# EDGAR Filing Document

**Accession Number:** 0000741350
**File Stem:** 0001193125-25-153789
**Filing Date:** 2025-7
**Character Count:** 912348
**Document Hash:** 7d9c91e985e1f23cc549a5dfb1669d3a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-153789.hdr.sgml**: 20250701

**ACCESSION NUMBER**: 0001193125-25-153789

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 117

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250701

**DATE AS OF CHANGE**: 20250701

**EFFECTIVENESS DATE**: 20250701

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRUDENTIAL WORLD FUND, INC.
- **CENTRAL INDEX KEY:** 0000741350

**ORGANIZATION NAME:**
- **EIN:** 133204887
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03981
- **FILM NUMBER:** 251094927

**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:** PRUDENTIAL WORLD FUND INC
- **DATE OF NAME CHANGE:** 19960807

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRUDENTIAL GLOBAL FUND INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRUDENTIAL BACHE GLOBAL FUND INC
- **DATE OF NAME CHANGE:** 19911230

## Series and Classes Contracts Data

### PGIM QUANT SOLUTIONS INTERNATIONAL EQUITY FUND (Series ID: S000004671)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000012720 | Class A      | PJRAX           |
| C000012722 | Class C      | PJRCX           |
| C000012723 | Class Z      | PJIZX           |
| C000176458 | Class R6     | PJRQX           |

### PGIM Emerging Markets Debt Local Currency Fund (Series ID: S000031677)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000098570 | Class A      | EMDAX           |
| C000098580 | Class C      | EMDCX           |
| C000098581 | Class R6     | EMDQX           |
| C000098582 | Class Z      | EMDZX           |

### PGIM Jennison Global Opportunities Fund (Series ID: S000036439)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000111501 | Class A      | PRJAX           |
| C000111502 | Class C      | PRJCX           |
| C000111503 | Class Z      | PRJZX           |
| C000150229 | Class R6     | PRJQX           |
| C000206962 | Class R4     | PRJDX           |
| C000206963 | Class R2     | PRJBX           |

### PGIM Jennison International Opportunities Fund (Series ID: S000037257)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000114766 | Class A      | PWJAX           |
| C000114767 | Class C      | PWJCX           |
| C000114768 | Class Z      | PWJZX           |
| C000164382 | Class R6     | PWJQX           |
| C000193924 | Class R      | PWJRX           |
| C000206964 | Class R4     | PWJDX           |
| C000206965 | Class R2     | PWJBX           |

### PGIM Jennison Global Infrastructure Fund (Series ID: S000042106)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000130741 | Class A      | PGJAX           |
| C000130742 | Class C      | PGJCX           |
| C000130743 | Class Z      | PGJZX           |
| C000176459 | Class R6     | PGJQX           |

### PGIM JENNISON EMERGING MARKETS EQUITY OPPORTUNITIES FUND (Series ID: S000046704)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000145760 | Class A      | PDEAX           |
| C000145761 | Class C      | PDECX           |
| C000145762 | Class R6     | PDEQX           |
| C000145763 | Class Z      | PDEZX           |

### PGIM Emerging Markets Debt Hard Currency Fund (Series ID: S000059803)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000195653 | Class A      | PDHAX           |
| C000195654 | Class C      | PDHCX           |
| C000195655 | Class R6     | PDHQX           |
| C000195656 | Class Z      | PDHVX           |

?xml version='1.0' encoding='ASCII'? Prudential World 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: | 811-03981 |
| Exact name of registrant as specified in charter: | Prudential World 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: | 10/31/2025 |
| Date of reporting period: | 4/30/2025 |

---

------

Item 1 – Reports to Stockholders

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

------

![](g932053g1tsrbanner.jpg)

PGIM Jennison Emerging Markets Equity Opportunities Fund

Class A:

PDEAX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class A shares of PGIM Jennison Emerging Markets Equity

Opportunities Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison Emerging Markets Equity <br>Opportunities Fund—Class A<br>| $63 | 1.30% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $614002216<br>|
| Number of fund holdings | 40 |
| Portfolio turnover rate for the period | 67% |

---

MF225E2A

![](g932053g1pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 13.4% |
| Interactive Media & Services | 12.5% |
| Affiliated Mutual Fund - Short-Term Investment <br>(11.1% represents investments purchased with <br>collateral from securities on loan)<br>| 11.9% |
| Semiconductors & Semiconductor Equipment | 9.9% |
| Hotels, Restaurants & Leisure | 8.7% |
| Automobiles | 7.8% |
| Capital Markets | 7.7% |
| Aerospace & Defense | 5.7% |
| Broadline Retail | 5.5% |
| Textiles, Apparel & Luxury Goods | 5.0% |
| Technology Hardware, Storage & Peripherals | 4.9% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Real Estate Management & Development | 4.0% |
| Biotechnology | 3.7% |
| Wireless Telecommunication Services | 2.5% |
| Entertainment | 2.2% |
| Health Care Equipment & Supplies | 2.0% |
| Metals & Mining | 1.8% |
| Electrical Equipment | 1.2% |
| Machinery | 0.8% |
|  | 111.2% |
| Liabilities in excess of other assets | (11.2)% |
|  | 100.0% |

---

&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.

![](g932053g1qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Emerging Markets Equity Opportunities Fund

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

SHARE CLASS A <br> NASDAQ PDEAX <br> CUSIP 743969644

MF225E2A

![](g932053g1pgim_investments.jpg)

------

![](g932053g2tsrbanner.jpg)

PGIM Jennison Emerging Markets Equity Opportunities Fund

Class C:

PDECX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class C shares of PGIM Jennison Emerging Markets Equity

Opportunities Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison Emerging Markets Equity <br>Opportunities Fund—Class C<br>| $99 | 2.05% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $614002216<br>|
| Number of fund holdings | 40 |
| Portfolio turnover rate for the period | 67% |

---

MF225E2C

![](g932053g2pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 13.4% |
| Interactive Media & Services | 12.5% |
| Affiliated Mutual Fund - Short-Term Investment <br>(11.1% represents investments purchased with <br>collateral from securities on loan)<br>| 11.9% |
| Semiconductors & Semiconductor Equipment | 9.9% |
| Hotels, Restaurants & Leisure | 8.7% |
| Automobiles | 7.8% |
| Capital Markets | 7.7% |
| Aerospace & Defense | 5.7% |
| Broadline Retail | 5.5% |
| Textiles, Apparel & Luxury Goods | 5.0% |
| Technology Hardware, Storage & Peripherals | 4.9% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Real Estate Management & Development | 4.0% |
| Biotechnology | 3.7% |
| Wireless Telecommunication Services | 2.5% |
| Entertainment | 2.2% |
| Health Care Equipment & Supplies | 2.0% |
| Metals & Mining | 1.8% |
| Electrical Equipment | 1.2% |
| Machinery | 0.8% |
|  | 111.2% |
| Liabilities in excess of other assets | (11.2)% |
|  | 100.0% |

---

&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.

![](g932053g2qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Emerging Markets Equity Opportunities Fund

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

SHARE CLASS C <br> NASDAQ PDECX <br> CUSIP 743969636

MF225E2C

![](g932053g2pgim_investments.jpg)

------

![](g932053g3tsrbanner.jpg)

PGIM Jennison Emerging Markets Equity Opportunities Fund

Class Z:

PDEZX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class Z shares of PGIM Jennison Emerging Markets Equity

Opportunities Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison Emerging Markets Equity <br>Opportunities Fund—Class Z<br>| $51 | 1.05% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $614002216<br>|
| Number of fund holdings | 40 |
| Portfolio turnover rate for the period | 67% |

---

MF225E2Z

![](g932053g3pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 13.4% |
| Interactive Media & Services | 12.5% |
| Affiliated Mutual Fund - Short-Term Investment <br>(11.1% represents investments purchased with <br>collateral from securities on loan)<br>| 11.9% |
| Semiconductors & Semiconductor Equipment | 9.9% |
| Hotels, Restaurants & Leisure | 8.7% |
| Automobiles | 7.8% |
| Capital Markets | 7.7% |
| Aerospace & Defense | 5.7% |
| Broadline Retail | 5.5% |
| Textiles, Apparel & Luxury Goods | 5.0% |
| Technology Hardware, Storage & Peripherals | 4.9% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Real Estate Management & Development | 4.0% |
| Biotechnology | 3.7% |
| Wireless Telecommunication Services | 2.5% |
| Entertainment | 2.2% |
| Health Care Equipment & Supplies | 2.0% |
| Metals & Mining | 1.8% |
| Electrical Equipment | 1.2% |
| Machinery | 0.8% |
|  | 111.2% |
| Liabilities in excess of other assets | (11.2)% |
|  | 100.0% |

---

&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.

![](g932053g3qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Emerging Markets Equity Opportunities Fund

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

SHARE CLASS Z <br> NASDAQ PDEZX <br> CUSIP 743969610

MF225E2Z

![](g932053g3pgim_investments.jpg)

------

![](g932053g4tsrbanner.jpg)

PGIM Jennison Emerging Markets Equity Opportunities Fund

Class R6:

PDEQX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R6 shares of PGIM Jennison Emerging Markets Equity

Opportunities Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison Emerging Markets Equity <br>Opportunities Fund—Class R6<br>| $48 | 0.98% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $614002216<br>|
| Number of fund holdings | 40 |
| Portfolio turnover rate for the period | 67% |

---

MF225E2R6

![](g932053g4pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Banks | 13.4% |
| Interactive Media & Services | 12.5% |
| Affiliated Mutual Fund - Short-Term Investment <br>(11.1% represents investments purchased with <br>collateral from securities on loan)<br>| 11.9% |
| Semiconductors & Semiconductor Equipment | 9.9% |
| Hotels, Restaurants & Leisure | 8.7% |
| Automobiles | 7.8% |
| Capital Markets | 7.7% |
| Aerospace & Defense | 5.7% |
| Broadline Retail | 5.5% |
| Textiles, Apparel & Luxury Goods | 5.0% |
| Technology Hardware, Storage & Peripherals | 4.9% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Real Estate Management & Development | 4.0% |
| Biotechnology | 3.7% |
| Wireless Telecommunication Services | 2.5% |
| Entertainment | 2.2% |
| Health Care Equipment & Supplies | 2.0% |
| Metals & Mining | 1.8% |
| Electrical Equipment | 1.2% |
| Machinery | 0.8% |
|  | 111.2% |
| Liabilities in excess of other assets | (11.2)% |
|  | 100.0% |

---

&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.

![](g932053g4qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Emerging Markets Equity Opportunities Fund

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

SHARE CLASS R6 <br> NASDAQ PDEQX <br> CUSIP 743969628

MF225E2R6

![](g932053g4pgim_investments.jpg)

------

![](g932053g5tsrbanner.jpg)

PGIM Jennison Global Infrastructure Fund

Class A:

PGJAX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class A shares of PGIM Jennison Global Infrastructure Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| PGIM Jennison Global Infrastructure Fund—Class A | $77 | 1.50% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $44444113<br>|
| Number of fund holdings | 52 |
| Portfolio turnover rate for the period | 49% |

---

MF217E2A

![](g932053g5pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 28.5% |
| Multi-Utilities | 19.1% |
| Transportation Infrastructure | 12.8% |
| Oil, Gas & Consumable Fuels | 10.3% |
| Construction & Engineering | 8.2% |
| Ground Transportation | 6.7% |
| Specialized REITs | 5.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(2.1% represents investments purchased with <br>collateral from securities on loan)<br>| 3.5% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Water Utilities | 3.0% |
| Gas Utilities | 2.1% |
| Commercial Services & Supplies | 2.0% |
| Independent Power & Renewable Electricity <br>Producers<br>| 1.1% |
|  | 102.3% |
| Liabilities in excess of other assets | (2.3)% |
|  | 100.0% |

---

&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.

![](g932053g5qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Infrastructure Fund

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

SHARE CLASS A <br> NASDAQ PGJAX <br> CUSIP 743969792

MF217E2A

![](g932053g5pgim_investments.jpg)

------

![](g932053g6tsrbanner.jpg)

PGIM Jennison Global Infrastructure Fund

Class C:

PGJCX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class C shares of PGIM Jennison Global Infrastructure Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| PGIM Jennison Global Infrastructure Fund—Class C | $115 | 2.25% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $44444113<br>|
| Number of fund holdings | 52 |
| Portfolio turnover rate for the period | 49% |

---

MF217E2C

![](g932053g6pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 28.5% |
| Multi-Utilities | 19.1% |
| Transportation Infrastructure | 12.8% |
| Oil, Gas & Consumable Fuels | 10.3% |
| Construction & Engineering | 8.2% |
| Ground Transportation | 6.7% |
| Specialized REITs | 5.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(2.1% represents investments purchased with <br>collateral from securities on loan)<br>| 3.5% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Water Utilities | 3.0% |
| Gas Utilities | 2.1% |
| Commercial Services & Supplies | 2.0% |
| Independent Power & Renewable Electricity <br>Producers<br>| 1.1% |
|  | 102.3% |
| Liabilities in excess of other assets | (2.3)% |
|  | 100.0% |

---

&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.

![](g932053g6qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Infrastructure Fund

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

SHARE CLASS C <br> NASDAQ PGJCX <br> CUSIP 743969784

MF217E2C

![](g932053g6pgim_investments.jpg)

------

![](g932053g7tsrbanner.jpg)

PGIM Jennison Global Infrastructure Fund

Class Z:

PGJZX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class Z shares of PGIM Jennison Global Infrastructure Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| PGIM Jennison Global Infrastructure Fund—Class Z | $60 | 1.17% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $44444113<br>|
| Number of fund holdings | 52 |
| Portfolio turnover rate for the period | 49% |

---

MF217E2Z

![](g932053g7pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 28.5% |
| Multi-Utilities | 19.1% |
| Transportation Infrastructure | 12.8% |
| Oil, Gas & Consumable Fuels | 10.3% |
| Construction & Engineering | 8.2% |
| Ground Transportation | 6.7% |
| Specialized REITs | 5.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(2.1% represents investments purchased with <br>collateral from securities on loan)<br>| 3.5% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Water Utilities | 3.0% |
| Gas Utilities | 2.1% |
| Commercial Services & Supplies | 2.0% |
| Independent Power & Renewable Electricity <br>Producers<br>| 1.1% |
|  | 102.3% |
| Liabilities in excess of other assets | (2.3)% |
|  | 100.0% |

---

&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.

![](g932053g7qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Infrastructure Fund

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

SHARE CLASS Z <br> NASDAQ PGJZX <br> CUSIP 743969776

MF217E2Z

![](g932053g7pgim_investments.jpg)

------

![](g932053g8tsrbanner.jpg)

PGIM Jennison Global Infrastructure Fund

Class R6:

PGJQX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R6 shares of PGIM Jennison Global Infrastructure Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison Global Infrastructure Fund—Class <br>R6<br>| $60 | 1.17% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $44444113<br>|
| Number of fund holdings | 52 |
| Portfolio turnover rate for the period | 49% |

---

MF217E2R6

![](g932053g8pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Electric Utilities | 28.5% |
| Multi-Utilities | 19.1% |
| Transportation Infrastructure | 12.8% |
| Oil, Gas & Consumable Fuels | 10.3% |
| Construction & Engineering | 8.2% |
| Ground Transportation | 6.7% |
| Specialized REITs | 5.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(2.1% represents investments purchased with <br>collateral from securities on loan)<br>| 3.5% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Water Utilities | 3.0% |
| Gas Utilities | 2.1% |
| Commercial Services & Supplies | 2.0% |
| Independent Power & Renewable Electricity <br>Producers<br>| 1.1% |
|  | 102.3% |
| Liabilities in excess of other assets | (2.3)% |
|  | 100.0% |

---

&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.

![](g932053g8qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Infrastructure Fund

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

SHARE CLASS R6 <br> NASDAQ PGJQX <br> CUSIP 743969560

MF217E2R6

![](g932053g8pgim_investments.jpg)

------

![](g932053g9tsrbanner.jpg)

PGIM Jennison Global Opportunities Fund

Class A:

PRJAX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class A shares of PGIM Jennison Global Opportunities Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| PGIM Jennison Global Opportunities Fund—Class A | $52 | 1.08% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $6073928485<br>|
| Number of fund holdings | 41 |
| Portfolio turnover rate for the period | 75% |

---

MF214E2A

![](g932053g9pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 16.7% |
| Entertainment | 12.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.3% represents investments purchased with <br>collateral from securities on loan)<br>| 9.0% |
| Textiles, Apparel & Luxury Goods | 8.7% |
| Technology Hardware, Storage & Peripherals | 8.1% |
| Pharmaceuticals | 7.1% |
| Automobiles | 6.7% |
| Broadline Retail | 6.4% |
| Specialty Retail | 5.5% |
| Interactive Media & Services | 4.9% |
| Consumer Staples Distribution & Retail | 3.0% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Personal Care Products | 3.0% |
| Biotechnology | 2.7% |
| IT Services | 2.4% |
| Semiconductors & Semiconductor Equipment | 2.4% |
| Hotels, Restaurants & Leisure | 2.2% |
| Health Care Equipment & Supplies | 1.5% |
| Banks | 1.2% |
| Construction & Engineering | 0.9% |
|  | 104.4% |
| Liabilities in excess of other assets | (4.4)% |
|  | 100.0% |

---

&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.

![](g932053g9qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Opportunities Fund

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

SHARE CLASS A <br> NASDAQ PRJAX <br> CUSIP 743969719

MF214E2A

![](g932053g9pgim_investments.jpg)

------

![](g932053g10tsrbanner.jpg)

PGIM Jennison Global Opportunities Fund

Class C:

PRJCX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class C shares of PGIM Jennison Global Opportunities Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| PGIM Jennison Global Opportunities Fund—Class C | $92 | 1.92% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $6073928485<br>|
| Number of fund holdings | 41 |
| Portfolio turnover rate for the period | 75% |

---

MF214E2C

![](g932053g10pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 16.7% |
| Entertainment | 12.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.3% represents investments purchased with <br>collateral from securities on loan)<br>| 9.0% |
| Textiles, Apparel & Luxury Goods | 8.7% |
| Technology Hardware, Storage & Peripherals | 8.1% |
| Pharmaceuticals | 7.1% |
| Automobiles | 6.7% |
| Broadline Retail | 6.4% |
| Specialty Retail | 5.5% |
| Interactive Media & Services | 4.9% |
| Consumer Staples Distribution & Retail | 3.0% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Personal Care Products | 3.0% |
| Biotechnology | 2.7% |
| IT Services | 2.4% |
| Semiconductors & Semiconductor Equipment | 2.4% |
| Hotels, Restaurants & Leisure | 2.2% |
| Health Care Equipment & Supplies | 1.5% |
| Banks | 1.2% |
| Construction & Engineering | 0.9% |
|  | 104.4% |
| Liabilities in excess of other assets | (4.4)% |
|  | 100.0% |

---

&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.

![](g932053g10qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Opportunities Fund

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

SHARE CLASS C <br> NASDAQ PRJCX <br> CUSIP 743969693

MF214E2C

![](g932053g10pgim_investments.jpg)

------

![](g932053g11tsrbanner.jpg)

PGIM Jennison Global Opportunities Fund

Class Z:

PRJZX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class Z shares of PGIM Jennison Global Opportunities Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| PGIM Jennison Global Opportunities Fund—Class Z | $45 | 0.93% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $6073928485<br>|
| Number of fund holdings | 41 |
| Portfolio turnover rate for the period | 75% |

---

MF214E2Z

![](g932053g11pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 16.7% |
| Entertainment | 12.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.3% represents investments purchased with <br>collateral from securities on loan)<br>| 9.0% |
| Textiles, Apparel & Luxury Goods | 8.7% |
| Technology Hardware, Storage & Peripherals | 8.1% |
| Pharmaceuticals | 7.1% |
| Automobiles | 6.7% |
| Broadline Retail | 6.4% |
| Specialty Retail | 5.5% |
| Interactive Media & Services | 4.9% |
| Consumer Staples Distribution & Retail | 3.0% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Personal Care Products | 3.0% |
| Biotechnology | 2.7% |
| IT Services | 2.4% |
| Semiconductors & Semiconductor Equipment | 2.4% |
| Hotels, Restaurants & Leisure | 2.2% |
| Health Care Equipment & Supplies | 1.5% |
| Banks | 1.2% |
| Construction & Engineering | 0.9% |
|  | 104.4% |
| Liabilities in excess of other assets | (4.4)% |
|  | 100.0% |

---

&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.

![](g932053g11qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Opportunities Fund

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

SHARE CLASS Z <br> NASDAQ PRJZX <br> CUSIP 743969685

MF214E2Z

![](g932053g11pgim_investments.jpg)

------

![](g932053g12tsrbanner.jpg)

PGIM Jennison Global Opportunities Fund

Class R2:

PRJBX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R2 shares of PGIM Jennison Global Opportunities Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison Global Opportunities Fund—Class <br>R2<br>| $65 | 1.34% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $6073928485<br>|
| Number of fund holdings | 41 |
| Portfolio turnover rate for the period | 75% |

---

MF214E2R2

![](g932053g12pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 16.7% |
| Entertainment | 12.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.3% represents investments purchased with <br>collateral from securities on loan)<br>| 9.0% |
| Textiles, Apparel & Luxury Goods | 8.7% |
| Technology Hardware, Storage & Peripherals | 8.1% |
| Pharmaceuticals | 7.1% |
| Automobiles | 6.7% |
| Broadline Retail | 6.4% |
| Specialty Retail | 5.5% |
| Interactive Media & Services | 4.9% |
| Consumer Staples Distribution & Retail | 3.0% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Personal Care Products | 3.0% |
| Biotechnology | 2.7% |
| IT Services | 2.4% |
| Semiconductors & Semiconductor Equipment | 2.4% |
| Hotels, Restaurants & Leisure | 2.2% |
| Health Care Equipment & Supplies | 1.5% |
| Banks | 1.2% |
| Construction & Engineering | 0.9% |
|  | 104.4% |
| Liabilities in excess of other assets | (4.4)% |
|  | 100.0% |

---

&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.

![](g932053g12qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Opportunities Fund

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

SHARE CLASS R2 <br> NASDAQ PRJBX <br> CUSIP 743969438

MF214E2R2

![](g932053g12pgim_investments.jpg)

------

![](g932053g13tsrbanner.jpg)

PGIM Jennison Global Opportunities Fund

Class R4:

PRJDX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R4 shares of PGIM Jennison Global Opportunities Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison Global Opportunities Fund—Class <br>R4<br>| $53 | 1.09% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $6073928485<br>|
| Number of fund holdings | 41 |
| Portfolio turnover rate for the period | 75% |

---

MF214E2R4

![](g932053g13pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 16.7% |
| Entertainment | 12.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.3% represents investments purchased with <br>collateral from securities on loan)<br>| 9.0% |
| Textiles, Apparel & Luxury Goods | 8.7% |
| Technology Hardware, Storage & Peripherals | 8.1% |
| Pharmaceuticals | 7.1% |
| Automobiles | 6.7% |
| Broadline Retail | 6.4% |
| Specialty Retail | 5.5% |
| Interactive Media & Services | 4.9% |
| Consumer Staples Distribution & Retail | 3.0% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Personal Care Products | 3.0% |
| Biotechnology | 2.7% |
| IT Services | 2.4% |
| Semiconductors & Semiconductor Equipment | 2.4% |
| Hotels, Restaurants & Leisure | 2.2% |
| Health Care Equipment & Supplies | 1.5% |
| Banks | 1.2% |
| Construction & Engineering | 0.9% |
|  | 104.4% |
| Liabilities in excess of other assets | (4.4)% |
|  | 100.0% |

---

&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.

![](g932053g13qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Opportunities Fund

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

SHARE CLASS R4 <br> NASDAQ PRJDX <br> CUSIP 743969420

MF214E2R4

![](g932053g13pgim_investments.jpg)

------

![](g932053g14tsrbanner.jpg)

PGIM Jennison Global Opportunities Fund

Class R6:

PRJQX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R6 shares of PGIM Jennison Global Opportunities Fund (the

"Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison Global Opportunities Fund—Class <br>R6<br>| $40 | 0.82% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $6073928485<br>|
| Number of fund holdings | 41 |
| Portfolio turnover rate for the period | 75% |

---

MF214E2R6

![](g932053g14pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 16.7% |
| Entertainment | 12.0% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.3% represents investments purchased with <br>collateral from securities on loan)<br>| 9.0% |
| Textiles, Apparel & Luxury Goods | 8.7% |
| Technology Hardware, Storage & Peripherals | 8.1% |
| Pharmaceuticals | 7.1% |
| Automobiles | 6.7% |
| Broadline Retail | 6.4% |
| Specialty Retail | 5.5% |
| Interactive Media & Services | 4.9% |
| Consumer Staples Distribution & Retail | 3.0% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Personal Care Products | 3.0% |
| Biotechnology | 2.7% |
| IT Services | 2.4% |
| Semiconductors & Semiconductor Equipment | 2.4% |
| Hotels, Restaurants & Leisure | 2.2% |
| Health Care Equipment & Supplies | 1.5% |
| Banks | 1.2% |
| Construction & Engineering | 0.9% |
|  | 104.4% |
| Liabilities in excess of other assets | (4.4)% |
|  | 100.0% |

---

&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.

![](g932053g14qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison Global Opportunities Fund

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

SHARE CLASS R6 <br> NASDAQ PRJQX <br> CUSIP 743969594

MF214E2R6

![](g932053g14pgim_investments.jpg)

------

![](g932053g15tsrbanner.jpg)

PGIM Jennison International Opportunities Fund

Class A:

PWJAX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class A shares of PGIM Jennison International Opportunities Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison International Opportunities Fund—<br>Class A<br>| $54 | 1.09% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $5138902694<br>|
| Number of fund holdings | 35 |
| Portfolio turnover rate for the period | 54% |

---

MF215E2A

![](g932053g15pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 12.6% |
| Textiles, Apparel & Luxury Goods | 11.9% |
| Aerospace & Defense | 11.8% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.4% represents investments purchased with <br>collateral from securities on loan)<br>| 10.2% |
| Automobiles | 7.4% |
| Hotels, Restaurants & Leisure | 6.3% |
| Entertainment | 6.3% |
| Broadline Retail | 5.3% |
| Technology Hardware, Storage & Peripherals | 4.2% |
| Pharmaceuticals | 3.8% |
| Specialty Retail | 3.8% |
| Personal Care Products | 3.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 2.9% |
| Biotechnology | 2.5% |
| Health Care Equipment & Supplies | 2.3% |
| Electronic Equipment, Instruments & Components | 2.2% |
| Financial Services | 2.0% |
| Life Sciences Tools & Services | 1.6% |
| IT Services | 1.6% |
| Banks | 1.4% |
| Electrical Equipment | 0.7% |
|  | 103.9% |
| Liabilities in excess of other assets | (3.9)% |
|  | 100.0% |

---

&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.

![](g932053g15qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison International Opportunities Fund

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

SHARE CLASS A <br> NASDAQ PWJAX <br> CUSIP 743969677

MF215E2A

![](g932053g15pgim_investments.jpg)

------

![](g932053g16tsrbanner.jpg)

PGIM Jennison International Opportunities Fund

Class C:

PWJCX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class C shares of PGIM Jennison International Opportunities Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison International Opportunities Fund—<br>Class C<br>| $95 | 1.91% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $5138902694<br>|
| Number of fund holdings | 35 |
| Portfolio turnover rate for the period | 54% |

---

MF215E2C

![](g932053g16pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 12.6% |
| Textiles, Apparel & Luxury Goods | 11.9% |
| Aerospace & Defense | 11.8% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.4% represents investments purchased with <br>collateral from securities on loan)<br>| 10.2% |
| Automobiles | 7.4% |
| Hotels, Restaurants & Leisure | 6.3% |
| Entertainment | 6.3% |
| Broadline Retail | 5.3% |
| Technology Hardware, Storage & Peripherals | 4.2% |
| Pharmaceuticals | 3.8% |
| Specialty Retail | 3.8% |
| Personal Care Products | 3.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 2.9% |
| Biotechnology | 2.5% |
| Health Care Equipment & Supplies | 2.3% |
| Electronic Equipment, Instruments & Components | 2.2% |
| Financial Services | 2.0% |
| Life Sciences Tools & Services | 1.6% |
| IT Services | 1.6% |
| Banks | 1.4% |
| Electrical Equipment | 0.7% |
|  | 103.9% |
| Liabilities in excess of other assets | (3.9)% |
|  | 100.0% |

---

&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.

![](g932053g16qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison International Opportunities Fund

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

SHARE CLASS C <br> NASDAQ PWJCX <br> CUSIP 743969669

MF215E2C

![](g932053g16pgim_investments.jpg)

------

![](g932053g17tsrbanner.jpg)

PGIM Jennison International Opportunities Fund

Class R:

PWJRX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R shares of PGIM Jennison International Opportunities Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison International Opportunities Fund—<br>Class R<br>| $72 | 1.45% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $5138902694<br>|
| Number of fund holdings | 35 |
| Portfolio turnover rate for the period | 54% |

---

MF215E2R

![](g932053g17pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 12.6% |
| Textiles, Apparel & Luxury Goods | 11.9% |
| Aerospace & Defense | 11.8% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.4% represents investments purchased with <br>collateral from securities on loan)<br>| 10.2% |
| Automobiles | 7.4% |
| Hotels, Restaurants & Leisure | 6.3% |
| Entertainment | 6.3% |
| Broadline Retail | 5.3% |
| Technology Hardware, Storage & Peripherals | 4.2% |
| Pharmaceuticals | 3.8% |
| Specialty Retail | 3.8% |
| Personal Care Products | 3.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 2.9% |
| Biotechnology | 2.5% |
| Health Care Equipment & Supplies | 2.3% |
| Electronic Equipment, Instruments & Components | 2.2% |
| Financial Services | 2.0% |
| Life Sciences Tools & Services | 1.6% |
| IT Services | 1.6% |
| Banks | 1.4% |
| Electrical Equipment | 0.7% |
|  | 103.9% |
| Liabilities in excess of other assets | (3.9)% |
|  | 100.0% |

---

&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.

![](g932053g17qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison International Opportunities Fund

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

SHARE CLASS R <br> NASDAQ PWJRX <br> CUSIP 743969487

MF215E2R

![](g932053g17pgim_investments.jpg)

------

![](g932053g18tsrbanner.jpg)

PGIM Jennison International Opportunities Fund

Class Z:

PWJZX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class Z shares of PGIM Jennison International Opportunities Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison International Opportunities Fund—<br>Class Z<br>| $45 | 0.90% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $5138902694<br>|
| Number of fund holdings | 35 |
| Portfolio turnover rate for the period | 54% |

---

MF215E2Z

![](g932053g18pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 12.6% |
| Textiles, Apparel & Luxury Goods | 11.9% |
| Aerospace & Defense | 11.8% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.4% represents investments purchased with <br>collateral from securities on loan)<br>| 10.2% |
| Automobiles | 7.4% |
| Hotels, Restaurants & Leisure | 6.3% |
| Entertainment | 6.3% |
| Broadline Retail | 5.3% |
| Technology Hardware, Storage & Peripherals | 4.2% |
| Pharmaceuticals | 3.8% |
| Specialty Retail | 3.8% |
| Personal Care Products | 3.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 2.9% |
| Biotechnology | 2.5% |
| Health Care Equipment & Supplies | 2.3% |
| Electronic Equipment, Instruments & Components | 2.2% |
| Financial Services | 2.0% |
| Life Sciences Tools & Services | 1.6% |
| IT Services | 1.6% |
| Banks | 1.4% |
| Electrical Equipment | 0.7% |
|  | 103.9% |
| Liabilities in excess of other assets | (3.9)% |
|  | 100.0% |

---

&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.

![](g932053g18qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison International Opportunities Fund

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

SHARE CLASS Z <br> NASDAQ PWJZX <br> CUSIP 743969651

MF215E2Z

![](g932053g18pgim_investments.jpg)

------

![](g932053g19tsrbanner.jpg)

PGIM Jennison International Opportunities Fund

Class R2:

PWJBX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R2 shares of PGIM Jennison International Opportunities Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison International Opportunities Fund—<br>Class R2<br>| $67 | 1.34% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $5138902694<br>|
| Number of fund holdings | 35 |
| Portfolio turnover rate for the period | 54% |

---

MF215E2R2

![](g932053g19pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 12.6% |
| Textiles, Apparel & Luxury Goods | 11.9% |
| Aerospace & Defense | 11.8% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.4% represents investments purchased with <br>collateral from securities on loan)<br>| 10.2% |
| Automobiles | 7.4% |
| Hotels, Restaurants & Leisure | 6.3% |
| Entertainment | 6.3% |
| Broadline Retail | 5.3% |
| Technology Hardware, Storage & Peripherals | 4.2% |
| Pharmaceuticals | 3.8% |
| Specialty Retail | 3.8% |
| Personal Care Products | 3.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 2.9% |
| Biotechnology | 2.5% |
| Health Care Equipment & Supplies | 2.3% |
| Electronic Equipment, Instruments & Components | 2.2% |
| Financial Services | 2.0% |
| Life Sciences Tools & Services | 1.6% |
| IT Services | 1.6% |
| Banks | 1.4% |
| Electrical Equipment | 0.7% |
|  | 103.9% |
| Liabilities in excess of other assets | (3.9)% |
|  | 100.0% |

---

&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.

![](g932053g19qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison International Opportunities Fund

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

SHARE CLASS R2 <br> NASDAQ PWJBX <br> CUSIP 743969412

MF215E2R2

![](g932053g19pgim_investments.jpg)

------

![](g932053g20tsrbanner.jpg)

PGIM Jennison International Opportunities Fund

Class R4:

PWJDX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R4 shares of PGIM Jennison International Opportunities Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison International Opportunities Fund—<br>Class R4<br>| $54 | 1.09% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $5138902694<br>|
| Number of fund holdings | 35 |
| Portfolio turnover rate for the period | 54% |

---

MF215E2R4

![](g932053g20pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 12.6% |
| Textiles, Apparel & Luxury Goods | 11.9% |
| Aerospace & Defense | 11.8% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.4% represents investments purchased with <br>collateral from securities on loan)<br>| 10.2% |
| Automobiles | 7.4% |
| Hotels, Restaurants & Leisure | 6.3% |
| Entertainment | 6.3% |
| Broadline Retail | 5.3% |
| Technology Hardware, Storage & Peripherals | 4.2% |
| Pharmaceuticals | 3.8% |
| Specialty Retail | 3.8% |
| Personal Care Products | 3.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 2.9% |
| Biotechnology | 2.5% |
| Health Care Equipment & Supplies | 2.3% |
| Electronic Equipment, Instruments & Components | 2.2% |
| Financial Services | 2.0% |
| Life Sciences Tools & Services | 1.6% |
| IT Services | 1.6% |
| Banks | 1.4% |
| Electrical Equipment | 0.7% |
|  | 103.9% |
| Liabilities in excess of other assets | (3.9)% |
|  | 100.0% |

---

&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.

![](g932053g20qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison International Opportunities Fund

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

SHARE CLASS R4 <br> NASDAQ PWJDX <br> CUSIP 743969396

MF215E2R4

![](g932053g20pgim_investments.jpg)

------

![](g932053g21tsrbanner.jpg)

PGIM Jennison International Opportunities Fund

Class R6:

PWJQX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R6 shares of PGIM Jennison International Opportunities Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Jennison International Opportunities Fund—<br>Class R6<br>| $42 | 0.84% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $5138902694<br>|
| Number of fund holdings | 35 |
| Portfolio turnover rate for the period | 54% |

---

MF215E2R6

![](g932053g21pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Software | 12.6% |
| Textiles, Apparel & Luxury Goods | 11.9% |
| Aerospace & Defense | 11.8% |
| Affiliated Mutual Fund - Short-Term Investment <br>(4.4% represents investments purchased with <br>collateral from securities on loan)<br>| 10.2% |
| Automobiles | 7.4% |
| Hotels, Restaurants & Leisure | 6.3% |
| Entertainment | 6.3% |
| Broadline Retail | 5.3% |
| Technology Hardware, Storage & Peripherals | 4.2% |
| Pharmaceuticals | 3.8% |
| Specialty Retail | 3.8% |
| Personal Care Products | 3.1% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Semiconductors & Semiconductor Equipment | 2.9% |
| Biotechnology | 2.5% |
| Health Care Equipment & Supplies | 2.3% |
| Electronic Equipment, Instruments & Components | 2.2% |
| Financial Services | 2.0% |
| Life Sciences Tools & Services | 1.6% |
| IT Services | 1.6% |
| Banks | 1.4% |
| Electrical Equipment | 0.7% |
|  | 103.9% |
| Liabilities in excess of other assets | (3.9)% |
|  | 100.0% |

---

&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.

![](g932053g21qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Jennison International Opportunities Fund

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

SHARE CLASS R6 <br> NASDAQ PWJQX <br> CUSIP 743969586

MF215E2R6

![](g932053g21pgim_investments.jpg)

------

![](g932053g22tsrbanner.jpg)

PGIM Quant Solutions International Equity Fund

Class A:

PJRAX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class A shares of PGIM Quant Solutions International Equity Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Quant Solutions International Equity Fund—<br>Class A<br>| $72 | 1.39% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $244231824<br>|
| Number of fund holdings | 399 |
| Portfolio turnover rate for the period | 59% |

---

MF190E2A

![](g932053g22pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Affiliated Mutual Fund - Short-Term Investment <br>(3.7% represents investments purchased with <br>collateral from securities on loan)<br>| 16.6% |
| Banks | 15.2% |
| Pharmaceuticals | 7.3% |
| Insurance | 6.0% |
| Metals & Mining | 5.0% |
| Semiconductors & Semiconductor Equipment | 4.9% |
| Aerospace & Defense | 3.5% |
| Oil, Gas & Consumable Fuels | 3.2% |
| Unaffiliated Exchange-Traded Funds - Equity | 2.9% |
| Automobiles | 2.6% |
| Capital Markets | 2.5% |
| Consumer Staples Distribution & Retail | 2.4% |
| Diversified Telecommunication Services | 2.4% |
| Specialty Retail | 2.3% |
| Machinery | 2.2% |
| Technology Hardware, Storage & Peripherals | 1.9% |
| Food Products | 1.8% |
| IT Services | 1.7% |
| Electric Utilities | 1.6% |
| Entertainment | 1.6% |
| Construction & Engineering | 1.5% |
| Electrical Equipment | 1.4% |
| Interactive Media & Services | 1.4% |
| Industrial Conglomerates | 1.3% |
| Broadline Retail | 1.3% |
| Automobile Components | 1.2% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Real Estate Management & Development | 1.2% |
| Tobacco | 1.1% |
| Wireless Telecommunication Services | 1.1% |
| Household Durables | 1.1% |
| Multi-Utilities | 1.1% |
| Hotels, Restaurants & Leisure | 1.1% |
| Household Products | 1.1% |
| U.S. Treasury Obligations | 0.9% |
| Software | 0.8% |
| Textiles, Apparel & Luxury Goods | 0.8% |
| Passenger Airlines | 0.8% |
| Construction Materials | 0.8% |
| Building Products | 0.7% |
| Communications Equipment | 0.7% |
| Marine Transportation | 0.6% |
| Retail REITs | 0.6% |
| Chemicals | 0.6% |
| Commercial Services & Supplies | 0.5% |
| Electronic Equipment, Instruments & Components | 0.5% |
| Financial Services | 0.5% |
| Others\* | 2.5% |
|  | 114.8% |
| Liabilities in excess of other assets | (14.8)% |
|  | 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.

![](g932053g22qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Quant Solutions International Equity Fund

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

SHARE CLASS A <br> NASDAQ PJRAX <br> CUSIP 743969859

MF190E2A

![](g932053g22pgim_investments.jpg)

------

![](g932053g23tsrbanner.jpg)

PGIM Quant Solutions International Equity Fund

Class C:

PJRCX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class C shares of PGIM Quant Solutions International Equity Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Quant Solutions International Equity Fund—<br>Class C<br>| $139 | 2.69% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $244231824<br>|
| Number of fund holdings | 399 |
| Portfolio turnover rate for the period | 59% |

---

MF190E2C

![](g932053g23pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Affiliated Mutual Fund - Short-Term Investment <br>(3.7% represents investments purchased with <br>collateral from securities on loan)<br>| 16.6% |
| Banks | 15.2% |
| Pharmaceuticals | 7.3% |
| Insurance | 6.0% |
| Metals & Mining | 5.0% |
| Semiconductors & Semiconductor Equipment | 4.9% |
| Aerospace & Defense | 3.5% |
| Oil, Gas & Consumable Fuels | 3.2% |
| Unaffiliated Exchange-Traded Funds - Equity | 2.9% |
| Automobiles | 2.6% |
| Capital Markets | 2.5% |
| Consumer Staples Distribution & Retail | 2.4% |
| Diversified Telecommunication Services | 2.4% |
| Specialty Retail | 2.3% |
| Machinery | 2.2% |
| Technology Hardware, Storage & Peripherals | 1.9% |
| Food Products | 1.8% |
| IT Services | 1.7% |
| Electric Utilities | 1.6% |
| Entertainment | 1.6% |
| Construction & Engineering | 1.5% |
| Electrical Equipment | 1.4% |
| Interactive Media & Services | 1.4% |
| Industrial Conglomerates | 1.3% |
| Broadline Retail | 1.3% |
| Automobile Components | 1.2% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Real Estate Management & Development | 1.2% |
| Tobacco | 1.1% |
| Wireless Telecommunication Services | 1.1% |
| Household Durables | 1.1% |
| Multi-Utilities | 1.1% |
| Hotels, Restaurants & Leisure | 1.1% |
| Household Products | 1.1% |
| U.S. Treasury Obligations | 0.9% |
| Software | 0.8% |
| Textiles, Apparel & Luxury Goods | 0.8% |
| Passenger Airlines | 0.8% |
| Construction Materials | 0.8% |
| Building Products | 0.7% |
| Communications Equipment | 0.7% |
| Marine Transportation | 0.6% |
| Retail REITs | 0.6% |
| Chemicals | 0.6% |
| Commercial Services & Supplies | 0.5% |
| Electronic Equipment, Instruments & Components | 0.5% |
| Financial Services | 0.5% |
| Others\* | 2.5% |
|  | 114.8% |
| Liabilities in excess of other assets | (14.8)% |
|  | 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.

![](g932053g23qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Quant Solutions International Equity Fund

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

SHARE CLASS C <br> NASDAQ PJRCX <br> CUSIP 743969875

MF190E2C

![](g932053g23pgim_investments.jpg)

------

![](g932053g24tsrbanner.jpg)

PGIM Quant Solutions International Equity Fund

Class Z:

PJIZX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class Z shares of PGIM Quant Solutions International Equity Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Quant Solutions International Equity Fund—<br>Class Z<br>| $50 | 0.96% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $244231824<br>|
| Number of fund holdings | 399 |
| Portfolio turnover rate for the period | 59% |

---

MF190E2Z

![](g932053g24pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Affiliated Mutual Fund - Short-Term Investment <br>(3.7% represents investments purchased with <br>collateral from securities on loan)<br>| 16.6% |
| Banks | 15.2% |
| Pharmaceuticals | 7.3% |
| Insurance | 6.0% |
| Metals & Mining | 5.0% |
| Semiconductors & Semiconductor Equipment | 4.9% |
| Aerospace & Defense | 3.5% |
| Oil, Gas & Consumable Fuels | 3.2% |
| Unaffiliated Exchange-Traded Funds - Equity | 2.9% |
| Automobiles | 2.6% |
| Capital Markets | 2.5% |
| Consumer Staples Distribution & Retail | 2.4% |
| Diversified Telecommunication Services | 2.4% |
| Specialty Retail | 2.3% |
| Machinery | 2.2% |
| Technology Hardware, Storage & Peripherals | 1.9% |
| Food Products | 1.8% |
| IT Services | 1.7% |
| Electric Utilities | 1.6% |
| Entertainment | 1.6% |
| Construction & Engineering | 1.5% |
| Electrical Equipment | 1.4% |
| Interactive Media & Services | 1.4% |
| Industrial Conglomerates | 1.3% |
| Broadline Retail | 1.3% |
| Automobile Components | 1.2% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Real Estate Management & Development | 1.2% |
| Tobacco | 1.1% |
| Wireless Telecommunication Services | 1.1% |
| Household Durables | 1.1% |
| Multi-Utilities | 1.1% |
| Hotels, Restaurants & Leisure | 1.1% |
| Household Products | 1.1% |
| U.S. Treasury Obligations | 0.9% |
| Software | 0.8% |
| Textiles, Apparel & Luxury Goods | 0.8% |
| Passenger Airlines | 0.8% |
| Construction Materials | 0.8% |
| Building Products | 0.7% |
| Communications Equipment | 0.7% |
| Marine Transportation | 0.6% |
| Retail REITs | 0.6% |
| Chemicals | 0.6% |
| Commercial Services & Supplies | 0.5% |
| Electronic Equipment, Instruments & Components | 0.5% |
| Financial Services | 0.5% |
| Others\* | 2.5% |
|  | 114.8% |
| Liabilities in excess of other assets | (14.8)% |
|  | 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.

![](g932053g24qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Quant Solutions International Equity Fund

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

SHARE CLASS Z <br> NASDAQ PJIZX <br> CUSIP 743969883

MF190E2Z

![](g932053g24pgim_investments.jpg)

------

![](g932053g25tsrbanner.jpg)

PGIM Quant Solutions International Equity Fund

Class R6:

PJRQX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R6 shares of PGIM Quant Solutions International Equity Fund

(the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Quant Solutions International Equity Fund—<br>Class R6<br>| $41 | 0.78% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $244231824<br>|
| Number of fund holdings | 399 |
| Portfolio turnover rate for the period | 59% |

---

MF190E2R6

![](g932053g25pgim_investments.jpg)

------

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

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

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Affiliated Mutual Fund - Short-Term Investment <br>(3.7% represents investments purchased with <br>collateral from securities on loan)<br>| 16.6% |
| Banks | 15.2% |
| Pharmaceuticals | 7.3% |
| Insurance | 6.0% |
| Metals & Mining | 5.0% |
| Semiconductors & Semiconductor Equipment | 4.9% |
| Aerospace & Defense | 3.5% |
| Oil, Gas & Consumable Fuels | 3.2% |
| Unaffiliated Exchange-Traded Funds - Equity | 2.9% |
| Automobiles | 2.6% |
| Capital Markets | 2.5% |
| Consumer Staples Distribution & Retail | 2.4% |
| Diversified Telecommunication Services | 2.4% |
| Specialty Retail | 2.3% |
| Machinery | 2.2% |
| Technology Hardware, Storage & Peripherals | 1.9% |
| Food Products | 1.8% |
| IT Services | 1.7% |
| Electric Utilities | 1.6% |
| Entertainment | 1.6% |
| Construction & Engineering | 1.5% |
| Electrical Equipment | 1.4% |
| Interactive Media & Services | 1.4% |
| Industrial Conglomerates | 1.3% |
| Broadline Retail | 1.3% |
| Automobile Components | 1.2% |

---

---

| | |
|:---|:---|
| Industry Classification | % of Net <br>Assets<br>|
| Real Estate Management & Development | 1.2% |
| Tobacco | 1.1% |
| Wireless Telecommunication Services | 1.1% |
| Household Durables | 1.1% |
| Multi-Utilities | 1.1% |
| Hotels, Restaurants & Leisure | 1.1% |
| Household Products | 1.1% |
| U.S. Treasury Obligations | 0.9% |
| Software | 0.8% |
| Textiles, Apparel & Luxury Goods | 0.8% |
| Passenger Airlines | 0.8% |
| Construction Materials | 0.8% |
| Building Products | 0.7% |
| Communications Equipment | 0.7% |
| Marine Transportation | 0.6% |
| Retail REITs | 0.6% |
| Chemicals | 0.6% |
| Commercial Services & Supplies | 0.5% |
| Electronic Equipment, Instruments & Components | 0.5% |
| Financial Services | 0.5% |
| Others\* | 2.5% |
|  | 114.8% |
| Liabilities in excess of other assets | (14.8)% |
|  | 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.

![](g932053g25qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Quant Solutions International Equity Fund

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

SHARE CLASS R6 <br> NASDAQ PJRQX <br> CUSIP 743969578

MF190E2R6

![](g932053g25pgim_investments.jpg)

------

![](g932053g26tsrbanner.jpg)

PGIM Emerging Markets Debt Hard Currency Fund

Class A:

PDHAX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class A shares of PGIM Emerging Markets Debt Hard Currency

Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Emerging Markets Debt Hard Currency <br>Fund—Class A<br>| $53 | 1.05% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $215127715<br>|
| Number of fund holdings | 708 |
| Portfolio turnover rate for the period | 15% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) | Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) |
| AAA | 2.2 |
| AA | 6.6 |
| A | 3.1 |
| BBB | 38.0 |
| BB | 24.5 |
| B | 16.5 |
| CCC | 4.9 |
| C | 1.1 |
| D | 0.3 |
| Not Rated | 0.4 |
| Cash/Cash Equivalents | 2.4 |
| Total | 100.0 |

---

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

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

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

MF239E2A

![](g932053g26pgim_investments.jpg)

------

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.

![](g932053g26qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Emerging Markets Debt Hard Currency Fund

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

SHARE CLASS A <br> NASDAQ PDHAX <br> CUSIP 743969479

MF239E2A

![](g932053g26pgim_investments.jpg)

------

![](g932053g27tsrbanner.jpg)

PGIM Emerging Markets Debt Hard Currency Fund

Class C:

PDHCX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class C shares of PGIM Emerging Markets Debt Hard Currency

Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Emerging Markets Debt Hard Currency <br>Fund—Class C<br>| $90 | 1.80% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $215127715<br>|
| Number of fund holdings | 708 |
| Portfolio turnover rate for the period | 15% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) | Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) |
| AAA | 2.2 |
| AA | 6.6 |
| A | 3.1 |
| BBB | 38.0 |
| BB | 24.5 |
| B | 16.5 |
| CCC | 4.9 |
| C | 1.1 |
| D | 0.3 |
| Not Rated | 0.4 |
| Cash/Cash Equivalents | 2.4 |
| Total | 100.0 |

---

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

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

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

MF239E2C

![](g932053g27pgim_investments.jpg)

------

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.

![](g932053g27qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Emerging Markets Debt Hard Currency Fund

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

SHARE CLASS C <br> NASDAQ PDHCX <br> CUSIP 743969461

MF239E2C

![](g932053g27pgim_investments.jpg)

------

![](g932053g28tsrbanner.jpg)

PGIM Emerging Markets Debt Hard Currency Fund

Class Z:

PDHVX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class Z shares of PGIM Emerging Markets Debt Hard Currency

Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Emerging Markets Debt Hard Currency <br>Fund—Class Z<br>| $35 | 0.69% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $215127715<br>|
| Number of fund holdings | 708 |
| Portfolio turnover rate for the period | 15% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) | Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) |
| AAA | 2.2 |
| AA | 6.6 |
| A | 3.1 |
| BBB | 38.0 |
| BB | 24.5 |
| B | 16.5 |
| CCC | 4.9 |
| C | 1.1 |
| D | 0.3 |
| Not Rated | 0.4 |
| Cash/Cash Equivalents | 2.4 |
| Total | 100.0 |

---

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

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

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

MF239E2Z

![](g932053g28pgim_investments.jpg)

------

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.

![](g932053g28qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Emerging Markets Debt Hard Currency Fund

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

SHARE CLASS Z <br> NASDAQ PDHVX <br> CUSIP 743969446

MF239E2Z

![](g932053g28pgim_investments.jpg)

------

![](g932053g29tsrbanner.jpg)

PGIM Emerging Markets Debt Hard Currency Fund

Class R6:

PDHQX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R6 shares of PGIM Emerging Markets Debt Hard Currency

Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Emerging Markets Debt Hard Currency <br>Fund—Class R6<br>| $33 | 0.65% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $215127715<br>|
| Number of fund holdings | 708 |
| Portfolio turnover rate for the period | 15% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) | Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) |
| AAA | 2.2 |
| AA | 6.6 |
| A | 3.1 |
| BBB | 38.0 |
| BB | 24.5 |
| B | 16.5 |
| CCC | 4.9 |
| C | 1.1 |
| D | 0.3 |
| Not Rated | 0.4 |
| Cash/Cash Equivalents | 2.4 |
| Total | 100.0 |

---

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

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

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

MF239E2R6

![](g932053g29pgim_investments.jpg)

------

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.

![](g932053g29qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Emerging Markets Debt Hard Currency Fund

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

SHARE CLASS R6 <br> NASDAQ PDHQX <br> CUSIP 743969453

MF239E2R6

![](g932053g29pgim_investments.jpg)

------

![](g932053g30tsrbanner.jpg)

PGIM Emerging Markets Debt Local Currency Fund

Class A:

EMDAX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class A shares of PGIM Emerging Markets Debt Local Currency

Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Emerging Markets Debt Local Currency <br>Fund—Class A<br>| $57 | 1.13% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $35896198<br>|
| Number of fund holdings | 485 |
| Portfolio turnover rate for the period | 23% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) | Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) |
| AAA | 3.3 |
| AA | 4.5 |
| A | 24.0 |
| BBB | 39.5 |
| BB | 22.5 |
| Not Rated | (0.4) |
| Cash/Cash Equivalents | 6.6 |
| Total | 100.0 |

---

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

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

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

MF212E2A

![](g932053g30pgim_investments.jpg)

------

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.

![](g932053g30qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Emerging Markets Debt Local Currency Fund

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

SHARE CLASS A <br> NASDAQ EMDAX <br> CUSIP 743969750

MF212E2A

![](g932053g30pgim_investments.jpg)

------

![](g932053g31tsrbanner.jpg)

PGIM Emerging Markets Debt Local Currency Fund

Class C:

EMDCX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class C shares of PGIM Emerging Markets Debt Local Currency

Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Emerging Markets Debt Local Currency <br>Fund—Class C<br>| $95 | 1.88% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $35896198<br>|
| Number of fund holdings | 485 |
| Portfolio turnover rate for the period | 23% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) | Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) |
| AAA | 3.3 |
| AA | 4.5 |
| A | 24.0 |
| BBB | 39.5 |
| BB | 22.5 |
| Not Rated | (0.4) |
| Cash/Cash Equivalents | 6.6 |
| Total | 100.0 |

---

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

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

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

MF212E2C

![](g932053g31pgim_investments.jpg)

------

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.

