options Written\*~ (0.1)%** | **Options Written\*~ (0.1)%** | **Options Written\*~ (0.1)%** |
| &nbsp;&nbsp;&nbsp;&nbsp;(premiums received $1,692,693) | &nbsp;&nbsp;&nbsp;&nbsp;(premiums received $1,692,693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1688670) |
| **TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 104.9%<br> (cost $3,660,639,733)** | **TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 104.9%<br> (cost $3,660,639,733)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3682800899 |
| Liabilities in excess of other assets(z) (4.9)% | Liabilities in excess of other assets(z) (4.9)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(172100540) |
| **Net Assets 100.0%** | **Net Assets 100.0%** | $3510700359 |

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

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| |
|:---|
| BRL—Brazilian Real |
| CLP—Chilean Peso |
| CNH—Chinese Renminbi |
| COP—Colombian Peso |
| CZK—Czech Koruna |
| EUR—Euro |
| GBP—British Pound |
| HUF—Hungarian Forint |
| IDR—Indonesian Rupiah |
| INR—Indian Rupee |
| JPY—Japanese Yen |
| KRW—South Korean Won |
| MXN—Mexican Peso |
| PEN—Peruvian Nuevo Sol |
| PHP—Philippine Peso |
| PLN—Polish Zloty |
| SGD—Singapore Dollar |
| THB—Thai Baht |
| TRY—Turkish Lira |
| TWD—New Taiwanese Dollar |
| USD—US Dollar |
| ZAR—South African Rand |

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| |
|:---|
| 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 |
| BABs—Build America Bonds |
| BARC—Barclays Bank PLC |
| BNP—BNP Paribas S.A. |
| BOA—Bank of America, N.A. |
| CA—Credit Agricole Securities Inc. |
| CBOE—Chicago Board Options Exchange |
| CDX—Credit Derivative Index |
| CITI—Citibank, N.A. |
| CLO—Collateralized Loan Obligation |
| CME—Chicago Mercantile Exchange |
| COP—Certificates of Participation |
| DAC—Designated Activity Company |
| DB—Deutsche Bank AG |
| EMTN—Euro Medium Term Note |

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#### PGIM Absolute Return Bond Fund

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

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| |
|:---|
| ETF—Exchange-Traded Fund |
| EURIBOR—Euro Interbank Offered Rate |
| FHLMC—Federal Home Loan Mortgage Corporation |
| GMTN—Global Medium Term Note |
| GSI—Goldman Sachs International |
| HSBC—HSBC Bank PLC |
| iBoxx—Bond Market Indices |
| IO—Interest Only (Principal amount represents notional) |
| JPM—JPMorgan Chase Bank N.A. |
| LP—Limited Partnership |
| M—Monthly payment frequency for swaps |
| MASTR—Morgan Stanley Structured Asset Security |
| MSI—Morgan Stanley & Co International PLC |
| MTN—Medium Term Note |
| N/A—Not Applicable |
| OTC—Over-the-counter |
| PIK—Payment-in-Kind |
| PO—Principal Only |
| Q—Quarterly payment frequency for swaps |
| REITs—Real Estate Investment Trust |
| REMIC—Real Estate Mortgage Investment Conduit |
| SCB—Standard Chartered Bank |
| SOFR—Secured Overnight Financing Rate |
| SONIA—Sterling Overnight Index Average |
| SSB—State Street Bank & Trust Company |
| T—Swap payment upon termination |
| TBA—To Be Announced |
| TD—The Toronto-Dominion Bank |
| UAG—UBS AG |
| USOIS—United States Overnight Index Swap |

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| | |
|:---|:---|
| \* | Non-income producing security. |
| # | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
| ~ | See tables subsequent to the Schedule of Investments for options detail. Excludes centrally cleared swaptions. Options with maturity dates greater than one year from date of acquisition would be considered long-term investments. |
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $12,449,952 and 0.4% of net assets. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $36,397,530; cash collateral of $37,147,222 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Fund may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day. |
| (b) | Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment. |
| (c) | Variable rate instrument. The interest rate shown reflects the rate in effect at July 31, 2025. |
| (cc) | Variable rate instrument. The rate shown is based on the latest available information as of July 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. |
| (d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
| (ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
| (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. |
| (oo) | Perpetual security. Maturity date represents next call date. |
| (p) | Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end. |
| (r) | Principal or notional amount is less than $500 par. |
| (s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
| (wa) | Represents investments in Funds affiliated with the Manager. |
| (x) | The following represents restricted securities that are acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law. |

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(x) Restricted Securities:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer Description** | **Acquisition<br> Date** | **Original<br> Cost** | **Market<br> Value** | **Percentage<br> of<br> Net Assets** |
| 20 Times Square Trust,<br> Series 2018-20TS, Class G, 144A, 3.100%(cc), 05/15/35 | 05/09/18 | $2454600 | $2335500 | 0.1% |
| 20 Times Square Trust,<br> Series 2018-20TS, Class H, 144A, 3.100%(cc), 05/15/35 | 05/09/18 | &nbsp;&nbsp;&nbsp;2389640 | &nbsp;&nbsp;&nbsp;2268000 | 0.1 |
| Diamond Sports Group LLC\* | 01/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74408 | &nbsp;&nbsp;&nbsp;&nbsp;381311 | 0.0 |
| Diamond Sports Group LLC, expiring 06/30/26 | 01/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10227 | 0.0 |

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PGIM Absolute Return Bond Fund

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#### PGIM Absolute Return Bond Fund

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer Description** | **Acquisition<br> Date** | **Original<br> Cost** | **Market<br> Value** | **Percentage<br> of<br> Net Assets** |
| Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31^ | 06/26/24 | &nbsp;&nbsp; $550450 | &nbsp;&nbsp; $545000 | 0.0% |
| Ferrellgas Partners LP (Class B Stock)\* | 10/25/19 | &nbsp;&nbsp;&nbsp;1794337 | &nbsp;&nbsp;&nbsp;&nbsp;863790 | 0.0 |
| &nbsp;&nbsp;&nbsp;**Total** |  | $7263435 | $6403828 | 0.2% |

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

#### Unfunded corporate bond commitment outstanding at July 31, 2025 :

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| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer** | **Principal<br> Amount<br> (000)#** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| New Generation Gas Gathering LLC, Sr. Sec'd. Notes, 144A, —%(p), Maturity Date 09/30/29 (cost $173,041)^ | 175 | $173041 | $— | $— |

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#### Unfunded loan commitments outstanding at July 31, 2025 :

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| | | | | |
|:---|:---|:---|:---|:---|
| **Borrower** | **Principal<br> Amount<br> (000)#** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| ClubCorp Holdings, Inc., Delayed Draw Term Loan, 1.000%, Maturity Date 07/09/32 (cost $70,496)^ | &nbsp;&nbsp;&nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp; $70974 | &nbsp;&nbsp;&nbsp;&nbsp; $478 | $— |
| ClubCorp Holdings, Inc., Revolver Loan, 0.500%, Maturity Date 07/31/32 (cost $117,494)^ | &nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp;&nbsp;118289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796 | &nbsp;&nbsp;&nbsp;— |
| Doncasters US Finance LLC, 2025 Delayed Draw Term Loan, —%(p), Maturity Date 04/01/30 (cost $1,200,000) | 1200 | &nbsp;&nbsp;&nbsp;1212000 | &nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;— |
|  |  | $1401263 | $13274 | $— |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Forward Commitment Contract:** |  |  |  |  |  |  |
| **U.S. Government Agency Obligations** | **Interest<br> Rate** | **Maturity<br> Date** | **Settlement<br> Date** | **Principal<br> Amount<br> (000)#** |  | **Value** |
| Federal National Mortgage Assoc.<br> (proceeds receivable $2,142,305) | 3.000% | TBA | 09/15/25 | $(2500) | $(2139520) |  |

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#### Option Purchased :

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** |
| **Description** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| 3 Month SOFR &nbsp;&nbsp;Call | &nbsp;&nbsp;12/12/25 | &nbsp;&nbsp;$99.75 |  | &nbsp;&nbsp;182 |  | &nbsp;&nbsp;455 | &nbsp;&nbsp; $1138 |
| &nbsp;&nbsp;&nbsp;(cost $2,563) |  |  |  |  |  |  |  |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** |  |
| **Description** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| Currency Option EUR vs PLN &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.60 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;3633 | &nbsp;&nbsp;&nbsp;&nbsp; $137 |
| Currency Option EUR vs TRY &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;08/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;7385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 |
| Currency Option EUR vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;12714 | &nbsp;&nbsp;&nbsp;&nbsp;5641 |
| Currency Option EUR vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;3639 | &nbsp;&nbsp;&nbsp;&nbsp;1671 |
| Currency Option USD vs BRL &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;08/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Currency Option USD vs BRL &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;08/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.80 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205 |
| Currency Option USD vs CNH &nbsp;&nbsp;Call | DB | &nbsp;&nbsp;09/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.95 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;50667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369 |
| Currency Option USD vs COP &nbsp;&nbsp;Call | HSBC | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;5000.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 |
| Currency Option USD vs JPY &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;08/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;170.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| Currency Option USD vs KRW &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/20/25 | &nbsp;&nbsp;1550.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 |
| Currency Option USD vs KRW &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;09/25/25 | &nbsp;&nbsp;1750.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;11836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
| Currency Option USD vs MXN &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;3846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 |
| Currency Option USD vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/08/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 |
| Currency Option USD vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479 |
| Currency Option USD vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995 |
| Currency Option USD vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4259 | &nbsp;&nbsp;&nbsp;&nbsp;2207 |
| Currency Option USD vs TWD &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 |

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#### PGIM Absolute Return Bond Fund

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

#### Option Purchased (continued):<br>

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** |  |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| Currency Option EUR vs JPY | &nbsp;&nbsp;&nbsp;Put | BARC | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;150.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;5447 | &nbsp;&nbsp;&nbsp;&nbsp; $21 |
| Currency Option EUR vs USD | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;08/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.05 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;10818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;08/07/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs INR | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;01/08/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;21318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388 |
| Currency Option USD vs INR | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;01/08/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;6142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112 |
| Currency Option USD vs JPY | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;130.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;6373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 |
| Currency Option USD vs KRW | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;09/25/25 | &nbsp;&nbsp;1331.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;11836 | &nbsp;&nbsp;&nbsp;&nbsp;23489 |
| Currency Option USD vs TWD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;08/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs TWD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Currency Option USD vs TWD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Currency Option USD vs ZAR | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 |
| **Total OTC Traded (cost $178,838)** | **Total OTC Traded (cost $178,838)** | **Total OTC Traded (cost $178,838)** |  |  |  |  |  |  | &nbsp;&nbsp;$37364 |

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** |  |  |  |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Receive** | &nbsp;&nbsp;**Pay** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| 10-Year Interest Rate Swap, 09/29/35 | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;09/25/25 | &nbsp;&nbsp;0.40% | &nbsp;&nbsp;0.40%(A) | &nbsp;&nbsp;1 Day SOFR(A)/ 4.390% |  | &nbsp;&nbsp;&nbsp;&nbsp;4885 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| 10-Year Interest Rate Swap, 09/29/35 | &nbsp;&nbsp;Call | DB | &nbsp;&nbsp;09/25/25 | &nbsp;&nbsp;3.53% | &nbsp;&nbsp;3.53%(A) | &nbsp;&nbsp;1 Day SOFR(A)/ 4.390% |  | &nbsp;&nbsp;&nbsp;&nbsp;4885 |  | &nbsp;&nbsp;&nbsp;&nbsp;13492 |
| CDX.NA.IG.44.V1, 06/20/30 | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;0.55% | &nbsp;&nbsp;CDX.NA.IG.44.V1(Q) | &nbsp;&nbsp;1.00%(Q) |  | &nbsp;&nbsp;407760 |  | &nbsp;&nbsp;&nbsp;&nbsp;678929 |
| **Total OTC Swaptions (cost $652,985)** | **Total OTC Swaptions (cost $652,985)** | **Total OTC Swaptions (cost $652,985)** | **Total OTC Swaptions (cost $652,985)** | **Total OTC Swaptions (cost $652,985)** | **Total OTC Swaptions (cost $652,985)** | **Total OTC Swaptions (cost $652,985)** |  |  |  | $692421 |
| **Total Options Purchased (cost $834,386)** | **Total Options Purchased (cost $834,386)** | **Total Options Purchased (cost $834,386)** | **Total Options Purchased (cost $834,386)** | **Total Options Purchased (cost $834,386)** | **Total Options Purchased (cost $834,386)** | **Total Options Purchased (cost $834,386)** |  |  |  | $730923 |

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#### Options Written :

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** |
| **Description** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| 3 Month SOFR &nbsp;&nbsp;Call | &nbsp;&nbsp;12/12/25 | &nbsp;&nbsp;$99.25 |  | &nbsp;&nbsp;83 |  | &nbsp;&nbsp;208 | &nbsp;&nbsp; $(519) |
| &nbsp;&nbsp;&nbsp;(premiums received $397) |  |  |  |  |  |  |  |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** |  |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| Currency Option EUR vs PLN | &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;3633 | &nbsp;&nbsp;&nbsp;&nbsp; $(36312) |
| Currency Option EUR vs TRY | &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;08/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;7385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21286) |
| Currency Option EUR vs TRY | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50.50 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;12714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65224) |
| Currency Option EUR vs TRY | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50.50 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;3639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22515) |
| Currency Option USD vs BRL | &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;08/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.55 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(49785) |
| Currency Option USD vs BRL | &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;08/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.69 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25102) |
| Currency Option USD vs COP | &nbsp;&nbsp;Call | HSBC | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;4150.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55658) |
| Currency Option USD vs JPY | &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;08/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;145.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(156942) |
| Currency Option USD vs KRW | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/20/25 | &nbsp;&nbsp;1400.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27612) |
| Currency Option USD vs KRW | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;09/25/25 | &nbsp;&nbsp;1385.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;11836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(193796) |
| Currency Option USD vs MXN | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.20 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;3846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16884) |
| Currency Option USD vs TRY | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42.70 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6210) |
| Currency Option USD vs TRY | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42.50 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14044) |
| Currency Option USD vs TRY | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/28/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42.60 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28698) |
| Currency Option USD vs TWD | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;4259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29246) |
| Currency Option EUR vs JPY | &nbsp;&nbsp;&nbsp;Put | BARC | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;172.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;5447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45161) |
| Currency Option EUR vs USD | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;08/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.17 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;10818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(293219) |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;08/07/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.45 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(505) |
| Currency Option USD vs INR | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;01/08/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;13730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(82491) |
| Currency Option USD vs JPY | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;148.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;6373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22393) |
| Currency Option USD vs TWD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;08/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) |
| Currency Option USD vs TWD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.70 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(626) |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

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

#### Options Written (continued):<br>

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** |  |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| Currency Option USD vs TWD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27.70 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(626) |
| Currency Option USD vs ZAR | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.70 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6100) |
| **Total OTC Traded (premiums received $1,131,626)** | **Total OTC Traded (premiums received $1,131,626)** | **Total OTC Traded (premiums received $1,131,626)** |  |  |  |  |  |  | &nbsp;&nbsp;$(1200440) |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** |  |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Receive** | &nbsp;&nbsp;**Pay** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| 10-Year Interest Rate Swap, 09/29/35 | &nbsp;&nbsp;Call | DB | &nbsp;&nbsp;09/25/25 | &nbsp;&nbsp;3.21% | &nbsp;&nbsp;1 Day SOFR(A)/ 4.390% | &nbsp;&nbsp;3.21%(A) | &nbsp;&nbsp;&nbsp;&nbsp;9770 |  | &nbsp;&nbsp;&nbsp;&nbsp; $(5111) |
| CDX.NA.IG.44.V1, 06/20/30 | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;0.48% | &nbsp;&nbsp;CDX.NA.IG.44.V1(Q) | &nbsp;&nbsp;1.00%(Q) | &nbsp;&nbsp;407760 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216983) |
| CDX.NA.IG.44.V1, 06/20/30 | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;10/15/25 | &nbsp;&nbsp;0.70% | &nbsp;&nbsp;1.00%(Q) | &nbsp;&nbsp;CDX.NA.IG.44.V1(Q) | &nbsp;&nbsp;407760 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(265617) |
| **Total OTC Swaptions (premiums received $560,670)** | **Total OTC Swaptions (premiums received $560,670)** | **Total OTC Swaptions (premiums received $560,670)** | **Total OTC Swaptions (premiums received $560,670)** | **Total OTC Swaptions (premiums received $560,670)** | **Total OTC Swaptions (premiums received $560,670)** | **Total OTC Swaptions (premiums received $560,670)** |  |  | &nbsp;&nbsp;$(487711) |
| **Total Options Written (premiums received $1,692,693)** | **Total Options Written (premiums received $1,692,693)** | **Total Options Written (premiums received $1,692,693)** | **Total Options Written (premiums received $1,692,693)** | **Total Options Written (premiums received $1,692,693)** | **Total Options Written (premiums received $1,692,693)** | **Total Options Written (premiums received $1,692,693)** |  |  | $(1688670) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts outstanding at July 31, 2025:** | **Futures contracts outstanding at July 31, 2025:** | **Futures contracts outstanding at July 31, 2025:** | **Futures contracts outstanding at July 31, 2025:** | **Futures contracts outstanding at July 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:** |
| 1999 | 3 Month CME SOFR | Sep. 2025 | $477948406 | &nbsp;&nbsp; $(225333) |
| 334 | 10 Year U.S. Ultra Treasury Notes | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;37768095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88996 |
| 576 | 20 Year U.S. Treasury Bonds | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;65772000 | &nbsp;&nbsp;&nbsp;&nbsp;1135244 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998907 |
| **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** |
| 87 | 30 Day Federal Funds | Aug. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;34684962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1040) |
| 462 | 3 Month CME SOFR | Dec. 2025 | &nbsp;&nbsp;&nbsp;110608575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181330 |
| 406 | 3 Month CME SOFR | Mar. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;97409550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181957 |
| 406 | 3 Month CME SOFR | Jun. 2026 | &nbsp;&nbsp;&nbsp;&nbsp;97622700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192107 |
| 2452 | 2 Year U.S. Treasury Notes | Sep. 2025 | &nbsp;&nbsp;&nbsp;507525690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822081 |
| 247 | 5 Year Euro-Bobl | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;33055645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208001 |
| 3900 | 5 Year U.S. Treasury Notes | Sep. 2025 | &nbsp;&nbsp;&nbsp;421870332 | &nbsp;&nbsp;&nbsp;&nbsp;(777912) |
| 26 | 10 Year Euro-Bund | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3848355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33331 |
| 703 | 10 Year U.S. Treasury Notes | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;78076938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37688) |
| 1610 | 30 Year U.S. Ultra Treasury Bonds | Sep. 2025 | &nbsp;&nbsp;&nbsp;188873125 | &nbsp;&nbsp;&nbsp;(4025150) |
| 840 | CBOE iBoxx iShares Investment Grade Corporate Bond Index | Sep. 2025 | &nbsp;&nbsp;&nbsp;119057400 | &nbsp;&nbsp;&nbsp;&nbsp;(536251) |
| 222 | Euro Schatz Index | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;27120732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89750 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;(3669484) |
|  |  |  |  | $(2670577) |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase<br> Contracts** | &nbsp;&nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;&nbsp;**Value at<br> Settlement<br> Date** | &nbsp;&nbsp;&nbsp;**Current<br> Value** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**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:** |
| Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, |
| &nbsp;&nbsp;&nbsp;Expiring 08/04/25 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120804 | &nbsp;&nbsp; $21790880 | &nbsp;&nbsp; $21551933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $(238947) |
| &nbsp;&nbsp;&nbsp;Expiring 08/04/25 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9969000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9946654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22346) |
| &nbsp;&nbsp;&nbsp;Expiring 09/03/25 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108555 | &nbsp;&nbsp;&nbsp;&nbsp;19289124 | &nbsp;&nbsp;&nbsp;&nbsp;19214523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(74601) |
| British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6362) |
| Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;CLP | &nbsp;&nbsp;&nbsp;&nbsp;1959584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(105128) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;DB | &nbsp;&nbsp;CLP | &nbsp;&nbsp;&nbsp;&nbsp;2360589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2427191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(113809) |
| Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7666000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7625564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40436) |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;&nbsp;Expiring 08/06/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12113 | &nbsp;&nbsp;&nbsp;&nbsp;14051000 | &nbsp;&nbsp;&nbsp;&nbsp;13828850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(222150) |

---

------

#### PGIM Absolute Return Bond Fund

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

#### Forward foreign currency exchange contracts outstanding at July 31, 2025 (continued):<br>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase<br> Contracts** | &nbsp;&nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;&nbsp;**Value at<br> Settlement<br> Date** | &nbsp;&nbsp;&nbsp;**Current<br> Value** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |
| Euro (cont'd.), | Euro (cont'd.), | Euro (cont'd.), | Euro (cont'd.), | Euro (cont'd.), | Euro (cont'd.), | Euro (cont'd.), | Euro (cont'd.), |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;UAG | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;&nbsp; $848277 | &nbsp;&nbsp;&nbsp;&nbsp; $824996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(23281) |
| Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2305815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2259250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(46565) |
| Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, |
| &nbsp;&nbsp;&nbsp;Expiring 08/29/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6865000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6742720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(122280) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;DB | &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7263000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7161171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101829) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7598298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7599955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;UAG | &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;1604383 | &nbsp;&nbsp;&nbsp;&nbsp;18680375 | &nbsp;&nbsp;&nbsp;&nbsp;18285196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(395179) |
| Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;IDR | &nbsp;&nbsp;&nbsp;&nbsp;15738575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;IDR | &nbsp;&nbsp;402456000 | &nbsp;&nbsp;&nbsp;&nbsp;24644438 | &nbsp;&nbsp;&nbsp;&nbsp;24354912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(289526) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;IDR | &nbsp;&nbsp;131038557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8034000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7929892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104108) |
| Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;1441142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9779172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9645573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(133599) |
| Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7328382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7508428 | &nbsp;&nbsp;&nbsp;&nbsp;180046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6648645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4562102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(142898) |
| Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BNP | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3351150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32190) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3341491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41849) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2780035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2766829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13206) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1591242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11898) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6812) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;DB | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3184320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3154138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30182) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4170112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227951 | &nbsp;&nbsp;&nbsp;&nbsp;57839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3801386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4438980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4362002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76978) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3523000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3474415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48585) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3573000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3503318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(69682) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591175 | &nbsp;&nbsp;&nbsp;&nbsp;10564239 | &nbsp;&nbsp;&nbsp;&nbsp;10139866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(424373) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6130020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6065922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64098) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3573000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3495657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77343) |
| Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38582) |
| South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6516523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6356152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(160371) |
| South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;KRW | &nbsp;&nbsp;&nbsp;&nbsp;12759473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9247000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9170546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76454) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;SCB | &nbsp;&nbsp;KRW | &nbsp;&nbsp;&nbsp;&nbsp;18925043 | &nbsp;&nbsp;&nbsp;&nbsp;13921000 | &nbsp;&nbsp;&nbsp;&nbsp;13601892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(319108) |
| Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5644000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63774) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5644000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5566356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77644) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;UAG | &nbsp;&nbsp;THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2374000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2382440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, |
| &nbsp;&nbsp;&nbsp;Expiring 08/13/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3850815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3875226 | &nbsp;&nbsp;&nbsp;&nbsp;24411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 08/13/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3845139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3875226 | &nbsp;&nbsp;&nbsp;&nbsp;30087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  | &nbsp;&nbsp;$292756974 | &nbsp;&nbsp;$289257540 | &nbsp;&nbsp;&nbsp;&nbsp;316739 | &nbsp;&nbsp;&nbsp;&nbsp;(3816173) |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

