# EDGAR Filing Document

**Accession Number:** 0000318531
**File Stem:** 0001193125-25-306309
**Filing Date:** 2025-12
**Character Count:** 215744
**Document Hash:** 67ffbddefc89f63382d47ad7c70a26eb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-306309.hdr.sgml**: 20251203

**ACCESSION NUMBER**: 0001193125-25-306309

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 47

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251203

**DATE AS OF CHANGE**: 20251203

**EFFECTIVENESS DATE**: 20251203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRUDENTIAL JENNISON SMALL CO FUND, INC.
- **CENTRAL INDEX KEY:** 0000318531

**ORGANIZATION NAME:**
- **EIN:** 133040042
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03084
- **FILM NUMBER:** 251545837

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JENNISON SMALL CO FUND, INC.
- **DATE OF NAME CHANGE:** 20070801

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JENNISON SMALL CO FUND INC
- **DATE OF NAME CHANGE:** 20030716

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRUDENTIAL SMALL CO FUND INC
- **DATE OF NAME CHANGE:** 20000926

## Series and Classes Contracts Data

### PGIM JENNISON SMALL COMPANY FUND (Series ID: S000004629)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000012606 | Class A      | PGOAX           |
| C000012608 | Class C      | PSCCX           |
| C000012609 | Class Z      | PSCZX           |
| C000012610 | Class R      | JSCRX           |
| C000093652 | Class R6     | PJSQX           |
| C000195747 | Class R2     | PSCHX           |
| C000195748 | Class R4     | PSCJX           |

?xml version='1.0' encoding='ASCII'? Prudential Jennison Small Company Fund, Inc.

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

#### FORM N-CSR

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

---

| | |
|:---|:---|
| Investment Company Act file number: | 811-03084 |
| Exact name of registrant as specified in charter: | Prudential Jennison Small Company Fund, Inc. |
| Address of principal executive offices: | 655 Broad Street, 6<sup>th</sup>Floor |
|  | Newark, New Jersey 07102 |
| Name and address of agent for service: | Andrew R. French |
|  | 655 Broad Street, 6<sup>th</sup>Floor |
|  | Newark, New Jersey 07102 |
| Registrant's telephone number, including area code: | 800-225-1852 |
| Date of fiscal year end: | 9/30/2025 |
| Date of reporting period: | 9/30/2025 |

---

------

Item 1 – Reports to Stockholders

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

------

![](g939246g1tsrbanner.jpg)

PGIM Jennison Small Company Fund

Class A:

PGOAX

ANNUAL SHAREHOLDER REPORT – September 30, 2025

This annual shareholder report contains important information about the Class A shares of PGIM Jennison Small Company Fund (the "Fund") for

the period of October 1, 2024 to September 30, 2025.

You can find additional information about the Fund at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

. You can also request

this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

WHAT WERE THE FUND COSTS FOR THE LAST YEAR?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Jennison Small Company Fund—Class A | $114 | 1.12% |

---

WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?

■

US equities posted solid gains for the reporting period, though returns were marked by bouts of elevated volatility. Key influences included the

US presidential election, uncertainty regarding the US administration's tariff and trade policies, renewed enthusiasm around artificial

intelligence (AI), resilient corporate earnings, and a Federal Reserve rate cut late in the period. For the period, smaller-company stocks, as

represented by the Russell 2500 Index, performed well in aggregate but trailed the broader market, as represented by the S&P 500 Index.

■

Positions within the health care sector (led by medtech and biotechnology) and consumer staples sector (driven by distribution) added the most

to the Fund's performance relative to the Russell 2500 Index (the "Index").

■

Positions within the industrials sector, information technology sector (driven by software), real estate sector (specialized REITs and residential

REITs), and financials sector (especially financial services) were primary sources of underperformance relative to the Index.

MF109EA

![](g939246g1pgim_investments.jpg)

------

HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?

**The Fund's past performance is not a good predictor of the Fund's future performance.** 

The returns do not reflect the deduction of

taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

Visit

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.

The line graph reflects a hypothetical $10,000 investment in Class A shares and assumes that all recurring fees (including management fees)

were deducted and dividends and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would

have been lower.

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

Cumulative Performance: September 30, 2015 to September 30, 2025<br>Initial Investment of $10,000<br>

![](g939246g1jennsmallcompany_a.jpg)

The line graph reflects the return on the Fund's Class A shares with sales charges.

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

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 |
|  | One Year (%) | Five Years (%) | Ten Years (%) |
| Class A with sales charges | -2.21% | 10.57% | 9.52% |
| Class A without sales charges | 3.48% | 11.83% | 10.14% |
| S&P 500 Index\* | 17.60% | 16.47% | 15.30% |
| Russell 2500 Index | 10.16% | 12.09% | 10.52% |
| S&P SmallCap 600 Index | 3.64% | 12.94% | 10.03% |

---

\*The Fund compares its performance against this broad-based index in response to regulatory requirements.

------

WHAT ARE SOME KEY FUND STATISTICS AS OF 9/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $3207699520<br>|
| Number of fund holdings | 121 |
| Total advisory fees paid for the year | $20818488<br>|
| Portfolio turnover rate for the year | 62% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 9/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 8.6% |
| Affiliated Mutual Fund - Short-Term Investment <br>(6.0% represents investments purchased with <br>collateral from securities on loan)<br>| 8.4% |
| Insurance | 5.5% |
| Semiconductors & Semiconductor Equipment | 5.5% |
| Software | 5.4% |
| Machinery | 4.9% |
| Textiles, Apparel & Luxury Goods | 4.5% |
| Metals & Mining | 4.3% |
| Biotechnology | 3.8% |
| Health Care Providers & Services | 3.7% |
| Trading Companies & Distributors | 3.3% |
| Aerospace & Defense | 3.0% |
| Capital Markets | 2.6% |
| Specialized REITs | 2.6% |
| Hotels, Restaurants & Leisure | 2.6% |
| Specialty Retail | 2.3% |
| Professional Services | 2.3% |
| Pharmaceuticals | 2.2% |
| Consumer Staples Distribution & Retail | 2.2% |
| Multi-Utilities | 2.1% |
| Oil, Gas & Consumable Fuels | 2.0% |
| Financial Services | 1.9% |
| Interactive Media & Services | 1.8% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 1.8% |
| Containers & Packaging | 1.7% |
| Electrical Equipment | 1.5% |
| Residential REITs | 1.5% |
| Building Products | 1.5% |
| Automobile Components | 1.4% |
| Marine Transportation | 1.3% |
| Industrial REITs | 1.1% |
| Mortgage Real Estate Investment Trusts (REITs) | 1.1% |
| Office REITs | 1.0% |
| Chemicals | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Household Durables | 0.7% |
| Commercial Services & Supplies | 0.7% |
| Construction & Engineering | 0.5% |
| Beverages | 0.5% |
| Hotel & Resort REITs | 0.5% |
| Retail REITs | 0.5% |
| Others\* | 1.2% |
|  | 105.8% |
| Liabilities in excess of other assets | (5.8)% |
|  | 100.0% |

---

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

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

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

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or by scanning the QR code below,

including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by

contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

![](g939246g1qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Small Company Fund

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

SHARE CLASS A <br> NASDAQ PGOAX <br> CUSIP 74441N101

MF109EA

![](g939246g1pgim_investments.jpg)

------

![](g939246g2tsrbanner.jpg)

PGIM Jennison Small Company Fund

Class C:

PSCCX

ANNUAL SHAREHOLDER REPORT – September 30, 2025

This annual shareholder report contains important information about the Class C shares of PGIM Jennison Small Company Fund (the "Fund") for

the period of October 1, 2024 to September 30, 2025.

You can find additional information about the Fund at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

. You can also request

this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

WHAT WERE THE FUND COSTS FOR THE LAST YEAR?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Jennison Small Company Fund—Class C | $199 | 1.96% |

---

WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?

■

US equities posted solid gains for the reporting period, though returns were marked by bouts of elevated volatility. Key influences included the

US presidential election, uncertainty regarding the US administration's tariff and trade policies, renewed enthusiasm around artificial

intelligence (AI), resilient corporate earnings, and a Federal Reserve rate cut late in the period. For the period, smaller-company stocks, as

represented by the Russell 2500 Index, performed well in aggregate but trailed the broader market, as represented by the S&P 500 Index.

■

Positions within the health care sector (led by medtech and biotechnology) and consumer staples sector (driven by distribution) added the most

to the Fund's performance relative to the Russell 2500 Index (the "Index").

■

Positions within the industrials sector, information technology sector (driven by software), real estate sector (specialized REITs and residential

REITs), and financials sector (especially financial services) were primary sources of underperformance relative to the Index.

MF109EC

![](g939246g2pgim_investments.jpg)

------

HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?

**The Fund's past performance is not a good predictor of the Fund's future performance.** 

The returns do not reflect the deduction of

taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

Visit

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.

The line graph reflects a hypothetical $10,000 investment in Class C shares and assumes that all recurring fees (including management fees)

were deducted and dividends and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would

have been lower.

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

Cumulative Performance: September 30, 2015 to September 30, 2025<br>Initial Investment of $10,000<br>

![](g939246g2jennsmallcompany_c.jpg)

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

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 |
|  | One Year (%) | Five Years (%) | Ten Years (%) |
| Class C with sales charges | 1.61% | 10.92% | 9.32% |
| Class C without sales charges | 2.61% | 10.92% | 9.32% |
| S&P 500 Index\* | 17.60% | 16.47% | 15.30% |
| Russell 2500 Index | 10.16% | 12.09% | 10.52% |
| S&P SmallCap 600 Index | 3.64% | 12.94% | 10.03% |

---

\*The Fund compares its performance against this broad-based index in response to regulatory requirements.

------

WHAT ARE SOME KEY FUND STATISTICS AS OF 9/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $3207699520<br>|
| Number of fund holdings | 121 |
| Total advisory fees paid for the year | $20818488<br>|
| Portfolio turnover rate for the year | 62% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 9/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 8.6% |
| Affiliated Mutual Fund - Short-Term Investment <br>(6.0% represents investments purchased with <br>collateral from securities on loan)<br>| 8.4% |
| Insurance | 5.5% |
| Semiconductors & Semiconductor Equipment | 5.5% |
| Software | 5.4% |
| Machinery | 4.9% |
| Textiles, Apparel & Luxury Goods | 4.5% |
| Metals & Mining | 4.3% |
| Biotechnology | 3.8% |
| Health Care Providers & Services | 3.7% |
| Trading Companies & Distributors | 3.3% |
| Aerospace & Defense | 3.0% |
| Capital Markets | 2.6% |
| Specialized REITs | 2.6% |
| Hotels, Restaurants & Leisure | 2.6% |
| Specialty Retail | 2.3% |
| Professional Services | 2.3% |
| Pharmaceuticals | 2.2% |
| Consumer Staples Distribution & Retail | 2.2% |
| Multi-Utilities | 2.1% |
| Oil, Gas & Consumable Fuels | 2.0% |
| Financial Services | 1.9% |
| Interactive Media & Services | 1.8% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 1.8% |
| Containers & Packaging | 1.7% |
| Electrical Equipment | 1.5% |
| Residential REITs | 1.5% |
| Building Products | 1.5% |
| Automobile Components | 1.4% |
| Marine Transportation | 1.3% |
| Industrial REITs | 1.1% |
| Mortgage Real Estate Investment Trusts (REITs) | 1.1% |
| Office REITs | 1.0% |
| Chemicals | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Household Durables | 0.7% |
| Commercial Services & Supplies | 0.7% |
| Construction & Engineering | 0.5% |
| Beverages | 0.5% |
| Hotel & Resort REITs | 0.5% |
| Retail REITs | 0.5% |
| Others\* | 1.2% |
|  | 105.8% |
| Liabilities in excess of other assets | (5.8)% |
|  | 100.0% |

---

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

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

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

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or by scanning the QR code below,

including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by

contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

![](g939246g2qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Small Company Fund

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

SHARE CLASS C <br> NASDAQ PSCCX <br> CUSIP 74441N309

MF109EC

![](g939246g2pgim_investments.jpg)

------

![](g939246g3tsrbanner.jpg)

PGIM Jennison Small Company Fund

Class R:

JSCRX

ANNUAL SHAREHOLDER REPORT – September 30, 2025

This annual shareholder report contains important information about the Class R shares of PGIM Jennison Small Company Fund (the "Fund") for

the period of October 1, 2024 to September 30, 2025.

You can find additional information about the Fund at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

. You can also request

this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

WHAT WERE THE FUND COSTS FOR THE LAST YEAR?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Jennison Small Company Fund—Class R | $133 | 1.31% |

---

WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?

■

US equities posted solid gains for the reporting period, though returns were marked by bouts of elevated volatility. Key influences included the

US presidential election, uncertainty regarding the US administration's tariff and trade policies, renewed enthusiasm around artificial

intelligence (AI), resilient corporate earnings, and a Federal Reserve rate cut late in the period. For the period, smaller-company stocks, as

represented by the Russell 2500 Index, performed well in aggregate but trailed the broader market, as represented by the S&P 500 Index.

■

Positions within the health care sector (led by medtech and biotechnology) and consumer staples sector (driven by distribution) added the most

to the Fund's performance relative to the Russell 2500 Index (the "Index").

■

Positions within the industrials sector, information technology sector (driven by software), real estate sector (specialized REITs and residential

REITs), and financials sector (especially financial services) were primary sources of underperformance relative to the Index.

MF109ER

![](g939246g3pgim_investments.jpg)

------

HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?

**The Fund's past performance is not a good predictor of the Fund's future performance.** 

The returns do not reflect the deduction of

taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

Visit

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.

The line graph reflects a hypothetical $10,000 investment in Class R shares and assumes that all recurring fees (including management fees)

were deducted and dividends and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would

have been lower.

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

Cumulative Performance: September 30, 2015 to September 30, 2025<br>Initial Investment of $10,000<br>

![](g939246g3jennsmallcompany_r.jpg)

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

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 |
|  | One Year (%) | Five Years (%) | Ten Years (%) |
| Class R | 3.30% | 11.61% | 9.93% |
| S&P 500 Index\* | 17.60% | 16.47% | 15.30% |
| Russell 2500 Index | 10.16% | 12.09% | 10.52% |
| S&P SmallCap 600 Index | 3.64% | 12.94% | 10.03% |

---

\*The Fund compares its performance against this broad-based index in response to regulatory requirements.

------

WHAT ARE SOME KEY FUND STATISTICS AS OF 9/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $3207699520<br>|
| Number of fund holdings | 121 |
| Total advisory fees paid for the year | $20818488<br>|
| Portfolio turnover rate for the year | 62% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 9/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 8.6% |
| Affiliated Mutual Fund - Short-Term Investment <br>(6.0% represents investments purchased with <br>collateral from securities on loan)<br>| 8.4% |
| Insurance | 5.5% |
| Semiconductors & Semiconductor Equipment | 5.5% |
| Software | 5.4% |
| Machinery | 4.9% |
| Textiles, Apparel & Luxury Goods | 4.5% |
| Metals & Mining | 4.3% |
| Biotechnology | 3.8% |
| Health Care Providers & Services | 3.7% |
| Trading Companies & Distributors | 3.3% |
| Aerospace & Defense | 3.0% |
| Capital Markets | 2.6% |
| Specialized REITs | 2.6% |
| Hotels, Restaurants & Leisure | 2.6% |
| Specialty Retail | 2.3% |
| Professional Services | 2.3% |
| Pharmaceuticals | 2.2% |
| Consumer Staples Distribution & Retail | 2.2% |
| Multi-Utilities | 2.1% |
| Oil, Gas & Consumable Fuels | 2.0% |
| Financial Services | 1.9% |
| Interactive Media & Services | 1.8% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 1.8% |
| Containers & Packaging | 1.7% |
| Electrical Equipment | 1.5% |
| Residential REITs | 1.5% |
| Building Products | 1.5% |
| Automobile Components | 1.4% |
| Marine Transportation | 1.3% |
| Industrial REITs | 1.1% |
| Mortgage Real Estate Investment Trusts (REITs) | 1.1% |
| Office REITs | 1.0% |
| Chemicals | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Household Durables | 0.7% |
| Commercial Services & Supplies | 0.7% |
| Construction & Engineering | 0.5% |
| Beverages | 0.5% |
| Hotel & Resort REITs | 0.5% |
| Retail REITs | 0.5% |
| Others\* | 1.2% |
|  | 105.8% |
| Liabilities in excess of other assets | (5.8)% |
|  | 100.0% |

---

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

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

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

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or by scanning the QR code below,

including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by

contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

![](g939246g3qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Small Company Fund

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

SHARE CLASS R <br> NASDAQ JSCRX <br> CUSIP 74441N507

MF109ER

![](g939246g3pgim_investments.jpg)

------

![](g939246g4tsrbanner.jpg)

PGIM Jennison Small Company Fund

Class Z:

PSCZX

ANNUAL SHAREHOLDER REPORT – September 30, 2025

This annual shareholder report contains important information about the Class Z shares of PGIM Jennison Small Company Fund (the "Fund") for

the period of October 1, 2024 to September 30, 2025.