![](g932053g31qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Emerging Markets Debt Local Currency Fund

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

SHARE CLASS C <br> NASDAQ EMDCX <br> CUSIP 743969743

MF212E2C

![](g932053g31pgim_investments.jpg)

------

![](g932053g32tsrbanner.jpg)

PGIM Emerging Markets Debt Local Currency Fund

Class Z:

EMDZX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class Z shares of PGIM Emerging Markets Debt Local Currency

Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Emerging Markets Debt Local Currency <br>Fund—Class Z<br>| $37 | 0.72% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $35896198<br>|
| Number of fund holdings | 485 |
| Portfolio turnover rate for the period | 23% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) | Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) |
| AAA | 3.3 |
| AA | 4.5 |
| A | 24.0 |
| BBB | 39.5 |
| BB | 22.5 |
| Not Rated | (0.4) |
| Cash/Cash Equivalents | 6.6 |
| Total | 100.0 |

---

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

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

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

MF212E2Z

![](g932053g32pgim_investments.jpg)

------

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.

![](g932053g32qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Emerging Markets Debt Local Currency Fund

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

SHARE CLASS Z <br> NASDAQ EMDZX <br> CUSIP 743969727

MF212E2Z

![](g932053g32pgim_investments.jpg)

------

![](g932053g33tsrbanner.jpg)

PGIM Emerging Markets Debt Local Currency Fund

Class R6:

EMDQX

SEMIANNUAL SHAREHOLDER REPORT – April 30, 2025

This semiannual shareholder report contains important information about the Class R6 shares of PGIM Emerging Markets Debt Local Currency

Fund (the "Fund") for the period of November 1, 2024 to April 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 SIX MONTHS?

(Based on a hypothetical $10,000 investment)

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

---

| | | |
|:---|:---|:---|
|  | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
| &nbsp;&nbsp;PGIM Emerging Markets Debt Local Currency <br>Fund—Class R6<br>| $33 | 0.65% |

---

WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Fund's net assets | $35896198<br>|
| Number of fund holdings | 485 |
| Portfolio turnover rate for the period | 23% |

---

WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 4/30/2025?

---

| | |
|:---|:---|
| Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) | Credit Quality expressed as a percentage of total investments as of 4/30/2025 (%) |
| AAA | 3.3 |
| AA | 4.5 |
| A | 24.0 |
| BBB | 39.5 |
| BB | 22.5 |
| Not Rated | (0.4) |
| Cash/Cash Equivalents | 6.6 |
| Total | 100.0 |

---

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

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

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

MF212E2R6

![](g932053g33pgim_investments.jpg)

------

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.

![](g932053g33qrcode_retailtsr.jpg)

To receive your fund documents online, go to

pgim.com/investments/resource/edelivery

and enroll.

PGIM Emerging Markets Debt Local Currency Fund

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

SHARE CLASS R6 <br> NASDAQ EMDQX <br> CUSIP 743969735

MF212E2R6

![](g932053g33pgim_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 – Not required, as this is not an annual filing.

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

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

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

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

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

------

![LOGO](g932053snap1.jpg)

## PRUDENTIAL WORLD FUND, INC.
PGIM Jennison Emerging Markets Equity Opportunities Fund

PGIM Jennison Global Infrastructure Fund

PGIM Jennison Global Opportunities Fund

PGIM Jennison International Opportunities Fund

PGIM Quant Solutions International Equity Fund

#### FINANCIAL STATEMENTS AND OTHER INFORMATION

#### APRIL 30, 2025
![LOGO](g932053sn1.jpg)

------

<u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Table of Contents** </u>   <u> Financial Statements and Other Information </u>   <u> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 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;&nbsp;&nbsp;&nbsp;&nbsp; [Glossary](#edgar932053_1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [PGIM Jennison Emerging Markets Equity Opportunities](#edgar932053_2) | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [PGIM Jennison Global Infrastructure Fund](#edgar932053_3) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [PGIM Jennison Global Opportunities Fund](#edgar932053_4) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [PGIM Jennison International Opportunities Fund](#edgar932053_5) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [PGIM Quant Solutions International Equity Fund](#edgar932053_6) | 62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Notes to Financial Statements](#edgar932053_7) | 89 |

---

[**Other Information -** Form N-CSR Items 8-11](#edgar932053_8)

------

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

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

#### Glossary
The following abbreviations are used in the Funds' descriptions:

144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers.

ADR—American Depositary Receipt

CVA—Certificate Van Aandelen (Bearer)

EAFE—Europe, Australasia, Far East

ETF—Exchange-Traded Fund

GS—Goldman Sachs & Co. LLC

MSCI—Morgan Stanley Capital International

PJSC—Public Joint-Stock Company

PRFC—Preference Shares

REITs—Real Estate Investment Trust

SOFR—Secured Overnight Financing Rate

UTS—Unit Trust Security

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Schedule of Investments (unaudited)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 99.3%** | &nbsp;&nbsp; **LONG-TERM INVESTMENTS 99.3%** | &nbsp;&nbsp; **LONG-TERM INVESTMENTS 99.3%** |
| &nbsp;&nbsp; **COMMON STOCKS** | &nbsp;&nbsp; **COMMON STOCKS** | &nbsp;&nbsp; **COMMON STOCKS** |
| &nbsp;&nbsp; **Argentina 4.7%** | &nbsp;&nbsp; **Argentina 4.7%** | &nbsp;&nbsp; **Argentina 4.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Financiero Galicia SA, ADR | 477551 | $28844080 |
| &nbsp;&nbsp; **Brazil 14.0%** | &nbsp;&nbsp; **Brazil 14.0%** | &nbsp;&nbsp; **Brazil 14.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco BTG Pactual SA, UTS | 1734556 | 11696864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Embraer SA, ADR\* | 763228 | 35062695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NU Holdings Ltd. (Class A Stock)\* | 1661500 | 20652445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XP, Inc. (Class A Stock) | 1149201 | 18502136 |
|  |  | 85914140 |
| &nbsp;&nbsp; **China 44.6%** | &nbsp;&nbsp; **China 44.6%** | &nbsp;&nbsp; **China 44.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd., ADR(a) | 281695 | 33642834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bilibili, Inc., ADR\*(a) | 946782 | 16568685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BYD Co. Ltd. (Class H Stock) | 846079 | 40185576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kanzhun Ltd., ADR\* | 1338438 | 20478101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KE Holdings, Inc., ADR(a) | 1054133 | 21398900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Laopu Gold Co. Ltd. (Class H Stock)\*(a) | 198592 | 18407518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leader Harmonious Drive Systems Co. Ltd. (Class A Stock) | 234662 | 4770879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meituan (Class B Stock), 144A\* | 588911 | 9750857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tencent Holdings Ltd., ADR(a) | 654262 | 39949238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tencent Music Entertainment Group, ADR | 1003792 | 13470889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trip.com Group Ltd., ADR | 260051 | 15340408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xiaomi Corp. (Class B Stock), 144A\* | 4704524 | 30119325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zai Lab Ltd., ADR\*(a) | 314483 | 9965966 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274049176 |
| &nbsp;&nbsp; **Hong Kong 2.7%** | &nbsp;&nbsp; **Hong Kong 2.7%** | &nbsp;&nbsp; **Hong Kong 2.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futu Holdings Ltd., ADR | 183222 | 16913223 |
| &nbsp;&nbsp; **India 11.5%** | &nbsp;&nbsp; **India 11.5%** | &nbsp;&nbsp; **India 11.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. | 709768 | 15656241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Devyani International Ltd.\* | 3831241 | 8141377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICICI Bank Ltd. | 945587 | 15894640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. | 216188 | 7490312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MakeMyTrip Ltd.\* | 192903 | 20220092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Max Estates Ltd.\* | 663335 | 3212494 |
|  |  | 70615156 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 2 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Indonesia 2.8%** | &nbsp;&nbsp; **Indonesia 2.8%** | &nbsp;&nbsp; **Indonesia 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Central Asia Tbk PT | 20469095 | $10883226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Syariah Indonesia Tbk PT | 35413309 | 6090817 |
|  |  | 16974043 |
| &nbsp;&nbsp; **Mexico 1.8%** | &nbsp;&nbsp; **Mexico 1.8%** | &nbsp;&nbsp; **Mexico 1.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern Copper Corp.(a) | 121750 | 10899060 |
| &nbsp;&nbsp; **Poland 2.0%** | &nbsp;&nbsp; **Poland 2.0%** | &nbsp;&nbsp; **Poland 2.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LPP SA | 2946 | 12057258 |
| &nbsp;&nbsp; **South Korea 5.3%** | &nbsp;&nbsp; **South Korea 5.3%** | &nbsp;&nbsp; **South Korea 5.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Classys, Inc. | 265353 | 11998597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HD Hyundai Electric Co. Ltd. | 34135 | 7428628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hugel, Inc.\* | 50257 | 12878022 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32305247 |
| &nbsp;&nbsp; **Taiwan 9.9%** | &nbsp;&nbsp; **Taiwan 9.9%** | &nbsp;&nbsp; **Taiwan 9.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alchip Technologies Ltd. | 167580 | 11198657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASE Technology Holding Co. Ltd. | 3034481 | 12930530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASPEED Technology, Inc. | 81141 | 7633456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MediaTek, Inc. | 379953 | 16145382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | 243746 | 6906434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 36764 | 6128191 |
|  |  | 60942650 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $527,508,666) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609514033 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 11.9%** | &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 11.9%** | &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 11.9%** |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)(wb) | 5080604 | 5080604 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Emerging Markets Equity Opportunities Fund 3 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cost $68,136,149; includes $67,802,006 of cash collateral for securities on loan)(b)(wb) | 68190701 | $68142968 |
| &nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $73,216,753) |  | 73223572 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 111.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $600,725,419) |  | 682737605 |
| &nbsp;&nbsp; Liabilities in excess of other assets (11.2)% |  | (68735389) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614002216 |

---

See the Glossary for a list of the abbreviation(s) used in the semiannual report.

\* 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 $65,782,725; cash collateral of $67,802,006 (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 April 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; Argentina | $28844080 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 85914140 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; China | 170815021 | 103234155 |  |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 4 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 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; Hong Kong | $16913223 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; India | 23432586 | 47182570 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesia |  | 16974043 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico | 10899060 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Poland |  | 12057258 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea |  | 32305247 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | 6128191 | 54814459 |  |
|  **Short-Term Investments** |  |  |  |
|  Affiliated Mutual Funds | 73223572 |  |  |
|  **Total** | $**416169873** | $**266567732** | **$—** |

---

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

---

| | |
|:---|:---|
|  Banks | 13.5 |
|  Interactive Media & Services | 12.5 |
|  Affiliated Mutual Funds (11.0% represents investments purchased with collateral from securities on loan) | 11.9 |
|  Semiconductors & Semiconductor Equipment | 9.9 |
|  Hotels, Restaurants & Leisure | 8.7 |
|  Automobiles | 7.7 |
|  Capital Markets | 7.6 |
|  Aerospace & Defense | 5.7 |
|  Broadline Retail | 5.5 |
|  Textiles, Apparel & Luxury Goods | 5.0 |
|  Technology Hardware, Storage & Peripherals | 4.9 |
|  Real Estate Management & Development | 4.0 |

---

---

| | |
|:---|:---|
|  Biotechnology | 3.7% |
|  Wireless Telecommunication Services | 2.6 |
|  Entertainment | 2.2 |
|  Health Care Equipment & Supplies | 2.0 |
|  Metals & Mining | 1.8 |
|  Electrical Equipment | 1.2 |
|  Machinery | 0.8 |
|  | 111.2 |
|  Liabilities in excess of other assets | (11.2) |
|  | 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:

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Emerging Markets Equity Opportunities Fund 5 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Gross Market<br>Value of<br>Recognized<br>Assets/(Liabilities)** | **Collateral<br>Pledged/(Received)(1)** | **Net**<br> **Amount**  |
|  Securities on Loan | $65782725 | $(65782725) | $— |

---

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

---

| |
|:---|
| See Notes to Financial Statements. |
| 6 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Statement of Assets & Liabilities (unaudited)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value, including securities on loan of $65,782,725: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $527,508,666) | $609514033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $73,216,753) | 73223572 |
| &nbsp;&nbsp; Foreign currency, at value (cost $355,264) | 354983 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 642872 |
| &nbsp;&nbsp; Dividends receivable | 199709 |
| &nbsp;&nbsp; Tax reclaim receivable | 19488 |
| &nbsp;&nbsp; Receivable for investments sold | 1446 |
| &nbsp;&nbsp; Prepaid expenses | 2115 |
| &nbsp;&nbsp; **Total Assets** | 683958218 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Payable to broker for collateral for securities on loan | 67802006 |
| &nbsp;&nbsp; Payable for Fund shares purchased | 801311 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 571406 |
| &nbsp;&nbsp; Management fee payable | 407657 |
| &nbsp;&nbsp; Foreign capital gains tax liability accrued | 359220 |
| &nbsp;&nbsp; Distribution fee payable | 7584 |
| &nbsp;&nbsp; Affiliated transfer agent fee payable | 5133 |
| &nbsp;&nbsp; Directors' fees payable | 1685 |
| &nbsp;&nbsp; **Total Liabilities** | 69956002 |
| &nbsp;&nbsp; **Net Assets** | $614002216 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 981538030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (367536174) |
| &nbsp;&nbsp; **Net assets, April 30, 2025** | $614002216 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Emerging Markets Equity Opportunities Fund 7 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Statement of Assets & Liabilities (unaudited) (continued)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp; Net asset value and redemption price per share,<br> ($26,450,917 ÷ 1,593,347 shares of common stock issued and outstanding) | $16.60 |
| &nbsp;&nbsp; Maximum sales charge (5.50% of offering price) | 0.97 |
| &nbsp;&nbsp; Maximum offering price to public | $17.57 |
| &nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($2,913,488 ÷ 190,019 shares of common stock issued and outstanding) | $15.33 |
| &nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($278,044,088 ÷ 16,317,733 shares of common stock issued and outstanding) | $17.04 |
| &nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($306,593,723 ÷ 17,946,992 shares of common stock issued and outstanding) | $17.08 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 8 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Statement of Operations (unaudited)

Six Months Ended April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** |  |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Unaffiliated dividend income (net of $270,028 foreign withholding tax) | $1727390 |
| &nbsp;&nbsp; Affiliated dividend income | 531309 |
| &nbsp;&nbsp; Income from securities lending, net (including affiliated income of $79,730) | 366475 |
| &nbsp;&nbsp; **Total income** | 2625174 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 2895624 |
| &nbsp;&nbsp; Distribution fee(a) | 58193 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $19,579)(a) | 211238 |
| &nbsp;&nbsp; Custodian and accounting fees | 118826 |
| &nbsp;&nbsp; Shareholders' reports | 59995 |
| &nbsp;&nbsp; Registration fees(a) | 44928 |
| &nbsp;&nbsp; Professional fees | 22307 |
| &nbsp;&nbsp; Audit fee | 15498 |
| &nbsp;&nbsp; Directors' fees | 9758 |
| &nbsp;&nbsp; Miscellaneous | 15366 |
| &nbsp;&nbsp; **Total expenses** | 3451733 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (294033) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distribution fee waiver(a) | (7151) |
| &nbsp;&nbsp; **Net expenses** | 3150549 |
| &nbsp;&nbsp; Net investment income (loss) | (525375) |
| &nbsp;&nbsp; **Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions** |  |
| &nbsp;&nbsp; Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment transactions (including affiliated of $(21520)) (net of foreign capital gains taxes $(1833797)) | 77098658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | (145898) |
|  | 76952760 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (including affiliated of $6,819) (net of change in foreign capital gains taxes $2,427,652) | (104475259) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 27679 |
|  | (104447580) |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | (27494820) |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $(28020195) |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Emerging Markets Equity Opportunities Fund 9 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Statement of Operations (unaudited) (continued)

Six Months Ended April 30, 2025

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class Z** | **Class R6** |
|  Distribution fee | 42903 | 15290 |  |  |
|  Transfer agent's fees and expenses | 21250 | 4841 | 172643 | 12504 |
|  Registration fees | 8761 | 6970 | 16969 | 12228 |
|  Fee waiver and/or expense reimbursement | (27048) | (11495) | (159631) | (95859) |
|  Distribution fee waiver | (7151) |  |  |  |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 10 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Statements of Changes in Net Assets (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended<br>April 30, 2025** | **Year Ended<br>October 31, 2024** |
| &nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $(525375) | $96805 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | 76952760 | 67703041 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | (104447580) | 124480950 |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | (28020195) | 192280796 |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp; Class A |  |  |
| &nbsp;&nbsp; Class C |  |  |
| &nbsp;&nbsp; Class Z |  |  |
| &nbsp;&nbsp; Class R6 | (99297) |  |
|  | (99297) |  |
| &nbsp;&nbsp; **Fund share transactions (Net of share conversions)** |  |  |
| &nbsp;&nbsp; Net proceeds from shares sold | 176085787 | 166730163 |
| &nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 99283 |  |
| &nbsp;&nbsp; Cost of shares purchased | (151942793) | (265380401) |
| &nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | 24242277 | (98650238) |
| &nbsp;&nbsp; Total increase (decrease) | (3877215) | 93630558 |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 617879431 | 524248873 |
| &nbsp;&nbsp; End of period | $614002216 | $617879431 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Emerging Markets Equity Opportunities Fund 11 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Financial Highlights (unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class A Shares** |  |  |  |  |  |  |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $17.34 | $12.40 | $12.39 | $23.66 | $17.66 | $12.16 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.04) | (0.04)<sup>(b)</sup> | (0.03)<sup>(b)</sup> | (0.12) | (0.23) | (0.14) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.70) | 4.98 | 0.04 | (11.15) | 6.23 | 5.64 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (0.74) | 4.94 | 0.01 | (11.27) | 6.00 | 5.50 |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $16.60 | $17.34 | $12.40 | $12.39 | $23.66 | $17.66 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | (4.32)% | 39.92% | 0.08% | (47.63)% | 33.98% | 45.23% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $26451 | $30012 | $24886 | $28082 | $47683 | $6144 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $28839 | $28592 | $28066 | $36017 | $26309 | $4507 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.30 %<sup>(e)</sup> | 1.30% | 1.30% | 1.30% | 1.33% | 1.45% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.54 %<sup>(e)</sup> | 1.53% | 1.56% | 1.54% | 1.64% | 2.61% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.46)%<sup>(e)</sup> | (0.25)% | (0.23)% | (0.74)% | (0.98)% | (0.99)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup>  | 67% | 70% | 103% | 134% | 78% | 58% |

---

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

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

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

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

(e) Annualized.

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

---

| |
|:---|
| See Notes to Financial Statements. |
| 12 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class C Shares** |  |  |  |  |  |  |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $16.08 | $11.58 | $11.66 | $22.43 | $16.88 | $11.71 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.09) | (0.14)<sup>(b)</sup> | (0.12)<sup>(b)</sup> | (0.23) | (0.39) | (0.23) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.66) | 4.64 | 0.04 | (10.54) | 5.94 | 5.40 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (0.75) | 4.50 | (0.08) | (10.77) | 5.55 | 5.17 |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $15.33 | $16.08 | $11.58 | $11.66 | $22.43 | $16.88 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | (4.66)% | 38.86% | (0.69)% | (48.02)% | 32.96% | 44.06% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $2913 | $3321 | $3140 | $3724 | $5881 | $1563 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $3083 | $3426 | $3660 | $4938 | $4077 | $1244 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 2.05 %<sup>(e)</sup> | 2.05% | 2.05% | 2.05% | 2.09% | 2.20% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 2.80 %<sup>(e)</sup> | 2.70% | 2.66% | 2.69% | 2.65% | 4.15% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (1.21)%<sup>(e)</sup> | (0.98)% | (0.99)% | (1.48)% | (1.76)% | (1.73)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup>  | 67% | 70% | 103% | 134% | 78% | 58% |

---

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

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

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

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

(e) Annualized.

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

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Emerging Markets Equity Opportunities Fund 13 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class Z Shares** |  |  |  |  |  |  |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $17.78 | $12.68 | $12.64 | $24.07 | $17.93 | $12.31 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.02) | (-)<sup>(b)(c)</sup> | - <sup>(c)</sup> | (0.08) | (0.17) | (0.13) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.72) | 5.10 | 0.04 | (11.35) | 6.31 | 5.75 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (0.74) | 5.10 | 0.04 | (11.43) | 6.14 | 5.62 |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $17.04 | $17.78 | $12.68 | $12.64 | $24.07 | $17.93 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | (4.22)% | 40.30% | 0.32% | (47.49)% | 34.24% | 45.65% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $278044 | $308907 | $249580 | $393985 | $642316 | $34993 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $291544 | $274411 | $341699 | $549186 | $293229 | $11195 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.05 %<sup>(f)</sup> | 1.05% | 1.05% | 1.05% | 1.08% | 1.20% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.16 %<sup>(f)</sup> | 1.15% | 1.20% | 1.20% | 1.28% | 1.93% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.20)%<sup>(f)</sup> | (-)%<sup>(c)</sup> | - %<sup>(c)</sup> | (0.49)% | (0.72)% | (0.83)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup>  | 67% | 70% | 103% | 134% | 78% | 58% |

---

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

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

(c) Amount rounds to zero.

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

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

(f) Annualized.

(g) 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. |
| 14 |

---

------

PGIM Jennison Emerging Markets Equity Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R6 Shares** |  |  |  |  |  |  |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $17.82 | $12.71 | $12.66 | $24.08 | $17.93 | $12.31 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.01) | 0.01 | 0.01 | (0.07) | (0.15) | (0.10) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.72) | 5.10 | 0.04 | (11.35) | 6.30 | 5.72 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (0.73) | 5.11 | 0.05 | (11.42) | 6.15 | 5.62 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.01) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $17.08 | $17.82 | $12.71 | $12.66 | $24.08 | $17.93 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | (4.18)% | 40.28% | 0.39% | (47.43)% | 34.30% | 45.65% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $306594 | $275639 | $246642 | $260565 | $314476 | $18340 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $291191 | $271929 | $268848 | $302211 | $121398 | $14144 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.98 %<sup>(d)</sup> | 0.98% | 0.98% | 0.98% | 1.01% | 1.20% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.05 %<sup>(d)</sup> | 1.04% | 1.06% | 1.05% | 1.16% | 1.80% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.10)%<sup>(d)</sup> | 0.08% | 0.09% | (0.40)% | (0.62)% | (0.74)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup>  | 67% | 70% | 103% | 134% | 78% | 58% |

---

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

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

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

(d) Annualized.

(e) 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 Emerging Markets Equity Opportunities Fund 15 |

---

------

PGIM Jennison Global Infrastructure Fund

Schedule of Investments (unaudited)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 98.8%** |  |  |
| &nbsp;&nbsp; **COMMON STOCKS** |  |  |
| &nbsp;&nbsp; **Australia 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transurban Group, UTS | 134863 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215301 |
| &nbsp;&nbsp; **Belgium 5.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Elia Group SA/NV | 21913 | 2375798 |
| &nbsp;&nbsp; **Canada 3.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Kansas City Ltd. | 7765 | 563985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Bow Corp. | 9241 | 228243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TC Energy Corp. | 15788 | 797645 |
|  |  | 1589873 |
| &nbsp;&nbsp; **France 2.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Getlink SE | 21683 | 411722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vinci SA | 4242 | 595862 |
|  |  | 1007584 |
| &nbsp;&nbsp; **Germany 5.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E.ON SE | 100676 | 1760782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fraport AG Frankfurt Airport Services Worldwide\* | 8915 | 590811 |
|  |  | 2351593 |
| &nbsp;&nbsp; **India 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Power Grid Corp. of India Ltd. | 137342 | 498818 |
| &nbsp;&nbsp; **Italy 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enav SpA, 144A | 80328 | 355707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enel SpA | 122666 | 1063388 |
|  |  | 1419095 |
| &nbsp;&nbsp; **Japan 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tokyo Metro Co. Ltd. | 67509 | 855409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West Japan Railway Co. | 17254 | 362955 |
|  |  | 1218364 |
| &nbsp;&nbsp; **Mexico 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Pacifico SAB de CV (Class B Stock) | 52745 | 1068805 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 16 |

---

------

PGIM Jennison Global Infrastructure Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
|  **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Spain 6.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aena SME SA, 144A | 6161 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sacyr SA | 327377 | 1200864 |
|  |  | 2748605 |
| &nbsp;&nbsp; **Switzerland 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flughafen Zurich AG | 1929 | 486074 |
| &nbsp;&nbsp; **United Kingdom 11.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Grid PLC | 161793 | 2335337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pennon Group PLC | 200586 | 1342790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SSE PLC | 53717 | 1211107 |
|  |  | 4889234 |
| &nbsp;&nbsp; **United States 51.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ameren Corp. | 8861 | 879366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp., REIT | 5867 | 1322480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atmos Energy Corp.(a) | 5859 | 941131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. | 29324 | 1137185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. | 4110 | 949862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp. | 6152 | 453095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Constellation Energy Corp. | 2131 | 476151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc., REIT | 4221 | 446413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc., REIT | 1480 | 237599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DT Midstream, Inc. | 2338 | 227254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entergy Corp. | 11762 | 978246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc., REIT | 259 | 222934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp. | 23646 | 1108997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ferrovial SE | 37480 | 1828367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 26787 | 704498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. | 22880 | 1530214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. | 26303 | 1028710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 2413 | 540633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PG&E Corp. | 31053 | 512996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PPL Corp. | 12865 | 469573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. | 8146 | 651110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sempra | 3339 | 247988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Southern Co. (The) | 21806 | 2003753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Targa Resources Corp. | 2766 | 472709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp. | 2996 | 646117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp. | 3845 | 498427 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Infrastructure Fund 17 |

---

------

PGIM Jennison Global Infrastructure Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **United States (cont'd.)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waste Connections, Inc. | 4407 | $870955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Williams Cos., Inc. (The) | 20815 | 1219135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | 6351 | 449016 |
|  |  | 23054914 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS**<br>(cost $33,973,241) |  | 43924058 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 3.5%** |  |  |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)(wb) | 645949 | 645949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<br>(cost $911,639; includes $895,910 of cash collateral for securities on loan)(b)(wb) | 912370 | 911731 |
| &nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS**<br>(cost $1,557,588) |  | 1557680 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 102.3%**<br>(cost $35,530,829) |  | 45481738 |
| &nbsp;&nbsp; Liabilities in excess of other assets (2.3)% |  | (1037625) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44444113 |

---

See the Glossary for a list of the abbreviation(s) used in the semiannual report.

\* 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 $883,465; cash collateral of $895,910 (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.

---

| |
|:---|
| See Notes to Financial Statements. |
| 18 |

---

------

PGIM Jennison Global Infrastructure Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

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 April 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; Australia | $— | $1215301 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Belgium |  | 2375798 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 1589873 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; France |  | 1007584 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany |  | 2351593 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; India |  | 498818 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy |  | 1419095 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan |  | 1218364 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico | 1068805 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain |  | 2748605 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland |  | 486074 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom |  | 4889234 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 21226547 | 1828367 |  |
|  **Short-Term Investments** |  |  |  |
|  Affiliated Mutual Funds | 1557680 |  |  |
|  **Total** | $**25442905** | $**20038833** | **$—** |

---

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

---

| | |
|:---|:---|
|  Electric Utilities | 28.5 |
|  Multi-Utilities | 19.3 |
|  Transportation Infrastructure | 12.7 |
|  Oil, Gas & Consumable Fuels | 10.3 |
|  Construction & Engineering | 8.2 |
|  Ground Transportation | 6.6 |
|  Specialized REITs | 5.0 |
|  Affiliated Mutual Funds (2.0% represents investments purchased with collateral from securities on loan) | 3.5 |
|  Water Utilities | 3.0 |

---

---

| | |
|:---|:---|
|  Gas Utilities | 2.1% |
|  Commercial Services & Supplies | 2.0 |
|  Independent Power & Renewable Electricity Producers | 1.1 |
|  | 102.3 |
|  Liabilities in excess of other assets | (2.3) |
|  | 100.0% |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Infrastructure Fund 19 |

---

------

PGIM Jennison Global Infrastructure Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

#### 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**<br> **Value of**<br> **Recognized<br> Assets/(Liabilities)**  | **Collateral<br> Pledged/(Received)(1)** | **Net <br>Amount** |
|  Securities on Loan | $883465 | $(883465) | $— |

---

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

---

| |
|:---|
| See Notes to Financial Statements. |
| 20 |

---

------

PGIM Jennison Global Infrastructure Fund

Statement of Assets & Liabilities (unaudited)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value, including securities on loan of $883,465: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $33,973,241) | $43924058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $1,557,588) | 1557680 |
| &nbsp;&nbsp; Foreign currency, at value (cost $8,138) | 8185 |
| &nbsp;&nbsp; Tax reclaim receivable | 70101 |
| &nbsp;&nbsp; Dividends receivable | 59132 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 30647 |
| &nbsp;&nbsp; Foreign capital gains tax benefit accrued | 8514 |
| &nbsp;&nbsp; Prepaid expenses and other assets | 691 |
| &nbsp;&nbsp; **Total Assets** | 45659008 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Payable to broker for collateral for securities on loan | 895910 |
| &nbsp;&nbsp; Payable for investments purchased | 132142 |
| &nbsp;&nbsp; Payable for Fund shares purchased | 84039 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 56203 |
| &nbsp;&nbsp; Custodian and accounting fees payable | 22765 |
| &nbsp;&nbsp; Management fee payable | 18220 |
| &nbsp;&nbsp; Distribution fee payable | 3718 |
| &nbsp;&nbsp; Affiliated transfer agent fee payable | 1222 |
| &nbsp;&nbsp; Directors' fees payable | 676 |
| &nbsp;&nbsp; **Total Liabilities** | 1214895 |
| &nbsp;&nbsp; **Net Assets** | $44444113 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 32687794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 11756293 |
| &nbsp;&nbsp; **Net assets, April 30, 2025** | $44444113 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Infrastructure Fund 21 |

---

------

PGIM Jennison Global Infrastructure Fund

Statement of Assets & Liabilities (unaudited) (continued)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp; Net asset value and redemption price per share,<br> ($11,323,820 ÷ 655,858 shares of common stock issued and outstanding) | $17.27 |
| &nbsp;&nbsp; Maximum sales charge (5.50% of offering price) | 1.01 |
| &nbsp;&nbsp; Maximum offering price to public | $18.28 |
| &nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($1,810,212 ÷ 107,181 shares of common stock issued and outstanding) | $16.89 |
| &nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($20,314,221 ÷ 1,175,102 shares of common stock issued and outstanding) | $17.29 |
| &nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($10,995,860 ÷ 636,165 shares of common stock issued and outstanding) | $17.28 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 22 |

---

------

PGIM Jennison Global Infrastructure Fund

Statement of Operations (unaudited)

Six Months Ended April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** |  |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Unaffiliated dividend income (net of $35,886 foreign withholding tax) | $649938 |
| &nbsp;&nbsp; Affiliated dividend income | 18513 |
| &nbsp;&nbsp; Income from securities lending, net (including affiliated income of $3,990) | 4029 |
| &nbsp;&nbsp; **Total income** | 672480 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 227092 |
| &nbsp;&nbsp; Distribution fee(a) | 25771 |
| &nbsp;&nbsp; Custodian and accounting fees | 27882 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $5,103)(a) | 25639 |
| &nbsp;&nbsp; Professional fees | 24159 |
| &nbsp;&nbsp; Registration fees(a) | 21412 |
| &nbsp;&nbsp; Audit fee | 15498 |
| &nbsp;&nbsp; Shareholders' reports | 11040 |
| &nbsp;&nbsp; Directors' fees | 4963 |
| &nbsp;&nbsp; Miscellaneous | 12087 |
| &nbsp;&nbsp; **Total expenses** | 395543 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (98523) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distribution fee waiver(a) | (2709) |
| &nbsp;&nbsp; **Net expenses** | 294311 |
| &nbsp;&nbsp; Net investment income (loss) | 378169 |
| &nbsp;&nbsp; **Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions** |  |
| &nbsp;&nbsp; Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment transactions (including affiliated of $38) | 2200690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | (8322) |
|  | 2192368 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (including affiliated of $92) (net of change in foreign capital gains taxes $10,603) | (65754) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 5133 |
|  | (60621) |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | 2131747 |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $2509916 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class Z** | **Class R6** |
|  Distribution fee | 16256 | 9515 |  |  |
|  Transfer agent's fees and expenses | 8117 | 1503 | 15790 | 229 |
|  Registration fees | 6081 | 4024 | 7705 | 3602 |
|  Fee waiver and/or expense reimbursement | (23382) | (7136) | (49329) | (18676) |
|  Distribution fee waiver | (2709) |  |  |  |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Infrastructure Fund 23 |

---

------

PGIM Jennison Global Infrastructure Fund

Statements of Changes in Net Assets (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended<br>April 30, 2025** | **Year Ended<br>October 31, 2024** |
| &nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $378169 | $548600 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | 2192368 | 3197189 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | (60621) | 5953382 |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 2509916 | 9699171 |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp; Class A | (483225) | (116505) |
| &nbsp;&nbsp; Class C | (82340) | (10822) |
| &nbsp;&nbsp; Class Z | (966847) | (246236) |
| &nbsp;&nbsp; Class R6 | (545740) | (160554) |
|  | (2078152) | (534117) |
| &nbsp;&nbsp; **Fund share transactions (Net of share conversions)** |  |  |
| &nbsp;&nbsp; Net proceeds from shares sold | 5021824 | 16463677 |
| &nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 2071150 | 528760 |
| &nbsp;&nbsp; Cost of shares purchased | (9744672) | (15181857) |
| &nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | (2651698) | 1810580 |
| &nbsp;&nbsp; Total increase (decrease) | (2219934) | 10975634 |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 46664047 | 35688413 |
| &nbsp;&nbsp; End of period | $44444113 | $46664047 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 24 |

---

------

PGIM Jennison Global Infrastructure Fund

Financial Highlights (unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class A Shares** |  |  |  |  |  |  |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $17.07 | $13.50 | $14.41 | $17.15 | $13.80 | $14.66 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.12 | 0.19 | 0.23 | 0.14 | 0.09 | 0.14 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.83 | 3.56 | (0.62) | (1.64) | 3.36 | (0.86) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.95 | 3.75 | (0.39) | (1.50) | 3.45 | (0.72) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.08) | (0.18) | (0.26) | (0.14) | (0.10) | (0.12) |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  |  |  | (0.02) |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.67) | - <sup>(b)</sup> | (0.26) | (1.10) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.75) | (0.18) | (0.52) | (1.24) | (0.10) | (0.14) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $17.27 | $17.07 | $13.50 | $14.41 | $17.15 | $13.80 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 5.90% | 27.88% | (2.90)% | (9.23)% | 25.04% | (4.93)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $11324 | $10755 | $9080 | $8806 | $8153 | $5961 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $10927 | $10196 | $9748 | $8278 | $7154 | $6859 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.50 %<sup>(e)</sup> | 1.51 %<sup>(f)</sup> | 1.52 %<sup>(f)</sup> | 1.50% | 1.50% | 1.50% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.98 %<sup>(e)</sup> | 2.08% | 1.95% | 1.90% | 1.99% | 2.20% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 1.47 %<sup>(e)</sup> | 1.23% | 1.56% | 0.92% | 0.55% | 0.95% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup>  | 49% | 80% | 84% | 89% | 72% | 62% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

(f) Includes interest expense on borrowings from the Syndicated Credit Agreement and certain non-recurring expenses of 0.01% and 0.02%, respectively, which are being excluded from the Fund's contractual waiver, if applicable, for the the years ended October 31, 2024 and 2023, respectively.

(g) 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 Global Infrastructure Fund 25 |

---

------

PGIM Jennison Global Infrastructure Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class C Shares** |  |  |  |  |  |  |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $16.72 | $13.24 | $14.16 | $16.90 | $13.63 | $14.51 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.06 | 0.07 | 0.12 | 0.04 | (0.03)<sup>(b)</sup> | 0.03 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.80 | 3.50 | (0.60) | (1.63) | 3.31 | (0.84) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.86 | 3.57 | (0.48) | (1.59) | 3.28 | (0.81) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.02) | (0.09) | (0.18) | (0.05) | (0.01) | (0.05) |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  |  |  | (0.02) |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.67) | - <sup>(c)</sup> | (0.26) | (1.10) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.69) | (0.09) | (0.44) | (1.15) | (0.01) | (0.07) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $16.89 | $16.72 | $13.24 | $14.16 | $16.90 | $13.63 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 5.45% | 26.97% | (3.59)% | (9.91)% | 24.10% | (5.63)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $1810 | $2020 | $2332 | $3737 | $4336 | $3242 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $1919 | $2074 | $2977 | $4348 | $3720 | $3771 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 2.25 %<sup>(f)</sup> | 2.26 %<sup>(g)</sup> | 2.26 %<sup>(g)</sup> | 2.25% | 2.25% | 2.25% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 3.00 %<sup>(f)</sup> | 3.05% | 2.73% | 2.60% | 2.79% | 3.05% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.71 %<sup>(f)</sup> | 0.49% | 0.85% | 0.27% | (0.21)% | 0.21% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(h)</sup>  | 49% | 80% | 84% | 89% | 72% | 62% |

---

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

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

(c) Amount rounds to zero.

(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 period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

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

(f) Annualized.

(g) Includes interest expense on borrowings from the Syndicated Credit Agreement and certain non-recurring expenses of 0.01% and 0.01%, respectively, which are being excluded from the Fund's contractual waiver, if applicable, for the the years ended October 31, 2024 and 2023, respectively.

(h) 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. |
| 26 |

---

------

PGIM Jennison Global Infrastructure Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class Z Shares** |  |  |  |  |  |  |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $17.09 | $13.52 | $14.42 | $17.16 | $13.80 | $14.66 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.15 | 0.24 | 0.29 | 0.20 | 0.14 | 0.18 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.83 | 3.56 | (0.63) | (1.65) | 3.37 | (0.85) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.98 | 3.80 | (0.34) | (1.45) | 3.51 | (0.67) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.11) | (0.23) | (0.30) | (0.19) | (0.15) | (0.17) |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  |  |  | (0.02) |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.67) | - <sup>(b)</sup> | (0.26) | (1.10) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.78) | (0.23) | (0.56) | (1.29) | (0.15) | (0.19) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $17.29 | $17.09 | $13.52 | $14.42 | $17.16 | $13.80 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 6.07% | 28.25% | (2.57)% | (8.93)% | 25.42% | (4.56)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $20314 | $20973 | $14385 | $26049 | $25429 | $20148 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $20919 | $16865 | $27102 | $27109 | $24462 | $21048 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.17 %<sup>(e)</sup> | 1.17% | 1.18 %<sup>(f)</sup> | 1.17% | 1.17% | 1.17% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.65 %<sup>(e)</sup> | 1.73% | 1.53% | 1.47% | 1.55% | 1.66% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 1.79 %<sup>(e)</sup> | 1.55% | 1.98% | 1.29% | 0.92% | 1.25% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup>  | 49% | 80% | 84% | 89% | 72% | 62% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

(f) Includes interest expense on borrowings from the Syndicated Credit Agreement and certain non-recurring expenses of 0.01% which are being excluded from the Fund's contractual waiver, if applicable, for the year ended October 31, 2023.

(g) 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 Global Infrastructure Fund 27 |

---

------

PGIM Jennison Global Infrastructure Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R6 Shares** |  |  |  |  |  |  |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<br> **Year Ended October 31,** |
|  | **Six Months**<br> **Ended**<br> **April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $17.09 | $13.51 | $14.41 | $17.15 | $13.80 | $14.66 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.15 | 0.23 | 0.29 | 0.21 | 0.12 | 0.18 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.82 | 3.58 | (0.63) | (1.66) | 3.38 | (0.85) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.97 | 3.81 | (0.34) | (1.45) | 3.50 | (0.67) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.11) | (0.23) | (0.30) | (0.19) | (0.15) | (0.17) |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  |  |  | (0.02) |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains | (0.67) | - <sup>(b)</sup> | (0.26) | (1.10) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.78) | (0.23) | (0.56) | (1.29) | (0.15) | (0.19) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $17.28 | $17.09 | $13.51 | $14.41 | $17.15 | $13.80 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 6.01% | 28.34% | (2.58)% | (8.93)% | 25.44% | (4.62)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $10996 | $12916 | $9892 | $25919 | $17263 | $5636 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $12029 | $10164 | $15166 | $23177 | $11389 | $8565 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.17 %<sup>(e)</sup> | 1.17% | 1.18 %<sup>(f)</sup> | 1.17% | 1.17% | 1.17% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.48 %<sup>(e)</sup> | 1.56% | 1.39% | 1.32% | 1.40% | 1.66% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 1.77 %<sup>(e)</sup> | 1.49% | 1.97% | 1.34% | 0.74% | 1.28% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup>  | 49% | 80% | 84% | 89% | 72% | 62% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

(f) Includes interest expense on borrowings from the Syndicated Credit Agreement and certain non-recurring expenses of 0.01% which are being excluded from the Fund's contractual waiver, if applicable, for the year ended October 31, 2023.

(g) 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. |
| 28 |

---

------

PGIM Jennison Global Opportunities Fund

Schedule of Investments (unaudited)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 95.4%** | &nbsp;&nbsp; **LONG-TERM INVESTMENTS 95.4%** | &nbsp;&nbsp; **LONG-TERM INVESTMENTS 95.4%** |
| &nbsp;&nbsp; **COMMON STOCKS** | &nbsp;&nbsp; **COMMON STOCKS** | &nbsp;&nbsp; **COMMON STOCKS** |
| &nbsp;&nbsp; **Belgium 1.1%** | &nbsp;&nbsp; **Belgium 1.1%** | &nbsp;&nbsp; **Belgium 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UCB SA | 349382 | $64055403 |
| &nbsp;&nbsp; **Brazil 5.4%** | &nbsp;&nbsp; **Brazil 5.4%** | &nbsp;&nbsp; **Brazil 5.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.\* | 107268 | 250025618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NU Holdings Ltd. (Class A Stock)\* | 6026480 | 74909146 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324934764 |
| &nbsp;&nbsp; **Canada 1.0%** | &nbsp;&nbsp; **Canada 1.0%** | &nbsp;&nbsp; **Canada 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shopify, Inc. (Class A Stock)\* | 646181 | 61387195 |
| &nbsp;&nbsp; **China 8.1%** | &nbsp;&nbsp; **China 8.1%** | &nbsp;&nbsp; **China 8.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BYD Co. Ltd. (Class H Stock) | 5205442 | 247238952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xiaomi Corp. (Class B Stock), 144A\* | 38444172 | 246127450 |
|  |  | 493366402 |
| &nbsp;&nbsp; **France 8.1%** | &nbsp;&nbsp; **France 8.1%** | &nbsp;&nbsp; **France 8.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hermes International SCA | 112904 | 310506207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; L'Oreal SA | 411808 | 181963728 |
|  |  | 492469935 |
| &nbsp;&nbsp; **India 0.8%** | &nbsp;&nbsp; **India 0.8%** | &nbsp;&nbsp; **India 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eternal Ltd.\* | 18209354 | 49838757 |
| &nbsp;&nbsp; **Italy 4.4%** | &nbsp;&nbsp; **Italy 4.4%** | &nbsp;&nbsp; **Italy 4.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ferrari NV | 353160 | 161669777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moncler SpA | 1716967 | 105972706 |
|  |  | 267642483 |
| &nbsp;&nbsp; **Singapore 1.2%** | &nbsp;&nbsp; **Singapore 1.2%** | &nbsp;&nbsp; **Singapore 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sea Ltd., ADR\* | 537710 | 72080026 |
| &nbsp;&nbsp; **Spain 2.9%** | &nbsp;&nbsp; **Spain 2.9%** | &nbsp;&nbsp; **Spain 2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA(a) | 3295674 | 177224748 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Opportunities Fund 29 |

---

------

PGIM Jennison Global Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Switzerland 4.4%** | &nbsp;&nbsp; **Switzerland 4.4%** | &nbsp;&nbsp; **Switzerland 4.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA (Class A Stock) | 625977 | $110613402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galderma Group AG | 1346463 | 156385888 |
|  |  | 266999290 |
| &nbsp;&nbsp; **Taiwan 1.0%** | &nbsp;&nbsp; **Taiwan 1.0%** | &nbsp;&nbsp; **Taiwan 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 342387 | 57072489 |
| &nbsp;&nbsp; **United States 57.0%** | &nbsp;&nbsp; **United States 57.0%** | &nbsp;&nbsp; **United States 57.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.\* | 762744 | 140665248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. | 1146803 | 243695637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AppLovin Corp. (Class A Stock)\* | 236856 | 63787689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.\* | 465624 | 138634890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cava Group, Inc.\* | 895561 | 82776703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 184817 | 183800506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc. (Class A Stock)\* | 533714 | 228893923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software Ltd.\* | 295360 | 104013978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 236932 | 212990021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac Corp.\* | 43111 | 85777094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.\* | 176417 | 90995889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. (Class A Stock) | 433720 | 238112280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. | 532430 | 210448282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.\* | 368013 | 416487672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. | 818930 | 89197856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.\* | 112235 | 158834972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 177269 | 51884864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reddit, Inc. (Class A Stock)\*(a) | 496351 | 57859636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samsara, Inc. (Class A Stock)\* | 1839372 | 72949494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.\*(a) | 107687 | 102842162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Snowflake, Inc. (Class A Stock)\* | 539610 | 86062399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotify Technology SA\* | 391808 | 240562276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.\* | 320425 | 163256538 |
|  |  | 3464530009 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $4,383,680,328) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5791601501 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 9.0%** | &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 9.0%** | &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 9.0%** |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)(wb) | 287244817 | 287244817 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 30 |

---

------

PGIM Jennison Global Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS (Continued)** | &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS (Continued)** | &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cost $259,921,197; includes $259,687,914 of cash collateral for securities on loan)(b)(wb) | 260127407 | $259945318 |
| &nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $547,166,014) |  | 547190135 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 104.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $4,930,846,342) |  | 6338791636 |
| &nbsp;&nbsp; Liabilities in excess of other assets (4.4)% |  | (264863151) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6073928485 |

---

See the Glossary for a list of the abbreviation(s) used in the semiannual report.

\* 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 $248,047,259; cash collateral of $259,687,914 (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 April 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; Belgium | $— | $64055403 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 324934764 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 61387195 |  |  |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Opportunities Fund 31 |

---

------

PGIM Jennison Global Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 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; China | $— | $493366402 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; France |  | 492469935 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; India |  | 49838757 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy |  | 267642483 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | 72080026 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain |  | 177224748 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland |  | 266999290 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | 57072489 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 3464530009 |  |  |
|  **Short-Term Investments** |  |  |  |
|  Affiliated Mutual Funds | 547190135 |  |  |
|  **Total** | $**4527194618** | $**1811597018** | **$—** |

---

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

---

| | |
|:---|:---|
|  Software | 16.6 |
|  Entertainment | 12.1 |
|  Affiliated Mutual Funds (4.3% represents investments purchased with collateral from securities on loan) | 9.0 |
|  Textiles, Apparel & Luxury Goods | 8.6 |
|  Technology Hardware, Storage & Peripherals | 8.0 |
|  Pharmaceuticals | 7.2 |
|  Automobiles | 6.8 |
|  Broadline Retail | 6.4 |
|  Specialty Retail | 5.5 |
|  Interactive Media & Services | 4.8 |
|  Consumer Staples Distribution & Retail | 3.0 |
|  Personal Care Products | 3.0 |

---

---

| | |
|:---|:---|
|  Biotechnology | 2.7% |
|  Semiconductors & Semiconductor Equipment | 2.5 |
|  IT Services | 2.4 |
|  Hotels, Restaurants & Leisure | 2.2 |
|  Health Care Equipment & Supplies | 1.5 |
|  Banks | 1.3 |
|  Construction & Engineering | 0.8 |
|  | 104.4 |
|  Liabilities in excess of other assets | (4.4) |
|  | 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.