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

#### Forward foreign currency exchange contracts outstanding at July 31, 2025 (continued):<br>

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale<br> Contracts** | &nbsp;&nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)** | &nbsp;&nbsp;&nbsp;**Value at<br> Settlement<br> Date** | &nbsp;&nbsp;&nbsp;**Current<br> Value** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**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:** |
| Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, |
| &nbsp;&nbsp;&nbsp;Expiring 08/04/25 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108555 | &nbsp;&nbsp; $19436909 | &nbsp;&nbsp; $19366640 | &nbsp;&nbsp;&nbsp;&nbsp; $70269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp;Expiring 08/04/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68003 | &nbsp;&nbsp;&nbsp;&nbsp;12439000 | &nbsp;&nbsp;&nbsp;&nbsp;12131947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;TD | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51339 | &nbsp;&nbsp;&nbsp;&nbsp;68828054 | &nbsp;&nbsp;&nbsp;&nbsp;67853957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91287 | &nbsp;&nbsp;&nbsp;&nbsp;12701000 | &nbsp;&nbsp;&nbsp;&nbsp;12709354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8354) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217056 | &nbsp;&nbsp;&nbsp;&nbsp;30443496 | &nbsp;&nbsp;&nbsp;&nbsp;30219552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126155 | &nbsp;&nbsp;&nbsp;&nbsp;17673000 | &nbsp;&nbsp;&nbsp;&nbsp;17563911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CITI | &nbsp;&nbsp;COP | &nbsp;&nbsp;26166215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6218000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2000) |
| Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254080 | &nbsp;&nbsp;&nbsp;&nbsp;12033374 | &nbsp;&nbsp;&nbsp;&nbsp;11823311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80194 | &nbsp;&nbsp;&nbsp;&nbsp;93761374 | &nbsp;&nbsp;&nbsp;&nbsp;92023005 | &nbsp;&nbsp;&nbsp;&nbsp;1738369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;BNP | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7990804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7857965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;DB | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59385 | &nbsp;&nbsp;&nbsp;&nbsp;69921635 | &nbsp;&nbsp;&nbsp;&nbsp;68144709 | &nbsp;&nbsp;&nbsp;&nbsp;1776926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;SSB | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80194 | &nbsp;&nbsp;&nbsp;&nbsp;94179185 | &nbsp;&nbsp;&nbsp;&nbsp;92023004 | &nbsp;&nbsp;&nbsp;&nbsp;2156181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;TD | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 10/22/25 | &nbsp;&nbsp;UAG | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78130 | &nbsp;&nbsp;&nbsp;&nbsp;91944711 | &nbsp;&nbsp;&nbsp;&nbsp;89654178 | &nbsp;&nbsp;&nbsp;&nbsp;2290533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955057 | &nbsp;&nbsp;&nbsp;&nbsp;10965000 | &nbsp;&nbsp;&nbsp;&nbsp;10884812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;IDR | &nbsp;&nbsp;72829215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4452480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4407312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;IDR | &nbsp;&nbsp;48532032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2968320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2936951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;DB | &nbsp;&nbsp;IDR | &nbsp;&nbsp;96089139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5867000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5814903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;IDR | &nbsp;&nbsp;80874105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4947200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4894154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3152450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3229624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77174) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;DB | &nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3152450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3226067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73617) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;DB | &nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(35483) |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2034000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2055808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21808) |
| New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BARC | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5313000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5211925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;CA | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720589 | &nbsp;&nbsp;&nbsp;&nbsp;24511925 | &nbsp;&nbsp;&nbsp;&nbsp;24191674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;DB | &nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5313000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5199849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19744 | &nbsp;&nbsp;&nbsp;&nbsp;15470544 | &nbsp;&nbsp;&nbsp;&nbsp;15263982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;BOA | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14585 | &nbsp;&nbsp;&nbsp;&nbsp;11428500 | &nbsp;&nbsp;&nbsp;&nbsp;11275316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19209 | &nbsp;&nbsp;&nbsp;&nbsp;15035470 | &nbsp;&nbsp;&nbsp;&nbsp;14850293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;JPM | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14582 | &nbsp;&nbsp;&nbsp;&nbsp;11428500 | &nbsp;&nbsp;&nbsp;&nbsp;11272992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7405530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7364475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;GSI | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2873000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2846581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;MSI | &nbsp;&nbsp;KRW | &nbsp;&nbsp;31971007 | &nbsp;&nbsp;&nbsp;&nbsp;23773978 | &nbsp;&nbsp;&nbsp;&nbsp;22978347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, |
| &nbsp;&nbsp;&nbsp;Expiring 09/17/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689947 | &nbsp;&nbsp;&nbsp;&nbsp;21349997 | &nbsp;&nbsp;&nbsp;&nbsp;21194343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, |
| &nbsp;&nbsp;&nbsp;Expiring 08/13/25 | &nbsp;&nbsp;HSBC | &nbsp;&nbsp;TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7938000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7976530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38530) |
|  |  |  |  | &nbsp;&nbsp;$731064897 | &nbsp;&nbsp;$718805081 | &nbsp;&nbsp;&nbsp;&nbsp;12516782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(256966) |
|  |  |  |  |  |  | &nbsp;&nbsp;$12833521 | &nbsp;&nbsp;$(4073139) |

---

------

#### PGIM Absolute Return Bond Fund

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

#### Credit default swap agreements outstanding at July 31, 2025 :

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/<br> Obligation** | &nbsp;&nbsp;&nbsp;**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 Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** |
| Arab Republic of Egypt | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp; $290451 | &nbsp;&nbsp;&nbsp;&nbsp; $52 | &nbsp;&nbsp; $290399 | &nbsp;&nbsp;BARC |
| Dominican Republic | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56632 | &nbsp;&nbsp;BARC |
| Emirate of Abu Dhabi | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(65548) | &nbsp;&nbsp;BARC |
| Federal Republic of Nigeria | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297372 | &nbsp;&nbsp;BARC |
| Federation of Malaysia | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81818) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(81896) | &nbsp;&nbsp;BARC |
| Federative Republic of Brazil | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182821 | &nbsp;&nbsp;BARC |
| Kingdom of Bahrain | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62619 | &nbsp;&nbsp;BARC |
| Kingdom of Morocco | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22430) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22482) | &nbsp;&nbsp;BARC |
| Kingdom of Saudi Arabia | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93720) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93849) | &nbsp;&nbsp;BARC |
| People's Republic of China | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;(246624) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;(246857) | &nbsp;&nbsp;BARC |
| Republic of Argentina | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511821 | &nbsp;&nbsp;BARC |
| Republic of Chile | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;(125984) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;(126139) | &nbsp;&nbsp;BARC |
| Republic of Colombia | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301285 | &nbsp;&nbsp;BARC |
| Republic of Indonesia | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;(107549) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;(107756) | &nbsp;&nbsp;BARC |
| Republic of Ivory Coast | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210761 | &nbsp;&nbsp;BARC |
| Republic of Panama | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62876 | &nbsp;&nbsp;BARC |
| Republic of Peru | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34548) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34626) | &nbsp;&nbsp;BARC |
| Republic of Philippines | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57770) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57848) | &nbsp;&nbsp;BARC |
| Republic of South Africa | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326864 | &nbsp;&nbsp;BARC |
| Republic of Turkey | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664801 | &nbsp;&nbsp;BARC |
| Sultanate of Oman | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22331) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22383) | &nbsp;&nbsp;BARC |
| United Mexican States | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24582 | &nbsp;&nbsp;BARC |
|  |  |  |  | &nbsp;&nbsp;$2136040 | &nbsp;&nbsp;$2591 | &nbsp;&nbsp;$2133449 |  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/<br> Obligation** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)#(3)** | &nbsp;&nbsp;&nbsp;**Implied<br> Credit<br> Spread at<br> July 31,<br> 2025(4)** | &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 Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** |
| CDX.EM.43.V1 | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;100000 | &nbsp;&nbsp;1.536% | &nbsp;&nbsp; $(2190401) | &nbsp;&nbsp; $(30504) | &nbsp;&nbsp; $(2159897) | &nbsp;&nbsp;BARC |

---

\*\* The Fund entered into multiple credit default swap agreements in a packaged trade consisting of two parts. The Fund bought/sold protection on an Emerging Market CDX Index and bought/sold protection on the countries which comprise the index. The upfront premium is attached to the index of the trade for the Emerging Markets CDX package(s). Each swap is priced individually. If any of the component swaps are closed out early, the Index exposure will be reduced by an amount proportionate to the terminated swap(s).

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/<br> Obligation** | &nbsp;&nbsp;&nbsp;**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 | &nbsp;&nbsp;08/02/27 | &nbsp;&nbsp;1.650%(M) | &nbsp;&nbsp;13570 &nbsp;&nbsp;\* | &nbsp;&nbsp; $35247 | &nbsp;&nbsp;$(4321) | &nbsp;&nbsp;$39568 | &nbsp;&nbsp;GSI |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/<br> Obligation** | &nbsp;&nbsp;&nbsp;**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 Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** |
| ADT Security Corp. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp; $(308152) | &nbsp;&nbsp; $(240067) | &nbsp;&nbsp;&nbsp;&nbsp; $(68085) | &nbsp;&nbsp;GSI |
| Antero Resources Corp. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(315721) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(265021) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50700) | &nbsp;&nbsp;GSI |
| Bombardier, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(282225) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(172403) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(109822) | &nbsp;&nbsp;GSI |
| Caesars Entertainment, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216413) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(192752) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23661) | &nbsp;&nbsp;GSI |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

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

#### Credit default swap agreements outstanding at July 31, 2025 (continued):<br>

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/<br> Obligation** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)#(3)** | &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 Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** |
| Chesapeake Energy Corp. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp; $(315794) | &nbsp;&nbsp; $(286706) | &nbsp;&nbsp;&nbsp;&nbsp; $(29088) | &nbsp;&nbsp;GSI |
| Cleveland-Cliffs, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(172873) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(199876) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27003 | &nbsp;&nbsp;GSI |
| EQM Midstream Partners LP | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(322732) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(275030) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47702) | &nbsp;&nbsp;GSI |
| Frontier Communications Holdings LLC | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(332171) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(64339) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(267832) | &nbsp;&nbsp;GSI |
| Genworth Holdings, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(291881) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(249821) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42060) | &nbsp;&nbsp;GSI |
| GFL Environmental, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(323565) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(252842) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70723) | &nbsp;&nbsp;GSI |
| Hilton Domestic Operating Co., Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316185) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(268090) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48095) | &nbsp;&nbsp;GSI |
| HUB International Ltd. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(311960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(216474) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95486) | &nbsp;&nbsp;GSI |
| Israel Electric Corp. Ltd. | &nbsp;&nbsp;09/20/28 | &nbsp;&nbsp;1.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12893) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(58560) | &nbsp;&nbsp;BARC |
| Kingdom of Morocco | &nbsp;&nbsp;12/20/27 | &nbsp;&nbsp;1.000%(Q) |  | &nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(257018) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94565) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(162453) | &nbsp;&nbsp;GSI |
| Kingdom of Morocco | &nbsp;&nbsp;12/20/27 | &nbsp;&nbsp;1.000%(Q) |  | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171346) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171346) | &nbsp;&nbsp;BARC |
| Kingdom of Morocco | &nbsp;&nbsp;12/20/27 | &nbsp;&nbsp;1.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85673) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31522) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54151) | &nbsp;&nbsp;GSI |
| Louisiana-Pacific Corp. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(325904) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(280462) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45442) | &nbsp;&nbsp;GSI |
| Medline Borrower LP | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(315087) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(226723) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88364) | &nbsp;&nbsp;GSI |
| Murphy Oil Corp. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;1.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19391 | &nbsp;&nbsp;GSI |
| Organon & Co. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(169897) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(192752) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22855 | &nbsp;&nbsp;GSI |
| PG&E Corp. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(231588) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(233371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1783 | &nbsp;&nbsp;GSI |
| Post Holdings, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(290201) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(242309) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47892) | &nbsp;&nbsp;GSI |
| Republic of Panama | &nbsp;&nbsp;06/20/28 | &nbsp;&nbsp;1.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;3740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7007) | &nbsp;&nbsp;CITI |
| Republic of Romania | &nbsp;&nbsp;12/20/29 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93762) | &nbsp;&nbsp;BARC |
| Republic of South Africa | &nbsp;&nbsp;06/20/26 | &nbsp;&nbsp;1.000%(Q) |  | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(110111) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163351) | &nbsp;&nbsp;GSI |
| Safeway, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(329793) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(286706) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43087) | &nbsp;&nbsp;GSI |
| Standard Building Solutions, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(320618) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(268090) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52528) | &nbsp;&nbsp;GSI |
| Tenet Healthcare Corp. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(290517) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(245306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45211) | &nbsp;&nbsp;GSI |
| Uber Technologies, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(336156) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(273484) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(62672) | &nbsp;&nbsp;GSI |
| United Rentals North America, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(322815) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(266555) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(56260) | &nbsp;&nbsp;GSI |
| Venture Global LNG, Inc. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(235131) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(187798) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47333) | &nbsp;&nbsp;GSI |
| Weatherford International Ltd. | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;5.000%(Q) |  | &nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(289573) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(261199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28374) | &nbsp;&nbsp;GSI |
|  |  |  |  |  | &nbsp;&nbsp;$(7501453) | &nbsp;&nbsp;$(5491438) | &nbsp;&nbsp;$(2010015) |  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/<br> Obligation** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)#(3)** | &nbsp;&nbsp;&nbsp;**Implied<br> Credit<br> Spread at<br> July 31,<br> 2025(4)** | &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 Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** |
| Bank of America Corp. | &nbsp;&nbsp;12/20/25 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;3030 | &nbsp;&nbsp;0.225% | &nbsp;&nbsp; $12649 | &nbsp;&nbsp; $8418 | &nbsp;&nbsp;&nbsp; $4231 | &nbsp;&nbsp;GSI |
| Bank of Montreal^ | &nbsp;&nbsp;11/20/29 | &nbsp;&nbsp;1.250%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1143) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1143) | &nbsp;&nbsp;GSI |
| Canadian Imperial Bank of Commerce^ | &nbsp;&nbsp;06/20/28 | &nbsp;&nbsp;1.100%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2661 | &nbsp;&nbsp;GSI |
| Citigroup, Inc. | &nbsp;&nbsp;12/20/25 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;3030 | &nbsp;&nbsp;0.248% | &nbsp;&nbsp;&nbsp;&nbsp;12383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3849 | &nbsp;&nbsp;GSI |
| General Motors Co. | &nbsp;&nbsp;06/20/26 | &nbsp;&nbsp;5.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;2230 | &nbsp;&nbsp;0.358% | &nbsp;&nbsp;&nbsp;&nbsp;103729 | &nbsp;&nbsp;&nbsp;&nbsp;76973 | &nbsp;&nbsp;&nbsp;&nbsp;26756 | &nbsp;&nbsp;GSI |
| Halliburton Co. | &nbsp;&nbsp;12/20/26 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;0.294% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7367 | &nbsp;&nbsp;GSI |
| Hellenic Republic | &nbsp;&nbsp;06/20/27 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;0.166% | &nbsp;&nbsp;&nbsp;&nbsp;12328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2458 | &nbsp;&nbsp;BARC |
| Hellenic Republic | &nbsp;&nbsp;12/20/27 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;0.217% | &nbsp;&nbsp;&nbsp;&nbsp;10823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2293 | &nbsp;&nbsp;BARC |
| Kingdom of Norway | &nbsp;&nbsp;12/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;—%(Q) | &nbsp;&nbsp;10000 | &nbsp;&nbsp;0.039% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1524) | &nbsp;&nbsp;&nbsp;&nbsp;(1911) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387 | &nbsp;&nbsp;BARC |
| Lincoln National Corp. | &nbsp;&nbsp;12/20/29 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;5300 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6080 | &nbsp;&nbsp;&nbsp;&nbsp;(92520) | &nbsp;&nbsp;&nbsp;&nbsp;98600 | &nbsp;&nbsp;BARC |
| Morgan Stanley | &nbsp;&nbsp;12/20/25 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;3030 | &nbsp;&nbsp;0.229% | &nbsp;&nbsp;&nbsp;&nbsp;12609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4191 | &nbsp;&nbsp;GSI |
| Pacific Life | &nbsp;&nbsp;08/20/35 | &nbsp;&nbsp;2.500%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;2.634% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7391) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7387) | &nbsp;&nbsp;GSI |
| Petroleos Mexicanos | &nbsp;&nbsp;12/24/25 | &nbsp;&nbsp;3.750%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;2018 | &nbsp;&nbsp;1.946% | &nbsp;&nbsp;&nbsp;&nbsp;16148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;16148 | &nbsp;&nbsp;GSI |
| Petroleos Mexicanos^ | &nbsp;&nbsp;03/23/26 | &nbsp;&nbsp;4.100%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;5800 | &nbsp;&nbsp;\* | &nbsp;&nbsp;&nbsp;&nbsp;72468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;72468 | &nbsp;&nbsp;GSI |
| Petroleos Mexicanos^ | &nbsp;&nbsp;05/07/26 | &nbsp;&nbsp;4.750%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;3984 | &nbsp;&nbsp;\* | &nbsp;&nbsp;&nbsp;&nbsp;89291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;89291 | &nbsp;&nbsp;GSI |
| Republic of Panama | &nbsp;&nbsp;06/20/28 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;3740 | &nbsp;&nbsp;1.213% | &nbsp;&nbsp;&nbsp;&nbsp;(17257) | &nbsp;&nbsp;&nbsp;&nbsp;(74089) | &nbsp;&nbsp;&nbsp;&nbsp;56832 | &nbsp;&nbsp;CITI |
| Republic of Serbia | &nbsp;&nbsp;06/20/29 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;1.334% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5597) | &nbsp;&nbsp;&nbsp;&nbsp;(8264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2667 | &nbsp;&nbsp;BARC |
| Simon Property Group LP | &nbsp;&nbsp;06/20/26 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;1980 | &nbsp;&nbsp;0.181% | &nbsp;&nbsp;&nbsp;&nbsp;16530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4071 | &nbsp;&nbsp;&nbsp;&nbsp;12459 | &nbsp;&nbsp;GSI |
| SoftBank Group Corp. | &nbsp;&nbsp;06/20/26 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;2915 | &nbsp;&nbsp;1.025% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2767 | &nbsp;&nbsp;&nbsp;&nbsp;(12728) | &nbsp;&nbsp;&nbsp;&nbsp;15495 | &nbsp;&nbsp;GSI |

---

------

#### PGIM Absolute Return Bond Fund

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

#### Credit default swap agreements outstanding at July 31, 2025 (continued):<br>

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/<br> Obligation** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)#(3)** | &nbsp;&nbsp;&nbsp;**Implied<br> Credit<br> Spread at<br> July 31,<br> 2025(4)** | &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 Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;06/20/26 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;1790 | &nbsp;&nbsp;0.232% | &nbsp;&nbsp; $14151 | &nbsp;&nbsp; $11424 | &nbsp;&nbsp;&nbsp; $2727 | &nbsp;&nbsp;GSI |
| Verizon Communications, Inc. | &nbsp;&nbsp;06/20/26 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;0.261% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2676 | &nbsp;&nbsp;GSI |
|  |  |  |  |  | &nbsp;&nbsp;$366692 | &nbsp;&nbsp;$(48334) | &nbsp;&nbsp;$415026 |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity/<br> Obligation** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)#(3)** | &nbsp;&nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;&nbsp;**Value at<br> July 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** |
| CDX.NA.HY.44.V1 | &nbsp;&nbsp;06/20/30 | &nbsp;&nbsp;5.000%(Q) | &nbsp;&nbsp;6000 | &nbsp;&nbsp;$(199962) | &nbsp;&nbsp;$(468336) | &nbsp;&nbsp;$(268374) |

---

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 should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms, when compared to the notional amount of the swap, represents a deterioration of the referenced entity's credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency swap agreement outstanding at July 31, 2025:** | **Currency swap agreement outstanding at July 31, 2025:** | **Currency swap agreement outstanding at July 31, 2025:** | **Currency swap agreement outstanding at July 31, 2025:** | **Currency swap agreement outstanding at July 31, 2025:** | **Currency swap agreement outstanding at July 31, 2025:** | **Currency swap agreement outstanding at July 31, 2025:** | **Currency swap agreement outstanding at July 31, 2025:** | **Currency swap agreement outstanding at July 31, 2025:** | **Currency swap agreement outstanding at July 31, 2025:** |
| **Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Fund<br> Receives** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Fund<br> Pays** | &nbsp;&nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fair<br> Value** | &nbsp;&nbsp;&nbsp;**Upfront<br> Premiums<br> Paid<br> (Received)** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** | **OTC Currency Swap Agreement:** |
| 4500 | &nbsp;&nbsp;3.100%(A) | &nbsp;&nbsp;EUR | &nbsp;&nbsp;4883 | &nbsp;&nbsp;1 Day SOFR(A)/ 4.390% | &nbsp;&nbsp;JPM | &nbsp;&nbsp;09/27/29 | &nbsp;&nbsp; $(311015) | &nbsp;&nbsp; $— | &nbsp;&nbsp;$(311015) |

---

PGIM Absolute Return Bond Fund

------

#### PGIM Absolute Return Bond Fund

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

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br> Amount<br> (000)#** | **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> July 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:** | **Centrally Cleared Interest Rate Swap Agreements:** |
| GBP | 2090 | &nbsp;&nbsp;05/08/26 | &nbsp;&nbsp;1.000%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.217% | &nbsp;&nbsp;&nbsp; $(28953) | &nbsp;&nbsp;&nbsp;&nbsp; $79838 | &nbsp;&nbsp;&nbsp; $108791 |
| GBP | 15780 | &nbsp;&nbsp;05/08/27 | &nbsp;&nbsp;1.050%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.217% | &nbsp;&nbsp;&nbsp;&nbsp;1652770 | &nbsp;&nbsp;&nbsp;&nbsp;1082358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(570412) |
| GBP | 15090 | &nbsp;&nbsp;05/08/30 | &nbsp;&nbsp;3.950%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.217% | &nbsp;&nbsp;&nbsp;&nbsp;(212222) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(180813) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31409 |
| GBP | 1340 | &nbsp;&nbsp;05/08/31 | &nbsp;&nbsp;1.150%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.217% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30882) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280934 |
|  | 24570 | &nbsp;&nbsp;08/31/25 | &nbsp;&nbsp;4.805%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(53600) |
|  | 45000 | &nbsp;&nbsp;05/13/26 | &nbsp;&nbsp;4.735%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(222734) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(222734) |
|  | 12090 | &nbsp;&nbsp;09/25/26 | &nbsp;&nbsp;4.699%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96626) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98862) |
|  | 16000 | &nbsp;&nbsp;05/11/27 | &nbsp;&nbsp;0.700%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;1776548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;974596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(801952) |
|  | 10000 | &nbsp;&nbsp;12/15/27 | &nbsp;&nbsp;3.709%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33555 |
|  | 91780 | &nbsp;&nbsp;01/28/29 | &nbsp;&nbsp;4.110%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(1449376) | &nbsp;&nbsp;&nbsp;&nbsp;(1449376) |
|  | 41330 | &nbsp;&nbsp;12/20/44 | &nbsp;&nbsp;3.995%(A) | &nbsp;&nbsp;1 Day SOFR(2)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(645461) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(645461) |
|  | 7820 | &nbsp;&nbsp;12/16/49 | &nbsp;&nbsp;3.805%(A) | &nbsp;&nbsp;1 Day SOFR(2)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55117) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(375411) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(320294) |
|  | 24771 | &nbsp;&nbsp;11/15/52 | &nbsp;&nbsp;3.927%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617432 |
|  | 3375 | &nbsp;&nbsp;05/11/54 | &nbsp;&nbsp;1.350%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;1540576 | &nbsp;&nbsp;&nbsp;&nbsp;1572133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31557 |
|  | 42715 | &nbsp;&nbsp;12/14/54 | &nbsp;&nbsp;3.136%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624695 | &nbsp;&nbsp;&nbsp;&nbsp;1163719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539024 |
|  | 6930 | &nbsp;&nbsp;12/16/54 | &nbsp;&nbsp;3.719%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365800 |
|  | 31500 | &nbsp;&nbsp;12/20/54 | &nbsp;&nbsp;3.825%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;1305226 | &nbsp;&nbsp;&nbsp;&nbsp;1305226 |
|  | 13780 | &nbsp;&nbsp;01/15/55 | &nbsp;&nbsp;4.130%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.390% | &nbsp;&nbsp;&nbsp;&nbsp;(252471) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(181078) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71393 |
|  |  |  |  |  | &nbsp;&nbsp;$5070897 | &nbsp;&nbsp;$4293327 | &nbsp;&nbsp;$(777570) |

---

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

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swap agreements outstanding at July 31, 2025:** | **Total return swap agreements outstanding at July 31, 2025:** | **Total return swap agreements outstanding at July 31, 2025:** | **Total return swap agreements outstanding at July 31, 2025:** | **Total return swap agreements outstanding at July 31, 2025:** | **Total return swap agreements outstanding at July 31, 2025:** | **Total return swap agreements outstanding at July 31, 2025:** | **Total return swap agreements outstanding at July 31, 2025:** |
| **Reference Entity** | &nbsp;&nbsp;&nbsp;**Financing<br> Rate** | &nbsp;&nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Long (Short)<br> Notional<br> Amount<br> (000)#(1)** | &nbsp;&nbsp;&nbsp;**Fair<br> Value** | &nbsp;&nbsp;&nbsp;**Upfront<br> Premiums<br> Paid<br> (Received)** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)(2)** |
| **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** |
| iBoxx US Dollar Liquid Investment Grade Index(T) | &nbsp;&nbsp;1 Day SOFR(Q)/ 4.390% | &nbsp;&nbsp;JPM | &nbsp;&nbsp;12/22/25 | &nbsp;&nbsp;(90630) | &nbsp;&nbsp; $(1742109) | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1742109) |
| Total Return Benchmark Bond Index(T)†† | &nbsp;&nbsp;1 Day SOFR -54bps(T)/ 3.850% | &nbsp;&nbsp;JPM | &nbsp;&nbsp;09/19/25 | &nbsp;&nbsp;(53916) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5111) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5111) |
| Total Return Benchmark Bond Index(T) | &nbsp;&nbsp;1 Day USOIS -40bps(T)/ 3.930% | &nbsp;&nbsp;GSI | &nbsp;&nbsp;09/19/25 | &nbsp;&nbsp;(2944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15504 | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15504 |
|  |  |  |  |  | &nbsp;&nbsp;$(1731716) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(1731716) |