You can find additional information about the Fund at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

. You can also request

this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

WHAT WERE THE FUND COSTS FOR THE LAST YEAR?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Jennison Small Company Fund—Class Z | $84 | 0.82% |

---

WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?

■

US equities posted solid gains for the reporting period, though returns were marked by bouts of elevated volatility. Key influences included the

US presidential election, uncertainty regarding the US administration's tariff and trade policies, renewed enthusiasm around artificial

intelligence (AI), resilient corporate earnings, and a Federal Reserve rate cut late in the period. For the period, smaller-company stocks, as

represented by the Russell 2500 Index, performed well in aggregate but trailed the broader market, as represented by the S&P 500 Index.

■

Positions within the health care sector (led by medtech and biotechnology) and consumer staples sector (driven by distribution) added the most

to the Fund's performance relative to the Russell 2500 Index (the "Index").

■

Positions within the industrials sector, information technology sector (driven by software), real estate sector (specialized REITs and residential

REITs), and financials sector (especially financial services) were primary sources of underperformance relative to the Index.

MF109EZ

![](g939246g4pgim_investments.jpg)

------

HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?

**The Fund's past performance is not a good predictor of the Fund's future performance.** 

The returns do not reflect the deduction of

taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

Visit

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.

The line graph reflects a hypothetical $10,000 investment in Class Z shares and assumes that all recurring fees (including management fees)

were deducted and dividends and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would

have been lower.

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

Cumulative Performance: September 30, 2015 to September 30, 2025<br>Initial Investment of $10,000<br>

![](g939246g4jennsmallcompany_z.jpg)

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

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 |
|  | One Year (%) | Five Years (%) | Ten Years (%) |
| Class Z | 3.76% | 12.19% | 10.48% |
| S&P 500 Index\* | 17.60% | 16.47% | 15.30% |
| Russell 2500 Index | 10.16% | 12.09% | 10.52% |
| S&P SmallCap 600 Index | 3.64% | 12.94% | 10.03% |

---

\*The Fund compares its performance against this broad-based index in response to regulatory requirements.

------

WHAT ARE SOME KEY FUND STATISTICS AS OF 9/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $3207699520<br>|
| Number of fund holdings | 121 |
| Total advisory fees paid for the year | $20818488<br>|
| Portfolio turnover rate for the year | 62% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 9/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 8.6% |
| Affiliated Mutual Fund - Short-Term Investment <br>(6.0% represents investments purchased with <br>collateral from securities on loan)<br>| 8.4% |
| Insurance | 5.5% |
| Semiconductors & Semiconductor Equipment | 5.5% |
| Software | 5.4% |
| Machinery | 4.9% |
| Textiles, Apparel & Luxury Goods | 4.5% |
| Metals & Mining | 4.3% |
| Biotechnology | 3.8% |
| Health Care Providers & Services | 3.7% |
| Trading Companies & Distributors | 3.3% |
| Aerospace & Defense | 3.0% |
| Capital Markets | 2.6% |
| Specialized REITs | 2.6% |
| Hotels, Restaurants & Leisure | 2.6% |
| Specialty Retail | 2.3% |
| Professional Services | 2.3% |
| Pharmaceuticals | 2.2% |
| Consumer Staples Distribution & Retail | 2.2% |
| Multi-Utilities | 2.1% |
| Oil, Gas & Consumable Fuels | 2.0% |
| Financial Services | 1.9% |
| Interactive Media & Services | 1.8% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 1.8% |
| Containers & Packaging | 1.7% |
| Electrical Equipment | 1.5% |
| Residential REITs | 1.5% |
| Building Products | 1.5% |
| Automobile Components | 1.4% |
| Marine Transportation | 1.3% |
| Industrial REITs | 1.1% |
| Mortgage Real Estate Investment Trusts (REITs) | 1.1% |
| Office REITs | 1.0% |
| Chemicals | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Household Durables | 0.7% |
| Commercial Services & Supplies | 0.7% |
| Construction & Engineering | 0.5% |
| Beverages | 0.5% |
| Hotel & Resort REITs | 0.5% |
| Retail REITs | 0.5% |
| Others\* | 1.2% |
|  | 105.8% |
| Liabilities in excess of other assets | (5.8)% |
|  | 100.0% |

---

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

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

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

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or by scanning the QR code below,

including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by

contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

![](g939246g4qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Small Company Fund

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

SHARE CLASS Z <br> NASDAQ PSCZX <br> CUSIP 74441N408

MF109EZ

![](g939246g4pgim_investments.jpg)

------

![](g939246g5tsrbanner.jpg)

PGIM Jennison Small Company Fund

Class R2:

PSCHX

ANNUAL SHAREHOLDER REPORT – September 30, 2025

This annual shareholder report contains important information about the Class R2 shares of PGIM Jennison Small Company Fund (the "Fund")

for the period of October 1, 2024 to September 30, 2025.

You can find additional information about the Fund at

pgim.com/investments/mutual-funds/p**rospectuses-fact-sheets**

. You can also request

this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

WHAT WERE THE FUND COSTS FOR THE LAST YEAR?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Jennison Small Company Fund—Class R2 | $120 | 1.18% |

---

WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?

■

US equities posted solid gains for the reporting period, though returns were marked by bouts of elevated volatility. Key influences included the

US presidential election, uncertainty regarding the US administration's tariff and trade policies, renewed enthusiasm around artificial

intelligence (AI), resilient corporate earnings, and a Federal Reserve rate cut late in the period. For the period, smaller-company stocks, as

represented by the Russell 2500 Index, performed well in aggregate but trailed the broader market, as represented by the S&P 500 Index.

■

Positions within the health care sector (led by medtech and biotechnology) and consumer staples sector (driven by distribution) added the most

to the Fund's performance relative to the Russell 2500 Index (the "Index").

■

Positions within the industrials sector, information technology sector (driven by software), real estate sector (specialized REITs and residential

REITs), and financials sector (especially financial services) were primary sources of underperformance relative to the Index.

MF109ER2

![](g939246g5pgim_investments.jpg)

------

HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?

**The Fund's past performance is not a good predictor of the Fund's future performance.** 

The returns do not reflect the deduction of

taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

Visit

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.

The line graph reflects a hypothetical $10,000 investment in Class R2 shares and assumes that all recurring fees (including management fees)

were deducted and dividends and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would

have been lower.

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

Cumulative Performance: November 28, 2017 to September 30, 2025<br>Initial Investment of $10,000<br>

![](g939246g5jennsmallcompany_r2.jpg)

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

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 |
|  | One Year (%) | Five Years (%) | Since Inception (%) |
| Class R2 | 3.41% | 11.78% | 8.70% (11/28/2017) |
| S&P 500 Index\* | 17.60% | 16.47% | 14.44% |
| Russell 2500 Index | 10.16% | 12.09% | 8.71% |
| S&P SmallCap 600 Index | 3.64% | 12.94% | 7.33% |

---

\*The Fund compares its performance against this broad-based index in response to regulatory requirements.

Since Inception returns are provided for the share class since it has less than 10 fiscal years of returns. Since Inception returns for the Indexes are measured from the closest

month-end to the class's inception date.

------

WHAT ARE SOME KEY FUND STATISTICS AS OF 9/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $3207699520<br>|
| Number of fund holdings | 121 |
| Total advisory fees paid for the year | $20818488<br>|
| Portfolio turnover rate for the year | 62% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 9/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 8.6% |
| Affiliated Mutual Fund - Short-Term Investment <br>(6.0% represents investments purchased with <br>collateral from securities on loan)<br>| 8.4% |
| Insurance | 5.5% |
| Semiconductors & Semiconductor Equipment | 5.5% |
| Software | 5.4% |
| Machinery | 4.9% |
| Textiles, Apparel & Luxury Goods | 4.5% |
| Metals & Mining | 4.3% |
| Biotechnology | 3.8% |
| Health Care Providers & Services | 3.7% |
| Trading Companies & Distributors | 3.3% |
| Aerospace & Defense | 3.0% |
| Capital Markets | 2.6% |
| Specialized REITs | 2.6% |
| Hotels, Restaurants & Leisure | 2.6% |
| Specialty Retail | 2.3% |
| Professional Services | 2.3% |
| Pharmaceuticals | 2.2% |
| Consumer Staples Distribution & Retail | 2.2% |
| Multi-Utilities | 2.1% |
| Oil, Gas & Consumable Fuels | 2.0% |
| Financial Services | 1.9% |
| Interactive Media & Services | 1.8% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 1.8% |
| Containers & Packaging | 1.7% |
| Electrical Equipment | 1.5% |
| Residential REITs | 1.5% |
| Building Products | 1.5% |
| Automobile Components | 1.4% |
| Marine Transportation | 1.3% |
| Industrial REITs | 1.1% |
| Mortgage Real Estate Investment Trusts (REITs) | 1.1% |
| Office REITs | 1.0% |
| Chemicals | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Household Durables | 0.7% |
| Commercial Services & Supplies | 0.7% |
| Construction & Engineering | 0.5% |
| Beverages | 0.5% |
| Hotel & Resort REITs | 0.5% |
| Retail REITs | 0.5% |
| Others\* | 1.2% |
|  | 105.8% |
| Liabilities in excess of other assets | (5.8)% |
|  | 100.0% |

---

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

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

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

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or by scanning the QR code below,

including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by

contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

![](g939246g5qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Small Company Fund

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

SHARE CLASS R2 <br> NASDAQ PSCHX <br> CUSIP 74441N861

MF109ER2

![](g939246g5pgim_investments.jpg)

------

![](g939246g6tsrbanner.jpg)

PGIM Jennison Small Company Fund

Class R4:

PSCJX

ANNUAL SHAREHOLDER REPORT – September 30, 2025

This annual shareholder report contains important information about the Class R4 shares of PGIM Jennison Small Company Fund (the "Fund")

for the period of October 1, 2024 to September 30, 2025.

You can find additional information about the Fund at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

. You can also request

this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

WHAT WERE THE FUND COSTS FOR THE LAST YEAR?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Jennison Small Company Fund—Class R4 | $95 | 0.93% |

---

WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?

■

US equities posted solid gains for the reporting period, though returns were marked by bouts of elevated volatility. Key influences included the

US presidential election, uncertainty regarding the US administration's tariff and trade policies, renewed enthusiasm around artificial

intelligence (AI), resilient corporate earnings, and a Federal Reserve rate cut late in the period. For the period, smaller-company stocks, as

represented by the Russell 2500 Index, performed well in aggregate but trailed the broader market, as represented by the S&P 500 Index.

■

Positions within the health care sector (led by medtech and biotechnology) and consumer staples sector (driven by distribution) added the most

to the Fund's performance relative to the Russell 2500 Index (the "Index").

■

Positions within the industrials sector, information technology sector (driven by software), real estate sector (specialized REITs and residential

REITs), and financials sector (especially financial services) were primary sources of underperformance relative to the Index.

MF109ER4

![](g939246g6pgim_investments.jpg)

------

HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?

**The Fund's past performance is not a good predictor of the Fund's future performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.**Visit **pgim.com/investments/mutual-funds/prospectuses-fact-sheets** or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.

The line graph reflects a hypothetical $10,000 investment in Class R4 shares and assumes that all recurring fees (including management fees)

were deducted and dividends and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would

have been lower.

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

Cumulative Performance: November 28, 2017 to September 30, 2025<br>Initial Investment of $10,000<br>

![](g939246g6jennsmallcompany_r4.jpg)

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

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 |
|  | One Year (%) | Five Years (%) | Since Inception (%) |
| Class R4 | 3.71% | 12.06% | 8.99% (11/28/2017) |
| S&P 500 Index\* | 17.60% | 16.47% | 14.44% |
| Russell 2500 Index | 10.16% | 12.09% | 8.71% |
| S&P SmallCap 600 Index | 3.64% | 12.94% | 7.33% |

---

\*The Fund compares its performance against this broad-based index in response to regulatory requirements.

Since Inception returns are provided for the share class since it has less than 10 fiscal years of returns. Since Inception returns for the Indexes are measured from the closest

month-end to the class's inception date.

------

WHAT ARE SOME KEY FUND STATISTICS AS OF 9/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $3207699520<br>|
| Number of fund holdings | 121 |
| Total advisory fees paid for the year | $20818488<br>|
| Portfolio turnover rate for the year | 62% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 9/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 8.6% |
| Affiliated Mutual Fund - Short-Term Investment <br>(6.0% represents investments purchased with <br>collateral from securities on loan)<br>| 8.4% |
| Insurance | 5.5% |
| Semiconductors & Semiconductor Equipment | 5.5% |
| Software | 5.4% |
| Machinery | 4.9% |
| Textiles, Apparel & Luxury Goods | 4.5% |
| Metals & Mining | 4.3% |
| Biotechnology | 3.8% |
| Health Care Providers & Services | 3.7% |
| Trading Companies & Distributors | 3.3% |
| Aerospace & Defense | 3.0% |
| Capital Markets | 2.6% |
| Specialized REITs | 2.6% |
| Hotels, Restaurants & Leisure | 2.6% |
| Specialty Retail | 2.3% |
| Professional Services | 2.3% |
| Pharmaceuticals | 2.2% |
| Consumer Staples Distribution & Retail | 2.2% |
| Multi-Utilities | 2.1% |
| Oil, Gas & Consumable Fuels | 2.0% |
| Financial Services | 1.9% |
| Interactive Media & Services | 1.8% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 1.8% |
| Containers & Packaging | 1.7% |
| Electrical Equipment | 1.5% |
| Residential REITs | 1.5% |
| Building Products | 1.5% |
| Automobile Components | 1.4% |
| Marine Transportation | 1.3% |
| Industrial REITs | 1.1% |
| Mortgage Real Estate Investment Trusts (REITs) | 1.1% |
| Office REITs | 1.0% |
| Chemicals | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Household Durables | 0.7% |
| Commercial Services & Supplies | 0.7% |
| Construction & Engineering | 0.5% |
| Beverages | 0.5% |
| Hotel & Resort REITs | 0.5% |
| Retail REITs | 0.5% |
| Others\* | 1.2% |
|  | 105.8% |
| Liabilities in excess of other assets | (5.8)% |
|  | 100.0% |

---

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

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

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

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or by scanning the QR code below,

including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by

contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

![](g939246g6qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Small Company Fund

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

SHARE CLASS R4 <br> NASDAQ PSCJX <br> CUSIP 74441N853

MF109ER4

![](g939246g6pgim_investments.jpg)

------

![](g939246g7tsrbanner.jpg)

PGIM Jennison Small Company Fund

Class R6:

PJSQX

ANNUAL SHAREHOLDER REPORT – September 30, 2025

This annual shareholder report contains important information about the Class R6 shares of PGIM Jennison Small Company Fund (the "Fund")

for the period of October 1, 2024 to September 30, 2025.

You can find additional information about the Fund at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

. You can also request

this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

WHAT WERE THE FUND COSTS FOR THE LAST YEAR?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;Costs of a<br>$10,000 investment<br>| &nbsp;&nbsp;Costs paid as a percentage<br>of a $10,000 investment<br>|
| PGIM Jennison Small Company Fund—Class R6 | $70 | 0.69% |

---

WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?