---

| |
|:---|
| See Notes to Financial Statements. |
| 32 |

---

------

PGIM Jennison Global Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

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

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Gross Market**<br> **Value of**<br> **Recognized**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets/(Liabilities)**  | **Collateral**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pledged/(Received)(1)**  | **Net**<br> **Amount**  |
|  Securities on Loan | $248047259 | $(248047259) | $— |

---

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

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Opportunities Fund 33 |

---

------

PGIM Jennison Global Opportunities Fund

Statement of Assets & Liabilities (unaudited)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value, including securities on loan of $248,047,259: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $4,383,680,328) | $5791601501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $547,166,014) | 547190135 |
| &nbsp;&nbsp; Foreign currency, at value (cost $135,697) | 135512 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 7690826 |
| &nbsp;&nbsp; Tax reclaim receivable | 6179006 |
| &nbsp;&nbsp; Dividends receivable | 3567186 |
| &nbsp;&nbsp; Foreign capital gains tax benefit accrued | 46190 |
| &nbsp;&nbsp; Prepaid expenses and other assets | 85519 |
| &nbsp;&nbsp; **Total Assets** | 6356495875 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Payable to broker for collateral for securities on loan | 259687914 |
| &nbsp;&nbsp; Payable for Fund shares purchased | 13085868 |
| &nbsp;&nbsp; Payable for investments purchased | 4801264 |
| &nbsp;&nbsp; Management fee payable | 3700577 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 950160 |
| &nbsp;&nbsp; Distribution fee payable | 308594 |
| &nbsp;&nbsp; Affiliated transfer agent fee payable | 23243 |
| &nbsp;&nbsp; Directors' fees payable | 9770 |
| &nbsp;&nbsp; **Total Liabilities** | 282567390 |
| &nbsp;&nbsp; **Net Assets** | $6073928485 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $1423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 4044562507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 2029364555 |
| &nbsp;&nbsp; **Net assets, April 30, 2025** | $6073928485 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 34 |

---

------

PGIM Jennison Global Opportunities Fund

Statement of Assets & Liabilities (unaudited) (continued)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp; Net asset value and redemption price per share,<br> ($605,637,223 ÷ 14,535,634 shares of common stock issued and outstanding) | $41.67 |
| &nbsp;&nbsp; Maximum sales charge (5.50% of offering price) | 2.43 |
| &nbsp;&nbsp; Maximum offering price to public | $44.10 |
| &nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($244,256,227 ÷ 6,619,479 shares of common stock issued and outstanding) | $36.90 |
| &nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($2,858,195,858 ÷ 66,578,792 shares of common stock issued and outstanding) | $42.93 |
| &nbsp;&nbsp; **Class R2** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($15,968,953 ÷ 380,934 shares of common stock issued and outstanding) | $41.92 |
| &nbsp;&nbsp; **Class R4** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($597,252 ÷ 13,989 shares of common stock issued and outstanding) | $42.69 |
| &nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($2,349,272,972 ÷ 54,122,967 shares of common stock issued and outstanding) | $43.41 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Opportunities Fund 35 |

---

------

PGIM Jennison Global Opportunities Fund

Statement of Operations (unaudited)

Six Months Ended April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** |  |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Unaffiliated dividend income | $13567682 |
| &nbsp;&nbsp; Affiliated dividend income | 4173029 |
| &nbsp;&nbsp; Affiliated income from securities lending, net | 88116 |
| &nbsp;&nbsp; **Total income** | 17828827 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 26188370 |
| &nbsp;&nbsp; Distribution fee(a) | 2344038 |
| &nbsp;&nbsp; Shareholder servicing fees(a) | 8826 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $88,305)(a) | 2183688 |
| &nbsp;&nbsp; Custodian and accounting fees | 231805 |
| &nbsp;&nbsp; Shareholders' reports | 179107 |
| &nbsp;&nbsp; Registration fees(a) | 95336 |
| &nbsp;&nbsp; Directors' fees | 53693 |
| &nbsp;&nbsp; Professional fees | 49630 |
| &nbsp;&nbsp; Audit fee | 14963 |
| &nbsp;&nbsp; Miscellaneous | 59372 |
| &nbsp;&nbsp; **Total expenses** | 31408828 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (251950) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distribution fee waiver(a) | (159551) |
| &nbsp;&nbsp; **Net expenses** | 30997327 |
| &nbsp;&nbsp; Net investment income (loss) | (13168500) |
| &nbsp;&nbsp; **Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions** |  |
| &nbsp;&nbsp; Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment transactions (including affiliated of $(4311)) (net of foreign capital gains taxes $(32266)) | 680158291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | (1473169) |
|  | 678685122 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (including affiliated of $23,619) (net of change in foreign capital gains taxes $46,190) | (1027296787) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 219903 |
|  | (1027076884) |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | (348391762) |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $(361560262) |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 36 |

---

------

PGIM Jennison Global Opportunities Fund

Statement of Operations (unaudited) (continued)

Six Months Ended April 30, 2025

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class Z** | **Class R2** | **Class R4** | **Class R6** |
|  Distribution fee | 957306 | 1365423 |  | 21309 |  |  |
|  Shareholder servicing fees |  |  |  | 8524 | 302 |  |
|  Transfer agent's fees and expenses | 270335 | 135574 | 1710172 | 13826 | 463 | 53318 |
|  Registration fees | 17482 | 9899 | 33004 | 3688 | 3254 | 28009 |
|  Fee waiver and/or expense reimbursement | (245997) |  |  | (2758) | (3195) |  |
|  Distribution fee waiver | (159551) |  |  |  |  |  |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Opportunities Fund 37 |

---

------

PGIM Jennison Global Opportunities Fund

Statements of Changes in Net Assets (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended<br>April 30, 2025** | **Year Ended<br>October 31, 2024** |
| &nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $(13168500) | $(18912537) |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | 678685122 | 919433445 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | (1027076884) | 1106862457 |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | (361560262) | 2007383365 |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp; Class A | (34099553) |  |
| &nbsp;&nbsp; Class C | (16790096) |  |
| &nbsp;&nbsp; Class Z | (161388437) |  |
| &nbsp;&nbsp; Class R2 | (902989) |  |
| &nbsp;&nbsp; Class R4 | (30299) |  |
| &nbsp;&nbsp; Class R6 | (131214991) |  |
|  | (344426365) |  |
| &nbsp;&nbsp; **Fund share transactions (Net of share conversions)** |  |  |
| &nbsp;&nbsp; Net proceeds from shares sold | 755506842 | 1306357953 |
| &nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 340260316 |  |
| &nbsp;&nbsp; Cost of shares purchased | (1081513491) | (1640810176) |
| &nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | 14253667 | (334452223) |
| &nbsp;&nbsp; Total increase (decrease) | (691732960) | 1672931142 |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 6765661445 | 5092730303 |
| &nbsp;&nbsp; End of period | $6073928485 | $6765661445 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 38 |

---

------

PGIM Jennison Global Opportunities Fund

Financial Highlights (unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class A Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $46.35 | $33.16 | $27.60 | $52.15 | $38.50 | $24.58 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.12) | (0.19) | (0.11) | (0.19) | (0.37) | (0.22) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (2.14) | 13.38 | 5.67 | (19.72) | 14.76 | 14.14 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (2.26) | 13.19 | 5.56 | (19.91) | 14.39 | 13.92 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  | (-)<sup>(b)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Total dividends and distributions | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $41.67 | $46.35 | $33.16 | $27.60 | $52.15 | $38.50 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | (5.40)% | 39.82% | 20.11% | (41.69)% | 37.75% | 56.63% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $605637 | $659076 | $464837 | $428097 | $797091 | $494173 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $643493 | $610917 | $462385 | $568379 | $684569 | $344283 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.08 %<sup>(e)</sup> | 1.08% | 1.08% | 1.08% | 1.08% | 1.08% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.21 %<sup>(e)</sup> | 1.20% | 1.22% | 1.22% | 1.21% | 1.24% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.53)%<sup>(e)</sup> | (0.43)% | (0.34)% | (0.53)% | (0.80)% | (0.69)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup>  | 75% | 66% | 75% | 84% | 62% | 57% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

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

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Opportunities Fund 39 |

---

------

PGIM Jennison Global Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class C Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $41.48 | $29.92 | $25.12 | $48.27 | $35.98 | $23.16 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.27) | (0.49) | (0.34) | (0.45) | (0.70) | (0.45) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (1.89) | 12.05 | 5.14 | (18.06) | 13.73 | 13.27 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (2.16) | 11.56 | 4.80 | (18.51) | 13.03 | 12.82 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  | (-)<sup>(b)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Total dividends and distributions | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $36.90 | $41.48 | $29.92 | $25.12 | $48.27 | $35.98 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | (5.81)% | 38.64% | 19.11% | (42.19)% | 36.63% | 55.31% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $244256 | $291287 | $245621 | $238329 | $496435 | $364557 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $275348 | $290799 | $250937 | $333018 | $449870 | $279272 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.92 %<sup>(e)</sup> | 1.91% | 1.94% | 1.93% | 1.91% | 1.93% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.92 %<sup>(e)</sup> | 1.91% | 1.94% | 1.93% | 1.91% | 1.93% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (1.38)%<sup>(e)</sup> | (1.27)% | (1.19)% | (1.38)% | (1.62)% | (1.53)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup>  | 75% | 66% | 75% | 84% | 62% | 57% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

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

---

| |
|:---|
| See Notes to Financial Statements. |
| 40 |

---

------

PGIM Jennison Global Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class Z Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $47.65 | $34.03 | $28.29 | $53.25 | $39.24 | $25.01 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.09) | (0.12) | (0.06) | (0.14) | (0.30) | (0.17) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (2.21) | 13.74 | 5.80 | (20.18) | 15.05 | 14.40 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (2.30) | 13.62 | 5.74 | (20.32) | 14.75 | 14.23 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  | (-)<sup>(b)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Total dividends and distributions | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $42.93 | $47.65 | $34.03 | $28.29 | $53.25 | $39.24 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | (5.33)% | 40.02% | 20.29% | (41.59)% | 37.96% | 56.90% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $2858196 | $3168070 | $2250783 | $2073103 | $4792805 | $3390006 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $3109793 | $2964607 | $2168204 | $3132931 | $4303934 | $2338060 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.93 %<sup>(e)</sup> | 0.92% | 0.93% | 0.93% | 0.92% | 0.93% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.93 %<sup>(e)</sup> | 0.92% | 0.93% | 0.93% | 0.92% | 0.93% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.39)%<sup>(e)</sup> | (0.27)% | (0.19)% | (0.39)% | (0.64)% | (0.54)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup> | 75% | 66% | 75% | 84% | 62% | 57% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

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

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Opportunities Fund 41 |

---

------

PGIM Jennison Global Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R2 Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $46.68 | $33.48 | $27.94 | $52.86 | $39.10 | $25.02 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.18) | (0.30) | (0.19) | (0.28) | (0.48) | (0.31) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (2.16) | 13.50 | 5.73 | (20.00) | 14.98 | 14.39 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (2.34) | 13.20 | 5.54 | (20.28) | 14.50 | 14.08 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  | (-)<sup>(b)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Total dividends and distributions | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $41.92 | $46.68 | $33.48 | $27.94 | $52.86 | $39.10 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | (5.54)% | 39.47% | 19.79% | (41.85)% | 37.45% | 56.27% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $15969 | $17717 | $13341 | $11838 | $21615 | $377 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $17189 | $16640 | $13109 | $15315 | $12667 | $221 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.34 %<sup>(e)</sup> | 1.34% | 1.34% | 1.34% | 1.34% | 1.33% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.37 %<sup>(e)</sup> | 1.36% | 1.37% | 1.38% | 1.39% | 7.68% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.79)%<sup>(e)</sup> | (0.69)% | (0.60)% | (0.79)% | (1.00)% | (0.92)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup> | 75% | 66% | 75% | 84% | 62% | 57% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

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

---

| |
|:---|
| See Notes to Financial Statements. |
| 42 |

---

------

PGIM Jennison Global Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R4 Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $47.44 | $33.94 | $28.26 | $53.27 | $39.31 | $25.08 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.12) | (0.19) | (0.12) | (0.18) | (0.37) | (0.19) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (2.21) | 13.69 | 5.80 | (20.19) | 15.07 | 14.42 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (2.33) | 13.50 | 5.68 | (20.37) | 14.70 | 14.23 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  | (-)<sup>(b)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Total dividends and distributions | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $42.69 | $47.44 | $33.94 | $28.26 | $53.27 | $39.31 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | (5.42)% | 39.82% | 20.06% | (41.68)% | 37.76% | 56.74% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $597 | $622 | $402 | $310 | $332 | $505 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $610 | $551 | $375 | $318 | $696 | $433 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.09 %<sup>(e)</sup> | 1.08% | 1.09% | 1.09% | 1.06% | 1.02% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 2.15 %<sup>(e)</sup> | 2.34% | 2.48% | 3.42% | 2.18% | 4.28% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.54)%<sup>(e)</sup> | (0.44)% | (0.36)% | (0.51)% | (0.78)% | (0.60)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup>  | 75% | 66% | 75% | 84% | 62% | 57% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

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

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison Global Opportunities Fund 43 |

---

------

PGIM Jennison Global Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R6 Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $48.13 | $34.34 | $28.52 | $53.60 | $39.46 | $25.13 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.06) | (0.08) | (0.03) | (0.10) | (0.26) | (0.15) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (2.24) | 13.87 | 5.85 | (20.34) | 15.14 | 14.48 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | (2.30) | 13.79 | 5.82 | (20.44) | 14.88 | 14.33 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions |  |  |  | (-)<sup>(b)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Total dividends and distributions | (2.42) |  |  | (4.64) | (0.74) |  |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $43.41 | $48.13 | $34.34 | $28.52 | $53.60 | $39.46 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | (5.28)% | 40.16% | 20.41% | (41.54)% | 38.08% | 57.02% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $2349273 | $2628890 | $2117746 | $1776074 | $3301585 | $1803620 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $2563927 | $2518916 | $2002806 | $2401595 | $2690566 | $1074262 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.82 %<sup>(e)</sup> | 0.82% | 0.83% | 0.83% | 0.83% | 0.84% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.82 %<sup>(e)</sup> | 0.82% | 0.83% | 0.83% | 0.83% | 0.84% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.28)%<sup>(e)</sup> | (0.18)% | (0.10)% | (0.28)% | (0.54)% | (0.46)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup>  | 75% | 66% | 75% | 84% | 62% | 57% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

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

---

| |
|:---|
| See Notes to Financial Statements. |
| 44 |

---

------

PGIM Jennison International Opportunities Fund

Schedule of Investments (unaudited)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 93.7%** | &nbsp;&nbsp; **LONG-TERM INVESTMENTS 93.7%** | &nbsp;&nbsp; **LONG-TERM INVESTMENTS 93.7%** |
| &nbsp;&nbsp; **COMMON STOCKS 92.1%** | &nbsp;&nbsp; **COMMON STOCKS 92.1%** | &nbsp;&nbsp; **COMMON STOCKS 92.1%** |
| &nbsp;&nbsp; **Belgium 2.1%** | &nbsp;&nbsp; **Belgium 2.1%** | &nbsp;&nbsp; **Belgium 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UCB SA | 589844 | $108141504 |
| &nbsp;&nbsp; **Brazil 9.2%** | &nbsp;&nbsp; **Brazil 9.2%** | &nbsp;&nbsp; **Brazil 9.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Embraer SA, ADR\* | 2777567 | 127601428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.\* | 116863 | 272390123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NU Holdings Ltd. (Class A Stock)\*(a) | 5862466 | 72870452 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472862003 |
| &nbsp;&nbsp; **Canada 3.6%** | &nbsp;&nbsp; **Canada 3.6%** | &nbsp;&nbsp; **Canada 3.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Constellation Software, Inc. | 28583 | 103010553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shopify, Inc. (Class A Stock)\* | 859267 | 81630365 |
|  |  | 184640918 |
| &nbsp;&nbsp; **China 8.5%** | &nbsp;&nbsp; **China 8.5%** | &nbsp;&nbsp; **China 8.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BYD Co. Ltd. (Class H Stock) | 4572050 | 217155210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xiaomi Corp. (Class B Stock), 144A\* | 34012877 | 217757393 |
|  |  | 434912603 |
| &nbsp;&nbsp; **France 14.6%** | &nbsp;&nbsp; **France 14.6%** | &nbsp;&nbsp; **France 14.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EssilorLuxottica SA | 405497 | 116845130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hermes International SCA | 95256 | 261971048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; L'Oreal SA | 361822 | 159876642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Safran SA | 796053 | 211845292 |
|  |  | 750538112 |
| &nbsp;&nbsp; **Germany 9.6%** | &nbsp;&nbsp; **Germany 9.6%** | &nbsp;&nbsp; **Germany 9.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rheinmetall AG | 158108 | 269266251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAP SE | 771198 | 225643774 |
|  |  | 494910025 |
| &nbsp;&nbsp; **India 2.6%** | &nbsp;&nbsp; **India 2.6%** | &nbsp;&nbsp; **India 2.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eternal Ltd.\* | 22137292 | 60589470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MakeMyTrip Ltd.\* | 705543 | 73955017 |
|  |  | 134544487 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison International Opportunities Fund 45 |

---

------

PGIM Jennison International Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** |  |  |
| &nbsp;&nbsp; **Italy 7.7%** | &nbsp;&nbsp; **Italy 7.7%** | &nbsp;&nbsp; **Italy 7.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brunello Cucinelli SpA | 1369538 | $154620418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ferrari NV | 351535 | 160925884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moncler SpA | 1332793 | 82261150 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397807452 |
| &nbsp;&nbsp; **Japan 2.3%** | &nbsp;&nbsp; **Japan 2.3%** | &nbsp;&nbsp; **Japan 2.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Keyence Corp. | 276519 | 115610281 |
| &nbsp;&nbsp; **Netherlands 4.5%** | &nbsp;&nbsp; **Netherlands 4.5%** | &nbsp;&nbsp; **Netherlands 4.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Adyen NV, 144A\* | 62235 | 100709502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argenx SE\* | 201085 | 129991227 |
|  |  | 230700729 |
| &nbsp;&nbsp; **New Zealand 1.7%** | &nbsp;&nbsp; **New Zealand 1.7%** | &nbsp;&nbsp; **New Zealand 1.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xero Ltd.\* | 833816 | 87811746 |
| &nbsp;&nbsp; **Singapore 2.3%** | &nbsp;&nbsp; **Singapore 2.3%** | &nbsp;&nbsp; **Singapore 2.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sea Ltd., ADR\* | 887280 | 118939884 |
| &nbsp;&nbsp; **Spain 3.8%** | &nbsp;&nbsp; **Spain 3.8%** | &nbsp;&nbsp; **Spain 3.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA(a) | 3588764 | 192985652 |
| &nbsp;&nbsp; **Switzerland 3.9%** | &nbsp;&nbsp; **Switzerland 3.9%** | &nbsp;&nbsp; **Switzerland 3.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA (Class A Stock) | 632249 | 111721697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Galderma Group AG | 768105 | 89212093 |
|  |  | 200933790 |
| &nbsp;&nbsp; **Taiwan 2.9%** | &nbsp;&nbsp; **Taiwan 2.9%** | &nbsp;&nbsp; **Taiwan 2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 898578 | 149783967 |
| &nbsp;&nbsp; **United Kingdom 3.7%** | &nbsp;&nbsp; **United Kingdom 3.7%** | &nbsp;&nbsp; **United Kingdom 3.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compass Group PLC | 5559649 | 187442583 |
| &nbsp;&nbsp; **United States 9.1%** | &nbsp;&nbsp; **United States 9.1%** | &nbsp;&nbsp; **United States 9.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software Ltd.\* | 646482 | 227665101 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 46 |

---

------

PGIM Jennison International Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **United States (cont'd.)** | &nbsp;&nbsp; **United States (cont'd.)** | &nbsp;&nbsp; **United States (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric SE | 163463 | $38192441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotify Technology SA\* | 330095 | 202671728 |
|  |  | 468529270 |
| &nbsp;&nbsp; **TOTAL COMMON STOCKS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $3,371,478,967) |  | 4731095006 |
| &nbsp;&nbsp; **PREFERRED STOCK 1.6%** | &nbsp;&nbsp; **PREFERRED STOCK 1.6%** | &nbsp;&nbsp; **PREFERRED STOCK 1.6%** |
| &nbsp;&nbsp; **Germany** | &nbsp;&nbsp; **Germany** | &nbsp;&nbsp; **Germany** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sartorius AG (PRFC)(a) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cost $91,796,366) | 322776 | 83790888 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $3,463,275,333) |  | 4814885894 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 10.2%** | &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 10.2%** | &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 10.2%** |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)(wb) | 300989251 | 300989251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cost $224,860,076; includes $224,404,884 of cash collateral for securities on loan)(b)(wb) | 225038461 | 224880935 |
| &nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $525,849,327) |  | 525870186 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 103.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $3,989,124,660) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340756080 |
| &nbsp;&nbsp; Liabilities in excess of other assets (3.9)% |  | (201853386) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  | $5138902694 |

---

See the Glossary for a list of the abbreviation(s) used in the semiannual report.

\* 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 $214,944,800; cash collateral of $224,404,884 (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.

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison International Opportunities Fund 47 |

---

------

PGIM Jennison International Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

(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 April 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; Belgium | $— | $108141504 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 472862003 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 184640918 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; China |  | 434912603 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; France |  | 750538112 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany |  | 494910025 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; India | 73955017 | 60589470 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy |  | 397807452 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan |  | 115610281 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands |  | 230700729 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand |  | 87811746 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | 118939884 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain |  | 192985652 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland |  | 200933790 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | 149783967 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom |  | 187442583 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 430336829 | 38192441 |  |
|  Preferred Stock |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany |  | 83790888 |  |
|  **Short-Term Investments** |  |  |  |
|  Affiliated Mutual Funds | 525870186 |  |  |
|  **Total** | $**1956388804** | $**3384367276** | **$—** |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 48 |

---

------

PGIM Jennison International Opportunities Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

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

---

| | |
|:---|:---|
|  Software | 12.5 |
|  Textiles, Apparel & Luxury Goods | 11.9 |
|  Aerospace & Defense | 11.8 |
|  Affiliated Mutual Funds (4.4% represents investments purchased with collateral from securities on loan) | 10.2 |
|  Automobiles | 7.3 |
|  Hotels, Restaurants & Leisure | 6.3 |
|  Entertainment | 6.3 |
|  Broadline Retail | 5.3 |
|  Technology Hardware, Storage & Peripherals | 4.3 |
|  Pharmaceuticals | 3.8 |
|  Specialty Retail | 3.8 |
|  Personal Care Products | 3.1 |
|  Semiconductors & Semiconductor Equipment | 2.9 |

---

---

| | |
|:---|:---|
|  Biotechnology | 2.5% |
|  Health Care Equipment & Supplies | 2.3 |
|  Electronic Equipment, Instruments & Components | 2.3 |
|  Financial Services | 2.0 |
|  Life Sciences Tools & Services | 1.6 |
|  IT Services | 1.6 |
|  Banks | 1.4 |
|  Electrical Equipment | 0.7 |
|  | 103.9 |
|  Liabilities in excess of other assets | (3.9) |
|  | 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<br>Value of<br>Recognized<br>Assets/(Liabilities)** | **Collateral<br>Pledged/(Received)(1)** | **Net<br>Amount** |
|  Securities on Loan | $214944800 | $(214944800) | $— |

---

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

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison International Opportunities Fund 49 |

---

------

PGIM Jennison International Opportunities Fund

Statement of Assets & Liabilities (unaudited)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value, including securities on loan of $214,944,800: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $3,463,275,333) | $4814885894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $525,849,327) | 525870186 |
| &nbsp;&nbsp; Foreign currency, at value (cost $85,634) | 88714 |
| &nbsp;&nbsp; Receivable for investments sold | 32670144 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 7455236 |
| &nbsp;&nbsp; Tax reclaim receivable | 6389211 |
| &nbsp;&nbsp; Dividends receivable | 4070011 |
| &nbsp;&nbsp; Foreign capital gains tax benefit accrued | 159424 |
| &nbsp;&nbsp; Prepaid expenses and other assets | 53816 |
| &nbsp;&nbsp; **Total Assets** | 5391642636 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Payable to broker for collateral for securities on loan | 224404884 |
| &nbsp;&nbsp; Payable for investments purchased | 14153985 |
| &nbsp;&nbsp; Payable for Fund shares purchased | 9775727 |
| &nbsp;&nbsp; Management fee payable | 3048470 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 1200058 |
| &nbsp;&nbsp; Distribution fee payable | 129040 |
| &nbsp;&nbsp; Affiliated transfer agent fee payable | 23246 |
| &nbsp;&nbsp; Directors' fees payable | 4532 |
| &nbsp;&nbsp; **Total Liabilities** | 252739942 |
| &nbsp;&nbsp; **Net Assets** | $5138902694 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $1617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 4781019620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 357881457 |
| &nbsp;&nbsp; **Net assets, April 30, 2025** | $5138902694 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 50 |

---

------

PGIM Jennison International Opportunities Fund

Statement of Assets & Liabilities (unaudited) (continued)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp; Net asset value and redemption price per share,<br> ($128,790,854 ÷ 4,134,488 shares of common stock issued and outstanding) | $31.15 |
| &nbsp;&nbsp; Maximum sales charge (5.50% of offering price) | 1.81 |
| &nbsp;&nbsp; Maximum offering price to public | $32.96 |
| &nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($21,948,836 ÷ 779,539 shares of common stock issued and outstanding) | $28.16 |
| &nbsp;&nbsp; **Class R** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($217,117,377 ÷ 7,125,580 shares of common stock issued and outstanding) | $30.47 |
| &nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($3,055,074,748 ÷ 95,950,517 shares of common stock issued and outstanding) | $31.84 |
| &nbsp;&nbsp; **Class R2** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($14,158,700 ÷ 456,099 shares of common stock issued and outstanding) | $31.04 |
| &nbsp;&nbsp; **Class R4** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($11,139,541 ÷ 353,056 shares of common stock issued and outstanding) | $31.55 |
| &nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($1,690,672,638 ÷ 52,950,465 shares of common stock issued and outstanding) | $31.93 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison International Opportunities Fund 51 |

---

------

PGIM Jennison International Opportunities Fund

Statement of Operations (unaudited)

Six Months Ended April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** |  |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Unaffiliated dividend income | $14556822 |
| &nbsp;&nbsp; Affiliated dividend income | 4229038 |
| &nbsp;&nbsp; Affiliated income from securities lending, net | 112605 |
| &nbsp;&nbsp; **Total income** | 18898465 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 20356920 |
| &nbsp;&nbsp; Distribution fee(a) | 1158186 |
| &nbsp;&nbsp; Shareholder servicing fees(a) | 12658 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $80,951)(a) | 2097363 |
| &nbsp;&nbsp; Custodian and accounting fees | 266340 |
| &nbsp;&nbsp; Shareholders' reports | 164528 |
| &nbsp;&nbsp; Registration fees(a) | 90573 |
| &nbsp;&nbsp; Professional fees | 44812 |
| &nbsp;&nbsp; Directors' fees | 37866 |
| &nbsp;&nbsp; Audit fee | 15498 |
| &nbsp;&nbsp; Miscellaneous | 49686 |
| &nbsp;&nbsp; **Total expenses** | 24294430 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (813017) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Distribution fee waiver(a) | (311059) |
| &nbsp;&nbsp; **Net expenses** | 23170354 |
| &nbsp;&nbsp; Net investment income (loss) | (4271889) |
| &nbsp;&nbsp; **Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions** |  |
| &nbsp;&nbsp; Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment transactions (including affiliated of $(25525)) (net of foreign capital gains taxes $(158367)) | 324419798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | (1931425) |
|  | 322488373 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (including affiliated of $20,859) (net of change in foreign capital gains taxes $3,905,566) | (268009591) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 313876 |
|  | (267695715) |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | 54792658 |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $50520769 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 52 |

---

------

PGIM Jennison International Opportunities Fund

Statement of Operations (unaudited) (continued)

Six Months Ended April 30, 2025

(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 | 191256 | 111794 | 837548 |  | 17588 |  |  |
|  Shareholder servicing fees |  |  |  |  | 7035 | 5623 |  |
|  Transfer agent's fees and expenses | 66768 | 14556 | 139909 | 1777181 | 11803 | 9668 | 77478 |
|  Registration fees | 9470 | 7264 | 2759 | 36016 | 2511 | 5988 | 26565 |
|  Fee waiver and/or expense reimbursement | (68082) | (12542) |  | (723029) | (2862) | (6502) |  |
|  Distribution fee waiver | (31877) |  | (279182) |  |  |  |  |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Jennison International Opportunities Fund 53 |

---

------

PGIM Jennison International Opportunities Fund

Statements of Changes in Net Assets (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended<br>April 30, 2025** | **Year Ended<br>October 31, 2024** |
| &nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $(4271889) | $5368256 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | 322488373 | 102452938 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | (267695715) | 1064922608 |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 50520769 | 1172743802 |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp; Class A |  |  |
| &nbsp;&nbsp; Class C |  |  |
| &nbsp;&nbsp; Class R |  |  |
| &nbsp;&nbsp; Class Z | (2186161) | (2398454) |
| &nbsp;&nbsp; Class R2 |  |  |
| &nbsp;&nbsp; Class R4 |  |  |
| &nbsp;&nbsp; Class R6 | (2225020) | (2218376) |
|  | (4411181) | (4616830) |
| &nbsp;&nbsp; **Fund share transactions (Net of share conversions)** |  |  |
| &nbsp;&nbsp; Net proceeds from shares sold | 899138381 | 1300683230 |
| &nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 4352913 | 4571915 |
| &nbsp;&nbsp; Cost of shares purchased | (991561639) | (1416924392) |
| &nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | (88070345) | (111669247) |
| &nbsp;&nbsp; Total increase (decrease) | (41960757) | 1056457725 |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 5180863451 | 4124405726 |
| &nbsp;&nbsp; End of period | $5138902694 | $5180863451 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 54 |

---

------

PGIM Jennison International Opportunities Fund

Financial Highlights (unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class A Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended**<br> **April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended**<br> **April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $30.85 | $23.99 | $22.03 | $38.51 | $28.14 | $19.51 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.05) | (0.02)<sup>(b)</sup> | 0.01 | (0.09) | (0.25) | (0.12) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.35 | 6.88 | 1.95 | (16.36) | 10.62 | 8.75 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.30 | 6.86 | 1.96 | (16.45) | 10.37 | 8.63 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  |  |  | (-)<sup>(c)</sup> |  |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $31.15 | $30.85 | $23.99 | $22.03 | $38.51 | $28.14 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 0.97% | 28.60% | 8.90% | (42.74)% | 36.90% | 44.11% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $128791 | $130020 | $102499 | $105135 | $208515 | $76093 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $128560 | $126688 | $114648 | $150632 | $142641 | $46059 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.09 %<sup>(f)</sup> | 1.09% | 1.09% | 1.09% | 1.09% | 1.09% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.25 %<sup>(f)</sup> | 1.24% | 1.26% | 1.27% | 1.27% | 1.34% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.34)%<sup>(f)</sup> | (0.07)% | 0.03% | (0.34)% | (0.71)% | (0.52)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup>  | 54% | 44% | 59% | 76% | 41% | 43% |

---

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

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

(c) Amount rounds to zero.

(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 period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

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

(f) Annualized.

(g) 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 International Opportunities Fund 55

------

PGIM Jennison International Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class C Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $28.00 | $21.95 | $20.32 | $35.82 | $26.38 | $18.44 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.16) | (0.24)<sup>(b)</sup> | (0.18)<sup>(b)</sup> | (0.30) | (0.50) | (0.29) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.32 | 6.29 | 1.81 | (15.17) | 9.94 | 8.23 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.16 | 6.05 | 1.63 | (15.47) | 9.44 | 7.94 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  |  |  | (-)<sup>(c)</sup> |  |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $28.16 | $28.00 | $21.95 | $20.32 | $35.82 | $26.38 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 0.57% | 27.56% | 8.02% | (43.22)% | 35.84% | 43.00% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $21949 | $24232 | $22579 | $22981 | $40128 | $16411 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $22544 | $25084 | $24838 | $30780 | $28884 | $9894 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.91 %<sup>(f)</sup> | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 2.02 %<sup>(f)</sup> | 1.99% | 1.99% | 2.01% | 1.97% | 2.15% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (1.17)%<sup>(f)</sup> | (0.88)% | (0.79)% | (1.14)% | (1.52)% | (1.32)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup>  | 54% | 44% | 59% | 76% | 41% | 43% |

---

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

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

(c) Amount rounds to zero.

(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 period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

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

(f) Annualized.

(g) 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 International Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $30.23 | $23.60 | $21.75 | $38.17 | $27.98 | $19.48 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.11) | (0.13)<sup>(b)</sup> | (0.09)<sup>(b)</sup> | (0.19) | (0.37) | (0.20) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.35 | 6.76 | 1.94 | (16.20) | 10.56 | 8.70 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.24 | 6.63 | 1.85 | (16.39) | 10.19 | 8.50 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  |  |  | (-)<sup>(c)</sup> |  |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $30.47 | $30.23 | $23.60 | $21.75 | $38.17 | $27.98 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 0.79% | 28.09% | 8.51% | (42.97)% | 36.42% | 43.56% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $217117 | $226297 | $218828 | $230246 | $358284 | $291162 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $225197 | $239312 | $237233 | $269777 | $340986 | $281238 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.45 %<sup>(f)</sup> | 1.45% | 1.46% | 1.47% | 1.47% | 1.47% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.70 %<sup>(f)</sup> | 1.70% | 1.71% | 1.72% | 1.72% | 1.77% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.71)%<sup>(f)</sup> | (0.44)% | (0.35)% | (0.70)% | (1.08)% | (0.87)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup>  | 54% | 44% | 59% | 76% | 41% | 43% |

---

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

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

(c) Amount rounds to zero.

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

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

(f) Annualized.

(g) 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 International Opportunities Fund 57

------

PGIM Jennison International Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class Z Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $31.53 | $24.50 | $22.45 | $39.17 | $28.56 | $19.77 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.02) | 0.04 | 0.06 | (0.04) | (0.18) | (0.10) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.35 | 7.02 | 1.99 | (16.65) | 10.79 | 8.89 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.33 | 7.06 | 2.05 | (16.69) | 10.61 | 8.79 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.02) | (0.03) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  |  |  | (-)<sup>(b)</sup> |  |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.02) | (0.03) |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $31.84 | $31.53 | $24.50 | $22.45 | $39.17 | $28.56 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 1.06% | 28.81% | 9.13% | (42.63)% | 37.15% | 44.46% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $3055075 | $2950665 | $2332761 | $1948250 | $3481110 | $1364899 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $3020266 | $2852407 | $2382104 | $2744398 | $2452905 | $639223 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.90 %<sup>(e)</sup> | 0.90% | 0.90% | 0.90% | 0.90% | 0.90% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.95 %<sup>(e)</sup> | 0.95% | 0.95% | 0.96% | 0.94% | 0.99% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.15)%<sup>(e)</sup> | 0.12% | 0.21% | (0.14)% | (0.51)% | (0.38)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup>  | 54% | 44% | 59% | 76% | 41% | 43% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

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

See Notes to Financial Statements.

------

PGIM Jennison International Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R2 Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $30.78 | $24.00 | $22.09 | $38.72 | $28.35 | $19.70 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.09) | (0.09)<sup>(b)</sup> | (0.06)<sup>(b)</sup> | (0.15) | (0.33) | (0.29) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.35 | 6.87 | 1.97 | (16.45) | 10.70 | 8.94 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.26 | 6.78 | 1.91 | (16.60) | 10.37 | 8.65 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  |  |  | (-)<sup>(c)</sup> |  |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $31.04 | $30.78 | $24.00 | $22.09 | $38.72 | $28.35 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 0.84% | 28.25% | 8.65% | (42.90)% | 36.58% | 43.91% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $14159 | $14154 | $11710 | $10579 | $13101 | $4664 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $14187 | $14748 | $11833 | $11553 | $8789 | $1557 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.34 %<sup>(f)</sup> | 1.34% | 1.34% | 1.34% | 1.33% | 1.32% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.38 %<sup>(f)</sup> | 1.37% | 1.38% | 1.41% | 1.41% | 2.23% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.59)%<sup>(f)</sup> | (0.32)% | (0.23)% | (0.55)% | (0.92)% | (1.06)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup>  | 54% | 44% | 59% | 76% | 41% | 43% |

---

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

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

(c) Amount rounds to zero.

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

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

(f) Annualized.

(g) 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 International Opportunities Fund 59

------

PGIM Jennison International Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R4 Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $31.25 | $24.30 | $22.31 | $39.01 | $28.49 | $19.75 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.05) | (0.03)<sup>(b)</sup> | - <sup>(c)</sup> | (0.09) | (0.25) | (0.11) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.35 | 6.98 | 1.99 | (16.58) | 10.77 | 8.85 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.30 | 6.95 | 1.99 | (16.67) | 10.52 | 8.74 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  |  |  | (-)<sup>(c)</sup> |  |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $31.55 | $31.25 | $24.30 | $22.31 | $39.01 | $28.49 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 0.96% | 28.60% | 8.92% | (42.76)% | 36.97% | 44.20% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $11140 | $12294 | $9811 | $8646 | $16892 | $1359 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $11338 | $11711 | $9832 | $11164 | $11907 | $1023 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.09 %<sup>(f)</sup> | 1.08% | 1.09% | 1.09% | 1.08% | 1.04% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.21 %<sup>(f)</sup> | 1.18% | 1.15% | 1.16% | 1.14% | 2.47% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.35)%<sup>(f)</sup> | (0.11)% | 0.02% | (0.33)% | (0.69)% | (0.46)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup>  | 54% | 44% | 59% | 76% | 41% | 43% |

---

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

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

(c) Amount rounds to zero.

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

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

(f) Annualized.

(g) 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 International Opportunities Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R6 Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $31.62 | $24.57 | $22.50 | $39.24 | $28.59 | $19.78 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.02) | 0.06 | 0.07 | (0.02) | (0.16) | (0.08) |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.37 | 7.03 | 2.00 | (16.69) | 10.81 | 8.89 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.35 | 7.09 | 2.07 | (16.71) | 10.65 | 8.81 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.04) | (0.04) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  |  |  | (-)<sup>(b)</sup> |  |  |
| &nbsp;&nbsp;&nbsp; Distributions from net realized gains |  |  |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.04) | (0.04) |  | (0.03) |  |  |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $31.93 | $31.62 | $24.57 | $22.50 | $39.24 | $28.59 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 1.12% | 28.87% | 9.20% | (42.61)% | 37.25% | 44.54% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $1690673 | $1823202 | $1426218 | $1330422 | $2136686 | $673736 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $1681459 | $1742632 | $1495043 | $1686565 | $1445464 | $295968 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.84 %<sup>(e)</sup> | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.84 %<sup>(e)</sup> | 0.84% | 0.84% | 0.84% | 0.84% | 0.91% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | (0.10)%<sup>(e)</sup> | 0.19% | 0.27% | (0.07)% | (0.46)% | (0.32)% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup> | 54% | 44% | 59% | 76% | 41% | 43% |

---

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

(b) Amount rounds to zero.

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

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

(e) Annualized.

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

See Notes to Financial Statements.

PGIM Jennison International Opportunities Fund 61

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 97.3%** | &nbsp;&nbsp; **LONG-TERM INVESTMENTS 97.3%** | &nbsp;&nbsp; **LONG-TERM INVESTMENTS 97.3%** |
| &nbsp;&nbsp; **COMMON STOCKS 93.2%** | &nbsp;&nbsp; **COMMON STOCKS 93.2%** | &nbsp;&nbsp; **COMMON STOCKS 93.2%** |
| &nbsp;&nbsp; **Australia 4.4%** | &nbsp;&nbsp; **Australia 4.4%** | &nbsp;&nbsp; **Australia 4.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AGL Energy Ltd. | 21646 | $147518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aristocrat Leisure Ltd. | 20232 | 864090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BHP Group Ltd. | 28565 | 680808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BlueScope Steel Ltd. | 8000 | 122532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brambles Ltd. | 92435 | 1214749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Hall Group, REIT | 20717 | 223991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coles Group Ltd. | 52397 | 711541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Computershare Ltd. | 34251 | 895027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evolution Mining Ltd. | 23225 | 116474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fortescue Ltd. | 57364 | 592437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GPT Group (The), REIT | 38976 | 115539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Helia Group Ltd. | 252436 | 782402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JB Hi-Fi Ltd. | 14904 | 987655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Northern Star Resources Ltd. | 67303 | 826728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qantas Airways Ltd. | 96575 | 546027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; QBE Insurance Group Ltd. | 64586 | 892574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; REA Group Ltd. | 1405 | 223226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto Ltd. | 2588 | 193627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology One Ltd. | 4625 | 89273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; West African Resources Ltd.\* | 297147 | 454757 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10680975 |
| &nbsp;&nbsp; **Austria 0.1%** | &nbsp;&nbsp; **Austria 0.1%** | &nbsp;&nbsp; **Austria 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BAWAG Group AG, 144A\* | 1175 | 128790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Erste Group Bank AG | 2449 | 165850 |
|  |  | 294640 |
| &nbsp;&nbsp; **Belgium 0.0%** | &nbsp;&nbsp; **Belgium 0.0%** | &nbsp;&nbsp; **Belgium 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proximus SADP | 9800 | 75270 |
| &nbsp;&nbsp; **Brazil 1.5%** | &nbsp;&nbsp; **Brazil 1.5%** | &nbsp;&nbsp; **Brazil 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | 207800 | 488088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco do Brasil SA | 244200 | 1240976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BB Seguridade Participacoes SA | 38700 | 290157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrais Eletricas Brasileiras SA | 9200 | 71183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CPFL Energia SA | 31500 | 211308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Embraer SA\* | 10800 | 124021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Odontoprev SA | 15000 | 28228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA | 27900 | 157612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroreconcavo SA | 52000 | 117925 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 62 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Shares** | **Value** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Brazil (cont'd.)** | &nbsp;&nbsp; **Brazil (cont'd.)** | &nbsp;&nbsp; **Brazil (cont'd.)** | &nbsp;&nbsp; **Brazil (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TIM SA | 68800 | $| 229004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vale SA | 31500 |  | 293567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WEG SA | 49600 |  | 393556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XP, Inc. (Class A Stock) | 7400 |  | 119140 |
|  |  |  | 3764765 |
| &nbsp;&nbsp; **Canada 7.7%** | &nbsp;&nbsp; **Canada 7.7%** | &nbsp;&nbsp; **Canada 7.7%** | &nbsp;&nbsp; **Canada 7.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agnico Eagle Mines Ltd. | 8500 |  | 999024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barrick Gold Corp. | 66600 |  | 1270067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce | 21600 |  | 1362339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Celestica, Inc.\* | 7100 |  | 605813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CES Energy Solutions Corp. | 12600 |  | 55569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CGI, Inc. | 12900 |  | 1367853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dundee Precious Metals, Inc. | 16800 |  | 220206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Empire Co. Ltd. (Class A Stock) | 3300 |  | 122559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extendicare, Inc. | 15600 |  | 156159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fairfax Financial Holdings Ltd. | 100 |  | 156122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; George Weston Ltd. | 5100 |  | 993660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Great-West Lifeco, Inc. | 32900 |  | 1279391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hudbay Minerals, Inc. | 23000 |  | 167337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; iA Financial Corp., Inc. | 4000 |  | 388568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IGM Financial, Inc. | 5700 |  | 181138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kinross Gold Corp. | 92700 |  | 1368377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loblaw Cos. Ltd. | 8000 |  | 1298709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lundin Gold, Inc. | 3000 |  | 122363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Manulife Financial Corp. | 45600 |  | 1397505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metro, Inc. | 4900 |  | 377612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pan American Silver Corp. | 2500 |  | 62944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Power Corp. of Canada | 37100 |  | 1404235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Royal Bank of Canada | 2400 |  | 288066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Secure Waste Infrastructure Corp. | 9000 |  | 85717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shopify, Inc. (Class A Stock)\* | 15400 |  | 1464709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suncor Energy, Inc. | 44100 |  | 1557543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wesdome Gold Mines Ltd.\* | 6000 |  | 73814 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18827399 |
| &nbsp;&nbsp; **Chile 0.1%** | &nbsp;&nbsp; **Chile 0.1%** | &nbsp;&nbsp; **Chile 0.1%** | &nbsp;&nbsp; **Chile 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco de Chile | 772450 |  | 113393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enel Chile SA | 1404400 |  | 99372 |
|  |  |  | 212765 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Quant Solutions International Equity Fund 63 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **China 8.8%** | &nbsp;&nbsp; **China 8.8%** | &nbsp;&nbsp; **China 8.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agricultural Bank of China Ltd. (Class H Stock) | 102000 | $62242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding Ltd. | 35900 | 535988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings Ltd. | 95000 | 394096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BYD Co. Ltd. (Class H Stock) | 36000 | 1709865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chifeng Jilong Gold Mining Co. Ltd. (Class A Stock) | 40000 | 145257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China BlueChemical Ltd. (Class H Stock) | 1428000 | 347676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China Construction Bank Corp. (Class H Stock) | 1176000 | 965999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China Hongqiao Group Ltd. | 67500 | 121163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China Life Insurance Co. Ltd. (Class H Stock) | 310000 | 566555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CMOC Group Ltd. (Class H Stock) | 150000 | 117761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co. Ltd. (Class A Stock) | 6700 | 214042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; COSCO SHIPPING Holdings Co. Ltd. (Class H Stock) | 81000 | 122232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dong-E-E-Jiao Co. Ltd. (Class A Stock) | 15600 | 116635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Geely Automobile Holdings Ltd. | 436000 | 915296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gree Electric Appliances, Inc. of Zhuhai (Class A Stock) | 51700 | 324133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hansoh Pharmaceutical Group Co. Ltd., 144A | 40000 | 123959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hygon Information Technology Co. Ltd. (Class A Stock) | 2820 | 57760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China Ltd. (Class H Stock) | 1480000 | 1013818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JD.com, Inc. (Class A Stock) | 92100 | 1499519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jiangsu Hengrui Pharmaceuticals Co. Ltd. (Class A Stock) | 55700 | 391097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meituan (Class B Stock), 144A\* | 80900 | 1339497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NetEase, Inc. | 29500 | 634142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New China Life Insurance Co. Ltd. (Class H Stock) | 33800 | 123435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd. (Class H Stock) | 263500 | 1577057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pop Mart International Group Ltd., 144A | 62400 | 1556335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Satellite Chemical Co. Ltd. (Class A Stock) | 49400 | 123396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shandong Himile Mechanical Science & Technology Co. Ltd. (Class A Stock) | 28000 | 218773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shanghai Pudong Development Bank Co. Ltd. (Class A Stock) | 108400 | 163385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tencent Holdings Ltd. | 43500 | 2664417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tencent Music Entertainment Group, ADR | 9000 | 120780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Mining Co. Ltd. (Class A Stock) | 79000 | 167456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilmar International Ltd. | 40200 | 94288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WuXi AppTec Co. Ltd. (Class H Stock), 144A | 15600 | 120566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xiaomi Corp. (Class B Stock), 144A\* | 278800 | 1784935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yunnan Aluminium Co. Ltd. (Class A Stock) | 79000 | 165386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yunnan Baiyao Group Co. Ltd. (Class A Stock) | 28000 | 220571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yunnan Yuntianhua Co. Ltd. (Class A Stock) | 98600 | 303024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yutong Bus Co. Ltd. (Class A Stock) | 73300 | 270649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zhejiang China Commodities City Group Co. Ltd. (Class A Stock) | 45900 | 96706 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21489891 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 64 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Denmark 0.4%** | &nbsp;&nbsp; **Denmark 0.4%** | &nbsp;&nbsp; **Denmark 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AP Moller - Maersk A/S (Class B Stock) | 70 | $120532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk A/S (Class B Stock) | 9322 | 623284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Scandinavian Tobacco Group A/S, 144A | 15916 | 231666 |
|  |  | 975482 |
| &nbsp;&nbsp; **Finland 1.7%** | &nbsp;&nbsp; **Finland 1.7%** | &nbsp;&nbsp; **Finland 1.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kemira OYJ | 13470 | 277941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Konecranes OYJ | 4392 | 294255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nokia OYJ | 284013 | 1419830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp | 93239 | 1291262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orion OYJ (Class B Stock) | 5917 | 370473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | 30089 | 555934 |
|  |  | 4209695 |
| &nbsp;&nbsp; **France 5.4%** | &nbsp;&nbsp; **France 5.4%** | &nbsp;&nbsp; **France 5.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AXA SA | 40287 | 1905410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNP Paribas SA | 10428 | 883559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cie de Saint-Gobain SA | 14756 | 1604243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | 35562 | 1300350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Agricole SA | 57523 | 1078935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dassault Aviation SA | 208 | 74998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eiffage SA | 3603 | 490270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Engie SA | 69501 | 1436469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ipsen SA | 932 | 108395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Klepierre SA, REIT | 39708 | 1453439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | 256 | 141806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orange SA | 32563 | 472426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Publicis Groupe SA | 2790 | 283874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rubis SCA | 5618 | 182870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technip Energies NV | 2783 | 94967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TotalEnergies SE | 4269 | 243142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vinci SA | 10302 | 1447094 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13202247 |
| &nbsp;&nbsp; **Georgia 0.2%** | &nbsp;&nbsp; **Georgia 0.2%** | &nbsp;&nbsp; **Georgia 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lion Finance Group PLC | 5808 | 465877 |
| &nbsp;&nbsp; **Germany 6.2%** | &nbsp;&nbsp; **Germany 6.2%** | &nbsp;&nbsp; **Germany 6.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; adidas AG | 5055 | 1163113 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Quant Solutions International Equity Fund 65 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Shares** | **Value** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Germany (cont'd.)** | &nbsp;&nbsp; **Germany (cont'd.)** | &nbsp;&nbsp; **Germany (cont'd.)** | &nbsp;&nbsp; **Germany (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allianz SE | 2041 | $| 844110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Bank AG | 60290 |  | 1580824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche Telekom AG | 58638 |  | 2106132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freenet AG | 6065 |  | 252202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GEA Group AG | 7798 |  | 508739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Heidelberg Materials AG | 8070 |  | 1613301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA | 770 |  | 54347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MTU Aero Engines AG | 1605 |  | 555499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rational AG | 168 |  | 144150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rheinmetall AG | 553 |  | 941788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAP SE | 3885 |  | 1136707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Siemens AG | 11570 |  | 2664123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Siemens Energy AG\* | 7861 |  | 606741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Talanx AG | 4430 |  | 508423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zalando SE, 144A\* | 14325 |  | 523095 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15203294 |
| &nbsp;&nbsp; **Greece 0.0%** | &nbsp;&nbsp; **Greece 0.0%** | &nbsp;&nbsp; **Greece 0.0%** | &nbsp;&nbsp; **Greece 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eurobank Ergasias Services & Holdings SA | 41200 |  | 116927 |
| &nbsp;&nbsp; **Hong Kong 1.2%** | &nbsp;&nbsp; **Hong Kong 1.2%** | &nbsp;&nbsp; **Hong Kong 1.2%** | &nbsp;&nbsp; **Hong Kong 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIA Group Ltd. | 228200 |  | 1709883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WH Group Ltd., 144A | 1223000 |  | 1093616 |
|  |  |  | 2803499 |
| &nbsp;&nbsp; **India 5.0%** | &nbsp;&nbsp; **India 5.0%** | &nbsp;&nbsp; **India 5.0%** | &nbsp;&nbsp; **India 5.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bharat Electronics Ltd. | 258334 |  | 960880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bharti Airtel Ltd. | 40792 |  | 899800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chambal Fertilisers & Chemicals Ltd. | 14600 |  | 119705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cipla Ltd. | 34984 |  | 641982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Coal India Ltd. | 124494 |  | 567230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cummins India Ltd. | 8955 |  | 307468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Divi's Laboratories Ltd. | 918 |  | 66265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DLF Ltd. | 16075 |  | 128220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Godfrey Phillips India Ltd. | 536 |  | 51384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hindalco Industries Ltd. | 147867 |  | 1092879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hindustan Aeronautics Ltd. | 14521 |  | 770027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indian Hotels Co. Ltd. (The) | 9800 |  | 91185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Infosys Ltd. | 24491 |  | 432950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; InterGlobe Aviation Ltd., 144A\* | 3776 |  | 235288 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 66 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Shares** | **Value** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **India (cont'd.)** | &nbsp;&nbsp; **India (cont'd.)** | &nbsp;&nbsp; **India (cont'd.)** | &nbsp;&nbsp; **India (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lupin Ltd. | 24654 | $| 613073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maruti Suzuki India Ltd. | 6255 |  | 906685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Natco Pharma Ltd. | 6875 |  | 69217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Aluminium Co. Ltd. | 111425 |  | 206584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NMDC Ltd. | 154000 |  | 118143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oberoi Realty Ltd. | 4731 |  | 91841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oil & Natural Gas Corp. Ltd. | 216021 |  | 625075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Page Industries Ltd. | 342 |  | 184383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Persistent Systems Ltd. | 2220 |  | 139715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redington Ltd. | 40650 |  | 118185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sun Pharmaceutical Industries Ltd. | 64545 |  | 1399888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vedanta Ltd. | 191248 |  | 949648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zensar Technologies Ltd. | 8624 |  | 73773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zydus Lifesciences Ltd. | 26850 |  | 282683 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12144156 |
| &nbsp;&nbsp; **Indonesia 0.0%** | &nbsp;&nbsp; **Indonesia 0.0%** | &nbsp;&nbsp; **Indonesia 0.0%** | &nbsp;&nbsp; **Indonesia 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Pacific Co. Ltd. | 86000 |  | 57867 |
| &nbsp;&nbsp; **Ireland 0.1%** | &nbsp;&nbsp; **Ireland 0.1%** | &nbsp;&nbsp; **Ireland 0.1%** | &nbsp;&nbsp; **Ireland 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIB Group PLC | 44575 |  | 299591 |
| &nbsp;&nbsp; **Israel 0.5%** | &nbsp;&nbsp; **Israel 0.5%** | &nbsp;&nbsp; **Israel 0.5%** | &nbsp;&nbsp; **Israel 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Hapoalim BM | 7175 |  | 105247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Leumi Le-Israel BM | 51017 |  | 724494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plus500 Ltd. | 4875 |  | 199838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wix.com Ltd.\* | 400 |  | 67836 |
|  |  |  | 1097415 |
| &nbsp;&nbsp; **Italy 2.7%** | &nbsp;&nbsp; **Italy 2.7%** | &nbsp;&nbsp; **Italy 2.7%** | &nbsp;&nbsp; **Italy 2.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BPER Banca SpA | 82090 |  | 666742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Enel SpA | 205308 |  | 1779809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | 362663 |  | 1936000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Leonardo SpA | 16290 |  | 846890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; UniCredit SpA | 23086 |  | 1343163 |
|  |  |  | 6572604 |
| &nbsp;&nbsp; **Japan 12.2%** | &nbsp;&nbsp; **Japan 12.2%** | &nbsp;&nbsp; **Japan 12.2%** | &nbsp;&nbsp; **Japan 12.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABC-Mart, Inc. | 13300 |  | 247353 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Quant Solutions International Equity Fund 67 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Japan (cont'd.)** | &nbsp;&nbsp; **Japan (cont'd.)** | &nbsp;&nbsp; **Japan (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advantest Corp. | 36100 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aisin Corp. | 4800 | 60966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anycolor, Inc. | 10400 | 268151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ARE Holdings, Inc. | 15000 | 186361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asics Corp. | 22000 | 472869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Astellas Pharma, Inc. | 12000 | 120170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bandai Namco Holdings, Inc. | 3900 | 135535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BayCurrent, Inc. | 1900 | 102379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bic Camera, Inc. | 8100 | 86861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BIPROGY, Inc. | 6700 | 218810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bridgestone Corp. | 7000 | 292706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chugoku Marine Paints Ltd. | 6400 | 92958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; COMSYS Holdings Corp. | 4500 | 99738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daifuku Co. Ltd. | 11200 | 296290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dai-ichi Life Holdings, Inc. | 32500 | 234665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daito Trust Construction Co. Ltd. | 9000 | 1002033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Daiwa House REIT Investment Corp., REIT | 130 | 217747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ebara Corp. | 5000 | 75109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electric Power Development Co. Ltd. | 41000 | 719774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ENEOS Holdings, Inc. | 167600 | 806865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fast Retailing Co. Ltd. | 4300 | 1414463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food & Life Cos. Ltd. | 4400 | 162823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freee KK\* | 3800 | 107369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fujikura Ltd. | 2400 | 89297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Glory Ltd. | 5400 | 95082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GLP J-REIT, REIT | 252 | 217362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hazama Ando Corp. | 10800 | 107564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hitachi Ltd. | 8500 | 210082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hokkaido Electric Power Co., Inc. | 49800 | 236607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hokuriku Electric Power Co. | 13500 | 69378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Idemitsu Kosan Co. Ltd. | 39500 | 244782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Lifeline Co. Ltd. | 15000 | 160605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Japan Post Holdings Co. Ltd. | 22300 | 216762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kansai Electric Power Co., Inc. (The) | 42900 | 528547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Katitas Co. Ltd. | 6400 | 92730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kawasaki Kisen Kaisha Ltd. | 86100 | 1180803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Konami Group Corp. | 8900 | 1271062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lasertec Corp. | 1400 | 130159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mabuchi Motor Co. Ltd. | 6200 | 90577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marubeni Corp. | 25400 | 450308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Medipal Holdings Corp. | 36000 | 610044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi Heavy Industries Ltd. | 43000 | 847652 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 68 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Shares** | **Value** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Japan (cont'd.)** | &nbsp;&nbsp; **Japan (cont'd.)** | &nbsp;&nbsp; **Japan (cont'd.)** | &nbsp;&nbsp; **Japan (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitsui Mining & Smelting Co. Ltd. | 12300 | $| 334400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MIXI, Inc. | 4000 |  | 88879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Modec, Inc. | 6400 |  | 194226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MS&AD Insurance Group Holdings, Inc. | 21300 |  | 484145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nippon Paint Holdings Co. Ltd. | 13000 |  | 99044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Niterra Co. Ltd. | 3300 |  | 102752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nomura Holdings, Inc. | 238800 |  | 1330967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Obayashi Corp. | 27500 |  | 426667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Open House Group Co. Ltd. | 2700 |  | 119723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Otsuka Holdings Co. Ltd. | 11600 |  | 565509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rakus Co. Ltd. | 7500 |  | 113961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanrio Co. Ltd. | 14300 |  | 569801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sansan, Inc.\* | 15600 |  | 213118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seiko Epson Corp. | 8400 |  | 116534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sekisui House REIT, Inc., REIT | 224 |  | 120843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SHIFT, Inc.\* | 19200 |  | 175684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shikoku Electric Power Co., Inc. | 43200 |  | 355019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shimamura Co. Ltd. | 1800 |  | 119770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shionogi & Co. Ltd. | 38900 |  | 653540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sony Group Corp. | 83000 |  | 2189772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Electric Industries Ltd. | 5200 |  | 83582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. | 46300 |  | 1104589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suzuki Motor Corp. | 114500 |  | 1372130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; T&D Holdings, Inc. | 4700 |  | 100010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taisei Corp. | 2300 |  | 124711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co. Ltd. | 52900 |  | 1600152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tohoku Electric Power Co., Inc. | 23900 |  | 171759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tokio Marine Holdings, Inc. | 1400 |  | 56115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tokyo Electric Power Co. Holdings, Inc.\* | 160800 |  | 491912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Toyota Motor Corp. | 19665 |  | 375590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zensho Holdings Co. Ltd. | 1800 |  | 111228 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29747808 |
| &nbsp;&nbsp; **Jordan 0.1%** | &nbsp;&nbsp; **Jordan 0.1%** | &nbsp;&nbsp; **Jordan 0.1%** | &nbsp;&nbsp; **Jordan 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hikma Pharmaceuticals PLC | 8960 |  | 237436 |
| &nbsp;&nbsp; **Netherlands 2.3%** | &nbsp;&nbsp; **Netherlands 2.3%** | &nbsp;&nbsp; **Netherlands 2.3%** | &nbsp;&nbsp; **Netherlands 2.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABN AMRO Bank NV, 144A, CVA | 18232 |  | 377819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASM International NV | 1343 |  | 656441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ASML Holding NV | 1301 |  | 870944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EXOR NV | 535 |  | 50512 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Quant Solutions International Equity Fund 69 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Shares** | **Value** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Netherlands (cont'd.)** | &nbsp;&nbsp; **Netherlands (cont'd.)** | &nbsp;&nbsp; **Netherlands (cont'd.)** | &nbsp;&nbsp; **Netherlands (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ING Groep NV | 37455 | $| 727350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | 34359 |  | 1410748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Koninklijke BAM Groep NV | 26475 |  | 179336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Koninklijke KPN NV | 293548 |  | 1365543 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5638693 |
| &nbsp;&nbsp; **New Zealand 0.2%** | &nbsp;&nbsp; **New Zealand 0.2%** | &nbsp;&nbsp; **New Zealand 0.2%** | &nbsp;&nbsp; **New Zealand 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fisher & Paykel Healthcare Corp. Ltd. | 4225 |  | 85231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Xero Ltd.\* | 3712 |  | 390922 |
|  |  |  | 476153 |
| &nbsp;&nbsp; **Norway 0.8%** | &nbsp;&nbsp; **Norway 0.8%** | &nbsp;&nbsp; **Norway 0.8%** | &nbsp;&nbsp; **Norway 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DNB Bank ASA | 21578 |  | 539409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kongsberg Gruppen ASA | 8910 |  | 1435480 |
|  |  |  | 1974889 |
| &nbsp;&nbsp; **Poland 0.7%** | &nbsp;&nbsp; **Poland 0.7%** | &nbsp;&nbsp; **Poland 0.7%** | &nbsp;&nbsp; **Poland 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bank Polska Kasa Opieki SA | 11353 |  | 569031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Powszechna Kasa Oszczednosci Bank Polski SA | 52000 |  | 999749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Powszechny Zaklad Ubezpieczen SA | 15250 |  | 237912 |
|  |  |  | 1806692 |
| &nbsp;&nbsp; **Portugal 0.1%** | &nbsp;&nbsp; **Portugal 0.1%** | &nbsp;&nbsp; **Portugal 0.1%** | &nbsp;&nbsp; **Portugal 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NOS SGPS SA | 28350 |  | 118316 |
| &nbsp;&nbsp; **Qatar 0.3%** | &nbsp;&nbsp; **Qatar 0.3%** | &nbsp;&nbsp; **Qatar 0.3%** | &nbsp;&nbsp; **Qatar 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ooredoo QPSC | 228249 |  | 813176 |
| &nbsp;&nbsp; **Russia 0.0%** | &nbsp;&nbsp; **Russia 0.0%** | &nbsp;&nbsp; **Russia 0.0%** | &nbsp;&nbsp; **Russia 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inter RAO UES PJSC^ | 13660000 |  | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LUKOIL PJSC^ | 14283 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Polyus PJSC\*^ | 14500 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rosneft Oil Co. PJSC^ | 155425 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sberbank of Russia PJSC^ | 366709 |  |  |
|  |  |  | 17 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 70 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Saudi Arabia 0.8%** | &nbsp;&nbsp; **Saudi Arabia 0.8%** | &nbsp;&nbsp; **Saudi Arabia 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Arabian Internet & Communications Services Co. | 1612 | $123350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Etihad Etisalat Co. | 15469 | 258989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Riyad Bank | 54459 | 447068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saudi Awwal Bank | 9900 | 92638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saudi Telecom Co. | 66495 | 844205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saudia Dairy & Foodstuff Co. | 1197 | 97499 |
|  |  | 1863749 |
| &nbsp;&nbsp; **Singapore 0.8%** | &nbsp;&nbsp; **Singapore 0.8%** | &nbsp;&nbsp; **Singapore 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BW LPG Ltd., 144A | 37526 | 376969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hafnia Ltd. | 72255 | 333066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sea Ltd., ADR\* | 7400 | 991970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Singapore Technologies Engineering Ltd. | 48000 | 272556 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974561 |
| &nbsp;&nbsp; **South Africa 0.2%** | &nbsp;&nbsp; **South Africa 0.2%** | &nbsp;&nbsp; **South Africa 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Harmony Gold Mining Co. Ltd. | 17525 | 275359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life Healthcare Group Holdings Ltd. | 94225 | 74109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanlam Ltd. | 25875 | 117810 |
|  |  | 467278 |
| &nbsp;&nbsp; **South Korea 4.4%** | &nbsp;&nbsp; **South Korea 4.4%** | &nbsp;&nbsp; **South Korea 4.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNK Financial Group, Inc. | 31386 | 228774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hana Financial Group, Inc. | 18602 | 843603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HD Hyundai Heavy Industries Co. Ltd.\* | 1314 | 371638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hyundai Glovis Co. Ltd. | 1248 | 100067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hyundai Mobis Co. Ltd. | 5877 | 1103164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JB Financial Group Co. Ltd. | 14248 | 171190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kangwon Land, Inc. | 4459 | 50900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KB Financial Group, Inc. | 20761 | 1312069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kia Corp. | 16583 | 1053904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KT&G Corp. | 1266 | 102184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Meritz Financial Group, Inc. | 1482 | 129469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NAVER Corp. | 3525 | 495987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Orion Corp. | 548 | 47500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. | 32334 | 1261593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samsung Securities Co. Ltd. | 10374 | 380275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shinhan Financial Group Co. Ltd. | 26590 | 960963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SK Hynix, Inc. | 13783 | 1719748 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Quant Solutions International Equity Fund 71 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Shares** | **Value** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **South Korea (cont'd.)** | &nbsp;&nbsp; **South Korea (cont'd.)** | &nbsp;&nbsp; **South Korea (cont'd.)** | &nbsp;&nbsp; **South Korea (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SK Telecom Co. Ltd. | 1010 | $| 38589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Woori Financial Group, Inc. | 32749 |  | 407809 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10779426 |
| &nbsp;&nbsp; **Spain 1.3%** | &nbsp;&nbsp; **Spain 1.3%** | &nbsp;&nbsp; **Spain 1.3%** | &nbsp;&nbsp; **Spain 1.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | 12859 |  | 805679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | 116688 |  | 1601431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Santander SA | 94501 |  | 665368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indra Sistemas SA | 3952 |  | 126005 |
|  |  |  | 3198483 |
| &nbsp;&nbsp; **Sweden 1.8%** | &nbsp;&nbsp; **Sweden 1.8%** | &nbsp;&nbsp; **Sweden 1.8%** | &nbsp;&nbsp; **Sweden 1.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alfa Laval AB | 23875 |  | 990236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Atlas Copco AB (Class B Stock) | 11346 |  | 157547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boliden AB\* | 9427 |  | 288844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Epiroc AB (Class B Stock) | 2938 |  | 57619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Essity AB (Class B Stock) | 47122 |  | 1362724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB (Class A Stock) | 48636 |  | 636636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swedbank AB (Class A Stock) | 30211 |  | 754183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson (Class B Stock) | 20412 |  | 172428 |
|  |  |  | 4420217 |
| &nbsp;&nbsp; **Switzerland 1.0%** | &nbsp;&nbsp; **Switzerland 1.0%** | &nbsp;&nbsp; **Switzerland 1.0%** | &nbsp;&nbsp; **Switzerland 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ABB Ltd. | 20688 |  | 1092549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Geberit AG | 174 |  | 120533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Logitech International SA | 13318 |  | 1012036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schindler Holding AG | 170 |  | 60273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | 174 |  | 123413 |
|  |  |  | 2408804 |
| &nbsp;&nbsp; **Taiwan 3.3%** | &nbsp;&nbsp; **Taiwan 3.3%** | &nbsp;&nbsp; **Taiwan 3.3%** | &nbsp;&nbsp; **Taiwan 3.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accton Technology Corp. | 7000 |  | 130384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asustek Computer, Inc. | 5000 |  | 91435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eva Airways Corp. | 232000 |  | 278662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co. Ltd. | 53000 |  | 236131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MediaTek, Inc. | 24000 |  | 1019835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TaiDoc Technology Corp. | 37000 |  | 155050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | 208000 |  | 5893587 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 72 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Shares** | **Value** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **Taiwan (cont'd.)** | &nbsp;&nbsp; **Taiwan (cont'd.)** | &nbsp;&nbsp; **Taiwan (cont'd.)** | &nbsp;&nbsp; **Taiwan (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wiwynn Corp. | 2000 | $| 120363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yang Ming Marine Transport Corp. | 55000 |  | 117506 |
|  |  |  | 8042953 |
| &nbsp;&nbsp; **Thailand 0.1%** | &nbsp;&nbsp; **Thailand 0.1%** | &nbsp;&nbsp; **Thailand 0.1%** | &nbsp;&nbsp; **Thailand 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advanced Info Service PCL | 24600 |  | 216989 |
| &nbsp;&nbsp; **Turkey 1.0%** | &nbsp;&nbsp; **Turkey 1.0%** | &nbsp;&nbsp; **Turkey 1.0%** | &nbsp;&nbsp; **Turkey 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aselsan Elektronik Sanayi Ve Ticaret A/S | 203421 |  | 716628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MLP Saglik Hizmetleri A/S, 144A\* | 17522 |  | 149158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pegasus Hava Tasimaciligi A/S\* | 86800 |  | 504807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turk Hava Yollari AO\* | 49180 |  | 364912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkcell Iletisim Hizmetleri A/S | 329761 |  | 773472 |
|  |  |  | 2508977 |
| &nbsp;&nbsp; **United Arab Emirates 1.0%** | &nbsp;&nbsp; **United Arab Emirates 1.0%** | &nbsp;&nbsp; **United Arab Emirates 1.0%** | &nbsp;&nbsp; **United Arab Emirates 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aldar Properties PJSC | 39275 |  | 88445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emaar Properties PJSC | 402747 |  | 1439117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emirates NBD Bank PJSC | 172512 |  | 965460 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2493022 |
| &nbsp;&nbsp; **United Kingdom 8.9%** | &nbsp;&nbsp; **United Kingdom 8.9%** | &nbsp;&nbsp; **United Kingdom 8.9%** | &nbsp;&nbsp; **United Kingdom 8.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3i Group PLC | 30950 |  | 1754588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Admiral Group PLC | 2450 |  | 106556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anglogold Ashanti PLC | 3016 |  | 125562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Associated British Foods PLC | 42243 |  | 1164434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca PLC | 4855 |  | 695560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Barclays PLC | 257798 |  | 1026975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; British American Tobacco PLC | 15927 |  | 693754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrica PLC | 489597 |  | 1048243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Drax Group PLC | 14700 |  | 121260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Games Workshop Group PLC | 1570 |  | 323330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Halma PLC | 8892 |  | 328218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HSBC Holdings PLC | 253176 |  | 2822248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IG Group Holdings PLC | 8375 |  | 119369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Imperial Brands PLC | 39037 |  | 1601806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC | 975021 |  | 957937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mitie Group PLC | 65772 |  | 126833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NatWest Group PLC | 262803 |  | 1690424 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Quant Solutions International Equity Fund 73 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| **Description** | **Shares** | **Value** | **Value** |
| &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** | &nbsp;&nbsp; **COMMON STOCKS (Continued)** |
| &nbsp;&nbsp; **United Kingdom (cont'd.)** | &nbsp;&nbsp; **United Kingdom (cont'd.)** | &nbsp;&nbsp; **United Kingdom (cont'd.)** | &nbsp;&nbsp; **United Kingdom (cont'd.)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Next PLC | 6516 | $| 1074987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paragon Banking Group PLC | 14150 |  | 159854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reckitt Benckiser Group PLC | 18546 |  | 1197080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rolls-Royce Holdings PLC | 194017 |  | 1963932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smiths Group PLC | 12594 |  | 313837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Standard Chartered PLC | 85861 |  | 1236678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tesco PLC | 199099 |  | 985342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TORM PLC (Class A Stock) | 2210 |  | 36832 |
|  |  |  | 21675639 |
| &nbsp;&nbsp; **United States 5.9%** | &nbsp;&nbsp; **United States 5.9%** | &nbsp;&nbsp; **United States 5.9%** | &nbsp;&nbsp; **United States 5.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GSK PLC | 93261 |  | 1844953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holcim AG\* | 2772 |  | 309765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JBS SA | 141700 |  | 1094869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nestle SA | 7156 |  | 761666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Novartis AG | 27176 |  | 3099621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Roche Holding AG | 9880 |  | 3230627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sanofi SA | 7645 |  | 836301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric SE | 4278 |  | 999537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shell PLC | 50559 |  | 1631627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Spotify Technology SA\* | 800 |  | 491184 |
|  |  |  | 14300150 |
| &nbsp;&nbsp; **TOTAL COMMON STOCKS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $194,938,771) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227657787 |
| &nbsp;&nbsp; **PREFERRED STOCKS 1.2%** | &nbsp;&nbsp; **PREFERRED STOCKS 1.2%** | &nbsp;&nbsp; **PREFERRED STOCKS 1.2%** | &nbsp;&nbsp; **PREFERRED STOCKS 1.2%** |
| &nbsp;&nbsp; **Brazil 1.1%** | &nbsp;&nbsp; **Brazil 1.1%** | &nbsp;&nbsp; **Brazil 1.1%** | &nbsp;&nbsp; **Brazil 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gerdau SA (PRFC) | 97800 |  | 258323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA (PRFC) | 214500 |  | 1344794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA (PRFC) | 194800 |  | 1031126 |
|  |  |  | 2634243 |
| &nbsp;&nbsp; **South Korea 0.1%** | &nbsp;&nbsp; **South Korea 0.1%** | &nbsp;&nbsp; **South Korea 0.1%** | &nbsp;&nbsp; **South Korea 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. (PRFC) | 6505 |  | 214734 |
| &nbsp;&nbsp; **TOTAL PREFERRED STOCKS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $2,489,565) |  |  | 2848977 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 74 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** |  |  | **Shares** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Value** |
| &nbsp;&nbsp; **UNAFFILIATED EXCHANGE-TRADED FUNDS 2.9%** |  |  |  |  |
| &nbsp;&nbsp; **United States** | &nbsp;&nbsp; **United States** | &nbsp;&nbsp; **United States** | &nbsp;&nbsp; **United States** | &nbsp;&nbsp; **United States** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI EAFE ETF(a) |  |  | 60400 | $5118900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI Emerging Markets ETF(a) |  |  | 45700 | 1999832 |
| &nbsp;&nbsp; **TOTAL UNAFFILIATED EXCHANGE-TRADED FUNDS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $6,974,929) |  |  |  | 7118732 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $204,403,265) |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237625496 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 17.5%** |  |  |  |  |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS 16.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)(wb) |  |  | 31625958 | 31625958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cost $9,123,249; includes $9,115,063 of cash collateral for securities on loan)(b)(wb) |  |  | 9129873 | 9123483 |
| &nbsp;&nbsp; **TOTAL AFFILIATED MUTUAL FUNDS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $40,749,207) |  |  |  | 40749441 |
|  | **Interest<br>Rate** | **Maturity<br>Date** | **Principal**<br>**Amount<br>(000)#** |  |
| &nbsp;&nbsp; **U.S. TREASURY OBLIGATION(k)(n) 0.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bills<br>(cost $2,078,517) | 4.235% | 06/17/25 | 2090 | 2078491 |
| &nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $42,827,724) |  |  |  | 42827932 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 114.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $247,230,989) |  |  |  | 280453428 |
| &nbsp;&nbsp; Liabilities in excess of other assets(z) (14.8)% |  |  |  | (36221604) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** | &nbsp;&nbsp; **NET ASSETS 100.0%** |  |  | $244231824 |