---

---

| | |
|:---|:---|
| (1) | On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate. |
| (2) | Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation). |
| †† | See the table below for the swap constituents. To the extent that any swap is composed of greater than 50 constituents, the Fund is only required to disclose the top 50. |

---

The following table represents the top 50 individual positions and related values of underlying securities of Total Return Benchmark Bond Index total return swap with JPM, as of July 31, 2025, termination date 09/19/2025:

#### Corporate Bond :

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market<br> Value** | **% of Total<br> Index Value** |
| Sysco Corp. | 3625764 | &nbsp;&nbsp;&nbsp; $4010675 | 1.58% |
| Morgan Stanley | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3654173 | 1.44% |
| Northrop Grumman Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3451967 | 1.36% |
| United Parcel Service, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3450468 | 1.36% |
| Fox Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3394842 | 1.34% |
| Telefonica Emisiones, S.A.U. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3393725 | 1.34% |
| Wells Fargo & Co. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340139 | 1.32% |
| Keurig Dr Pepper, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3282827 | 1.29% |
| The Walt Disney Co. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3277516 | 1.29% |
| Conagra Brands, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3242681 | 1.28% |
| FedEx Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3228995 | 1.27% |
| HCA, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3226220 | 1.27% |

---

------

#### PGIM Absolute Return Bond Fund

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

#### Corporate Bond (continued):<br>

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market<br> Value** | **% of Total<br> Index Value** |
| Walgreens Boots Alliance, Inc. | 3625764 | &nbsp;&nbsp;&nbsp; $3161928 | 1.25% |
| Cigna Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3156858 | 1.24% |
| Thermo Fisher Scientific, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3050424 | 1.20% |
| ExxonMobil Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048671 | 1.20% |
| Bristol-Myers Squibb Co. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3040573 | 1.20% |
| T-Mobile USA, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3026985 | 1.19% |
| Johnson & Johnson | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2943153 | 1.16% |
| Eli Lilly and Co. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2939111 | 1.16% |
| Intel Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2930782 | 1.15% |
| Bank of America Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929134 | 1.15% |
| McDonald's Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2925343 | 1.15% |
| Fiserv, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2908012 | 1.15% |
| Vodafone Group PLC | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2899886 | 1.14% |
| Progressive Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2871295 | 1.13% |
| Mastercard, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2864156 | 1.13% |
| Enterprise Products Operating LLC | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2862133 | 1.13% |
| Paramount Group, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2858304 | 1.13% |
| Deere & Co. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2834434 | 1.12% |
| Union Electric Co. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2791351 | 1.10% |
| Dollar General Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2782840 | 1.10% |
| Equinor ASA | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2780807 | 1.10% |
| NVIDIA Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2756798 | 1.09% |
| Global Payments, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2730173 | 1.08% |
| Becton, Dickinson & Co. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2705695 | 1.07% |
| Rogers Communications, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690347 | 1.06% |
| Oracle Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2681828 | 1.06% |
| Humana, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2658133 | 1.05% |
| B.A.T. Capital Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2649216 | 1.04% |
| eBay, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2642534 | 1.04% |
| Verizon Communications, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2625852 | 1.03% |
| Altria Group, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2606838 | 1.03% |
| Entergy Corp. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2603640 | 1.03% |
| Nike, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2597587 | 1.02% |
| Suncor Energy, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2579563 | 1.02% |
| Caterpillar, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559258 | 1.01% |
| Brookfield Finance, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2553350 | 1.01% |
| Kinder Morgan, Inc. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2540325 | 1.00% |
| Southern California Edison Co. | 3625764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2532961 | 1.00% |
|  |  | $147274506 |  |

---

*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).*

PGIM Absolute Return Bond Fund

## 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 9

- **b. Investment Company Act file number:** 811-09101

- **c. CIK number of Registrant:** 0001070287

- **d. LEI of Registrant:** 5493006TC8ECBK1GPV34

- **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 Absolute Return Bond Fund

- **b. EDGAR series identifier (if any):** S000031707

- **c. LEI of Series:** EBKSE2F2Z4D82NLOW668

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $3862700251.58

**Total Liabilities:** $363934376.78

**Net Assets:** $3498765874.80

**Delayed Delivery Securities:** $59475785.48

**Stand-by Commitments:** $204402971.79

**Cash Not Reported:** $16552226.43

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -102.40122000 | **1-Year:** 69576.83037000 | **5-Year:** 529482.43622000 | **10-Year:** 102080.86834000 | **30-Year:** 3624.25009000

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

- **3-Month:** 1841.58689000 | **1-Year:** 59479.32151000 | **5-Year:** 96909.90486000 | **10-Year:** 16242.86025000 | **30-Year:** 126.98095000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000098668 | 0.65%                | 0.54%                | 0.54%                |
| Class ID C000098666 | 0.63%                | 0.63%                | 0.52%                |
| Class ID C000098669 | 0.75%                | 0.53%                | 0.53%                |
| Class ID C000098667 | 0.56%                | 0.45%                | 0.56%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1454001.74             | $-4388867.99                               |
| Month 2  | $-899839.04              | $36656100.25                               |
| Month 3  | $306462.32               | $-22582855.77                              |