■

US equities posted solid gains for the reporting period, though returns were marked by bouts of elevated volatility. Key influences included the

US presidential election, uncertainty regarding the US administration's tariff and trade policies, renewed enthusiasm around artificial

intelligence (AI), resilient corporate earnings, and a Federal Reserve rate cut late in the period. For the period, smaller-company stocks, as

represented by the Russell 2500 Index, performed well in aggregate but trailed the broader market, as represented by the S&P 500 Index.

■

Positions within the health care sector (led by medtech and biotechnology) and consumer staples sector (driven by distribution) added the most

to the Fund's performance relative to the Russell 2500 Index (the "Index").

■

Positions within the industrials sector, information technology sector (driven by software), real estate sector (specialized REITs and residential

REITs), and financials sector (especially financial services) were primary sources of underperformance relative to the Index.

MF109ER6

![](g939246g7pgim_investments.jpg)

------

HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?

The Fund's past performance is not a good predictor of the Fund's future performance.

The returns do not reflect the deduction of

taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

Visit

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.

The line graph reflects a hypothetical $10,000 investment in Class R6 shares and assumes that all recurring fees (including management fees)

were deducted and dividends and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would

have been lower.

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

Cumulative Performance: September 30, 2015 to September 30, 2025<br>Initial Investment of $10,000<br>

![](g939246g7jennsmallcompany_r6.jpg)

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

---

| | | | |
|:---|:---|:---|:---|
| Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 | Average Annual Total Returns as of 9/30/2025 |
|  | One Year (%) | Five Years (%) | Ten Years (%) |
| Class R6 | 3.92% | 12.33% | 10.64% |
| S&P 500 Index\* | 17.60% | 16.47% | 15.30% |
| Russell 2500 Index | 10.16% | 12.09% | 10.52% |
| S&P SmallCap 600 Index | 3.64% | 12.94% | 10.03% |

---

\*The Fund compares its performance against this broad-based index in response to regulatory requirements.

------

WHAT ARE SOME KEY FUND STATISTICS AS OF 9/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $3207699520<br>|
| Number of fund holdings | 121 |
| Total advisory fees paid for the year | $20818488<br>|
| Portfolio turnover rate for the year | 62% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 9/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 8.6% |
| Affiliated Mutual Fund - Short-Term Investment <br>(6.0% represents investments purchased with <br>collateral from securities on loan)<br>| 8.4% |
| Insurance | 5.5% |
| Semiconductors & Semiconductor Equipment | 5.5% |
| Software | 5.4% |
| Machinery | 4.9% |
| Textiles, Apparel & Luxury Goods | 4.5% |
| Metals & Mining | 4.3% |
| Biotechnology | 3.8% |
| Health Care Providers & Services | 3.7% |
| Trading Companies & Distributors | 3.3% |
| Aerospace & Defense | 3.0% |
| Capital Markets | 2.6% |
| Specialized REITs | 2.6% |
| Hotels, Restaurants & Leisure | 2.6% |
| Specialty Retail | 2.3% |
| Professional Services | 2.3% |
| Pharmaceuticals | 2.2% |
| Consumer Staples Distribution & Retail | 2.2% |
| Multi-Utilities | 2.1% |
| Oil, Gas & Consumable Fuels | 2.0% |
| Financial Services | 1.9% |
| Interactive Media & Services | 1.8% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 1.8% |
| Containers & Packaging | 1.7% |
| Electrical Equipment | 1.5% |
| Residential REITs | 1.5% |
| Building Products | 1.5% |
| Automobile Components | 1.4% |
| Marine Transportation | 1.3% |
| Industrial REITs | 1.1% |
| Mortgage Real Estate Investment Trusts (REITs) | 1.1% |
| Office REITs | 1.0% |
| Chemicals | 0.9% |
| Electronic Equipment, Instruments & Components | 0.9% |
| Household Durables | 0.7% |
| Commercial Services & Supplies | 0.7% |
| Construction & Engineering | 0.5% |
| Beverages | 0.5% |
| Hotel & Resort REITs | 0.5% |
| Retail REITs | 0.5% |
| Others\* | 1.2% |
|  | 105.8% |
| Liabilities in excess of other assets | (5.8)% |
|  | 100.0% |

---

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

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

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

------

ADDITIONAL INFORMATION

You can find additional information at

pgim.com/investments/mutual-funds/prospectuses-fact-sheets

or by scanning the QR code below,

including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by

contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.

![](g939246g7qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Small Company Fund

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

SHARE CLASS R6 <br> NASDAQ PJSQX <br> CUSIP 74441N887

MF109ER6

![](g939246g7pgim_investments.jpg)

------

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

Item 2 – Code of Ethics – See Exhibit (a) (1) of Item 19

As of the end of the period covered by this report, the registrant has adopted a code of ethics (the "Section 406 Standards for Investment Companies – Ethical Standards for Principal Executive and Financial Officers") that applies to the registrant's Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer.

The registrant hereby undertakes to provide any person, without charge, upon request, a copy of the code of ethics. To request a copy of the code of ethics, contact the registrant 800-225-1852, and ask for a copy of the Section 406 Standards for Investment Companies - Ethical Standards for Principal Executive and Financial Officers.

Item 3 – Audit Committee Financial Expert –

The registrant's Board has determined that Ms. Grace C. Torres, member of the Board's Audit Committee is an "audit committee financial expert," and that she is "independent," for purposes of this item.

Item 4 – Principal Accountant Fees and Services –

(a) Audit Fees

For the fiscal years ended September 30, 2025 and September 30, 2024, PricewaterhouseCoopers LLP ("PwC"), the Registrant's principal accountant, billed the Registrant $28,560 and $27,462, respectively, for professional services rendered for the audit of the Registrant's annual financial statements or services that are normally provided in connection with statutory and regulatory filings.

(b) Audit-Related Fees

For the fiscal years ended September 30, 2025 and September 30, 2024: none.

(c) Tax Fees

For the fiscal years ended September 30, 2025 and September 30, 2024: none.

(d) All Other Fees

For the fiscal years ended September 30, 2025 and September 30, 2024: none.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) (1) Audit Committee Pre-Approval Policies and Procedures

------

#### THE PGIM MUTUAL FUNDS

#### AUDIT COMMITTEE POLICY

#### on
*Pre-Approval of Services Provided by the Independent Accountants* 

The Audit Committee of each PGIM Mutual Fund is charged with the responsibility to monitor the independence of the Fund's independent accountants. As part of this responsibility, the Audit Committee must pre-approve the independent accounting firm's engagement to render audit and/or permissible non-audit services, as required by law. In evaluating a proposed engagement of the independent accountants, the Audit Committee will assess the effect that the engagement might reasonably be expected to have on the accountant's independence. The Committee's evaluation will be based on:

• a review of the nature of the professional services expected to be provided,

• a review of the safeguards put into place by the accounting firm to safeguard independence, and

• periodic meetings with the accounting firm.

#### Policy for Audit and Non-Audit Services Provided to the Funds
On an annual basis, the scope of audits for each Fund, audit fees and expenses, and audit-related and non-audit services (and fees proposed in respect thereof) proposed to be performed by the Fund's independent accountants will be presented by the Treasurer and the independent accountants to the Audit Committee for review and, as appropriate, approval prior to the initiation of such services.

Such presentation shall be accompanied by confirmation by both the Treasurer and the independent accountants that the proposed non-audit services will not adversely affect the independence of the independent accountants. Such proposed non-audit services shall be described in sufficient detail to enable the Audit Committee to assess the appropriateness of such services and fees, and the compatibility of the provision of such services with the auditor's independence. The Committee shall receive periodic reports on the progress of the audit and other services which are approved by the Committee or by the Committee Chair pursuant to authority delegated in this Policy.

The categories of services enumerated under "Audit Services", "Audit-related Services", and "Tax Services" are intended to provide guidance to the Treasurer and the independent accountants as to those categories of services which the Committee believes are generally consistent with the independence of the independent accountants and which the Committee (or the Committee Chair) would expect upon the presentation of specific proposals to pre-approve. The enumerated categories are not intended as an exclusive list of audit, audit-related or tax services, which the Committee (or the Committee Chair) would consider for pre-approval.

#### Audit Services
The following categories of audit services are considered to be consistent with the role of the Fund's independent accountants:

• Annual Fund financial statement audits

• Seed audits (related to new product filings, as required)

• SEC and regulatory filings and consents

#### Audit-related Services
The following categories of audit-related services are considered to be consistent with the role of the Fund's independent accountants:

• Accounting consultations

• Fund merger support services

------

• Agreed Upon Procedure Reports

• Attestation Reports

• Other Internal Control Reports

Individual audit-related services that fall within one of these categories (except for fund merger support services) and are not presented to the Audit Committee as part of the annual pre-approval process are subject to an authorized pre-approval by the Audit Committee so long as the estimated fee for those services does not exceed $30,000. Any services provided under such pre-approval will be reported to the Audit Committee at its next regular meeting. Should the amount of such services exceed $30,000 any additional fees will be subject to pre-approval by the Committee Chair (or any other Committee member on whom this responsibility has been delegated). Fees related to fund merger support services are subject to a separate authorized pre-approval by the Audit Committee with fees determined on a per occurrence and merger complexity basis.

#### Tax Services
The following categories of tax services are considered to be consistent with the role of the Fund's independent accountants:

• Tax compliance services related to the filing or amendment of the following:

• Federal, state and local income tax compliance; and,

• Sales and use tax compliance

• Timely RIC qualification reviews

• Tax distribution analysis and planning

• Tax authority examination services

• Tax appeals support services

• Accounting methods studies

• Fund merger support services

• Tax consulting services and related project

------

Individual tax services that fall within one of these categories and are not presented to the Audit Committee as part of the annual pre-approval process are subject to an authorized pre-approval by the Audit Committee so long as the estimated fee for those services does not exceed $30,000. Any services provided under such pre-approval will be reported to the Audit Committee at its next regular meeting. Should the amount of such services exceed $30,000 any additional fees will be subject to pre-approval by the Committee Chair (or any other Committee member on whom this responsibility has been delegated).

#### Other Non-Audit Services
Certain non-audit services that the independent accountants are legally permitted to render will be subject to pre-approval by the Committee or by one or more Committee members to whom the Committee has delegated this authority and who will report to the full Committee any pre-approval decisions made pursuant to this Policy. Non-audit services presented for pre-approval pursuant to this paragraph will be accompanied by a confirmation from both the Treasurer and the independent accountants that the proposed services will not adversely affect the independence of the independent accountants.

#### Proscribed Services
The Fund's independent accountants will not render services in the following categories of non-audit services:

• Bookkeeping or other services related to the accounting records or financial statements of the Fund

• Financial information systems design and implementation

• Appraisal or valuation services, fairness opinions, or contribution-in-kind reports

• Actuarial services

• Internal audit outsourcing services

• Management functions or human resources

• Broker or dealer, investment adviser, or investment banking services

• Legal services and expert services unrelated to the audit

• Any other service that the Public Company Accounting Oversight Board determines, by regulation, is impermissible.

#### Pre-approval of Non-Audit Services Provided to Other Entities Within the PGIM Fund Complex
Certain non-audit services provided to PGIM Investments LLC or any of its affiliates that also provide ongoing services to the PGIM Mutual Funds will be subject to pre-approval by the Audit Committee. The only non-audit services provided to these entities that will require pre-approval are those <u>related directly to the operations and financial reporting of the Funds</u>. Individual projects that are not presented to the Audit Committee as part of the annual pre-approval process will be subject to pre-approval by the Committee Chair (or any other Committee member on whom this responsibility has been delegated) so long as the estimated fee for those services does not exceed $30,000. Services presented for pre-approval pursuant to this paragraph will be accompanied by a confirmation from both the Treasurer and the independent accountants that the proposed services will not adversely affect the independence of the independent accountants.

Although the Audit Committee will not pre-approve all services provided to PGIM Investments LLC and its affiliates, the Committee will receive an annual report from the Fund's independent accounting firm showing the aggregate fees for all services provided to PGIM Investments and its affiliates.

------

---

| | |
|:---|:---|
| (e) (2) | <u>Percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X</u> –  |

---

---

| | | |
|:---|:---|:---|
|  | <u>Fiscal Year Ended</u><br> <u>September 30, 2025</u> | <u>Fiscal Year Ended</u><br> <u>September 30, 2024</u> |
| 4(b) | Not applicable. | Not applicable. |
| 4(c) | Not applicable. | Not applicable. |
| 4(d) | Not applicable. | Not applicable. |

---

(f) <u>Percentage of hours expended attributable to work performed by other than full time employees of principal accountant if greater</u> <u>than 50%.</u> 

The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees was 0%.

(g) <u>Non-Audit Fees</u> 

The aggregate non-audit fees billed by the Registrant's principal accountant for services rendered to the registrant's investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant for the fiscal years ended September 30, 2025 and September 30, 2024 was $0 and $0, respectively.

(h) <u>Principal Accountant's Independence</u> 

Not applicable as the Registrant's principal accountant has not provided non-audit services to the registrant's investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X.

(i) Not applicable.

(j) Not applicable.

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

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

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

------

![LOGO](g939246g69k63.jpg)

## PRUDENTIAL JENNISON SMALL COMPANY FUND, INC.
PGIM Jennison Small Company Fund

  

#### FINANCIAL STATEMENTS AND OTHER INFORMATION

#### SEPTEMBER 30, 2025
![LOGO](g939246sp005.jpg)

------

<u> **Table of Contents**</u>   <u> Financial Statements and Other Information</u>   <u> September 30, 2025</u>

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [PGIM Jennison Small Company Fund](#edgar939246_1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Notes to Financial Statements](#edgar939246_2) | 19 |
| <br> [**Other Information -** Form N-CSR Items 8-11](#edgar939246_3) |  |

---

------

Schedule of Investments

as of September 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 97.5%** |  |  |
| &nbsp;&nbsp; **COMMON STOCKS** |  |  |
| &nbsp;&nbsp; **Aerospace & Defense 3.0%** |  |  |
| &nbsp;&nbsp; Firefly Aerospace, Inc.\*(a) | 102129 | $2994422 |
| &nbsp;&nbsp; Hexcel Corp.(a) | 205431 | 12880524 |
| &nbsp;&nbsp; Karman Holdings, Inc.\* | 284931 | 20572018 |
| &nbsp;&nbsp; Mercury Systems, Inc.\*(a) | 182888 | 14155531 |
| &nbsp;&nbsp; VSE Corp.(a) | 278661 | 46324605 |
|  |  | 96927100 |
| &nbsp;&nbsp; **Air Freight & Logistics 0.2%** |  |  |
| &nbsp;&nbsp; C.H. Robinson Worldwide, Inc. | 47460 | 6283704 |
| &nbsp;&nbsp; **Automobile Components 1.4%** |  |  |
| &nbsp;&nbsp; Dorman Products, Inc.\* | 288730 | 45007232 |
| &nbsp;&nbsp; **Banks 8.5%** |  |  |
| &nbsp;&nbsp; Ameris Bancorp | 494426 | 36246370 |
| &nbsp;&nbsp; East West Bancorp, Inc.(a) | 524142 | 55794916 |
| &nbsp;&nbsp; Eastern Bankshares, Inc. | 1474051 | 26754026 |
| &nbsp;&nbsp; First Interstate BancSystem, Inc. (Class A Stock) | 524365 | 16711512 |
| &nbsp;&nbsp; Heritage Financial Corp. | 1390439 | 33634719 |
| &nbsp;&nbsp; MidWestOne Financial Group, Inc. | 612299 | 17321939 |
| &nbsp;&nbsp; Renasant Corp. | 548738 | 20242945 |
| &nbsp;&nbsp; Western Alliance Bancorp(a) | 254030 | 22029482 |
| &nbsp;&nbsp; Wintrust Financial Corp. | 334428 | 44291644 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273027553 |
| &nbsp;&nbsp; **Beverages 0.5%** |  |  |
| &nbsp;&nbsp; Celsius Holdings, Inc.\* | 298777 | 17176690 |
| &nbsp;&nbsp; **Biotechnology 3.8%** |  |  |
| &nbsp;&nbsp; Apellis Pharmaceuticals, Inc.\*(a) | 686856 | 15543551 |
| &nbsp;&nbsp; Arcutis Biotherapeutics, Inc.\* | 3168209 | 59720740 |
| &nbsp;&nbsp; Insmed, Inc.\* | 69561 | 10017480 |
| &nbsp;&nbsp; Newamsterdam Pharma Co. NV (Netherlands)\* | 1085912 | 30883337 |
| &nbsp;&nbsp; uniQure NV (Netherlands)\*(a) | 100874 | 5888015 |
|  |  | 122053123 |
| &nbsp;&nbsp; **Building Products 1.5%** |  |  |
| &nbsp;&nbsp; Griffon Corp. | 232575 | 17710587 |
| &nbsp;&nbsp; Hayward Holdings, Inc.\* | 1979902 | 29936118 |
|  |  | 47646705 |
| &nbsp;&nbsp; **Capital Markets 2.6%** |  |  |
| &nbsp;&nbsp; Acadian Asset Management, Inc. | 514966 | 24800762 |
| &nbsp;&nbsp; Houlihan Lokey, Inc. | 62421 | 12816280 |
| &nbsp;&nbsp; Marex Group PLC (United Kingdom) | 599306 | 20148668 |
| &nbsp;&nbsp; Moelis & Co. (Class A Stock) | 365338 | 26055906 |
|  |  | 83821616 |
| &nbsp;&nbsp; **Chemicals 0.9%** |  |  |
| &nbsp;&nbsp; Avient Corp. | 569911 | 18778567 |
| &nbsp;&nbsp; Element Solutions, Inc. | 389374 | 9800544 |
|  |  | 28579111 |

---

See Notes to Financial Statements.