---

See the Glossary for a list of the abbreviation(s) used in the semiannual report.

\* Non-income producing security.

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

---

| | |
|:---|:---|
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $17 and 0.0% of net assets.  |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Quant Solutions International Equity Fund 75 |

---

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $8,919,083; cash collateral of $9,115,063 (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.

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

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

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

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

#### Futures contracts outstanding at April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number<br>of<br>Contracts** | **Type** | **Expiration<br>Date** | **Current<br>Notional<br>Amount** | **Value /<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Long Positions:** | **Long Positions:** |  |  |  |
| 33 | Mini MSCI EAFE Index | Jun. 2025 | $4116255 | $17438 |
| 34 | Mini MSCI Emerging Markets Index | Jun. 2025 | 1887000 | 14380 |
|  |  |  |  | $31818 |

---

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

---

| | | |
|:---|:---|:---|
| **Broker**  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and/or Foreign Currency**  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities Market Value**  |
|  GS | $– | $2078491 |

---

#### 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.

See Notes to Financial Statements.

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

The following is a summary of the inputs used as of April 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; Australia | $— | $10680975 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Austria |  | 294640 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Belgium |  | 75270 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 3764765 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 18827399 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chile | 212765 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; China | 120780 | 21369111 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Denmark |  | 975482 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Finland |  | 4209695 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; France |  | 13202247 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Georgia |  | 465877 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany |  | 15203294 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Greece |  | 116927 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong |  | 2803499 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; India |  | 12144156 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesia |  | 57867 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ireland |  | 299591 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Israel | 67836 | 1029579 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy |  | 6572604 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan |  | 29747808 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jordan |  | 237436 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands |  | 5638693 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; New Zealand |  | 476153 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Norway |  | 1974889 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Poland |  | 1806692 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Portugal |  | 118316 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Qatar |  | 813176 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Russia |  |  | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; Saudi Arabia | 258989 | 1604760 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | 991970 | 982591 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South Africa | 74109 | 393169 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea |  | 10779426 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain |  | 3198483 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweden |  | 4420217 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland |  | 2408804 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan |  | 8042953 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Thailand |  | 216989 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkey |  | 2508977 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates |  | 2493022 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom |  | 21675639 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 1586053 | 12714097 |  |

---

See Notes to Financial Statements.

PGIM Quant Solutions International Equity Fund 77

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities (continued)** |  |  |  |
|  **Assets (continued)** |  |  |  |
|  **Long-Term Investments (continued)** |  |  |  |
|  Preferred Stocks |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | $2634243 | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea |  | 214734 |  |
|  Unaffiliated Exchange-Traded Funds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 7118732 |  |  |
|  **Short-Term Investments** |  |  |  |
|  Affiliated Mutual Funds | 40749441 |  |  |
|  U.S. Treasury Obligation |  | 2078491 |  |
|  **Total** | $**76407082** | $**204046329** | **$17** |
|  **Other Financial Instruments\*** |  |  |  |
|  **Assets** |  |  |  |
|  Futures Contracts | $**31818** | $**—** | **$—** |

---

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

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

---

| | |
|:---|:---|
|  Affiliated Mutual Funds (3.7% represents investments purchased with collateral from securities on loan) | 16.7 |
|  Banks | 15.3 |
|  Pharmaceuticals | 7.3 |
|  Insurance | 6.0 |
|  Metals & Mining | 5.0 |
|  Semiconductors & Semiconductor Equipment | 4.9 |
|  Aerospace & Defense | 3.5 |
|  Oil, Gas & Consumable Fuels | 3.2 |
|  Unaffiliated Exchange-Traded Funds | 2.9 |
|  Automobiles | 2.6 |
|  Capital Markets | 2.5 |
|  Consumer Staples Distribution & Retail | 2.4 |
|  Diversified Telecommunication Services | 2.4 |
|  Specialty Retail | 2.3 |
|  Machinery | 2.1 |

---

---

| | |
|:---|:---|
|  Technology Hardware, Storage & Peripherals | 1.9 |
|  Food Products | 1.8 |
|  IT Services | 1.7 |
|  Electric Utilities | 1.6 |
|  Entertainment | 1.6 |
|  Construction & Engineering | 1.5 |
|  Electrical Equipment | 1.4 |
|  Interactive Media & Services | 1.4 |
|  Industrial Conglomerates | 1.3 |
|  Broadline Retail | 1.3 |
|  Automobile Components | 1.2 |
|  Real Estate Management & Development | 1.2 |
|  Tobacco | 1.1 |
|  Wireless Telecommunication Services | 1.1 |
|  Household Durables | 1.1 |
|  Multi-Utilities | 1.1 |
|  Hotels, Restaurants & Leisure | 1.1 |

---

See Notes to Financial Statements.

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

#### Industry Classification (continued) :

---

| | |
|:---|:---|
|  Household Products | 1.1 |
|  U.S. Treasury Obligation | 0.8 |
|  Software | 0.8 |
|  Textiles, Apparel & Luxury Goods | 0.8 |
|  Passenger Airlines | 0.8 |
|  Construction Materials | 0.8 |
|  Building Products | 0.7 |
|  Communications Equipment | 0.7 |
|  Marine Transportation | 0.6 |
|  Retail REITs | 0.6 |
|  Chemicals | 0.6 |
|  Commercial Services & Supplies | 0.5 |
|  Electronic Equipment, Instruments & Components | 0.5 |
|  Financial Services | 0.5 |
|  Health Care Providers & Services | 0.4 |
|  Professional Services | 0.4 |
|  Independent Power & Renewable Electricity Producers | 0.3 |
|  Diversified REITs | 0.3 |

---

---

| | |
|:---|:---|
|  Leisure Products | 0.2% |
|  Trading Companies & Distributors | 0.2 |
|  Health Care Equipment & Supplies | 0.2 |
|  Energy Equipment & Services | 0.1 |
|  Media | 0.1 |
|  Industrial REITs | 0.1 |
|  Life Sciences Tools & Services | 0.1 |
|  Gas Utilities | 0.1 |
|  Air Freight & Logistics | 0.0 \* |
|  Distributors | 0.0 \* |
|  | 114.8 |
|  Liabilities in excess of other assets | (14.8) |
|  | 100.0% |

---

\* Less than 0.05% 

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

Fair values of derivative instruments as of April 30, 2025 as presented in the Statement of Assets and Liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| **Derivatives not accounted for as**<br> **hedging instruments, carried at fair**<br> **value**  | **Statement of**<br> **Assets and<br>Liabilities Location** | **Fair<br>Value** | **Statement of**<br> **Assets and<br>Liabilities Location** | **Fair<br>Value** |
|  Equity contracts | Due from/to broker-variation margin futures | $31818 \* |  | $— |

---

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

See Notes to Financial Statements.

PGIM Quant Solutions International Equity Fund 79

------

PGIM Quant Solutions International Equity Fund

Schedule of Investments (unaudited) (continued)

as of April 30, 2025

The effects of derivative instruments on the Statement of Operations for the six months ended April 30, 2025 are as follows:

---

| | |
|:---|:---|
| **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** |
| **Derivatives not accounted for as hedging**<br> **instruments, carried at fair value** | **Futures** |
|  Equity contracts | $85615 |

---

---

| | |
|:---|:---|
| **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** |
| **Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value** | **Futures** |
|  Equity contracts | $68843 |

---

For the six months ended April 30, 2025, the Fund's average volume of derivative activities is as follows:

---

| | |
|:---|:---|
| **Derivative Contract Type** | **Average Volume of Derivative Activities\*** |
|  Futures Contracts - Long Positions (1) | $4021672 |

---

\* Average volume is based on average quarter end balances for the six months ended April 30, 2025.

(1) Notional Amount in USD.

#### 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**<br> **Value of**<br> **Recognized**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets/(Liabilities)**  | **Collateral**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pledged/(Received)(1)**  | **Net** <br> **Amount**  |
|  Securities on Loan | $8919083 | $(8919083) | $— |

---

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

---

| |
|:---|
| See Notes to Financial Statements. |
| 80 |

---

------

PGIM Quant Solutions International Equity Fund

Statement of Assets & Liabilities (unaudited)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value, including securities on loan of $8,919,083: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $206,481,782) | $239703987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $40,749,207) | 40749441 |
| &nbsp;&nbsp; Foreign currency, at value (cost $547,813) | 549473 |
| &nbsp;&nbsp; Receivable for investments sold | 10321729 |
| &nbsp;&nbsp; Tax reclaim receivable | 894359 |
| &nbsp;&nbsp; Dividends and interest receivable | 666018 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 65020 |
| &nbsp;&nbsp; Foreign capital gains tax benefit accrued | 14905 |
| &nbsp;&nbsp; Prepaid expenses and other assets | 19972 |
| &nbsp;&nbsp; **Total Assets** | 292984904 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Payable for investments purchased | 39171895 |
| &nbsp;&nbsp; Payable to broker for collateral for securities on loan | 9115063 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 146533 |
| &nbsp;&nbsp; Management fee payable | 96014 |
| &nbsp;&nbsp; Due to broker—variation margin futures | 85940 |
| &nbsp;&nbsp; Payable for Fund shares purchased | 69416 |
| &nbsp;&nbsp; Distribution fee payable | 34807 |
| &nbsp;&nbsp; Affiliated transfer agent fee payable | 32408 |
| &nbsp;&nbsp; Directors' fees payable | 1004 |
| &nbsp;&nbsp; **Total Liabilities** | 48753080 |
| &nbsp;&nbsp; **Net Assets** | $244231824 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 207457998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | 36773531 |
| &nbsp;&nbsp; **Net assets, April 30, 2025** | $244231824 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Quant Solutions International Equity Fund 81 |

---

------

PGIM Quant Solutions International Equity Fund

Statement of Assets & Liabilities (unaudited) (continued)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp; Net asset value and redemption price per share,<br> ($144,513,850 ÷ 17,502,460 shares of common stock issued and outstanding) | $8.26 |
| &nbsp;&nbsp; Maximum sales charge (5.50% of offering price) | 0.48 |
| &nbsp;&nbsp; Maximum offering price to public | $8.74 |
| &nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($1,118,918 ÷ 144,383 shares of common stock issued and outstanding) | $7.75 |
| &nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($17,865,428 ÷ 2,140,424 shares of common stock issued and outstanding) | $8.35 |
| &nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($80,733,628 ÷ 9,663,537 shares of common stock issued and outstanding) | $8.35 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 82 |

---

------

PGIM Quant Solutions International Equity Fund

Statement of Operations (unaudited)

Six Months Ended April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** |  |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Unaffiliated dividend income (net of $219,687 foreign withholding tax) | $3297208 |
| &nbsp;&nbsp; Affiliated dividend income | 65654 |
| &nbsp;&nbsp; Interest income | 9121 |
| &nbsp;&nbsp; Affiliated income from securities lending, net | 1127 |
| &nbsp;&nbsp; **Total income** | 3373110 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 713652 |
| &nbsp;&nbsp; Distribution fee(a) | 211660 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $110,330)(a) | 223214 |
| &nbsp;&nbsp; Custodian and accounting fees | 75845 |
| &nbsp;&nbsp; Shareholders' reports | 27336 |
| &nbsp;&nbsp; Professional fees | 26935 |
| &nbsp;&nbsp; Registration fees(a) | 21609 |
| &nbsp;&nbsp; Audit fee | 15498 |
| &nbsp;&nbsp; Directors' fees | 6030 |
| &nbsp;&nbsp; Miscellaneous | 18834 |
| &nbsp;&nbsp; **Total expenses** | 1340613 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (150376) |
| &nbsp;&nbsp; **Net expenses** | 1190237 |
| &nbsp;&nbsp; Net investment income (loss) | 2182873 |
| &nbsp;&nbsp; **Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions** |  |
| &nbsp;&nbsp; Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment transactions (including affiliated of $(492)) (net of foreign capital gains taxes $(45426)) | 8090685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures transactions | 85615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | (72141) |
|  | 8104159 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (including affiliated of $233) (net of change in foreign capital gains taxes $365,237) | 6625094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | 68843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 132034 |
|  | 6825971 |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | 14930130 |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $17113003 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class Z** | **Class R6** |
|  Distribution fee | 206237 | 5423 |  |  |
|  Transfer agent's fees and expenses | 207750 | 3330 | 10758 | 1376 |
|  Registration fees | 7519 | 4002 | 4624 | 5464 |
|  Fee waiver and/or expense reimbursement | (101965) | (3207) | (12393) | (32811) |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| PGIM Quant Solutions International Equity Fund 83 |

---

------

PGIM Quant Solutions International Equity Fund

Statements of Changes in Net Assets (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended<br>April 30, 2025** | **Year Ended<br>October 31, 2024** |
| &nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $2182873 | $5524308 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | 8104159 | 16352958 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | 6825971 | 27075139 |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 17113003 | 48952405 |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp; Class A | (4995356) | (5000495) |
| &nbsp;&nbsp; Class C | (28947) | (29693) |
| &nbsp;&nbsp; Class Z | (662835) | (508377) |
| &nbsp;&nbsp; Class R6 | (1351552) | (2045517) |
|  | (7038690) | (7584082) |
| &nbsp;&nbsp; **Fund share transactions (Net of share conversions)** |  |  |
| &nbsp;&nbsp; Net proceeds from shares sold | 58877400 | 11172730 |
| &nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 6933542 | 7485544 |
| &nbsp;&nbsp; Cost of shares purchased | (23489580) | (41128779) |
| &nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | 42321362 | (22470505) |
| &nbsp;&nbsp; Total increase (decrease) | 52395675 | 18897818 |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 191836149 | 172938331 |
| &nbsp;&nbsp; End of period | $244231824 | $191836149 |

---

---

| |
|:---|
| See Notes to Financial Statements. |
| 84 |

---

------

PGIM Quant Solutions International Equity Fund

Financial Highlights (unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class A Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,<br>2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,<br>2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $7.86 | $6.33 | $5.76 | $8.59 | $6.74 | $7.19 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.08 | 0.20 | 0.17 | 0.18 | 0.18 | 0.11 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.61 | 1.60 | 0.62 | (2.14) | 1.78 | (0.39) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.69 | 1.80 | 0.79 | (1.96) | 1.96 | (0.28) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.29) | (0.27) | (0.22) | (0.24) | (0.11) | (0.17) |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains |  |  |  | (0.63) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.29) | (0.27) | (0.22) | (0.87) | (0.11) | (0.17) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $8.26 | $7.86 | $6.33 | $5.76 | $8.59 | $6.74 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | 9.15% | 29.03% | 13.91% | (25.11)% | 29.28% | (4.07)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $144514 | $139516 | $121357 | $119053 | $176479 | $147445 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $138631 | $139142 | $130333 | $148834 | $176751 | $156952 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.39 %<sup>(d)</sup> | 1.42% | 1.54% | 1.49% | 1.43% | 1.47% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.54 %<sup>(d)</sup> | 1.58% | 1.71% | 1.63% | 1.55% | 1.64% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 2.11 %<sup>(d)</sup> | 2.68% | 2.69% | 2.65% | 2.12% | 1.58% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 59% | 111% | 111% | 99% | 104% | 128% |

---

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

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

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

(d) Annualized.

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

See Notes to Financial Statements.

PGIM Quant Solutions International Equity Fund 85

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PGIM Quant Solutions International Equity Fund

Financial Highlights (unaudited) (continued)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class C Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,<br>2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,<br>2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $7.35 | $5.93 | $5.42 | $8.13 | $6.38 | $6.86 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.03 | 0.10 | 0.07 | 0.09 | 0.07 | 0.02 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.57 | 1.49 | 0.58 | (2.02) | 1.71 | (0.38) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.60 | 1.59 | 0.65 | (1.93) | 1.78 | (0.36) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.20) | (0.17) | (0.14) | (0.15) | (0.03) | (0.12) |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains |  |  |  | (0.63) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.20) | (0.17) | (0.14) | (0.78) | (0.03) | (0.12) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $7.75 | $7.35 | $5.93 | $5.42 | $8.13 | $6.38 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | 8.41% | 27.32% | 12.11% | (25.98)% | 27.89% | (5.42)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $1119 | $1109 | $1107 | $1319 | $2335 | $2381 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $1094 | $1118 | $1279 | $1929 | $2444 | $2640 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 2.69 %<sup>(d)</sup> | 2.69% | 3.12% | 2.73% | 2.61% | 2.81% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 3.28 %<sup>(d)</sup> | 3.55% | 3.29% | 2.87% | 2.73% | 2.98% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.81 %<sup>(d)</sup> | 1.38% | 1.13% | 1.43% | 0.84% | 0.24% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 59% | 111% | 111% | 99% | 104% | 128% |

---

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

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

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

(d) Annualized.

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

See Notes to Financial Statements.

------

PGIM Quant Solutions International Equity Fund

Financial Highlights (unaudited) (continued)

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class Z Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,<br>2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,<br>2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $7.96 | $6.41 | $5.83 | $8.68 | $6.81 | $7.26 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.11 | 0.23 | 0.21 | 0.22 | 0.22 | 0.13 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.60 | 1.62 | 0.62 | (2.16) | 1.79 | (0.37) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.71 | 1.85 | 0.83 | (1.94) | 2.01 | (0.24) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.32) | (0.30) | (0.25) | (0.28) | (0.14) | (0.21) |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains |  |  |  | (0.63) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.32) | (0.30) | (0.25) | (0.91) | (0.14) | (0.21) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $8.35 | $7.96 | $6.41 | $5.83 | $8.68 | $6.81 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | 9.36% | 29.60% | 14.49% | (24.82)% | 29.85% | (3.61)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $17865 | $13111 | $10955 | $11635 | $16562 | $13062 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $16851 | $12718 | $12118 | $15433 | $17429 | $12955 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.96 %<sup>(d)</sup> | 1.00% | 1.04% | 1.04% | 1.01% | 1.09% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.11 %<sup>(d)</sup> | 1.22% | 1.21% | 1.18% | 1.13% | 1.26% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 2.68 %<sup>(d)</sup> | 3.10% | 3.16% | 3.20% | 2.60% | 1.97% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 59% | 111% | 111% | 99% | 104% | 128% |

---

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

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

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

(d) Annualized.

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

See Notes to Financial Statements.

PGIM Quant Solutions International Equity Fund 87

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PGIM Quant Solutions International Equity Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R6 Shares** |  |  |  |  |  |  |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** | **Year Ended October 31,** |
|  | **Six Months<br>Ended<br>April 30,**<br> **2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $7.98 | $6.43 | $5.85 | $8.70 | $6.83 | $7.27 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.11 | 0.25 | 0.23 | 0.24 | 0.25 | 0.16 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.59 | 1.61 | 0.62 | (2.16) | 1.78 | (0.38) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.70 | 1.86 | 0.85 | (1.92) | 2.03 | (0.22) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.33) | (0.31) | (0.27) | (0.30) | (0.16) | (0.22) |
| &nbsp;&nbsp;&nbsp;Distributions from net realized gains |  |  |  | (0.63) |  |  |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.33) | (0.31) | (0.27) | (0.93) | (0.16) | (0.22) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $8.35 | $7.98 | $6.43 | $5.85 | $8.70 | $6.83 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | 9.45% | 29.80% | 14.97% | (24.60)% | 29.96% | (3.26)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $80734 | $38100 | $39520 | $36684 | $59558 | $18837 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $35309 | $42010 | $46208 | $51067 | $37941 | $18273 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.78% <sup>(d)</sup> | 0.78% | 0.78% | 0.78% | 0.78% | 0.78% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.97% <sup>(d)</sup> | 0.98% | 0.97% | 0.96% | 0.94% | 1.05% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 2.87% <sup>(d)</sup> | 3.29% | 3.53% | 3.38% | 2.92% | 2.33% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(e)</sup> | 59% | 111% | 111% | 99% | 104% | 128% |

---

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

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

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

(d) Annualized.

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

See Notes to Financial Statements.

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Notes to Financial Statements (unaudited)

**1.** **Organization** 

Prudential World 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. These financial statements relate to the following series of the RIC: PGIM Jennison Emerging Markets Equity Opportunities Fund, PGIM Jennison Global Infrastructure Fund, PGIM Jennison Global Opportunities Fund, PGIM Jennison International Opportunities Fund and PGIM Quant Solutions International Equity Fund (each, a "Fund" and collectively, the "Funds"). The Funds are classified as diversified funds for purposes of the 1940 Act.

The Funds have the following investment objectives:

---

| | |
|:---|:---|
| **Fund**<br>| **Investment Objective(s)**<br>|
|  PGIM Jennison Emerging Markets Equity Opportunities Fund<br> ("Jennison Emerging Markets Equity Opportunities") | to seek long-term growth of capital |
|  PGIM Jennison Global Infrastructure Fund<br> ("Jennison Global Infrastructure") | to seek total return |
|  PGIM Jennison Global Opportunities Fund<br> ("Jennison Global Opportunities") | to seek long-term growth of capital |
|  PGIM Jennison International Opportunities Fund<br> ("Jennison International Opportunities") | to seek long-term growth of capital |
|  PGIM Quant Solutions International Equity Fund<br> ("Quant Solutions International Equity") | to seek long-term growth of capital |

---

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

The Funds follow 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 Funds in the preparation of their financial statements. The policies conform to U.S. generally accepted accounting principles ("GAAP"). The Funds consistently follow such policies in the preparation of their financial statements.

During the reporting period, the Funds 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

------

Notes to Financial Statements (unaudited) (continued)

statement disclosures only and did not affect the Funds' 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. PGIM Investments LLC ("PGIM Investments" or the "Manager") acts as each Fund's chief operating decision maker ("CODM"). The CODM has determined that each Fund has a single operating segment as the CODM monitors the operating results of each Fund as a whole and the Funds' long-term strategic asset allocation is pre-determined in accordance with the terms of their respective prospectus, based on a defined investment strategy which is executed by the Funds' subadviser.

The CODM allocates resources and assesses performance based on the operating results of each 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 Funds hold 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 Funds' 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 Funds' valuation policies and procedures for security valuation and designated PGIM Investments as the "Valuation Designee," as defined by Rule 2a-5(b) under the 1940 Act, to perform the fair value determination relating to all Funds 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 Funds to utilize independent pricing vendor services, quotations from market makers, and alternative valuation methods when market quotations are either not readily available or not deemed representative of fair value. Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.

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

Various inputs determine how the Funds' 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.

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 each 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 Funds are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars on the following basis:

------

Notes to Financial Statements (unaudited) (continued)

(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 Funds are presented at the foreign exchange rates and market values at the close of the period, the Funds do 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 Funds do 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.

Additionally, 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 Funds' 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.

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

Certain Funds invested in financial futures contracts in order to hedge their existing portfolio securities, or securities the Funds intend to purchase, against fluctuations in value caused by changes in prevailing interest rates. Should interest rates move unexpectedly, the Funds may not achieve the anticipated benefits of the financial futures contracts and may realize a

------

loss. The use of futures transactions involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates and the underlying hedged assets. Since futures contracts are exchange-traded, there is minimal counterparty credit risk to the Funds since the exchanges' clearinghouse acts as counterparty to all exchange-traded futures and guarantees the futures contracts against default.

*Master Netting Arrangements:* The RIC, on behalf of each 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 each Fund. A master netting arrangement between each Fund and the counterparty permits each Fund to offset amounts payable by each Fund to the same counterparty against amounts to be received and by the receipt of collateral from the counterparty by each Fund to cover each 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.

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

*Securities Lending:* Certain Funds lend their 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 Funds recognize income, net of any rebate and securities lending agent fees, for lending their 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

------

Notes to Financial Statements (unaudited) (continued)

payment on the Statement of Operations. The Funds also continue 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"):* Certain Funds 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 Funds become 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 each Fund's policy to continue to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute 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.

Certain Funds are subject to foreign income taxes imposed by certain countries in which it invests. Additionally, capital gains realized upon disposition of securities issued in or by certain foreign countries are subject to capital gains tax imposed by those countries. All taxes are computed in accordance with the applicable foreign tax law, and, to the extent permitted, capital losses are used to offset capital gains. Taxes attributable to income are accrued by the Funds as a reduction of income. Current and deferred tax expense

------

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

attributable to capital gains is reflected as a component of realized or change in unrealized gain/loss on securities in the accompanying financial statements. To the extent that the Funds have country specific capital loss carryforwards, such carryforwards are applied against net unrealized gains when determining the deferred tax liability. Any deferred tax liability incurred by the Funds are included in either Other liabilities or Deferred tax liability on the accompanying Statement of Assets and Liabilities.

*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** |
| &nbsp;&nbsp; **Each Fund other than Jennison Global Infrastructure:** |  |
| &nbsp;&nbsp; Net Investment Income | Annually |
| &nbsp;&nbsp; Short-Term Capital Gains | Annually |
| &nbsp;&nbsp; Long-Term Capital Gains | Annually |
| &nbsp;&nbsp; **Jennison Global Infrastructure:** |  |
| &nbsp;&nbsp; Net Investment Income | Quarterly |
| &nbsp;&nbsp; Short-Term Capital Gains | Annually |
| &nbsp;&nbsp; Long-Term Capital Gains | Annually |

---

\* Under certain circumstances, each 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 each Fund, has entered into management agreements with the Manager pursuant to which it has responsibility for all investment advisory services, including supervision of the subadviser's performance of such services, and for rendering administrative services.

The Manager has entered into subadvisory agreements with the subadvisers listed below (each a "subadviser" and collectively the "subadvisers"). The Manager pays for the services of each subadviser.

---

| | |
|:---|:---|
| **Fund** | **Subadviser(s)** |
|  Jennison Emerging Markets Equity Opportunities | Jennison Associates LLC ("Jennison")(a wholly-owned subsidiary of PGIM, Inc.) |

---

------

Notes to Financial Statements (unaudited) (continued)

---

| | |
|:---|:---|
| **Fund** | **Subadviser(s)** |
|  Jennison Global Infrastructure | Jennison |
|  Jennison Global Opportunities | Jennison |
|  Jennison International Opportunities | Jennison |
|  Quant Solutions International Equity | PGIM Quantitative Solutions LLC ("PGIM Quantitative Solutions")(a wholly-owned subsidiary of PGIM, Inc.) |

---

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

---

| | | |
|:---|:---|:---|
| **Fund** | **Management Fee** | **Effective**<br> **Management Fee,**<br> **before any waiver**<br> **and/or expense**<br> **reimbursements** |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities | 0.95% of the Fund's average daily net assets up to and including $5 billion; 0.925% of the Fund's average daily net assets exceeding $5 billion. | 0.95% |
| &nbsp;&nbsp; Jennison Global Infrastructure | 1.00% of average daily net assets up to $1 billion; 0.98% of average daily net assets from $1 billion to $3 billion; 0.96% of average daily net assets from $3 billion to $5 billion; 0.95% of average daily net assets from $5 billion to $10 billion; 0.94% of average daily net assets over $10 billion | 1.00 |
| &nbsp;&nbsp; Jennison Global Opportunities | 0.825% up to $1 billion of the Fund's average daily net assets; 0.800% over $1 billion to $5 billion of the Fund's average daily net assets; 0.780% over $5 billion to $10 billion of the Fund's average daily net assets; 0.770% over $10 billion of the Fund's average daily net assets. | 0.80 |
| &nbsp;&nbsp; Jennison International Opportunities | 0.825% up to $1 billion of the Fund's average daily net assets; 0.800% over $1 billion to $5 billion of the Fund's average daily net assets; 0.780% over $5 billion to $10 billion of the Fund's average daily net assets; 0.770% over $10 billion of the Fund's average daily net assets. | 0.80 |
| &nbsp;&nbsp; Quant Solutions International Equity | 0.75% of average daily net assets up to $2 billion; 0.70% of average daily net assets from $2 billion to $5 billion; 0.69% of average daily net assets over $5 billion | 0.75 |

---

------

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

The Manager has contractually agreed, through February 28, 2026, to limit total annual operating expenses after fee waivers and/or expense reimbursements. This contractual waiver excludes interest, brokerage, taxes (such as income and foreign withholding taxes, stamp duty and deferred tax expenses), acquired fund fees and expenses, extraordinary expenses, and certain other Fund expenses such as dividend and interest expense and broker charges on short sales.

Where applicable, the Manager agrees to waive management fees or shared operating expenses on any share class to the same extent that it waives such expenses on any other share class. In addition, total annual operating expenses for Class R6 shares will not exceed total annual operating expenses for Class Z shares. 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:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Fund Expense <br>Limitation** | **Class Expense <br>Limitation** | **Class Expense <br>Limitation** |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class A | —% | 1.30 | % |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class C |  | 2.05 |  |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class Z |  | 1.05 |  |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class R6 |  | 0.98 |  |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class A |  | 1.50 |  |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class C |  | 2.25 |  |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class Z |  | 1.17 |  |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class R6 |  | 1.17 |  |
| &nbsp;&nbsp; Jennison Global Opportunities - Class A | 0.84 | 1.08 |  |
| &nbsp;&nbsp; Jennison Global Opportunities - Class C | 0.84 |  |  |
| &nbsp;&nbsp; Jennison Global Opportunities - Class Z | 0.84 |  |  |
| &nbsp;&nbsp; Jennison Global Opportunities - Class R2 | 0.84 | 1.34 | \*\* |
| &nbsp;&nbsp; Jennison Global Opportunities - Class R4 | 0.84 | 1.09 | \*\* |
| &nbsp;&nbsp; Jennison Global Opportunities - Class R6 | 0.84 |  |  |
| &nbsp;&nbsp; Jennison International Opportunities - Class A | 0.84 | 1.09 |  |
| &nbsp;&nbsp; Jennison International Opportunities - Class C | 0.84 | 1.90 | \*\*\* |
| &nbsp;&nbsp; Jennison International Opportunities - Class R | 0.84 | 1.48 | \*\*\* |
| &nbsp;&nbsp; Jennison International Opportunities - Class Z | 0.84 | 0.90 | \*\*\* |
| &nbsp;&nbsp; Jennison International Opportunities - Class R2 | 0.84 | 1.34 | \*\* |
| &nbsp;&nbsp; Jennison International Opportunities - Class R4 | 0.84 | 1.09 | \*\* |
| &nbsp;&nbsp; Jennison International Opportunities - Class R6 | 0.84 | 0.84 | \*\*\* |
| &nbsp;&nbsp; Quant Solutions International Equity - Class A |  | 1.45 |  |
| &nbsp;&nbsp; Quant Solutions International Equity - Class C |  | 2.69 |  |
| &nbsp;&nbsp; Quant Solutions International Equity - Class Z |  | 1.00 |  |
| &nbsp;&nbsp; Quant Solutions International Equity - Class R6 |  | 0.78 |  |

---

\*\*Expense limitation applicable only to blue sky fees, shareholder service fee, and transfer agency expenses (including sub-transfer agency and networking fees).

------

Notes to Financial Statements (unaudited) (continued)

\*\*\*Expense waiver/reimbursement limited to 0.06% on an annualized basis.

The RIC, on behalf of each 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 each Fund. Each Fund compensates PIMS for distributing and servicing each 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, each Fund compensates PIMS for distribution related activities at an annual rate based on average daily net assets per class. PIMS has contractually agreed through February 28, 2026 to limit such fees on certain classes based on the average daily net assets. The distribution fees are accrued daily and payable monthly.

The Jennison Global Opportunities and Jennison International Opportunities Funds have 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.

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

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Gross Distribution Fee** | **Net Distribution Fee** | **Shareholder Service Fee** |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class A | 0.30% | 0.25% | N/A% |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class C | 1.00 | 1.00 | N/A |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class Z | N/A | N/A | N/A |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class R6 | N/A | N/A | N/A |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class A | 0.30 | 0.25 | N/A |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class C | 1.00 | 1.00 | N/A |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class Z | N/A | N/A | N/A |

---

------

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

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Gross Distribution Fee** | **Net Distribution Fee** | **Shareholder Service Fee** |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class R6 | N/A% | N/A% | N/A% |
| &nbsp;&nbsp; Jennison Global Opportunities - Class A | 0.30 | 0.25 | N/A |
| &nbsp;&nbsp; Jennison Global Opportunities - Class C | 1.00 | 1.00 | N/A |
| &nbsp;&nbsp; Jennison Global Opportunities - Class Z | N/A | N/A | N/A |
| &nbsp;&nbsp; Jennison Global Opportunities - Class R2 | 0.25 | 0.25 | 0.10 |
| &nbsp;&nbsp; Jennison Global Opportunities - Class R4 | N/A | N/A | 0.10 |
| &nbsp;&nbsp; Jennison Global Opportunities - Class R6 | N/A | N/A | N/A |
| &nbsp;&nbsp; Jennison International Opportunities - Class A | 0.30 | 0.25 | N/A |
| &nbsp;&nbsp; Jennison International Opportunities - Class C | 1.00 | 1.00 | N/A |
| &nbsp;&nbsp; Jennison International Opportunities - Class R | 0.75 | 0.50 | N/A |
| &nbsp;&nbsp; Jennison International Opportunities - Class Z | N/A | N/A | N/A |
| &nbsp;&nbsp; Jennison International Opportunities - Class R2 | 0.25 | 0.25 | 0.10 |
| &nbsp;&nbsp; Jennison International Opportunities - Class R4 | N/A | N/A | 0.10 |
| &nbsp;&nbsp; Jennison International Opportunities - Class R6 | N/A | N/A | N/A |
| &nbsp;&nbsp; Quant Solutions International Equity - Class A | 0.30 | 0.30 | N/A |
| &nbsp;&nbsp; Quant Solutions International Equity - Class C | 1.00 | 1.00 | N/A |
| &nbsp;&nbsp; Quant Solutions International Equity - Class Z | N/A | N/A | N/A |
| &nbsp;&nbsp; Quant Solutions International Equity - Class R6 | N/A | N/A | N/A |

---

The RIC, on behalf of each Fund, has entered into brokerage commission recapture agreements with certain registered broker-dealers. Under the brokerage commission recapture program, a portion of the commission is returned to the Fund on whose behalf the trades were made. Commission recapture is paid solely to the Fund generating the applicable trades. Such amounts are included within realized gain (loss) on investment transactions presented in the Statement of Operations. For the reporting period ended April 30, 2025, brokerage commissions recaptured under these agreements was as follows:

---

| | |
|:---|:---|
| **Fund** | **Amount** |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities | $15620 |

---

------

Notes to Financial Statements (unaudited) (continued)

---

| | |
|:---|:---|
| **Fund** | **Amount** |
| &nbsp;&nbsp; Jennison Global Infrastructure | $1427 |
| &nbsp;&nbsp; Jennison Global Opportunities | 94581 |
| &nbsp;&nbsp; Jennison International Opportunities | 14786 |

---

For the reporting period ended April 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:

---

| | | |
|:---|:---|:---|
| **Fund** | **FESL** | **CDSC** |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class A | $23008 | $67 |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class C |  | 294 |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class A | 22718 |  |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class C |  |  |
| &nbsp;&nbsp; Jennison Global Opportunities - Class A | 424457 | 1454 |
| &nbsp;&nbsp; Jennison Global Opportunities - Class C |  | 9320 |
| &nbsp;&nbsp; Jennison International Opportunities - Class A | 56211 | 998 |
| &nbsp;&nbsp; Jennison International Opportunities - Class C |  | 645 |
| &nbsp;&nbsp; Quant Solutions International Equity - Class A | 13444 | 104 |
| &nbsp;&nbsp; Quant Solutions International Equity - Class C |  | 10 |

---

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

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

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

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

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

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

---

| | | |
|:---|:---|:---|
| **Fund** | **Cost of<br>Purchases** | **Proceeds**<br> **from Sales** |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities | $436276085 | $396554480 |
| &nbsp;&nbsp; Jennison Global Infrastructure | 22173997 | 25638332 |
| &nbsp;&nbsp; Jennison Global Opportunities | 4765933787 | 5222095910 |
| &nbsp;&nbsp; Jennison International Opportunities | 2653804877 | 2902259949 |
| &nbsp;&nbsp; Quant Solutions International Equity | 149210498 | 114337471 |

---

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

#### Jennison Emerging Markets Equity Opportunities:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value,**<br> **Beginning**<br> **of**<br> **Period** | **Cost of<br>Purchases** | **Proceeds<br>from Sales** | **Change in<br>Unrealized<br>Gain**<br> (Loss) | **Realized<br>Gain<br>(Loss)** | **Value,**<br> **End of**<br> **Period** | **Shares,<br>End**<br> **of**<br> **Period** | **Income** |
|  **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:** | **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 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> |
| $25938415 | $308089323 | $328947134 | $— | $— | $5080604 | 5080604 | $531309 |
|  PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1267711 | 594135961 | 527246003 | 6819 | (21520) | 68142968 | 68190701 | 79730<sup>(2)</sup> |
| $27206126 | $902225284 | $856193137 | $6819 | $(21520) | $73223572 |  | $611039 |

---

#### Jennison Global Infrastructure:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value,**<br> **Beginning**<br> **of**<br> **Period** | **Cost of<br>Purchases** | **Proceeds<br>from Sales** | **Change in<br>Unrealized<br>Gain**<br> (Loss) | **Realized<br>Gain<br>(Loss)** | **Value,**<br> **End of**<br> **Period** | **Shares,<br>End**<br> **of**<br> **Period** | **Income** |
|  **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:** | **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 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> |
| $1878083 | $13866340 | $15098474 | $— | $— | $645949 | 645949 | $18513 |

---

------

Notes to Financial Statements (unaudited) (continued)

#### Jennison Global Infrastructure (cont'd.):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value,**<br> **Beginning**<br> **of**<br> **Period** | **Cost of<br>Purchases** | **Proceeds<br>from Sales** | **Change in<br>Unrealized<br>Gain**<br> (Loss) | **Realized<br>Gain<br>(Loss)** | **Value,**<br> **End of**<br> **Period** | **Shares,<br>End**<br> **of**<br> **Period** | **Income** |
|  PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> |
| $— | $26753419 | $25841818 | $92 | $38 | $911731 | 912370 | $3990<sup>(2)</sup> |
| $1878083 | $40619759 | $40940292 | $92 | $38 | $1557680 |  | $22503 |

---

#### Jennison Global Opportunities :

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value,**<br> **Beginning**<br> **of**<br> **Period** | **Cost of<br>Purchases** | **Proceeds<br>from Sales** | **Change in<br>Unrealized<br>Gain**<br> (Loss) | **Realized<br>Gain<br>(Loss)** | **Value,**<br> **End of**<br> **Period** | **Shares,**<br> **End**<br> **of**<br> **Period** | **Income** |
|  **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:** | **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 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> |
| $126104871 | $2670921553 | $2509781607 | $— | $— | $287244817 | 287244817 | $4173029 |
|  PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;130312596 | 1133745883 | 1004132469 | 23619 | (4311) | 259945318 | 260127407 | 88116<sup>(2)</sup> |
| $256417467 | $3804667436 | $3513914076 | $23619 | $(4311) | $547190135 |  | $4261145 |

---

#### Jennison International Opportunities:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value,**<br> **Beginning**<br> **of**<br> **Period** | **Cost of<br>Purchases** | **Proceeds**<br> **from Sales** | **Change in<br>Unrealized<br>Gain<br>(Loss)** | **Realized<br>Gain<br>(Loss)** | **Value,**<br> **End of**<br> **Period** | **Shares,**<br> **End**<br> **of**<br> **Period** | **Income** |
|  **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:** | **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 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> |
| $165326687 | $1916670841 | $1781008277 | $— | $— | $300989251 | 300989251 | $4229038 |
|  PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> |
| 247183105 | 748439939 | 770737443 | 20859 | (25525) | 224880935 | 225038461 | 112605<sup>(2)</sup> |
| $412509792 | $2665110780 | $2551745720 | $20859 | $(25525) | $525870186 |  | $4341643 |

---

------

#### Quant Solutions International Equity:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value,**<br> **Beginning**<br> **of**<br> **Period** | **Cost of<br>Purchases** | **Proceeds<br>from Sales** | **Change in<br>Unrealized<br>Gain**<br> (Loss) | **Realized<br>Gain<br>(Loss)** | **Value,**<br> **End of**<br> **Period** | **Shares,<br>End**<br> **of**<br> **Period** | **Income** |
|  **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:** | **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 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> |
| $1614897 | $66167245 | $36156184 | $— | $— | $31625958 | 31625958 | $65654 |
|  PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> |
| 1278839 | 34766920 | 26922017 | 233 | (492) | 9123483 | 9129873 | 1127<sup>(2)</sup> |
| $2893736 | $100934165 | $63078201 | $233 | $(492) | $40749441 |  | $66781 |

---

(1) The Fund did not have any capital gain distributions during the reporting period.