**Designated Index Information**

- **Index Name:** N/A

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CASSA DEPOSITI E PRESTIT                          | Cassa Depositi e Prestiti SpA                                                    | CUSIP: 147918AB2<br>LEI: 81560029E2CE4D14F425 | Long             | DBT              | NUSS              | IT        |    2415000 | PA      | $2432083.47   | 0.07%             | 2026-05-05      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                               | Bangkok Bank PCL/Hong Kong                                                       | CUSIP: 059895AV4<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |     945000 | PA      | $841333.50    | 0.02%             | 2036-09-23      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                             | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     438000 | PA      | $472975.72    | 0.01%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                       | McAfee Corp                                                                      | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |     675000 | PA      | $626464.15    | 0.02%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS MXN PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    3846000 | NC      | $239.91       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1220000 | PA      | $1120584.17   | 0.03%             | 2029-01-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: —       |
| Diamond Sports Net, LLC                           | DIAMOND SPORTS NET LLC                                                           | CUSIP: 25277EAB8<br>LEI: 549300MPO5H6LGX4RJ82 | Long             | LON              | CORP              | US        |     195586 | PA      | $170160.01    | 0.00%             | 2028-01-02      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | CDS REPUBLIC OF PANAMA                                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              | CORP              | US        |          1 | NC      | $17256.48     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                          | Penske Truck Leasing Co Lp / PTL Finance Corp                                    | CUSIP: 709599BZ6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    3440000 | PA      | $3517121.19   | 0.10%             | 2029-03-30      | Fixed         | 5.35%                 | No            |                  2 | On Loan: —       |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWBZ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     454847 | PA      | $375254.06    | 0.01%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                          | Madison Park Funding LIX Ltd                                                     | CUSIP: 55822EAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   10000000 | PA      | $10048185.00  | 0.29%             | 2037-04-18      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                              | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    1362000 | PA      | $1542171.32   | 0.04%             | 2028-02-21      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                                  | Boyd Gaming Corp                                                                 | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |     545000 | PA      | $519220.74    | 0.01%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2025-2 LLC                                                                  | CUSIP: 69382HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3341250 | PA      | $3345226.59   | 0.10%             | 2030-05-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                          | Capital One Financial Corp                                                       | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     935000 | PA      | $1052426.22   | 0.03%             | 2031-10-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179WZB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    2355882 | PA      | $2124728.36   | 0.06%             | 2052-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                         | ONEOK Inc                                                                        | CUSIP: 682680BU6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     125000 | PA      | $96210.12     | 0.00%             | 2042-12-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    1000000 | PA      | $999543.96    | 0.03%             | 2031-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| NCL CORPORATION LTD                               | NCL Corp Ltd                                                                     | CUSIP: 62886HBN0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     550000 | PA      | $576658.50    | 0.02%             | 2029-01-15      | Fixed         | 8.12%                 | Yes           |                  2 | On Loan: No      |
| SPRINT LLC                                        | Sprint LLC                                                                       | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |     315000 | PA      | $317157.53    | 0.01%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | TWD CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |    4236000 | NC      | $3.60         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS CANADIAN IMPERIAL BANK OF COMMERCE                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $2661.31      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                            | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     450000 | PA      | $457447.42    | 0.01%             | 2028-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Accredited Mortgage Loan Trust                    | Accredited Mortgage Loan Trust 2004-3                                            | CUSIP: 004375BL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     436906 | PA      | $432190.90    | 0.01%             | 2034-10-25      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                     | DISH DBS Corp                                                                    | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     550000 | PA      | $488827.84    | 0.01%             | 2026-07-01      | Fixed         | 7.75%                 | 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        |      89881 | PA      | $90752.70     | 0.00%             | 2033-06-15      | Fixed         | 10.07%                | No            |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    4500000 | PA      | $5588010.53   | 0.16%             | 2029-09-27      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | EUR CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   -7385000 | NC      | $-21286.44    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                    | Carlyle Euro CLO 2019-1 DAC                                                      | CUSIP: 000000000<br>LEI: 635400YFJCERZ9QJKR15 | Long             | ABS-CBDO         | CORP              | IE        |    6500000 | PA      | $7098721.11   | 0.20%             | 2032-03-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                         | Ball Corp                                                                        | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    1000000 | PA      | $898547.70    | 0.03%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: —       |
| ICG Euro CLO                                      | ICG Euro CLO 2023-2 DAC                                                          | CUSIP: 000000000<br>LEI: 5493000GNZH2JWC7EQ58 | Long             | ABS-CBDO         | CORP              | IE        |    5000000 | PA      | $5726333.90   | 0.16%             | 2038-01-26      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EDE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   15850187 | PA      | $14185695.50  | 0.41%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                            | CUSIP: 527298CB7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    2975000 | PA      | $2796886.57   | 0.08%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                | Banco Santander SA                                                               | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    3400000 | PA      | $3447534.38   | 0.10%             | 2028-03-14      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | USD CALL VERSUS JPY PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |    4248000 | NC      | $1.67         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Invesco Euro CLO                                  | Invesco Euro CLO VI DAC                                                          | CUSIP: 000000000<br>LEI: 549300YQUO4XFJGG1T54 | Long             | ABS-CBDO         | CORP              | IE        |    9250000 | PA      | $10545454.17  | 0.30%             | 2034-07-15      | Floating      | 3.68%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWC84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2540535 | PA      | $2178600.90   | 0.06%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    1220000 | PA      | $1237742.68   | 0.04%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                           | MPLX LP                                                                          | CUSIP: 55336VAL4<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |     145000 | PA      | $125856.67    | 0.00%             | 2047-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ASHLAND INC                                       | Ashland Inc                                                                      | CUSIP: 044209AM6<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |    4100000 | PA      | $4249998.66   | 0.12%             | 2043-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF GREECE                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $10822.89     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                             | Truist Financial Corp                                                            | CUSIP: 89788MAQ5<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    1005000 | PA      | $1084393.66   | 0.03%             | 2029-10-30      | Fixed         | 7.16%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                           | Sasol Financing USA LLC                                                          | CUSIP: 80386WAC9<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |     350000 | PA      | $345450.00    | 0.01%             | 2026-09-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                      | JELD-WEN Inc                                                                     | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    2400000 | PA      | $2275737.78   | 0.07%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| OCS Group Investments Limited                     | OCS GROUP HOLDINGS LTD                                                           | CUSIP: 000000000<br>LEI: 54930002RKY3Y4LURL90 | Long             | LON              | CORP              | GB        |     975000 | PA      | $1283609.89   | 0.04%             | 2031-11-27      | Floating      | 9.96%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 817477AH5<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     915000 | PA      | $968205.33    | 0.03%             | 2033-09-26      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397G49<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    2310000 | PA      | $2316605.07   | 0.07%             | 2029-11-07      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36180AAF0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    5416400 | PA      | $5405956.35   | 0.15%             | 2054-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT NATIONAL MORTGAGE A                    | GINNIE MAE                                                                       | CUSIP: 21H062693<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    2500000 | PA      | $2562000.28   | 0.07%             | 2055-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS MURPHY OIL CORP                                                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $25932.86     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                               | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |    1200000 | PA      | $1391056.61   | 0.04%             | 2032-07-08      | Fixed         | 5.75%                 | 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        |    3500000 | PA      | $3530546.25   | 0.10%             | 2055-02-25      | Variable      | 6.08%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179VDQ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1774618 | PA      | $1653044.91   | 0.05%             | 2050-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EM23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1152482 | PA      | $1173937.03   | 0.03%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF ROMANIA                                                          | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $59351.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                | Expand Energy Corp                                                               | CUSIP: 845467AR0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     725000 | PA      | $725915.56    | 0.02%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS PACIFIC LIFE GLOBAL FUNDING II                                               | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $-7390.29     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                               | United Airlines Inc                                                              | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     170000 | PA      | $165919.83    | 0.00%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                            | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |     725000 | PA      | $742227.27    | 0.02%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                            | Mexico City Airport Trust                                                        | CUSIP: 59284MAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    6995000 | PA      | $5859571.60   | 0.17%             | 2047-07-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | EUR CALL VERSUS PLN PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   -3633000 | NC      | $-36312.17    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Affirm Master Trust                               | Affirm Master Trust                                                              | CUSIP: 00833BAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    5000000 | PA      | $5010645.00   | 0.14%             | 2033-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF GREECE                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $12327.72     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INDIAN RAILWAY FINANCE                            | Indian Railway Finance Corp Ltd                                                  | CUSIP: 45434L2H6<br>LEI: 335800F2JHSOGXQEBY56 | Long             | DBT              | CORP              | IN        |     360000 | PA      | $332906.40    | 0.01%             | 2032-01-21      | Fixed         | 3.57%                 | No            |                  2 | On Loan: —       |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CJP7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  113060000 | PA      | $113519306.25 | 3.24%             | 2026-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| KONTOOR BRANDS INC                                | Kontoor Brands Inc                                                               | CUSIP: 50050NAA1<br>LEI: 549300M0CPXV65RFF271 | Long             | DBT              | CORP              | US        |    1125000 | PA      | $1046473.78   | 0.03%             | 2029-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | EUR CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   12714000 | NC      | $5640.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NMLT Trust                                        | NLT 2025-INV1 Trust                                                              | CUSIP: 62916TAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     319000 | PA      | $302759.49    | 0.01%             | 2070-02-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| NEWGENERATIONGASGATHERINGLLC                      | NEWGENERATIONGASGATHERINGLLC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     351351 | PA      | $346080.74    | 0.01%             | 2029-09-30      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                          | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      75000 | PA      | $70750.72     | 0.00%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                        | NLT 2025-INV1 Trust                                                              | CUSIP: 62916TAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1344808 | PA      | $1344519.84   | 0.04%             | 2070-02-25      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWDU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    5843675 | PA      | $5400710.60   | 0.15%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                             | Civitas Resources Inc                                                            | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |     125000 | PA      | $128693.62    | 0.00%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                    | PRET 2025-NPL1 Trust                                                             | CUSIP: 74143VAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    5328989 | PA      | $5333467.13   | 0.15%             | 2055-02-25      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CR FUND                        | BLACKSTONE PRIVATE CR FUND                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     950000 | PA      | $946116.40    | 0.03%             | 2027-05-03      | Fixed         | 5.61%                 | No            |                  3 | On Loan: No      |
| BARCLAYS PLC                                      | HUF/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-46564.73    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                             | Antero Resources Corp                                                            | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |    1400000 | PA      | $1390788.41   | 0.04%             | 2030-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS - UNFUNDED                     | NEW GENERATION GAS - UNFUNDED                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     175676 | PA      | $173040.52    | 0.00%             | 2029-09-30      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| UNITED AIRLINES INC                               | United Airlines Inc                                                              | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |     645000 | PA      | $641099.58    | 0.02%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                    | BBCMS 2018-CHRS Mortgage Trust                                                   | CUSIP: 05491VAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2650000 | PA      | $2427782.13   | 0.07%             | 2038-08-05      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EGK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4698472 | PA      | $4464973.75   | 0.13%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                 | Elevation CLO 2023-17 Ltd                                                        | CUSIP: 28624DAC2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   10000000 | PA      | $10059908.00  | 0.29%             | 2036-10-20      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                              | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAA0<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    2560000 | PA      | $2580681.43   | 0.07%             | 2027-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                   | CUSIP: 61747YFH3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    2570000 | PA      | $2711873.81   | 0.08%             | 2029-11-01      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                   | Nissan Motor Co Ltd                                                              | CUSIP: 654744AK7<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    7700000 | PA      | $8943829.50   | 0.26%             | 2033-07-17      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS SULTANATE OF OMAN                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-22331.57    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 912810SY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   20165000 | PA      | $14518800.00  | 0.41%             | 2041-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | TRS TRSBENCH20 INDEX                                                             | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |          1 | NC      | $15503.67     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NGPL PIPECO LLC                                   | NGPL PipeCo LLC                                                                  | CUSIP: 62912XAF1<br>LEI: 549300K3NT1HSQFEM073 | Long             | DBT              | CORP              | US        |     500000 | PA      | $497190.96    | 0.01%             | 2027-08-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Rockford Tower Europe CLO                         | Rockford Tower Europe Clo 2025-1 DAC                                             | CUSIP: 000000000<br>LEI: 635400NARJYDXJRPGF02 | Long             | ABS-CBDO         | CORP              | IE        |    8335000 | PA      | $9493719.05   | 0.27%             | 2037-10-25      | Floating      | 3.43%                 | No            |                  2 | On Loan: No      |
| Santander Drive Auto Receivabl                    | Santander Drive Auto Receivables Trust 2023-2                                    | CUSIP: 80287JAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1250000 | PA      | $1262195.63   | 0.04%             | 2030-12-16      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                          | Petrobras Global Finance BV                                                      | CUSIP: 000000000<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |     300000 | PA      | $386141.55    | 0.01%             | 2034-01-16      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3138X1AJ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     343452 | PA      | $306665.17    | 0.01%             | 2043-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA REVENUES                       | University of California                                                         | CUSIP: 91412GXY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     675000 | PA      | $591738.24    | 0.02%             | 2045-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ICG Euro CLO                                      | ICG Euro CLO 2023-2 DAC                                                          | CUSIP: 000000000<br>LEI: 5493000GNZH2JWC7EQ58 | Long             | ABS-CBDO         | CORP              | IE        |    6000000 | PA      | $6857897.38   | 0.20%             | 2038-01-26      | Floating      | 3.68%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                              | CUSIP: 912834PT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     430000 | PA      | $152617.66    | 0.00%             | 2045-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                          | Univision Communications Inc                                                     | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    2185000 | PA      | $2245284.96   | 0.06%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | U.S. TREASURY BOND                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        576 | NC      | $1135244.48   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | INR CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    6142000 | NC      | $111.82       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                      | Ecopetrol SA                                                                     | CUSIP: 279158AT6<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    4495000 | PA      | $4825157.75   | 0.14%             | 2029-01-19      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS GOVERNMENT OF MALAYSIA                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-81818.03    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | CSWAP EUR VS USD                                                                 | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-311024.95   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    4259000 | NC      | $2207.53      | 0.00%             |  |  |  | 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        |    8005289 | PA      | $8085569.70   | 0.23%             | 2027-03-29      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CCP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   60605000 | PA      | $58512233.59  | 1.67%             | 2026-07-31      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                   | CUSIP: 10554TAD7<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |     629000 | PA      | $442501.50    | 0.01%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                            | CUSIP: 25714PEP9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    1915000 | PA      | $1912128.27   | 0.05%             | 2029-02-22      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                           | American Electric Power Co Inc                                                   | CUSIP: 02557TAD1<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |    2075000 | PA      | $2074453.21   | 0.06%             | 2025-08-15      | Fixed         | 5.70%                 | 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        |      -3900 | NC      | $-777911.83   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                            | CUSIP: 071734AL1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     275000 | PA      | $166375.00    | 0.00%             | 2031-02-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| MVM ENERGETIKA ZRT                                | MVM Energetika Zrt                                                               | CUSIP: 000000000<br>LEI: 529900ELI5AQ9F74PF85 | Long             | DBT              | CORP              | HU        |    1200000 | PA      | $1236000.00   | 0.04%             | 2031-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Radnor Re LTD                                     | Radnor RE 2021-2 Ltd                                                             | CUSIP: 75049GAB5<br>LEI: 254900JO0CMUL2VM8206 | Long             | ABS-MBS          | CORP              | BM        |     473996 | PA      | $480989.69    | 0.01%             | 2031-11-25      | Floating      | 8.05%                 | Yes           |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | CNH CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | DE        |   50667000 | NC      | $25591.68     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                    | BBCMS Mortgage Trust 2024-5C29                                                   | CUSIP: 05555PAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   28469000 | PA      | $2778201.46   | 0.08%             | 2057-09-15      | Variable      | 2.67%                 | No            |                  2 | On Loan: No      |
| Doncasters US Finance LLC                         | DONCASTERS US FINANCE LLC                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     798000 | PA      | $805980.00    | 0.02%             | 2030-04-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| KINGDOM OF MOROCCO                                | Morocco Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |   30000000 | PA      | $28327500.00  | 0.81%             | 2027-12-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3140XMD78<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    9276770 | PA      | $8868243.80   | 0.25%             | 2048-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                        | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    9630000 | PA      | $9475920.00   | 0.27%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418DXL1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1544402 | PA      | $1273076.84   | 0.04%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                | THB/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |          1 | NC      | $8439.68      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | TWD/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |          1 | NC      | $113150.96    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sunrun Issuer                                     | Sunrun Bacchus Issuer 2025-1 LLC                                                 | CUSIP: 86771PAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    3251007 | PA      | $3242953.03   | 0.09%             | 2060-04-30      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                         | Boeing Co/The                                                                    | CUSIP: 097023CP8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    5710000 | PA      | $4820129.59   | 0.14%             | 2035-02-01      | Fixed         | 3.25%                 | 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        |    9824745 | PA      | $9248843.19   | 0.26%             | 2064-01-25      | Variable      | 4.04%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | IDR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |          1 | NC      | $52097.04     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | THREE-MONTH SOFR                                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       1999 | NC      | $-225333.17   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | TRS IBOXIG INDEX                                                                 | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |          1 | NC      | $-1742108.72  | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS GENWORTH HOLDINGS INC                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-291880.68   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | TWD CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |    4236000 | NC      | $3.60         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CELLNEX FINANCE CO SA                             | Cellnex Finance Co SA                                                            | CUSIP: 000000000<br>LEI: 549300OUROMFTRFA7T23 | Long             | DBT              | CORP              | ES        |    1100000 | PA      | $1128294.17   | 0.03%             | 2033-02-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Radnor Re LTD                                     | Radnor RE 2023-1 Ltd                                                             | CUSIP: 75050KAA4<br>LEI: 254900P3K895250PCC81 | Long             | ABS-MBS          | CORP              | BM        |     374158 | PA      | $375863.25    | 0.01%             | 2033-07-25      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $617431.40    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Harvest CLO                                       | Harvest CLO XXXII DAC                                                            | CUSIP: 000000000<br>LEI: 635400AU6OVIWCGACH33 | Long             | ABS-CBDO         | CORP              | IE        |    7000000 | PA      | $8045302.97   | 0.23%             | 2037-07-25      | Floating      | 3.39%                 | 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        |    2350000 | PA      | $2221956.73   | 0.06%             | 2036-03-15      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWEL3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1983413 | PA      | $1936948.91   | 0.06%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                   | CDS CDX.NA.HY.44.V1                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |          1 | NC      | $-468335.79   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Barings Euro CLO                                  | Barings Euro CLO 2020-1 DAC                                                      | CUSIP: 000000000<br>LEI: 5493007R4SFFXIAHHB67 | Long             | ABS-CBDO         | CORP              | IE        |    3000000 | PA      | $3421654.37   | 0.10%             | 2034-10-21      | Floating      | 3.00%                 | 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        |   29980658 | PA      | $30333805.75  | 0.87%             | 2033-05-25      | Floating      | 7.85%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3140XGZY8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     954168 | PA      | $887087.57    | 0.03%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                        | Carvana Co                                                                       | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    1450000 | PA      | $1724254.42   | 0.05%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| TALKTALK TELECOM GROUP                            | TalkTalk Telecom Group Ltd                                                       | CUSIP: 000000000<br>LEI: 213800WF53FVDRRHRF44 | Long             | DBT              | CORP              | GB        |    3206282 | PA      | $423437.68    | 0.01%             | 2028-03-01      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                   | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    2325000 | PA      | $2171301.60   | 0.06%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                   | CUSIP: 61747YED3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    2865000 | PA      | $2483080.49   | 0.07%             | 2032-07-21      | Fixed         | 2.24%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS BANK OF AMERICA CORP                                                         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $12648.88     | 0.00%             |  |  |  | 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        |    5260866 | PA      | $5265798.46   | 0.15%             | 2038-04-15      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                           | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     250000 | PA      | $170799.92    | 0.00%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                            | CUSIP: 527298CD3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    2625000 | PA      | $2361942.08   | 0.07%             | 2030-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                            | CUSIP: 25714PDT2<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    1570000 | PA      | $1583345.00   | 0.05%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                            | Mexico City Airport Trust                                                        | CUSIP: 59284MAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     415000 | PA      | $348892.58    | 0.01%             | 2046-10-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | JPY CALL VERSUS EUR PUT                                                          | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              | CORP              | GB        |   -5447000 | NC      | $-45161.23    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                  | LPL Holdings Inc                                                                 | CUSIP: 50212YAJ3<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    1605000 | PA      | $1631323.55   | 0.05%             | 2027-05-20      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                 | Newell Brands Inc                                                                | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     185000 | PA      | $176986.70    | 0.01%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF CHILE                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-125984.12   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                          | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     925000 | PA      | $945011.25    | 0.03%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                    | OneMain Financial Issuance Trust 2023-1                                          | CUSIP: 68269JAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    4800000 | PA      | $4912435.20   | 0.14%             | 2038-06-14      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     700000 | PA      | $703161.09    | 0.02%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                          | Organon & Co / Organon Foreign Debt Co-Issuer BV                                 | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     450000 | PA      | $389244.70    | 0.01%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: —       |
| BOMBARDIER INC                                    | Bombardier Inc                                                                   | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     350000 | PA      | $363352.50    | 0.01%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS KINGDOM OF MOROCCO                                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $-257018.50   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                              | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     514000 | PA      | $540877.06    | 0.02%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| INDO ASAHAN/MINERAL IND                           | Indonesia Asahan Aluminium PT / Mineral Industri Indonesia Persero PT            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | ID        |    1650000 | PA      | $1751640.00   | 0.05%             | 2028-11-15      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                         | BPR Trust 2023-BRK2                                                              | CUSIP: 05610WAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4300000 | PA      | $4495499.93   | 0.13%             | 2038-10-05      | Variable      | 8.34%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EF21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4262022 | PA      | $4050219.93   | 0.12%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | KRW CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   11836000 | NC      | $23488.82     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CALPINE CORP                                      | Calpine Corp                                                                     | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    1500000 | PA      | $1474363.01   | 0.04%             | 2029-02-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| THE TORONTO-DOMINION BANK                         | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | N/A              | DFE              | CORP              | US        |          1 | NC      | $1840.32      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Elmwood CLO 40 Ltd                                | Elmwood CLO 40 Ltd                                                               | CUSIP: 29004FAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   17500000 | PA      | $17526250.00  | 0.50%             | 2038-03-22      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179W7M4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    5237209 | PA      | $4860897.42   | 0.14%             | 2052-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                          | Virgin Media Secured Finance PLC                                                 | CUSIP: 000000000<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    2700000 | PA      | $3272649.94   | 0.09%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Impr                    | Goodleap Sustainable Home Solutions Trust 2023-3                                 | CUSIP: 38237CAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     413545 | PA      | $402823.62    | 0.01%             | 2055-07-20      | Fixed         | 6.50%                 | 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        |   11444087 | PA      | $1144.41      | 0.00%             | 2064-01-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                    | BBCMS 2020-BID Mortgage Trust                                                    | CUSIP: 05493BAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5745000 | PA      | $5743204.69   | 0.16%             | 2037-10-15      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                          | Madison Park Funding XXXIII Ltd                                                  | CUSIP: 55819JAN3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    5464501 | PA      | $5471058.58   | 0.16%             | 2032-10-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                    | PRET 2025-NPL5 LLC                                                               | CUSIP: 74143LAA4<br>LEI: 2549000L41AJEKAJNL30 | Long             | ABS-O            | CORP              | US        |   10569772 | PA      | $10578718.38  | 0.30%             | 2055-05-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                               | CUSIP: 29273RBL2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     125000 | PA      | $110027.97    | 0.00%             | 2047-04-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AMN HEALTHCARE INC                                | AMN Healthcare Inc                                                               | CUSIP: 00175PAC7<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |    3950000 | PA      | $3628101.77   | 0.10%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3133B5PP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1664301 | PA      | $1369293.37   | 0.04%             | 2052-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     375000 | PA      | $365703.12    | 0.01%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $974564.20    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                             | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAB3<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    2600000 | PA      | $2492192.47   | 0.07%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS LINCOLN NATIONAL CORP                                                        | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $6080.38      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DSUQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    9797839 | PA      | $9683351.94   | 0.28%             | 2042-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                        | CUSIP: 221625AT3<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    3025000 | PA      | $3028025.00   | 0.09%             | 2033-01-30      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                 | Lithia Motors Inc                                                                | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    1350000 | PA      | $1275889.38   | 0.04%             | 2029-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418ECR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3532211 | PA      | $3028599.91   | 0.09%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                          | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    1850000 | PA      | $1866247.44   | 0.05%             | 2040-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                           | Algonquin Power & Utilities Corp                                                 | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |    1635000 | PA      | $1643695.42   | 0.05%             | 2026-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae REMICS                                                                | CUSIP: 3136BWRC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   10478612 | PA      | $10485573.03  | 0.30%             | 2055-07-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                         | ONEOK Inc                                                                        | CUSIP: 682680AT0<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     255000 | PA      | $213074.59    | 0.01%             | 2047-07-13      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Hudson River Trading LLC                          | HUDSON RIVER TRADING LLC                                                         | CUSIP: 44413EAJ7<br>LEI: 549300SMOBUC8O5UOE10 | Long             | LON              | CORP              | US        |    1153224 | PA      | $1156107.34   | 0.03%             | 2030-03-18      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                 | Newell Brands Inc                                                                | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     355000 | PA      | $345062.71    | 0.01%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| GOLDMAN SACHS & CO. LLC                           | CDS MORGAN STANLEY                                                               | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $12608.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CD&R FIREFLY BIDCO LTD                            | CD&R Firefly Bidco PLC                                                           | CUSIP: 000000000<br>LEI: 213800OAU5VX61DYZ558 | Long             | DBT              | CORP              | GB        |   10700000 | PA      | $14554883.65  | 0.42%             | 2029-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                            | Brixmor Operating Partnership LP                                                 | CUSIP: 11120VAH6<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |    1441000 | PA      | $1416092.60   | 0.04%             | 2029-05-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | SWOP CDS CDX.NA.IG.44.V1                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              | CORP              | US        | -407760000 | OU      | $-265617.14   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                             | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     733000 | PA      | $803853.08    | 0.02%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Grosvenor Place CLO                               | Grosvenor Place CLO 2022-1 DAC                                                   | CUSIP: 000000000<br>LEI: 635400XBQAMTXICTXN06 | Long             | ABS-CBDO         | CORP              | IE        |   17500000 | PA      | $20016094.52  | 0.57%             | 2038-05-24      | Floating      | 3.65%                 | No            |                  2 | On Loan: No      |