PGIM Jennison Small Company Fund 1

------

Schedule of Investments (continued)

as of September 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Commercial Services & Supplies 0.7%** |  |  |
| &nbsp;&nbsp; ACV Auctions, Inc. (Class A Stock)\* | 2333882 | $23128770 |
| &nbsp;&nbsp; **Construction & Engineering 0.6%** |  |  |
| &nbsp;&nbsp; Great Lakes Dredge & Dock Corp.\* | 1456105 | 17458699 |
| &nbsp;&nbsp; **Consumer Staples Distribution & Retail 2.2%** |  |  |
| &nbsp;&nbsp; Performance Food Group Co.\*(a) | 666024 | 69293137 |
| &nbsp;&nbsp; **Containers & Packaging 1.7%** |  |  |
| &nbsp;&nbsp; Crown Holdings, Inc. | 556919 | 53792806 |
| &nbsp;&nbsp; **Diversified Consumer Services 0.3%** |  |  |
| &nbsp;&nbsp; Stubhub Holdings, Inc. (Class A Stock)\*(a) | 549795 | 9258548 |
| &nbsp;&nbsp; **Electric Utilities 1.8%** |  |  |
| &nbsp;&nbsp; IDACORP, Inc.(a) | 427499 | 56493993 |
| &nbsp;&nbsp; **Electrical Equipment 1.5%** |  |  |
| &nbsp;&nbsp; Generac Holdings, Inc.\*(a) | 51653 | 8646712 |
| &nbsp;&nbsp; Regal Rexnord Corp. | 278543 | 39954208 |
|  |  | 48600920 |
| &nbsp;&nbsp; **Electronic Equipment, Instruments & Components 0.9%** |  |  |
| &nbsp;&nbsp; Coherent Corp.\* | 261501 | 28168888 |
| &nbsp;&nbsp; **Financial Services 1.9%** |  |  |
| &nbsp;&nbsp; AvidXchange Holdings, Inc.\* | 636809 | 6336250 |
| &nbsp;&nbsp; Essent Group Ltd. | 147227 | 9357748 |
| &nbsp;&nbsp; Flywire Corp.\* | 1277482 | 17297106 |
| &nbsp;&nbsp; Shift4 Payments, Inc. (Class A Stock)\*(a) | 365191 | 28265783 |
|  |  | 61256887 |
| &nbsp;&nbsp; **Health Care Providers & Services 3.7%** |  |  |
| &nbsp;&nbsp; Encompass Health Corp. | 351310 | 44623396 |
| &nbsp;&nbsp; GeneDx Holdings Corp.\* | 157296 | 16947071 |
| &nbsp;&nbsp; Guardant Health, Inc.\* | 443087 | 27684076 |
| &nbsp;&nbsp; LifeStance Health Group, Inc.\* | 2454387 | 13499128 |
| &nbsp;&nbsp; Option Care Health, Inc.\* | 593084 | 16464012 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119217683 |
| &nbsp;&nbsp; **Health Care Technology 0.2%** |  |  |
| &nbsp;&nbsp; Waystar Holding Corp.\* | 174581 | 6620112 |
| &nbsp;&nbsp; **Hotel & Resort REITs 0.5%** |  |  |
| &nbsp;&nbsp; Summit Hotel Properties, Inc. | 3018911 | 16573821 |
| &nbsp;&nbsp; **Hotels, Restaurants & Leisure 2.6%** |  |  |
| &nbsp;&nbsp; Black Rock Coffee Bar, Inc. (Class A Stock)\*(a) | 280221 | 6686073 |
| &nbsp;&nbsp; Churchill Downs, Inc. | 457441 | 44376351 |
| &nbsp;&nbsp; Domino's Pizza, Inc.(a) | 36525 | 15768208 |
| &nbsp;&nbsp; Shake Shack, Inc. (Class A Stock)\* | 112793 | 10558553 |
| &nbsp;&nbsp; Texas Roadhouse, Inc. | 37036 | 6153531 |
|  |  | 83542716 |
| &nbsp;&nbsp; **Household Durables 0.7%** |  |  |
| &nbsp;&nbsp; Toll Brothers, Inc. | 170415 | 23541128 |

---

See Notes to Financial Statements.

------

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

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

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Industrial REITs 1.1%** |  |  |
| &nbsp;&nbsp; Plymouth Industrial REIT, Inc. | 1612209 | $36000627 |
| &nbsp;&nbsp; **Insurance 5.5%** |  |  |
| &nbsp;&nbsp; Axis Capital Holdings Ltd. | 454951 | 43584306 |
| &nbsp;&nbsp; Lincoln National Corp. | 534344 | 21550093 |
| &nbsp;&nbsp; Markel Group, Inc.\*(a) | 28384 | 54252042 |
| &nbsp;&nbsp; Neptune Insurance Holdings, Inc. (Class A Stock)\* | 54625 | 1092500 |
| &nbsp;&nbsp; RenaissanceRe Holdings Ltd. (Bermuda) | 89994 | 22852176 |
| &nbsp;&nbsp; Ryan Specialty Holdings, Inc. | 465941 | 26260435 |
| &nbsp;&nbsp; Skyward Specialty Insurance Group, Inc.\* | 136276 | 6481287 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176072839 |
| &nbsp;&nbsp; **Interactive Media & Services 1.8%** |  |  |
| &nbsp;&nbsp; Pinterest, Inc. (Class A Stock)\* | 1757187 | 56528706 |
| &nbsp;&nbsp; **IT Services 0.3%** |  |  |
| &nbsp;&nbsp; ASGN, Inc.\* | 190041 | 8998441 |
| &nbsp;&nbsp; **Life Sciences Tools & Services 0.2%** |  |  |
| &nbsp;&nbsp; Adaptive Biotechnologies Corp.\* | 462307 | 6916113 |
| &nbsp;&nbsp; **Machinery 4.9%** |  |  |
| &nbsp;&nbsp; Enerpac Tool Group Corp. | 255680 | 10482880 |
| &nbsp;&nbsp; Gates Industrial Corp. PLC\* | 1435327 | 35624816 |
| &nbsp;&nbsp; Lindsay Corp. | 217918 | 30630554 |
| &nbsp;&nbsp; Nordson Corp. | 28569 | 6483735 |
| &nbsp;&nbsp; RBC Bearings, Inc.\* | 67361 | 26290325 |
| &nbsp;&nbsp; Trinity Industries, Inc. | 1744282 | 48909667 |
|  |  | 158421977 |
| &nbsp;&nbsp; **Marine Transportation 1.3%** |  |  |
| &nbsp;&nbsp; Kirby Corp.\* | 481478 | 40179339 |
| &nbsp;&nbsp; **Metals & Mining 4.3%** |  |  |
| &nbsp;&nbsp; Eldorado Gold Corp. (Turkey)\*(a) | 3251856 | 93946120 |
| &nbsp;&nbsp; ERO Copper Corp. (Brazil)\* | 2214585 | 44858196 |
|  |  | 138804316 |
| &nbsp;&nbsp; **Mortgage Real Estate Investment Trusts (REITs) 1.1%** |  |  |
| &nbsp;&nbsp; Ladder Capital Corp. | 3255277 | 35515072 |
| &nbsp;&nbsp; **Multi-Utilities 2.1%** |  |  |
| &nbsp;&nbsp; NiSource, Inc. | 1546331 | 66956132 |
| &nbsp;&nbsp; **Office REITs 1.0%** |  |  |
| &nbsp;&nbsp; Cousins Properties, Inc. | 1108781 | 32088122 |
| &nbsp;&nbsp; **Oil, Gas & Consumable Fuels 2.0%** |  |  |
| &nbsp;&nbsp; Gulfport Energy Corp.\* | 245469 | 44424980 |
| &nbsp;&nbsp; Permian Resources Corp. | 1629154 | 20853171 |
|  |  | 65278151 |
| &nbsp;&nbsp; **Pharmaceuticals 2.2%** |  |  |
| &nbsp;&nbsp; Elanco Animal Health, Inc.\*(a) | 1696023 | 34157903 |
| &nbsp;&nbsp; Tarsus Pharmaceuticals, Inc.\* | 633609 | 37655383 |
|  |  | 71813286 |

---

See Notes to Financial Statements.

PGIM Jennison Small Company Fund 3

------

Schedule of Investments (continued)

as of September 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Professional Services 2.3%** |  |  |
| &nbsp;&nbsp; Huron Consulting Group, Inc.\* | 245588 | $36044951 |
| &nbsp;&nbsp; Korn Ferry | 459923 | 32185412 |
| &nbsp;&nbsp; Paycom Software, Inc.(a) | 29182 | 6073941 |
|  |  | 74304304 |
| &nbsp;&nbsp; **Residential REITs 1.5%** |  |  |
| &nbsp;&nbsp; Independence Realty Trust, Inc. | 2924355 | 47930179 |
| &nbsp;&nbsp; **Retail REITs 0.5%** |  |  |
| &nbsp;&nbsp; Urban Edge Properties | 789113 | 16153143 |
| &nbsp;&nbsp; **Semiconductors & Semiconductor Equipment 5.5%** |  |  |
| &nbsp;&nbsp; Impinj, Inc.\*(a) | 36062 | 6518207 |
| &nbsp;&nbsp; Lattice Semiconductor Corp.\* | 595014 | 43626426 |
| &nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc.\* | 252930 | 31487256 |
| &nbsp;&nbsp; Onto Innovation, Inc.\* | 23265 | 3006303 |
| &nbsp;&nbsp; Tower Semiconductor Ltd. (Israel)\* | 937036 | 67747703 |
| &nbsp;&nbsp; Universal Display Corp. | 164255 | 23591946 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175977841 |
| &nbsp;&nbsp; **Software 5.4%** |  |  |
| &nbsp;&nbsp; Agilysys, Inc.\* | 58433 | 6150073 |
| &nbsp;&nbsp; Appfolio, Inc. (Class A Stock)\* | 86719 | 23904959 |
| &nbsp;&nbsp; AvePoint, Inc.\* | 884895 | 13282274 |
| &nbsp;&nbsp; Confluent, Inc. (Class A Stock)\* | 466662 | 9239908 |
| &nbsp;&nbsp; CyberArk Software Ltd.\* | 14864 | 7181542 |
| &nbsp;&nbsp; I3 Verticals, Inc. (Class A Stock)\*(a) | 426144 | 13832634 |
| &nbsp;&nbsp; Intapp, Inc.\* | 538037 | 22005713 |
| &nbsp;&nbsp; Monday.com Ltd.\*(a) | 108781 | 21069792 |
| &nbsp;&nbsp; Procore Technologies, Inc.\*(a) | 128674 | 9382908 |
| &nbsp;&nbsp; Q2 Holdings, Inc.\* | 347120 | 25128017 |
| &nbsp;&nbsp; Riskified Ltd. (Class A Stock)\* | 2451436 | 11472720 |
| &nbsp;&nbsp; Sprout Social, Inc. (Class A Stock)\* | 732689 | 9466342 |
| &nbsp;&nbsp; Via Transportation, Inc. (Class A Stock)\*(a) | 17359 | 834622 |
|  |  | 172951504 |
| &nbsp;&nbsp; **Specialized REITs 2.6%** |  |  |
| &nbsp;&nbsp; Gaming & Leisure Properties, Inc. | 1379043 | 64277194 |
| &nbsp;&nbsp; National Storage Affiliates Trust | 638896 | 19307437 |
|  |  | 83584631 |
| &nbsp;&nbsp; **Specialty Retail 2.3%** |  |  |
| &nbsp;&nbsp; Boot Barn Holdings, Inc.\* | 94974 | 15739091 |
| &nbsp;&nbsp; Burlington Stores, Inc.\*(a) | 95451 | 24292280 |
| &nbsp;&nbsp; Five Below, Inc.\* | 135251 | 20923330 |
| &nbsp;&nbsp; Warby Parker, Inc. (Class A Stock)\* | 503630 | 13890115 |
|  |  | 74844816 |
| &nbsp;&nbsp; **Textiles, Apparel & Luxury Goods 4.5%** |  |  |
| &nbsp;&nbsp; Kontoor Brands, Inc. | 438412 | 34972125 |
| &nbsp;&nbsp; On Holding AG (Switzerland) (Class A Stock)\* | 714314 | 30251198 |
| &nbsp;&nbsp; Ralph Lauren Corp. | 253872 | 79604105 |
|  |  | 144827428 |
| &nbsp;&nbsp; **Trading Companies & Distributors 3.4%** |  |  |
| &nbsp;&nbsp; Core & Main, Inc. (Class A Stock)\* | 761909 | 41013561 |

---

See Notes to Financial Statements.

------

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

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

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Trading Companies & Distributors (cont'd.)** |  |  |
| &nbsp;&nbsp; Rush Enterprises, Inc. (Class A Stock) | 225237 | $12043422 |
| &nbsp;&nbsp; WESCO International, Inc. | 256187 | 54183551 |
|  |  | 107240534 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $2,523,600,660) |  | 3128858443 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 8.3%** |  |  |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS** |  |  |
| &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.308%)(wb) | 71939425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71939425 |
| &nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.350%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $193,324,081; includes $192,470,660 of cash collateral for securities on loan)(b)(wb) | 193470623 | 193354540 |
| &nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $265,263,506) |  | 265293965 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 105.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $2,788,864,166) |  | 3394152408 |
| &nbsp;&nbsp; Liabilities in excess of other assets (5.8)% |  | (186452888) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  | $3207699520 |

---

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

REITs—Real Estate Investment Trust

SOFR—Secured Overnight Financing Rate

\* Non-income producing security.

(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $186,031,618; cash collateral of $192,470,660 (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.

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

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

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

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

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

The following is a summary of the inputs used as of September 30, 2025 in valuing such portfolio securities:

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities** |  |  |  |
|  **Assets** |  |  |  |
|  **Long-Term Investments** |  |  |  |
|  Common Stocks |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96927100 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Freight & Logistics | 6283704 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobile Components | 45007232 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273027553 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beverages | 17176690 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | 122053123 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Building Products | 47646705 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | 83821616 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemicals | 28579111 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Services & Supplies | 23128770 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering | 17458699 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | 69293137 |  |  |

---

See Notes to Financial Statements.