(2) 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.

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Tax Basis** | **Gross**<br> **Unrealized**<br> **Appreciation** | **Gross**<br> **Unrealized**<br> **Depreciation** | **Net**<br> **Unrealized**<br> **Appreciation** |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities | $606995005 | $102114431 | $(26371831) | $75742600 |
| &nbsp;&nbsp; Jennison Global Infrastructure | 36032633 | 10021569 | (572464) | 9449105 |
| &nbsp;&nbsp; Jennison Global Opportunities | 4959312303 | 1575369734 | (195890401) | 1379479333 |
| &nbsp;&nbsp; Jennison International Opportunities | 4012849214 | 1412638904 | (84732038) | 1327906866 |
| &nbsp;&nbsp; Quant Solutions International Equity | 247339453 | 41720502 | (8574709) | 33145793 |

---

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

For federal income tax purposes, the following Funds had an approximated capital loss carryforward as of October 31, 2024 which can be carried forward for an unlimited period. No capital gains distributions are expected to be paid to shareholders until net gains have been realized in excess of such losses.

---

| | | |
|:---|:---|:---|
| **Fund** | **Capital Loss**<br> **Carryforward** | **Capital Loss**<br> **Carryforward Utilized**  |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities | $519686000 | $65097000 |
| &nbsp;&nbsp; Jennison Global Infrastructure |  | 1234000 |

---

------

Notes to Financial Statements (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Fund** | **Capital Loss**<br> **Carryforward** | **Capital Loss**<br> **Carryforward Utilized** |
| &nbsp;&nbsp; Jennison Global Opportunities | $— | $557388000 |
| &nbsp;&nbsp; Jennison International Opportunities | 1288144000 | 74233000 |
| &nbsp;&nbsp; Quant Solutions International Equity | 4346000 | 15342000 |

---

The Funds indicated below elected to treat the below approximated losses as having been incurred in the following fiscal year (October 31, 2025).

---

| | | |
|:---|:---|:---|
| **Fund** | **Qualified Late-Year**<br> **Losses** | **Post-October**<br> **Capital Losses** |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities | $— | $— |
| &nbsp;&nbsp; Jennison Global Infrastructure |  |  |
| &nbsp;&nbsp; Jennison Global Opportunities | 15649000 |  |
| &nbsp;&nbsp; Jennison International Opportunities |  |  |
| &nbsp;&nbsp; Quant Solutions International Equity |  |  |

---

The Manager has analyzed the Funds' 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 Funds' financial statements for the current reporting period. Since tax authorities can examine previously filed tax returns, the Funds' U.S. federal and state tax returns for each of the four fiscal years up to the most recent fiscal year ended October 31, 2024 are subject to such review.

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

The Jennison Emerging Markets Equity Opportunity Fund, Jennison Global Infrastructure Fund and Quant Solutions International Equity Fund offer Class A, Class C, Class Z and Class R6 shares. The Jennison Global Opportunities Fund offers Class A, Class C, Class Z, Class R2, Class R4 and Class R6 shares. The Jennison International Opportunities 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 those 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 (ten years prior to January 22, 2021) 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 each Fund to one or more other share classes of each Fund as presented in the table of transactions in shares of beneficial interest, below.

The RIC is authorized to issue 10,225,000,000 shares of common stock, $0.00001 par value per share. The authorized shares of each Fund are currently classified and designated as follows:

---

| | |
|:---|:---|
| **Fund**<br>| **Number of Shares**  |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class A | 25000000 |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class C | 65000000 |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class Z | 300000000 |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class T | 225000000 |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities - Class R6 | 250000000 |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class A | 20000000 |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class C | 100000000 |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class Z | 150000000 |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class T | 115000000 |
| &nbsp;&nbsp; Jennison Global Infrastructure - Class R6 | 125000000 |
| &nbsp;&nbsp; Jennison Global Opportunities - Class A | 150000000 |
| &nbsp;&nbsp; Jennison Global Opportunities - Class C | 100000000 |
| &nbsp;&nbsp; Jennison Global Opportunities - Class Z | 2000000000 |
| &nbsp;&nbsp; Jennison Global Opportunities - Class R2 | 100000000 |
| &nbsp;&nbsp; Jennison Global Opportunities - Class R4 | 100000000 |
| &nbsp;&nbsp; Jennison Global Opportunities - Class R6 | 1000000000 |
| &nbsp;&nbsp; Jennison International Opportunities - Class A | 150000000 |
| &nbsp;&nbsp; Jennison International Opportunities - Class C | 100000000 |
| &nbsp;&nbsp; Jennison International Opportunities - Class R | 100000000 |
| &nbsp;&nbsp; Jennison International Opportunities - Class Z | 2000000000 |
| &nbsp;&nbsp; Jennison International Opportunities - Class R2 | 100000000 |
| &nbsp;&nbsp; Jennison International Opportunities - Class R4 | 100000000 |
| &nbsp;&nbsp; Jennison International Opportunities - Class R6 | 1000000000 |
| &nbsp;&nbsp; Quant Solutions International Equity - Class A | 100000000 |
| &nbsp;&nbsp; Quant Solutions International Equity - Class B | 5000000 |
| &nbsp;&nbsp; Quant Solutions International Equity - Class C | 100000000 |
| &nbsp;&nbsp; Quant Solutions International Equity - Class Z | 180000000 |
| &nbsp;&nbsp; Quant Solutions International Equity - Class T | 135000000 |
| &nbsp;&nbsp; Quant Solutions International Equity - Class R6 | 180000000 |

---

The Funds currently do not have any Class B or Class T shares outstanding.

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

---

| | | |
|:---|:---|:---|
| **Fund** | **Number of Shares** | **Percentage of**<br> **Outstanding Shares**  |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities–Class Z | 86975 | 0.5% |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities–Class R6 | 3217240 | 17.9 |

---

------

Notes to Financial Statements (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Fund** | **Number of Shares** | **Percentage of**<br> **Outstanding Shares**  |
| &nbsp;&nbsp; Jennison Global Infrastructure–Class R6 | 545077 | 85.7% |
| &nbsp;&nbsp; Jennison Global Opportunities –Class Z | 51891 | 0.1 |
| &nbsp;&nbsp; Jennison Global Opportunities –Class R2 | 571 | 0.1 |
| &nbsp;&nbsp; Jennison Global Opportunities –Class R4 | 570 | 4.1 |
| &nbsp;&nbsp; Jennison International Opportunities–Class Z | 19815 | 0.1 |
| &nbsp;&nbsp; Jennison International Opportunities–Class R2 | 663 | 0.1 |
| &nbsp;&nbsp; Jennison International Opportunities–Class R4 | 663 | 0.2 |
| &nbsp;&nbsp; Jennison International Opportunities–Class R6 | 1585508 | 3.0 |
| &nbsp;&nbsp; Quant Solutions International Equity–Class Z | 11143 | 0.5 |
| &nbsp;&nbsp; Quant Solutions International Equity–Class R6 | 8476711 | 87.7 |

---

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

---

| | | |
|:---|:---|:---|
| **Fund** | **Number of Shareholders** | **Percentage of Outstanding Shares** |
| &nbsp;&nbsp; **Affiliated:** |  |  |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities |  | —% |
| &nbsp;&nbsp; Jennison Global Infrastructure | 1 | 17.8 |
| &nbsp;&nbsp; Jennison Global Opportunities |  |  |
| &nbsp;&nbsp; Jennison International Opportunities |  |  |
| &nbsp;&nbsp; Quant Solutions International Equity | 2 | 29.0 |
| &nbsp;&nbsp; **Unaffiliated:** |  |  |
| &nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities | 5 | 71.1 |
| &nbsp;&nbsp; Jennison Global Infrastructure | 4 | 63.3 |
| &nbsp;&nbsp; Jennison Global Opportunities | 6 | 74.9 |
| &nbsp;&nbsp; Jennison International Opportunities | 8 | 85.8 |
| &nbsp;&nbsp; Quant Solutions International Equity | 2 | 19.4 |

---

Transactions in shares of common stock were as follows:

#### Jennison Emerging Markets Equity Opportunities:

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 176999 | $3035211 |
| &nbsp;&nbsp; Shares purchased | (316243) | (5438895) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (139244) | (2403684) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 32145 | 556974 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (29974) | (514531) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (137073) | $(2361241) |

---

------

#### Jennison Emerging Markets Equity Opportunities (cont'd.):

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 450285 | $6913899 |
| &nbsp;&nbsp; Shares purchased | (609502) | (9219159) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (159217) | (2305260) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 20740 | 312670 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (137639) | (2168467) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (276116) | $(4161057) |
| &nbsp;&nbsp; **Class C** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 15782 | $248526 |
| &nbsp;&nbsp; Shares purchased | (22533) | (358391) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (6751) | (109865) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (9786) | (155811) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (16537) | $(265676) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 31092 | $423233 |
| &nbsp;&nbsp; Shares purchased | (72683) | (1031765) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (41591) | (608532) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (22935) | (328749) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (64526) | $(937281) |
| &nbsp;&nbsp; **Class Z** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 2596730 | $45710370 |
| &nbsp;&nbsp; Shares purchased | (3655111) | (63667036) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (1058381) | (17956666) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 28936 | 513257 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (26558) | (471811) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (1056003) | $(17915220) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 6748483 | $109362353 |
| &nbsp;&nbsp; Shares purchased | (9161873) | (142792973) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (2413390) | (33430620) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 172875 | 2760020 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (63768) | (1043467) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (2304283) | $(31714067) |

---

------

Notes to Financial Statements (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class R6** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 7204471 | $127091680 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 5473 | 99283 |
| &nbsp;&nbsp; Shares purchased | (4730923) | (82478471) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 2479021 | 44712492 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 15162 | 264187 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (10842) | (192265) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 2483341 | $44784414 |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 3211798 | $50030678 |
| &nbsp;&nbsp; Shares purchased | (7185286) | (112336504) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (3973488) | (62305826) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 60567 | 1006686 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (34752) | (538693) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (3947673) | $(61837833) |

---

#### Jennison Global Infrastructure:

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 34912 | $587652 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 29749 | 476223 |
| &nbsp;&nbsp; Shares purchased | (52666) | (865556) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 11995 | 198319 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 14643 | 238524 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (784) | (12216) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 25854 | $424627 |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 21904 | $344282 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 6961 | 111287 |
| &nbsp;&nbsp; Shares purchased | (97641) | (1515448) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (68776) | (1059879) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 36577 | 546722 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (10254) | (156769) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (42453) | $(669926) |

---

------

#### Jennison Global Infrastructure (cont'd.):

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class C** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 6133 | $101721 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 5269 | 82340 |
| &nbsp;&nbsp; Shares purchased | (9329) | (154665) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 2073 | 29396 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (15723) | (250950) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (13650) | $(221554) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 7890 | $123483 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 688 | 10822 |
| &nbsp;&nbsp; Shares purchased | (22691) | (336176) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (14113) | (201871) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (41123) | (605369) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (55236) | $(807240) |
| &nbsp;&nbsp; **Class Z** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 187734 | $3139036 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 60305 | 966847 |
| &nbsp;&nbsp; Shares purchased | (301444) | (5017495) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (53405) | (911612) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 1516 | 24642 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (51889) | $(886970) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 725278 | $11577424 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 15397 | 246097 |
| &nbsp;&nbsp; Shares purchased | (471663) | (7354887) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 269012 | 4468634 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 13956 | 215416 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (120233) | (2065156) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 162735 | $2618894 |
| &nbsp;&nbsp; **Class R6** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 72623 | $1193415 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 34046 | 545740 |
| &nbsp;&nbsp; Shares purchased | (226308) | (3706956) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (119639) | $(1967801) |

---

------

Notes to Financial Statements (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 284924 | $4418488 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 10029 | 160554 |
| &nbsp;&nbsp; Shares purchased | (391432) | (5975346) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (96479) | (1396304) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 120233 | 2065156 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 23754 | $668852 |

---

#### Jennison Global Opportunities :

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 904841 | $39636429 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 722813 | 33393961 |
| &nbsp;&nbsp; Shares purchased | (1553910) | (68120777) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 73744 | 4909613 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 510151 | 22202908 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (267495) | (11741746) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 316400 | $15370775 |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 2154472 | $90394477 |
| &nbsp;&nbsp; Shares purchased | (2723638) | (115243189) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (569166) | (24848712) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 1163940 | 49566364 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (395404) | (17204263) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 199370 | $7513389 |
| &nbsp;&nbsp; **Class C** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 293366 | $11488832 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 402421 | 16519362 |
| &nbsp;&nbsp; Shares purchased | (561450) | (21601164) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 134337 | 6407030 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (537461) | (20847610) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (403124) | $(14440580) |

---

------

#### Jennison Global Opportunities (cont'd.):

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 736123 | $27948533 |
| &nbsp;&nbsp; Shares purchased | (984612) | (37647339) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (248489) | (9698806) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (938643) | (35733926) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (1187132) | $(45432732) |
| &nbsp;&nbsp; **Class Z** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 8775917 | $392356053 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 3343292 | 159073810 |
| &nbsp;&nbsp; Shares purchased | (12176912) | (538222785) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (57703) | 13207078 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 323870 | 14746466 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (169366) | (7730716) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 96801 | $20222828 |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 17136074 | $746363657 |
| &nbsp;&nbsp; Shares purchased | (15560987) | (681094257) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 1575087 | 65269400 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 519149 | 22963081 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (1748191) | (81154583) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 346045 | $7077898 |
| &nbsp;&nbsp; **Class R2** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 11913 | $524922 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 19407 | 902989 |
| &nbsp;&nbsp; Shares purchased | (29943) | (1319903) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 1377 | $108008 |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 29075 | $1263230 |
| &nbsp;&nbsp; Shares purchased | (48036) | (2013166) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (18961) | $(749936) |
| &nbsp;&nbsp; **Class R4** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 970 | $44145 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 640 | 30299 |
| &nbsp;&nbsp; Shares purchased | (733) | (36635) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 877 | $37809 |

---

------

Notes to Financial Statements (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 1752 | $78584 |
| &nbsp;&nbsp; Shares purchased | (484) | (23137) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 1268 | $55447 |
| &nbsp;&nbsp; **Class R6** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 6814414 | $311456461 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 2710896 | 130339895 |
| &nbsp;&nbsp; Shares purchased | (10093065) | (452212227) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (567755) | (10415871) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 108976 | 5111293 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (36575) | (1740595) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (495354) | $(7045173) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 9885925 | $440309472 |
| &nbsp;&nbsp; Shares purchased | (18225373) | (804789088) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (8339448) | (364479616) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 1355768 | 64512150 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (66181) | (2948823) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (7049861) | $(302916289) |

---

#### Jennison International Opportunities:

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 631774 | $19448636 |
| &nbsp;&nbsp; Shares purchased | (725647) | (22058930) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (93873) | (2610294) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 103149 | 3196681 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (89503) | (2751032) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (80227) | $(2164645) |

---

------

#### Jennison International Opportunities (cont'd.):

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 1328695 | $39147874 |
| &nbsp;&nbsp; Shares purchased | (1216391) | (35853128) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 112304 | 3294746 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 280468 | 8296188 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (449941) | (13656985) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (57169) | $(2066051) |
| &nbsp;&nbsp; **Class C** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 52706 | $1484244 |
| &nbsp;&nbsp; Shares purchased | (104490) | (2886000) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (51784) | (1401756) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (34199) | (959421) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (85983) | $(2361177) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 109487 | $2937905 |
| &nbsp;&nbsp; Shares purchased | (204195) | (5447001) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (94708) | (2509096) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (68294) | (1799492) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (163002) | $(4308588) |
| &nbsp;&nbsp; **Class R** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 543857 | $15980282 |
| &nbsp;&nbsp; Shares purchased | (904128) | (27172719) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (360271) | $(11192437) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 85528 | $2546799 |
| &nbsp;&nbsp; Shares purchased | (1873050) | (54620518) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (1787522) | $(52073719) |
| &nbsp;&nbsp; **Class Z** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 19522774 | $610102676 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 71349 | 2162599 |
| &nbsp;&nbsp; Shares purchased | (18011126) | (559754340) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 1582997 | 52510935 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 904839 | 28182935 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (132164) | (4195120) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 2355672 | $76498750 |

---

------

Notes to Financial Statements (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 26480357 | $798325813 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 85081 | 2377160 |
| &nbsp;&nbsp; Shares purchased | (27432735) | (818893411) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (867297) | (18190438) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 694317 | 21574995 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (1462434) | (46219722) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (1635414) | $(42835165) |
| &nbsp;&nbsp; **Class R2** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 59152 | $1808810 |
| &nbsp;&nbsp; Shares purchased | (62894) | (1907893) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (3742) | $(99083) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 130139 | $3827247 |
| &nbsp;&nbsp; Shares purchased | (158218) | (4812767) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (28079) | $(985520) |
| &nbsp;&nbsp; **Class R4** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 27705 | $858502 |
| &nbsp;&nbsp; Shares purchased | (68091) | (2114226) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (40386) | $(1255724) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 245484 | $7562424 |
| &nbsp;&nbsp; Shares purchased | (255757) | (7733787) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (10273) | $(171363) |
| &nbsp;&nbsp; **Class R6** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 7942348 | $249455231 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 72074 | 2190314 |
| &nbsp;&nbsp; Shares purchased | (11962280) | (375667531) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (3947858) | (124021986) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 85672 | 2725261 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (838973) | (26199304) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (4701159) | $(147496029) |

---

------

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 14694149 | $446335168 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 78328 | 2194755 |
| &nbsp;&nbsp; Shares purchased | (16163380) | (489563780) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (1390903) | (41033857) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 1280718 | 40859112 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (288557) | (9054096) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (398742) | $(9228841) |
| Quant Solutions International Equity: |  |  |
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 210406 | $1662545 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 662637 | 4903516 |
| &nbsp;&nbsp; Shares purchased | (1081927) | (8478130) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (208884) | (1912069) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 5994 | 46843 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (35039) | (270869) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (237929) | $(2136095) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 155805 | $1154222 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 724772 | 4913951 |
| &nbsp;&nbsp; Shares purchased | (2197115) | (16338800) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (1316538) | (10270627) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 27672 | 196631 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (133284) | (991356) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (1422150) | $(11065352) |
| &nbsp;&nbsp; **Class C** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 6756 | $49669 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 4145 | 28934 |
| &nbsp;&nbsp; Shares purchased | (11883) | (88380) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (982) | (9777) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (5505) | (40673) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (6487) | $(50450) |

---

------

Notes to Financial Statements (unaudited) (continued)

#### Quant Solutions International Equity (cont'd.):

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 10216 | $71872 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 4632 | 29693 |
| &nbsp;&nbsp; Shares purchased | (21216) | (142746) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (6368) | (41181) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (29465) | (196631) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (35833) | $(237812) |
| &nbsp;&nbsp; **Class Z** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 1046391 | $8359777 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 86953 | 649541 |
| &nbsp;&nbsp; Shares purchased | (786795) | (6146944) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 346549 | 2862374 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 153236 | 1202961 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (6128) | (47616) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 493657 | $4017719 |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 94501 | $704240 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 72571 | 496383 |
| &nbsp;&nbsp; Shares purchased | (335304) | (2472767) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (168232) | (1272144) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 112729 | 847195 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (6122) | (45611) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (61625) | $(470560) |
| &nbsp;&nbsp; **Class R6** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 5923667 | $48805409 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 180931 | 1351551 |
| &nbsp;&nbsp; Shares purchased | (1102143) | (8776126) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 5002455 | 41380834 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 7959 | 62149 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (120937) | (952795) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 4889477 | $40490188 |

---

------

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 1247045 | $9242396 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 299052 | 2045517 |
| &nbsp;&nbsp; Shares purchased | (2946939) | (22174466) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (1400842) | (10886553) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 25247 | 189772 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (1375595) | $(10696781) |

---

8. Borrowings

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

---

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

---

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

The Funds indicated below utilized the SCA during the reporting period ended April 30, 2025. The average balance outstanding is for the number of days the Funds utilized the SCA.

------

Notes to Financial Statements (unaudited) (continued)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Average<br>Balance<br>Outstanding** | **Weighted<br>Average<br>Interest Rates** | **Number<br>of Days<br>Outstanding** | **Maximum<br>Balance<br>Outstanding** | **Balance<br>Outstanding at <br>April 30, 2025** |
| &nbsp;&nbsp;&nbsp; Jennison Emerging Markets Equity Opportunities | $1041000 | 5.45% | 1 | $1041000 | $— |
| &nbsp;&nbsp;&nbsp; Jennison Global Infrastructure | 336444 | 5.41 | 9 | 611000 |  |
| &nbsp;&nbsp;&nbsp; Jennison International Opportunities | 1047000 | 5.39 | 4 | 1047000 |  |

---

9. Risks of Investing in the Funds

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Risks** | **Jennison<br>Emerging Markets<br>Equity**<br>**Opportunities** | **Jennison**<br>**Global**<br>**Infrastructure** | **Jennison<br>Global<br>Opportunities** | **Jennison<br>International<br>Opportunities** | **Quant Solutions <br>International <br>Equity** |
| &nbsp;&nbsp; Active Trading |  |  |  |  | X |
| &nbsp;&nbsp; Blend Style |  | X |  |  |  |
| &nbsp;&nbsp; Core Style |  |  |  |  | X |
| &nbsp;&nbsp; Country | X |  | X | X |  |
| &nbsp;&nbsp; Currency | X |  | X | X | X |
| &nbsp;&nbsp; Distribution |  | X |  |  |  |
| &nbsp;&nbsp; Economic and Market Events | X | X | X | X | X |
| &nbsp;&nbsp; Emerging Markets | X | X | X | X | X |
| &nbsp;&nbsp; Equity and Equity-Related Securities | X | X | X | X | X |
| &nbsp;&nbsp; Foreign Securities | X | X | X | X | X |
| &nbsp;&nbsp; Geographic Concentration | X |  | X | X | X |
| &nbsp;&nbsp; Growth Style |  |  | X | X |  |
| &nbsp;&nbsp; Increase in Expenses | X | X | X | X | X |
| &nbsp;&nbsp; Infrastructure Companies |  | X |  |  |  |
| &nbsp;&nbsp; Investments in China | X |  |  |  |  |
| &nbsp;&nbsp; Large Shareholder and Large Scale Redemption | X | X | X | X | X |
| &nbsp;&nbsp; Liquidity |  | X | X | X | X |
| &nbsp;&nbsp; Management | X | X | X | X | X |
| &nbsp;&nbsp; Market Capitalization | X | X | X | X | X |
| &nbsp;&nbsp; Market Disruption and Geopolitical | X | X | X | X | X |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Risks** | **Jennison<br>Emerging Markets<br>Equity**<br>**Opportunities** | **Jennison**<br>**Global**<br>**Infrastructure** | **Jennison<br>Global<br>Opportunities** | **Jennison<br>International<br>Opportunities** | **Quant Solutions <br>International <br>Equity** |
| &nbsp;&nbsp; Market | X | X | X | X | X |
| &nbsp;&nbsp; Master Limited Partnerships |  | X |  |  |  |
| &nbsp;&nbsp; Real Estate Investment Trust |  | X |  |  |  |
| &nbsp;&nbsp; Sector Exposure | X |  | X | X | X |

---

*Active Trading Risk:* The Fund actively and frequently trades its portfolio securities. High portfolio turnover results in higher transaction costs, which can affect the Fund's performance and have adverse tax consequences. In addition, high portfolio turnover may also mean that a proportionately greater amount of distributions to shareholders will be taxed as ordinary income rather than long-term capital gains compared to investment companies with lower portfolio turnover.

*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. Growth and value stocks have historically produced similar long-term results, though each category has periods when it outperforms the other. 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 have a notable impact on settlement performance and other mutual funds.

*Core Style Risk:* The Fund's core 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

------

Notes to Financial Statements (unaudited) (continued)

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.

*Country Risk:* Changes in the business environment may adversely affect operating profits or the value of assets in a specific country. For example, financial factors such as currency controls, devaluation or regulatory changes or stability factors such as mass riots, civil war and other potential events may contribute to companies' operational risks.

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

*Distribution Risk:* The Fund's distributions may consist of net investment income, if any, and net realized gains, if any, from the sale of investments and/or return of capital. The Fund will provide to shareholders early in each calendar year the final tax character of the Fund's distributions for the previous year. Also, at such time that the Fund distribution is expected to be from sources other than current or accumulated net income, a notice to shareholders may be required.

*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.

*Emerging Markets Risk:* The risks of foreign investments are greater for investments in or exposed to emerging markets. Emerging market countries typically have economic and political systems that are less fully developed, and can be expected to be less stable, than those of more developed countries. For example, the economies of such countries can be subject to rapid and unpredictable rates of inflation or deflation. Low trading volumes may result in a lack of liquidity and price volatility. Emerging market countries may have policies

------

that restrict investment by non-U.S. investors, or that prevent non-U.S. investors from withdrawing their money at will.

The Fund may invest in some emerging markets that subject it to risks such as those associated with illiquidity, custody of assets, different settlement and clearance procedures and asserting legal title under a developing legal and regulatory regime to a greater degree than in developed markets or even in other emerging markets.

*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.

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

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

*Geographic Concentration Risk:* The Fund's performance may be closely tied to the market, economic, political, regulatory or other conditions in the countries or regions in which the Fund invests. This can result in more pronounced risks based upon conditions that impact one or more countries or regions more or less than other countries or regions.

*Growth Style Risk:* The Fund's growth style may subject the Fund to above-average fluctuations as a result of seeking higher than average capital growth. Historically, growth stocks have performed best during later stages of economic expansion and value stocks have performed best during periods of economic recovery. Since the Fund follows a growth investment style, there is the risk that the growth investment style may be out of favor for

------

Notes to Financial Statements (unaudited) (continued)

long periods of time. At times when the style is out of favor, the Fund may underperform the market in general, its benchmark and other mutual funds.

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

*Infrastructure Companies Risk:* Securities of infrastructure companies are more susceptible to adverse economic, social, political and regulatory occurrences than securities of companies in other industries. Infrastructure companies may be subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programs, high leverage, costs associated with environmental and other regulations, the level of government spending on infrastructure projects, the effects of economic slowdown, surplus capacity, technological changes, casualty losses, insufficient supply of necessary resources, increased competition from other providers of similar services, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors. Certain infrastructure companies may operate in limited areas or have few sources of revenue.

Infrastructure companies may also be affected by or subject to:

◾ regulation by various government authorities, including regulation of rates charged to customers;

◾ service interruption due to environmental, operational or other mishaps as well as political and social unrest;

◾ the imposition of special tariffs and changes in tax laws and accounting standards; and

◾ general changes in market sentiment towards the assets of infrastructure companies.

*Investments in China Risk:* Investments in China subject the Fund to risks specific to China and may make it more volatile than other funds. Over the last few decades, the Chinese government has undertaken reform of economic and market practices and has expanded the sphere of private ownership of property in China. However, Chinese markets generally continue to experience inefficiency, volatility and pricing anomalies resulting from governmental influence, a lack of publicly available information and/or political and social instability. Internal social unrest or confrontations with other neighboring countries,

------

including military conflicts in response to such events, may also disrupt economic development in China and result in a greater risk of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation.

China has experienced security concerns, such as terrorism and strained international relations. Incidents involving China's or the region's security may cause uncertainty in Chinese markets and may adversely affect the Chinese economy and the Fund's investments. Export growth continues to be a major driver of China's rapid economic growth. Reduction in spending on Chinese products and services, institution of additional tariffs or other trade barriers, including as a result of heightened trade tensions between China and the U.S., or a downturn in any of the economies of China's key trading partners may have an adverse impact on the Chinese economy or the Fund. For example, a series of executive orders issued between November 2020 and June 2021 prohibit the Fund from investing in certain companies identified by the U.S. government as "Chinese Military Industrial Complex Companies." The restrictions in these executive orders may force the subadviser to sell certain positions and may restrict the Fund from future investments the subadviser deems otherwise attractive.

Chinese companies, including Chinese companies that are listed on U.S. exchanges, are not subject to the same degree of regulatory requirements, accounting standards or auditor oversight as companies in more developed countries, and as a result, information about the Chinese securities in which the Fund invests may be less reliable or complete. There may be significant obstacles to obtaining information necessary for investigations into or litigation against Chinese companies and shareholders may have limited legal remedies.

*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.

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

------

Notes to Financial Statements (unaudited) (continued)

to sell a portfolio position can adversely affect the Fund's value or prevent the Fund from being able to take advantage of other investment opportunities.

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

*Market Capitalization Risk:* The Fund may invest in companies of any market capitalization. Generally, the stock prices of small- and mid-cap companies are less stable than the prices of large-cap stocks and may present greater risks. Large capitalization companies as a group could fall out of favor with the market, causing the Fund to underperform compared to investments that focus on smaller capitalized companies.

*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.

*Master Limited Partnerships Risk:* The risks of investing in an MLP are generally those involved in investing in a partnership as opposed to a corporation. For example, state law governing partnerships is often less restrictive than state law governing corporations. Accordingly, there may be fewer protections afforded investors in an MLP than investors in a corporation. Investments held by MLPs may be relatively illiquid, limiting the MLPs' ability to vary their portfolios promptly in response to changes in economic or other conditions. MLPs may have limited financial resources, their securities may trade infrequently and in limited volume, and they may be subject to more abrupt or erratic price movements than securities of larger or more broadly-based companies. The Fund's investment in MLPs also subjects the Fund to the risks associated with the specific industry or industries in which the MLPs invest, risks related to limited control and limited rights to vote on matters affecting the MLP, risks related to potential conflicts of interest between the MLP and the MLP's general partner, cash flow risks, dilution risks and risks related to the general partner's right to require unit-holders to sell their common units at an undesirable time or price. MLPs are generally considered interest-rate sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns. Since MLPs generally conduct business in multiple states, the Fund may be subject to income or franchise tax in each of the states in which the partnership does business. The additional cost of preparing and filing the tax returns and paying the related taxes may adversely impact the Fund's return on its investment in MLPs.

*Real Estate Investment Trust ("REIT") Risk:* Investing in REITs involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. REITs may be affected by changes in the value of the underlying property owned by the REITs, while mortgage REITs may be affected by the quality of any credit extended. REITs are dependent upon management skills, may not be diversified geographically or by property/mortgage asset type, and are subject to heavy cash flow dependency, default by borrowers and self-liquidation. REITs may be more volatile and/or more illiquid than other types of equity securities. REITs (especially mortgage REITs) are subject to interest rate risks. REITs may incur significant amounts of leverage. The Fund will indirectly bear a portion of the expenses, including management fees, paid by each REIT in which it invests, in addition to the expenses of the Fund.

------

Notes to Financial Statements (unaudited) (continued)

REITs must also meet certain requirements under the Internal Revenue Code of 1986, as amended (the Code) to avoid entity level tax and be eligible to pass-through certain tax attributes of their income to shareholders. REITs are consequently subject to the risk of failing to meet these requirements for favorable tax treatment and of failing to maintain their exemptions from registration under the Investment Company Act of 1940. REITs are subject to the risks of changes in the Code affecting their tax status.

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

10. Subsequent Event

Each 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 April 30, 2025.

------

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

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

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

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

------

![LOGO](g938363g01g01.jpg)

## PRUDENTIAL WORLD FUND, INC.
PGIM Emerging Markets Debt Hard Currency Fund

PGIM Emerging Markets Debt Local Currency Fund

#### FINANCIAL STATEMENTS AND OTHER INFORMATION

#### APRIL 30, 2025
![LOGO](g938363gp001.jpg)

------

<u> **Table of Contents** </u>   <u> Financial Statements and Other Information </u>   <u> April 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; [Glossary.](#edgar938363_1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [PGIM Emerging Markets Debt Hard Currency](#edgar938363_2) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [PGIM Emerging Markets Debt Local Currency](#edgar938363_3) | 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [Notes to Financial Statements](#edgar938363_4) | 100 |

---

[**Other Information -** Form N-CSR Items 8-11](#edgar938363_5)

------

#### Glossary
The following abbreviations are used in the Funds' descriptions:

BRL—Brazilian Real

CLP—Chilean Peso

CNH—Chinese Renminbi

COP—Colombian Peso

CZK—Czech Koruna

DOP—Dominican Peso

EGP—Egyptian Pound

EUR—Euro

GBP—British Pound

HUF—Hungarian Forint

IDR—Indonesian Rupiah

INR—Indian Rupee

JPY—Japanese Yen

KRW—South Korean Won

MXN—Mexican Peso

MYR—Malaysian Ringgit

PEN—Peruvian Nuevo Sol

PHP—Philippine Peso

PLN—Polish Zloty

RON—Romanian Leu

RSD—Serbian Dinar

SGD—Singapore Dollar

THB—Thai Baht

TRY—Turkish Lira

TWD—New Taiwanese Dollar

USD—US Dollar

UYU—Uruguayan Peso

ZAR—South African Rand

144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers.

A—Annual payment frequency for swaps

BARC—Barclays Bank PLC

BNP—BNP Paribas S.A.

BNY—Bank of New York Mellon

BOA—Bank of America, N.A.

BROIS—Brazil Overnight Index Swap

------

BUBOR—Budapest Interbank Offered Rate

CA—Credit Agricole Securities Inc.

CDX—Credit Derivative Index

CITI—Citibank, N.A.

CLOIS—Sinacofi Chile Interbank Rate Average

COOIS—Colombia Overnight Interbank Reference Rate

DB—Deutsche Bank AG

EMTN—Euro Medium Term Note

GMTN—Global Medium Term Note

GSI—Goldman Sachs International

HSBC—HSBC Bank PLC

JIBAR—Johannesburg Interbank Agreed Rate

JPM—JPMorgan Chase Bank N.A.

JPS—J.P. Morgan Securities LLC

KLIBOR—Kuala Lumpur Interbank Offered Rate

KWCDC—Korean Won Certificate of Deposit

M—Monthly payment frequency for swaps

MIBOR—Mumbai Interbank Offered Rate

MSI—Morgan Stanley & Co International PLC

MTN—Medium Term Note

OTC—Over-the-counter

PIK—Payment-in-Kind

PRIBOR—Prague Interbank Offered Rate

Q—Quarterly payment frequency for swaps

S—Semiannual payment frequency for swaps

SCB—Standard Chartered Bank

SOFR—Secured Overnight Financing Rate

SSB—State Street Bank & Trust Company

T—Swap payment upon termination

TD—The Toronto-Dominion Bank

THOR—Thai Overnight Repurchase Rate

UAG—UBS AG

WIBOR—Warsaw Interbank Offered Rate

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investments** (unaudited)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal** <br> **Amount**<br> **(000)#** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal** <br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 96.7%** |  |  |  |  |  |
| &nbsp;&nbsp; **CORPORATE BONDS 20.4%** |  |  |  |  |  |
| &nbsp;&nbsp; **Argentina 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; YPF SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.250% | 01/17/34 |  | 315 | $306728 |
| &nbsp;&nbsp; **Azerbaijan 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Southern Gas Corridor CJSC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes | 6.875 | 03/24/26 |  | 400 | 402408 |
| &nbsp;&nbsp; State Oil Co. of the Azerbaijan Republic, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.950 | 03/18/30 |  | 400 | 414756 |
|  |  |  |  |  | 817164 |
| &nbsp;&nbsp; **Bahrain 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Bapco Energies BSC Closed, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.375 | 11/07/28 |  | 500 | 530000 |
| &nbsp;&nbsp; **Brazil 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Banco do Brasil SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(a) | 4.875 | 01/11/29 |  | 200 | 196562 |
| &nbsp;&nbsp; Braskem Netherlands Finance BV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 8.500 | 01/12/31 |  | 200 | 191140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.500 | 01/12/31 |  | 240 | 229368 |
| &nbsp;&nbsp; Globo Comunicacao e Participacoes SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.875 | 01/22/30 |  | 200 | 186562 |
| &nbsp;&nbsp; Petrobras Global Finance BV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.375 | 10/01/29 | GBP | 100 | 130305 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933937 |
| &nbsp;&nbsp; **Chile 1.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Alfa Desarrollo SpA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.550 | 09/27/51 |  | 198 | 145885 |
| &nbsp;&nbsp; Chile Electricity Lux Mpc II Sarl, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes, 144A | 5.580 | 10/20/35 |  | 200 | 198200 |
| &nbsp;&nbsp; Corp. Nacional del Cobre de Chile, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.000 | 09/30/29 |  | 200 | 183125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.250 | 07/17/42 |  | 360 | 280800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.875 | 11/04/44 |  | 600 | 494700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.875 | 11/04/44 |  | 200 | 164900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.125 | 02/02/33 |  | 200 | 192938 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 3

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity** <br> **Date** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal <br> Amount** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)#**  | **Value** |
| &nbsp;&nbsp; **CORPORATE BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Chile (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; Corp. Nacional del Cobre de Chile, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.440% | 01/26/36 | 440 | $455400 |
| &nbsp;&nbsp; Empresa Nacional del Petroleo, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.450 | 09/16/31 | 200 | 174500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.150 | 05/10/33 | 200 | 203750 |
|  |  |  |  | 2494198 |
| &nbsp;&nbsp; **China 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Agile Group Holdings Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 6.050 | 10/13/25(d) | 200 | 13000 |
| &nbsp;&nbsp; ENN Clean Energy International Investment Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.375 | 05/12/26 | 200 | 195260 |
| &nbsp;&nbsp; Prosus NV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.193 | 01/19/32 | 350 | 318171 |
|  |  |  |  | 526431 |
| &nbsp;&nbsp; **Colombia 0.8%** |  |  |  |  |
| &nbsp;&nbsp; Colombia Telecomunicaciones SA ESP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(a) | 4.950 | 07/17/30 | 200 | 175275 |
| &nbsp;&nbsp; Ecopetrol SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.625 | 11/02/31 | 187 | 152031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.875 | 04/29/30 | 122 | 118127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 02/01/32 | 275 | 262281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.625 | 01/19/29 | 360 | 375300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.875 | 01/13/33 | 476 | 476290 |
| &nbsp;&nbsp; Grupo Aval Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.375 | 02/04/30 | 200 | 175250 |
|  |  |  |  | 1734554 |
| &nbsp;&nbsp; **Costa Rica 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Instituto Costarricense de Electricidad, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.750 | 10/07/31 | 200 | 201412 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity <br>Date** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal <br> Amount** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)#**  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal <br> Amount** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)#**  | **Value** |
| &nbsp;&nbsp; **CORPORATE BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Guatemala 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Central American Bottling Corp./CBC Bottling |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holdco SL/Beliv Holdco SL, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.250% | 04/27/29 |  | 167 | $158984 |
| &nbsp;&nbsp; CT Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.125 | 02/03/32 |  | 200 | 180440 |
|  |  |  |  |  | 339424 |
| &nbsp;&nbsp; **Hungary 0.5%** |  |  |  |  |  |
| &nbsp;&nbsp; MFB Magyar Fejlesztesi Bank Zrt, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes | 6.500 | 06/29/28 |  | 215 | 221048 |
| &nbsp;&nbsp; MVM Energetika Zrt, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.500 | 03/13/31 |  | 650 | 662188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.500 | 06/09/28 |  | 208 | 216977 |
|  |  |  |  |  | 1100213 |
| &nbsp;&nbsp; **India 1.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Adani Ports & Special Economic Zone Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 08/02/41 |  | 200 | 150000 |
| &nbsp;&nbsp; CA Magnum Holdings, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.375 | 10/31/26 |  | 400 | 389500 |
| &nbsp;&nbsp; GMR Hyderabad International Airport Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.250 | 10/27/27 |  | 400 | 380376 |
| &nbsp;&nbsp; HPCL-Mittal Energy Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.250 | 04/28/27 |  | 400 | 388000 |
| &nbsp;&nbsp; NTPC Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 2.750 | 02/01/27 | EUR | 100 | 112457 |
| &nbsp;&nbsp; Periama Holdings LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.950 | 04/19/26 |  | 400 | 397500 |
| &nbsp;&nbsp; Summit Digitel Infrastructure Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 2.875 | 08/12/31 |  | 435 | 378854 |
|  |  |  |  |  | 2196687 |
| &nbsp;&nbsp; **Indonesia 1.5%** |  |  |  |  |  |
| &nbsp;&nbsp; Freeport Indonesia PT, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 5.315 | 04/14/32 |  | 200 | 197400 |
| &nbsp;&nbsp; Indofood CBP Sukses Makmur Tbk PT, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.541 | 04/27/32 |  | 200 | 179688 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 5

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **CORPORATE BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Indonesia (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.450% | 05/15/30 |  | 600 | $604800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.750 | 05/15/25 |  | 200 | 199700 |
| &nbsp;&nbsp; Pertamina Geothermal Energy PT, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.150 | 04/27/28 |  | 200 | 200250 |
| &nbsp;&nbsp; Pertamina Persero PT, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.000 | 05/03/42 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | 192200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 4.700 | 07/30/49 |  | 200 | 159938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 3.650 | 07/30/29 |  | 200 | 190312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.700 | 07/30/49 |  | 200 | 159938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.500 | 11/07/48 |  | 200 | 201878 |
| &nbsp;&nbsp; Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.875 | 11/05/31 | EUR | 400 | 389841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.875 | 10/25/25 | EUR | 200 | 226398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 5.450 | 05/21/28 |  | 400 | 405000 |
|  |  |  |  |  | 3307343 |
| &nbsp;&nbsp; **Israel 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Bank Leumi Le-Israel BM, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.125 | 07/27/27 |  | 203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203445 |
| &nbsp;&nbsp; Energean Israel Finance Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.875 | 03/30/31 |  | 290 | 262631 |
|  |  |  |  |  | 466076 |
| &nbsp;&nbsp; **Jamaica 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Digicel Intermediate Holdings Ltd./Digicel International Finance Ltd./DIFL US LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, Cash coupon 9.000% and PIK 1.942% | 10.942 | 05/25/27 |  | 100 | 100143 |
| &nbsp;&nbsp; Digicel MidCo Ltd./DIFL US II LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, PIK 10.500% | 10.500 | 11/25/28 |  | 71 | 65157 |
|  |  |  |  |  | 165300 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **CORPORATE BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Kazakhstan 0.7%** |  |  |  |  |
| &nbsp;&nbsp; Development Bank of Kazakhstan JSC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.250% | 10/23/29 | 200 | $197578 |
| &nbsp;&nbsp; KazMunayGas National Co. JSC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.500 | 04/14/33 | 200 | 165050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.750 | 04/19/47 | 200 | 167376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.375 | 10/24/48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | 177626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 5.375 | 04/24/30 | 800 | 777800 |
|  |  |  |  | 1485430 |
| &nbsp;&nbsp; **Kuwait 0.1%** |  |  |  |  |
| &nbsp;&nbsp; MEGlobal BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, EMTN | 2.625 | 04/28/28 | 300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281156 |
| &nbsp;&nbsp; **Macau 0.1%** |  |  |  |  |
| &nbsp;&nbsp; MGM China Holdings Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 02/01/27 | 330 | 321915 |
| &nbsp;&nbsp; **Malaysia 1.1%** |  |  |  |  |
| &nbsp;&nbsp; GENM Capital Labuan Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.882 | 04/19/31 | 400 | 353300 |
| &nbsp;&nbsp; Gohl Capital Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.250 | 01/24/27 | 250 | 244765 |
| &nbsp;&nbsp; Petronas Capital Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A, MTN | 4.550 | 04/21/50 | 400 | 335600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A, MTN | 4.800 | 04/21/60 | 200 | 170000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A, MTN | 5.848 | 04/03/55 | 320 | 318973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, EMTN | 2.480 | 01/28/32 | 400 | 342400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, EMTN | 4.550 | 04/21/50 | 500 | 419500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, EMTN | 4.800 | 04/21/60 | 200 | 170000 |
|  |  |  |  | 2354538 |
| &nbsp;&nbsp; **Mexico 3.8%** |  |  |  |  |
| &nbsp;&nbsp; Comision Federal de Electricidad, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.688 | 05/15/29 | 710 | 681742 |
| &nbsp;&nbsp; Fermaca Enterprises S de RL de CV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 6.375 | 03/30/38 | 523 | 500134 |
| &nbsp;&nbsp; Mexico City Airport Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 3.875 | 04/30/28 | 200 | 190180 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 7

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **CORPORATE BONDS (Continued)** | &nbsp;&nbsp; **CORPORATE BONDS (Continued)** | &nbsp;&nbsp; **CORPORATE BONDS (Continued)** |  |  |  |
| &nbsp;&nbsp; **Mexico (cont'd.)** | &nbsp;&nbsp; **Mexico (cont'd.)** | &nbsp;&nbsp; **Mexico (cont'd.)** |  |  |  |
| &nbsp;&nbsp; Mexico City Airport Trust, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 5.500% | 07/31/47 |  | 1640 | $1282168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.500 | 10/31/46 |  | 400 | 314750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.500 | 07/31/47 |  | 400 | 312724 |
| &nbsp;&nbsp; Petroleos Mexicanos, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.350 | 02/12/28 |  | 879 | 810965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.950 | 01/28/31 |  | 370 | 305768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.350 | 02/12/48 |  | 253 | 160427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.490 | 01/23/27 |  | 355 | 347314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.500 | 03/13/27 |  | 466 | 454536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.500 | 06/02/41 |  | 335 | 229860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.700 | 02/16/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061 | 908641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.840 | 01/23/30 |  | 443 | 394447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.950 | 01/28/60 |  | 45 | 29925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 7.690 | 01/23/50 |  | 396 | 289080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 10.000 | 02/07/33 |  | 109 | 108744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, EMTN | 2.750 | 04/21/27 | EUR | 200 | 209294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, MTN | 6.750 | 09/21/47 |  | 805 | 538143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, MTN | 8.750 | 06/02/29 |  | 150 | 147210 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8216052 |
| &nbsp;&nbsp; **Morocco 0.2%** | &nbsp;&nbsp; **Morocco 0.2%** | &nbsp;&nbsp; **Morocco 0.2%** |  |  |  |
| &nbsp;&nbsp; OCP SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.750 | 05/02/34 |  | 430 | 433419 |
| &nbsp;&nbsp; **Panama 0.3%** | &nbsp;&nbsp; **Panama 0.3%** | &nbsp;&nbsp; **Panama 0.3%** |  |  |  |
| &nbsp;&nbsp; Aeropuerto Internacional de Tocumen SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.000 | 08/11/41 |  | 200 | 145000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.125 | 08/11/61 |  | 200 | 134875 |
| &nbsp;&nbsp; AES Panama Generation Holdings SRL, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.375 | 05/31/30 |  | 379 | 331407 |
|  |  |  |  |  | 611282 |
| &nbsp;&nbsp; **Peru 0.7%** | &nbsp;&nbsp; **Peru 0.7%** | &nbsp;&nbsp; **Peru 0.7%** |  |  |  |
| &nbsp;&nbsp; Banco Internacional del Peru SAA Interbank, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.250 | 10/04/26 |  | 350 | 340550 |
| &nbsp;&nbsp; Corp. Financiera de Desarrollo SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.400 | 09/28/27 |  | 200 | 187150 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **CORPORATE BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Peru (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; Fondo MIVIVIENDA SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.625% | 04/12/27 | 150 | $148125 |
| &nbsp;&nbsp; InRetail Consumer, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 3.250 | 03/22/28 | 300 | 279975 |
| &nbsp;&nbsp; Petroleos del Peru SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 06/19/32 | 225 | 165797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.625 | 06/19/47 | 700 | 426300 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547897 |
| &nbsp;&nbsp; **Philippines 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Globe Telecom, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.000 | 07/23/35 | 200 | 158626 |
| &nbsp;&nbsp; **Poland 0.7%** |  |  |  |  |
| &nbsp;&nbsp; Bank Gospodarstwa Krajowego, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes, 144A | 6.250 | 07/09/54 | 530 | 528421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes, 144A, MTN | 5.375 | 05/22/33 | 400 | 402028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes, EMTN | 5.375 | 05/22/33 | 500 | 502535 |
|  |  |  |  | 1432984 |
| &nbsp;&nbsp; **Qatar 0.5%** |  |  |  |  |
| &nbsp;&nbsp; QatarEnergy, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.300 | 07/12/51 | 200 | 134000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.125 | 07/12/41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240 | 905200 |
|  |  |  |  | 1039200 |
| &nbsp;&nbsp; **Saudi Arabia 0.8%** |  |  |  |  |
| &nbsp;&nbsp; EIG Pearl Holdings Sarl, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 3.545 | 08/31/36 | 735 | 649852 |
| &nbsp;&nbsp; Greensaif Pipelines Bidco Sarl, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.129 | 02/23/38 | 440 | 448936 |
| &nbsp;&nbsp; Saudi Arabian Oil Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.250 | 11/24/30 | 260 | 228881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.250 | 04/16/39 | 200 | 172312 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 9

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **CORPORATE BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Saudi Arabia (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; TMS Issuer Sarl, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.780% | 08/23/32 |  | 200 | $206444 |
|  |  |  |  |  | 1706425 |
| &nbsp;&nbsp; **South Africa 1.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Eskom Holdings SOC Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes, MTN | 6.350 | 08/10/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1240 | 1219850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, MTN | 8.450 | 08/10/28 |  | 260 | 262925 |
| &nbsp;&nbsp; MTN Mauritius Investments Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.500 | 10/13/26 |  | 200 | 201438 |
| &nbsp;&nbsp; Sasol Financing USA LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.500 | 09/27/28 |  | 300 | 276825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.750 | 05/03/29 |  | 200 | 190312 |
| &nbsp;&nbsp; Transnet SOC Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.250 | 02/06/28 |  | 200 | 201125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.250 | 02/06/28 |  | 420 | 422362 |
|  |  |  |  |  | 2774837 |
| &nbsp;&nbsp; **Trinidad & Tobago 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Heritage Petroleum Co. Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 9.000 | 08/12/29 |  | 200 | 201000 |
| &nbsp;&nbsp; **Turkey 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Aydem Yenilenebilir Enerji A/S, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.750 | 02/02/27 |  | 180 | 178470 |
| &nbsp;&nbsp; **Ukraine 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp; NAK Naftogaz Ukraine via Kondor Finance PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.125 | 07/19/26(d) | EUR | 359 | 346606 |
| &nbsp;&nbsp; **United Arab Emirates 2.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Abu Dhabi Crude Oil Pipeline LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.600 | 11/02/47 |  | 400 | 355000 |
| &nbsp;&nbsp; Adnoc Murban Rsc Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.125 | 09/11/54 |  | 352 | 316140 |
| &nbsp;&nbsp; DP World Crescent Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 3.875 | 07/18/29 |  | 300 | 288390 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **CORPORATE BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **United Arab Emirates (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; DP World Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.850% | 07/02/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720 | $1874679 |
| &nbsp;&nbsp; Galaxy Pipeline Assets Bidco Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 2.940 | 09/30/40 | 883 | 718184 |
| &nbsp;&nbsp; MDGH GMTN RSC Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A, MTN | 5.084 | 05/22/53 | 200 | 181926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, EMTN | 3.700 | 11/07/49 | 240 | 176160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, GMTN | 3.950 | 05/21/50 | 200 | 152750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, GMTN | 5.294 | 06/04/34 | 410 | 414715 |
|  |  |  |  | 4477944 |
| &nbsp;&nbsp; **Venezuela 0.5%** |  |  |  |  |
| &nbsp;&nbsp; Petroleos de Venezuela SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.375 | 04/12/27(d) | 205 | 23780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.000 | 05/16/24(d) | 1280 | 147200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.000 | 11/15/26(d) | 2010 | 229140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 9.750 | 05/17/35(d) | 350 | 44100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 8.500 | 10/27/20(d) | 645 | 599850 |
|  |  |  |  | 1044070 |
| &nbsp;&nbsp; **Vietnam 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Mong Duong Finance Holdings BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 5.125 | 05/07/29 | 191 | 182214 |
| &nbsp;&nbsp; **TOTAL CORPORATE BONDS**<br> (cost $46,012,118) |  |  |  | 43913532 |
| &nbsp;&nbsp; **SOVEREIGN BONDS 74.0%** |  |  |  |  |
| &nbsp;&nbsp; **Angola 1.4%** |  |  |  |  |
| &nbsp;&nbsp; Angolan Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.250 | 05/09/28 | 1200 | 1011540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.750 | 04/14/32 | 300 | 231093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.375 | 05/08/48 | 600 | 420186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.500 | 11/12/25 | 305 | 296918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 8.000 | 11/26/29 | 1200 | 956628 |
|  |  |  |  | 2916365 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 11

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Argentina 3.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Argentine Republic Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 0.000% | 12/15/35(d) | EUR | 13352 | $1321413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 0.750(cc) | 07/09/30 |  | 1743 | 1336567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.000 | 07/09/29 |  | 733 | 591280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.500(cc) | 07/09/41 |  | 1274 | 786331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.125(cc) | 07/09/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2542 | 1685564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.125(cc) | 07/09/46 |  | 327 | 213129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.000 | 01/09/38 |  | 1906 | 1340045 |
|  |  |  |  |  | 7274329 |
| &nbsp;&nbsp; **Bahrain 1.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Bahrain Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.000 | 09/19/44 |  | 200 | 163188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.750 | 09/20/29 |  | 600 | 606750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.000 | 10/12/28 |  | 750 | 765000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.375 | 05/14/30 |  | 870 | 901538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.500 | 09/20/47 |  | 200 | 192876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 02/12/36 |  | 325 | 331256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.250 | 01/25/51 |  | 200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162949 |
|  |  |  |  |  | 3123557 |
| &nbsp;&nbsp; **Brazil 3.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Brazil Minas SPE via State of Minas Gerais, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes | 5.333 | 02/15/28 |  | 86 | 84729 |
| &nbsp;&nbsp; Brazilian Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.875 | 06/12/30 |  | 715 | 668525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 01/14/50 |  | 250 | 176500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.000 | 01/27/45 |  | 1431 | 1087560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(a) | 5.625 | 01/07/41 |  | 845 | 749101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.000 | 10/20/33 |  | 1085 | 1070352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 01/22/32 |  | 1221 | 1242978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.250 | 03/18/31 |  | 529 | 545399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.625 | 03/15/35 |  | 420 | 418530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.125 | 05/13/54 |  | 325 | 308425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.250 | 01/20/34 |  | 683 | 764960 |
|  |  |  |  |  | 7117059 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Chile 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Chile Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.000% | 01/31/52 | 235 | $177014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.340 | 03/07/42 | 280 | 240240 |
|  |  |  |  | 417254 |
| &nbsp;&nbsp; **Colombia 3.3%** |  |  |  |  |
| &nbsp;&nbsp; Colombia Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.000 | 01/30/30 | 1518 | 1284228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.875 | 04/25/27 | 400 | 391420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.500 | 03/15/29 | 990 | 928125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.000 | 06/15/45 | 400 | 261000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.200 | 05/15/49 | 502 | 324292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.625 | 02/26/44 | 510 | 364012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 01/18/41 | 620 | 487475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.500 | 02/02/34 | 840 | 819420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.000 | 04/20/33 | 910 | 924560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.375 | 11/07/54 | 500 | 457750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.750 | 11/14/53 | 630 | 603540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 10.375 | 01/28/33 | 200 | 236350 |
|  |  |  |  | 7082172 |
| &nbsp;&nbsp; **Costa Rica 1.2%** |  |  |  |  |
| &nbsp;&nbsp; Costa Rica Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 02/19/31 | 650 | 665824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.550 | 04/03/34 | 330 | 336724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.000 | 04/04/44 | 400 | 403200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.550 | 04/03/34 | 465 | 474474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unsec'd. Notes, 144A | 7.300 | 11/13/54 | 797 | 808357 |
|  |  |  |  | 2688579 |
| &nbsp;&nbsp; **Dominican Republic 4.2%** |  |  |  |  |
| &nbsp;&nbsp; Dominican Republic International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.500 | 01/30/30 | 1641 | 1528386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.875 | 09/23/32 | 390 | 350633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.300 | 01/21/41 | 400 | 332950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500 | 02/22/29 | 1133 | 1117138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.950 | 01/25/27 | 705 | 707203 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 13