| SMITHFIELD FOODS INC                              | Smithfield Foods Inc                                                             | CUSIP: 832248BC1<br>LEI: CVTIPZRZJC0JQEZLL598 | Long             | DBT              | CORP              | US        |    8270000 | PA      | $7535545.71   | 0.22%             | 2030-10-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                      | GS Mortgage Securities Corp Trust 2024-RVR                                       | CUSIP: 36272JAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    6900000 | PA      | $6929397.45   | 0.20%             | 2041-08-10      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                           | Hungary Government International Bond                                            | CUSIP: 445545AX4<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |    9670000 | PA      | $9792712.30   | 0.28%             | 2055-09-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                 | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     300000 | PA      | $201547.85    | 0.01%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                  | Vmed O2 UK Financing I PLC                                                       | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    2250000 | PA      | $2776980.28   | 0.08%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OVINTIV INC                                       | Ovintiv Inc                                                                      | CUSIP: 69047QAB8<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    2145000 | PA      | $2198224.69   | 0.06%             | 2028-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| XPO INC                                           | XPO Inc                                                                          | CUSIP: 983793AK6<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |     385000 | PA      | $400811.54    | 0.01%             | 2032-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: —       |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                        | CUSIP: 01F030694<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |   -2500000 | PA      | $-2139520.40  | -0.06%            | 2055-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                | Viking Cruises Ltd                                                               | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     575000 | PA      | $572125.00    | 0.02%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                           | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1000000 | PA      | $991932.65    | 0.03%             | 2028-01-15      | Fixed         | 5.50%                 | 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        |    6445000 | PA      | $6457158.49   | 0.18%             | 2041-11-25      | Floating      | 7.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF INDONESIA                                                        | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-107549.52   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | MXN/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-21808.28    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                 | EURO-BOBL                                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -247 | NC      | $208001.01    | 0.01%             |  |  |  | No            |                  1 | 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        |    1982814 | PA      | $1922855.10   | 0.05%             | 2057-06-20      | Fixed         | 6.25%                 | 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      | $45088.38     | 0.00%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                        | CUSIP: 01F052680<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   27500000 | PA      | $27354408.13  | 0.78%             | 2055-08-15      | Fixed         | 5.50%                 | 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      | $507241.81    | 0.01%             | 2063-02-25      | Variable      | 4.23%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                          | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1190000 | PA      | $1193030.74   | 0.03%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                          | Virgin Media Secured Finance PLC                                                 | CUSIP: 000000000<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |     700000 | PA      | $830807.71    | 0.02%             | 2030-08-15      | Fixed         | 4.12%                 | 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        |    5053000 | PA      | $5105753.32   | 0.15%             | 2055-02-25      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                           | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    2980000 | PA      | $3148352.34   | 0.09%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $-375395.20   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                            | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     275000 | PA      | $243375.00    | 0.01%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Generate CLO Ltd.                                 | Generate CLO 7 Ltd                                                               | CUSIP: 37149LAL1<br>LEI: 25490036G9JNQQPHIX69 | Long             | ABS-CBDO         | CORP              | KY        |    5050000 | PA      | $5069407.66   | 0.14%             | 2037-04-22      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    1500000 | PA      | $1452344.41   | 0.04%             | 2027-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | CNH CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |  -50667000 | NC      | $-25591.68    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | SWOP IRS USD                                                                     | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |    4885000 | OU      | $0.07         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                                  | Bank of Montreal                                                                 | CUSIP: 06368L5Q5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    2380000 | PA      | $2448425.00   | 0.07%             | 2084-11-26      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                       | RCKT Mortgage Trust 2025-CES2                                                    | CUSIP: 74942BAA9<br>LEI: 2549001985H26N17CK52 | Long             | ABS-MBS          | CORP              | US        |    4370373 | PA      | $4375423.34   | 0.13%             | 2055-02-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | CDS REPUBLIC OF PANAMA                                                           | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              | CORP              | US        |          1 | NC      | $-17256.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                  | Trinitas CLO XXIV Ltd                                                            | CUSIP: 89642XAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |    6000000 | PA      | $6022450.20   | 0.17%             | 2037-04-25      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS GATHERING LLC                  | NEW GENERATION GAS GATHERING LLC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     421621 | PA      | $415296.69    | 0.01%             | 2029-09-30      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| CORONADO FINANCE PTY LTD                          | Coronado Finance Pty Ltd                                                         | CUSIP: 21979LAB2<br>LEI: 549300NS5FS0W548RE27 | Long             | DBT              | CORP              | AU        |    1150000 | PA      | $878312.50    | 0.03%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                  | Beazer Homes USA Inc                                                             | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |     150000 | PA      | $149620.06    | 0.00%             | 2027-10-15      | Fixed         | 5.88%                 | 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        |      20600 | PA      | $18230.76     | 0.00%             | 2064-01-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3140QLJG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     933234 | PA      | $840104.50    | 0.02%             | 2051-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWPH0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    8428749 | PA      | $8391642.91   | 0.24%             | 2055-04-01      | Fixed         | 5.50%                 | 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        |    1400000 | PA      | $1463000.00   | 0.04%             | 2043-06-25      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | GBP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $4174.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | IDR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-393633.80   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Tenneco Inc                                       | TENNECO INC                                                                      | CUSIP: 88037HAN4<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |     540054 | PA      | $531615.25    | 0.02%             | 2028-11-17      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | THREE-MONTH SOFR                                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |        182 | NC      | $1137.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD CALL VERSUS COP PUT                                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |    2977000 | NC      | $130.22       | 0.00%             |  |  |  | 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        |    1500000 | PA      | $1567788.30   | 0.04%             | 2030-12-16      | Fixed         | 7.27%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                        | Carvana Co                                                                       | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    3750000 | PA      | $3922839.81   | 0.11%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DIGICEL INTL FIN LTD                              | DIGICEL INTL FIN LTD                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       9592 | NS      | $113928.98    | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    2122000 | NC      | $478.81       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3133USKS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1936074 | PA      | $1588846.20   | 0.05%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | EUR CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |    7385000 | NC      | $644.77       | 0.00%             |  |  |  | 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        |     900000 | PA      | $804643.83    | 0.02%             | 2038-08-05      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Ferrellgas Partners LP                            | Ferrellgas Partners LP                                                           | CUSIP: 315293308<br>LEI: 529900YP52A6C5K57L34 | Long             | EC               | CORP              | US        |       6534 | NS      | $863790.23    | 0.02%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS PEOPLES REPUBLIC OF CHINA                                                    | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-246624.20   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EJ84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     742123 | PA      | $739965.21    | 0.02%             | 2052-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                            | CUSIP: 071734AH0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     400000 | PA      | $334000.00    | 0.01%             | 2028-01-30      | Fixed         | 5.00%                 | Yes           |                  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        |    3000000 | PA      | $3035702.10   | 0.09%             | 2035-03-19      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | CLP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-105127.86   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | INR CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   21318000 | NC      | $388.12       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                            | Brazilian Government International Bond                                          | CUSIP: 105756CM0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    6770000 | PA      | $6781847.50   | 0.19%             | 2030-11-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD CALL VERSUS CNH PUT                                                          | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | DE        |   50667000 | NC      | $368.83       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWBJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    6072947 | PA      | $5013359.11   | 0.14%             | 2051-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                            | Venture Global LNG Inc                                                           | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    5290000 | PA      | $5289259.31   | 0.15%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                            | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    1000000 | PA      | $707670.00    | 0.02%             | 2029-02-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Cent CLO LP                                       | Columbia Cent CLO 29 Ltd                                                         | CUSIP: 197363AY0<br>LEI: 549300CTF5B701OF6K35 | Long             | ABS-CBDO         | CORP              | KY        |   11335000 | PA      | $11332879.22  | 0.32%             | 2034-10-20      | Floating      | 6.29%                 | No            |                  2 | On Loan: No      |
| TPC Group Rights                                  | TPC Group Rights                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      56219 | NS      | $1338714.94   | 0.04%             |  |  |  | Yes           |                  2 | On Loan: No      |
| VISTRA CORP                                       | Vistra Corp                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    2255000 | PA      | $2276052.86   | 0.07%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certi                    | CWABS Asset-Backed Certificates Trust 2004-BC4                                   | CUSIP: 126673KY7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       3699 | PA      | $4380.42      | 0.00%             | 2034-11-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |          1 | NC      | $2290533.12   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERNATIONAL PARK HLDGS BV                       | INTERNATIONAL PARK HLDGS BV                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    2700000 | PA      | $3054158.98   | 0.09%             | 2031-12-31      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Doncasters US Finance LLC                         | DONCASTERS US FINANCE LLC                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    3520438 | PA      | $3555641.88   | 0.10%             | 2030-04-23      | Floating      | 10.80%                | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                      | AGL CLO 9 LTD                                                                    | CUSIP: 001207AQ2<br>LEI: 549300U1G1VA46DEO184 | Long             | ABS-CBDO         | CORP              | KY        |   19500000 | PA      | $19579288.95  | 0.56%             | 2037-04-20      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                           | Imperial Brands Finance PLC                                                      | CUSIP: 45262BAC7<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    3398000 | PA      | $3284570.68   | 0.09%             | 2029-07-26      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2025-RPL1 LLC                                                               | CUSIP: 74390WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     403000 | PA      | $370629.03    | 0.01%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| ISRAEL ELECTRIC CORP LTD                          | Israel Electric Corp Ltd                                                         | CUSIP: 465077AL9<br>LEI: 254900JW7GE35YNJGJ55 | Long             | DBT              | CORP              | IL        |    3000000 | PA      | $2924700.00   | 0.08%             | 2028-08-14      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| UNIV OF CALIFORNIA REVENUES                       | University of California                                                         | CUSIP: 91412GXE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     625000 | PA      | $560055.07    | 0.02%             | 2045-05-15      | Fixed         | 3.93%                 | No            |                  2 | On Loan: No      |
| Clover CLO                                        | Clover CLO 2018-1 LLC                                                            | CUSIP: 18914GAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   15000000 | PA      | $15059590.50  | 0.43%             | 2037-04-20      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                             | CUSIP: 06051GHM4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    1450000 | PA      | $1443242.22   | 0.04%             | 2029-07-23      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                            | Mexico City Airport Trust                                                        | CUSIP: 59284MAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    2000000 | PA      | $1941000.00   | 0.06%             | 2028-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                      | Hudson Yards 2025-SPRL Mortgage Trust                                            | CUSIP: 44855PAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5010000 | PA      | $5164729.34   | 0.15%             | 2040-01-13      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                              | LHOME Mortgage Trust 2024-RTL5                                                   | CUSIP: 50205WAA5<br>LEI: 529900ZQNJ23BIJVY871 | Long             | ABS-MBS          | CORP              | US        |    6500000 | PA      | $6475305.20   | 0.19%             | 2039-09-25      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | TRY/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-38530.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                            | AngloGold Ashanti Holdings PLC                                                   | CUSIP: 03512TAF8<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |     730000 | PA      | $697669.25    | 0.02%             | 2028-11-01      | Fixed         | 3.38%                 | 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        |   10000000 | PA      | $11412000.00  | 0.33%             | 2038-01-15      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| AKER BP ASA                                       | Aker BP ASA                                                                      | CUSIP: 00973RAF0<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |    2760000 | PA      | $2625252.11   | 0.08%             | 2030-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                              | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    6800000 | PA      | $6798164.00   | 0.19%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REGL TRANSPRTN DIST CO SALES T                    | Regional Transportation District Sales Tax Revenue                               | CUSIP: 759136QP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    1190000 | PA      | $1201650.51   | 0.03%             | 2050-11-01      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                               | CUSIP: 29273RBF5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      55000 | PA      | $48227.52     | 0.00%             | 2045-03-15      | Fixed         | 5.15%                 | 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        |    2700000 | PA      | $2268000.00   | 0.06%             | 2035-05-15      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | TWD CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   -2118000 | NC      | $-626.47      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS GENERAL MOTORS CO                                                            | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $103729.48    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS KINGDOM OF MOROCCO                                                           | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $-85672.83    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2022-DNA1                                          | CUSIP: 35564KQC6<br>LEI: 5493000ISBDRXIMCHZ70 | Long             | ABS-MBS          | CORP              | US        |      70000 | PA      | $71284.23     | 0.00%             | 2042-01-25      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Secu                    | Bear Stearns Asset Backed Securities Trust 2003-3                                | CUSIP: 07384YLS3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      41342 | PA      | $40917.98     | 0.00%             | 2043-06-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Madison Park Euro Funding                         | Madison Park Euro Funding XVI DAC                                                | CUSIP: 000000000<br>LEI: 635400X2NOVLPNW79680 | Long             | ABS-CBDO         | CORP              | IE        |    2500000 | PA      | $2835672.88   | 0.08%             | 2034-05-25      | Floating      | 2.82%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                         | Ball Corp                                                                        | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    2375000 | PA      | $2417440.36   | 0.07%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |      25000 | PA      | $25264.24     | 0.00%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2022-DNA3                                          | CUSIP: 35564KUX5<br>LEI: 5493000IS4M3TZMRB410 | Long             | ABS-MBS          | CORP              | US        |    2020000 | PA      | $2081004.00   | 0.06%             | 2042-04-25      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS UNITED MEXICAN STATES                                                        | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $24815.14     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EHP8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3537891 | PA      | $3460616.45   | 0.10%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | IDR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |          1 | NC      | $31369.39     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                | EUR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-23281.02    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS BRL PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |    2554000 | NC      | $204.96       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SECURITIES (USA) INC.             | USD/TWD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 549300WO2DKF0Q3YMV43 | N/A              | DFE              | CORP              | US        |          1 | NC      | $320251.48    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132E0UG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2400296 | PA      | $2223277.52   | 0.06%             | 2045-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                 | EURO-BUND                                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -26 | NC      | $33331.32     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWF57<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2882159 | PA      | $2818610.81   | 0.08%             | 2053-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CCW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   40000000 | PA      | $38565625.00  | 1.10%             | 2026-08-31      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS CHESAPEAKE ENERGY CORP                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-315793.39   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS ISRAEL ELECTRIC CORP LTD                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-12893.28    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Oaktown Re Ltd                                    | Oaktown Re VII Ltd                                                               | CUSIP: 67389JAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |     710300 | PA      | $717007.85    | 0.02%             | 2034-04-25      | Floating      | 7.25%                 | 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        |    2800000 | PA      | $3177785.20   | 0.09%             | 2034-04-24      | Floating      | 2.74%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                     | DISH DBS Corp                                                                    | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     425000 | PA      | $309996.60    | 0.01%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GWZ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     135000 | PA      | $134027.75    | 0.00%             | 2029-05-01      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| INGLES MARKETS INC                                | Ingles Markets Inc                                                               | CUSIP: 457030AK0<br>LEI: 549300XH5RYBMYP8TF26 | Long             | DBT              | CORP              | US        |     275000 | PA      | $255895.26    | 0.01%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418ERA0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1220808 | PA      | $1241740.21   | 0.04%             | 2053-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DVL52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3420673 | PA      | $2861823.99   | 0.08%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DIG MIDCO/DIFL US II LLC                          | Digicel Midco Ltd / Difl US II LLC                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LC        |     872361 | PA      | $883265.51    | 0.03%             | 2028-11-25      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF PHILIPPINES                                                      | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-57770.03    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWFU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    5035166 | PA      | $5120091.35   | 0.15%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1300000 | PA      | $1234880.83   | 0.04%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                             | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    1110000 | PA      | $1139218.45   | 0.03%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                             | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     710000 | PA      | $749204.83    | 0.02%             | 2029-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS TENET HEALTHCARE CORP                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-290517.81   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                   | AdaptHealth LLC                                                                  | CUSIP: 00653VAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     725000 | PA      | $722052.67    | 0.02%             | 2028-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                              | CUSIP: 71643VAB1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    2905000 | PA      | $2759750.00   | 0.08%             | 2032-02-16      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DPQG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1585983 | PA      | $1611231.78   | 0.05%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                           | SBA Communications Corp                                                          | CUSIP: 78410GAG9<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              | CORP              | US        |    1500000 | PA      | $1398045.58   | 0.04%             | 2029-02-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: —       |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWCK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1299084 | PA      | $1116975.46   | 0.03%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                        | NLT 2025-INV1 Trust                                                              | CUSIP: 62916TAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     405000 | PA      | $396117.34    | 0.01%             | 2070-02-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWFG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1142906 | PA      | $1117824.96   | 0.03%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                            | Mexico City Airport Trust                                                        | CUSIP: 59284MAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |     218000 | PA      | $216774.84    | 0.01%             | 2026-10-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                 | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     510000 | PA      | $534996.13    | 0.02%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Toro European CLO                                 | Toro European CLO 9 DAC                                                          | CUSIP: 000000000<br>LEI: 635400O88YIWGH2M9N44 | Long             | ABS-CBDO         | CORP              | IE        |    9000000 | PA      | $10294380.73  | 0.29%             | 2037-04-15      | Floating      | 3.68%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                           | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     860000 | PA      | $840665.12    | 0.02%             | 2032-04-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Toro European CLO                                 | Toro European CLO 10 DAC                                                         | CUSIP: 000000000<br>LEI: 6354001HJSVF7BJWDP89 | Long             | ABS-CBDO         | CORP              | IE        |    8000000 | PA      | $9060662.39   | 0.26%             | 2038-04-15      | Floating      | 3.61%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Secu                    | Bear Stearns Asset Backed Securities Trust 2003-HE1                              | CUSIP: 07384YPB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1184286 | PA      | $1192696.18   | 0.03%             | 2034-01-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| BIG RIVER STEEL/BRS FIN                           | Big River Steel LLC / BRS Finance Corp                                           | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1600000 | PA      | $1599344.24   | 0.05%             | 2029-01-31      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corpora                    | Chase Mortgage Finance Trust Series 2007-A1                                      | CUSIP: 161630AC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      17152 | PA      | $17003.50     | 0.00%             | 2037-02-25      | Variable      | 6.51%                 | No            |                  2 | On Loan: No      |
| PGIM AAA CLO ETF                                  | PGIM AAA CLO ETF                                                                 | CUSIP: 69344A834<br>LEI: 5493000IJ4TGDWNHKI54 | Long             | EC               | RF                | US        |    1800000 | NS      | $92646000.00  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    2127000 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3140XRYX7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1940674 | PA      | $1798224.91   | 0.05%             | 2053-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                        | NLT 2025-INV1 Trust                                                              | CUSIP: 62916TAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     783165 | PA      | $782312.44    | 0.02%             | 2070-02-25      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                          | First Quantum Minerals Ltd                                                       | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    1600000 | PA      | $1690000.00   | 0.05%             | 2029-03-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                          | Sally Holdings LLC / Sally Capital Inc                                           | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     390000 | PA      | $400476.02    | 0.01%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| ORGANON & CO/ORGANON FOR                          | Organon & Co / Organon Foreign Debt Co-Issuer BV                                 | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     650000 | PA      | $614914.99    | 0.02%             | 2028-04-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                         | ONEOK Inc                                                                        | CUSIP: 682680BJ1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    2908000 | PA      | $3000100.29   | 0.09%             | 2028-11-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ClubCorp Holdings Inc                             | CLUBCORP HLDGS INC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     119268 | PA      | $118289.63    | 0.00%             | 2031-07-10      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| ECHOSTAR CORP                                     | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    4750000 | PA      | $5005240.88   | 0.14%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/PEN FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $57839.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWBC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    2586067 | PA      | $2130116.71   | 0.06%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | TRS TRSBENCH23 INDEX                                                             | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               | CORP              | US        |          1 | NC      | $-5215.95     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                            | Orbia Advance Corp SAB de CV                                                     | CUSIP: 68560EAC2<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |    4780000 | PA      | $4888410.40   | 0.14%             | 2030-05-13      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                              | Chart Industries Inc                                                             | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     850000 | PA      | $890447.55    | 0.03%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                            | General Motors Financial Co Inc                                                  | CUSIP: 37045XEN2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     695000 | PA      | $716344.34    | 0.02%             | 2029-01-07      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| GEORGIA-PACIFIC LLC                               | Georgia-Pacific LLC                                                              | CUSIP: 373298BN7<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |     400000 | PA      | $403245.82    | 0.01%             | 2025-12-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Gold Pool                                                            | CUSIP: 31335CAN4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    3551047 | PA      | $3179464.53   | 0.09%             | 2046-07-01      | Fixed         | 3.00%                 | 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        |     604131 | PA      | $629946.15    | 0.02%             | 2040-04-20      | Fixed         | 9.72%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                            | CUSIP: 527298BV4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    3775682 | PA      | $4288986.62   | 0.12%             | 2029-11-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS CDX.NA.HY.43.V1                                                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $72468.23     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Bain Capital Credit CLO, Limit                    | Bain Capital Credit CLO 2022-1 Ltd                                               | CUSIP: 05684UAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1500000 | PA      | $1502488.05   | 0.04%             | 2035-04-18      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    2829000 | PA      | $3228454.80   | 0.09%             | 2027-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2025-RPL1 LLC                                                               | CUSIP: 74390WAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     683000 | PA      | $639605.46    | 0.02%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2022-HQA3                                          | CUSIP: 35564KE70<br>LEI: 5493000IRJ8RDHSNEL96 | Long             | ABS-MBS          | CORP              | US        |     600000 | PA      | $645410.76    | 0.02%             | 2042-08-25      | Floating      | 9.70%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                          | Petrobras Global Finance BV                                                      | CUSIP: 000000000<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |     800000 | PA      | $1036974.38   | 0.03%             | 2029-10-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EL57<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     873208 | PA      | $888148.15    | 0.03%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                            | UnitedHealth Group Inc                                                           | CUSIP: 91324PFQ0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    1255000 | PA      | $1269056.12   | 0.04%             | 2035-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS FEDERATIVE REPUBLIC OF BRAZIL                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $183053.92    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EXS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2881833 | PA      | $2736017.62   | 0.08%             | 2053-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                 | Post Holdings Inc                                                                | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    1055000 | PA      | $1057107.55   | 0.03%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                          | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp               | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     475000 | PA      | $293407.42    | 0.01%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                              | CUSIP: 912834KP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     165000 | PA      | $74118.69     | 0.00%             | 2041-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                        | NLT 2025-INV1 Trust                                                              | CUSIP: 62916TAK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   10617674 | PA      | $86416.19     | 0.00%             | 2070-02-25      | Variable      | 0.40%                 | No            |                  2 | On Loan: No      |
| DIG HLDNG/DIG FIN/DIFL                            | Digicel Intermediate Holdings Ltd / Digicel International Finance Ltd / Difl US  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    1188118 | PA      | $1189009.09   | 0.03%             | 2027-05-25      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Trust 2024-VLT4                                                               | CUSIP: 05612TAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    6000000 | PA      | $5994375.00   | 0.17%             | 2029-07-15      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                             | KKR Clo 17 Ltd                                                                   | CUSIP: 48251FAG6<br>LEI: 549300I0HBY0ZQ3YIB77 | Long             | ABS-CBDO         | CORP              | KY        |    3300000 | PA      | $3304950.00   | 0.09%             | 2034-04-15      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                 | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    1600000 | PA      | $1472011.22   | 0.04%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Apidos CLO Ltd                                    | Apidos CLO XVIII-R                                                               | CUSIP: 03767NAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   14250000 | PA      | $14294494.20  | 0.41%             | 2038-01-22      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                             | Caesars Entertainment Inc                                                        | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    1450000 | PA      | $1495823.09   | 0.04%             | 2030-02-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | PHP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-488471.22   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                          | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |     905000 | PA      | $938516.10    | 0.03%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Indigo Credit Management                          | Indigo Credit Management II DAC                                                  | CUSIP: 000000000<br>LEI: 635400ZBUBZKOZYRMX14 | Long             | ABS-CBDO         | CORP              | IE        |    6500000 | PA      | $7435988.45   | 0.21%             | 2038-07-15      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N                    | Ally Bank Auto Credit-Linked Notes Series 2024-A                                 | CUSIP: 02007GZ89<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1329028 | PA      | $1356351.20   | 0.04%             | 2032-05-17      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | EUR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-222149.61   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Doncasters US Finance LLC                         | DONCASTERS US FIN LLC                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1200000 | PA      | $1212000.00   | 0.03%             | 2030-04-23      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                             | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     450000 | PA      | $462860.06    | 0.01%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | EUR CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   -3639000 | NC      | $-22514.83    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                                 | Wellfleet CLO 2022-2 Ltd                                                         | CUSIP: 94949FAL7<br>LEI: 2549008BRKHJZB917M86 | Long             | ABS-CBDO         | CORP              | KY        |   15000000 | PA      | $15059169.00  | 0.43%             | 2037-10-18      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3140XMBW5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1015278 | PA      | $913957.84    | 0.03%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED GROUP BV                                   | United Group BV                                                                  | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |    2950000 | PA      | $3475986.22   | 0.10%             | 2031-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                   | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    1050000 | PA      | $959022.74    | 0.03%             | 2032-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | INR CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -13730000 | NC      | $-82491.37    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                 | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    3325000 | PA      | $1636763.79   | 0.05%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable                    | OneMain Direct Auto Receivables Trust 2019-1                                     | CUSIP: 68267EAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1700000 | PA      | $1689927.16   | 0.05%             | 2028-11-14      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GA46<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    3110000 | PA      | $3286874.14   | 0.09%             | 2029-10-24      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132E0VA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    6209256 | PA      | $5750675.86   | 0.16%             | 2046-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                             | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |     450000 | PA      | $462863.67    | 0.01%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | SWOP IRS USD                                                                     | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              | CORP              | DE        |    4885000 | OU      | $13491.85     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP                              | Capstone Copper Corp                                                             | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |     445000 | PA      | $451675.00    | 0.01%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS DOMINICAN REPUBLIC                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $56684.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWFR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     832122 | PA      | $813818.46    | 0.02%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3140QMCJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1890837 | PA      | $1625567.08   | 0.05%             | 2051-10-01      | Fixed         | 3.00%                 | 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        |      28420 | NS      | $381311.14    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2025-RPL1 LLC                                                               | CUSIP: 74390WAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     139000 | PA      | $123315.82    | 0.00%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |          1 | NC      | $5868.48      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | TRY/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $54498.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                              | Enel Finance International NV                                                    | CUSIP: 29278GBD9<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |    6560000 | PA      | $6654282.94   | 0.19%             | 2029-06-26      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                 | Post Holdings Inc                                                                | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     225000 | PA      | $214928.91    | 0.01%             | 2030-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                              | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    2188000 | PA      | $2129908.60   | 0.06%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                              | CUSIP: 912834VE5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     580000 | PA      | $168540.44    | 0.00%             | 2049-11-15      | None          | 0.00%                 | 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        |    8977208 | PA      | $897.72       | 0.00%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                              | CUSIP: 706451BR1<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      42000 | PA      | $34460.58     | 0.00%             | 2038-06-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                    | Transocean Inc                                                                   | CUSIP: 893830BY4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |     335000 | PA      | $314920.10    | 0.01%             | 2029-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Crown City CLO                                    | Crown City CLO II                                                                | CUSIP: 22823KAQ7<br>LEI: 549300TQXORNUWLBOD84 | Long             | ABS-CBDO         | CORP              | KY        |    2750000 | PA      | $2755153.78   | 0.08%             | 2035-04-20      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Trust 2025-ROIC                                                               | CUSIP: 05593VAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5000497 | PA      | $4962993.57   | 0.14%             | 2030-03-15      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS CAESARS ENTERTAINMENT INC                                                    | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-216413.53   | -0.01%            |  |  |  | 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        |    1019000 | PA      | $1026444.30   | 0.03%             | 2054-05-20      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | USD/IDR FORWARD                                                                  | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |          1 | NC      | $45167.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $-180812.26   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                     | New Residential Mortgage Loan Trust 2018-4                                       | CUSIP: 64828FCQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     762752 | PA      | $747572.26    | 0.02%             | 2048-01-25      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $-96626.27    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                     | Carnival Corp                                                                    | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     281000 | PA      | $283930.83    | 0.01%             | 2027-03-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | THREE-MONTH SOFR                                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -406 | NC      | $181957.02    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| KINDER MORGAN INC                                 | Kinder Morgan Inc                                                                | CUSIP: 49456BAZ4<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    6310000 | PA      | $6425915.79   | 0.18%             | 2029-08-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                             | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     610000 | PA      | $623050.96    | 0.02%             | 2032-04-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| CORP ANDINA DE FOMENTO                            | Corp Andina de Fomento                                                           | CUSIP: 219868CH7<br>LEI: UKZ46SXGNYCZK0UOZE76 | Long             | DBT              | NUSS              | N/A       |    1665000 | PA      | $1709460.00   | 0.05%             | 2027-04-26      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                | Angolan Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    5320000 | PA      | $5349951.60   | 0.15%             | 2025-11-12      | Fixed         | 9.50%                 | 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        |     176744 | PA      | $105350.08    | 0.00%             | 2064-01-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                        | NLT 2025-INV1 Trust                                                              | CUSIP: 62916TAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     578000 | PA      | $580027.68    | 0.02%             | 2070-02-25      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                    | ARES Trust 2025-IND3                                                             | CUSIP: 039955AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3160000 | PA      | $3158025.95   | 0.09%             | 2042-04-15      | Floating      | 6.89%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                      | Ecopetrol SA                                                                     | CUSIP: 279158AN9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    2170000 | PA      | $2172821.00   | 0.06%             | 2030-04-29      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ENN CLEAN ENERGY                                  | ENN Clean Energy International Investment Ltd                                    | CUSIP: 268733AA0<br>LEI: 3003009YZ3S5V395NR77 | Long             | DBT              | CORP              | VG        |    1350000 | PA      | $1328980.50   | 0.04%             | 2026-05-12      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                          | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     899000 | PA      | $1093827.56   | 0.03%             | 2027-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | JPY/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-133598.86   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/KRW FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $795630.61    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| MASTR Asset Backed Securities                     | Mastr Asset Backed Securities Trust 2003-WMC2                                    | CUSIP: 57643LBZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     379182 | PA      | $419992.13    | 0.01%             | 2033-08-25      | Floating      | 4.17%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                   | CUSIP: 10554TAB1<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    1630000 | PA      | $1246950.00   | 0.04%             | 2028-01-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                          | Celanese US Holdings LLC                                                         | CUSIP: 15089QAW4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    1075000 | PA      | $1119787.72   | 0.03%             | 2028-11-15      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                          | United Wholesale Mortgage LLC                                                    | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    1052000 | PA      | $1052019.79   | 0.03%             | 2025-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CT TRUST                                          | CT Trust                                                                         | CUSIP: 12659BAA2<br>LEI: 213800MJB7WO427HQD34 | Long             | DBT              | CORP              | GT        |     760000 | PA      | $711550.00    | 0.02%             | 2032-02-03      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BAY AREA CA TOLL AUTH TOLL BRI                    | Bay Area Toll Authority                                                          | CUSIP: 072024ND0<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |     550000 | PA      | $574035.77    | 0.02%             | 2049-04-01      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                          | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      75000 | PA      | $69258.63     | 0.00%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Monument CLO                                      | Monument Clo 1 DAC                                                               | CUSIP: 000000000<br>LEI: 254900PSVC5Y0GWN0R36 | Long             | ABS-CBDO         | CORP              | IE        |   20000000 | PA      | $22900102.06  | 0.65%             | 2037-05-15      | Floating      | 3.73%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS HILTON DOMESTIC OPERATING CO INC                                             | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-316185.20   | -0.01%            |  |  |  | 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      | $2562750.50   | 0.07%             | 2036-09-15      | Fixed         | 7.52%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                      | Ecopetrol SA                                                                     | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |     440000 | PA      | $379552.80    | 0.01%             | 2031-11-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                          | Boost Newco Borrower LLC                                                         | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |     200000 | PA      | $211453.59    | 0.01%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GWV2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      35000 | PA      | $34353.04     | 0.00%             | 2029-04-23      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                          | Penske Truck Leasing Co Lp / PTL Finance Corp                                    | CUSIP: 709599CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    2110000 | PA      | $2151961.57   | 0.06%             | 2029-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                                  | Bellemeade Re Ltd                                                                | CUSIP: 078915AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    4612000 | PA      | $4660813.41   | 0.13%             | 2034-08-25      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| ICG Euro CLO                                      | ICG Euro CLO 2023-1 DAC                                                          | CUSIP: 000000000<br>LEI: 635400IDZDV7D9IJ8J46 | Long             | ABS-CBDO         | CORP              | IE        |   15750000 | PA      | $17919981.89  | 0.51%             | 2038-10-19      | Floating      | 3.27%                 | No            |                  2 | On Loan: No      |