PGIM Jennison Small Company Fund 5

------

Schedule of Investments (continued)

as of September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities (continued)** |  |  |  |
|  **Assets (continued)** |  |  |  |
|  **Long-Term Investments (continued)** |  |  |  |
|  Common Stocks (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Containers & Packaging | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53792806 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified Consumer Services | 9258548 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | 56493993 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | 48600920 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | 28168888 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Services | 61256887 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119217683 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Technology | 6620112 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotel & Resort REITs | 16573821 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | 83542716 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Household Durables | 23541128 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial REITs | 36000627 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance | 174980339 | 1092500 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | 56528706 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IT Services | 8998441 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | 6916113 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Machinery | 158421977 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marine Transportation | 40179339 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | 138804316 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage Real Estate Investment Trusts (REITs) | 35515072 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | 66956132 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Office REITs | 32088122 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | 65278151 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | 71813286 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Professional Services | 74304304 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential REITs | 47930179 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retail REITs | 16153143 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | 175977841 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Software | 172951504 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | 83584631 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | 74844816 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | 144827428 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors | 107240534 |  |  |
|  **Short-Term Investments** |  |  |  |
|  Affiliated Mutual Funds | 265293965 |  |  |
|  **Total** | $**3393059908** | **$1092500** | **$—** |

---

#### Industry Classification:
The industry classification of investments and liabilities in excess of other assets shown as a percentage of net assets as of September 30, 2025 were as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp; Banks | 8.5 |
| &nbsp;&nbsp; Affiliated Mutual Funds (6.0% represents investments purchased withcollateral from securities on loan) | 8.3 |
| &nbsp;&nbsp; Insurance | 5.5 |
| &nbsp;&nbsp; Semiconductors & Semiconductor Equipment | 5.5 |
| &nbsp;&nbsp; Software | 5.4 |
| &nbsp;&nbsp; Machinery | 4.9 |
| &nbsp;&nbsp; Textiles, Apparel & Luxury Goods | 4.5 |
| &nbsp;&nbsp; Metals & Mining | 4.3 |
| &nbsp;&nbsp; Biotechnology | 3.8 |
| &nbsp;&nbsp; Health Care Providers & Services | 3.7 |
| &nbsp;&nbsp; Trading Companies & Distributors | 3.4 |
| &nbsp;&nbsp; Aerospace & Defense | 3.0 |
| &nbsp;&nbsp; Capital Markets | 2.6 |
| &nbsp;&nbsp; Specialized REITs | 2.6 |
| &nbsp;&nbsp; Hotels, Restaurants & Leisure | 2.6 |
| &nbsp;&nbsp; Specialty Retail | 2.3 |
| &nbsp;&nbsp; Professional Services | 2.3 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; Pharmaceuticals | 2.2 |
| &nbsp;&nbsp; Consumer Staples Distribution & Retail | 2.2 |
| &nbsp;&nbsp; Multi-Utilities | 2.1 |
| &nbsp;&nbsp; Oil, Gas & Consumable Fuels | 2 |
| &nbsp;&nbsp; Financial Services | 1.9 |
| &nbsp;&nbsp; Interactive Media & Services | 1.8 |
| &nbsp;&nbsp; Electric Utilities | 1.8 |
| &nbsp;&nbsp; Containers & Packaging | 1.7 |
| &nbsp;&nbsp; Electrical Equipment | 1.5 |
| &nbsp;&nbsp; Residential REITs | 1.5 |
| &nbsp;&nbsp; Building Products | 1.5 |
| &nbsp;&nbsp; Automobile Components | 1.4 |
| &nbsp;&nbsp; Marine Transportation | 1.3 |
| &nbsp;&nbsp; Industrial REITs | 1.1 |
| &nbsp;&nbsp; Mortgage Real Estate Investment Trusts (REITs) | 1.1 |
| &nbsp;&nbsp; Office REITs | 1 |
| &nbsp;&nbsp; Chemicals | 0.9 |
| &nbsp;&nbsp; Electronic Equipment, Instruments & Components | 0.9 |

---

See Notes to Financial Statements.

------

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

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

#### Industry Classification (continued):

---

| | |
|:---|:---|
| &nbsp;&nbsp; Household Durables | 0.7 |
| &nbsp;&nbsp; Commercial Services & Supplies | 0.7 |
| &nbsp;&nbsp; Construction & Engineering | 0.6 |
| &nbsp;&nbsp; Beverages | 0.5 |
| &nbsp;&nbsp; Hotel & Resort REITs | 0.5 |
| &nbsp;&nbsp; Retail REITs | 0.5 |
| &nbsp;&nbsp; Diversified Consumer Services | 0.3 |
| &nbsp;&nbsp; IT Services | 0.3 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; Life Sciences Tools & Services | 0.2% |
| &nbsp;&nbsp; Health Care Technology | 0.2 |
| &nbsp;&nbsp; Air Freight & Logistics | 0.2 |
|  | 105.8 |
| &nbsp;&nbsp; Liabilities in excess of other assets | (5.8) |
|  | 100.0% |

---

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

#### Offsetting of financial instrument/transaction assets and liabilities:

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Gross Market Value of<br>Recognized Assets/(Liabilities)** | **Collateral<br>Pledged/(Received)(1)** | **Net Amount** |
| &nbsp;&nbsp; Securities on Loan | $186031618 | $(186031618) | $— |

---

(1) Collateral amount disclosed by the Fund is limited to the market value of financial instruments/transactions.

See Notes to Financial Statements.

PGIM Jennison Small Company Fund 7

------

Statement of Assets and Liabilities

as of September 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value, including securities on loan of $186,031,618: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $2,523,600,660) | $3128858443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $265,263,506) | 265293965 |
| &nbsp;&nbsp; Receivable for investments sold | 18882301 |
| &nbsp;&nbsp; Dividends receivable | 2706373 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 1237419 |
| &nbsp;&nbsp; Tax reclaim receivable | 66251 |
| &nbsp;&nbsp; Prepaid expenses | 25690 |
| &nbsp;&nbsp; **Total Assets** | 3417070442 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Payable to broker for collateral for securities on loan | 192470660 |
| &nbsp;&nbsp; Payable for investments purchased | 11261706 |
| &nbsp;&nbsp; Payable for Fund shares purchased | 2451795 |
| &nbsp;&nbsp; Management fee payable | 1765755 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 1226433 |
| &nbsp;&nbsp; Distribution fee payable | 161806 |
| &nbsp;&nbsp; Affiliated transfer agent fee payable | 32767 |
| &nbsp;&nbsp; **Total Liabilities** | 209370922 |
| &nbsp;&nbsp; **Net Assets** | $3207699520 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $1333066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 2386045539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 820320915 |
| &nbsp;&nbsp; **Net assets, September 30, 2025** | $3207699520 |

---

See Notes to Financial Statements.

------

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp; Net asset value and redemption price per share,<br> ($431,091,423 ÷ 20,318,499 shares of common stock issued and outstanding) | $21.22 |
| &nbsp;&nbsp; Maximum sales charge (5.50% of offering price) | 1.24 |
| &nbsp;&nbsp; Maximum offering price to public | $22.46 |
| &nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($8,707,581 ÷ 307,806 shares of common stock issued and outstanding) | $28.29 |
| &nbsp;&nbsp; **Class R** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($108,559,948 ÷ 5,504,455 shares of common stock issued and outstanding) | $19.72 |
| &nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($487,124,073 ÷ 19,205,091 shares of common stock issued and outstanding) | $25.36 |
| &nbsp;&nbsp; **Class R2** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($11,980,018 ÷ 502,688 shares of common stock issued and outstanding) | $23.83 |
| &nbsp;&nbsp; **Class R4** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($9,778,247 ÷ 402,744 shares of common stock issued and outstanding) | $24.28 |
| &nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($2,150,458,230 ÷ 87,065,351 shares of common stock issued and outstanding) | $24.70 |

---

See Notes to Financial Statements.

PGIM Jennison Small Company Fund 9

------

Statement of Operations

Year Ended September 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** |  |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Unaffiliated dividend income (net of $1,668 foreign withholding tax) | $35133188 |
| &nbsp;&nbsp; Affiliated dividend income | 3286923 |
| &nbsp;&nbsp; Income from securities lending, net (including affiliated income of $383,412) | 480675 |
| &nbsp;&nbsp; Total income | 38900786 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 20868591 |
| &nbsp;&nbsp; Distribution fee(a) | 2281549 |
| &nbsp;&nbsp; Shareholder servicing fees(a) | 25562 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $244,347)(a) | 1439587 |
| &nbsp;&nbsp; Custodian and accounting fees | 183175 |
| &nbsp;&nbsp; Shareholders' reports | 154586 |
| &nbsp;&nbsp; Registration fees(a) | 87485 |
| &nbsp;&nbsp; Professional fees | 52303 |
| &nbsp;&nbsp; Directors' fees | 50700 |
| &nbsp;&nbsp; Audit fee | 27780 |
| &nbsp;&nbsp; Miscellaneous | 65975 |
| &nbsp;&nbsp; **Total expenses** | 25237293 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (50103) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distribution fee waiver(a) | (275059) |
| &nbsp;&nbsp; **Net expenses** | 24912131 |
| &nbsp;&nbsp; Net investment income (loss) | 13988655 |
| &nbsp;&nbsp; **Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions** |  |
| &nbsp;&nbsp; Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment transactions (including affiliated of $(35760)) | 243974148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | 7029 |
|  | 243981177 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments (including affiliated of $30,305) | (128532298) |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | 115448879 |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $129437534 |
| <br> (a) Class specific expenses and waivers were as follows: |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class R** | **Class Z** | **Class R2** | **Class R4** | **Class R6** |
|  Distribution fee | 1314403 | 94507 | 825178 |  | 47461 |  |  |
|  Shareholder servicing fees |  |  |  |  | 18984 | 6578 |  |
|  Transfer agent's fees and expenses | 596165 | 17120 | 139005 | 579607 | 63169 | 10897 | 33624 |
|  Registration fees | 16758 | 9373 | 6105 | 26345 | 6508 | 7018 | 15378 |
|  Fee waiver and/or expense reimbursement |  |  |  |  | (41914) | (8189) |  |
|  Distribution fee waiver |  |  | (275059) |  |  |  |  |

---

See Notes to Financial Statements.

------

Statements of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | **Year Ended** | **Year Ended** |
|  | **September 30,** | **September 30,** |
|  | **2025** | **2024** |
| &nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp; Operations |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $13988655 | $21179792 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | 243981177 | 66018144 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments | (128532298) | 604415679 |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 129437534 | 691613615 |
| &nbsp;&nbsp; Dividends and Distributions |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp; Class A | (13102472) | (1678509) |
| &nbsp;&nbsp; Class C | (186387) |  |
| &nbsp;&nbsp; Class R | (3365419) | (343653) |
| &nbsp;&nbsp; Class Z | (12506105) | (2025582) |
| &nbsp;&nbsp; Class R2 | (544207) | (50330) |
| &nbsp;&nbsp; Class R4 | (141817) | (13092) |
| &nbsp;&nbsp; Class R6 | (61165624) | (11887716) |
|  | (91012031) | (15998882) |
| &nbsp;&nbsp; Fund share transactions (Net of share conversions) |  |  |
| &nbsp;&nbsp; Net proceeds from shares sold | 608140609 | 524835417 |
| &nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 86560482 | 15390867 |
| &nbsp;&nbsp; Cost of shares purchased | (820040930) | (632095286) |
| &nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | (125339839) | (91869002) |
| &nbsp;&nbsp; Total increase (decrease) | (86914336) | 583745731 |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of year | 3294613856 | 2710868125 |
| &nbsp;&nbsp; End of year | $3207699520 | $3294613856 |

---

See Notes to Financial Statements.

PGIM Jennison Small Company Fund 11

------

Financial Highlights

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class A Shares** | | | | | |
|  | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Year** | $21.08 | $16.84 | $16.38 | $28.33 | $20.68 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.02 | 0.07 | 0.08 | 0.01 | (0.10) |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.73 | 4.24 | 1.08 | (3.78) | 11.23 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.75 | 4.31 | 1.16 | (3.77) | 11.13 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.12) | (0.07) |  | (0.08) |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.49) |  | (0.70) | (8.10) | (3.48) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.61) | (0.07) | (0.70) | (8.18) | (3.48) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of year | $21.22 | $21.08 | $16.84 | $16.38 | $28.33 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | 3.48% | 25.67% | 6.93% | (20.52)% | 58.28% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of year (000) | $431091 | $464825 | $411858 | $438659 | $616160 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $438134 | $440769 | $453234 | $553509 | $575482 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.12% | 1.13% | 1.15% | 1.14% | 1.13% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.12% | 1.13% | 1.15% | 1.14% | 1.13% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.12% | 0.38% | 0.43% | 0.07% | (0.38)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(d)</sup> | 62% | 66% | 59% | 53% | 64% |

---

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

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

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

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

See Notes to Financial Statements.

------

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class C Shares** | | | | | |
|  | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2025** | **2024** | **2023** | **2022<sup>(a)</sup>** | **2021<sup>(a)</sup>** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(b)</sup>:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Year** | $28.04 | $22.51 | $21.86 | $35.44 | $33.72 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.20)<sup>(c)</sup> | (0.12)<sup>(c)</sup> | (0.09)<sup>(c)</sup> | (0.20)<sup>(c)</sup> | (0.36) |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.95 | 5.65 | 1.44 | (5.20) | 16.00 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.75 | 5.53 | 1.35 | (5.40) | 15.64 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.01) |  |  | (0.08) |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.49) |  | (0.70) | (8.10) | (13.92) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.50) |  | (0.70) | (8.18) | (13.92) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of year | $28.29 | $28.04 | $22.51 | $21.86 | $35.44 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 2.61% | 24.57% | 6.04% | (21.10)% | 57.01% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of year (000) | $8708 | $10363 | $10334 | $13646 | $21421 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $9451 | $10279 | $12652 | $18021 | $23032 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.96% | 2.00% | 1.97% | 1.91% | 1.88% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.96% | 2.00% | 1.97% | 1.91% | 1.88% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.72)% | (0.49)% | (0.38)% | (0.72)% | (1.11)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup> | 62% | 66% | 59% | 53% | 64% |

---

(a) The Fund had a 4 to 1 reverse stock split effective December 27, 2021. Prior year net asset values and per share amounts have been restated to reflect the impact of the reverse stock split (see Note 7 in the Notes to Financial Statements). The net asset value reported at the original dates prior to the reverse stock split was $8.86 for the year ended September 30, 2021.

(b) Calculated based on average shares outstanding during the year.

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

(d) Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

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

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

See Notes to Financial Statements.

PGIM Jennison Small Company Fund 13

------

Financial Highlights (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class R Shares** | | | | | |
|  | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Year** | $19.63 | $15.70 | $15.35 | $27.07 | $19.92 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.01)<sup>(b)</sup> | 0.03 | 0.04 | (0.03)<sup>(b)</sup> | (0.14) |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.67 | 3.95 | 1.01 | (3.51) | 10.77 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.66 | 3.98 | 1.05 | (3.54) | 10.63 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.08) | (0.05) |  | (0.08) |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.49) |  | (0.70) | (8.10) | (3.48) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.57) | (0.05) | (0.70) | (8.18) | (3.48) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of year | $19.72 | $19.63 | $15.70 | $15.35 | $27.07 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 3.30% | 25.42% | 6.67% | (20.65)% | 57.95% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of year (000) | $108560 | $118889 | $108534 | $111936 | $161790 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $110024 | $115049 | $117113 | $142659 | $164085 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.31% | 1.31% | 1.33% | 1.33% | 1.33% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.56% | 1.56% | 1.58% | 1.58% | 1.58% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.07)% | 0.19% | 0.24% | (0.13)% | (0.58)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 62% | 66% | 59% | 53% | 64% |

---

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

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

(c) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

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

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

See Notes to Financial Statements.

------

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class Z Shares** | | | | | |
|  | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Year** | $25.07 | $20.00 | $19.31 | $31.93 | $22.88 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.10 | 0.16 | 0.16 | 0.10 | (0.01) |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.87 | 5.02 | 1.27 | (4.54) | 12.54 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.97 | 5.18 | 1.43 | (4.44) | 12.53 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.19) | (0.11) | (0.04) | (0.08) |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.49) |  | (0.70) | (8.10) | (3.48) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.68) | (0.11) | (0.74) | (8.18) | (3.48) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of year | $25.36 | $25.07 | $20.00 | $19.31 | $31.93 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | 3.76% | 26.07% | 7.28% | (20.23)% | 58.79% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of year (000) | $487124 | $432744 | $363373 | $371658 | $480732 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $457594 | $399370 | $398223 | $450927 | $527437 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.82% | 0.81% | 0.81% | 0.81% | 0.81% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.82% | 0.81% | 0.81% | 0.81% | 0.81% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.43% | 0.70% | 0.78% | 0.41% | (0.05)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(d)</sup> | 62% | 66% | 59% | 53% | 64% |

---

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

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

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

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

See Notes to Financial Statements.