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity <br>Date** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal <br> Amount <br> (000)#**  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal <br> Amount <br> (000)#**  | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Dominican Republic (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; Dominican Republic International Bond, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.000% | 07/19/28 |  | 695 | $700560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.400 | 06/05/49 |  | 620 | 566680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.850 | 01/27/45 |  | 410 | 394113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.050 | 02/03/31 |  | 810 | 835515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(a) | 7.450 | 04/30/44 |  | 720 | 739350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.300 | 01/21/41 |  | 150 | 124856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500 | 02/22/29 |  | 810 | 798660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 07/19/28 |  | 170 | 171360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.950 | 03/15/37 |  | 400 | 397400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.150 | 02/24/55 |  | 315 | 307913 |
|  |  |  |  |  | 9072717 |
| &nbsp;&nbsp; **Ecuador 1.6%** |  |  |  |  |  |
| &nbsp;&nbsp; Ecuador Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.000(cc) | 07/31/40 |  | 1177 | 613093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.900 | 07/31/30 |  | 350 | 262139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000(cc) | 07/31/40 |  | 1341 | 697122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500(cc) | 07/31/35 |  | 1231 | 735825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.900 | 07/31/30 |  | 1453 | 1086789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.961(s) | 07/31/30 |  | 129 | 78621 |
|  |  |  |  |  | 3473589 |
| &nbsp;&nbsp; **Egypt 2.8%** |  |  |  |  |  |
| &nbsp;&nbsp; Egypt Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.800 | 09/30/27 |  | 200 | 188250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.625 | 05/29/32 |  | 1000 | 842000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.903 | 02/21/48 |  | 200 | 136885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.500 | 01/31/47 |  | 500 | 362250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.700 | 03/01/49 |  | 850 | 624325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.700 | 03/01/49 |  | 410 | 301145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 6.375 | 04/11/31 | EUR | 220 | 213463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.750 | 04/16/26 | EUR | 365 | 410596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 5.625 | 04/16/30 | EUR | 1403 | 1364077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.375 | 04/11/31 | EUR | 1515 | 1469983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 7.053 | 01/15/32 |  | 200 | 165938 |
|  |  |  |  |  | 6078912 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity <br>Date** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal <br> Amount <br> (000)#**  | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **El Salvador 1.5%** |  |  |  |  |
| &nbsp;&nbsp; El Salvador Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.625% | 02/01/41 | 150 | $135225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.650 | 06/15/35 | 57 | 53423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.250 | 04/10/32 | 275 | 269294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.625 | 02/28/29 | 547 | 555205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.250 | 04/17/30 | 200 | 206400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 0.250 | 04/17/30 | 930 | 18600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.250 | 04/17/30 | 1340 | 1382880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.650 | 11/21/54 | 600 | 595200 |
|  |  |  |  | 3216227 |
| &nbsp;&nbsp; **Gabon 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Gabon Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.625 | 02/06/31 | 515 | 363559 |
| &nbsp;&nbsp; **Ghana 1.5%** |  |  |  |  |
| &nbsp;&nbsp; Ghana Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.000(cc) | 07/03/29 | 705 | 596606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.000(cc) | 07/03/35 | 130 | 86450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000(cc) | 07/03/29 | 1386 | 1172767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000(cc) | 07/03/35 | 1531 | 1018089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.710(s) | 07/03/26 | 132 | 124531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.033(s) | 01/03/30 | 324 | 243954 |
|  |  |  |  | 3242397 |
| &nbsp;&nbsp; **Guatemala 1.7%** |  |  |  |  |
| &nbsp;&nbsp; Guatemala Government Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.700 | 10/07/33 | 200 | 166062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.500 | 05/03/26 | 302 | 298415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.875 | 02/13/28 | 400 | 392752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.900 | 06/01/30 | 360 | 347760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.250 | 08/10/29 | 430 | 422905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 06/01/50 | 350 | 310888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.600 | 06/13/36 | 208 | 207792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.050 | 10/04/32 | 892 | 935708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.650 | 10/07/41 | 200 | 154938 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 15

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Guatemala (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; Guatemala Government Bond, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.050% | 08/06/31 | 200 | $199000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.550 | 02/06/37 | 200 | 198850 |
|  |  |  |  | 3635070 |
| &nbsp;&nbsp; **Honduras 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Honduras Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.250 | 01/19/27 | 200 | 197919 |
| &nbsp;&nbsp; **Hungary 2.5%** |  |  |  |  |
| &nbsp;&nbsp; Hungary Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.125 | 09/21/51 | 200 | 116453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500 | 06/16/34 | 300 | 289125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 05/22/28 | 400 | 411052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.250 | 09/22/32 | 220 | 226435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.250 | 06/16/29 | 540 | 538785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500 | 03/26/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020 | 964920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.250 | 09/22/32 | 1235 | 1271124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.750 | 09/25/52 | 220 | 219670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 30Y | 7.625 | 03/29/41 | 760 | 839800 |
| &nbsp;&nbsp; Magyar Export-Import Bank Zrt, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes, 144A | 6.125 | 12/04/27 | 400 | 407002 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5284366 |
| &nbsp;&nbsp; **India 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Export-Import Bank of India, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 3.250 | 01/15/30 | 400 | 372272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 2.250 | 01/13/31 | 200 | 172856 |
|  |  |  |  | 545128 |
| &nbsp;&nbsp; **Indonesia 1.8%** |  |  |  |  |
| &nbsp;&nbsp; Indonesia Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.650 | 09/20/32 | 590 | 574512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.650 | 01/11/53 | 200 | 195000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.625 | 02/17/37 | 150 | 164700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 01/17/38 | 500 | 598750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.500 | 10/12/35 | 400 | 497400 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Indonesia (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; Indonesia Government International Bond, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.625% | 02/17/37 |  | 290 | $318420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.625 | 04/15/43 |  | 200 | 175900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN(a) | 5.125 | 01/15/45 |  | 200 | 186250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 5.250 | 01/17/42 |  | 400 | 384400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.750 | 01/15/44 |  | 100 | 110813 |
| &nbsp;&nbsp; Perusahaan Penerbit SBSN Indonesia III, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.700 | 06/06/32 |  | 600 | 589128 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795273 |
| &nbsp;&nbsp; **Ivory Coast 1.6%** |  |  |  |  |  |
| &nbsp;&nbsp; Ivory Coast Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.875 | 01/30/32 | EUR | 320 | 311373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.250 | 03/22/30 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | 1052418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.750 | 12/31/32 |  | 72 | 65282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.875 | 10/17/31 | EUR | 950 | 976658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.875 | 10/17/40 | EUR | 350 | 318189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.625 | 01/30/33 |  | 315 | 294131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.075 | 04/01/36 |  | 200 | 183250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.250 | 01/30/37 |  | 200 | 183500 |
|  |  |  |  |  | 3384801 |
| &nbsp;&nbsp; **Jamaica 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Jamaica Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.750 | 04/28/28 |  | 300 | 306675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.875 | 07/28/45 |  | 200 | 225050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.000 | 03/15/39 |  | 320 | 362880 |
|  |  |  |  |  | 894605 |
| &nbsp;&nbsp; **Jordan 0.7%** |  |  |  |  |  |
| &nbsp;&nbsp; Jordan Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.750 | 01/31/27 |  | 200 | 197688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 01/29/26 |  | 200 | 199500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.375 | 10/10/47 |  | 200 | 167626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 01/15/28 |  | 550 | 556358 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 17

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity** <br> **Date** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal <br> Amount <br> (000)#**  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal <br> Amount <br> (000)#**  | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Jordan (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; Jordan Government International Bond, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500% | 01/13/29 |  | 205 | $204168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.750 | 01/15/28 |  | 220 | 222543 |
|  |  |  |  |  | 1547883 |
| &nbsp;&nbsp; **Kenya 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Republic of Kenya Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.500 | 03/05/36 |  | 290 | 252155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.750 | 02/16/31 |  | 265 | 251750 |
|  |  |  |  |  | 503905 |
| &nbsp;&nbsp; **Lebanon 0.8%** |  |  |  |  |  |
| &nbsp;&nbsp; Lebanon Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.100 | 10/04/22(d) |  | 75 | 12638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.850 | 05/25/29(d) |  | 460 | 77510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 8.250 | 04/12/21(d) |  | 2850 | 480225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 6.250 | 05/27/22(d) |  | 245 | 41283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 6.250 | 11/04/24(d) |  | 320 | 53920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 6.375 | 03/09/20(d) |  | 220 | 37070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 6.400 | 05/26/23(d) |  | 250 | 42125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 6.650 | 11/03/28(d) |  | 504 | 84924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 6.650 | 02/26/30(d) |  | 80 | 13480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 7.050 | 11/02/35(d) |  | 175 | 29488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 7.150 | 11/20/31(d) |  | 415 | 69927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 08Y | 6.650 | 04/22/24(d) |  | 172 | 28982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 10Y | 6.000 | 01/27/23(d) |  | 191 | 32184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 10Y | 6.850 | 03/23/27(d) |  | 1095 | 184507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 15Y | 6.750 | 11/29/27(d) |  | 780 | 131430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 15Y | 7.000 | 04/22/31(d) |  | 115 | 19378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 15Y | 7.000 | 03/23/32(d) |  | 771 | 129913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 20Y | 7.250 | 03/23/37(d) |  | 1035 | 174397 |
|  |  |  |  |  | 1643381 |
| &nbsp;&nbsp; **Mexico 3.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Mexican Bonos, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series M | 7.750 | 11/23/34 | MXN | 344 | 1576137 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity <br>Date** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal <br> Amount <br> (000)#**  | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Mexico (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; Mexico Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.659% | 05/24/31 | 465 | $394669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.250 | 04/16/30 | 725 | 659478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.500 | 02/12/34 | 270 | 221233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.771 | 05/24/61 | 200 | 113200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.600 | 02/10/48 | 300 | 213150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.875 | 05/19/33 | 550 | 506000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.000 | 05/13/30 | 770 | 790886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.000 | 05/07/36 | 345 | 329647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.338 | 05/04/53 | 290 | 254620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.350 | 02/09/35 | 250 | 248125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.400 | 05/07/54 | 200 | 176500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.375 | 05/13/55 | 200 | 197825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, MTN | 4.750 | 03/08/44 | 140 | 105770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, MTN | 6.050 | 01/11/40 | 730 | 679995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series A, MTN | 6.750 | 09/27/34 | 203 | 210612 |
|  |  |  |  | 6677847 |
| &nbsp;&nbsp; **Mongolia 0.4%** |  |  |  |  |
| &nbsp;&nbsp; Mongolia Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.450 | 07/07/31 | 200 | 168650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.650 | 01/19/28 | 200 | 206250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.625 | 02/25/30 | 200 | 192000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.875 | 06/05/29 | 200 | 202300 |
|  |  |  |  | 769200 |
| &nbsp;&nbsp; **Montenegro 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Montenegro Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.250 | 03/12/31 | 200 | 201355 |
| &nbsp;&nbsp; **Morocco 0.8%** |  |  |  |  |
| &nbsp;&nbsp; Morocco Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.000 | 12/15/50 | 400 | 263000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.500 | 09/08/33 | 400 | 413000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.950 | 03/08/28 | 330 | 335259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.500 | 09/08/33 | 595 | 614338 |
|  |  |  |  | 1625597 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 19

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest** <br> **Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Nigeria 1.3%** |  |  |  |  |
| &nbsp;&nbsp; Nigeria Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.696% | 02/23/38 | 200 | $152250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.875 | 02/16/32 | 200 | 170550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.747 | 01/21/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | 363546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.696 | 02/23/38 | 200 | 152250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.625 | 06/09/31 | 200 | 187800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 10.375 | 12/09/34 | 675 | 637706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 7.375 | 09/28/33 | 200 | 161126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.500 | 11/28/27 | 300 | 281400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 8.250 | 09/28/51 | 250 | 181750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 8.375 | 03/24/29 | 600 | 560550 |
|  |  |  |  | 2848928 |
| &nbsp;&nbsp; **Oman 2.5%** |  |  |  |  |
| &nbsp;&nbsp; Oman Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 06/15/26 | 410 | 407438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.375 | 03/08/27 | 430 | 431578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.625 | 01/17/28 | 1280 | 1292806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.500 | 03/08/47 | 635 | 627043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.750 | 10/28/27 | 800 | 828576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.000 | 01/25/51 | 600 | 624378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.750 | 01/17/48 | 200 | 201500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.000 | 08/01/29 | 850 | 874973 |
|  |  |  |  | 5288292 |
| &nbsp;&nbsp; **Pakistan 1.0%** |  |  |  |  |
| &nbsp;&nbsp; Pakistan Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.875 | 12/05/27 | 680 | 597040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.250 | 09/30/25 | 200 | 196250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 7.375 | 04/08/31 | 200 | 157000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.000 | 04/08/26 | 810 | 759375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 7.375 | 04/08/31 | 600 | 471000 |
|  |  |  |  | 2180665 |
| &nbsp;&nbsp; **Panama 2.1%** |  |  |  |  |
| &nbsp;&nbsp; Panama Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.160 | 01/23/30 | 980 | 858725 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest** <br> **Rate** | **Maturity**<br> **Date** | **Principal<br>Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Panama (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; Panama Government International Bond, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.298% | 01/19/33 | 200 | $156600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.875 | 03/17/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473 | 451951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.300 | 04/29/53 | 470 | 287992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.500 | 04/16/50 | 480 | 307680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.500 | 04/01/56 | 1092 | 670488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.700 | 01/26/36 | 15 | 14483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.500 | 03/01/31 | 1280 | 1333120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.000 | 03/01/38 | 200 | 207800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.375 | 04/01/29 | 165 | 183315 |
|  |  |  |  | 4472154 |
| &nbsp;&nbsp; **Papua New Guinea 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Papua New Guinea Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.375 | 10/04/28 | 220 | 213975 |
| &nbsp;&nbsp; **Paraguay 0.6%** |  |  |  |  |
| &nbsp;&nbsp; Paraguay Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.950 | 04/28/31 | 200 | 196650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(a) | 6.100 | 08/11/44 | 500 | 470000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.400 | 03/30/50 | 200 | 169824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 02/09/36 | 200 | 201200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.650 | 03/04/55 | 200 | 197775 |
|  |  |  |  | 1235449 |
| &nbsp;&nbsp; **Peru 1.6%** |  |  |  |  |
| &nbsp;&nbsp; Peruvian Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.780 | 12/01/60 | 200 | 107000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.783 | 01/23/31 | 600 | 532200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(a) | 3.000 | 01/15/34 | 795 | 662632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.230 | 07/28/2121 | 110 | 58630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.600 | 01/15/72 | 515 | 315695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.375 | 02/08/35 | 60 | 59220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.625 | 11/18/50 | 502 | 469998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.875 | 08/08/54 | 345 | 328440 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 21

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest** <br> **Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Peru (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; Peruvian Government International Bond, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.550% | 03/14/37 |  | 225 | $238950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.750 | 11/21/33 |  | 620 | 752680 |
|  |  |  |  |  | 3525445 |
| &nbsp;&nbsp; **Philippines 1.9%** |  |  |  |  |  |
| &nbsp;&nbsp; Philippine Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.750 | 04/28/41 | EUR | 265 | 212489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.650 | 12/10/45 |  | 200 | 127500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.200 | 07/06/46 |  | 200 | 139938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.556 | 09/29/32 |  | 300 | 273750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.700 | 03/01/41 |  | 400 | 321200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.950 | 01/20/40 |  | 450 | 383400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.200 | 03/29/47 |  | 300 | 244314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.000 | 07/17/33 |  | 770 | 770770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500 | 02/04/35 |  | 750 | 771750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.609 | 04/13/33 |  | 200 | 207388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.375 | 10/23/34 |  | 200 | 218000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 01/14/31 |  | 420 | 485100 |
|  |  |  |  |  | 4155599 |
| &nbsp;&nbsp; **Poland 1.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Republic of Poland Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 5.375 | 02/12/35 |  | 375 | 379500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500 | 04/04/53 |  | 785 | 735993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500 | 03/18/54 |  | 906 | 845298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.750 | 11/16/32 |  | 230 | 241778 |
|  |  |  |  |  | 2202569 |
| &nbsp;&nbsp; **Qatar 1.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Qatar Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.625 | 06/02/46 |  | 330 | 296485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.103 | 04/23/48 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242 | 1173690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.400 | 01/20/40 |  | 100 | 112094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.817 | 03/14/49 |  | 870 | 790830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.103 | 04/23/48 |  | 200 | 189000 |
|  |  |  |  |  | 2562099 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Romania 3.7%** |  |  |  |  |  |
| &nbsp;&nbsp; Romanian Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.125% | 06/15/48 |  | 180 | $130680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.875 | 01/30/29 |  | 420 | 416065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.625 | 02/17/28 |  | 956 | 976315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.750 | 03/24/35 |  | 364 | 322027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.375 | 01/30/34 |  | 520 | 491239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.625 | 02/17/28 |  | 800 | 817000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.125 | 01/17/33 |  | 478 | 481642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 02/10/37 |  | 378 | 376110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(a) | 7.625 | 01/17/53 |  | 426 | 411090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 6.000 | 05/25/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022 | 941262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 2.000 | 04/14/33 | EUR | 260 | 217592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 2.125 | 03/07/28 | EUR | 960 | 1038260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 3.875 | 10/29/35 | EUR | 440 | 399700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 5.375 | 03/22/31 | EUR | 380 | 421335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.000 | 05/25/34 |  | 80 | 73680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.625 | 09/27/29 | EUR | 460 | 553488 |
|  |  |  |  |  | 8067485 |
| &nbsp;&nbsp; **Saudi Arabia 2.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Saudi Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 5.000 | 01/16/34 |  | 385 | 382374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 5.000 | 01/18/53 |  | 600 | 508314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 5.250 | 01/16/50 |  | 400 | 355000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 5.750 | 01/16/54 |  | 365 | 343100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.500 | 10/26/46 |  | 1940 | 1569460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.625 | 10/04/47 |  | 1140 | 930810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 5.000 | 04/17/49 |  | 800 | 684200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 5.250 | 01/16/50 |  | 480 | 426000 |
|  |  |  |  |  | 5199258 |
| &nbsp;&nbsp; **Senegal 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Senegal Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 03/13/28 | EUR | 285 | 270397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.375 | 06/08/37 | EUR | 435 | 308610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.250 | 05/23/33 |  | 200 | 138700 |
|  |  |  |  |  | 717707 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 23

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Serbia 1.8%** |  |  |  |  |  |
| &nbsp;&nbsp; Serbia International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.500% | 06/26/29 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1265 | $1283430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.250 | 05/26/28 |  | 200 | 205400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 1.650 | 03/03/33 | EUR | 640 | 575038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 06/12/34 |  | 380 | 375250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.250 | 05/26/28 |  | 400 | 410800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.500 | 09/26/33 |  | 935 | 963635 |
|  |  |  |  |  | 3813553 |
| &nbsp;&nbsp; **South Africa 2.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Republic of South Africa Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.300 | 10/12/28 |  | 810 | 767013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.850 | 09/30/29 |  | 770 | 724763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.750 | 09/30/49 |  | 1515 | 1075029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.875 | 06/22/30 |  | 325 | 314600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.875 | 04/20/32 |  | 200 | 188959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.100 | 11/19/36 |  | 200 | 189951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.300 | 04/20/52 |  | 480 | 407760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.950 | 11/19/54 |  | 200 | 180650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.100 | 11/19/36 |  | 285 | 270680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.950 | 11/19/54 |  | 200 | 180650 |
|  |  |  |  |  | 4300055 |
| &nbsp;&nbsp; **Sri Lanka 1.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Sri Lanka Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.100(cc) | 01/15/30 |  | 501 | 407734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.350(cc) | 03/15/33 |  | 782 | 551377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.600(cc) | 06/15/35 |  | 473 | 303444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.600(cc) | 05/15/36 |  | 501 | 344458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.600(cc) | 02/15/38 |  | 416 | 288314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.000 | 04/15/28 |  | 340 | 314087 |
|  |  |  |  |  | 2209414 |
| &nbsp;&nbsp; **Turkey 4.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Turkiye Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.125 | 07/17/32 |  | 1150 | 1120100 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **Turkey (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; Turkiye Government International Bond, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.125% | 07/13/30 | 1245 | $1349580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 06Y | 9.375 | 03/14/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351 | 1455128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 10Y | 5.250 | 03/13/30 | 810 | 747630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 10Y | 5.950 | 01/15/31 | 800 | 747752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 10Y | 6.000 | 03/25/27 | 440 | 439314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 10Y | 7.625 | 04/26/29 | 400 | 408252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 10Y | 9.375 | 01/19/33 | 800 | 876480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 11Y | 4.875 | 10/09/26 | 200 | 197410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 11Y | 6.125 | 10/24/28 | 310 | 305117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 30Y | 5.750 | 05/11/47 | 1000 | 719000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 30Y | 6.000 | 01/14/41 | 200 | 159126 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8524889 |
| &nbsp;&nbsp; **Ukraine 1.3%** |  |  |  |  |
| &nbsp;&nbsp; Ukraine Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 0.000(cc) | 02/01/35 | 195 | 97013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.750(cc) | 02/01/29 | 220 | 133430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.750(cc) | 02/01/34 | 160 | 78960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 0.000(cc) | 02/01/30 | 179 | 87076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 0.000(cc) | 02/01/34 | 669 | 250820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 0.000(cc) | 02/01/35 | 565 | 281201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 0.000(cc) | 02/01/36 | 471 | 233157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 1.750(cc) | 02/01/29 | 315 | 190957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 1.750(cc) | 02/01/34 | 1212 | 598167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 1.750(cc) | 02/01/35 | 857 | 417549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 1.750(cc) | 02/01/36 | 702 | 337839 |
|  |  |  |  | 2706169 |
| &nbsp;&nbsp; **United Arab Emirates 1.1%** |  |  |  |  |
| &nbsp;&nbsp; Abu Dhabi Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.125 | 09/30/49 | 600 | 405150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.125 | 09/30/49 | 500 | 337625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 3.875 | 04/16/50 | 200 | 154880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 3.875 | 04/16/50 | 400 | 309760 |
| &nbsp;&nbsp; Emirate of Dubai Government International Bonds, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 5.250 | 01/30/43 | 390 | 366233 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 25

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity**<br> **Date** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |
| &nbsp;&nbsp; **United Arab Emirates (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; Finance Department Government of Sharjah, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.500% | 11/23/32 | 200 | $208188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.500 | 11/23/32 | 355 | 369533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 4.000 | 07/28/50 | 200 | 127000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, MTN | 4.000 | 07/28/50 | 200 | 127000 |
|  |  |  |  | 2405369 |
| &nbsp;&nbsp; **Uruguay 1.4%** |  |  |  |  |
| &nbsp;&nbsp; Oriental Republic of Uruguay, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(a) | 5.250 | 09/10/60 | 130 | 117126 |
| &nbsp;&nbsp; Uruguay Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.975 | 04/20/55 | 650 | 572975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.100 | 06/18/50 | 904 | 830324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.625 | 03/21/36 | 830 | 981475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(a) | 7.875 | 01/15/33 | 435 | 510255 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3012155 |
| &nbsp;&nbsp; **Uzbekistan 0.3%** |  |  |  |  |
| &nbsp;&nbsp; Republic of Uzbekistan International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.900 | 02/28/32 | 410 | 409110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 5.375 | 02/20/29 | 200 | 193700 |
|  |  |  |  | 602810 |
| &nbsp;&nbsp; **Venezuela 0.3%** |  |  |  |  |
| &nbsp;&nbsp; Venezuela Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.250 | 10/13/24(d) | 260 | 36400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.000 | 05/07/23(d) | 545 | 76300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.250 | 09/15/27(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670 | 292250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.375 | 01/13/34(d) | 235 | 49862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 11.750 | 10/21/26(d) | 445 | 80545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 12.750 | 08/23/22(d) | 840 | 138600 |
|  |  |  |  | 673957 |
| &nbsp;&nbsp; **Zambia 0.7%** |  |  |  |  |
| &nbsp;&nbsp; Zambia Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unsec'd. Notes | 5.750(cc) | 06/30/33 | 588 | 507693 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** | &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** | &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |
| &nbsp;&nbsp; **Zambia (cont'd.)** |  |  |  |  |
| &nbsp;&nbsp; Zambia Government International Bond, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unsec'd. Notes, 144A | 0.500% | 12/31/53 | 376 | $213248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unsec'd. Notes, 144A | 5.750(cc) | 06/30/33 | 986 | 851657 |
|  |  |  |  | 1572598 |
| &nbsp;&nbsp; **TOTAL SOVEREIGN BONDS**<br> (cost $161,276,988) |  |  |  | 159263640 |
| &nbsp;&nbsp; **U.S. TREASURY OBLIGATIONS 2.3%** |  |  |  |  |
| &nbsp;&nbsp; U.S. Treasury Notes(k) | 3.500 | 09/30/26 | 505 | 503363 |
| &nbsp;&nbsp; U.S. Treasury Notes(k) | 3.750 | 08/31/26 | 380 | 379837 |
| &nbsp;&nbsp; U.S. Treasury Notes | 3.750 | 04/30/27 | 200 | 200609 |
| &nbsp;&nbsp; U.S. Treasury Notes(k) | 4.125 | 10/31/26 | 1000 | 1005781 |
| &nbsp;&nbsp; U.S. Treasury Notes(k) | 4.125 | 11/15/27 | 1100 | 1114180 |
| &nbsp;&nbsp; U.S. Treasury Notes(k) | 4.250 | 11/30/26 | 1600 | 1613375 |
| &nbsp;&nbsp; **TOTAL U.S. TREASURY OBLIGATIONS**<br> (cost $4,774,827) |  |  |  | 4817145 |
|  |  |  | **Shares** |  |
| &nbsp;&nbsp; **COMMON STOCK 0.0%** |  |  |  |  |
| &nbsp;&nbsp; **Jamaica** |  |  |  |  |
| &nbsp;&nbsp; Digicel International Finance Ltd.\*<br> (cost $1,536) |  |  | 853 | 5971 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS**<br> (cost $212,065,469) |  |  |  | 208000288 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 3.9%** |  |  |  |  |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS 3.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)(wb) |  |  | 4959579 | 4959579 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 27

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | |
|:---|:---|:---|
| **Description** | **Shares** | **Value** |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUNDS (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<br>(cost $3,417,818; includes $3,400,593 of cash collateral for securities onloan)(b)(wb) | 3420362 | $3417969 |
| &nbsp;&nbsp; **TOTAL AFFILIATED MUTUAL FUNDS**<br> (cost $8,377,397) |  | 8377548 |
| &nbsp;&nbsp; **OPTIONS PURCHASED\*~ 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $26,167) |  | 44988 |
| &nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $8,403,564) |  | 8422536 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN 100.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $220,469,033) |  | 216422824 |
| &nbsp;&nbsp; **OPTIONS WRITTEN\*~ (0.1)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (premiums received $235,677) |  | (288923) |
| &nbsp;&nbsp; **TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 100.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $220,233,356) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216133901 |
| &nbsp;&nbsp; Liabilities in excess of other assets(z) (0.5)% |  | (1006186) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  | $215127715 |

---

See the Glossary for a list of the abbreviation(s) used in the semiannual report.

\* Non-income producing security.

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

~ See tables subsequent to the Schedule of Investments for options detail. Options with maturity dates greater than one year from date of acquisition would be considered long-term investments.

---

| | |
|:---|:---|
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $1,906 and 0.0% of net assets.  |

---

(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $3,335,066; cash collateral of $3,400,593 (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.

(cc) Variable rate instrument. The rate shown is based on the latest available information as of April 30, 2025. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.

(d) Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.

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

(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

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

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

#### Options Purchased:

#### OTC Traded

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Call/<br>Put** | **Counterparty** | **Expiration<br>Date** | **Strike** | **Contracts** | **Notional<br>Amount**<br>**(000)#** | **Notional<br>Amount**<br>**(000)#** | **Value** |
|  Currency Option EUR vs CZK | Call | MSI | 05/15/25 | 26.50 |  | EUR | 534 | $2 |
|  Currency Option EUR vs MXN | Call | MSI | 05/22/25 | 27.00 |  | EUR | 464 | 19 |
|  Currency Option EUR vs TRY | Call | JPM | 05/06/25 | 70.00 |  | EUR | 1083 | 11 |
|  Currency Option EUR vs TRY | Call | JPM | 05/27/25 | 80.00 |  | EUR | 960 | 488 |
|  Currency Option EUR vs USD | Call | JPM | 05/05/25 | 1.12 |  | EUR | 2206 | 34608 |
|  Currency Option USD vs BRL | Call | MSI | 05/08/25 | 7.20 |  |  | 521 |  |
|  Currency Option USD vs BRL | Call | JPM | 05/08/25 | 7.60 |  |  | 263 |  |
|  Currency Option USD vs BRL | Call | MSI | 05/22/25 | 7.00 |  |  | 533 | 17 |
|  Currency Option USD vs BRL | Call | CITI | 05/23/25 | 7.00 |  |  | 536 | 18 |
|  Currency Option USD vs COP | Call | HSBC | 05/08/25 | 5500.00 |  |  | 1051 |  |
|  Currency Option USD vs COP | Call | MSI | 05/14/25 | 5200.00 |  |  | 518 | 2 |
|  Currency Option USD vs INR | Call | JPM | 01/08/26 | 91.00 |  |  | 2328 | 8303 |
|  Currency Option USD vs KRW | Call | CITI | 05/08/25 | 1650.00 |  |  | 524 |  |
|  Currency Option USD vs KRW | Call | MSI | 05/19/25 | 1600.00 |  |  | 532 | 5 |
|  Currency Option USD vs KRW | Call | MSI | 05/23/25 | 1600.00 |  |  | 536 | 7 |
|  Currency Option USD vs MXN | Call | CITI | 05/05/25 | 24.00 |  |  | 544 |  |
|  Currency Option USD vs MXN | Call | CITI | 05/08/25 | 27.00 |  |  | 526 |  |
|  Currency Option USD vs MXN | Call | MSI | 05/14/25 | 24.00 |  |  | 518 | 3 |
|  Currency Option USD vs TRY | Call | JPM | 05/02/25 | 70.00 |  |  | 544 |  |
|  Currency Option USD vs TRY | Call | JPM | 05/19/25 | 65.00 |  |  | 545 | 454 |
|  Currency Option USD vs TRY | Call | JPM | 05/27/25 | 75.00 |  |  | 269 | 159 |
|  Currency Option USD vs ZAR | Call | CITI | 05/01/25 | 22.00 |  |  | 539 |  |
|  Currency Option USD vs ZAR | Call | CITI | 05/20/25 | 23.00 |  |  | 539 | 8 |
|  Currency Option USD vs ZAR | Call | JPM | 05/28/25 | 22.00 |  |  | 538 | 37 |
|  Currency Option USD vs BRL | Put | JPM | 05/05/25 | 5.00 |  |  | 544 |  |
|  Currency Option USD vs BRL | Put | CITI | 05/08/25 | 5.20 |  |  | 524 | 3 |
|  Currency Option USD vs BRL | Put | MSI | 05/08/25 | 5.20 |  |  | 1626 | 9 |
|  Currency Option USD vs BRL | Put | HSBC | 05/14/25 | 5.00 |  |  | 518 | 2 |
|  Currency Option USD vs CNH | Put | JPM | 05/08/25 | 6.10 |  |  | 1074 |  |
|  Currency Option USD vs CNH | Put | MSI | 06/26/25 | 6.50 |  |  | 3255 | 96 |
|  Currency Option USD vs INR | Put | JPM | 01/08/26 | 75.00 |  |  | 3152 | 482 |
|  Currency Option USD vs INR | Put | JPM | 01/08/26 | 75.00 |  |  | 1496 | 229 |
|  Currency Option USD vs MXN | Put | MSI | 05/20/25 | 17.50 |  |  | 266 | 1 |
|  Currency Option USD vs ZAR | Put | MSI | 05/28/25 | 16.80 |  |  | 541 | 25 |
|  **Total Options Purchased** (cost $26,167) |  |  |  |  |  |  |  | $44988 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 29

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

#### Options Written:

#### OTC Traded

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Call/<br>Put** | **Counterparty** | **Expiration<br>Date** | **Strike** | **Contracts** | **Notional<br>Amount<br>(000)#** | **Notional<br>Amount<br>(000)#** | **Value** |
|  Currency Option EUR vs CZK | Call | MSI | 05/15/25 | 25.08 |  | EUR | 534 | $(1027) |
|  Currency Option EUR vs MXN | Call | MSI | 05/22/25 | 23.25 |  | EUR | 464 | (1444) |
|  Currency Option EUR vs TRY | Call | JPM | 05/27/25 | 47.00 |  | EUR | 960 | (10374) |
|  Currency Option EUR vs USD | Call | JPM | 05/05/25 | 1.15 |  | EUR | 2206 | (2209) |
|  Currency Option USD vs BRL | Call | MSI | 05/22/25 | 5.90 |  |  | 533 | (1887) |
|  Currency Option USD vs BRL | Call | CITI | 05/23/25 | 5.85 |  |  | 536 | (2704) |
|  Currency Option USD vs COP | Call | HSBC | 05/08/25 | 4290.00 |  |  | 1051 | (3870) |
|  Currency Option USD vs COP | Call | MSI | 05/14/25 | 4200.00 |  |  | 518 | (7874) |
|  Currency Option USD vs KRW | Call | MSI | 05/19/25 | 1420.00 |  |  | 532 | (6082) |
|  Currency Option USD vs KRW | Call | MSI | 05/23/25 | 1435.00 |  |  | 536 | (3800) |
|  Currency Option USD vs MXN | Call | MSI | 05/14/25 | 19.90 |  |  | 518 | (2423) |
|  Currency Option USD vs TRY | Call | JPM | 05/02/25 | 40.00 |  |  | 544 | (30) |
|  Currency Option USD vs TRY | Call | JPM | 05/19/25 | 40.00 |  |  | 545 | (4227) |
|  Currency Option USD vs TRY | Call | JPM | 05/27/25 | 41.50 |  |  | 269 | (1858) |
|  Currency Option USD vs ZAR | Call | CITI | 05/20/25 | 19.00 |  |  | 539 | (2824) |
|  Currency Option USD vs ZAR | Call | JPM | 05/28/25 | 19.00 |  |  | 538 | (3805) |
|  Currency Option USD vs BRL | Put | JPM | 05/05/25 | 5.55 |  |  | 544 | (213) |
|  Currency Option USD vs BRL | Put | CITI | 05/08/25 | 5.80 |  |  | 524 | (12518) |
|  Currency Option USD vs BRL | Put | MSI | 05/08/25 | 6.20 |  |  | 1626 | (150964) |
|  Currency Option USD vs BRL | Put | HSBC | 05/14/25 | 5.75 |  |  | 518 | (9383) |
|  Currency Option USD vs INR | Put | JPM | 01/08/26 | 87.00 |  |  | 2328 | (53950) |
|  Currency Option USD vs MXN | Put | MSI | 05/20/25 | 19.75 |  |  | 266 | (3629) |
|  Currency Option USD vs ZAR | Put | MSI | 05/28/25 | 18.10 |  |  | 541 | (1828) |
|  **Total Options Written** (premiums received $235,677) | **Total Options Written** (premiums received $235,677) | **Total Options Written** (premiums received $235,677) | **Total Options Written** (premiums received $235,677) |  |  |  |  | $(288923) |

---

#### Futures contracts outstanding at April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number**<br> **of**<br> **Contracts** | **Type** | **Expiration<br> Date** | **Current**<br>**Notional**<br>**Amount** | **Value /<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Long Positions:** | **Long Positions:** | **Long Positions:** |  |  |
| 110 | 2 Year U.S.Treasury Notes | Jun. 2025 | $22896328 | $159884 |
| 34 | 5 Year U.S.Treasury Notes | Jun. 2025 | 3712641 | 23051 |
| 6 | 10 Year U.S. Treasury Notes | Jun. 2025 | 673313 | 6960 |
| 57 | 10 Year U.S. Ultra Treasury Notes | Jun. 2025 | 6539860 | 43811 |
| 12 | 20 Year U.S. Treasury Bonds | Jun. 2025 | 1399500 | (2727) |
| 38 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2025 | 4599188 | 120336 |
|  |  |  |  | 351315 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

#### Futures contracts outstanding at April 30, 2025 (continued):

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number**<br> **of**<br> **Contracts** | **Type** | **Expiration<br> Date** | **Current<br>Notional<br>Amount** | **Value /<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Short Positions:** | **Short Positions:** |  |  |  |
| 13 | 5 Year Euro-Bobl | Jun. 2025 | $1761797 | $(10601) |
| 15 | 10 Year Euro-Bund | Jun. 2025 | 2239305 | 9841 |
|  |  |  |  | (760) |
|  |  |  |  | $350555 |

---

#### Forward foreign currency exchange contracts outstanding at April 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current<br>Value** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | GSI | BRL | 16701 | $2930232 | $2939272 | $— | $(9040) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | GSI | BRL | 16701 | $2930232 | $2939272 | $— | $(9040) |
|  **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |  |  |  |
|  Brazilian Real, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | GSI | BRL | 20459 | $3565399 | $3600670 | $35271 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/03/25 | GSI | BRL | 16814 | 2930053 | 2937465 | 7412 |  |
|  Chilean Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CLP | 257270 | 270000 | 271606 | 1606 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CLP | 203841 | 213000 | 215200 | 2200 |  |
|  Chinese Renminbi, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CNH | 1917 | 263000 | 264743 | 1743 |  |
|  Colombian Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | GSI | COP | 3251160 | 781792 | 763945 |  | (17847) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | TD | COP | 2370427 | 568000 | 556994 |  | (11006) |
|  Egyptian Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/17/25 | CITI | EGP | 27697 | 500572 | 532155 | 31583 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/09/25 | CITI | EGP | 38655 | 713859 | 735727 | 21868 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/09/25 | CITI | EGP | 31397 | 575881 | 597578 | 21697 |  |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | BOA | EUR | 236 | 270001 | 269065 |  | (936) |
|  Hungarian Forint, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | BARC | HUF | 66307 | 183830 | 184924 | 1094 |  |
|  Indian Rupee, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | INR | 298967 | 3414388 | 3520492 | 106104 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | JPM | INR | 183238 | 2082356 | 2157721 | 75365 |  |
|  Indonesian Rupiah, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | IDR | 36062109 | 2196097 | 2174637 |  | (21460) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | IDR | 11831025 | 718000 | 713441 |  | (4559) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | JPM | IDR | 9000570 | 534000 | 542757 | 8757 |  |
|  Japanese Yen, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | HSBC | JPY | 51199 | 359000 | 361459 | 2459 |  |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 31

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

#### Forward foreign currency exchange contracts outstanding at April 30, 2025 (continued):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement**<br>**Date** | **Current**<br>**Value** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |  |  |  |  |
|  Japanese Yen (cont'd.), |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | SCB | JPY | 98457 | $696720 | $695100 | $— | $(1620) |
|  Malaysian Ringgit, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | MYR | 2452 | 553000 | 569401 | 16401 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | MYR | 1213 | 275000 | 281624 | 6624 |  |
|  Mexican Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNP | MXN | 13392 | 658000 | 678340 | 20340 |  |
|  New Taiwanese Dollar, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | TWD | 8362 | 262000 | 263169 | 1169 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | TWD | 32483 | 1010000 | 1022345 | 12345 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | TWD | 25246 | 767000 | 794563 | 27563 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SCB | TWD | 29870 | 909000 | 940092 | 31092 |  |
|  Peruvian Nuevo Sol, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PEN | 2621 | 710000 | 713647 | 3647 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PEN | 2386 | 650618 | 649884 |  | (734) |
|  Philippine Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | PHP | 112575 | 1964216 | 2015951 | 51735 |  |
|  Polish Zloty, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | HSBC | PLN | 1975 | 520814 | 521402 | 588 |  |
|  South African Rand, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | ZAR | 3373 | 180000 | 180625 | 625 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | ZAR | 18805 | 1021691 | 1007008 |  | (14683) |
|  South Korean Won, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | KRW | 1003580 | 695000 | 706732 | 11732 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | KRW | 370366 | 262000 | 260815 |  | (1185) |
|  Thai Baht, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | THB | 21149 | 636000 | 635425 |  | (575) |
|  Turkish Lira, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/27/25 | BARC | TRY | 19445 | 489794 | 489226 |  | (568) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/27/25 | MSI | TRY | 10606 | 267000 | 266848 |  | (152) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/03/25 | HSBC | TRY | 50812 | 1269106 | 1267995 |  | (1111) |
|  |  |  |  | $33936187 | $34360771 | 501020 | (76436) |
| **Sale**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current<br>Value** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |  |  |  |  |
|  Brazilian Real, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | CITI | BRL | 3758 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661398 | $— | $(24398) |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current**<br>**Value** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |  |  |  |  |
|  Brazilian Real (cont'd.), |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | GSI | BRL | 16701 | $2930232 | $2939272 | $— | $(9040) |
|  British Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | DB | GBP | 102 | 135354 | 136383 |  | (1029) |
|  Chilean Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | CLP | 252008 | 272000 | 266051 | 5949 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CLP | 367183 | 394477 | 387645 | 6832 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | DB | CLP | 252572 | 271000 | 266647 | 4353 |  |
|  Chinese Renminbi, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CNH | 1925 | 263000 | 265850 |  | (2850) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | JPM | CNH | 36027 | 4993447 | 4975180 | 18267 |  |
|  Colombian Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | COP | 1329289 | 319500 | 312351 | 7149 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 1381403 | 319500 | 324597 |  | (5097) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 1169041 | 262000 | 274697 |  | (12697) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 828954 | 189000 | 194784 |  | (5784) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | DB | COP | 1144568 | 270000 | 268946 | 1054 |  |
|  Czech Koruna, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | CITI | CZK | 21758 | 990593 | 989846 | 747 |  |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | HSBC | EUR | 4560 | 5017080 | 5192320 |  | (175240) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | HSBC | EUR | 383 | 437000 | 435736 | 1264 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | SSB | EUR | 4327 | 4954953 | 4927456 | 27497 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | TD | EUR | 4012 | 4585556 | 4569168 | 16388 |  |
|  Indian Rupee, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | INR | 67663 | 782000 | 796761 |  | (14761) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | INR | 67180 | 776000 | 791082 |  | (15082) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | INR | 89844 | 1022000 | 1057959 |  | (35959) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | INR | 71344 | 815000 | 840115 |  | (25115) |
|  Mexican Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | MXN | 8431 | 409136 | 427039 |  | (17903) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | DB | MXN | 13555 | 649000 | 686585 |  | (37585) |
|  New Taiwanese Dollar, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | TWD | 27523 | 840000 | 866221 |  | (26221) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | TWD | 129551 | 3970926 | 4077382 |  | (106456) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | TWD | 30129 | 919000 | 948245 |  | (29245) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | TWD | 27911 | 856000 | 878436 |  | (22436) |
|  Peruvian Nuevo Sol, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SCB | PEN | 2492 | 679000 | 678776 | 224 |  |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 33

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement**<br>**Date** | **Current**<br>**Value** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |  |  |  |
|  Singapore Dollar, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | SGD | 3553 | $2682477 | $2727684 | $— | $(45207) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | SGD | 1094 | 823000 | 839915 |  | (16915) |
|  South African Rand, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | ZAR | 3367 | 180000 | 180281 |  | (281) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | ZAR | 3366 | 180000 | 180265 |  | (265) |
|  South Korean Won, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNP | KRW | 3105336 | 2159197 | 2186810 |  | (27613) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | KRW | 3105336 | 2158027 | 2186810 |  | (28783) |
|  Thai Baht, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | THB | 28497 | 841000 | 856219 |  | (15219) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | THB | 87317 | 2594272 | 2623486 |  | (29214) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | THB | 9221 | 275000 | 277043 |  | (2043) |
|  |  |  |  | $50852727 | $51495441 | 89724 | (732438) |
|  |  |  |  |  |  | $590744 | $(808874) |

---

#### Cross currency exchange contracts outstanding at April 30, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Settlement** | **Type** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **In Exchange**<br>**For (000)** | **In Exchange**<br>**For (000)** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** | **Counterparty** |
|  **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** |  |  |  |  |  |
|  07/22/25 | Buy | EUR | 176 | JPY | 28194 | $1135 | $— | MSI |
|  07/22/25 | Buy | JPY | 28339 | EUR | 176 |  | (115) | CITI |
|  07/22/25 | Buy | JPY | 56731 | EUR | 352 | 152 |  | MSI |
|  07/22/25 | Buy | PLN | 2297 | EUR | 531 | 1444 |  | BNP |
|  |  |  |  |  |  | $2731 | $(115) |  |

---

#### Credit default swap agreements outstanding at April 30, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination**<br>**Date** | **Fixed**<br>**Rate** | **Notional<br>Amount<br>(000)#(3)** | **Implied<br>Credit<br>Spread at<br>April 30,<br>2025(4)** | **Fair<br>Value** | **Upfront<br>Premiums<br>Paid<br>(Received)** | **Unrealized<br>Appreciation**<br>**(Depreciation)** | **Counterparty** |
|  **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** |
|  Islamic Republic of Pakistan | 09/20/25 | 1.000%(Q) | 300 | 4.454% | $(3662) | $(8162) | $4500 | BARC |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

#### Credit default swap agreements outstanding at April 30, 2025 (continued):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination**<br>**Date** | **Fixed**<br>**Rate** | **Notional<br>Amount<br>(000)#(3)** | **Implied<br>Credit<br>Spread at<br>April 30,<br>2025(4)** | **Fair<br>Value** | **Upfront<br>Premiums<br>Paid<br>(Received)** | **Unrealized<br>Appreciation**<br>**(Depreciation)** | **Counterparty** |
|  **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** |
|  Petroleos Mexicanos | 12/24/25 | 3.750%(M) | 233 | 4.157% | $(436) | $— | $(436) | GSI |
|  Petroleos Mexicanos^ | 03/23/26 | 4.100%(M) | 330 | \* | (158) |  | (158) | GSI |
|  Petroleos Mexicanos^ | 05/07/26 | 4.750%(M) | 360 | \* | 2064 |  | 2064 | GSI |
|  Republic of Argentina | 09/20/25 | 5.000%(Q) | 260 | 7.305% | (785) | (2873) | 2088 | BARC |
|  Republic of Argentina | 09/20/25 | 5.000%(Q) | 218 | 7.305% | (658) | (1963) | 1305 | BARC |
|  Republic of Argentina | 06/20/30 | 5.000%(Q) | 334 | 9.033% | (46728) | (47612) | 884 | GSI |
|  Republic of Ivory Coast | 06/20/27 | 1.000%(Q) | 250 | 3.525% | (12236) | (8200) | (4036) | MSI |
|  |  |  |  |  | $(62599) | $(68810) | $6211 |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination**<br>**Date** | **Fixed**<br>**Rate** | **Notional**<br>**Amount**<br>**(000)#(3)** | **Implied Credit**<br>**Spread at**<br>**April 30,**<br>**2025(4)** | **Value at**<br>**Trade Date** | **Value at**<br>**April 30,**<br>**2025** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
|  **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** |  |
|  CDX.EM.36.V3 | 12/20/26 | 1.000%(Q) | 11040 | 1.052% | $(35674) | $3774 | $39448 |
|  CDX.EM.37.V2 | 06/20/27 | 1.000%(Q) | 9279 | 1.253% | (7984) | (37177) | (29193) |
|  CDX.EM.39.V1 | 06/20/28 | 1.000%(Q) | 4794 | 1.401% | (36525) | (50608) | (14083) |
|  CDX.EM.43.V1 | 06/20/30 | 1.000%(Q) | 5163 | 1.992% | (227987) | (222675) | 5312 |
|  |  |  |  |  | $(308170) | $(306686) | $1484 |

---

The Fund entered into credit default swaps ("CDS") to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer's default or the reference entity's credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.

(1) If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 35

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(2) If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(3) Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

\* When an implied credit spread is not available, reference the fair value of credit default swap agreements on credit indices and asset-backed securities. Where the Fund is the seller of protection, it serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms, when compared to the notional amount of the swap, represents a deterioration of the referenced entity's credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. 