| YARA INTERNATIONAL ASA                            | Yara International ASA                                                           | CUSIP: 984851AG0<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | DBT              | CORP              | NO        |    4755000 | PA      | $4375931.40   | 0.13%             | 2030-06-04      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| JACOBS ENTERTAINMENT INC                          | Jacobs Entertainment Inc                                                         | CUSIP: 469815AL8<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |     690000 | PA      | $674626.25    | 0.02%             | 2029-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                              | OneMain Finance Corp                                                             | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    1750000 | PA      | $1787046.06   | 0.05%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                 | Service Corp International/US                                                    | CUSIP: 817565CH5<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |     730000 | PA      | $731641.29    | 0.02%             | 2032-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| HYUNDAI CAPITAL AMERICA                           | Hyundai Capital America                                                          | CUSIP: 44891ADX2<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    4375000 | PA      | $4437225.76   | 0.13%             | 2032-06-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | USD CALL VERSUS EUR PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |  -10818000 | NC      | $-293218.97   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    4202000 | PA      | $4667946.65   | 0.13%             | 2030-03-22      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWDT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     306485 | PA      | $274300.60    | 0.01%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                         | BPR Commercial Mortgage Trust 2024-PARK                                          | CUSIP: 05593UAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5350000 | PA      | $5399963.65   | 0.15%             | 2039-11-05      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| RUTGERS NJ ST UNIV                                | Rutgers The State University of New Jersey                                       | CUSIP: 783186NH8<br>LEI: 549300BOYDHNW8J60112 | Long             | DBT              | MUN               | US        |     200000 | PA      | $201537.83    | 0.01%             | 2040-05-01      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $1082357.83   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWFH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1412863 | PA      | $1409555.16   | 0.04%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TEACHERS INSUR & ANNUITY                          | Teachers Insurance & Annuity Association of America                              | CUSIP: 878091BC0<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |      54000 | PA      | $60540.18     | 0.00%             | 2039-12-16      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CDK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  237240000 | PA      | $228630782.81 | 6.53%             | 2026-11-30      | Fixed         | 1.25%                 | 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        |     441861 | PA      | $334392.01    | 0.01%             | 2064-01-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                          | Sealed Air Corp/Sealed Air Corp US                                               | CUSIP: 812127AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     125000 | PA      | $126197.20    | 0.00%             | 2028-02-01      | Fixed         | 6.12%                 | 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        |     134411 | PA      | $53029.37     | 0.00%             | 2064-01-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $-1449558.81  | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R03                                     | CUSIP: 20753XAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1000000 | PA      | $1078649.00   | 0.03%             | 2042-03-25      | Floating      | 10.60%                | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R02                                     | CUSIP: 20754BAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1900000 | PA      | $1946094.00   | 0.06%             | 2042-01-25      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 912810TN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1000000 | PA      | $804531.25    | 0.02%             | 2053-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWG23<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1245635 | PA      | $1266674.26   | 0.04%             | 2053-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                  | CSC Holdings LLC                                                                 | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |     987342 | PA      | $984565.34    | 0.03%             | 2028-01-18      | Floating      | 8.84%                 | No            |                  2 | On Loan: No      |
| NCR ATLEOS LLC                                    | NCR Atleos Corp                                                                  | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |     761000 | PA      | $824646.54    | 0.02%             | 2029-04-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | 3 MONTH SOFR                                                                     | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -406 | NC      | $192107.02    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                    | CUSIP: 172967LD1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     980000 | PA      | $969918.70    | 0.03%             | 2028-01-10      | Fixed         | 3.89%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | JPY CALL VERSUS EUR PUT                                                          | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              | CORP              | GB        |    5447000 | NC      | $21.25        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   30000000 | PA      | $27164062.50  | 0.78%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                  | Societe Generale SA                                                              | CUSIP: 83368RBD3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    9090000 | PA      | $8036838.96   | 0.23%             | 2032-06-09      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     758000 | PA      | $719600.82    | 0.02%             | 2033-03-03      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                            | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1675000 | PA      | $1689377.01   | 0.05%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS LOUISIANA PACIFIC CORP                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-325903.63   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418FMJ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    7483687 | PA      | $7446112.31   | 0.21%             | 2055-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RXO INC                                           | RXO Inc                                                                          | CUSIP: 98379JAA3<br>LEI: 549300KL8CA6GP8XPM30 | Long             | DBT              | CORP              | US        |     975000 | PA      | $995110.98    | 0.03%             | 2027-11-15      | Fixed         | 7.50%                 | 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        |     298199 | PA      | $23440.74     | 0.00%             | 2063-02-25      | None          | 0.00%                 | 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        |   10000000 | PA      | $11412376.60  | 0.33%             | 2038-01-15      | Floating      | 3.63%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                   | CUSIP: 10554TAH8<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    7471000 | PA      | $5846057.50   | 0.17%             | 2031-01-12      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                        | CUSIP: 01F052698<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    6500000 | PA      | $6460255.36   | 0.18%             | 2055-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2025-4 LLC                                                                  | CUSIP: 69382KAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   11354608 | PA      | $11370476.15  | 0.32%             | 2030-06-25      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                       | Viatris Inc                                                                      | CUSIP: 92556VAF3<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |    2190000 | PA      | $1441213.85   | 0.04%             | 2050-06-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179XBU9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     857557 | PA      | $818149.74    | 0.02%             | 2052-07-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3140QPKN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2316756 | PA      | $2082329.15   | 0.06%             | 2052-06-01      | Fixed         | 3.50%                 | 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        |     235634 | PA      | $155054.95    | 0.00%             | 2064-01-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                 | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     900000 | PA      | $929324.65    | 0.03%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                    | Long Beach Mortgage Loan Trust 2004-2                                            | CUSIP: 542514FT6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     430510 | PA      | $423345.54    | 0.01%             | 2034-06-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                          | First Quantum Minerals Ltd                                                       | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    1800000 | PA      | $1854000.00   | 0.05%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/PEN FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-70067.93    | -0.00%            |  |  |  | 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      | $19450.92     | 0.00%             | 2063-02-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS PETROLEOS MEXICANOS                                                          | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $16147.53     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JERROLD FINCO PLC                                 | Jerrold Finco PLC                                                                | CUSIP: 000000000<br>LEI: 213800F7AYNHLL1BPR31 | Long             | DBT              | CORP              | GB        |    6400000 | PA      | $8647640.29   | 0.25%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EGT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2015313 | PA      | $1971294.56   | 0.06%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS BRL PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   -2554000 | NC      | $-25101.52    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FERRELLGAS ESCROW LLC 3/30/31 Equity Preferred    | FERRELLGAS ESCROW LLC 3/30/31 Equity Preferred                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     545000 | NS      | $545000.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $1572133.17   | 0.04%             |  |  |  | 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        |   42301629 | NS      | $42301628.66  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Commercial Mortgage S                    | BBCMS 2018-CHRS Mortgage Trust                                                   | CUSIP: 05491VAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1490000 | PA      | $1288001.00   | 0.04%             | 2038-08-05      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36180ACA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   13855286 | PA      | $13830697.94  | 0.40%             | 2054-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AYDEM YENILENEBILIR ENER                          | Aydem Yenilenebilir Enerji AS                                                    | CUSIP: 000000000<br>LEI: 9845009C50EDA74OA532 | Long             | DBT              | CORP              | TR        |    3150000 | PA      | $3115413.00   | 0.09%             | 2027-02-02      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 912810SE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   68955000 | PA      | $53860319.53  | 1.54%             | 2048-11-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                        | BFLD 2024-VICT Mortgage Trust                                                    | CUSIP: 05555VAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4400000 | PA      | $4389021.12   | 0.13%             | 2041-07-15      | Floating      | 6.93%                 | No            |                  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        |     141395 | PA      | $60860.86     | 0.00%             | 2064-01-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWAX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     463106 | PA      | $383045.28    | 0.01%             | 2051-01-01      | Fixed         | 2.50%                 | 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        |    2500000 | PA      | $2508556.50   | 0.07%             | 2041-10-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EKV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   22187225 | PA      | $22191865.20  | 0.63%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R01                                     | CUSIP: 20754LAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     318000 | PA      | $326139.40    | 0.01%             | 2041-12-25      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| DIGICEL GROUP HOLDINGS                            | Digicel Group Holdings Ltd                                                       | CUSIP: 25381HAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |      44436 | PA      | $0.04         | 0.00%             | 2030-12-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| BARCLAYS PLC                                      | TWD/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |          1 | NC      | $101075.43    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                               | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    3360000 | PA      | $3437401.44   | 0.10%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                               | CDW LLC / CDW Finance Corp                                                       | CUSIP: 12513GBK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1255000 | PA      | $1262947.50   | 0.04%             | 2030-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                          | Volkswagen Group of America Finance LLC                                          | CUSIP: 928668CQ3<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    2055000 | PA      | $2083344.82   | 0.06%             | 2030-03-27      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD UAE                                  | DP World Ltd/United Arab Emirates                                                | CUSIP: 000000000<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |     601000 | PA      | $682863.99    | 0.02%             | 2026-09-25      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| PGIM Institutional Money Market Fund - D          | PGIM Institutional Money Market Fund - D                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   37979572 | NS      | $37952986.06  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Wind River CLO Ltd                                | THL Credit Wind River 2020-1 CLO Ltd                                             | CUSIP: 973142AU6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    5000000 | PA      | $5025334.00   | 0.14%             | 2037-07-20      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                           | Imperial Brands Finance PLC                                                      | CUSIP: 45262BAG8<br>LEI: 2138008L3B3MCG1DFS50 | Long             | DBT              | CORP              | GB        |    3200000 | PA      | $3285857.92   | 0.09%             | 2030-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                              | Signal Peak CLO 8 Ltd                                                            | CUSIP: 826937AA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   12950000 | PA      | $13002453.98  | 0.37%             | 2037-10-20      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| SWF HOLDINGS I CORP                               | SWF Holdings I Corp                                                              | CUSIP: 78500AAA6<br>LEI: 5493000CMZKPQ7BKPB20 | Long             | DBT              | CORP              | US        |     325000 | PA      | $123473.66    | 0.00%             | 2029-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                             | Civitas Resources Inc                                                            | CUSIP: 17888HAC7<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    1975000 | PA      | $2016366.56   | 0.06%             | 2030-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                  | Deutsche Bank AG/New York NY                                                     | CUSIP: 251526CX5<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    2065000 | PA      | $2080551.31   | 0.06%             | 2030-09-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/THB FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $155654.29    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                   | Sands China Ltd                                                                  | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |     344000 | PA      | $347762.50    | 0.01%             | 2028-08-08      | Variable      | 5.40%                 | No            |                  2 | On Loan: —       |
| HSBC SECURITIES (USA) INC.                        | USD/THB FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-141417.86   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                               | Elevance Health Inc                                                              | CUSIP: 94973VBB2<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |     120000 | PA      | $104114.07    | 0.00%             | 2043-01-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | INR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |          1 | NC      | $80188.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Boots Group                                   | BOOTS GROUP BIDCO LTD/THE                                                        | CUSIP: 000000000<br>LEI: 254900Q2CMXV6QWMW891 | Long             | LON              | CORP              | GB        |    1575000 | PA      | $2088938.73   | 0.06%             | 2032-07-22      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                     | CoreWeave Inc                                                                    | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     895000 | PA      | $893427.00    | 0.03%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                           | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    2000000 | PA      | $2096995.35   | 0.06%             | 2030-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| M/I HOMES INC                                     | M/I Homes Inc                                                                    | CUSIP: 55305BAS0<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |    1000000 | PA      | $990846.00    | 0.03%             | 2028-02-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Finance America Mortgage Loan                     | Finance America Mortgage Loan Trust 2003-1                                       | CUSIP: 317350AC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     622686 | PA      | $620641.16    | 0.02%             | 2033-09-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| State Street Bank and Trust Company               | EUR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |          1 | NC      | $2156181.08   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                      | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |          1 | NC      | $132838.68    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INTELSAT EMERGENCE SA                             | INTELSAT EMERGENCE SA                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      19703 | NS      | $229668.02    | 0.01%             |  |  |  | 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        |     398943 | PA      | $328695.08    | 0.01%             | 2063-02-25      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3140XMLB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    4989634 | PA      | $4452955.22   | 0.13%             | 2048-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| GOVT OF BERMUDA                                   | Bermuda Government International Bond                                            | CUSIP: 085209AG9<br>LEI: 549300FP5PUZXX9FVJ40 | Long             | DBT              | NUSS              | BM        |     685000 | PA      | $610506.25    | 0.02%             | 2030-08-20      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | EUR CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -12714000 | NC      | $-65224.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2022-DNA4                                          | CUSIP: 35564KWT2<br>LEI: 5493000IS4CDPWRMWB65 | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $207999.70    | 0.01%             | 2042-05-25      | Floating      | 7.70%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                   | AdaptHealth LLC                                                                  | CUSIP: 00653VAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     750000 | PA      | $702919.73    | 0.02%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                     | B&G Foods Inc                                                                    | CUSIP: 05508WAB1<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |    1275000 | PA      | $1131100.22   | 0.03%             | 2027-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $1163718.90   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418DWS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    1869247 | PA      | $1542461.51   | 0.04%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                              | CUSIP: 912833X96<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     870000 | PA      | $544156.88    | 0.02%             | 2035-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CLEAN RENEWABLE POWER                             | Clean Renewable Power Mauritius Pte Ltd                                          | CUSIP: 18452NAB0<br>LEI: 2138003P9CSDW7P4MT75 | Long             | DBT              | CORP              | MU        |     382375 | PA      | $371381.72    | 0.01%             | 2027-03-25      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | BRL/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-74600.75    | -0.00%            |  |  |  | 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        |        334 | NC      | $88996.02     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CJT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   68890000 | PA      | $68836179.69  | 1.97%             | 2027-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |          1 | NC      | $1738368.97   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWD34<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   13901378 | PA      | $12848318.03  | 0.37%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CFL0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    4110000 | PA      | $4101972.66   | 0.12%             | 2029-09-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                          | Republic of South Africa Government International Bond                           | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   20000000 | PA      | $22945766.04  | 0.66%             | 2026-07-24      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $-645460.38   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | JPY CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |    6373000 | NC      | $27.60        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | EUR CALL VERSUS PLN PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |    3633000 | NC      | $136.59       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/CLP FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-113808.88   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV                                  | ABN AMRO Bank NV                                                                 | CUSIP: 00084DBC3<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    3700000 | PA      | $3712861.20   | 0.11%             | 2026-10-13      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                          | Suburban Propane Partners LP/Suburban Energy Finance Corp                        | CUSIP: 864486AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    2550000 | PA      | $2540762.41   | 0.07%             | 2027-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS SIMON PROPERTY GROUP LP                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $16529.16     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                        | CUSIP: 01F020695<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   24500000 | PA      | $19171618.73  | 0.55%             | 2055-09-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2024-5 LLC                                                                  | CUSIP: 69381KAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4454334 | PA      | $4446921.31   | 0.13%             | 2029-09-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                      | Novelis Corp                                                                     | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    1425000 | PA      | $1401972.97   | 0.04%             | 2026-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Codere Group Topco S.A. Warrants                  | Codere Group Topco S.A. Warrants                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | N/A       |         34 | NS      | $310.41       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS EQM MIDSTREAM PARTNERS LP                                                    | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-322732.11   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | TWD CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   -2118000 | NC      | $-626.47      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OFSI Fund LTD                                     | OFSI BSL XI Ltd                                                                  | CUSIP: 67115PAL9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   10000000 | PA      | $10056739.00  | 0.29%             | 2035-10-18      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179WVW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1423716 | PA      | $1284909.96   | 0.04%             | 2052-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CLUE OPCO LLC                                     | Clue Opco LLC                                                                    | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   10314000 | PA      | $10937210.94  | 0.31%             | 2031-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS UNITED RENTALS NORTH AMERICA INC                                             | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-322814.88   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2025-RPL1 LLC                                                               | CUSIP: 74390WAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3613778 | PA      | $3511640.34   | 0.10%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                             | eG Global Finance PLC                                                            | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    2175000 | PA      | $2400656.25   | 0.07%             | 2028-11-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                       | State of Illinois                                                                | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |     754755 | PA      | $757616.96    | 0.02%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CAMERON INTERNATIONAL CO                          | Cameron International Corp                                                       | CUSIP: 13342BAF2<br>LEI: P2PV5Z2Z2UKRY3P3V155 | Long             | DBT              | CORP              | US        |     100000 | PA      | $96653.00     | 0.00%             | 2041-06-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWCQ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1795402 | PA      | $1545098.47   | 0.04%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CGA3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    8210000 | PA      | $8203265.23   | 0.23%             | 2025-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                    | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137BPW39<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   19317942 | PA      | $116709.34    | 0.00%             | 2026-03-25      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                               | NCL Corp Ltd                                                                     | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     589000 | PA      | $589441.75    | 0.02%             | 2026-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS BOMBARDIER INC                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-282225.81   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179W2W7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1046589 | PA      | $943737.28    | 0.03%             | 2052-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD                          | Aptiv Swiss Holdings Ltd                                                         | CUSIP: 03837AAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | JE        |     540000 | PA      | $522587.11    | 0.01%             | 2034-09-13      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Structured Asset Investment Lo                    | Structured Asset Investment Loan Trust 2004-BNC1                                 | CUSIP: 86358EKV7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1376212 | PA      | $1413965.40   | 0.04%             | 2034-09-25      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397D83<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    1035000 | PA      | $1041506.91   | 0.03%             | 2027-03-05      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GWB6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    3940000 | PA      | $3908133.93   | 0.11%             | 2027-01-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                          | Sinclair Television Group Inc                                                    | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |     275000 | PA      | $281241.86    | 0.01%             | 2033-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | BRL CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   -2131000 | NC      | $-505.12      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                 | EURO-SCHATZ                                                                      | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -222 | NC      | $89750.50     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | EUR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |          1 | NC      | $1776925.76   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3133KMQF5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1303589 | PA      | $1094080.09   | 0.03%             | 2046-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                            | Egypt Government International Bond                                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    8700000 | PA      | $8552100.00   | 0.24%             | 2026-02-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VCAT Asset Securitization, LLC                    | VCAT 2025-NPL3 LLC                                                               | CUSIP: 92243QAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    2873110 | PA      | $2873193.33   | 0.08%             | 2055-02-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                   | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    1475000 | PA      | $1350116.90   | 0.04%             | 2031-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                    | Pret 2025-NPL2 LLC                                                               | CUSIP: 69392JAA7<br>LEI: 254900S0KCA0ULKWBW61 | Long             | ABS-O            | CORP              | US        |    5385710 | PA      | $5361223.65   | 0.15%             | 2055-03-25      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TURNPIKE AUTH TU                    | New Jersey Turnpike Authority                                                    | CUSIP: 646139W35<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    2000000 | PA      | $2367407.84   | 0.07%             | 2040-01-01      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                      | New Gold Inc                                                                     | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |     305000 | PA      | $313012.35    | 0.01%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWPS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    5454618 | PA      | $5427231.33   | 0.16%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                           | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAC7<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |     326000 | PA      | $338826.55    | 0.01%             | 2028-02-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: —       |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS BRL PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |    4255000 | NC      | $1.01         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS KRW PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -11836000 | NC      | $-193796.22   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS CDX.EM.43.V1                                                                 | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-2190400.96  | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                              | CUSIP: 912834VM7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     340000 | PA      | $97606.07     | 0.00%             | 2050-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Home Equity Asset Trust                           | Home Equity Asset Trust 2004-7                                                   | CUSIP: 437084FL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     731652 | PA      | $727621.54    | 0.02%             | 2035-01-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CMP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    9580000 | PA      | $9594968.75   | 0.27%             | 2027-02-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | IDR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $53045.74     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS BANK OF MONTREAL                                                             | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $-1143.32     | -0.00%            |  |  |  | No            |                  3 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CHZ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   67260000 | PA      | $69272545.31  | 1.98%             | 2030-09-30      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Ford Credit Floorplan Master O                    | Ford Credit Floorplan Master Owner Trust A                                       | CUSIP: 34528QHV9<br>LEI: 5493001DTG5N7T8BG747 | Long             | ABS-O            | CORP              | US        |    2600000 | PA      | $2608052.98   | 0.07%             | 2028-05-15      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     950000 | PA      | $952826.54    | 0.03%             | 2026-08-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: —       |
| Cuppa Bidco B.V.                                  | CUPPA BIDCO BV                                                                   | CUSIP: 000000000<br>LEI: 254900C8AU9XL3CHKB72 | Long             | LON              | CORP              | NL        |    1000000 | PA      | $954716.51    | 0.03%             | 2029-06-29      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| MAXIM CRANE WORKS LLC                             | Maxim Crane Works Holdings Capital LLC                                           | CUSIP: 57779EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1875000 | PA      | $1988646.73   | 0.06%             | 2028-09-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | SGD/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |          1 | NC      | $155508.13    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EASTERN GAS TRAN                                  | Eastern Gas Transmission & Storage Inc                                           | CUSIP: 276480AD2<br>LEI: H2VQBNB3NSKRM5QWBI71 | Long             | DBT              | CORP              | US        |     125000 | PA      | $105026.96    | 0.00%             | 2044-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Lugo Funding DAC                                  | Lugo Funding DAC                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |    3100000 | PA      | $3441649.68   | 0.10%             | 2066-05-26      | Floating      | 4.05%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | USD/PEN FORWARD                                                                  | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |          1 | NC      | $5486.47      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWNL3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   12107534 | PA      | $12276704.51  | 0.35%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                 | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |     400000 | PA      | $263324.81    | 0.01%             | 2031-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                          | OCP SA                                                                           | CUSIP: 67091TAD7<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |     213000 | PA      | $192117.48    | 0.01%             | 2031-06-23      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: No      |
| MIZRAHI TEFAHOT BANK LTD                          | Mizrahi Tefahot Bank Ltd                                                         | CUSIP: 000000000<br>LEI: YZO9YEGEO4VYDZMDWF93 | Long             | DBT              | CORP              | IL        |    1555000 | PA      | $1525626.05   | 0.04%             | 2031-04-07      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| XPO INC                                           | XPO Inc                                                                          | CUSIP: 98379KAB8<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |     225000 | PA      | $232906.98    | 0.01%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                          | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    1110000 | PA      | $1129480.50   | 0.03%             | 2029-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                            | CUSIP: 071734AD9<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     275000 | PA      | $240281.25    | 0.01%             | 2028-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                              | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    5770000 | PA      | $6383099.75   | 0.18%             | 2027-04-21      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Harvest CLO                                       | Harvest CLO XXXII DAC                                                            | CUSIP: 000000000<br>LEI: 635400AU6OVIWCGACH33 | Long             | ABS-CBDO         | CORP              | IE        |   13750000 | PA      | $15894118.06  | 0.45%             | 2037-07-25      | Floating      | 3.99%                 | No            |                  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        |    2900000 | PA      | $2906597.50   | 0.08%             | 2030-12-16      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/PHP FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-69682.31    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MVM ENERGETIKA ZRT                                | MVM Energetika Zrt                                                               | CUSIP: 000000000<br>LEI: 529900ELI5AQ9F74PF85 | Long             | DBT              | CORP              | HU        |    2330000 | PA      | $2439253.70   | 0.07%             | 2028-06-09      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| POWER FINANCE CORP LTD                            | Power Finance Corp Ltd                                                           | CUSIP: 000000000<br>LEI: 3358003Q6D9LIJJZ1614 | Long             | DBT              | CORP              | IN        |    1100000 | PA      | $1113332.00   | 0.03%             | 2028-08-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                          | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1275000 | PA      | $1263353.18   | 0.04%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F                    | Ford Credit Auto Owner Trust 2023-REV2                                           | CUSIP: 34535CAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1200000 | PA      | $1241173.20   | 0.04%             | 2036-02-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                 | Elevation CLO 2021-12 Ltd                                                        | CUSIP: 28623MAS8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   10000000 | PA      | $10038227.00  | 0.29%             | 2037-04-20      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418FE45<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2484545 | PA      | $2520120.08   | 0.07%             | 2054-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UTAH ACQUISITION SUB                              | Utah Acquisition Sub Inc                                                         | CUSIP: 62854AAP9<br>LEI: 254900JOFV74IJ7H9933 | Long             | DBT              | CORP              | US        |     520000 | PA      | $420065.58    | 0.01%             | 2046-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                            | Rockford Tower CLO 2022-2 Ltd                                                    | CUSIP: 77340LAN0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   11500000 | PA      | $11532051.65  | 0.33%             | 2035-10-20      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                              | OneMain Finance Corp                                                             | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    1200000 | PA      | $1144506.95   | 0.03%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                          | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    1335000 | PA      | $1344118.05   | 0.04%             | 2029-09-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | USD CALL VERSUS JPY PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   -4248000 | NC      | $-156941.97   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | TWD CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   -2127000 | NC      | $-4.89        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                        | CUSIP: 01F060691<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   19500000 | PA      | $19751244.44  | 0.56%             | 2055-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWES8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     262092 | PA      | $249719.78    | 0.01%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                 | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |     360000 | PA      | $373032.45    | 0.01%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                          | First Quantum Minerals Ltd                                                       | CUSIP: 335934AT2<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     766000 | PA      | $765042.50    | 0.02%             | 2027-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| First Franklin Mtg Loan Asset                     | First Franklin Mortgage Loan Trust 2004-FF5                                      | CUSIP: 32027NJU6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     327816 | PA      | $309144.66    | 0.01%             | 2034-08-25      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                              | SCG Commercial Mortgage Trust 2025-DLFN                                          | CUSIP: 78398EAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3925000 | PA      | $3900517.81   | 0.11%             | 2035-03-15      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                    | Pret 2025-NPL7 LLC                                                               | CUSIP: 740934AA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    4700000 | PA      | $4698105.90   | 0.13%             | 2055-07-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | USD/SGD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |          1 | NC      | $359746.07    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                            | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    2040000 | PA      | $2080865.50   | 0.06%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                    | OneMain Financial Issuance Trust 2023-1                                          | CUSIP: 68269JAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     200000 | PA      | $207260.86    | 0.01%             | 2038-06-14      | Fixed         | 7.49%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                          | Jefferies Finance LLC / JFIN Co-Issuer Corp                                      | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     400000 | PA      | $385824.84    | 0.01%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                            | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1375000 | PA      | $1323176.11   | 0.04%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                        | NLT 2025-INV1 Trust                                                              | CUSIP: 62916TAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $180978.16    | 0.01%             | 2070-02-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                           | CUSIP: 77586RAX8<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |   11310000 | PA      | $11310000.00  | 0.32%             | 2036-05-16      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS KINGDOM OF NORWAY                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-1524.32     | -0.00%            |  |  |  | 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        |    5000000 | PA      | $5011457.50   | 0.14%             | 2032-12-20      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                  | MGM Resorts International                                                        | CUSIP: 552953CJ8<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    1800000 | PA      | $1829388.71   | 0.05%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| TFS_18-3                                          | TFS_18-3                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | N/A       |          1 | PA      | $1.14         | 0.00%             | 2040-04-16      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| GS Mortgage Securities Trust                      | GS Mortgage Securities Corportation Trust 2021-IP                                | CUSIP: 36262MAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2130000 | PA      | $2129006.14   | 0.06%             | 2036-10-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                        | BFLD 2024-WRHS Mortgage Trust                                                    | CUSIP: 05555HAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3059090 | PA      | $3051442.51   | 0.09%             | 2026-08-15      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                   | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    1422000 | PA      | $1112715.00   | 0.03%             | 2031-01-12      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                          | Permian Resources Operating LLC                                                  | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    1025000 | PA      | $1047668.95   | 0.03%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWEE9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    4229204 | PA      | $4141411.49   | 0.12%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EWZ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3184440 | PA      | $3023753.85   | 0.09%             | 2053-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/GBP FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-6362.22     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Intelsat SA/Luxembourg                            | Intelsat SA/Luxembourg                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      19703 | NS      | $1.97         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $250053.12    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 912810SF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    4085000 | PA      | $2971199.22   | 0.08%             | 2049-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     139000 | PA      | $131958.46    | 0.00%             | 2033-03-03      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                          | OCP SA                                                                           | CUSIP: 67091TAF2<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    5469000 | PA      | $5687242.63   | 0.16%             | 2034-05-02      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS WEATHERFORD INTERNATIONAL LTD                                                | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-289572.59   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418ECS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     277302 | PA      | $248180.97    | 0.01%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PGIM Ultra Short Bond ETF                         | PGIM Ultra Short Bond ETF                                                        | CUSIP: 69344A107<br>LEI: 549300GB8HES91GNEF23 | Long             | EC               | RF                | US        |    2350000 | NS      | $116959500.00 | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    4266000 | NC      | $414.26       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Structured Asset Securities Co                    | Structured Asset Securities Corp Mortgage Pass-Through Ctfs Ser 2003-37A         | CUSIP: 86359BBZ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     159554 | PA      | $156564.67    | 0.00%             | 2033-12-25      | Variable      | 6.06%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                    | Bombardier Inc                                                                   | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     525000 | PA      | $526968.75    | 0.02%             | 2028-02-15      | Fixed         | 6.00%                 | 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        |    3000000 | PA      | $3035845.50   | 0.09%             | 2055-02-25      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                    | ARES Trust 2025-IND3                                                             | CUSIP: 039955AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3380000 | PA      | $3380000.00   | 0.10%             | 2042-04-15      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                          | Volkswagen Group of America Finance LLC                                          | CUSIP: 928668CR1<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    1750000 | PA      | $1766210.08   | 0.05%             | 2032-03-25      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DVL86<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1579386 | PA      | $1371854.43   | 0.04%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | JPY CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   -6373000 | NC      | $-22393.12    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $-53599.56    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                              | CUSIP: 912834KV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   23665000 | PA      | $10464692.98  | 0.30%             | 2041-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS HALLIBURTON CO                                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $9785.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ClubCorp Holdings Inc                             | CLUBCORP HOLDINGS INC                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1097262 | PA      | $1088264.60   | 0.03%             | 2032-07-10      | Floating      | 9.33%                 | No            |                  3 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | MXN/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $180046.33    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivable                    | OneMain Direct Auto Receivables Trust 2021-1                                     | CUSIP: 682687AD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     200000 | PA      | $197282.70    | 0.01%             | 2030-11-14      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                    | CUSIP: 17308CC53<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     870000 | PA      | $811949.96    | 0.02%             | 2030-11-05      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/IDR FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $1431.09      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS SOFTBANK GROUP CORP                                                          | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $2766.19      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD CALL VERSUS COP PUT                                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |   -2977000 | NC      | $-55657.51    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                                | CA Magnum Holdings                                                               | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    5225000 | PA      | $5183853.13   | 0.15%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TWD PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   -4259000 | NC      | $-29245.95    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS KINGDOM OF SAUDI ARABIA                                                      | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-93720.01    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Clarios Global LP                                 | CLARIOS GLOBAL LP                                                                | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |     675000 | PA      | $675281.48    | 0.02%             | 2032-01-28      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                             | Caesars Entertainment Inc                                                        | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    4575000 | PA      | $4325349.30   | 0.12%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: —       |