PGIM Jennison Small Company Fund 15

------

Financial Highlights (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class R2 Shares** | | | | | |
|  | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Year** | $23.59 | $18.84 | $18.26 | $30.70 | $22.18 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.02 | 0.07 | 0.07 | 0.01 | (0.12) |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.80 | 4.74 | 1.21 | (4.27) | 12.12 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.82 | 4.81 | 1.28 | (4.26) | 12.00 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.09) | (0.06) |  | (0.08) |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.49) |  | (0.70) | (8.10) | (3.48) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.58) | (0.06) | (0.70) | (8.18) | (3.48) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of year | $23.83 | $23.59 | $18.84 | $18.26 | $30.70 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | 3.41% | 25.58% | 6.87% | (20.53)% | 58.24% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of year (000) | $11980 | $20813 | $12746 | $4889 | $5582 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $18984 | $18094 | $9212 | $4980 | $6623 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.18% | 1.18% | 1.18% | 1.18% | 1.18% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.40% | 1.38% | 1.40% | 1.35% | 1.28% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.08% | 0.32% | 0.38% | 0.02% | (0.42)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(d)</sup> | 62% | 66% | 59% | 53% | 64% |

---

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

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

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

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

See Notes to Financial Statements.

------

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class R4 Shares** | | | | | |
|  | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Year** | $24.02 | $19.17 | $18.54 | $31.00 | $22.32 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.08 | 0.12 | 0.13 | 0.08 | (0.04) |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.83 | 4.82 | 1.21 | (4.36) | 12.20 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.91 | 4.94 | 1.34 | (4.28) | 12.16 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.16) | (0.09) | (0.01) | (0.08) |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.49) |  | (0.70) | (8.10) | (3.48) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.65) | (0.09) | (0.71) | (8.18) | (3.48) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of year | $24.28 | $24.02 | $19.17 | $18.54 | $31.00 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | 3.71% | 25.88% | 7.13% | (20.34)% | 58.59% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of year (000) | $9778 | $5480 | $2046 | $724 | $680 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $6578 | $3612 | $1982 | $751 | $1569 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.93% | 0.93% | 0.93% | 0.93% | 0.93% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.05% | 1.11% | 1.27% | 1.81% | 1.37% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.32% | 0.56% | 0.64% | 0.34% | (0.16)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(d)</sup> | 62% | 66% | 59% | 53% | 64% |

---

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

(b) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

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

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

See Notes to Financial Statements.

PGIM Jennison Small Company Fund 17

------

Financial Highlights (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Class R6 Shares** | | | | | |
|  | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** | **Year Ended September 30,** |
|  | **2025** | **2024** | **2023** | **2022** | **2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Year** | $24.44 | $19.49 | $18.83 | $31.30 | $22.46 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.13 | 0.18 | 0.18 | 0.12 | 0.01 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.85 | 4.90 | 1.24 | (4.41) | 12.31 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.98 | 5.08 | 1.42 | (4.29) | 12.32 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.23) | (0.13) | (0.06) | (0.08) |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.49) |  | (0.70) | (8.10) | (3.48) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.72) | (0.13) | (0.76) | (8.18) | (3.48) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of year | $24.70 | $24.44 | $19.49 | $18.83 | $31.30 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 3.92% | 26.26% | 7.38% | (20.17)% | 59.03% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of year (000) | $2150458 | $2241500 | $1801978 | $1645815 | $914526 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $2092865 | $2009077 | $1850578 | $950556 | $758747 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.69% | 0.69% | 0.69% | 0.70% | 0.69% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.69% | 0.69% | 0.69% | 0.70% | 0.69% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.56% | 0.82% | 0.89% | 0.49% | 0.05% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 62% | 66% | 59% | 53% | 64% |

---

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

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

(c) Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

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

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

See Notes to Financial Statements.

------

Notes to Financial Statements

**1.** **Organization** 

Prudential Jennison Small Company Fund, Inc. (the "Registered Investment Company" or "RIC") is registered under the Investment Company Act of 1940, as amended ("1940 Act"), as an open-end management investment company. The RIC is organized as a Maryland Corporation and PGIM Jennison Small Company Fund (the "Fund") is the sole series of the RIC. The Fund is classified as a diversified fund for purposes of the 1940 Act.

The investment objective of the Fund is to achieve capital growth.

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

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

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

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

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

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

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

Common or preferred stocks, exchange-traded funds ("ETFs") and derivative instruments, if applicable, that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange where the security principally trades. Securities traded via Nasdaq are valued at the Nasdaq official closing price. To the extent these securities are valued at the last sale price or Nasdaq official closing price, they are classified as Level 1 in the fair value hierarchy. In the event that no sale or official closing price on a valuation date exists, these securities are generally valued at the mean between the last reported bid and ask prices, or at the last bid price in the absence of an ask price. These securities are classified as Level 2 in the fair value hierarchy.

PGIM Jennison Small Company Fund 19

------

Notes to Financial Statements (continued)

Foreign equities traded on foreign securities exchanges are generally valued using pricing vendor services that provide model prices derived using adjustment factors based on information such as local closing price, relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable. Securities valued using such model prices are classified as Level 2 in the fair value hierarchy. The models generate an evaluated adjustment factor for each security, which is applied to the local closing price to adjust it for post closing market movements up to the time the Fund is valued. Utilizing that evaluated adjustment factor, the vendor provides an evaluated price for each security. If the vendor does not provide an evaluated price, securities are valued in accordance with exchange-traded common and preferred stock valuation policies discussed above.

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

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

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

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

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

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

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

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

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

------

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

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

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

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

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

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

---

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

---

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

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

**3.** **Agreements** 

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

PGIM Jennison Small Company Fund 21

------

Notes to Financial Statements (continued)

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

Fees payable under the management agreement are computed daily and paid monthly. For the reporting period ended September 30, 2025, the contractual and effective management fee rates were as follows:

---

| | |
|:---|:---|
| **Contractual Management Rate** | **Effective Management Fee, before any waivers and/or expense**<br> **reimbursements** |
| &nbsp;&nbsp; 0.70% to $1 billion of average daily net assets; | 0.67% |
| &nbsp;&nbsp; 0.65% over $1 billion of average daily net assets |  |

---

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

Where applicable, the Manager agrees to waive management fees or shared operating expenses on any share class to the same extent that it waives such expenses on any other share class. In addition, total annual operating expenses for Class R6 shares will not exceed total annual operating expenses for Class Z shares. Fees and/or expenses waived and/or reimbursed by the Manager for the purpose of preventing the expenses from exceeding a certain expense ratio limit may be recouped by the Manager within the same fiscal year during which such waiver and/or reimbursement is made if such recoupment can be realized without exceeding the expense limit in effect at the time of the waiver/reimbursement and/or recoupment for that fiscal year, as applicable. The expense limitations attributable to each class are as follows:

---

| | |
|:---|:---|
| **Class** | **Expense<br>Limitations** |
| &nbsp;&nbsp; A | —% |
| &nbsp;&nbsp; C |  |
| &nbsp;&nbsp; R |  |
| &nbsp;&nbsp; Z |  |
| &nbsp;&nbsp; R2 | 1.18 |
| &nbsp;&nbsp; R4 | 0.93 |
| &nbsp;&nbsp; R6 |  |

---

The RIC, on behalf of the Fund, has a distribution agreement with Prudential Investment Management Services LLC ("PIMS"), which acts as the distributor of the Class A, Class C, Class R, Class Z, Class R2, Class R4 and Class R6 shares of the Fund. The Fund compensates PIMS for distributing and servicing the Fund's Class A, Class C, Class R and Class R2 shares, pursuant to the plans of distribution (the "Distribution Plans"), regardless of expenses actually incurred by PIMS.

Pursuant to the Distribution Plans, the Fund compensates PIMS for distribution related activities at an annual rate based on average daily net assets per class. PIMS has contractually agreed through January 31, 2027 to limit such fees on certain classes based on the average daily net assets. The distribution fees are accrued daily and payable monthly.

The Fund has adopted a Shareholder Services Plan with respect to Class R2 and Class R4 shares. Under the terms of the Shareholder Services Plan, Class R2 and Class R4 shares are authorized to compensate Prudential Mutual Fund Services LLC ("PMFS"), its affiliates or third-party service providers for services rendered to the shareholders of such Class R2 or Class R4 shares. The shareholder service fee is accrued daily and paid monthly, as applicable.

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

---

| | | | |
|:---|:---|:---|:---|
| **Class** | **Gross Distribution Fee** | **Net Distribution Fee** | **Shareholder Service Fee** |
| &nbsp;&nbsp; A | 0.30% | 0.30% | N/A% |
| &nbsp;&nbsp; C | 1.00 | 1.00 | N/A |
| &nbsp;&nbsp; R | 0.75 | 0.50 | N/A |
| &nbsp;&nbsp; Z | N/A | N/A | N/A |
| &nbsp;&nbsp; R2 | 0.25 | 0.25 | 0.10 |
| &nbsp;&nbsp; R4 | N/A | N/A | 0.10 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **Class** | **Gross Distribution Fee** | **Net Distribution Fee** | **Shareholder Service Fee** |
| &nbsp;&nbsp; R6 | N/A% | N/A% | N/A% |

---

For the year ended September 30, 2025, PIMS received front-end sales charges ("FESL") resulting from sales of certain class shares and contingent deferred sales charges ("CDSC") imposed upon redemptions by certain shareholders. From these fees, PIMS paid such sales charges to broker-dealers, who in turn paid commissions to salespersons and incurred other distribution costs. The sales charges are as follows where applicable:

---

| | | |
|:---|:---|:---|
| **Class** | **FESL** | **CDSC** |
| &nbsp;&nbsp; A | $149422 | $1453 |
| &nbsp;&nbsp; C |  | 421 |

---

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

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

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

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

The Fund may enter into certain securities purchase or sale transactions under Board approved Rule 17a-7 procedures. Rule 17a-7 is an exemptive rule under the 1940 Act that, subject to certain conditions, permits purchase and sale transactions among affiliated investment companies, or between an investment company and a person that is affiliated solely by reason of having a common (or affiliated) investment adviser, common directors/trustees, and/or common officers. For the year ended September 30, 2025, no Rule 17a-7 transactions were entered into by the Fund.

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

The aggregate cost of purchases and proceeds from sales of portfolio securities (excluding short-term investments and U.S. Government securities) for the year ended September 30, 2025, were as follows:

---

| | |
|:---|:---|
| **Cost of Purchases** | **Proceeds from Sales** |
| &nbsp;&nbsp; $1897285227 | $2028977262 |

---

A summary of the cost of purchases and proceeds from sales of shares of affiliated mutual funds for the year ended September 30, 2025, is presented as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value,<br>Beginning**<br> **of**<br> **Year** | **Cost of<br>Purchases** | **Proceeds**<br> **from Sales** | **Change in<br>Unrealized<br>Gain<br>(Loss)** | **Realized<br>Gain<br>(Loss)** | **Value,**<br> **End**<br> **of**<br> **Year** | **Shares,**<br> **End**<br> **of**<br> **Year** | **Income** | **Capital**<br> **Gain**<br> **Distributions** |
|  **Short-Term Investments - Affiliated Mutual Funds:** | **Short-Term Investments - Affiliated Mutual Funds:** | **Short-Term Investments - Affiliated Mutual Funds:** | **Short-Term Investments - Affiliated Mutual Funds:** | **Short-Term Investments - Affiliated Mutual Funds:** |  |  |  |  |
|  PGIM Core Government Money Market Fund (7-day effective yield 4.308%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.308%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.308%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.308%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.308%)<sup>(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.308%)<sup>(wb)</sup> |  |  |  |
| $142205118 | $915073257 | $985338950 | $— | $— | $71939425 | 71939425 | $3286923 | $— |
|  PGIM Institutional Money Market Fund (7-day effective yield 4.350%)<sup>(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.350%)<sup>(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.350%)<sup>(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.350%)<sup>(b)(wb)</sup> |  |  |  |  |  |
| 58697861 | 1457823358 | 1323161224 | 30305 | (35760) | 193354540 | 193470623 | 383412<sup>(1)</sup> |  |
| $200902979 | $2372896615 | $2308500174 | $30305 | $(35760) | $265293965 |  | $3670335 | $— |

---

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

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

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

PGIM Jennison Small Company Fund 23

------

Notes to Financial Statements (continued)

**6.** **Distributions and Tax Information** 

Distributions to shareholders, which are determined in accordance with federal income tax regulations and which may differ from GAAP, are recorded on the ex-date.

For the year ended September 30, 2025, the tax character of dividends paid as reflected in the Statement of Changes in Net Assets were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Ordinary**<br>**Income** | **Long-Term**<br> **Capital Gains** | **Tax Return**<br> **of Capital** | **Total Dividends<br>and Distributions** |
| &nbsp;&nbsp; $26776787 | $64235244 | $— | $91012031 |

---

For the year ended September 30, 2024, the tax character of dividends paid as reflected in the Statement of Changes in Net Assets were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Ordinary**<br>**Income** | **Long-Term**<br> **Capital Gains** | **Tax Return**<br> **of Capital** | **Total Dividends**<br> **and Distributions** |
| &nbsp;&nbsp; $15998882 | $— | $— | $15998882 |

---

For the year ended September 30, 2025, the Fund had the following amounts of accumulated undistributed earnings on a tax basis:

---

| | |
|:---|:---|
| **Undistributed**<br> **Ordinary**<br> **Income** | **Undistributed**<br> **Long-Term**<br> **Capital Gains** |
| &nbsp;&nbsp; $12091763 | $214001566 |

---

The United States federal income tax basis of the Fund's investments and the net unrealized appreciation (depreciation) as of September 30, 2025 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Tax Basis** | **Gross<br>Unrealized<br>Appreciation** | **Gross<br>Unrealized<br>Depreciation** | **Net<br>Unrealized<br>Appreciation** |
| $2799924822 | $730586362 | $(136358776) | $594227586 |

---

The difference between GAAP and tax basis was primarily due to deferred losses on wash sales, investments in passive foreign investments companies, investment in partnerships, and other cost basis difference between GAAP and tax reporting.

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

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

The Fund offers Class A, Class C, Class R, Class Z, Class R2, Class R4 and Class R6 shares. Class A shares are sold with a maximum front-end sales charge of 5.50%. Investors who purchase $1 million or more of Class A shares and sell these shares within 12 months of purchase are subject to a CDSC of 1%, although they are not subject to an initial sales charge. The Class A CDSC is waived for certain retirement and/or benefit plans. A special exchange privilege is also available for shareholders who qualified to purchase Class A shares at net asset value. Class C shares are sold with a CDSC of 1% on sales made within 12 months of purchase. Class C shares will automatically convert to Class A shares on a monthly basis approximately eight years after purchase. Class R, Class Z, Class R2, Class R4 and Class R6 shares are not subject to any sales or redemption charges and are available exclusively for sale to a limited group of investors.

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

------

There are 1,250,000,000 shares of common stock authorized, $0.01 par value per share, designated as shares of the Fund. The authorized shares of the Fund are further classified and designated as follows:

---

| | |
|:---|:---|
| **Class** | **Number of Shares** |
| &nbsp;&nbsp; A | 200000000 |
| &nbsp;&nbsp; B | 10000000 |
| &nbsp;&nbsp; C | 50000000 |
| &nbsp;&nbsp; R | 175000000 |
| &nbsp;&nbsp; Z | 365000000 |
| &nbsp;&nbsp; T | 75000000 |
| &nbsp;&nbsp; R2 | 75000000 |
| &nbsp;&nbsp; R4 | 75000000 |
| &nbsp;&nbsp; R6 | 225000000 |

---

The Fund currently does not have any Class B or Class T shares outstanding.