#### Interest rate swap agreements outstanding at April 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional**<br>**Amount**<br>**(000)#** | **Notional**<br>**Amount**<br>**(000)#** | **Termination<br>Date** | **Fixed <br> Rate** | **Floating**<br> **Rate** | **Value at<br>Trade Date** | **Value at<br> April 30, <br> 2025** | **Unrealized<br>Appreciation<br> (Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** |  |  |
| BRL | 2676 | 01/04/27 | 10.000 %(T) | 1 Day BROIS(2)(T)/ 0.053% | $— | $(45902) | $(45902) |
| BRL | 342 | 01/04/27 | 11.120 %(T) | 1 Day BROIS(2)(T)/ 0.053% | 1332 | (3908) | (5240) |
| BRL | 7258 | 01/04/27 | 12.640 %(T) | 1 Day BROIS(1)(T)/ 0.053% | (44025) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13550 | 57575 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

#### Interest rate swap agreements outstanding at April 30, 2025 (continued):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notional** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (000)#**  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notional** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (000)#**  | **Termination<br>Date** | **Fixed**<br>**Rate** | **Floating**<br> **Rate** | **Value at<br>Trade Date** | **Value at**<br>**April 30,**<br>**2025** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |  |
|  BRL | 1826 | 01/04/27 | 15.060%(T) | 1 Day BROIS(2)(T)/ 0.053% | $— | $7331 | $7331 |
|  BRL | 6680 | 01/02/29 | 13.482%(T) | 1 Day BROIS(2)(T)/ 0.053% |  | 1169 | 1169 |
|  CZK | 19526 | 06/21/25 | 5.919%(A) | 6 Month PRIBOR(1)(S)/ 3.520% | 147 | (36086) | (36233) |
|  CZK | 23880 | 06/18/30 | 3.218%(A) | 6 Month PRIBOR(2)(S)/ 3.520% |  | (1925) | (1925) |
|  HUF | 317176 | 03/20/26 | 6.195%(A) | 6 Month BUBOR(1)(S)/ 6.500% | (5615) | 3104 | 8719 |
|  HUF | 199328 | 12/18/29 | 5.909%(A) | 6 Month BUBOR(1)(S)/ 6.500% | 3932 | 504 | (3428) |
|  HUF | 145770 | 12/20/33 | 7.420%(A) | 6 Month BUBOR(2)(S)/ 6.500% |  | 33255 | 33255 |
|  INR | 71730 | 12/18/29 | 5.993%(S) | 1 Day MIBOR(2)(S)/ 6.000% |  | 11868 | 11868 |
|  INR | 90196 | 06/18/30 | 5.613%(S) | 1 Day MIBOR(2)(S)/ 6.000% |  | 421 | 421 |
|  KRW | 400000 | 09/21/27 | 3.639%(Q) | 3 Month KWCDC(1)(Q)/ 2.710% | (3603) | (9583) | (5980) |
|  KRW | 870000 | 12/21/27 | 4.197%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% | 21128 | 32167 | 11039 |
|  KRW | 600000 | 03/15/28 | 2.965%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% |  | 8922 | 8922 |
|  KRW | 499398 | 12/20/28 | 3.830%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% | 5211 | 20197 | 14986 |
|  KRW | 1235349 | 12/18/29 | 2.886%(Q) | 3 Month KWCDC(1)(Q)/ 2.710% |  | (24667) | (24667) |
|  KRW | 1698450 | 06/18/30 | 2.423%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% |  | 10294 | 10294 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 37

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notional <br> Amount <br> (000)#** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notional <br> Amount <br> (000)#**  | **Termination<br>Date** | **Fixed**<br>**Rate** | **Floating**<br> **Rate** | **Value at<br>Trade Date** | **Value at<br>April 30,<br>2025** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |  |
|  MXN | 19690 | 06/12/30 | 7.933%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 9.341% | $— | $10819 | $10819 |
|  MXN | 14520 | 06/12/30 | 8.060%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 9.341% |  | 11885 | 11885 |
|  MXN | 18150 | 06/12/30 | 8.084%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 9.341% |  | 15756 | 15756 |
|  PLN | 6830 | 06/21/25 | 6.021%(A) | 6 Month WIBOR(1)(S)/ 5.100% | 4201 | (56208) | (60409) |
|  PLN | 1204 | 06/15/27 | 4.970%(A) | 6 Month WIBOR(2)(S)/ 5.100% | (6120) | 12881 | 19001 |
|  PLN | 2826 | 09/21/27 | 5.487%(A) | 6 Month WIBOR(1)(S)/ 5.100% |  | (43689) | (43689) |
|  PLN | 5393 | 09/21/27 | 6.547%(A) | 6 Month WIBOR(1)(S)/ 5.100% | 1194 | (126255) | (127449) |
|  PLN | 1175 | 10/06/27 | 6.826%(A) | 6 Month WIBOR(2)(S)/ 5.100% |  | 30262 | 30262 |
|  PLN | 460 | 10/25/27 | 7.900%(A) | 6 Month WIBOR(2)(S)/ 5.100% |  | 15959 | 15959 |
|  PLN | 18 | 12/21/27 | 6.845%(A) | 6 Month WIBOR(2)(S)/ 5.100% | 135 | 355 | 220 |
|  PLN | 1884 | 06/19/29 | 4.812%(A) | 6 Month WIBOR(2)(S)/ 5.100% | (3164) | 26938 | 30102 |
|  THB | 29706 | 06/18/30 | 1.358%(Q) | 1 Day THOR(2)(Q)/ 1.741% |  | (2044) | (2044) |
|  ZAR | 52851 | 09/21/27 | 7.490%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | 49954 | (25281) | (75235) |
|  ZAR | 26104 | 09/21/27 | 7.995%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | (2559) | 28805 | 31364 |
|  ZAR | 6182 | 06/21/28 | 8.455%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | (670) | (12461) | (11791) |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional**<br>**Amount**<br>**(000)#** | **Notional**<br>**Amount**<br>**(000)#** | **Termination<br>Date** | **Fixed Rate** | **Floating**<br> **Rate** | **Value at<br>Trade Date** | **Value at<br>April 30,<br>2025** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |  |  |
| ZAR | 6653 | 06/19/29 | 8.930%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | $3463 | $21180 | $17717 |
| ZAR | 6810 | 06/19/29 | 8.933%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% |  | (21714) | (21714) |
| ZAR | 25280 | 12/18/29 | 7.825%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | 4878 | 22377 | 17499 |
| ZAR | 5785 | 03/19/30 | 7.765%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | 327 | (3859) | (4186) |
| ZAR | 10902 | 03/19/30 | 7.981%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | 2025 | 12618 | 10593 |
| ZAR | 7782 | 03/19/30 | 8.060%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% |  | (10403) | (10403) |
| ZAR | 5396 | 11/10/32 | 9.160%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | (13) | 17913 | 17926 |
| ZAR | 13800 | 12/18/34 | 8.683%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% |  | 3497 | 3497 |
| ZAR | 14290 | 03/19/35 | 8.825%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% |  | 8643 | 8643 |
|  |  |  |  |  | $32158 | $(41315) | $(73473) |

---

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Premiums Paid** | **Premiums Received** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** |
| &nbsp;&nbsp; OTC Swap Agreements | $— | $(68810) | $10841 | $(4630) |

---

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

---

| | | |
|:---|:---|:---|
| **Broker** | **Cash and/or Foreign Currency** | **Securities Market Value** |
|  JPS | $— | $4616536 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 39

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

#### 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 April 30, 2025 in valuing such portfolio securities:

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities** |  |  |  |
|  **Assets** |  |  |  |
|  **Long-Term Investments** |  |  |  |
|  Corporate Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argentina | $— | $306728 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Azerbaijan |  | 817164 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bahrain |  | 530000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil |  | 933937 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chile |  | 2494198 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China |  | 526431 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombia |  | 1734554 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costa Rica |  | 201412 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guatemala |  | 339424 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hungary |  | 1100213 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India |  | 2196687 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indonesia |  | 3307343 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Israel |  | 466076 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jamaica |  | 165300 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kazakhstan |  | 1485430 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kuwait |  | 281156 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Macau |  | 321915 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Malaysia |  | 2354538 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico |  | 8216052 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morocco |  | 433419 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Panama |  | 611282 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peru |  | 1547897 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philippines |  | 158626 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Poland |  | 1432984 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qatar |  | 1039200 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saudi Arabia |  | 1706425 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Africa |  | 2774837 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trinidad & Tobago |  | 201000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkey |  | 178470 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ukraine |  | 346606 |  |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities (continued)** |  |  |  |
|  **Assets (continued)** |  |  |  |
|  **Long-Term Investments (continued)** |  |  |  |
|  Corporate Bonds (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4477944 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venezuela |  | 1044070 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vietnam |  | 182214 |  |
|  Sovereign Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Angola |  | 2916365 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Argentina |  | 7274329 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bahrain |  | 3123557 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil |  | 7117059 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chile |  | 417254 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombia |  | 7082172 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costa Rica |  | 2688579 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dominican Republic |  | 9072717 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ecuador |  | 3473589 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Egypt |  | 6078912 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; El Salvador |  | 3216227 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gabon |  | 363559 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ghana |  | 3242397 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guatemala |  | 3635070 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Honduras |  | 197919 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hungary |  | 5284366 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India |  | 545128 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indonesia |  | 3795273 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ivory Coast |  | 3384801 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jamaica |  | 894605 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jordan |  | 1547883 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kenya |  | 503905 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lebanon |  | 1643381 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico |  | 6677847 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mongolia |  | 769200 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Montenegro |  | 201355 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morocco |  | 1625597 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nigeria |  | 2848928 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oman |  | 5288292 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pakistan |  | 2180665 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Panama |  | 4472154 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Papua New Guinea |  | 213975 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paraguay |  | 1235449 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peru |  | 3525445 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philippines |  | 4155599 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Poland |  | 2202569 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qatar |  | 2562099 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Romania |  | 8067485 |  |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 41

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities (continued)** |  |  |  |
|  **Assets (continued)** |  |  |  |
|  **Long-Term Investments (continued)** |  |  |  |
|  Sovereign Bonds (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saudi Arabia | $— | $5199258 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senegal |  | 717707 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Serbia |  | 3813553 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Africa |  | 4300055 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sri Lanka |  | 2209414 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkey |  | 8524889 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ukraine |  | 2706169 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates |  | 2405369 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uruguay |  | 3012155 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uzbekistan |  | 602810 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Venezuela |  | 673957 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zambia |  | 1572598 |  |
|  U.S. Treasury Obligations |  | 4817145 |  |
|  Common Stock |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jamaica |  | 5971 |  |
|  **Short-Term Investments** |  |  |  |
|  Affiliated Mutual Funds | 8377548 |  |  |
|  Options Purchased |  | 44988 |  |
|  **Total** | $**8377548** | $**208045276** | $**—** |
|  **Liabilities** |  |  |  |
|  Options Written | $**—** | $**(288923)** | $**—** |
|  **Other Financial Instruments\*** |  |  |  |
|  **Assets** |  |  |  |
|  Futures Contracts | $363883 | $— | $— |
|  OTC Forward Foreign Currency Exchange Contracts |  | 590744 |  |
|  OTC Cross Currency Exchange Contracts |  | 2731 |  |
|  Centrally Cleared Credit Default Swap Agreements |  | 44760 |  |
|  OTC Credit Default Swap Agreement |  |  | 2064 |
|  Centrally Cleared Interest Rate Swap Agreements |  | 406822 |  |
|  **Total** | $**363883** | $**1045057** | $**2064** |
|  **Liabilities** |  |  |  |
|  Futures Contracts | $(13328) | $— | $— |
|  OTC Forward Foreign Currency Exchange Contracts |  | (808874) |  |
|  OTC Cross Currency Exchange Contracts |  | (115) |  |
|  Centrally Cleared Credit Default Swap Agreements |  | (43276) |  |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Other Financial Instruments\* (continued)** |  |  |  |
|  **Liabilities (continued)** |  |  |  |
|  OTC Credit Default Swap Agreements | $— | $(64505) | $(158) |
|  Centrally Cleared Interest Rate Swap Agreements |  | (480295) |  |
|  **Total** | $**(13328)** | $**(1397065)** | $**(158)** |

---

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

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

---

| | |
|:---|:---|
|  Sovereign Bonds | 74.0 |
|  Oil & Gas | 7.7 |
|  Affiliated Mutual Funds (1.6% represents<br>investments purchased with collateral from<br>securities on loan) | 3.9 |
|  Electric | 2.6 |
|  U.S. Treasury Obligations | 2.3 |
|  Pipelines | 1.5 |
|  Engineering & Construction | 1.4 |
|  Banks | 1.4 |
|  Mining | 1.3 |
|  Commercial Services | 1.1 |
|  Chemicals | 0.7 |
|  Investment Companies | 0.4 |
|  Telecommunications | 0.4 |
|  Transportation | 0.3 |
|  Lodging | 0.3 |
|  Iron/Steel | 0.2 |
|  Computers | 0.2 |
|  Entertainment | 0.2 |

---

---

| | |
|:---|:---|
|  Internet | 0.1% |
|  Retail | 0.1 |
|  Gas | 0.1 |
|  Media | 0.1 |
|  Foods | 0.1 |
|  Beverages | 0.1 |
|  Diversified Financial Services | 0.1 |
|  Options Purchased | 0.0 \* |
|  Real Estate | 0.0 \* |
|  Wireless Telecommunication Services | 0.0 \* |
|  | 100.6 |
|  Options Written | (0.1) |
|  Liabilities in excess of other assets | (0.5) |
|  | 100.0% |

---

\* Less than 0.05% 

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

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 43

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

Operations is presented in the summary below.

Fair values of derivative instruments as of April 30, 2025 as presented in the Statement of Assets and Liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| <br>**Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value** | **Statement of**<br> **Assets and**<br> **Liabilities Location** | **Fair**<br>**Value** | **Statement of**<br> **Assets and**<br> **Liabilities Location** | **Fair**<br>**Value** |
|  Credit contracts | Due from/to broker-variation margin swaps | $44760 \* | Due from/to broker-variation margin swaps | $43276 \* |
|  Credit contracts |  |  | Premiums received for OTC swap agreements | 68810 |
|  Credit contracts | Unrealized appreciation on OTC swap agreements | 10841 | Unrealized depreciation on OTC swap agreements | 4630 |
|  Foreign exchange contracts | Unaffiliated investments | 44988 | Options written outstanding, at value | 288923 |
|  Foreign exchange contracts | Unrealized appreciation on OTC cross currency exchange contracts | 2731 | Unrealized depreciation on OTC cross currency exchange contracts | 115 |
|  Foreign exchange contracts | Unrealized appreciation on OTC forward foreign currency exchange contracts | 590744 | Unrealized depreciation on OTC forward foreign currency exchange contracts | 808874 |
|  Interest rate contracts | Due from/to broker-variation margin futures | 363883 \* | Due from/to broker-variation margin futures | 13328 \* |
|  Interest rate contracts | Due from/to broker-variation margin swaps | 406822 \* | Due from/to broker-variation margin swaps | 480295 \* |
|  |  | $1464769 |  | $1708251 |

---

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

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

The effects of derivative instruments on the Statement of Operations for the six months ended April 30, 2025 are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** |
| **Derivatives not accounted for as hedging**<br> **instruments, carried at fair value** | **Options<br>Purchased(1)** | **Options<br>Written** | **Futures** | **Forward<br>& Cross<br>Currency<br>Exchange<br>Contracts** | **Swaps** |
|  Credit contracts | $— | $— | $— | $— | $113797 |
|  Foreign exchange contracts | (78930) | 410862 |  | (174517) |  |
|  Interest rate contracts |  |  | (268201) |  | (487212) |
|  **Total** | $(78930) | $410862 | $(268201) | $(174517) | $(373415) |

---

(1) Included in net realized gain (loss) on investment transactions in the Statement of Operations.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** |
| **Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value** | **Options<br>Purchased(2)** | **Options<br>Written** | **Futures** | **Forward<br>& Cross<br>Currency<br>Exchange**<br> **Contracts** | **Swaps** |
|  Credit contracts | $— | $— | $— | $— | $(64514) |
|  Foreign exchange contracts | 38232 | (43035) |  | (271786) |  |
|  Interest rate contracts |  |  | 582071 |  | 464539 |
|  **Total** | $38232 | $(43035) | $582071 | $(271786) | $400025 |

---

(2) Included in net change in unrealized appreciation (depreciation) on investments in the Statement of Operations.

For the six months ended April 30, 2025, the Fund's average volume of derivative activities is as follows:

---

| | |
|:---|:---|
| **Derivative Contract Type** | **Average Volume of Derivative Activities\*** |
| &nbsp;&nbsp; Options Purchased (1) | $35968 |
| &nbsp;&nbsp; Options Written (2) | 12710561 |
| &nbsp;&nbsp; Futures Contracts - Long Positions (2) | 32978097 |
| &nbsp;&nbsp; Futures Contracts - Short Positions (2) | 9834392 |
| &nbsp;&nbsp; Forward Foreign Currency Exchange Contracts - Purchased (3) | 40326086 |
| &nbsp;&nbsp; Forward Foreign Currency Exchange Contracts - Sold (3) | 56626407 |
| &nbsp;&nbsp; Cross Currency Exchange Contracts (4) | 470007 |
| &nbsp;&nbsp; Interest Rate Swap Agreements (2) | 34712526 |
| &nbsp;&nbsp; Credit Default Swap Agreements - Buy Protection (2) | 3966667 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 45

------

PGIM Emerging Markets Debt Hard Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | |
|:---|:---|
| **Derivative Contract Type** | **Average Volume of Derivative Activities\*** |
| &nbsp;&nbsp; Credit Default Swap Agreements - Sell Protection (2) | $26105388 |

---

\* Average volume is based on average quarter end balances for the six months ended April 30, 2025.

(1) Cost.

(2) Notional Amount in USD.

(3) Value at Settlement Date.

(4) Value at Trade Date.

#### Financial Instruments/Transactions—Summary of Offsetting and Netting Arrangements:
The Fund invested in OTC derivatives and 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 OTC derivatives and 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<br>Value of<br>Recognized<br>Assets/(Liabilities)** | **Collateral<br>Pledged/(Received)(2)** | **Net<br> Amount** |
| &nbsp;&nbsp; Securities on Loan | $3335066 | $(3335066) | $— |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amounts of<br>Recognized<br>Assets(1)** | **Gross Amounts of<br>Recognized<br>Liabilities(1)** | **Net Amounts of<br>Recognized<br>Assets/(Liabilities)** | **Collateral<br>Pledged/(Received)(2)** | **Net Amount** |
|  BARC | $32537 | $(13566) | $18971 | $— | $18971 |
|  BNP | 21784 | (27613) | (5829) |  | (5829) |
|  BNY |  | (28783) | (28783) |  | (28783) |
|  BOA | 17681 | (110739) | (93058) |  | (93058) |
|  CITI | 199850 | (119070) | 80780 |  | 80780 |
|  DB | 5407 | (38614) | (33207) |  | (33207) |
|  GSI | 45631 | (75093) | (29462) |  | (29462) |
|  HSBC | 44221 | (391726) | (347505) | 347505 |  |
|  JPM | 147160 | (76666) | 70494 |  | 70494 |
|  MSI | 59832 | (276856) | (217024) |  | (217024) |
|  SCB | 31316 | (1620) | 29696 |  | 29696 |
|  SSB | 27497 |  | 27497 |  | 27497 |
|  TD | 16388 | (11006) | 5382 |  | 5382 |
|  | $649304 | $(1171352) | $(522048) | $347505 | $(174543) |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

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

as of April 30, 2025

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

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

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 47

------

PGIM Emerging Markets Debt Hard Currency Fund

**Statement of Assets & Liabilities** (unaudited)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value, including securities on loan of $3,335,066: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $212,091,636) | $208045276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $8,377,397) | 8377548 |
| &nbsp;&nbsp; Foreign currency, at value (cost $840,797) | 829506 |
| &nbsp;&nbsp; Cash segregated for counterparty - OTC | 360000 |
| &nbsp;&nbsp; Dividends and interest receivable | 3039434 |
| &nbsp;&nbsp; Unrealized appreciation on OTC forward foreign currency exchange contracts | 590744 |
| &nbsp;&nbsp; Receivable for investments sold | 205954 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 177889 |
| &nbsp;&nbsp; Due from broker—variation margin swaps | 52806 |
| &nbsp;&nbsp; Unrealized appreciation on OTC swap agreements | 10841 |
| &nbsp;&nbsp; Unrealized appreciation on OTC cross currency exchange contracts | 2731 |
| &nbsp;&nbsp; Prepaid expenses | 1359 |
| &nbsp;&nbsp; **Total Assets** | 221694088 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Payable to broker for collateral for securities on loan | 3400593 |
| &nbsp;&nbsp; Payable for Fund shares purchased | 1617284 |
| &nbsp;&nbsp; Unrealized depreciation on OTC forward foreign currency exchange contracts | 808874 |
| &nbsp;&nbsp; Options written outstanding, at value (premiums received $235,677) | 288923 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 135992 |
| &nbsp;&nbsp; Management fee payable | 88811 |
| &nbsp;&nbsp; Payable for investments purchased | 85019 |
| &nbsp;&nbsp; Premiums received for OTC swap agreements | 68810 |
| &nbsp;&nbsp; Dividends payable | 51190 |
| &nbsp;&nbsp; Due to broker—variation margin futures | 14330 |
| &nbsp;&nbsp; Unrealized depreciation on OTC swap agreements | 4630 |
| &nbsp;&nbsp; Directors' fees payable | 1363 |
| &nbsp;&nbsp; Affiliated transfer agent fee payable | 389 |
| &nbsp;&nbsp; Unrealized depreciation on OTC cross currency exchange contracts | 115 |
| &nbsp;&nbsp; Distribution fee payable | 50 |
| &nbsp;&nbsp; **Total Liabilities** | 6566373 |
| &nbsp;&nbsp; **Net Assets** | $215127715 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 262259276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (47131877) |
| &nbsp;&nbsp; **Net assets, April 30, 2025** | $215127715 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

**Statement of Assets & Liabilities** (unaudited) (continued)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Class A** | &nbsp;&nbsp; **Class A** |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($232,545 ÷ 34,190 shares of beneficial interest issued and outstanding) | $6.80 |
| &nbsp;&nbsp; Maximum sales charge (3.25% of offering price) | 0.23 |
| &nbsp;&nbsp; Maximum offering price to public | $7.03 |
| &nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($10,170 ÷ 1,494 shares of beneficial interest issued and outstanding) | $6.81 |
| &nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($105,385,772 ÷ 15,463,369 shares of beneficial interest issued and outstanding) | $6.82 |
| &nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br> ($109,499,228 ÷ 16,080,902 shares of beneficial interest issued and outstanding) | $6.81 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 49

------

PGIM Emerging Markets Debt Hard Currency Fund

**Statement of Operations** (unaudited)

Six Months Ended April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** |  |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Interest income (net of $58,717 foreign withholding tax) | $7557496 |
| &nbsp;&nbsp; Affiliated dividend income | 61329 |
| &nbsp;&nbsp; Affiliated income from securities lending, net | 4741 |
| &nbsp;&nbsp; **Total income** | 7623566 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 688590 |
| &nbsp;&nbsp; Distribution fee(a) | 211 |
| &nbsp;&nbsp; Custodian and accounting fees | 31396 |
| &nbsp;&nbsp; Audit fee | 28699 |
| &nbsp;&nbsp; Professional fees | 20280 |
| &nbsp;&nbsp; Registration fees(a) | 20260 |
| &nbsp;&nbsp; Shareholders' reports | 19715 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $1,466)(a) | 13941 |
| &nbsp;&nbsp; Directors' fees | 6577 |
| &nbsp;&nbsp; Miscellaneous | 27587 |
| &nbsp;&nbsp; **Total expenses** | 857256 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (151484) |
| &nbsp;&nbsp; **Net expenses** | 705772 |
| &nbsp;&nbsp; Net investment income (loss) | 6917794 |
| &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 $(971)) | (563496) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures transactions | (268201) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward and cross currency contract transactions | (174517) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options written transactions | 410862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreement transactions | (373415) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | (262431) |
|  | (1231198) |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (including affiliated of $151) | (2145053) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | 582071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward and cross currency contracts | (271786) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options written | (43035) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreements | 400025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 4869 |
|  | (1472909) |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | (2704107) |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $4213687 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

**Statement of Operations** (unaudited) (continued)

Six Months Ended April 30, 2025

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class Z** | **Class R6** |
|  Distribution fee | 161 | 50 |  |  |
|  Registration fees | 3225 | 2976 | 6924 | 7135 |
|  Transfer agent's fees and expenses | 334 | 21 | 12380 | 1206 |
|  Fee waiver and/or expense reimbursement | (3543) | (2994) | (59236) | (85711) |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Hard Currency Fund 51

------

PGIM Emerging Markets Debt Hard Currency Fund

**Statements of Changes in Net Assets** (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended<br>April 30, 2025** | **Year Ended<br>October 31, 2024**  |
| &nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $6917794 | $13744243 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | (1231198) | (8784257) |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | (1472909) | 33395017 |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 4213687 | 38355003 |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp; Class A | (6602) | (8757) |
| &nbsp;&nbsp; Class C | (521) | (591) |
| &nbsp;&nbsp; Class Z | (5529836) | (900258) |
| &nbsp;&nbsp; Class R6 | (6640190) | (15836764) |
|  | (12177149) | (16746370) |
| &nbsp;&nbsp; **Fund share transactions (Net of share conversions)** |  |  |
| &nbsp;&nbsp; Net proceeds from shares sold | 100918999 | 53189906 |
| &nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 11661171 | 16442312 |
| &nbsp;&nbsp; Cost of shares purchased | (103291461) | (82070616) |
| &nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | 9288709 | (12438398) |
| &nbsp;&nbsp; Total increase (decrease) | 1325247 | 9170235 |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 213802468 | 204632233 |
| &nbsp;&nbsp; End of period | $215127715 | $213802468 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Hard Currency Fund

Financial Highlights (unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class A Shares** |  |  |  |  |  |  |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $7.07 | $6.41 | $6.40 | $9.06 | $8.86 | $9.51 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.21 | 0.40 | 0.36 | 0.34 | 0.36 | 0.38 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.09) | 0.74 | 0.17 <sup>(b)</sup> | (2.57) | 0.25 | (0.56) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.12 | 1.14 | 0.53 | (2.23) | 0.61 | (0.18) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.39) | (0.48) | (0.52) | (0.43) | (0.41) | (0.47) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $6.80 | $7.07 | $6.41 | $6.40 | $9.06 | $8.86 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 1.70% | 18.19% | 8.07% | (25.24)% | 6.91% | (1.82)% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $233 | $104 | $93 | $63 | $59 | $28 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $129 | $129 | $83 | $74 | $47 | $18 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.05 %<sup>(e)</sup> | 1.06 %<sup>(f)</sup> | 1.06 %<sup>(f)</sup> | 1.05% | 1.05% | 1.05% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 6.57 %<sup>(e)</sup> | 7.28% | 8.75% | 11.65% | 19.07% | 66.11% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 6.14 %<sup>(e)</sup> | 5.70% | 5.29% | 4.36% | 3.84% | 4.19% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup> | 15% | 28% | 29% | 20% | 20% | 23% |

---

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

(b) The per share amount of realized and unrealized gain (loss) on investments does not directly correlate to the amounts reported in the Statement of Operations due to the timing of portfolio share transactions in relation to fluctuating market values.

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

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

(e) Annualized.

(f) Includes interest expense on borrowings from the Syndicated Credit Agreement and certain non-recurring expenses of 0.01% and 0.01% which are being excluded from the Fund's contractual waiver, if applicable, for the years ended October 31, 2024 and 2023, respectively.

(g) 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 Emerging Markets Debt Hard Currency Fund 53

------

PGIM Emerging Markets Debt Hard Currency Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class C Shares** |  |  |  |  |  |  |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $7.08 | $6.41 | $6.40 | $9.06 | $8.86 | $9.51 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.19 | 0.34 | 0.30 | 0.27 | 0.28 | 0.32 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.10) | 0.76 | 0.17 <sup>(b)</sup> | (2.55) | 0.26 | (0.57) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.09 | 1.10 | 0.47 | (2.28) | 0.54 | (0.25) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.36) | (0.43) | (0.46) | (0.38) | (0.34) | (0.40) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $6.81 | $7.08 | $6.41 | $6.40 | $9.06 | $8.86 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 1.32% | 17.47% | 7.26% | (25.82)% | 6.11% | (2.55)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $10 | $10 | $9 | $8 | $11 | $10 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $10 | $10 | $9 | $9 | $11 | $10 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.80 %<sup>(e)</sup> | 1.81 %<sup>(f)</sup> | 1.80% | 1.80% | 1.80% | 1.80% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 61.53 %<sup>(e)</sup> | 74.82% | 63.23% | 81.50% | 78.90% | 114.46% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 5.39 %<sup>(e)</sup> | 4.88% | 4.52% | 3.53% | 3.08% | 3.56% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup> | 15% | 28% | 29% | 20% | 20% | 23% |

---

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

(b) The per share amount of realized and unrealized gain (loss) on investments does not directly correlate to the amounts reported in the Statement of Operations due to the timing of portfolio share transactions in relation to fluctuating market values.

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

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

(e) Annualized.

(f) Includes interest expense on borrowings from the Syndicated Credit Agreement and certain non-recurring expenses of 0.01% which are being excluded from the Fund's contractual waiver, if applicable, for the year ended October 31, 2024.

(g) 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 Emerging Markets Debt Hard Currency Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class Z Shares** |  |  |  |  |  |  |
|  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months<br> Ended<br> April 30,**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** |
|  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Months<br> Ended<br> April 30,**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $7.08 | $6.42 | $6.40 | $9.06 | $8.87 | $9.51 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.22 | 0.41 | 0.37 | 0.35 | 0.38 | 0.40 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.08) | 0.75 | 0.19 <sup>(b)</sup> | (2.55) | 0.25 | (0.54) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.14 | 1.16 | 0.56 | (2.20) | 0.63 | (0.14) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.40) | (0.50) | (0.54) | (0.46) | (0.44) | (0.50) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $6.82 | $7.08 | $6.42 | $6.40 | $9.06 | $8.87 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 1.87% | 18.52% | 8.57% | (25.01)% | 7.11% | (1.43)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $105386 | $15969 | $8793 | $10670 | $18069 | $18982 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $92576 | $12365 | $11553 | $14687 | $25561 | $10951 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.69 %<sup>(e)</sup> | 0.76 %<sup>(f)</sup> | 0.75% | 0.75% | 0.75% | 0.75% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 0.82 %<sup>(e)</sup> | 1.07% | 1.03% | 1.06% | 1.07% | 1.53% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 6.49 %<sup>(e)</sup> | 5.95% | 5.57% | 4.54% | 4.12% | 4.45% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(g)</sup> | 15% | 28% | 29% | 20% | 20% | 23% |

---

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

(b) The per share amount of realized and unrealized gain (loss) on investments does not directly correlate to the amounts reported in the Statement of Operations due to the timing of portfolio share transactions in relation to fluctuating market values.

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

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

(e) Annualized.

(f) Includes interest expense on borrowings from the Syndicated Credit Agreement and certain non-recurring expenses of 0.01% which are being excluded from the Fund's contractual waiver, if applicable, for the year ended October 31, 2024.

(g) 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 Emerging Markets Debt Hard Currency Fund 55

------

PGIM Emerging Markets Debt Hard Currency Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R6 Shares** |  |  |  |  |  |  |
|  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Months<br> Ended<br> April 30,**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** |
|  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Six Months<br> Ended<br> April 30,**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp;**Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Asset Value, Beginning of Period** | $7.08 | $6.41 | $6.40 | $9.06 | $8.86 | $9.51 |
| &nbsp;&nbsp;&nbsp;**Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 0.22 | 0.42 | 0.38 | 0.36 | 0.39 | 0.43 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.09) | 0.76 | 0.17 <sup>(b)</sup> | (2.56) | 0.26 | (0.57) |
| &nbsp;&nbsp;&nbsp;Total from investment operations | 0.13 | 1.18 | 0.55 | (2.20) | 0.65 | (0.14) |
| &nbsp;&nbsp;&nbsp;**Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends from net investment income | (0.40) | (0.51) | (0.54) | (0.46) | (0.45) | (0.51) |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $6.81 | $7.08 | $6.41 | $6.40 | $9.06 | $8.86 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 1.90% | 18.83% | 8.50% | (24.94)% | 7.34% | (1.44)% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net assets, end of period (000) | $109499 | $197719 | $195739 | $129233 | $136285 | $97771 |
| &nbsp;&nbsp;&nbsp;Average net assets (000) | $120915 | $215554 | $180012 | $137772 | $107966 | $30037 |
| &nbsp;&nbsp;&nbsp;Ratios to average net assets<sup>(d)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses after waivers and/or expense reimbursement | 0.65 %<sup>(e)</sup> | 0.66 %<sup>(f)</sup> | 0.66 %<sup>(f)</sup> | 0.65% | 0.65% | 0.66% |
| &nbsp;&nbsp;&nbsp;Expenses before waivers and/or expense reimbursement | 0.79 %<sup>(e)</sup> | 0.79% | 0.79% | 0.78% | 0.81% | 1.16% |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 6.56 %<sup>(e)</sup> | 6.03% | 5.68% | 4.73% | 4.24% | 4.69% |
| &nbsp;&nbsp;&nbsp;Portfolio turnover rate<sup>(g)</sup> | 15% | 28% | 29% | 20% | 20% | 23% |

---

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

(b) The per share amount of realized and unrealized gain (loss) on investments does not directly correlate to the amounts reported in the Statement of Operations due to the timing of portfolio share transactions in relation to fluctuating market values.

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

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

(e) Annualized.

(f) Includes interest expense on borrowings from the Syndicated Credit Agreement and certain non-recurring expenses of 0.01% and 0.01% which are being excluded from the Fund's contractual waiver, if applicable, for the years ended October 31, 2024 and 2023, respectively.

(g) 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 Emerging Markets Debt Local Currency Fund

**Schedule of Investments**(unaudited)

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity <br>Date** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)#**  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount** <br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(000)#**  | **Value** |
| &nbsp;&nbsp; **LONG-TERM INVESTMENTS 89.9%** |  |  |  |  |  |
| &nbsp;&nbsp; **CORPORATE BONDS 1.4%** |  |  |  |  |  |
| &nbsp;&nbsp; **Supranational Bank** |  |  |  |  |  |
| &nbsp;&nbsp; Corp. Andina de Fomento, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 7.500% | 04/08/30 | INR | 20300 | $243522 |
| &nbsp;&nbsp; Inter-American Development Bank, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 7.350 | 10/06/30 | INR | 21000 | 256105 |
| &nbsp;&nbsp; **TOTAL CORPORATE BONDS**<br> (cost $490,589) |  |  |  |  | 499627 |
| &nbsp;&nbsp; **SOVEREIGN BONDS 87.8%** |  |  |  |  |  |
| &nbsp;&nbsp; **Brazil 4.9%** |  |  |  |  |  |
| &nbsp;&nbsp; Brazil Notas do Tesouro Nacional, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, Series NTNB | 6.000 | 08/15/30 | BRL | 2 | 255419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notes, Series NTNF | 10.000 | 01/01/27 | BRL | 9 | 1494842 |
|  |  |  |  |  | 1750261 |
| &nbsp;&nbsp; **Chile 1.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Bonos de la Tesoreria de la Republica en pesos, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 5.000 | 03/01/35 | CLP | 75000 | 75270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 30Y | 6.000 | 01/01/43 | CLP | 135000 | 147950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unsec'd. Notes, 144A | 2.800 | 10/01/33 | CLP | 50000 | 43091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unsec'd. Notes, 144A | 4.700 | 09/01/30 | CLP | 95000 | 96889 |
|  |  |  |  |  | 363200 |
| &nbsp;&nbsp; **China 4.8%** |  |  |  |  |  |
| &nbsp;&nbsp; China Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 1910 | 3.860 | 07/22/49 | CNH | 380 | 71748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series INBK | 1.870 | 09/15/31 | CNH | 1040 | 145328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series INBK | 2.110 | 08/25/34 | CNH | 3710 | 528434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series INBK | 2.190 | 09/25/54 | CNH | 1000 | 147515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series INBK | 2.270 | 05/25/34 | CNH | 1640 | 236739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series INBK | 2.790 | 12/15/29 | CNH | 1010 | 146760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series INBK | 3.020 | 05/27/31 | CNH | 550 | 82071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series INBK | 3.270 | 11/19/30 | CNH | 1650 | 248853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series INBK | 3.320 | 04/15/52 | CNH | 260 | 46137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series INBK | 3.810 | 09/14/50 | CNH | 330 | 62489 |
|  |  |  |  |  | 1716074 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 57

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal<br>Amount**<br> **(000)#** | **Principal<br>Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Colombia 5.7%** |  |  |  |  |  |
| &nbsp;&nbsp; Colombia Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.500% | 03/15/29 |  | 210 | $196875 |
| &nbsp;&nbsp; Colombian TES, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series B | 5.750 | 11/03/27 | COP | 250000 | 54061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series B | 6.000 | 04/28/28 | COP | 1221000 | 259157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series B | 6.250 | 07/09/36 | COP | 3889300 | 586480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series B | 7.000 | 03/26/31 | COP | 631200 | 121041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series B | 7.000 | 06/30/32 | COP | 1536300 | 281541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series B | 7.250 | 10/26/50 | COP | 210000 | 29042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series B | 7.750 | 09/18/30 | COP | 1589600 | 326341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series G | 7.000 | 03/26/31 | COP | 759800 | 145697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series UVR | 3.750 | 06/16/49 | COP | 252156 | 43855 |
|  |  |  |  |  | 2044090 |
| &nbsp;&nbsp; **Czech Republic 3.7%** |  |  |  |  |  |
| &nbsp;&nbsp; Czech Republic Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 049 | 4.200 | 12/04/36 | CZK | 2950 | 133971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 078 | 2.500 | 08/25/28 | CZK | 2100 | 92667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 094 | 0.950 | 05/15/30 | CZK | 4480 | 179043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 103 | 2.000 | 10/13/33 | CZK | 2860 | 111496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 105 | 2.750 | 07/23/29 | CZK | 13290 | 585652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 130 | 0.050 | 11/29/29 | CZK | 6050 | 235106 |
|  |  |  |  |  | 1337935 |
| &nbsp;&nbsp; **Dominican Republic 0.7%** |  |  |  |  |  |
| &nbsp;&nbsp; Dominican Republic International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.950 | 01/25/27 |  | 100 | 100312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 11.250 | 09/15/35 | DOP | 8000 | 140905 |
|  |  |  |  |  | 241217 |
| &nbsp;&nbsp; **Guatemala 0.5%** |  |  |  |  |  |
| &nbsp;&nbsp; Guatemala Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.900 | 06/01/30 |  | 200 | 193200 |
| &nbsp;&nbsp; **Hungary 1.9%** |  |  |  |  |  |
| &nbsp;&nbsp; Hungary Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 29/A | 2.000 | 05/23/29 | HUF | 142890 | 340725 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Hungary (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; Hungary Government Bond, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 31/A | 3.250% | 10/22/31 | HUF | 33070 | $76958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 32/A | 4.750 | 11/24/32 | HUF | 52770 | 131413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 33/A | 2.250 | 04/20/33 | HUF | 24760 | 50881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 38/A | 3.000 | 10/27/38 | HUF | 21890 | 40383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 51/G | 4.000 | 04/28/51 | HUF | 29330 | 51978 |
|  |  |  |  |  | 692338 |
| &nbsp;&nbsp; **India 4.1%** |  |  |  |  |  |
| &nbsp;&nbsp; India Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.180 | 08/14/33 | INR | 46470 | 579069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.260 | 02/06/33 | INR | 20000 | 249820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.300 | 06/19/53 | INR | 14530 | 182937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.410 | 12/19/36 | INR | 37560 | 478993 |
|  |  |  |  |  | 1490819 |
| &nbsp;&nbsp; **Indonesia 11.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Indonesia Treasury Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 056 | 8.375 | 09/15/26 | IDR | 2486000 | 153699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 059 | 7.000 | 05/15/27 | IDR | 7548000 | 459520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 068 | 8.375 | 03/15/34 | IDR | 2405000 | 158959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 071 | 9.000 | 03/15/29 | IDR | 3640000 | 237247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 072 | 8.250 | 05/15/36 | IDR | 3843000 | 253962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 073 | 8.750 | 05/15/31 | IDR | 6870000 | 453950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 075 | 7.500 | 05/15/38 | IDR | 1359000 | 85125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 078 | 8.250 | 05/15/29 | IDR | 1099000 | 70204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 079 | 8.375 | 04/15/39 | IDR | 1031000 | 69183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 082 | 7.000 | 09/15/30 | IDR | 4516000 | 276695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 087 | 6.500 | 02/15/31 | IDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7837000 | 467972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 092 | 7.125 | 06/15/42 | IDR | 1354000 | 82300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 095 | 6.375 | 08/15/28 | IDR | 2401000 | 144277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 096 | 7.000 | 02/15/33 | IDR | 7126000 | 433718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 100 | 6.625 | 02/15/34 | IDR | 5804000 | 345623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 101 | 6.875 | 04/15/29 | IDR | 2629000 | 160043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 103 | 6.750 | 07/15/35 | IDR | 3265000 | 194861 |
|  |  |  |  |  | 4047338 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 59

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Ivory Coast 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Ivory Coast Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.250% | 03/22/30 | EUR | 140 | $147338 |
| &nbsp;&nbsp; **Malaysia 4.9%** |  |  |  |  |  |
| &nbsp;&nbsp; Malaysia Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 120 | 4.065 | 06/15/50 | MYR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1361 | 316697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 222 | 4.696 | 10/15/42 | MYR | 800 | 204013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 317 | 4.762 | 04/07/37 | MYR | 842 | 213089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 318 | 4.642 | 11/07/33 | MYR | 305 | 75686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 411 | 4.232 | 06/30/31 | MYR | 280 | 67374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 413 | 3.844 | 04/15/33 | MYR | 390 | 91480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 415 | 4.254 | 05/31/35 | MYR | 450 | 109116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 419 | 3.828 | 07/05/34 | MYR | 365 | 85610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 519 | 3.757 | 05/22/40 | MYR | 682 | 156402 |
| &nbsp;&nbsp; Malaysia Government Investment Issue, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 121 | 3.447 | 07/15/36 | MYR | 430 | 97118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 219 | 4.467 | 09/15/39 | MYR | 790 | 196439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 223 | 4.291 | 08/14/43 | MYR | 590 | 143291 |
|  |  |  |  |  | 1756315 |
| &nbsp;&nbsp; **Mexico 6.7%** |  |  |  |  |  |
| &nbsp;&nbsp; Mexican Bonos, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series M | 7.500 | 05/26/33 | MXN | 35 | 160829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series M | 7.750 | 05/29/31 | MXN | 119 | 573164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series M | 8.000 | 11/07/47 | MXN | 43 | 180617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series M | 8.500 | 02/28/30 | MXN | 60 | 301895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series M | 10.000 | 11/20/36 | MXN | 18 | 96581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series M | 7.750 | 11/23/34 | MXN | 160 | 734736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series M | 7.750 | 11/13/42 | MXN | 46 | 192061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series M | 8.500 | 11/18/38 | MXN | 33 | 153308 |
|  |  |  |  |  | 2393191 |
| &nbsp;&nbsp; **Peru 3.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Peru Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 5.940 | 02/12/29 | PEN | 800 | 229394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 6.900 | 08/12/37 | PEN | 260 | 69879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 6.950 | 08/12/31 | PEN | 190 | 56096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.350 | 08/12/40 | PEN | 540 | 122354 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Peru (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; Peru Government Bond, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.150% | 08/12/32 | PEN | 1484 | $411429 |
| &nbsp;&nbsp; Peruvian Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.850 | 02/12/42 | PEN | 245 | 64415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.900 | 08/12/37 | PEN | 7 | 1884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.950 | 08/12/31 | PEN | 478 | 141125 |
|  |  |  |  |  | 1096576 |
| &nbsp;&nbsp; **Philippines 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Philippine Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 1060 | 3.625 | 09/09/25 | PHP | 5600 | 98608 |
| &nbsp;&nbsp; **Poland 4.9%** |  |  |  |  |  |
| &nbsp;&nbsp; Republic of Poland Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 0428 | 2.750 | 04/25/28 | PLN | 1480 | 373758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 0429 | 5.750 | 04/25/29 | PLN | 1366 | 375621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 0432 | 1.750 | 04/25/32 | PLN | 710 | 153250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 1030 | 1.250 | 10/25/30 | PLN | 3350 | 741718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 1033 | 6.000 | 10/25/33 | PLN | 390 | 109291 |
|  |  |  |  |  | 1753638 |
| &nbsp;&nbsp; **Romania 4.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Romania Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 05Y | 4.250 | 04/28/36 | RON | 830 | 146615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 07Y | 2.500 | 10/25/27 | RON | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170 | 238649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 07Y | 4.850 | 04/22/26 | RON | 1395 | 311749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 08Y | 7.350 | 04/28/31 | RON | 540 | 122074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 10Y | 6.700 | 02/25/32 | RON | 405 | 88517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 10Y | 7.200 | 10/30/33 | RON | 545 | 121897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 11Y | 7.100 | 07/31/34 | RON | 300 | 66371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 15Y | 3.650 | 09/24/31 | RON | 345 | 63641 |
| &nbsp;&nbsp; Romanian Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.625 | 02/17/28 |  | 100 | 102125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.625 | 09/27/29 | EUR | 230 | 276744 |
|  |  |  |  |  | 1538382 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 61

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Serbia 1.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Serbia International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 1.000% | 09/23/28 | EUR | 200 | $204734 |
| &nbsp;&nbsp; Serbia Treasury Bonds, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 07Y | 4.500 | 01/11/26 | RSD | 9460 | 91508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 12.5 | 4.500 | 08/20/32 | RSD | 6240 | 58462 |
|  |  |  |  |  | 354704 |
| &nbsp;&nbsp; **South Africa 14.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Republic of South Africa Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 2038 | 10.875 | 03/31/38 | ZAR | 6110 | 321190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 2030 | 8.000 | 01/31/30 | ZAR | 11705 | 609854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 2032 | 8.250 | 03/31/32 | ZAR | 16474 | 821667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 2035 | 8.875 | 02/28/35 | ZAR | 12799 | 616797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 2037 | 8.500 | 01/31/37 | ZAR | 17472 | 778300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 2040 | 9.000 | 01/31/40 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10065 | 442903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 2044 | 8.750 | 01/31/44 | ZAR | 6120 | 254597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series 2048 | 8.750 | 02/28/48 | ZAR | 10183 | 417289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series R209 | 6.250 | 03/31/36 | ZAR | 3850 | 146420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series R213 | 7.000 | 02/28/31 | ZAR | 10845 | 523686 |
| &nbsp;&nbsp; Republic of South Africa Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.300 | 10/12/28 |  | 200 | 189386 |
|  |  |  |  |  | 5122089 |
| &nbsp;&nbsp; **Thailand 8.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Thailand Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 1.600 | 12/17/29 | THB | 3885 | 116114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 2.000 | 06/17/42 | THB | 2080 | 58935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 2.875 | 12/17/28 | THB | 22134 | 690756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 2.875 | 06/17/46 | THB | 6220 | 197055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | 3.300 | 06/17/38 | THB | 5750 | 195763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.585 | 12/17/35 | THB | 5915 | 171155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.600 | 06/17/35 | THB | 2700 | 78490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.875 | 06/17/49 | THB | 1063 | 28092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.000 | 12/17/31 | THB | 11505 | 349748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.250 | 03/17/27 | THB | 6300 | 190669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.350 | 06/17/33 | THB | 6230 | 207033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.450 | 06/17/43 | THB | 3523 | 120587 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest <br>Rate** | **Maturity<br>Date** | **Principal**<br> **Amount**<br> **(000)#** | **Principal**<br> **Amount**<br> **(000)#** | **Value** |
| &nbsp;&nbsp; **SOVEREIGN BONDS (Continued)** |  |  |  |  |  |
| &nbsp;&nbsp; **Thailand (cont'd.)** |  |  |  |  |  |
| &nbsp;&nbsp; Thailand Government Bond, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.650% | 06/20/31 | THB | 7249 | $241243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.775 | 06/25/32 | THB | 7760 | 262476 |
|  |  |  |  |  | 2908116 |
| &nbsp;&nbsp; **Turkey 1.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Turkiye Government Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 05Y | 31.080 | 11/08/28 | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10070 | 232230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 10Y | 11.700 | 11/13/30 | TRY | 1400 | 16898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 10Y | 17.800 | 07/13/33 | TRY | 2600 | 40732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds, Series 10Y | 26.200 | 10/05/33 | TRY | 6620 | 144391 |
|  |  |  |  |  | 434251 |
| &nbsp;&nbsp; **Uruguay 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Uruguay Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.500 | 03/15/28 | UYU | 1870 | 43328 |
| &nbsp;&nbsp; **TOTAL SOVEREIGN BONDS**<br> (cost $32,230,389) |  |  |  |  | 31523008 |
| &nbsp;&nbsp; **U.S. TREASURY OBLIGATION(k) 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp; U.S. Treasury Notes |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $199,612) | 4.250 | 12/31/26 |  | 200 | 201828 |
|  |  |  |  | **Shares** |  |
| &nbsp;&nbsp; **COMMON STOCK 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; **Jamaica** |  |  |  |  |  |
| &nbsp;&nbsp; Digicel International Finance Ltd.\*<br>(cost $9,437) |  |  |  | 5242 | 36694 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS**<br> (cost $32,930,027) |  |  |  |  | 32261157 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 63

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** |  |  | **Shares** | **Value** |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENTS 7.1%** |  |  |  |  |
| &nbsp;&nbsp; **AFFILIATED MUTUAL FUND 5.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<br>(cost $1,800,711)(wb) |  |  | 1800711 | $1800711 |
|  |  |  | **Principal<br>Amount<br>(000)#** |  |
| &nbsp;&nbsp; **U.S. TREASURY OBLIGATION(k)(n) 1.9%** |  |  |  |  |
| &nbsp;&nbsp; U.S. Treasury Bills |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $693,295) | 4.250% | 07/22/25 | 700 | 693316 |
| &nbsp;&nbsp; **OPTIONS PURCHASED\*~ 0.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $28,096) |  |  |  | 49888 |
| &nbsp;&nbsp; **TOTAL SHORT-TERM INVESTMENTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $2,522,102) |  |  |  | 2543915 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN 97.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $35,452,129) |  |  |  | 34805072 |
| &nbsp;&nbsp; **OPTIONS WRITTEN\*~ (0.3)%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (premiums received $109,277) |  |  |  | (108269) |
| &nbsp;&nbsp; **TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 96.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $35,342,852) |  |  |  | 34696803 |
| &nbsp;&nbsp; Other assets in excess of liabilities(z) 3.3% |  |  |  | 1199395 |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35896198 |

---

See the Glossary for a list of the abbreviation(s) used in the semiannual report.

\* Non-income producing security.

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

~ See tables subsequent to the Schedule of Investments for options detail. Options with maturity dates greater than one year from date of acquisition would be considered long-term investments.

---

| | |
|:---|:---|
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $1,720 and 0.0% of net assets.  |

---

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

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

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

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

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

#### Options Purchased:
**OTC Traded**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Call/<br>Put** | **Counterparty** | **Expiration<br>Date** | **Strike** | **Contracts** | **Notional<br>Amount**<br>**(000)#** | **Notional<br>Amount**<br>**(000)#** | **Value** |
|  Currency Option EUR vs CZK | Call | MSI | 05/15/25 | 26.50 |  | EUR | 181 | $1 |
|  Currency Option EUR vs MXN | Call | MSI | 05/22/25 | 27.00 |  | EUR | 155 | 6 |
|  Currency Option EUR vs TRY | Call | JPM | 05/06/25 | 70.00 |  | EUR | 423 | 4 |
|  Currency Option EUR vs TRY | Call | JPM | 05/27/25 | 80.00 |  | EUR | 317 | 161 |
|  Currency Option EUR vs USD | Call | JPM | 05/05/25 | 1.12 |  | EUR | 1002 | 15719 |
|  Currency Option USD vs BRL | Call | MSI | 05/08/25 | 7.20 |  |  | 174 |  |
|  Currency Option USD vs BRL | Call | JPM | 05/08/25 | 7.60 |  |  | 87 |  |
|  Currency Option USD vs BRL | Call | MSI | 05/22/25 | 7.00 |  |  | 178 | 6 |
|  Currency Option USD vs BRL | Call | CITI | 05/23/25 | 7.00 |  |  | 177 | 6 |
|  Currency Option USD vs COP | Call | HSBC | 05/08/25 | 5500.00 |  |  | 350 |  |
|  Currency Option USD vs COP | Call | MSI | 05/14/25 | 5200.00 |  |  | 178 | 1 |
|  Currency Option USD vs INR | Call | JPM | 01/08/26 | 91.00 |  |  | 956 | 3410 |
|  Currency Option USD vs KRW | Call | CITI | 05/08/25 | 1650.00 |  |  | 176 |  |
|  Currency Option USD vs KRW | Call | MSI | 05/19/25 | 1600.00 |  |  | 174 | 2 |
|  Currency Option USD vs KRW | Call | MSI | 05/23/25 | 1600.00 |  |  | 177 | 2 |
|  Currency Option USD vs MXN | Call | CITI | 05/05/25 | 24.00 |  |  | 209 |  |
|  Currency Option USD vs MXN | Call | CITI | 05/08/25 | 27.00 |  |  | 175 |  |
|  Currency Option USD vs MXN | Call | MSI | 05/14/25 | 24.00 |  |  | 178 | 1 |
|  Currency Option USD vs TRY | Call | JPM | 05/02/25 | 70.00 |  |  | 209 |  |
|  Currency Option USD vs TRY | Call | JPM | 05/19/25 | 65.00 |  |  | 251 | 209 |
|  Currency Option USD vs TRY | Call | JPM | 05/27/25 | 75.00 |  |  | 89 | 53 |
|  Currency Option USD vs ZAR | Call | CITI | 05/01/25 | 22.00 |  |  | 208 |  |
|  Currency Option USD vs ZAR | Call | CITI | 05/20/25 | 23.00 |  |  | 208 | 3 |
|  Currency Option USD vs ZAR | Call | JPM | 05/28/25 | 22.00 |  |  | 178 | 12 |
|  Currency Option USD vs BRL | Put | JPM | 05/05/25 | 5.00 |  |  | 209 |  |
|  Currency Option USD vs BRL | Put | CITI | 05/08/25 | 5.20 |  |  | 176 | 1 |
|  Currency Option USD vs BRL | Put | MSI | 05/08/25 | 5.20 |  |  | 546 | 3 |
|  Currency Option USD vs BRL | Put | HSBC | 05/14/25 | 5.00 |  |  | 178 | 1 |
|  Currency Option USD vs CNH | Put | JPM | 05/08/25 | 6.10 |  |  | 534 |  |
|  Currency Option USD vs CNH | Put | MSI | 06/26/25 | 6.50 |  |  | 1248 | 37 |
|  Currency Option USD vs INR | Put | JPM | 01/08/26 | 75.00 |  |  | 1508 | 231 |
|  Currency Option USD vs INR | Put | JPM | 01/08/26 | 75.00 |  |  | 398 | 61 |
|  Currency Option USD vs MXN | Put | MSI | 05/20/25 | 17.50 |  |  | 87 |  |
|  Currency Option USD vs ZAR | Put | MSI | 05/28/25 | 16.80 |  |  | 178 | 8 |
|  **Total OTC Traded** (cost $11,018) |  |  |  |  |  |  |  | $19938 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 65

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

#### Options Purchased (continued):

#### OTC Swaptions

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Call/<br>Put** | **Counterparty** | **Expiration<br>Date** | **Strike** | **Receive** | **Pay** | **Notional<br>Amount<br>(000)#** | **Value** |
|  5-Year Interest Rate Swap, 02/26/31 | Call | MSI | 02/24/26 | 2.80% | 2.80%(A) | 1 Day SOFR(A)/ 4.410% | 3400 | $29950 |
|  2-Year Interest Rate Swap, 05/13/27 | Put | MSI | 05/09/25 | 5.50% | 1 Day SOFR(A)/ 4.410% | 5.50%(A) | 5800 |  |
|  2-Year Interest Rate Swap, 05/14/27 | Put | MSI | 05/12/25 | 2.40% | 6 Month EURIBOR(S)/ 2.129% | 2.40%(A) | EUR 2,100 |  |
|  2-Year Interest Rate Swap, 05/14/27 | Put | MSI | 05/12/25 | 3.15% | 6 Month EURIBOR(S)/ 2.129% | 3.15%(A) | EUR 2,100 |  |
|  **Total OTC Swaptions** (cost $17,078) | **Total OTC Swaptions** (cost $17,078) | **Total OTC Swaptions** (cost $17,078) | **Total OTC Swaptions** (cost $17,078) |  |  |  |  | $29950 |
|  **Total Options Purchased** (cost $28,096) | **Total Options Purchased** (cost $28,096) | **Total Options Purchased** (cost $28,096) | **Total Options Purchased** (cost $28,096) |  |  |  |  | $49888 |

---

#### Options Written:

#### OTC Traded

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Call/<br>Put** | **Counterparty** | **Expiration<br>Date** | **Strike** | **Notional<br>Amount<br>(000)#** | **Value** |
|  Currency Option EUR vs CZK | Call | MSI | 05/15/25 | 25.08 – EUR | 181 | $(348) |
|  Currency Option EUR vs MXN | Call | MSI | 05/22/25 | 23.25 – EUR | 155 | (482) |
|  Currency Option EUR vs TRY | Call | JPM | 05/27/25 | 47.00 – EUR | 317 | (3425) |
|  Currency Option EUR vs USD | Call | JPM | 05/05/25 | 1.15 – EUR | 1002 | (1003) |
|  Currency Option USD vs BRL | Call | MSI | 05/22/25 | 5.90 – | 178 | (630) |
|  Currency Option USD vs BRL | Call | CITI | 05/23/25 | 5.85 – | 177 | (893) |
|  Currency Option USD vs COP | Call | HSBC | 05/08/25 | 4290.00 – | 350 | &nbsp;&nbsp;&nbsp;&nbsp;(1289) |
|  Currency Option USD vs COP | Call | MSI | 05/14/25 | 4200.00 – | 178 | (2706) |
|  Currency Option USD vs KRW | Call | MSI | 05/19/25 | 1420.00 – | 174 | (1989) |
|  Currency Option USD vs KRW | Call | MSI | 05/23/25 | 1435.00 – | 177 | (1255) |
|  Currency Option USD vs MXN | Call | MSI | 05/14/25 | 19.90 – | 178 | (833) |
|  Currency Option USD vs TRY | Call | JPM | 05/02/25 | 40.00 – | 209 | (11) |
|  Currency Option USD vs TRY | Call | JPM | 05/19/25 | 40.00 – | 251 | (1947) |
|  Currency Option USD vs TRY | Call | JPM | 05/27/25 | 41.50 – | 89 | (615) |
|  Currency Option USD vs ZAR | Call | CITI | 05/20/25 | 19.00 – | 208 | (1090) |
|  Currency Option USD vs ZAR | Call | JPM | 05/28/25 | 19.00 – | 178 | (1259) |
|  Currency Option USD vs BRL | Put | JPM | 05/05/25 | 5.55 – | 209 | (82) |
|  Currency Option USD vs BRL | Put | CITI | 05/08/25 | 5.80 – | 176 | (4204) |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