| GOLDMAN SACHS INTERNATIONAL                       | CDS GFL ENVIRONMENTAL INC                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-323565.25   | -0.01%            |  |  |  | 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        |      53156 | NS      | $10227.15     | 0.00%             |  |  |  | Yes           |                  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        |    2900000 | PA      | $2929124.12   | 0.08%             | 2035-07-15      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                           | United Rentals North America Inc                                                 | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     325000 | PA      | $295761.59    | 0.01%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS ANTERO RESOURCES CORP                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-315721.79   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                          | Western Midstream Operating LP                                                   | CUSIP: 958254AH7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    4990000 | PA      | $4952743.14   | 0.14%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/SGD FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |          1 | NC      | $185176.79    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                          | Olympus Water US Holding Corp                                                    | CUSIP: 25259KAA8<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    2425000 | PA      | $2543314.20   | 0.07%             | 2028-11-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ZAIS CLO 3, LTD                                   | Zais CLO 3 Ltd                                                                   | CUSIP: 98887HAL8<br>LEI: 549300SYHU0CNKIXQ691 | Long             | ABS-CBDO         | CORP              | KY        |   11300000 | PA      | $11342921.92  | 0.32%             | 2031-07-15      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    2812000 | PA      | $2953132.31   | 0.08%             | 2032-01-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | CNH/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-40435.51    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                    | Wynn Macau Ltd                                                                   | CUSIP: 98313RAD8<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |    1025000 | PA      | $1021156.25   | 0.03%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                         | Boeing Co/The                                                                    | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    9286000 | PA      | $9163466.30   | 0.26%             | 2026-02-04      | Fixed         | 2.20%                 | 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      | $17094787.99  | 0.49%             | 2039-10-15      | Floating      | 3.75%                 | 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        |     111951 | PA      | $61683.33     | 0.00%             | 2064-01-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| Regatta VIII Funding Ltd                          | Regatta VIII Funding Ltd                                                         | CUSIP: 75888KAL8<br>LEI: 2549002R0TTC87W9EH67 | Long             | ABS-CBDO         | CORP              | KY        |   18000000 | PA      | $18075373.20  | 0.52%             | 2037-04-17      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                           | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1650000 | PA      | $1649149.18   | 0.05%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     580000 | PA      | $580209.33    | 0.02%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| ALTA EQUIPMENT GROUP                              | Alta Equipment Group Inc                                                         | CUSIP: 02128LAC0<br>LEI: 549300DGOB28CLGS1X27 | Long             | DBT              | CORP              | US        |     935000 | PA      | $888072.14    | 0.03%             | 2029-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                          | Volkswagen Group of America Finance LLC                                          | CUSIP: 928668CP5<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    8020000 | PA      | $8058131.89   | 0.23%             | 2028-03-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | THREE-MONTH SOFR                                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |        -83 | NC      | $-518.75      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                    | JPMBB Commercial Mortgage Securities Trust 2015-C27                              | CUSIP: 46644ABJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   52766000 | PA      | $527.66       | 0.00%             | 2048-02-15      | Variable      | 0.41%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                | Banco Santander SA                                                               | CUSIP: 05964HBB0<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    2200000 | PA      | $2263514.44   | 0.06%             | 2030-03-14      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EJF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3578970 | PA      | $3500612.51   | 0.10%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                          | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    3646000 | PA      | $3555990.53   | 0.10%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| HUDBAY MINERALS INC                               | Hudbay Minerals Inc                                                              | CUSIP: 443628AJ1<br>LEI: 894500LX3TMESP27BE29 | Long             | DBT              | CORP              | CA        |    1000000 | PA      | $990110.00    | 0.03%             | 2026-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DQD37<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1715370 | PA      | $1754802.92   | 0.05%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                           | United Rentals North America Inc                                                 | CUSIP: 911365BL7<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     700000 | PA      | $698598.52    | 0.02%             | 2030-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWC43<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    7429418 | PA      | $6662673.08   | 0.19%             | 2052-01-01      | Fixed         | 3.50%                 | 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      | $134540.40    | 0.00%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AZ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     500000 | PA      | $480074.64    | 0.01%             | 2032-04-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Barrow Hanley CLO LTD                             | Barrow Hanley CLO III Ltd                                                        | CUSIP: 06875VAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   19500000 | PA      | $19576473.15  | 0.56%             | 2037-04-20      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                          | Diversified Healthcare Trust                                                     | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1000000 | PA      | $835111.04    | 0.02%             | 2031-03-01      | Fixed         | 4.38%                 | 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        |    5030000 | PA      | $4979804.12   | 0.14%             | 2042-03-15      | Floating      | 6.59%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                               | COMM 2015-LC19 Mortgage Trust                                                    | CUSIP: 200474AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  123049000 | PA      | $1230.49      | 0.00%             | 2048-02-10      | Variable      | 0.17%                 | 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        |    9316824 | PA      | $12333191.01  | 0.35%             | 2032-01-23      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                            | CUSIP: 071734AM9<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     275000 | PA      | $190027.75    | 0.01%             | 2029-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| NMLT Trust                                        | NLT 2025-INV1 Trust                                                              | CUSIP: 62916TAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    6987711 | PA      | $6987686.46   | 0.20%             | 2070-02-25      | Variable      | 5.51%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | PHP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-125562.79   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF COTE D'IVOIRE                                                    | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $210812.62    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                    | Carlyle Euro CLO 2019-1 DAC                                                      | CUSIP: 000000000<br>LEI: 635400YFJCERZ9QJKR15 | Long             | ABS-CBDO         | CORP              | IE        |    1361715 | PA      | $1551358.19   | 0.04%             | 2032-03-15      | Floating      | 2.73%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | CZK/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |          1 | NC      | $210063.22    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TOTAL PLAY TELECOM                                | Total Play Telecomunicaciones SA de CV                                           | CUSIP: 89157PAD0<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |     696000 | PA      | $668557.56    | 0.02%             | 2032-12-31      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | TWD CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |    2127000 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | USD CALL VERSUS EUR PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   10818000 | NC      | $0.17         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF PERU                                                             | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-34547.97    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                          | Diversified Healthcare Trust                                                     | CUSIP: 81721MAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      25000 | PA      | $23170.79     | 0.00%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Credit-Based Asset Servicing a                    | Credit-Based Asset Servicing and Securitization LLC                              | CUSIP: 12489WGJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      42488 | PA      | $41053.89     | 0.00%             | 2032-12-25      | Variable      | 3.38%                 | No            |                  2 | On Loan: No      |
| Atlas Static Senior Loan Fund                     | Atlas Static Senior Loan Fund I Ltd                                              | CUSIP: 04942PAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    1098831 | PA      | $1098813.68   | 0.03%             | 2030-07-15      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $419502.86    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 817477AJ1<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    1942000 | PA      | $1976587.02   | 0.06%             | 2034-06-12      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    1778000 | PA      | $1870685.97   | 0.05%             | 2029-06-26      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac REMICS                                                               | CUSIP: 3137HLZC9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    7058004 | PA      | $7062691.60   | 0.20%             | 2055-06-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                               | CUSIP: 29279FAA7<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      75000 | PA      | $73996.02     | 0.00%             | 2049-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    2130000 | NC      | $995.48       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS PETROLEOS MEXICANOS                                                          | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $89290.62     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| WELLS FARGO & COMPANY                             | Wells Fargo & Co                                                                 | CUSIP: 95000U3A9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    6475000 | PA      | $6509624.74   | 0.19%             | 2028-07-25      | Fixed         | 4.81%                 | Yes           |                  2 | On Loan: No      |
| AlbaCore Euro CLO                                 | AlbaCore EURO CLO II DAC                                                         | CUSIP: 000000000<br>LEI: 549300WN8XXHR94EX575 | Long             | ABS-CBDO         | CORP              | IE        |    1000000 | PA      | $1141673.48   | 0.03%             | 2034-06-15      | Floating      | 3.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS FEDERAL REPUBLIC OF NIGERIA                                                  | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $297423.94    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BW1<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     845000 | PA      | $851211.17    | 0.02%             | 2031-09-30      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS KINGDOM OF MOROCCO                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-171345.67   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWNK5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   29225118 | PA      | $29078385.32  | 0.83%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BELLIS ACQUISITION CO PL                          | Bellis Acquisition Co PLC                                                        | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |    6950000 | PA      | $8710872.03   | 0.25%             | 2030-05-14      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF SERBIA                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-5597.04     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    2650000 | PA      | $2634729.38   | 0.08%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS STANDARD BUILDING SOLUTIONS INC                                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-320617.95   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                    | Bombardier Inc                                                                   | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     524000 | PA      | $525310.00    | 0.02%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | 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        |      -2452 | NC      | $822080.85    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DIG INTL FIN/DIFL US LLC                          | Digicel International Finance Ltd / Difl US LLC                                  | CUSIP: 25381MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    3240000 | PA      | $3263652.00   | 0.09%             | 2032-08-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                                | Voyager Parent LLC                                                               | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |    1255000 | PA      | $1327908.29   | 0.04%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin                    | Santander Bank Auto Credit-Linked Notes Series 2022-C                            | CUSIP: 80290CBJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       3141 | PA      | $3147.19      | 0.00%             | 2032-12-15      | Fixed         | 11.37%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EKT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3399253 | PA      | $3230687.73   | 0.09%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SELECT MEDICAL CORP                               | Select Medical Corp                                                              | CUSIP: 816196AV1<br>LEI: 549300X05KS0JKR8CB50 | Long             | DBT              | CORP              | US        |     495000 | PA      | $494648.89    | 0.01%             | 2032-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| LIBERTY MUTUAL GROUP INC                          | Liberty Mutual Group Inc                                                         | CUSIP: 53079EBG8<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |    1614000 | PA      | $1611622.41   | 0.05%             | 2029-02-01      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | BRL CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |    2131000 | NC      | $0.01         | 0.00%             |  |  |  | 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        |     397865 | PA      | $398462.49    | 0.01%             | 2032-07-29      | Fixed         | 6.97%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF PANAMA                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $62928.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Elmwood CLO 29 Ltd                                | Elmwood CLO 29 Ltd                                                               | CUSIP: 289913AC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   10000000 | PA      | $10039854.00  | 0.29%             | 2037-04-20      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| LD CELULOSE INTERNATIONA                          | LD Celulose International GmbH                                                   | CUSIP: 50206BAA0<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |    3085000 | PA      | $3225367.50   | 0.09%             | 2032-01-26      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                           | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1375000 | PA      | $1388482.11   | 0.04%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                                 | Generate CLO 4 Ltd                                                               | CUSIP: 37148BAC4<br>LEI: 549300HNXZUJB12SQJ60 | Long             | ABS-CBDO         | CORP              | KY        |   13395000 | PA      | $13440541.66  | 0.38%             | 2037-07-20      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| Eagle Re Ltd                                      | Eagle RE 2021-2 Ltd                                                              | CUSIP: 26982AAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |     502675 | PA      | $506245.26    | 0.01%             | 2034-04-25      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                            | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1075000 | PA      | $1011426.60   | 0.03%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | USD CALL VERSUS CNH PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   50667000 | NC      | $80950.21     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                  | MGM Resorts International                                                        | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    2400000 | PA      | $2369811.37   | 0.07%             | 2028-10-15      | Fixed         | 4.75%                 | 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        |    5000000 | PA      | $5721369.11   | 0.16%             | 2038-01-22      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                               | NCL Corp Ltd                                                                     | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    1700000 | PA      | $1797614.00   | 0.05%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| OHIO ST UNIV                                      | Ohio State University/The                                                        | CUSIP: 677632PA3<br>LEI: JFC10ZULKO4X2E3HBY86 | Long             | DBT              | MUN               | US        |     180000 | PA      | $148385.07    | 0.00%             | 2111-06-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3133USKU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     924482 | PA      | $761974.76    | 0.02%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                   | Danske Bank A/S                                                                  | CUSIP: 23636ABJ9<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    3745000 | PA      | $3724872.50   | 0.11%             | 2030-10-02      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| AGCO CORP                                         | AGCO Corp                                                                        | CUSIP: 001084AR3<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | DBT              | CORP              | US        |     850000 | PA      | $857896.22    | 0.02%             | 2027-03-21      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                             | Duke Energy Carolinas LLC                                                        | CUSIP: 26442CAN4<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |      50000 | PA      | $41117.62     | 0.00%             | 2042-09-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | PLN/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-38582.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Asset Backed Securities Corp H                    | Asset Backed Securities Corp Home Equity Loan Trust Series 2003-HE6              | CUSIP: 04541GGM8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3176816 | PA      | $3246140.77   | 0.09%             | 2033-11-25      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| SOLVAY FINANCE (AMERICA)                          | Syensqo Finance America LLC                                                      | CUSIP: 834423AE5<br>LEI: 54930073OEL5K0Y7NK81 | Long             | DBT              | CORP              | US        |    3060000 | PA      | $3151026.43   | 0.09%             | 2029-06-04      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| Enterprise Fleet Financing LLC                    | Enterprise Fleet Financing 2023-2 LLC                                            | CUSIP: 29375NAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1134748 | PA      | $1140713.75   | 0.03%             | 2030-04-22      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/MXN FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-109099.59   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397C92<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     625000 | PA      | $644687.38    | 0.02%             | 2028-05-12      | Fixed         | 6.80%                 | 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        |    9462037 | PA      | $9386137.00   | 0.27%             | 2061-01-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                              | Colombia Government International Bond                                           | CUSIP: 195325EG6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |    1375000 | PA      | $1395625.00   | 0.04%             | 2034-02-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                            | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    3300000 | PA      | $3408838.90   | 0.10%             | 2030-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Lumen Technologies, Inc.                          | LUMEN TECHNOLOGIES INC                                                           | CUSIP: 55024EAF2<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | LON              | CORP              | US        |    1795424 | PA      | $1784202.78   | 0.05%             | 2029-04-15      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                             | Freeport Indonesia PT                                                            | CUSIP: 000000000<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |     600000 | PA      | $603000.00    | 0.02%             | 2032-04-14      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Peer Holding III BV                               | PEER HOLDING III BV                                                              | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |    4200000 | PA      | $4797833.04   | 0.14%             | 2031-07-01      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| COPT DEFENSE PROP LP                              | COPT Defense Properties LP                                                       | CUSIP: 22003BAN6<br>LEI: H0TWO5VRNEP6CQAWPX27 | Long             | DBT              | CORP              | US        |    2170000 | PA      | $1982249.22   | 0.06%             | 2029-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: —       |
| RCO Mortgage LLC                                  | RCO VIII Mortgage LLC 2025-3                                                     | CUSIP: 74939GAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    6517328 | PA      | $6521430.21   | 0.19%             | 2030-05-25      | Variable      | 6.43%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2021-DNA6                                          | CUSIP: 35564KKY4<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |    1364408 | PA      | $1370461.75   | 0.04%             | 2041-10-25      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                      | UBS Group AG                                                                     | CUSIP: 902613AE8<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    3100000 | PA      | $2677544.09   | 0.08%             | 2032-02-11      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179VVX5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    8870190 | PA      | $7163598.14   | 0.20%             | 2050-10-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                     | DISH DBS Corp                                                                    | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     350000 | PA      | $268573.15    | 0.01%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| LINCOLN NATIONAL CORP                             | Lincoln National Corp                                                            | CUSIP: 534187BA6<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | DBT              | CORP              | US        |      32000 | PA      | $35213.85     | 0.00%             | 2040-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                             | LEVEL 3 FINANCING INC                                                            | CUSIP: 52729KAT3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |     975000 | PA      | $978900.00    | 0.03%             | 2032-03-27      | Floating      | 8.61%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                                    | Romark WM-R Ltd                                                                  | CUSIP: 77587AAC0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     593326 | PA      | $594209.44    | 0.02%             | 2031-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 29 Ltd                                | Elmwood CLO 29 Ltd                                                               | CUSIP: 289913AG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   10000000 | PA      | $10063585.00  | 0.29%             | 2037-04-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    3000000 | PA      | $2926406.78   | 0.08%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS KINGDOM OF MOROCCO                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-22430.56    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Trust 2024-PAT                                                                | CUSIP: 05612FAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5600000 | PA      | $5601809.92   | 0.16%             | 2041-03-15      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                             | Tenet Healthcare Corp                                                            | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    1200000 | PA      | $1277673.33   | 0.04%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                          | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     100000 | PA      | $102728.00    | 0.00%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PRECISION DRILLING CORP                           | Precision Drilling Corp                                                          | CUSIP: 740212AL9<br>LEI: 549300WF2OE8T5BP4B84 | Long             | DBT              | CORP              | CA        |     225000 | PA      | $224122.50    | 0.01%             | 2026-01-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: —       |
| OneMain Direct Auto Receivable                    | OneMain Direct Auto Receivables Trust 2025-1                                     | CUSIP: 682684AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    4600000 | PA      | $4660940.34   | 0.13%             | 2037-07-14      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| STATE OF MINAS GERAIS                             | Brazil Minas SPE via State of Minas Gerais                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |     987000 | PA      | $978679.59    | 0.03%             | 2028-02-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Codere Group Topco S.A. A1 Equity                 | Codere Group Topco S.A. A1 Equity                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | N/A       |      10406 | NS      | $237506.54    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | SWOP IRS USD                                                                     | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              | CORP              | DE        |   -9770000 | OU      | $-5111.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS SAFEWAY INC                                                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-329792.41   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EBT6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     447739 | PA      | $383950.39    | 0.01%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                              | Boots Group Finco LP                                                             | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |     500000 | PA      | $582702.43    | 0.02%             | 2032-08-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Ltd                 | DLLTD PIK-TERM B 1L USD                                                          | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | LC        |     197342 | PA      | $196355.71    | 0.01%             | 2027-05-25      | Floating      | 11.81%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179XDE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    5764635 | PA      | $5517527.22   | 0.16%             | 2052-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | CNH/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $333033.65    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF SOUTH AFRICA                                                     | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-110111.61   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                | Howard Hughes Corp/The                                                           | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    1375000 | PA      | $1366872.72   | 0.04%             | 2028-08-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                               | Medline Borrower LP                                                              | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    1710000 | PA      | $1630727.65   | 0.05%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179XDD5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    6021651 | PA      | $5593612.92   | 0.16%             | 2052-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $-222822.11   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| WOLVERINE WORLD WIDE                              | Wolverine World Wide Inc                                                         | CUSIP: 978097AG8<br>LEI: 549300OVC7PK14LQ8D87 | Long             | DBT              | CORP              | US        |     825000 | PA      | $743319.36    | 0.02%             | 2029-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WSH Services Holding Ltd                          | WSH SERVICES HOLDING LTD                                                         | CUSIP: 000000000<br>LEI: 213800Q4GRDGCYS3TU11 | Long             | LON              | CORP              | GB        |     275000 | PA      | $363254.29    | 0.01%             | 2031-05-16      | Floating      | 8.72%                 | No            |                  2 | On Loan: No      |
| JACOBS ENTERTAINMENT INC                          | Jacobs Entertainment Inc                                                         | CUSIP: 469815AK0<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |     800000 | PA      | $779663.34    | 0.02%             | 2029-02-15      | Fixed         | 6.75%                 | No            |                  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      | $239037.72    | 0.01%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                  | Beazer Homes USA Inc                                                             | CUSIP: 07556QBT1<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    3475000 | PA      | $3496419.18   | 0.10%             | 2029-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AlbaCore Euro CLO                                 | AlbaCore EURO CLO II DAC                                                         | CUSIP: 000000000<br>LEI: 549300WN8XXHR94EX575 | Long             | ABS-CBDO         | CORP              | IE        |    4000000 | PA      | $4566693.94   | 0.13%             | 2034-06-15      | Floating      | 3.62%                 | No            |                  2 | On Loan: No      |
| Fremont Home Loan Trust                           | Fremont Home Loan Trust 2004-4                                                   | CUSIP: 35729PGT1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1209428 | PA      | $1142858.61   | 0.03%             | 2035-03-25      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Arbour CLO                                        | Arbour CLO IV DAC                                                                | CUSIP: 000000000<br>LEI: 635400DBGXHI7ZJXYU29 | Long             | ABS-CBDO         | CORP              | IE        |    5000000 | PA      | $5702757.28   | 0.16%             | 2034-04-15      | Floating      | 3.33%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418EES5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3848408 | PA      | $3556688.71   | 0.10%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                          | Benchmark 2023-V3 Mortgage Trust                                                 | CUSIP: 08163VAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   50571125 | PA      | $1086657.17   | 0.03%             | 2056-07-15      | Variable      | 0.81%                 | No            |                  2 | On Loan: No      |
| LAUREL ROAD PRIME STUDENT LOAN TRUST 2018-D       | LAUREL ROAD PRIME STUDENT LOAN TRUST 2018-D                                      | CUSIP: 51889BAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1599130 | PA      | $1514096.43   | 0.04%             | 2043-11-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS PG&E CORP                                                                    | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-231588.38   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWE74<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    6777569 | PA      | $6598072.06   | 0.19%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF ARGENTINA                                                        | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $511872.89    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CGB1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   11595000 | PA      | $11566918.36  | 0.33%             | 2029-12-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DIGICEL GROUP HOLDINGS                            | Digicel Group Holdings Ltd                                                       | CUSIP: 25381HAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     128950 | PA      | $12.90        | 0.00%             | 2030-12-31      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| LBA Trust                                         | LBA Trust 2024-BOLT                                                              | CUSIP: 50177BAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2930000 | PA      | $2926337.50   | 0.08%             | 2039-06-15      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWC92<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     842772 | PA      | $756580.68    | 0.02%             | 2052-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                    | Whirlpool Corp                                                                   | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     275000 | PA      | $274354.50    | 0.01%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                            | CUSIP: 25714PEZ7<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    3340000 | PA      | $3391770.00   | 0.10%             | 2036-06-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418D2N1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     466237 | PA      | $401910.71    | 0.01%             | 2051-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 912810SK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   72235000 | PA      | $45846651.56  | 1.31%             | 2049-11-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                 | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    1000000 | PA      | $467612.95    | 0.01%             | 2030-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                     | Citigroup Mortgage Loan Trust 2024-RP2                                           | CUSIP: 173106AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    6973498 | PA      | $6612923.44   | 0.19%             | 2063-02-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWEB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     980348 | PA      | $931595.71    | 0.03%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                          | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    1325000 | PA      | $1361167.20   | 0.04%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179YRG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     897600 | PA      | $878591.78    | 0.03%             | 2054-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                        | DaVita Inc                                                                       | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    4450000 | PA      | $4246775.70   | 0.12%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS UNITEDHEALTH GROUP INC                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $14151.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PGIM Floating Rate Income ETF                     | PGIM Floating Rate Income ETF                                                    | CUSIP: 69344A883<br>LEI: 549300CYXIT4H0WK8H76 | Long             | EC               | RF                | US        |      50000 | NS      | $2517250.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BX Trust                                          | BX Commercial Mortgage Trust 2025-SPOT                                           | CUSIP: 12433FAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4000000 | PA      | $4000028.80   | 0.11%             | 2040-04-15      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                              | Targa Resources Corp                                                             | CUSIP: 87612GAE1<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |     316000 | PA      | $330859.63    | 0.01%             | 2029-03-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                         | Boeing Co/The                                                                    | CUSIP: 097023DB8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    5555000 | PA      | $5378549.06   | 0.15%             | 2028-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    2890000 | PA      | $3056716.70   | 0.09%             | 2028-09-23      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418ENL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2935169 | PA      | $2984072.25   | 0.09%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LTD                            | Eskom Holdings SOC Ltd                                                           | CUSIP: 000000000<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |     213000 | PA      | $216371.79    | 0.01%             | 2028-08-10      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Zegona Holdco Limited                             | ZEGONA HOLDCO LTD                                                                | CUSIP: 000000000<br>LEI: 213800UXDFOAHVOOVX08 | Long             | LON              | CORP              | GB        |    6100000 | PA      | $6958834.81   | 0.20%             | 2029-07-17      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Warwick Capital CLO Ltd                           | Warwick Capital CLO 2 Ltd                                                        | CUSIP: 936557AA5<br>LEI: 254900MNDJAT8Y3XZ919 | Long             | ABS-CBDO         | CORP              | JE        |   12500000 | PA      | $12574027.50  | 0.36%             | 2037-01-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS KRW PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   11836000 | NC      | $18.90        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                          | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     680000 | PA      | $723124.98    | 0.02%             | 2031-02-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: —       |
| BARCLAYS PLC                                      | Barclays PLC                                                                     | CUSIP: 06738ECX1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    6800000 | PA      | $6872363.56   | 0.20%             | 2029-02-25      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| PREEM HOLDING AB                                  | Preem Holdings AB                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | SE        |    1760000 | PA      | $2064147.78   | 0.06%             | 2027-06-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS EMIRATE OF ABU DHABI                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-65496.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 912810TH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    5630000 | PA      | $4606923.44   | 0.13%             | 2042-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/INR FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-101829.04   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                  | CIFC Funding 2015-I Ltd                                                          | CUSIP: 12548MBF1<br>LEI: 5493001TP5YQV9X08Z14 | Long             | ABS-CBDO         | CORP              | KY        |    2537071 | PA      | $2538912.33   | 0.07%             | 2031-01-22      | Floating      | 5.70%                 | 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        |     771804 | PA      | $781710.11    | 0.02%             | 2031-12-26      | Floating      | 7.95%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   -4259000 | NC      | $-28698.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                 | Battalion CLO X Ltd                                                              | CUSIP: 07132JBC7<br>LEI: 549300RRK5G3IT4Y7N27 | Long             | ABS-CBDO         | CORP              | KY        |    4740000 | PA      | $4745559.07   | 0.14%             | 2035-01-25      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                       | Vistra Corp                                                                      | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    4125000 | PA      | $4208602.32   | 0.12%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                          | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1710000 | PA      | $1739862.82   | 0.05%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: —       |