As of September 30, 2025, Prudential, through its affiliated entities, including affiliated funds (if applicable), owned shares of the Fund as follows:

---

| | | |
|:---|:---|:---|
| **Class** | **Number of Shares** | **Percentage of Outstanding Shares** |
| &nbsp;&nbsp; Z | 14364 | 0.1% |

---

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

---

| | | |
|:---|:---|:---|
|  | **Number of Shareholders** | **Percentage of Outstanding Shares** |
| &nbsp;&nbsp; Affiliated |  | —% |
| &nbsp;&nbsp; Unaffiliated | 3 | 59.6 |

---

Transactions in shares of common stock were as follows:

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
|  **Class A** |  |  |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 1214975 | $25005542 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 571586 | 12460580 |
| &nbsp;&nbsp; Shares purchased | (3477586) | (71033139) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (1691025) | (33567017) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 108071 | 2210120 |
|  Shares purchased upon conversion into other share class(es) | (153674) | (3151045) |
|  Net increase (decrease) in shares outstanding | (1736628) | $(34507942) |
|  **Year ended September 30, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 1452507 | $27085289 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 90120 | 1600536 |
| &nbsp;&nbsp; Shares purchased | (3901113) | (74036399) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (2358486) | (45350574) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 147276 | 2800628 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (193270) | (3698896) |
|  Net increase (decrease) in shares outstanding | (2404480) | $(46248842) |
|  **Class C** |  |  |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 47149 | $1319832 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 6076 | 177770 |
| &nbsp;&nbsp; Shares purchased | (55669) | (1523639) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (2444) | (26037) |
|  Shares purchased upon conversion into other share class(es) | (59378) | (1618304) |
|  Net increase (decrease) in shares outstanding | (61822) | $(1644341) |

---

PGIM Jennison Small Company Fund 25

------

Notes to Financial Statements (continued)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
|  **Year ended September 30, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 72693 | $1846212 |
| &nbsp;&nbsp; Shares purchased | (77576) | (1934337) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (4883) | (88125) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (84645) | (2131918) |
|  Net increase (decrease) in shares outstanding | (89528) | $(2220043) |
|  **Class R** |  |  |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 445844 | $8282956 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 165708 | 3363876 |
| &nbsp;&nbsp; Shares purchased | (1162244) | (22328477) |
|  Net increase (decrease) in shares outstanding | (550692) | $(10681645) |
|  **Year ended September 30, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 394770 | $7121128 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 20734 | 343571 |
| &nbsp;&nbsp; Shares purchased | (1271969) | (22889615) |
|  Net increase (decrease) in shares outstanding | (856465) | $(15424916) |
|  **Class Z** |  |  |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 8037273 | $201352642 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 451798 | 11746760 |
| &nbsp;&nbsp; Shares purchased | (7017867) | (170818688) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 1471204 | 42280714 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 547071 | 14589595 |
|  Shares purchased upon conversion into other share class(es) | (71215) | (1785917) |
|  Net increase (decrease) in shares outstanding | 1947060 | $55084392 |
|  **Year ended September 30, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 5324093 | $118853216 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 88375 | 1862066 |
| &nbsp;&nbsp; Shares purchased | (6428580) | (144072317) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (1016112) | (23357035) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 168935 | 3816523 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (64709) | (1482275) |
|  Net increase (decrease) in shares outstanding | (911886) | $(21022787) |
|  **Class R2** |  |  |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 216830 | $5132595 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 22213 | 544207 |
| &nbsp;&nbsp; Shares purchased | (618773) | (14105277) |
|  Net increase (decrease) in shares outstanding | (379730) | $(8428475) |
|  **Year ended September 30, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 403414 | $8171724 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 2532 | 50330 |
| &nbsp;&nbsp; Shares purchased | (200194) | (4253256) |
|  Net increase (decrease) in shares outstanding | 205752 | $3968798 |

---

------

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
|  **Class R4** |  |  |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 242156 | $5468855 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 2960 | 73742 |
| &nbsp;&nbsp; Shares purchased | (70491) | (1670973) |
|  Net increase (decrease) in shares outstanding | 174625 | $3871624 |
|  **Year ended September 30, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 176991 | $3702143 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 141 | 2847 |
| &nbsp;&nbsp; Shares purchased | (55721) | (1187281) |
|  Net increase (decrease) in shares outstanding | 121411 | $2517709 |
|  **Class R6** |  |  |
|  **Year ended September 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 15481355 | $361578187 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 2301050 | 58193547 |
| &nbsp;&nbsp; Shares purchased | (22067073) | (538560737) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (4284668) | (118789003) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 65649 | 1586337 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (446310) | (11830786) |
|  Net increase (decrease) in shares outstanding | (4665329) | $(129033452) |
|  **Year ended September 30, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 16222505 | $358055705 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 561965 | 11531517 |
| &nbsp;&nbsp; Shares purchased | (17564169) | (383722081) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (779699) | (14134859) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 32683 | 747161 |
|  Shares purchased upon conversion into other share class(es) | (2269) | (51223) |
|  Net increase (decrease) in shares outstanding | (749285) | $(13438921) |

---

On December 27, 2021, the Fund's Class C shares implemented a four-into-one reverse stock split the net effect of which was to decrease the number of the Fund's outstanding shares and increase the net asset value per share by a proportionate amount. While the number of the Fund's outstanding shares decreased, neither the Fund's holdings nor the total value of shareholders' investments in the Fund were affected. Immediately after the reverse stock split, each shareholder maintained the same percentage of the Fund's net assets prior to the reverse stock split. Per share data in the Financial Highlights for Class C shares have been retroactively adjusted to reflect the reverse stock split.

**8.** **Borrowings** 

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

---

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

---

Certain affiliated registered investment companies that are parties to the SCA include portfolios that are subject to a predetermined mathematical formula used to manage certain benefit guarantees offered under variable annuity contracts. The formula may result in large scale asset flows into and out of these portfolios. Consequently, these portfolios may be more likely to utilize the SCA for purposes

PGIM Jennison Small Company Fund 27

------

Notes to Financial Statements (continued)

of funding redemptions. It may be possible for those portfolios to fully exhaust the committed amount of the SCA, thereby requiring the Manager to allocate available funding per a Board-approved methodology designed to treat the Participating Funds in the SCA equitably.

The Fund did not utilize the SCA during the year ended September 30, 2025.

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

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

*Blend Style Risk:* The Fund's blend investment style may subject the Fund to risks of both value and growth investing. The portion of the Fund's portfolio that makes investments pursuant to a growth strategy may be subject to above-average fluctuations as a result of seeking higher than average capital growth. The portion of the Fund's portfolio that makes investments pursuant to a value strategy may be subject to the risk that the market may not recognize a security's intrinsic value for long periods of time or at all, or that a stock judged to be undervalued may actually be appropriately priced or overvalued. Issuers of value stocks may have experienced adverse business developments or may be subject to special risks that have caused the stock to be out of favor. If the Fund's assessment of market conditions or a company's value is inaccurate, the Fund could suffer losses or produce poor performance relative to other funds. Historically, growth stocks have performed best during later stages of economic expansion and value stocks have performed best during periods of economic recovery. Therefore, both styles may over time go in and out of favor with the markets. At times when a style is out of favor, that portion of the portfolio may lag the other portion of the portfolio, which may cause the Fund to underperform the market in general, its benchmark and other mutual funds. Growth and value stocks have historically produced similar long-term results, though each category has periods when it outperforms the other.

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

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

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

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

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

*Market Disruption and Geopolitical Risks:* Market disruption can be caused by economic, financial or political events and factors, including but not limited to, international wars or conflicts (including Russia's military invasion of Ukraine and the Israel-Hamas war),

------

geopolitical developments (including trading and tariff arrangements, sanctions and cybersecurity attacks), instability in regions such as Asia, Eastern Europe and the Middle East, terrorism, natural disasters and public health epidemics (including the outbreak of COVID-19 globally).

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

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

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

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

S*mall Company Risk:* Small company stocks present above-average risks in comparison to larger companies. Small companies usually offer a smaller range of products and services than larger companies. Smaller companies may also have limited financial resources and may lack management expertise. As a result, stocks issued by smaller companies may be comparatively less liquid and fluctuate in value more than the stocks of larger, more established companies. In addition, it is more difficult to get information on smaller companies, which tend to be less well known, have shorter operating histories, do not have significant ownership by large investors and are followed by relatively few securities analysts.

**10.** **Recent Accounting Pronouncement and Regulatory Developments** 

In December 2023, the FASB issued Accounting Standards Update (ASU), ASU 2023-09, Income Taxes (Topic 740) – "Improvements to Income Taxes Disclosures", which enhances the transparency of income tax disclosures. The ASU requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. The amendments under this ASU are required to be applied prospectively and are effective for fiscal years beginning after December 15, 2024. Management has evaluated the impact and does not expect the ASU to have a material impact on the financial statements.

**11.** **Subsequent Event** 

The Fund's management evaluated subsequent events through the date of issuance of the financial statements. There have been no subsequent events that occurred during such period that would require disclosure in, or would be required to be recognized in, the financial statements as of September 30, 2025.

PGIM Jennison Small Company Fund 29

------

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Prudential Jennison Small Company Fund, Inc. and Shareholders of PGIM Jennison Small Company Fund

*Opinion on the Financial Statements*

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of PGIM Jennison Small Company Fund (the "Fund") as of September 30, 2025, the related statement of operations for the year ended September 30, 2025, the statement of changes in net assets for each of the two years in the period ended September 30, 2025, including the related notes, and the financial highlights for each of the five years in the period ended September 30, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of September 30, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended September 30, 2025 and the financial highlights for each of the five years in the period ended September 30, 2025 in conformity with accounting principles generally accepted in the United States of America.

*Basis for Opinion*

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of September 30, 2025 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

New York, New York

November 20, 2025

We have served as the auditor of one or more investment companies in the PGIM Retail Funds complex since 2020.

------

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

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

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

**Form N-CSR Item 11** - Statement Regarding Basis for Approval of Investment Advisory Contract.

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Approval of Advisory Agreements

#### PGIM Jennison Small Company Fund

#### The Fund's Board of Directors
The Board of Directors (the "Board") of PGIM Jennison Small Company Fund (the "Fund")<sup>1</sup> consists of ten individuals, eight of whom are not "interested persons" of the Fund, as defined in the Investment Company Act of 1940, as amended (the "1940 Act") (the "Independent Directors"). The Board is responsible for the oversight of the Fund and its operations, and performs the various duties imposed on the directors of investment companies by the 1940 Act. The Independent Directors have retained independent legal counsel to assist them in connection with their duties. The Chair of the Board is an Independent Director. The Board has established five standing committees: the Audit Committee, the Nominating and Governance Committee, the Compliance Committee and two Investment Committees. Each committee is chaired by, and composed of, Independent Directors.

#### Annual Approval of the Fund's Advisory Agreements
As required under the 1940 Act, the Board determines annually whether to renew the Fund's management agreement with PGIM Investments LLC ("PGIM Investments") and the Fund's subadvisory agreement with Jennison Associates LLC ("Jennison"). In considering the renewal of the agreements, the Board, including all of the Independent Directors, met on June 2 and 11-12, 2025 (the "Board Meeting") and approved the renewal of the agreements through July 31, 2026, after concluding that the renewal of the agreements was in the best interests of the Fund and its shareholders.

In advance of the meetings, the Board requested and received materials relating to the agreements, and had the opportunity to ask questions and request further information in connection with its consideration. Among other things, the Board considered comparative fee information from PGIM Investments and Jennison. Also, the Board considered comparisons with other mutual funds in relevant peer universes and peer groups, as is further discussed below.

In approving the agreements, the Board, including the Independent Directors advised by independent legal counsel, considered the factors it deemed relevant, including the nature, quality and extent of services provided by PGIM Investments and the subadviser, the performance of the Fund, the profitability of PGIM Investments and its affiliates, expenses and fees, and the potential for economies of scale that may be shared with the Fund and its shareholders as the Fund's assets grow. In their deliberations, the Directors did not identify any single factor which alone was responsible for the Board's decision to approve an agreement with respect to the Fund. In connection with its deliberations, the Board considered information provided by PGIM Investments throughout the year at regular and special Board meetings, presentations from portfolio managers and other information, as well as information furnished at or in advance of the Board Meeting.

The Directors determined that the overall arrangements between the Fund and PGIM Investments, which serves as the Fund's investment manager pursuant to a management agreement, and between PGIM Investments and Jennison, which serves as the Fund's subadviser pursuant to the terms of a subadvisory agreement with PGIM Investments, are in the best interests of the Fund and its shareholders in light of the services performed, fees charged and such other matters as the Directors considered relevant in the exercise of their business judgment. The Board considered the approval of the agreements for the Fund as part of its consideration of agreements for multiple funds, but its approvals were made on a fund-by-fund basis.

The material factors and conclusions that formed the basis for the Directors' reaching their determinations to approve the continuance of the agreements are separately discussed below.

#### Nature, Quality and Extent of Services
The Board received and considered information regarding the nature, quality and extent of services provided to the Fund by PGIM Investments and Jennison. The Board noted that Jennison is affiliated with PGIM Investments. The Board considered the services provided by PGIM Investments, including but not limited to the oversight of the subadviser for the Fund, as well as the provision of accounting oversight, fund recordkeeping, compliance and other services to the Fund, such as PGIM Investments' role serving as administrator for the Fund's liquidity risk management program and as valuation designee. With respect to PGIM Investments' oversight of the subadviser, the Board noted that PGIM Investments' Strategic Investment Research Group ("SIRG"), which is a business unit of

<sup>1</sup> PGIM Jennison Small Company Fund is the sole series of Prudential Jennison Small Company Fund, Inc.

PGIM Jennison Small Company Fund

------

Approval of Advisory Agreements (continued)

PGIM Investments, is responsible for monitoring and reporting to PGIM Investments' senior management on the performance and operations of the subadviser. The Board also considered that PGIM Investments pays the salaries of all of the officers and interested Directors of the Fund who are part of Fund management. The Board also considered the investment subadvisory services provided by Jennison, including investment research and security selection, as well as adherence to the Fund's investment restrictions and compliance with applicable Fund policies and procedures. The Board considered PGIM Investments' evaluation of the subadviser, as well as PGIM Investments' recommendation, based on its review of the subadviser, to renew the subadvisory agreement.

The Board considered the qualifications, backgrounds and responsibilities of PGIM Investments' senior management responsible for the oversight of the Fund and Jennison, and also considered the qualifications, backgrounds and responsibilities of Jennison's portfolio managers who are responsible for the day-to-day management of the Fund's portfolio. The Board was provided with information pertaining to PGIM Investments' and Jennison's organizational structure, senior management, investment operations, and other relevant information pertaining to both PGIM Investments and Jennison. The Board also noted that it received favorable compliance reports from the Fund's Chief Compliance Officer ("CCO") as to both PGIM Investments and Jennison.

The Board concluded that it was satisfied with the nature, extent and quality of the investment management services provided by PGIM Investments and the subadvisory services provided to the Fund by Jennison, and that there was a reasonable basis on which to conclude that the Fund benefits from the services provided by PGIM Investments and Jennison under the management and subadvisory agreements.

#### Costs of Services and Profits Realized by PGIM Investments
The Board was provided with information on the profitability of PGIM Investments and its affiliates in serving as the Fund's investment manager. The Board discussed with PGIM Investments the methodology utilized in assembling the information regarding profitability and considered its reasonableness. The Board recognized that it is difficult to make comparisons of profitability from fund management contracts because comparative information is not generally publicly available and is affected by numerous factors, including the structure of the particular adviser, the types of funds it manages, its business mix, numerous assumptions regarding allocations and the adviser's capital structure and cost of capital. Taking these factors into account, the Board concluded that the profitability of PGIM Investments and its affiliates in relation to the services rendered was not unreasonable.

#### Economies of Scale
The Board received and discussed information concerning economies of scale that PGIM Investments may realize as the Fund's assets grow beyond current levels. The Board noted that the management fee schedule for the Fund includes breakpoints, which have the effect of decreasing the fee rate as assets increase. During the course of time, the Board has considered information regarding the launch date of the Fund, the management fees of the Fund compared to those of similarly managed funds and PGIM Investments' investment in the Fund over time. The Board noted that economies of scale can be shared with the Fund in other ways, including low management fees from inception, additional technological and personnel investments to enhance shareholder services, and maintaining existing expense structures in the face of a rising cost environment. The Board also considered PGIM Investments' assertion that it continually evaluates the management fee schedule of the Fund and the potential to share economies of scale through breakpoints or fee waivers as asset levels increase.

The Board recognized the inherent limitations of any analysis of economies of scale, stemming largely from the Board's understanding that most of PGIM Investments' costs are not specific to individual funds, but rather are incurred across a variety of products and services.

#### Other Benefits to PGIM Investments and Jennison
The Board considered potential ancillary benefits that might be received by PGIM Investments, Jennison and their affiliates as a result of their relationship with the Fund. The Board concluded that potential benefits to be derived by PGIM Investments included transfer agency fees received by the Fund's transfer agent (which is affiliated with PGIM Investments), and benefits to its reputation as well as other intangible benefits resulting from PGIM Investments' association with the Fund. The Board concluded that the potential benefits to be derived by Jennison included its ability to use soft dollar credits, as well as the potential benefits consistent with those generally resulting from an increase in assets under management, specifically, potential access to additional research resources and benefits to its reputation. The Board concluded that the benefits derived by PGIM Investments and Jennison were consistent with the types of benefits generally derived by investment managers and subadvisers to mutual funds.

Visit our website at pgim.com/investments

------

#### Performance of the Fund / Fees and Expenses
The Board considered certain additional factors and made related conclusions relating to the historical performance of the Fund for the one-, three-, five- and ten-year periods ended December 31, 2024.

The Board also considered the Fund's actual management fee, as well as the Fund's net total expense ratio, for the fiscal year ended September 30, 2024. The Board considered the management fee for the Fund as compared to the management fee charged by PGIM Investments to other funds and the fee charged by other advisers to comparable mutual funds in a peer group. The actual management fee represents the fee rate actually paid by Fund shareholders and includes any fee waivers or reimbursements. The net total expense ratio for the Fund represents the actual expense ratio incurred by Fund shareholders.

The mutual funds included in the peer universe, which was used to consider performance, and the peer group, which was used to consider expenses and fees, were objectively determined by Broadridge, an independent provider of mutual fund data. In certain circumstances, PGIM Investments also provided supplemental peer universe or peer group information for reasons addressed with the Board. The comparisons placed the Fund in various quartiles over various periods, with the first quartile being the best 25% of the mutual funds (for performance, the best performing mutual funds and, for expenses, the lowest cost mutual funds).

The section below summarizes key factors considered by the Board and the Board's conclusions regarding the Fund's performance, fees and overall expenses. The table sets forth net performance comparisons (which reflect the impact on performance of fund expenses, or any subsidies, expense caps or waivers that may be applicable) with the peer universe, actual management fees with the peer group (which reflect the impact of any subsidies or fee waivers), and net total expenses with the peer group, each of which were key factors considered by the Board.

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| |
|:---|
| &nbsp;&nbsp;&nbsp;*Net Performance* |
| &nbsp;&nbsp;&nbsp;*Net Performance* &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1<sup>st</sup> Quartile &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3<sup>rd</sup> Quartile |
| &nbsp;&nbsp;&nbsp; *Actual Management Fees:* 1<sup>st</sup> Quartile |
| &nbsp;&nbsp;&nbsp; *Net Total Expenses:* 1<sup>st</sup> Quartile |

---

<sup>•</sup> The Board noted that the Fund outperformed its benchmark index over the one-, five-, and ten-year periods, and underperformed its benchmark index over the three-year period.

---

| | |
|:---|:---|
| <sup>•</sup> | The Board and PGIM Investments agreed to retain the Fund's existing contractual expense cap, which (exclusive of certain fees and expenses) caps transfer agency, shareholder servicing, sub-transfer agency and blue sky fees to the extent that such fees cause total annual fund operating expenses to exceed 1.18% for Class R2 shares and 0.93% for Class R4 shares through January 31, 2026.  |

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| | |
|:---|:---|
| <sup>•</sup> | In addition, PGIM Investments will waive management fees or shared operating expenses on any share class to the same extent that it waives such expenses on any other share class and has agreed that total annual fund operating expenses for Class R6 shares will not exceed total annual fund operating expenses for Class Z shares.  |

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<sup>•</sup> The Board concluded that, in light of the above, it would be in the best interests of the Fund and its shareholders to renew the agreements.

---

| | |
|:---|:---|
| <sup>•</sup> | The Board concluded that the management fees (including subadvisory fees) and total expenses were reasonable in light of the services provided.  |

---

\* \* \*

After full consideration of these factors, the Board concluded that the approval of the agreements was in the best interests of the Fund and its shareholders.

PGIM Jennison Small Company Fund

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

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

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

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

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Item 16 – Controls and Procedures

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

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

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

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

Item 19 – Exhibits

(a)(1) [Code of Ethics – Attached hereto as Exhibit EX-99.CODE-ETH.](d939246dex99codeeth.htm)

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

(a)(3) [Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 – Attached hereto as Exhibit EX-99.CERT.](d939246dex99cert.htm)

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

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

(b) [Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 – Attached hereto as Exhibit EX-99.906CERT.](d939246dex99906cert.htm)

------

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

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| | |
|:---|:---|
|  Registrant: | <u>Prudential Jennison Small Company Fund, Inc.</u> |
|  By: | <u>/s/ Andrew R. French</u> |
|  | Andrew R. French |
|  | Secretary |
|  Date: | November 20, 2025 |

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

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| | |
|:---|:---|
|  By: | <u>/s/ Stuart S. Parker</u> |
|  | Stuart S. Parker |
|  | President and Principal Executive Officer |
|  Date: | November 20, 2025 |
|  By: | <u>/s/ Christian J. Kelly</u> |
|  | Christian J. Kelly |
|  | Chief Financial Officer (Principal Financial Officer) |
|  Date: | November 20, 2025 |

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## Ex-99.Code

**CODE OF ETHICS FOR PRINCIPAL EXECUTIVE AND** 

**PRINCIPAL FINANCIAL OFFICERS** 

**I. Covered Officers/Purpose of the Code** 

This code of ethics (the "Code") is established for the funds listed on Attachment A hereto (each a Fund" and together the "Funds") pursuant to Section 406 of the Sarbanes-Oxley Act and the rules adopted thereunder by the Securities and Exchange Commission ("SEC"). The Code applies to each Fund's Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer or Controller, or senior officers performing similar functions (the "Covered Officers" each of whom are set forth in Exhibit B) for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between
personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with,
or submits to, the SEC and in other public communications made by a Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• compliance with applicable governmental laws, rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the prompt internal reporting of violations of the Code to an appropriate person or persons identified in the
Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II. Conflicts of Interest** 

A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his service to, a Fund. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of his position with a Fund.

Certain conflicts of interest arise out of the relationships between Covered Officers and a Fund and already are subject to conflict of interest provisions in the Investment Company Act of 1940, as amended (the "1940 Act") and the Investment Advisers Act of 1940, as amended (the "Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with a Fund because of their status as "affiliated persons" of the Fund. A Fund's and its investment adviser's compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationships between a Fund and the Fund's investment adviser, principal underwriter, administrator, or other service providers to the Fund (together "Service Providers"), of which the Covered Officers may also be principals or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for a Fund or for a Service Provider, or for both), be involved in establishing policies and implementing decisions that will have different effects on such Service Providers and a Fund. The participation of the Covered Officers in such activities is inherent in the contractual relationships between a Fund and its Service Providers and is consistent with the performance by the Covered Officers of their duties as officers of the Fund. Thus, if performed in conformity with the provisions of the 1940 Act and the Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Funds' Board of Directors/Trustees ("Boards") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the 1940 Act and the Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of a Fund.

Each Covered Officer must:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• not use his personal influence or personal relationships improperly to influence investment decisions or
financial reporting by a Fund whereby the Covered Officer would benefit personally to the detriment of the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• not cause a Fund to take action, or fail to take action, for the individual personal benefit of the Covered
Officer rather than the benefit the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• not retaliate against any other Covered Officer or any employee of a Fund or its affiliated persons for reports
of potential violations that are made in good faith.

There are some actual or potential conflict of interest situations that should always be brought to the attention of, and discussed with, the Funds' Chief Legal Officer or other senior legal officer, if material. Examples of these include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• service as a director on the board of any public or private company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the receipt of any non-nominal gifts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the receipt of any entertainment from any company with which a Fund has current or prospective business dealings
unless such entertainment is business-related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any ownership interest in (other than insubstantial interests in publicly traded entities), or any consulting or
employment relationship with, any of a Fund's Service Providers, other than its investment adviser, principal underwriter, administrator or any affiliated person thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a direct or indirect financial interest in commissions, transaction charges or spreads paid by a Fund for
effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership.

**III. Disclosure and Compliance** 

Each Covered Officer:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• should familiarize himself with the disclosure requirements generally applicable to the Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• should not knowingly misrepresent, or cause others to misrepresent, facts about a Fund to others, whether within
or outside the Fund, including to the Fund's Board of Directors/Trustees and its auditors, and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• should, to the extent appropriate within his area of responsibility, consult with other officers and employees of
a Fund and its Service Providers with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fund files with, or submits to, the SEC and in other public communications made by the Fund; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• is responsible to promote compliance with the standards and restrictions imposed by applicable laws, rules and
regulations.

**IV. Reporting and Accountability** 

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• upon adoption of the Code (or thereafter as applicable, upon becoming a Covered Officer), affirm in writing to
the Board of Directors/Trustees that he has received, read, and understands the Code;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• annually thereafter affirm to the Board of Directors/Trustees that he has complied with the requirements of the
Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• notify the Funds' Chief Legal Officer promptly if he knows of any violation of this Code. Failure to do so
is itself a violation of this Code.

The Funds' Chief Legal Officer is responsible for applying this Code to specific situations in which questions are presented under it and has the authority to interpret this Code in any particular situation. In such situations, the Chief Legal Officer is authorized to consult, as appropriate, with counsel to the Funds, counsel to the Independent Directors/Trustees, a Board Committee comprised of Independent Directors/Trustees, or the full Board.

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The Funds will follow the following procedures in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Funds Chief Legal Officer will take all appropriate action to investigate any potential violations reported
to her;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if, after such investigation, the Chief Legal Officer believes that no violation has occurred, the Chief Legal
Officer is not required to take any further action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any matter that the Chief Legal Officer believes is a violation or that the Chief Legal Officer believes should
be reviewed by a Fund's Board or Board Committee comprised of Independent Directors/Trustees will be reported to the Fund's Board or Board Committee comprised of Independent Directors/Trustees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• based upon its review of any matter referred to it, a Fund's Board or Board Committee comprised of
Independent Directors/Trustees shall determine whether or not a violation has occurred, whether a grant of waiver is appropriate or whether some other action should be taken. Based upon its determination, the Fund's Board or Board Committee
comprised of Independent Directors/Trustees may take such action as it deems appropriate, which may include without limitation: modifications of applicable policies and procedures; notification to appropriate personnel of the Fund's investment
adviser, principal underwriter or administrator, or their boards; notification to other Funds for which the Covered Officer serves as a Covered Officer; or recommendation to dismiss the Covered Officer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any changes to or waivers of this Code will, to the extent required, be disclosed as provided by SEC rules.

**V. Other Policies and Procedures** 

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of a Fund or its Service Providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The Funds' and their investment adviser's and principal underwriter's code of ethics under Rule 17j-1 under the 1940 Act are separate requirements applying to the Covered Officers and others, and are not part of this Code.

**VI. Amendments** 

Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the Board, including a majority of Independent Directors/Trustees.

**VII. Confidentiality** 

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Fund Board of Directors/Trustees, counsel to the Fund, and counsel to the Fund Independent Directors/Trustees.

**VIII. Internal Use** 

The Code is intended solely for the internal use by the Funds and does not constitute an admission, by or on behalf of a Fund, as to any fact, circumstance, or legal conclusion.

**IX. Recordkeeping** 

A Fund shall keep the information disclosed about waivers and amendments under the Code for the period of time as specified in the rules adopted pursuant to Section 406 of the Sarbanes-Oxley Act, and furnish such information to the SEC or its staff upon request.

Adopted and approved as of September 3, 2003.

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**EXHIBIT A** 

**<u>Funds Covered by this Code of Ethics</u>**

• The Prudential Investment Portfolios, Inc.

• Prudential Investment Portfolios 2

• Prudential Investment Portfolios 3

• Prudential Investment Portfolios 4

• Prudential Investment Portfolios 5

• Prudential Investment Portfolios 6

• Prudential Investment Portfolios 7

• Prudential Investment Portfolios 8

• Prudential Investment Portfolios 9

• Prudential Investment Portfolios, Inc. 10

• Prudential Investment Portfolios 12

• Prudential Government Money Market Fund, Inc.

• Prudential Investment Portfolios, Inc. 14

• Prudential Investment Portfolios, Inc. 15

• Prudential Investment Portfolios 16

• Prudential Investment Portfolios, Inc. 17

• Prudential Investment Portfolios 18

• Prudential Global Total Return Fund, Inc.

• Prudential Jennison Blend Fund, Inc.

• Prudential Jennison Mid-Cap Growth Fund, Inc.

• Prudential Jennison Natural Resources Fund, Inc.

• Prudential Jennison Small Company Fund, Inc.

• Prudential National Muni Fund, Inc.

• Prudential Sector Funds, Inc.

• Prudential Short-Term Corporate Bond Fund, Inc.

• Prudential World Fund, Inc.

• The Target Portfolio Trust

• PGIM ETF Trust

• PGIM High Yield Bond Fund, Inc.

• PGIM Global High Yield Fund, Inc.

• PGIM Short Duration High Yield Opportunities Fund

• Advanced Series Trust

• Prudential's Gibraltar Fund, Inc.

• The Prudential Series Fund

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**EXHIBIT B** 

**Persons Covered by this Code of Ethics** 

**Stuart S. Parker** – President and Principal Executive Officer of the PGIM Funds, PGIM ETF Trust, PGIM High Yield Bond Fund, Inc., PGIM Global High Yield Fund, Inc., and PGIM Short Duration High Yield Opportunities Fund.

**Kenneth Allen** – President and Principal Executive Officer of Advanced Series Trust, Prudential's Gibraltar Fund, Inc. and The Prudential Series Fund.

**Christian J. Kelly** – Chief Financial Officer and Principal Financial Officer for the PGIM Funds, PGIM ETF Trust, PGIM High Yield Bond Fund, Inc., PGIM Global High Yield Fund, Inc., PGIM Short Duration High Yield Opportunities Fund, Advanced Series Trust, Prudential's Gibraltar Fund, Inc., and The Prudential Series Fund.

**Russ Shupak**- Treasurer and Principal Accounting Officer for the PGIM Funds, PGIM ETF Trust, PGIM High Yield Bond Fund, Inc., PGIM Global High Yield Fund, Inc., and PGIM Short Duration High Yield Opportunities Fund.

**Elyse McLaughlin**- Treasurer and Principal Accounting Officer for the Advanced Series Trust, Prudential's Gibraltar Fund, Inc., and The Prudential Series Fund.

## Ex-99.Cert

Item 19

**Prudential Jennison Small Company Fund, Inc.** 

Annual period ending 9/30/25

File No. 811-03084

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

I, Stuart S. Parker, certify that:

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

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

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

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

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

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

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

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

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

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

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

November 20, 2025

---

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

---

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Item 19

**Prudential Jennison Small Company Fund, Inc.** 

Annual period ending 9/30/25

File No. 811-03084

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

I, Christian J. Kelly, certify that:

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

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

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

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

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

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

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

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

------

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

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

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

November 20, 2025

---

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

---

## Exhibit 99.906

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

As Adopted Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

Name of Issuer: <u>Prudential Jennison Small Company Fund, Inc.</u>

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

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

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

---

| | |
|:---|:---|
|  November 20, 2025 |  |
|  | <u>/s/ Stuart S. Parker</u> |
|  | Stuart S. Parker |
|  | President and Principal Executive Officer |

---

---

| | |
|:---|:---|
|  November 20, 2025 |  |
|  | <u>/s/ Christian J. Kelly</u> |
|  | Christian J. Kelly |
|  | Chief Financial Officer (Principal Financial Officer) |

---

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