| ROCC Trust                                        | ROCK Trust 2024-CNTR                                                             | CUSIP: 74970WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4435000 | PA      | $4665177.83   | 0.13%             | 2041-11-13      | Fixed         | 8.82%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF SOUTH AFRICA                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $327096.19    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Jubilee CDO BV                                    | Jubilee CLO 2018-XXI DAC                                                         | CUSIP: 000000000<br>LEI: 635400VJFOACD7V4YS84 | Long             | ABS-CBDO         | CORP              | IE        |   10000000 | PA      | $11323544.45  | 0.32%             | 2035-04-15      | Floating      | 3.43%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS ORGANON & CO                                                                 | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-169897.07   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                             | Freedom Mortgage Corp                                                            | CUSIP: 35640YAK3<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |     175000 | PA      | $187105.64    | 0.01%             | 2028-10-01      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                    | CUSIP: 17327CBC6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    4042000 | PA      | $4084770.16   | 0.12%             | N/A             | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     600000 | PA      | $584784.76    | 0.02%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                    | CUSIP: 172967PK1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    6365000 | PA      | $6513896.81   | 0.19%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                           | Mong Duong Finance Holdings BV                                                   | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |     877493 | PA      | $857450.89    | 0.02%             | 2029-05-07      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                     | Citigroup Mortgage Loan Trust Inc                                                | CUSIP: 17307GNR5<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-O            | CORP              | US        |     136402 | PA      | $126497.82    | 0.00%             | 2035-02-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/TWD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-142898.05   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CASSA DEPOSITI E PRESTIT                          | Cassa Depositi e Prestiti SpA                                                    | CUSIP: 147918AC0<br>LEI: 81560029E2CE4D14F425 | Long             | DBT              | NUSS              | IT        |    2200000 | PA      | $2287303.26   | 0.07%             | 2029-04-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CBOE FUTURES EXCHANGE, LLC                        | IBIG IBOXX ISHR                                                                  | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               | CORP              | US        |       -840 | NC      | $-536251.17   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                      | USD/PEN FORWARD                                                                  | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-32190.49    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CELLNEX TELECOM SA                                | Cellnex Telecom SA                                                               | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | DBT              | CORP              | ES        |     700000 | PA      | $744351.12    | 0.02%             | 2030-10-23      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                            | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     275000 | PA      | $176000.00    | 0.01%             | 2030-01-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| BOMBARDIER INC                                    | Bombardier Inc                                                                   | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |     450000 | PA      | $461250.00    | 0.01%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/KRW FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-76453.89    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS POST HOLDINGS INC                                                            | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-290201.04   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS KINGDOM OF BAHRAIN                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $62670.61     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    4320000 | PA      | $4545198.75   | 0.13%             | 2029-06-26      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 3140XKEA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     637511 | PA      | $590759.07    | 0.02%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS BRL PUT                                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   -4255000 | NC      | $-49784.77    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | USD/ZAR FORWARD                                                                  | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-160370.59   | -0.00%            |  |  |  | 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        |     845665 | PA      | $818769.56    | 0.02%             | 2057-03-20      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/SGD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $41054.65     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/BRL FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |          1 | NC      | $70268.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Affirm Inc                                        | Affirm Asset Securitization Trust 2024-X2                                        | CUSIP: 00833QAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    4200000 | PA      | $4221517.86   | 0.12%             | 2029-12-17      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS KRW PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    4249000 | NC      | $22.13        | 0.00%             |  |  |  | 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        |     799332 | PA      | $814542.70    | 0.02%             | 2047-06-25      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| DUPONT DE NEMOURS INC                             | DuPont de Nemours Inc                                                            | CUSIP: 26078JAD2<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |    4070000 | PA      | $4118002.65   | 0.12%             | 2028-11-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Sunrun Issuer                                     | Sunrun Vesta Issuer 2024-3 LLC                                                   | CUSIP: 86773AAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     822918 | PA      | $795625.96    | 0.02%             | 2059-10-30      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                        | Affirm Asset Securitization Trust 2024-B                                         | CUSIP: 00835AAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1250000 | PA      | $1252506.13   | 0.04%             | 2029-09-15      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                          | Camelot Return Merger Sub Inc                                                    | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1875000 | PA      | $1724119.52   | 0.05%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $-181077.42   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                | INR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-395179.32   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| TOTAL PLAY TELECOM                                | Total Play Telecomunicaciones SA de CV                                           | CUSIP: 000000000<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |    1140000 | PA      | $1095051.17   | 0.03%             | 2032-12-31      | Fixed         | 11.12%                | 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        |       -703 | NC      | $-37688.37    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF COLOMBIA                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $301466.01    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AUTONATION INC                                    | AutoNation Inc                                                                   | CUSIP: 05329WAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    4122000 | PA      | $4046026.65   | 0.12%             | 2027-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                    | JPMCC Commercial Mortgage Securities Trust 2017-JP6                              | CUSIP: 48128KAU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5000000 | PA      | $4832445.00   | 0.14%             | 2050-07-15      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS UBER TECHNOLOGIES INC                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-336155.71   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | KRW/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-319107.75   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                            | General Motors Financial Co Inc                                                  | CUSIP: 37045XEX0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    2355000 | PA      | $2384992.33   | 0.07%             | 2027-07-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                              | Boots Group Finco LP                                                             | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |     925000 | PA      | $1242875.44   | 0.04%             | 2032-08-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS MXN PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   -3846000 | NC      | $-16883.55    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Tikehau US CLO Ltd                                | Tikehau US CLO V Ltd                                                             | CUSIP: 88675YAA2<br>LEI: 254900B2V9LYKTKKHF52 | Long             | ABS-CBDO         | CORP              | BM        |   13250000 | PA      | $13320565.53  | 0.38%             | 2036-01-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| AUTONATION INC                                    | AutoNation Inc                                                                   | CUSIP: 05329WAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    4000000 | PA      | $3710124.15   | 0.11%             | 2028-08-01      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | PEN/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-30181.87    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LTD                            | Eskom Holdings SOC Ltd                                                           | CUSIP: 29646AAC0<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |    1337000 | PA      | $1358164.71   | 0.04%             | 2028-08-10      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TWD PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    4259000 | NC      | $133.17       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                    | Carlyle Euro CLO 2022-5 DAC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |    6000000 | PA      | $6913266.58   | 0.20%             | 2037-04-25      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                      | Hudson Yards 2025-SPRL Mortgage Trust                                            | CUSIP: 44855PAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2575000 | PA      | $2650779.42   | 0.08%             | 2040-01-13      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                               | NCL Corp Ltd                                                                     | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     995000 | PA      | $1017387.50   | 0.03%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   -2130000 | NC      | $-14043.23    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Tenneco Inc                                       | TENNECO INC                                                                      | CUSIP: 88037HAP9<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |    3900000 | PA      | $3847767.30   | 0.11%             | 2028-11-17      | Floating      | 9.41%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                               | CDW LLC / CDW Finance Corp                                                       | CUSIP: 12513GBD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    4010000 | PA      | $3970786.50   | 0.11%             | 2028-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                          | Windstream Services LLC / Windstream Escrow Finance Corp                         | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     345000 | PA      | $361460.15    | 0.01%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/BRL FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $307053.02    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | SWOP CDS CDX.NA.IG.44.V1                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              | CORP              | US        | -407760000 | OU      | $-216982.94   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                           | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AL3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    2770000 | PA      | $2797084.18   | 0.08%             | 2029-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO                               | MidOcean Credit CLO III                                                          | CUSIP: 59802UAN9<br>LEI: 549300XSCUX0ONI5KZ96 | Long             | ABS-CBDO         | CORP              | KY        |   11083210 | PA      | $11105801.69  | 0.32%             | 2031-04-21      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                               | CUSIP: 29273VBD1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    2690000 | PA      | $2742369.92   | 0.08%             | 2030-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| ESKOM HOLDINGS SOC LTD                            | Eskom Holdings SOC Ltd                                                           | CUSIP: 000000000<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |    3984000 | PA      | $4203120.00   | 0.12%             | 2028-08-10      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    1637000 | PA      | $1634545.15   | 0.05%             | 2029-02-22      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SONA FIOS CLO                                     | Sona Fios CLO I DAC                                                              | CUSIP: 000000000<br>LEI: 635400DKZUMF3VS6WZ22 | Long             | ABS-CBDO         | CORP              | IE        |   13250000 | PA      | $15151999.16  | 0.43%             | 2036-07-15      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                      | Calpine Corp                                                                     | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    2695000 | PA      | $2666996.26   | 0.08%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                               | Affirm Master Trust                                                              | CUSIP: 00833BAK4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    9500000 | PA      | $9506402.05   | 0.27%             | 2033-07-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                        | CUSIP: 01F050684<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    8500000 | PA      | $8272180.28   | 0.24%             | 2055-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ClubCorp Holdings Inc                             | CLUBCORP HLDGS INC                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      71561 | PA      | $70973.78     | 0.00%             | 2032-07-10      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                           | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     125000 | PA      | $130031.18    | 0.00%             | 2032-02-15      | Fixed         | 8.50%                 | 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        |    3700000 | PA      | $3851459.13   | 0.11%             | 2033-02-14      | Fixed         | 7.07%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                   | Gen Digital Inc                                                                  | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    1494000 | PA      | $1523370.36   | 0.04%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                         | Towd Point Mortgage Trust 2024-CES1                                              | CUSIP: 89183CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     470667 | PA      | $471479.81    | 0.01%             | 2064-01-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS HUB INTERNATIONAL LTD                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-311959.99   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | US ULTRA BOND CBT                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -1547 | NC      | $-4021367.91  | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CKX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   38500000 | PA      | $38957187.50  | 1.11%             | 2029-06-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | ZAR CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   -2555000 | NC      | $-6099.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| 20 TSQ GroundCo LLC                               | 20 Times Square Trust 2018-20TS                                                  | CUSIP: 90137LAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2700000 | PA      | $2335500.00   | 0.07%             | 2035-05-15      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DVL94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     906870 | PA      | $756292.16    | 0.02%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FALABELLA SA                                      | Falabella SA                                                                     | CUSIP: 30607FAA8<br>LEI: 5493004CKJQ7H391LM41 | Long             | DBT              | CORP              | CL        |    1805000 | PA      | $1573960.00   | 0.04%             | 2032-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                              | Pilgrim's Pride Corp                                                             | CUSIP: 72147KAK4<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |    2270000 | PA      | $2384822.75   | 0.07%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD CALL VERSUS CNH PUT                                                          | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | DE        |  -50667000 | NC      | $-80950.21    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS CITIGROUP INC                                                                | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |          1 | NC      | $12382.53     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/ZAR FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |          1 | NC      | $26418.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                      | Novelis Corp                                                                     | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     700000 | PA      | $720808.49    | 0.02%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Penta CLO S.A.                                    | Penta CLO 5 DAC                                                                  | CUSIP: 000000000<br>LEI: 635400CJ99MQCYBUGV50 | Long             | ABS-CBDO         | CORP              | IE        |   10000000 | PA      | $11429405.58  | 0.33%             | 2035-04-20      | Floating      | 3.57%                 | No            |                  2 | On Loan: No      |
| TFS_18-3-A1                                       | TFS_18-3-A1                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | LU        |    3192488 | PA      | $2714234.37   | 0.08%             | 2026-03-15      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Towd Point Mortgage Trust                         | Towd Point Mortgage Trust 2024-CES5                                              | CUSIP: 89183QAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    3750000 | PA      | $3741567.00   | 0.11%             | 2064-09-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2021-DNA7                                          | CUSIP: 35564KMH9<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100719.00    | 0.00%             | 2041-11-25      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                | Expand Energy Corp                                                               | CUSIP: 845467AT6<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    1775000 | PA      | $1723989.38   | 0.05%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| COREWEAVE INC                                     | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |     595000 | PA      | $598023.85    | 0.02%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: —       |
| NABORS INDUSTRIES INC                             | Nabors Industries Inc                                                            | CUSIP: 62957HAP0<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    1725000 | PA      | $1708802.89   | 0.05%             | 2030-01-31      | Fixed         | 9.12%                 | No            |                  2 | On Loan: —       |
| Chase Funding Mortgage Loan As                    | Chase Funding Trust Series 2002-3                                                | CUSIP: 161546DB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     207984 | PA      | $205071.64    | 0.01%             | 2032-08-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                                       | Tenneco Inc                                                                      | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |    5600000 | PA      | $5559234.94   | 0.16%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                               | COMM 2024-277P Mortgage Trust                                                    | CUSIP: 12654FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1600000 | PA      | $1675194.40   | 0.05%             | 2044-08-10      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| MENLO CLO                                         | Menlo CLO I Ltd                                                                  | CUSIP: 586915AE0<br>LEI: 2549005RHPY3C68SIP61 | Long             | ABS-CBDO         | CORP              | KY        |   12500000 | PA      | $12570005.00  | 0.36%             | 2038-01-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179Y5L4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    5877937 | PA      | $5867758.59   | 0.17%             | 2054-08-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                     | Carnival Corp                                                                    | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |     125000 | PA      | $120931.19    | 0.00%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                         | Anchorage Capital Clo 11 Ltd                                                     | CUSIP: 03330NAU8<br>LEI: 549300NPGT86ACOLIL14 | Long             | ABS-CBDO         | CORP              | KY        |   16000000 | PA      | $16071688.00  | 0.46%             | 2037-07-22      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                  | CUSIP: 31418ED80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    3157600 | PA      | $2918402.82   | 0.08%             | 2052-06-01      | Fixed         | 4.00%                 | 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        |     377067 | PA      | $269653.05    | 0.01%             | 2064-01-25      | Variable      | 4.03%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS ADT SECURITY CORP/THE                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-308152.05   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Monument CLO                                      | Monument Clo 1 DAC                                                               | CUSIP: 000000000<br>LEI: 254900PSVC5Y0GWN0R36 | Long             | ABS-CBDO         | CORP              | IE        |    4150000 | PA      | $4796612.86   | 0.14%             | 2037-05-15      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                             | Quikrete Holdings Inc                                                            | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |     240000 | PA      | $246193.62    | 0.01%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                    | Bravo Residential Funding Trust 2025-Ces1                                        | CUSIP: 10569PAA4<br>LEI: 254900AZU85EXAPTTF77 | Long             | ABS-MBS          | CORP              | US        |     381736 | PA      | $383812.15    | 0.01%             | 2055-02-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2013-1 A PTT                           | United Airlines 2013-1 Class A Pass Through Trust                                | CUSIP: 909319AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1172220 | PA      | $1171748.32   | 0.03%             | 2025-08-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: —       |
| GOLDMAN SACHS INTERNATIONAL                       | CDS FRONTIER COMMUNICATIONS HOLDINGS LLC                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-332171.29   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HECLA MINING CO                                   | Hecla Mining Co                                                                  | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |    1200000 | PA      | $1211905.87   | 0.03%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    2043000 | PA      | $2331471.60   | 0.07%             | 2027-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2021-HQA3                                          | CUSIP: 35564KJP5<br>LEI: 5493000ISHRHX47NOH65 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100875.00    | 0.00%             | 2041-09-25      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DVMA0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     508295 | PA      | $442186.60    | 0.01%             | 2052-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                            | MGM China Holdings Ltd                                                           | CUSIP: 55300RAG6<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |     700000 | PA      | $693875.00    | 0.02%             | 2027-02-01      | Fixed         | 4.75%                 | 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        |   10000000 | PA      | $10046270.00  | 0.29%             | 2037-07-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE                    | City of San Antonio TX Electric & Gas Systems Revenue                            | CUSIP: 796253Z21<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |     120000 | PA      | $111990.83    | 0.00%             | 2042-02-01      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | EUR CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    3639000 | NC      | $1671.34      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Taurus CMBS                                       | Taurus 2025-3 UK Designated Activity Co                                          | CUSIP: 000000000<br>LEI: 635400XWNSMBWUUQIW58 | Long             | ABS-MBS          | CORP              | IE        |    1800000 | PA      | $2378116.11   | 0.07%             | 2035-07-20      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                         | BPR Trust 2021-TY                                                                | CUSIP: 05592AAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    2024000 | PA      | $2013952.46   | 0.06%             | 2038-09-15      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                                        | Phinia Inc                                                                       | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |     375000 | PA      | $385970.93    | 0.01%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AKER BP ASA                                       | Aker BP ASA                                                                      | CUSIP: 00973RAL7<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |    2440000 | PA      | $2508145.05   | 0.07%             | 2028-06-13      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |     937000 | PA      | $967745.31    | 0.03%             | 2028-05-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                          | JP Morgan Mortgage Trust 2007-A1                                                 | CUSIP: 46630GAM7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       6642 | PA      | $6650.80      | 0.00%             | 2035-07-25      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2024-4 LLC                                                                  | CUSIP: 74390EAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    8029217 | PA      | $8045112.88   | 0.23%             | 2029-08-25      | Variable      | 6.41%                 | 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        |     250000 | PA      | $250995.00    | 0.01%             | 2044-07-25      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                          | Occidental Petroleum Corp                                                        | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    1275000 | PA      | $1345696.80   | 0.04%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp                                | Expand Energy Corp                                                               | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      12570 | NS      | $1317084.60   | 0.04%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2021-R01                                     | CUSIP: 20754RAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     600000 | PA      | $613259.70    | 0.02%             | 2041-10-25      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| CHAMPION IRON CANADA INC                          | Champion Iron Canada Inc                                                         | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    3530000 | PA      | $3603953.50   | 0.10%             | 2032-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                            | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     993000 | PA      | $1003718.60   | 0.03%             | 2027-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NMLT Trust                                        | NLT 2025-INV1 Trust                                                              | CUSIP: 62916TAH2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   10617674 | PA      | $355692.09    | 0.01%             | 2070-02-25      | Variable      | 0.90%                 | No            |                  3 | On Loan: No      |
| Affirm Inc                                        | Affirm Asset Securitization Trust 2024-A                                         | CUSIP: 00834BAK3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    2350000 | PA      | $2371466.08   | 0.07%             | 2029-02-15      | Fixed         | 9.17%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                          | Vistra Operations Co LLC                                                         | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    2025000 | PA      | $2022566.28   | 0.06%             | 2027-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-AON                  | CUSIP: 46649XAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    4935000 | PA      | $1121726.98   | 0.03%             | 2031-07-05      | Variable      | 4.61%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS VERIZON COMMUNICATIONS INC                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $5201.23      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VISTRA CORP                                       | Vistra Corp                                                                      | CUSIP: 92840MAD4<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    3250000 | PA      | $3523862.97   | 0.10%             | N/A             | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/PHP FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-77342.84    | -0.00%            |  |  |  | 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        |    1400000 | PA      | $1292218.90   | 0.04%             | 2036-03-15      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS MEDLINE BORROWER LP                                                          | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-315086.91   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                  | MGM Resorts International                                                        | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    1675000 | PA      | $1699451.45   | 0.05%             | 2029-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                        | Carvana Co                                                                       | CUSIP: 146869AL6<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |     623078 | PA      | $638250.11    | 0.02%             | 2028-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                 | CUSIP: 3132DWGS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1658310 | PA      | $1683037.41   | 0.05%             | 2053-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                          | Delta Air Lines Inc / SkyMiles IP Ltd                                            | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    9148000 | PA      | $9147908.52   | 0.26%             | 2028-10-20      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                             | Mineral Resources Ltd                                                            | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     575000 | PA      | $599437.50    | 0.02%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: —       |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                              | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     500000 | PA      | $492000.00    | 0.01%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    5923000 | PA      | $6567109.22   | 0.19%             | 2031-10-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LTD                            | Eskom Holdings SOC Ltd                                                           | CUSIP: 29646AAD8<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |     290000 | PA      | $305950.00    | 0.01%             | 2028-08-10      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS KRW PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   -4249000 | NC      | $-27612.08    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                             | eG Global Finance PLC                                                            | CUSIP: 000000000<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    3800000 | PA      | $4793590.06   | 0.14%             | 2028-11-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                             | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |     310000 | PA      | $321237.50    | 0.01%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Codere Group Topco S.A. A2 Equity                 | Codere Group Topco S.A. A2 Equity                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | N/A       |      14649 | NS      | $334348.78    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS ARAB REPUBLIC OF EGYPT                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $290450.84    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                            | CUSIP: 527298BZ5<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     750000 | PA      | $846547.14    | 0.02%             | 2030-12-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: —       |
| CDR Firefly Bidco Plc                             | CD&R FIREFLY BIDCO PLC                                                           | CUSIP: 000000000<br>LEI: 213800OAU5VX61DYZ558 | Long             | LON              | CORP              | GB        |    6975000 | PA      | $9196730.82   | 0.26%             | 2029-04-29      | Floating      | 8.97%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 912810SS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   48600000 | PA      | $25226437.50  | 0.72%             | 2050-11-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                                  | Deutsche Bank AG/New York NY                                                     | CUSIP: 251526CU1<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    3300000 | PA      | $3513795.78   | 0.10%             | 2029-11-20      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $33535.24     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE TORONTO-DOMINION BANK                         | GBP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | N/A              | DFE              | CORP              | US        |          1 | NC      | $974097.37    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| EMBRAER NETHERLANDS FINA                          | Embraer Netherlands Finance BV                                                   | CUSIP: 29082HAD4<br>LEI: 724500PBR8LR26XBSP67 | Long             | DBT              | CORP              | NL        |    1770000 | PA      | $1884395.10   | 0.05%             | 2030-07-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | ZAR CALL VERSUS USD PUT                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |    2555000 | NC      | $8.23         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | THREE-MONTH SOFR                                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -462 | NC      | $181329.54    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | SWOP CDS CDX.NA.IG.44.V1                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              | CORP              | US        |  407760000 | OU      | $678928.73    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                          | Banco de Credito del Peru S.A.                                                   | CUSIP: 05971U2D8<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |    1055000 | PA      | $1035545.80   | 0.03%             | 2031-09-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                   | CUSIP: 61744YAP3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    1750000 | PA      | $1721168.09   | 0.05%             | 2029-01-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| Sunrun Issuer                                     | Sunrun Vesta Issuer 2024-3 LLC                                                   | CUSIP: 86773AAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    3373596 | PA      | $3197034.48   | 0.09%             | 2059-10-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CCF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   81695000 | PA      | $79381372.07  | 2.27%             | 2026-05-31      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                          | Viking Ocean Cruises Ship VII Ltd                                                | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     875000 | PA      | $870301.25    | 0.02%             | 2029-02-15      | Fixed         | 5.62%                 | 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        |    1500000 | PA      | $1507671.90   | 0.04%             | 2041-10-15      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1775000 | PA      | $1713601.45   | 0.05%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                 | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    5150000 | PA      | $5362236.40   | 0.15%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                   | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |     175000 | PA      | $166287.82    | 0.00%             | 2030-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                               | CUSIP: 86765BAV1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      60000 | PA      | $53386.58     | 0.00%             | 2047-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R04                                     | CUSIP: 20753YAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     290000 | PA      | $308552.69    | 0.01%             | 2042-03-25      | Floating      | 9.60%                 | No            |                  2 | On Loan: No      |
| AYDEM YENILENEBILIR ENER                          | Aydem Yenilenebilir Enerji AS                                                    | CUSIP: 054644AA7<br>LEI: 9845009C50EDA74OA532 | Long             | DBT              | CORP              | TR        |     567000 | PA      | $560774.34    | 0.02%             | 2027-02-02      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS VENTURE GLOBAL LNG INC                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-235131.26   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CCM MERGER INC                                    | CCM Merger Inc                                                                   | CUSIP: 14985VAE1<br>LEI: 549300P77RSBKKFME089 | Long             | DBT              | CORP              | US        |    1525000 | PA      | $1525119.74   | 0.04%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $1305225.65   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                     | B&G Foods Inc                                                                    | CUSIP: 05508WAC9<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |    3600000 | PA      | $3366900.62   | 0.10%             | 2028-09-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| STAR LEASING CO LLC                               | Star Leasing Co LLC                                                              | CUSIP: 854938AA5<br>LEI: 549300WXKNX4PT3HSN71 | Long             | DBT              | CORP              | US        |    3415000 | PA      | $3370282.48   | 0.10%             | 2030-02-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                        | CUSIP: 01F022691<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2500000 | PA      | $2049041.30   | 0.06%             | 2055-09-15      | Fixed         | 2.50%                 | 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        |    1209887 | PA      | $432046.02    | 0.01%             | 2048-10-25      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                 | CUSIP: 91282CCZ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   25440000 | PA      | $24504881.25  | 0.70%             | 2026-09-30      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| ERAC USA FINANCE LLC                              | ERAC USA Finance LLC                                                             | CUSIP: 26882PAR3<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | DBT              | CORP              | US        |     110000 | PA      | $122676.71    | 0.00%             | 2034-06-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                   | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    1800000 | PA      | $1985436.17   | 0.06%             | N/A             | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS INC                           | Park River Holdings Inc                                                          | CUSIP: 70082LAA5<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |    3050000 | PA      | $2634922.15   | 0.08%             | 2029-02-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                     | Carnival Corp                                                                    | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    2050000 | PA      | $2079468.75   | 0.06%             | 2030-03-15      | Fixed         | 5.75%                 | 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        |       9726 | PA      | $8656.25      | 0.00%             | 2063-02-25      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   -2122000 | NC      | $-6209.79     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                 | Elevation CLO 2021-14 Ltd                                                        | CUSIP: 28623RBG2<br>LEI: 549300JPI8D017HI2768 | Long             | ABS-CBDO         | CORP              | KY        |   16750000 | PA      | $16733213.15  | 0.48%             | 2038-01-20      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                          | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $79837.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | USD/MXN FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-77174.42    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BPR Trust                                         | BPR Trust 2024-PMDW                                                              | CUSIP: 05592VAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1900000 | PA      | $1890950.11   | 0.05%             | 2041-11-05      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Chase Funding Mortgage Loan As                    | Chase Funding Trust Series 2003-4                                                | CUSIP: 161546FV3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     222855 | PA      | $217257.72    | 0.01%             | 2033-05-25      | Variable      | 4.89%                 | No            |                  2 | 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      | $35246.88     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Bayview Financing Trust                           | Bayview Financing Trust 2023-1F                                                  | CUSIP: 07336HAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     946489 | PA      | $947151.23    | 0.03%             | 2026-07-01      | Floating      | 8.35%                 | No            |                  3 | On Loan: No      |
| NEW GENERATION GAS GATHERING LLC                  | NEW GENERATION GAS GATHERING LLC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     351351 | PA      | $346081.08    | 0.01%             | 2029-09-30      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                           | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     200000 | PA      | $183472.76    | 0.01%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                               | COMM 2024-277P Mortgage Trust                                                    | CUSIP: 12654FAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    5300000 | PA      | $140161.68    | 0.00%             | 2044-08-10      | Variable      | 0.66%                 | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD LP                              | Cantor Fitzgerald LP                                                             | CUSIP: 138616AM9<br>LEI: 549300RLUEEVQEMX0450 | Long             | DBT              | CORP              | US        |    1285000 | PA      | $1365918.60   | 0.04%             | 2028-12-12      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2021-HQA4                                          | CUSIP: 35564KNS4<br>LEI: 5493000ISE4NWBTOSK36 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $101459.80    | 0.00%             | 2041-12-25      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                           | Romanian Government International Bond                                           | CUSIP: 77586RAY6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    5790000 | PA      | $5816055.00   | 0.17%             | 2030-09-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                              | CUSIP: 71654QCB6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     555000 | PA      | $556887.00    | 0.02%             | 2026-08-04      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| DIGICEL INTL FIN LTD Common Equity                | DIGICEL INTL FIN LTD Common Equity                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     147816 | NS      | $1182528.00   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | INR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-122279.84   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LORCA TELECOM BONDCO                              | Lorca Telecom Bondco SA                                                          | CUSIP: 000000000<br>LEI: 9598004HFBAS82YM7X35 | Long             | DBT              | CORP              | ES        |    2350000 | PA      | $2798881.44   | 0.08%             | 2029-04-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                               | CUSIP: 36179WT24<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   10283878 | PA      | $9287025.84   | 0.27%             | 2051-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                    | JP Morgan Chase Commercial Mortgage Securities Trust 2013-LC11                   | CUSIP: 46639YAT4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   23322426 | PA      | $63646.90     | 0.00%             | 2046-04-15      | Variable      | 0.46%                 | No            |                  2 | On Loan: No      |
| DCLI BIDCO LLC                                    | Dcli Bidco LLC                                                                   | CUSIP: 233104AA6<br>LEI: 2549007UUVJTHHNK9T70 | Long             | DBT              | CORP              | US        |    3650000 | PA      | $3723228.01   | 0.11%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                    | CUSIP: 17327CAT0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    5265000 | PA      | $5243565.06   | 0.15%             | 2030-09-19      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                          | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     580000 | PA      | $595541.86    | 0.02%             | 2032-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF TURKIYE                                                          | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $665034.07    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2025-RPL1 LLC                                                               | CUSIP: 74390WAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     393000 | PA      | $355556.34    | 0.01%             | 2055-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                            | Millicom International Cellular SA                                               | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |     515000 | PA      | $471740.00    | 0.01%             | 2031-04-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R04                                     | CUSIP: 20753YCK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    1000000 | PA      | $1030699.80   | 0.03%             | 2042-03-25      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS CLEVELAND-CLIFFS INC                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |          1 | NC      | $-172873.18   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/BRL FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-261292.63   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK INC                                         | ONEOK Inc                                                                        | CUSIP: 682680BK8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     360000 | PA      | $375586.50    | 0.01%             | 2030-11-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MASTEC INC                                        | MasTec Inc                                                                       | CUSIP: 576323AT6<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |    3705000 | PA      | $3838799.27   | 0.11%             | 2029-06-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-25

**Name of Applicant:** Prudential Investment Portfolios 9

**Signature:** Christian J. Kelly

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

**Title:** Chief Financial Officer