#### Options Written (continued):

#### OTC Traded

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Call/<br>Put** | **Counterparty** | **Expiration<br>Date** | **Strike** | **Contracts** | **Notional<br>Amount<br>(000)#** | **Value** |
|  Currency Option USD vs BRL | Put | MSI | 05/08/25 | 6.20 |  | 546 | $(50693) |
|  Currency Option USD vs BRL | Put | HSBC | 05/14/25 | 5.75 |  | 178 | (3224) |
|  Currency Option USD vs INR | Put | JPM | 01/08/26 | 87.00 |  | 956 | (22155) |
|  Currency Option USD vs MXN | Put | MSI | 05/20/25 | 19.75 |  | 87 | (1187) |
|  Currency Option USD vs ZAR | Put | MSI | 05/28/25 | 18.10 |  | 178 | (601) |
|  **Total OTC Traded** (premiums received $82,620) |  |  |  |  |  |  | $(101921) |

---

#### OTC Swaptions

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Call/<br>Put** | **Counterparty** | **Expiration<br>Date** | **Strike** | **Receive** | **Pay** | **Notional<br>Amount**<br>**(000)#** | **Value** |
|  2-Year Interest Rate Swap, 05/13/27 | Put | MSI | 05/09/25 | 3.60% | 3.60%(A) | 1 Day SOFR(A)/ 4.410% | 5800 | $(931) |
|  2-Year Interest Rate Swap, 05/14/27 | Put | MSI | 05/12/25 | 2.53% | 2.53%(A) | 6 Month EURIBOR(S)/ 2.129% | EUR 4,200 |  |
|  5-Year Interest Rate Swap, 02/26/31 | Put | MSI | 02/24/26 | 4.60% | 4.60%(A) | 1 Day SOFR(A)/ 4.410% | 1700 | (5417) |
|  **Total OTC Swaptions** (premiums received $26,657) | **Total OTC Swaptions** (premiums received $26,657) | **Total OTC Swaptions** (premiums received $26,657) | **Total OTC Swaptions** (premiums received $26,657) |  |  |  |  | $(6348) |
|  **Total Options Written** (premiums received $109,277) | **Total Options Written** (premiums received $109,277) | **Total Options Written** (premiums received $109,277) | **Total Options Written** (premiums received $109,277) |  |  |  |  | $(108269) |

---

#### Futures contracts outstanding at April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number**<br> **of**<br> **Contracts** | **Type** | **Expiration<br>Date** | **Current<br>Notional<br>Amount** | **Value /<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Long Positions:** | **Long Positions:** |  |  |  |
| 28 | 5 Year U.S. Treasury Notes | Jun. 2025 | $3057469 | $28168 |
| 1 | 20 Year U.S. Treasury Bonds | Jun. 2025 | 116625 | 2217 |
|  |  |  |  | 30385 |
|  **Short Positions:** | **Short Positions:** |  |  |  |
| 2 | 2 Year U.S. Treasury Notes | Jun. 2025 | 416297 | (2682) |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 67

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

#### Futures contracts outstanding at April 30, 2025 (continued):

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Number**<br> **of**<br> **Contracts** | **Type** | **Expiration<br> Date**  | Current<br>Notional<br>Amount | **Value /<br>Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Short Positions (cont'd):** | **Short Positions (cont'd):** |  |  |  |
| 4 | 5 Year Euro-Bobl | Jun. 2025 | $542091 | $(3262) |
| 4 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2025 | 484125 | (7475) |
|  |  |  |  | (13419) |
|  |  |  |  | $16966 |

---

#### Forward foreign currency exchange contracts outstanding at April 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current<br>Value** | **Unrealized<br>Appreciation** | **Unrealized**<br>**Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |  |  |  |
|  Brazilian Real, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | CITI | BRL | 2349 | $396301 | $413419 | $17118 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | GSI | BRL | 12915 | 2250714 | 2272979 | 22265 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | MSI | BRL | 190 | 32028 | 33459 | 1431 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/03/25 | CITI | BRL | 177 | 30979 | 30945 |  | (34) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/03/25 | GSI | BRL | 9836 | 1714029 | 1718365 | 4336 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/03/25 | MSI | BRL | 636 | 111553 | 111065 |  | (488) |
|  Chilean Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CLP | 293533 | 315353 | 309891 |  | (5462) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CLP | 99096 | 104000 | 104619 | 619 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CLP | 17226 | 18000 | 18186 | 186 |  |
|  Chinese Renminbi, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | CNH | 527 | 72750 | 72833 | 83 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNP | CNH | 911 | 124550 | 125803 | 1253 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CNH | 634 | 87000 | 87576 | 576 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | CNH | 395 | 54835 | 54501 |  | (334) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | JPM | CNH | 459 | 63525 | 63409 |  | (116) |
|  Colombian Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | COP | 2000000 | 455919 | 469953 | 14034 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | COP | 1800000 | 432578 | 422957 |  | (9621) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | COP | 675000 | 155736 | 158609 | 2873 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 280111 | 63902 | 65820 | 1918 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | TD | COP | 1060015 | 254000 | 249078 |  | (4922) |
|  Czech Koruna, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | BOA | CZK | 3511 | 158208 | 159748 | 1540 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | CITI | CZK | 1003 | 45684 | 45650 |  | (34) |
|  Egyptian Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/19/25 | CITI | EGP | 7651 | 141396 | 149002 | 7606 |  |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

#### Forward foreign currency exchange contracts outstanding at April 30, 2025 (continued):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current<br>Value** | **Unrealized<br>Appreciation** | **Unrealized**<br>**Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |  |  |
|  Egyptian Pound (cont'd.), |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/19/25 | SCB | EGP | 6987 | $129335 | $136065 | $6730 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/27/25 | CITI | EGP | 8806 | 161733 | 170779 | 9046 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/27/25 | SCB | EGP | 6869 | 126802 | 133205 | 6403 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/17/25 | CITI | EGP | 13822 | 249817 | 265579 | 15762 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/09/25 | CITI | EGP | 4136 | 75866 | 78724 | 2858 |  |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | BOA | EUR | 78 | 89000 | 88692 |  | (308) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | SCB | EUR | 31 | 35742 | 35677 |  | (65) |
|  Hungarian Forint, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | BARC | HUF | 49036 | 135948 | 136757 | 809 |  |
|  Indian Rupee, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | INR | 1898 | 22205 | 22351 | 146 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | INR | 245065 | 2798796 | 2885770 | 86974 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | INR | 14500 | 169701 | 170740 | 1039 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | INR | 13593 | 157772 | 160065 | 2293 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | JPM | INR | 150201 | 1706921 | 1768698 | 61777 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | INR | 27205 | 316369 | 320348 | 3979 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | INR | 3205 | 37031 | 37742 | 711 |  |
|  Indonesian Rupiah, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | IDR | 716191 | 42860 | 43188 | 328 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | IDR | 455127 | 26994 | 27445 | 451 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | IDR | 12500000 | 733568 | 753782 | 20214 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | IDR | 7000000 | 423908 | 422117 |  | (1791) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | IDR | 5000000 | 295911 | 301513 | 5602 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | IDR | 4000000 | 240891 | 241210 | 319 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | IDR | 970163 | 59265 | 58504 |  | (761) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | IDR | 5454135 | 331000 | 328898 |  | (2102) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | JPM | IDR | 4230605 | 251000 | 255116 | 4116 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | IDR | 1800626 | 108429 | 108582 | 153 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | IDR | 585404 | 34721 | 35301 | 580 |  |
|  Japanese Yen, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | SCB | JPY | 45333 | 320793 | 320047 |  | (746) |
|  Malaysian Ringgit, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | MYR | 1113 | 251000 | 258444 | 7444 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | MYR | 95 | 21811 | 22045 | 234 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | MYR | 11285 | 2567435 | 2620629 | 53194 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | MYR | 560 | 127000 | 130059 | 3059 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | MYR | 144 | 32707 | 33449 | 742 |  |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 69

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase**<br> **Contracts** | **Counterparty** | **Notional<br>Amount**<br>**(000)** | **Notional<br>Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current<br>Value** | **Unrealized<br>Appreciation** | **Unrealized**<br>**Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |  |  |  |
|  Mexican Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | MXN | 2304 | $113958 | $116691 | $2733 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNP | MXN | 6452 | 317000 | 326799 | 9799 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | MXN | 44580 | 2163414 | 2258079 | 94665 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | MXN | 791 | 38326 | 40087 | 1761 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | GSI | MXN | 460 | 23210 | 23284 | 74 |  |
|  New Taiwanese Dollar, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | TWD | 10297 | 313156 | 324065 | 10909 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | TWD | 2992 | 91900 | 94155 | 2255 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | TWD | 15796 | 480822 | 497140 | 16318 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | TWD | 2840 | 89000 | 89397 | 397 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | TWD | 1303 | 40628 | 41010 | 382 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | TWD | 9713 | 302000 | 305691 | 3691 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | TWD | 9710 | 295000 | 305601 | 10601 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SCB | TWD | 9102 | 277000 | 286475 | 9475 |  |
|  Peruvian Nuevo Sol, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PEN | 1177 | 319000 | 320638 | 1638 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PEN | 1000 | 274620 | 272329 |  | (2291) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PEN | 500 | 136998 | 136165 |  | (833) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | PEN | 272 | 74314 | 73949 |  | (365) |
|  Philippine Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | PHP | 49697 | 867109 | 889947 | 22838 |  |
|  Polish Zloty, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | GSI | PLN | 1584 | 417758 | 418277 | 519 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | GSI | PLN | 84 | 22661 | 22290 |  | (371) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | HSBC | PLN | 2656 | 704519 | 701351 |  | (3168) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | MSI | PLN | 132 | 34763 | 34764 | 1 |  |
|  Romanian Leu, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | HSBC | RON | 349 | 79254 | 79023 |  | (231) |
|  Singapore Dollar, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | SGD | 260 | 193217 | 199469 | 6252 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | SGD | 346 | 259420 | 265839 | 6419 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SSB | SGD | 39 | 29430 | 29632 | 202 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | TD | SGD | 167 | 126061 | 128543 | 2482 |  |
|  South African Rand, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | ZAR | 3427 | 178896 | 183493 | 4597 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | ZAR | 1312 | 70000 | 70243 | 243 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | ZAR | 487 | 24850 | 26089 | 1239 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | DB | ZAR | 8418 | 458712 | 450789 |  | (7923) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SSB | ZAR | 7269 | 368353 | 389229 | 20876 |  |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current<br>Value** | **Unrealized<br>Appreciation** | **Unrealized**<br>**Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |  |  |  |
|  South African Rand (cont'd.), |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | UAG | ZAR | 524 | $27857 | $28058 | $201 | $— |
|  South Korean Won, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | KRW | 309984 | 212624 | 218294 | 5670 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | KRW | 293132 | 203000 | 206427 | 3427 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | KRW | 500000 | 342334 | 352105 | 9771 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | KRW | 144747 | 101884 | 101932 | 48 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | KRW | 125811 | 89000 | 88598 |  | (402) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | KRW | 51376 | 36302 | 36179 |  | (123) |
|  Thai Baht, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | THB | 752 | 22294 | 22585 | 291 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | GSI | THB | 14970 | 445000 | 449781 | 4781 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | THB | 17099 | 493307 | 513762 | 20455 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | THB | 6052 | 182000 | 181835 |  | (165) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | THB | 507 | 15389 | 15238 |  | (151) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SCB | THB | 7037 | 208040 | 211419 | 3379 |  |
|  Turkish Lira, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/27/25 | BARC | TRY | 18014 | 453744 | 453218 |  | (526) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/27/25 | MSI | TRY | 3377 | 85000 | 84952 |  | (48) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/03/25 | HSBC | TRY | 2621 | 65457 | 65400 |  | (57) |
|  |  |  |  | $31333952 | $31939704 | 649190 | (43438) |
| **Sale**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current<br>Value** | **Unrealized<br>Appreciation** | **Unrealized**<br>**Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts:** |  |  |  |  |  |  |  |
|  Brazilian Real, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | CITI | BRL | 2817 | $477525 | $495815 | $— | $(18290) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | CITI | BRL | 1156 | 196000 | 203507 |  | (7507) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | CITI | BRL | 1135 | 192667 | 199745 |  | (7078) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | CITI | BRL | 366 | 61918 | 64500 |  | (2582) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | GSI | BRL | 9770 | 1714133 | 1719421 |  | (5288) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/05/25 | MSI | BRL | 209 | 35684 | 36869 |  | (1185) |
|  Chilean Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | CLP | 115813 | 125000 | 122266 | 2734 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CLP | 86642 | 87389 | 91470 |  | (4081) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | DB | CLP | 96928 | 104000 | 102329 | 1671 |  |
|  Chinese Renminbi, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CA | CNH | 258 | 35505 | 35645 |  | (140) |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 71

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current<br>Value** | **Unrealized<br>Appreciation** | **Unrealized**<br>**Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |  |  |  |
|  Chinese Renminbi (cont'd.), |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | CNH | 637 | $87000 | $87943 | $— | $(943) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | DB | CNH | 801 | 111396 | 110668 | 728 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SSB | CNH | 636 | 87263 | 87793 |  | (530) |
|  Colombian Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | COP | 474300 | 114000 | 111449 | 2551 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | COP | 169683 | 40628 | 39872 | 756 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 2963424 | 712756 | 696335 | 16421 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 1760479 | 419861 | 413670 | 6191 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 1000632 | 226600 | 235125 |  | (8525) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 789480 | 180000 | 185509 |  | (5509) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 492895 | 114000 | 115819 |  | (1819) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 392655 | 88000 | 92265 |  | (4265) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | COP | 364028 | 82423 | 85538 |  | (3115) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | DB | COP | 440871 | 104000 | 103594 | 406 |  |
|  Egyptian Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 05/27/25 | CITI | EGP | 7756 | 149229 | 150416 |  | (1187) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/09/25 | SCB | EGP | 5928 | 109028 | 112824 |  | (3796) |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | HSBC | EUR | 343 | 377086 | 390257 |  | (13171) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | HSBC | EUR | 125 | 143000 | 142586 | 414 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | SSB | EUR | 99 | 113563 | 112933 | 630 |  |
|  Hungarian Forint, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | BARC | HUF | 13270 | 37149 | 37009 | 140 |  |
|  Indian Rupee, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | INR | 63560 | 735903 | 748451 |  | (12548) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | INR | 17850 | 203530 | 210193 |  | (6663) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | INR | 49987 | 579457 | 588622 |  | (9165) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | INR | 21816 | 252000 | 256898 |  | (4898) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | INR | 39911 | 454000 | 469974 |  | (15974) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | INR | 32915 | 376000 | 387587 |  | (11587) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SSB | INR | 21091 | 244000 | 248362 |  | (4362) |
|  Indonesian Rupiah, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | IDR | 12858142 | 757029 | 775378 |  | (18349) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | IDR | 1571493 | 96145 | 94765 | 1380 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | IDR | 2231102 | 132362 | 134541 |  | (2179) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | IDR | 1728550 | 103863 | 104236 |  | (373) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | JPM | IDR | 14436468 | 873561 | 870556 | 3005 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | IDR | 899782 | 53408 | 54259 |  | (851) |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale**<br> **Contracts** | **Counterparty** | **Notional<br>Amount**<br>**(000)** | **Notional<br>Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current<br>Value** | **Unrealized<br>Appreciation** | **Unrealized**<br>**Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |  |  |  |
|  Malaysian Ringgit, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | MYR | 2031 | $459868 | $471692 | $— | $(11824) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | MYR | 1539 | 343841 | 357472 |  | (13631) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | MYR | 202 | 45791 | 46948 |  | (1157) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | MYR | 235 | 53362 | 54610 |  | (1248) |
|  Mexican Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | MXN | 1594 | 80945 | 80748 | 197 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | DB | MXN | 4365 | 209000 | 221104 |  | (12104) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | GSI | MXN | 870 | 41758 | 44070 |  | (2312) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | MXN | 8652 | 426143 | 438259 |  | (12116) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SSB | MXN | 6044 | 289225 | 306117 |  | (16892) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SSB | MXN | 1850 | 91926 | 93720 |  | (1794) |
|  New Taiwanese Dollar, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | TWD | 11468 | 350000 | 360925 |  | (10925) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | TWD | 62102 | 1903503 | 1954534 |  | (51031) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | TWD | 14163 | 432000 | 445747 |  | (13747) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | MSI | TWD | 13988 | 429000 | 440244 |  | (11244) |
|  Peruvian Nuevo Sol, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | PEN | 112 | 30446 | 30380 | 66 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PEN | 2732 | 744962 | 744122 | 840 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PEN | 105 | 27874 | 28542 |  | (668) |
|  Philippine Peso, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | PHP | 6280 | 109358 | 112467 |  | (3109) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PHP | 8581 | 149383 | 153665 |  | (4282) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PHP | 2885 | 50318 | 51665 |  | (1347) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | PHP | 1060 | 18687 | 18987 |  | (300) |
|  Romanian Leu, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | BARC | RON | 167 | 38024 | 37890 | 134 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 07/22/25 | GSI | RON | 250 | 56788 | 56556 | 232 |  |
|  Singapore Dollar, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | SGD | 1830 | 1381672 | 1404957 |  | (23285) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BOA | SGD | 508 | 382000 | 389851 |  | (7851) |
|  South African Rand, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNP | ZAR | 686 | 36232 | 36727 |  | (495) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | ZAR | 1309 | 70000 | 70109 |  | (109) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | ZAR | 50237 | 2729370 | 2690144 | 39226 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | ZAR | 2524 | 126854 | 135153 |  | (8299) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | ZAR | 1309 | 70000 | 70103 |  | (103) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | ZAR | 1111 | 56823 | 59509 |  | (2686) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | JPM | ZAR | 1859 | 100434 | 99531 | 903 |  |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 73

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale**<br> **Contracts** | **Counterparty** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **Value at<br>Settlement**<br>**Date** | **Current**<br>**Value** | **Unrealized<br>Appreciation** | **Unrealized**<br>**Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |  |  |  |
|  South African Rand (cont'd.), |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | SSB | ZAR | 1793 | $93912 | $96030 | $— | $(2118) |
|  South Korean Won, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNP | KRW | 1544046 | 1073604 | 1087334 |  | (13730) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BNY | KRW | 1544046 | 1073022 | 1087334 |  | (14312) |
|  Thai Baht, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | BARC | THB | 855 | 25548 | 25683 |  | (135) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | THB | 12436 | 367000 | 373641 |  | (6641) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | CITI | THB | 11827 | 342866 | 355352 |  | (12486) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | THB | 41575 | 1235236 | 1249146 |  | (13910) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 06/18/25 | HSBC | THB | 4258 | 127000 | 127944 |  | (944) |
|  |  |  |  | $26861836 | $27236006 | 78625 | (452795) |
|  |  |  |  |  |  | $727815 | $(496233) |

---

#### Cross currency exchange contracts outstanding at April 30, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Settlement** | **Type** | **Notional**<br>**Amount**<br>**(000)** | **Notional**<br>**Amount**<br>**(000)** | **In Exchange**<br>**For (000)** | **In Exchange**<br>**For (000)** | **Unrealized**<br>**Appreciation** | **Unrealized**<br>**Depreciation** | **Counterparty** |
|  **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** |  |  |  |
|  07/22/25 | Buy | EUR | 58 | JPY | 9276 | $373 | $— | MSI |
|  07/22/25 | Buy | JPY | 9324 | EUR | 58 |  | (38) | CITI |
|  07/22/25 | Buy | JPY | 18665 | EUR | 116 | 50 |  | MSI |
|  07/22/25 | Buy | PLN | 1050 | EUR | 243 | 660 |  | BNP |
|  |  |  |  |  |  | $1083 | $(38) |  |

---

#### Credit default swap agreements outstanding at April 30, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination<br>Date** | **Fixed<br>Rate** | **Notional<br>Amount<br>(000)#(3)** | **Implied<br>Credit**<br>**Spread at**<br>**April 30,**<br>**2025(4)** | **Fair**<br>**Value** | **Upfront<br>Premiums<br>Paid**<br>**(Received)** | **Unrealized<br>Appreciation**<br>**(Depreciation)** | **Counterparty** |
|  **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** |  |
|  Petroleos Mexicanos^ | 05/07/26 | 4.750 %(M) | 300 | \* | $1720 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | $1720 | GSI |
|  Republic of Argentina | 09/20/25 | 5.000 %(Q) | 70 | 7.305% | (212) | (774) | 562 | BARC |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

#### Credit default swap agreements outstanding at April 30, 2025 (continued):

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination**<br>**Date** | **Fixed**<br>**Rate** | **Notional<br>Amount<br>(000)#(3)** | **Implied<br>Credit<br>Spread at<br>April 30,<br>2025(4)** | **Fair**<br>**Value** | **Upfront<br>Premiums<br>Paid<br>(Received)** | **Unrealized<br>Appreciation**<br>**(Depreciation)** | **Counterparty** |
|  **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** |
|  Republic of Argentina | 09/20/25 | 5.000%(Q) | 53 | 7.305% | $(160) | $(477) | $317 | BARC |
|  Republic of Ivory Coast | 06/20/26 | 1.000%(Q) | 300 | 2.969% | (6159) | (5341) | (818) | JPM |
|  Republic of Ivory Coast | 06/20/27 | 1.000%(Q) | 150 | 3.525% | (7341) | (4920) | (2421) | MSI |
|  Republic of Panama | 06/20/27 | 1.000%(Q) | 500 | 1.385% | (3351) | (2932) | (419) | MSI |
|  Republic of Turkey | 12/20/25 | 1.000%(Q) | 600 | 1.754% | (2165) | (2543) | 378 | MSI |
|  Republic of Turkey | 12/20/25 | 1.000%(Q) | 200 | 1.754% | (722) | (608) | (114) | MSI |
|  |  |  |  |  | $(18390) | $(17595) | $(795) |  |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination**<br>**Date** | **Fixed**<br>**Rate** | **Notional**<br>**Amount**<br>**(000)#(3)** | **Implied Credit<br>Spread at<br>April 30,<br>2025(4)** | **Value at**<br>**Trade Date** | **Value at<br>April 30,<br>2025** | **Unrealized**<br>**Appreciation<br>(Depreciation)** |
|  **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):** |  |  |
|  CDX.EM.36.V3 | 12/20/26 | 1.000%(Q) | 1242 | 1.052% | $(4473) | $425 | $4898 |
|  CDX.EM.37.V2 | 06/20/27 | 1.000%(Q) | 779 | 1.253% | (770) | (3121) | (2351) |
|  CDX.EM.39.V1 | 06/20/28 | 1.000%(Q) | 887 | 1.401% | (6826) | (9364) | (2538) |
|  |  |  |  |  | $(12069) | $(12060) | $9 |

---

The Fund entered into credit default swaps ("CDS") to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer's default or the reference entity's credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.

(1) If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(2) If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 75

------

PGIM Emerging Markets Debt Local Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. <br>

(3) Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

\* When an implied credit spread is not available, reference the fair value of credit default swap agreements on credit indices and asset-backed securities. Where the Fund is the seller of protection, it serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms, when compared to the notional amount of the swap, represents a deterioration of the referenced entity's credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. 

#### Interest rate swap agreements outstanding at April 30, 2025:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional**<br>**Amount**<br>**(000)#** | **Notional**<br>**Amount**<br>**(000)#** | **Termination<br>Date** | **Fixed**<br> **Rate** | **Floating**<br> **Rate** | **Value at**<br>**Trade Date** | **Value at**<br> **April 30,**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025**  | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** |
| BRL | 668 | 01/04/27 | 6.325%(T) | 1 Day BROIS(2)(T)/ 0.053% | $&nbsp;&nbsp;&nbsp;&nbsp;— | $(41199) | $(41199) |
| BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056 | 01/04/27 | 6.529%(T) | 1 Day BROIS(2)(T)/ 0.053% |  | (62159) | (62159) |
| BRL | 2210 | 01/04/27 | 9.775%(T) | 1 Day BROIS(2)(T)/ 0.053% |  | (34522) | (34522) |
| BRL | 413 | 01/04/27 | 11.680%(T) | 1 Day BROIS(2)(T)/ 0.053% | 176 | (5302) | (5478) |
| BRL | 1688 | 01/04/27 | 11.755%(T) | 1 Day BROIS(2)(T)/ 0.053% |  | (17009) | (17009) |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

#### Interest rate swap agreements outstanding at April 30, 2025 (continued):

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional**<br>**Amount**<br>**(000)#** | **Notional**<br>**Amount**<br>**(000)#** | **Termination<br>Date** | **Fixed**<br> **Rate** | **Floating**<br> **Rate** | **Value at**<br> **Trade Date** | **Value at**<br> **April 30,**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025**  | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |
| BRL | 518 | 01/04/27 | 13.270%(T) | 1 Day BROIS(1)(T)/ 0.053% | $— | $(1779) | $(1779) |
| BRL | 4999 | 01/04/27 | 15.060%(T) | 1 Day BROIS(2)(T)/ 0.053% |  | 20068 | 20068 |
| BRL | 3127 | 01/03/28 | 13.572%(T) | 1 Day BROIS(2)(T)/ 0.053% |  | 1862 | 1862 |
| BRL | 1039 | 01/02/29 | 10.960%(T) | 1 Day BROIS(2)(T)/ 0.053% | (2606) | (17672) | (15066) |
| BRL | 2776 | 01/02/29 | 13.450%(T) | 1 Day BROIS(2)(T)/ 0.053% |  | (41) | (41) |
| BRL | 1260 | 01/02/29 | 13.482%(T) | 1 Day BROIS(2)(T)/ 0.053% |  | 221 | 221 |
| CLP | 25080 | 03/15/33 | 5.100%(S) | 1 Day CLOIS(2)(S)/ 5.000% | (491) | 488 | 979 |
| CNH | 3000 | 07/28/27 | 2.438%(Q) | 7 Day China Fixing Repo Rates(2)(Q)/ 1.950% |  | 9454 | 9454 |
| CNH | 2407 | 12/15/27 | 2.680%(Q) | 7 Day China Fixing Repo Rates(2)(Q)/ 1.950% | (1350) | 11344 | 12694 |
| CNH | 5630 | 04/24/28 | 2.811%(Q) | 7 Day China Fixing Repo Rates(2)(Q)/ 1.950% |  | 32362 | 32362 |
| COP | 6941027 | 06/18/27 | 8.020%(Q) | 1 Day COOIS(1)(Q)/ 8.953% | 239 | 1538 | 1299 |
| COP | 2058313 | 06/18/27 | 8.060%(Q) | 1 Day COOIS(1)(Q)/ 8.953% |  | 99 | 99 |
| COP | 236760 | 12/21/27 | 10.125%(Q) | 1 Day COOIS(1)(Q)/ 8.953% |  | (2737) | (2737) |
| COP | 1928350 | 03/20/29 | 7.210%(Q) | 1 Day COOIS(2)(Q)/ 8.953% |  | (15968) | (15968) |
| COP | 211800 | 11/09/31 | 6.650%(Q) | 1 Day COOIS(2)(Q)/ 8.953% |  | (4844) | (4844) |
| CZK | 19848 | 06/21/25 | 5.919%(A) | 6 Month PRIBOR(1)(S)/ 3.520% | 150 | (36681) | (36831) |
| CZK | 11310 | 06/18/30 | 3.218%(A) | 6 Month PRIBOR(2)(S)/ 3.520% |  | (912) | (912) |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 77

------

PGIM Emerging Markets Debt Local Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Notional<br>Amount<br>(000)# | Notional<br>Amount<br>(000)# | **Termination<br>Date** | **Fixed**<br> **Rate** | **Floating**<br> **Rate** | **Value at<br>Trade Date** | **Value at**<br> **April 30,**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025**  | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |
| CZK | 6507 | 06/15/31 | 1.730%(A) | 6 Month PRIBOR(2)(S)/ 3.520% | $— | $(26184) | $(26184) |
| CZK | 5913 | 09/18/34 | 3.955%(A) | 6 Month PRIBOR(2)(S)/ 3.520% | 2191 | 15398 | 13207 |
| HUF | 351566 | 03/20/26 | 6.195%(A) | 6 Month BUBOR(1)(S)/ 6.500% | (6224) | 3440 | 9664 |
| HUF | 150000 | 03/17/27 | 6.250%(A) | 6 Month BUBOR(1)(S)/ 6.500% |  | (2079) | (2079) |
| INR | 70385 | 12/18/29 | 5.993%(S) | 1 Day MIBOR(2)(S)/ 6.000% | (1317) | 11646 | 12963 |
| INR | 35320 | 06/18/30 | 5.613%(S) | 1 Day MIBOR(2)(S)/ 6.000% |  | 165 | 165 |
| INR | 84486 | 06/18/30 | 5.966%(S) | 1 Day MIBOR(2)(S)/ 6.000% | (20) | 15242 | 15262 |
| INR | 177878 | 06/18/30 | 6.075%(S) | 1 Day MIBOR(2)(S)/ 6.000% |  | 41745 | 41745 |
| KRW | 496507 | 09/21/27 | 3.087%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% | (435) | 7167 | 7602 |
| KRW | 180000 | 12/21/27 | 4.197%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% | 4425 | 6655 | 2230 |
| KRW | 904550 | 03/15/28 | 2.965%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% | (3073) | 13450 | 16523 |
| KRW | 107825 | 12/20/28 | 3.830%(Q) | 3 Month KWCDC(1)(Q)/ 2.710% | (3058) | (4361) | (1303) |
| KRW | 500440 | 06/19/29 | 3.390%(Q) | 3 Month KWCDC(1)(Q)/ 2.710% | (12418) | (16355) | (3937) |
| KRW | 447383 | 12/18/29 | 2.886%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% | 3726 | 8933 | 5207 |
| KRW | 1010441 | 06/18/30 | 2.423%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% |  | 6124 | 6124 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Notional<br>Amount<br>(000)# | Notional<br>Amount<br>(000)# | **Termination<br>Date** | **Fixed**<br> **Rate** | **Floating**<br> **Rate** | **Value at<br>Trade Date** | **Value at**<br> **April 30,**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025**  | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |
| KRW | 44232 | 06/18/30 | 2.645%(Q) | 3 Month KWCDC(2)(Q)/ 2.710% | $76 | $597 | $521 |
| MXN | 9102 | 03/13/30 | 8.860%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 9.341% | 450 | 22422 | 21972 |
| MXN | 30860 | 06/12/30 | 8.152%(M) | 28 Day Mexican Interbank Rate(2)(M)/ 9.341% | 6668 | 31250 | 24582 |
| PLN | 6921 | 06/21/25 | 6.021%(A) | 6 Month WIBOR(1)(S)/ 5.100% | 4254 | (56960) | (61214) |
| PLN | 2730 | 09/08/25 | 0.638%(A) | 6 Month WIBOR(2)(S)/ 5.100% | (332) | (16323) | (15991) |
| PLN | 1670 | 08/02/27 | 5.680%(A) | 6 Month WIBOR(2)(S)/ 5.100% |  | 27623 | 27623 |
| PLN | 1190 | 09/21/27 | 6.632%(A) | 6 Month WIBOR(1)(S)/ 5.100% | (2697) | (28617) | (25920) |
| PLN | 1434 | 10/06/27 | 6.826%(A) | 6 Month WIBOR(2)(S)/ 5.100% |  | 36932 | 36932 |
| PLN | 117 | 10/25/27 | 7.900%(A) | 6 Month WIBOR(1)(S)/ 5.100% | (3383) | (4059) | (676) |
| PLN | 2116 | 12/21/27 | 6.845%(A) | 6 Month WIBOR(1)(S)/ 5.100% | (32911) | (41726) | (8815) |
| PLN | 2250 | 06/18/30 | 3.963%(A) | 6 Month WIBOR(2)(S)/ 5.100% |  | 1707 | 1707 |
| PLN | 271 | 05/10/32 | 6.410%(A) | 6 Month WIBOR(1)(S)/ 5.100% |  | (12601) | (12601) |
| THB | 79390 | 05/06/27 | 1.180%(Q) | 1 Day THOR(2)(Q)/ 1.741% |  | (782) | (782) |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28333 | 06/18/30 | 1.358%(Q) | 1 Day THOR(2)(Q)/ 1.741% |  | (1949) | (1949) |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 79

------

PGIM Emerging Markets Debt Local Currency Fund

**Schedule of Investment** **s** (unaudited) (continued)

as of April 30, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Notional<br>Amount<br>(000)# | Notional<br>Amount<br>(000)# | Termination<br>Date | Fixed<br>Rate | **Floating**<br> **Rate** | **Value at<br>Trade Date** | **Value at**<br> **April 30,**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025**  | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |
| ZAR | 18880 | 06/21/25 | 8.250%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | $12729 | $(1809) | $(14538) |
| ZAR | 5789 | 08/21/25 | 4.978%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | (2044) | (3811) | (1767) |
| ZAR | 2808 | 03/16/27 | 6.960%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | 5758 | 393 | (5365) |
| ZAR | 1744 | 09/21/27 | 7.490%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | (2039) | 834 | 2873 |
| ZAR | 2634 | 06/21/28 | 8.455%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | (286) | (5310) | (5024) |
| ZAR | 646 | 06/19/29 | 8.930%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | 1493 | 2057 | 564 |
| ZAR | 2510 | 06/19/29 | 8.933%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% |  | (8003) | (8003) |
| ZAR | 14064 | 12/18/29 | 7.975%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | (3962) | (17042) | (13080) |
| ZAR | 686 | 03/19/30 | 7.765%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% |  | 458 | 458 |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10847 | 03/19/30 | 7.981%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | 2015 | 12555 | 10540 |
| ZAR | 7743 | 03/19/30 | 8.060%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% |  | (10350) | (10350) |
| ZAR | 7119 | 04/13/31 | 7.530%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | (4951) | (3757) | 1194 |
| ZAR | 6680 | 07/13/31 | 7.415%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | 93 | 6871 | 6778 |
| ZAR | 6610 | 09/27/31 | 7.493%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | 1662 | 6596 | 4934 |
| ZAR | 4635 | 01/04/32 | 7.595%(Q) | 3 Month JIBAR(1)(Q)/ 7.542% | 5064 | 4345 | (719) |
| ZAR | 2682 | 11/10/32 | 9.160%(Q) | 3 Month JIBAR(2)(Q)/ 7.542% | (11) | 8903 | 8914 |
|  |  |  |  |  | $(32439) | $(131959) | $(99520) |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional**<br>**Amount** <br>**(000)#** | **Notional** <br>**Amount** <br>**(000)#** | **Termination<br>Date** | **Fixed** <br>**Rate** | **Floating** <br> **Rate** | **Fair**<br>**Value** | **Upfront<br>Premiums<br>Paid(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)** | **Counterparty** |
| **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | **OTC Interest Rate Swap Agreements:** | | | | |
| MYR | 2300 | 07/21/27 | 3.640%(Q) | 3 Month KLIBOR(2)(Q)/ 3.650% | $4607 | $(4) | $4611 | GSI |
| MYR | 3000 | 07/29/27 | 3.500%(Q) | 3 Month KLIBOR(2)(Q)/ 3.650% | 3962 | (5) | 3967 | JPM |
| MYR | 1165 | 06/21/28 | 3.442%(Q) | 3 Month KLIBOR(2)(Q)/ 3.650% | 1584 |  | 1584 | BOA |
| MYR | 1170 | 03/19/30 | 3.515%(Q) | 3 Month KLIBOR(2)(Q)/ 3.650% | 2811 |  | 2811 | CITI |
|  |  |  |  |  | $12964 | $(9) | $12973 |  |

---

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Premiums Paid** | **Premiums Received** | **Unrealized**<br> **Appreciation** | **Unrealized**<br> **Depreciation** |
|  OTC Swap Agreements | $— | $(17604) | $15950 | $(3772) |

---

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

---

| | | |
|:---|:---|:---|
| **Broker** | **Cash and/or Foreign Currency** | **Securities Market Value** |
|  CITI | $167924 | $693316 |
|  JPS |  | 201828 |
|  **Total** | $167924 | $895144 |

---

#### 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.

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 81

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

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 April 30, 2025 in valuing such portfolio securities:

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities** |  |  |  |
|  **Assets** |  |  |  |
|  **Long-Term Investments** |  |  |  |
|  Corporate Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Supranational Bank | $— | $499627 | $— |
|  Sovereign Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil |  | 1750261 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chile |  | 363200 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China |  | 1716074 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombia |  | 2044090 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Czech Republic |  | 1337935 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dominican Republic |  | 241217 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guatemala |  | 193200 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hungary |  | 692338 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India |  | 1490819 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indonesia |  | 4047338 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ivory Coast |  | 147338 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Malaysia |  | 1756315 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico |  | 2393191 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peru |  | 1096576 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philippines |  | 98608 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Poland |  | 1753638 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Romania |  | 1538382 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Serbia |  | 354704 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Africa |  | 5122089 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thailand |  | 2908116 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkey |  | 434251 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Uruguay |  | 43328 |  |
|  U.S. Treasury Obligation |  | 201828 |  |
|  Common Stock |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jamaica |  | 36694 |  |
|  **Short-Term Investments** |  |  |  |
|  Affiliated Mutual Fund | 1800711 |  |  |
|  U.S. Treasury Obligation |  | 693316 |  |
|  Options Purchased |  | 49888 |  |
|  **Total** | $**1800711** | $**33004361** | $**—** |
|  **Liabilities** |  |  |  |
|  Options Written | $**—** | $**(108269)** | $**—** |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Other Financial Instruments\*** |  |  |  |
|  **Assets** |  |  |  |
|  Futures Contracts | $30385 | $— | $— |
|  OTC Forward Foreign Currency Exchange Contracts |  | 727815 |  |
|  OTC Cross Currency Exchange Contracts |  | 1083 |  |
|  Centrally Cleared Credit Default Swap Agreement |  | 4898 |  |
|  OTC Credit Default Swap Agreement |  |  | 1720 |
|  Centrally Cleared Interest Rate Swap Agreements |  | 359322 |  |
|  OTC Interest Rate Swap Agreements |  | 12964 |  |
|  **Total** | $**30385** | $**1106082** | $**1720** |
|  **Liabilities** |  |  |  |
|  Futures Contracts | $(13419) | $— | $— |
|  OTC Forward Foreign Currency Exchange Contracts |  | (496233) |  |
|  OTC Cross Currency Exchange Contracts |  | (38) |  |
|  Centrally Cleared Credit Default Swap Agreements |  | (4889) |  |
|  OTC Credit Default Swap Agreements |  | (20110) |  |
|  Centrally Cleared Interest Rate Swap Agreements |  | (458842) |  |
|  **Total** | $**(13419)** | $**(980112)** | $**—** |

---

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

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

---

| | |
|:---|:---|
|  Sovereign Bonds | 87.8% |
|  Affiliated Mutual Fund | 5.0 |
|  U.S. Treasury Obligations | 2.5 |
|  Multi-National | 1.4 |
|  Options Purchased | 0.2 |
|  Wireless Telecommunication Services | 0.1 |
|  | 97.0 |
|  Options Written | (0.3) |
|  Other assets in excess of liabilities | 3.3 |
|  | 100.0% |

---

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

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 83

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

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

Fair values of derivative instruments as of April 30, 2025 as presented in the Statement of Assets and Liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| <br>**Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value** | **Statement of**<br> **Assets and**<br> **Liabilities Location** | **Fair**<br>**Value** | **Statement of**<br> **Assets and**<br> **Liabilities Location** | **Fair**<br>**Value** |
|  Credit contracts | Due from/to broker-variation margin swaps | $4898 \* | Due from/to broker-variation margin swaps | $4889 \* |
|  Credit contracts |  |  | Premiums received for OTC swap agreements | 17595 |
|  Credit contracts | Unrealized appreciation on OTC swap agreements | 2977 | Unrealized depreciation on OTC swap agreements | 3772 |
|  Foreign exchange contracts | Unaffiliated investments | 19938 | Options written outstanding, at value | 101921 |
|  Foreign exchange contracts | Unrealized appreciation on OTC cross currency exchange contracts | 1083 | Unrealized depreciation on OTC cross currency exchange contracts | 38 |
|  Foreign exchange contracts | Unrealized appreciation on OTC forward foreign currency exchange contracts | 727815 | Unrealized depreciation on OTC forward foreign currency exchange contracts | 496233 |
|  Interest rate contracts | Due from/to broker-variation margin futures | 30385 \* | Due from/to broker-variation margin futures | 13419 \* |
|  Interest rate contracts | Due from/to broker-variation margin swaps | 359322 \* | Due from/to broker-variation margin swaps | 458842 \* |
|  Interest rate contracts |  |  | Premiums received for OTC swap agreements | 9 |
|  Interest rate contracts | Unaffiliated investments | 29950 | Options written outstanding, at value | 6348 |
|  Interest rate contracts | Unrealized appreciation on OTC swap agreements | 12973 |  |  |
|  |  | $1189341 |  | $1103066 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

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

The effects of derivative instruments on the Statement of Operations for the six months ended April 30, 2025 are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** | **Amount of Realized Gain (Loss) on Derivatives Recognized in Income** |
| **Derivatives not accounted for as hedging**<br> **instruments, carried at fair value** | **Options**<br> **Purchased(1)** | **Options**<br>**Written** | **Futures** | **Forward**<br> **& Cross**<br> **Currency**<br> **Exchange**<br> **Contracts** | **Swaps** |
|  Credit contracts | $— | $— | $— | $— | $33487 |
|  Foreign exchange contracts | (40221) | 188200 |  | (88533) |  |
|  Interest rate contracts |  | 6237 | 32674 |  | (615587) |
|  **Total** | $(40221) | $194437 | $32674 | $(88533) | $(582100) |

---

(1) Included in net realized gain (loss) on investment transactions in the Statement of Operations.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** | **Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income** |
| **Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value** | **Options**<br> **Purchased(2)** | **Options**<br> **Written** | **Futures** | **Forward**<br> **& Cross**<br> **Currency**<br> **Exchange**<br> **Contracts** | **Swaps** |
|  Credit contracts | $— | $— | $— | $— | $(22000) |
|  Foreign exchange contracts | 20352 | (15174) |  | 463445 |  |
|  Interest rate contracts | 12872 | 20309 | 1120 |  | 649719 |
|  **Total** | $33224 | $5135 | $1120 | $463445 | $627719 |

---

(2) Included in net change in unrealized appreciation (depreciation) on investments in the Statement of Operations.

For the six months ended April 30, 2025, the Fund's average volume of derivative activities is as follows:

---

| | |
|:---|:---|
| **Derivative Contract Type**<br>| **Average Volume of Derivative Activities\***  |
| &nbsp;&nbsp; Options Purchased (1) | $22188 |
| &nbsp;&nbsp; Options Written (2) | 9487258 |
| &nbsp;&nbsp; Futures Contracts - Long Positions (2) | 1247615 |
| &nbsp;&nbsp; Futures Contracts - Short Positions (2) | 1768887 |
| &nbsp;&nbsp; Forward Foreign Currency Exchange Contracts - Purchased (3) | 34566922 |
| &nbsp;&nbsp; Forward Foreign Currency Exchange Contracts - Sold (3) | 30283422 |
| &nbsp;&nbsp; Cross Currency Exchange Contracts (4) | 180535 |
| &nbsp;&nbsp; Interest Rate Swap Agreements (2) | 36331795 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 85

------

PGIM Emerging Markets Debt Local Currency Fund

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

as of April 30, 2025

---

| | |
|:---|:---|
| **Derivative Contract Type** | **Average Volume of Derivative Activities\*** |
| &nbsp;&nbsp; Credit Default Swap Agreements - Sell Protection (2) | $4518340 |

---

\* Average volume is based on average quarter end balances for the six months ended April 30, 2025.

(1) Cost.

(2) Notional Amount in USD.

(3) Value at Settlement Date.

(4) Value at Trade Date.

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Gross Amounts of** <br>**Recognized**<br>**Assets(1)** | **Gross Amounts of** <br>**Recognized**<br>**Liabilities(1)** | **Net Amounts of**<br> **Recognized**<br> **Assets/(Liabilities)**  | **Collateral**<br> **Pledged/(Received)(2)** | **Net Amount** |
|  BARC | $37165 | $(69193) | $(32028) | $— | $(32028) |
|  BNP | 11712 | (14225) | (2513) |  | (2513) |
|  BNY | 43042 | (26485) | 16557 |  | 16557 |
|  BOA | 9285 | (42369) | (33084) |  | (33084) |
|  CA |  | (140) | (140) |  | (140) |
|  CITI | 309870 | (117732) | 192138 |  | 192138 |
|  DB | 2805 | (20027) | (17222) |  | (17222) |
|  GSI | 38538 | (7975) | 30563 |  | 30563 |
|  HSBC | 74388 | (119510) | (45122) |  | (45122) |
|  JPM | 93628 | (36777) | 56851 |  | 56851 |
|  MSI | 123925 | (136258) | (12333) |  | (12333) |
|  SCB | 25987 | (4607) | 21380 |  | 21380 |
|  SSB | 21708 | (25696) | (3988) |  | (3988) |
|  TD | 2482 | (4922) | (2440) |  | (2440) |
|  UAG | 201 |  | 201 |  | 201 |
|  | $794736 | $(625916) | $168820 | $— | $168820 |

---

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

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

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

Statement of Assets & Liabilities (unaudited)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** |  |
| &nbsp;&nbsp; Investments at value: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $33,651,418) | $33004361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated investments (cost $1,800,711) | 1800711 |
| &nbsp;&nbsp; Foreign currency, at value (cost $187,435) | 188215 |
| &nbsp;&nbsp; Unrealized appreciation on OTC forward foreign currency exchange contracts | 727815 |
| &nbsp;&nbsp; Dividends and interest receivable | 642714 |
| &nbsp;&nbsp; Deposit with broker for centrally cleared/exchange-traded derivatives | 167924 |
| &nbsp;&nbsp; Tax reclaim receivable | 70856 |
| &nbsp;&nbsp; Receivable for investments sold | 38114 |
| &nbsp;&nbsp; Receivable for Fund shares sold | 16408 |
| &nbsp;&nbsp; Unrealized appreciation on OTC swap agreements | 15950 |
| &nbsp;&nbsp; Due from broker—variation margin swaps | 12824 |
| &nbsp;&nbsp; Due from Manager | 8595 |
| &nbsp;&nbsp; Due from broker—variation margin futures | 5139 |
| &nbsp;&nbsp; Unrealized appreciation on OTC cross currency exchange contracts | 1083 |
| &nbsp;&nbsp; Prepaid expenses | 531 |
| &nbsp;&nbsp; **Total Assets** | 36701240 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Unrealized depreciation on OTC forward foreign currency exchange contracts | 496233 |
| &nbsp;&nbsp; Options written outstanding, at value (premiums received $109,277) | 108269 |
| &nbsp;&nbsp; Payable for Fund shares purchased | 77521 |
| &nbsp;&nbsp; Audit fee payable | 28200 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 27168 |
| &nbsp;&nbsp; Premiums received for OTC swap agreements | 17604 |
| &nbsp;&nbsp; Custodian and accounting fees payable | 15828 |
| &nbsp;&nbsp; Foreign capital gains tax liability accrued | 12421 |
| &nbsp;&nbsp; Dividends payable | 8956 |
| &nbsp;&nbsp; Payable for investments purchased | 7096 |
| &nbsp;&nbsp; Unrealized depreciation on OTC swap agreements | 3772 |
| &nbsp;&nbsp; Directors' fees payable | 870 |
| &nbsp;&nbsp; Affiliated transfer agent fee payable | 623 |
| &nbsp;&nbsp; Distribution fee payable | 443 |
| &nbsp;&nbsp; Unrealized depreciation on OTC cross currency exchange contracts | 38 |
| &nbsp;&nbsp; **Total Liabilities** | 805042 |
| &nbsp;&nbsp; **Net Assets** | $35896198 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 52145239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (16249118) |
| &nbsp;&nbsp; **Net assets, April 30, 2025** | $35896198 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 87

------

PGIM Emerging Markets Debt Local Currency Fund

**Statement of Assets & Liabilities** (unaudited) (continued)

as of April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Class A** |  |
| &nbsp;&nbsp; Net asset value and redemption price per share,<br>($2,046,772 ÷ 440,121 shares of common stock issued and outstanding) | $4.65 |
| &nbsp;&nbsp; Maximum sales charge (3.25% of offering price) | 0.16 |
| &nbsp;&nbsp; Maximum offering price to public | $4.81 |
| &nbsp;&nbsp; **Class C** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br>($38,062 ÷ 8,125 shares of common stock issued and outstanding) | $4.68 |
| &nbsp;&nbsp; **Class Z** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br>($29,075,457 ÷ 6,194,811 shares of common stock issued and outstanding) | $4.69 |
| &nbsp;&nbsp; **Class R6** |  |
| &nbsp;&nbsp; Net asset value, offering price and redemption price per share,<br>($4,735,907 ÷ 1,009,827 shares of common stock issued and outstanding) | $4.69 |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

**Statement of Operations** (unaudited)

Six Months Ended April 30, 2025

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** |  |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Interest income (net of $70,961 foreign withholding tax) | $1502094 |
| &nbsp;&nbsp; Affiliated dividend income | 31298 |
| &nbsp;&nbsp; **Total income** | 1533392 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 156020 |
| &nbsp;&nbsp; Distribution fee(a) | 2747 |
| &nbsp;&nbsp; Transfer agent's fees and expenses (including affiliated expense of $8,580)(a) | 33558 |
| &nbsp;&nbsp; Custodian and accounting fees | 32573 |
| &nbsp;&nbsp; Audit fee | 28700 |
| &nbsp;&nbsp; Registration fees(a) | 18847 |
| &nbsp;&nbsp; Professional fees | 18597 |
| &nbsp;&nbsp; Shareholders' reports | 10817 |
| &nbsp;&nbsp; Directors' fees | 5249 |
| &nbsp;&nbsp; Commitment fees | 3166 |
| &nbsp;&nbsp; Miscellaneous | 13982 |
| &nbsp;&nbsp; **Total expenses** | 324256 |
| &nbsp;&nbsp; Less: Fee waiver and/or expense reimbursement(a) | (148216) |
| &nbsp;&nbsp; **Net expenses** | 176040 |
| &nbsp;&nbsp; Net investment income (loss) | 1357352 |
| &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 (net of foreign capital gains taxes $(28011)) | (196121) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures transactions | 32674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward and cross currency contract transactions | (88533) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options written transactions | 194437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreement transactions | (582100) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | (1077771) |
|  | (1717414) |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments (net of change in foreign capital gains taxes $(8171)) | 1098992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | 1120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward and cross currency contracts | 463445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options written | 5135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreements | 627719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 12024 |
|  | 2208435 |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | 491021 |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $1848373 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 89

------

PGIM Emerging Markets Debt Local Currency Fund

**Statement of Operations** (unaudited) (continued)

Six Months Ended April 30, 2025

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Class A** | **Class C** | **Class Z** | **Class R6** |
|  Distribution fee | 2565 | 182 |  |  |
|  Transfer agent's fees and expenses | 2143 | 360 | 30923 | 132 |
|  Registration fees | 4910 | 2849 | 6949 | 4139 |
|  Fee waiver and/or expense reimbursement | (9620) | (3253) | (120040) | (15303) |

---

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

**Statements of Changes in Net Assets** (unaudited)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended<br>April 30, 2025** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Year Ended** <br> **October 31, 2024** |
| &nbsp;&nbsp;&nbsp;&nbsp; **Increase (Decrease) in Net Assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $1357352 | $3331805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | (1717414) | (2587233) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | 2208435 | 3513268 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 1848373 | 4257840 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions from distributable earnings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A | (55249) | (109307) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C | (844) | (1994) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class Z | (1193456) | (2390898) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R6 | (134363) | (249282) |
|  | (1383912) | (2751481) |
| &nbsp;&nbsp;&nbsp;&nbsp; Tax return of capital distributions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Class A |  | (50467) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class C |  | (921) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class Z |  | (1103877) |
| &nbsp;&nbsp;&nbsp;&nbsp; Class R6 |  | (115094) |
|  |  | (1270359) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Fund share transactions (Net of share conversions)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net proceeds from shares sold | 3789604 | 17917041 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net asset value of shares issued in reinvestment of dividends and distributions | 1253215 | 3262518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost of shares purchased | (22240367) | (28419557) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in net assets from Fund share transactions | (17197548) | (7239998) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total increase (decrease) | (16733087) | (7003998) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning of period | 52629285 | 59633283 |
| &nbsp;&nbsp;&nbsp;&nbsp; End of period | $35896198 | $52629285 |

---

See Notes to Financial Statements.

PGIM Emerging Markets Debt Local Currency Fund 91

------

PGIM Emerging Markets Debt Local Currency Fund

Financial Highlights (unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class A Shares** |  |  |  |  |  |  |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $4.56 | $4.57 | $4.27 | $5.45 | $5.57 | $6.07 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.12 | 0.25 | 0.23 <sup>(b)</sup> | 0.20 | 0.22 | 0.24 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.09 | 0.04 | 0.31 <sup>(c)</sup> | (1.17) | (0.09) | (0.47) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.21 | 0.29 | 0.54 | (0.97) | 0.13 | (0.23) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income\* | (0.12) | (0.20) | (0.24) | (0.04) | (0.25) |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  | (0.10) |  | (0.17) |  | (0.27) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.12) | (0.30) | (0.24) | (0.21) | (0.25) | (0.27) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $4.65 | $4.56 | $4.57 | $4.27 | $5.45 | $5.57 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 4.72% | 6.45% | 12.66% | (18.18)% | 2.19% | (3.75)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $2047 | $2219 | $2391 | $2151 | $3489 | $3853 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $2069 | $2450 | $2498 | $2762 | $3950 | $3518 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.13 %<sup>(f)</sup> | 1.13% | 1.14 %<sup>(g)</sup> | 1.14 %<sup>(g)</sup> | 1.13% | 1.13% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 2.07 %<sup>(f)</sup> | 1.89% | 2.03 %<sup>(g)</sup> | 1.90 %<sup>(g)</sup> | 1.67% | 2.04% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 5.27 %<sup>(f)</sup> | 5.41% | 4.97% | 4.13% | 3.75% | 4.24% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(h)</sup> | 23% | 43% | 19% | 26% | 35% | 64% |

---

\* Dividends from net investment income may include other items that are ordinary income for tax purposes.

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

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

(c) The per share amount of realized and unrealized gain (loss) on investments does not directly correlate to the amounts reported in the Statement of Operations due to the timing of portfolio share transactions in relation to fluctuating market values.

(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 period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

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

(f) Annualized.

(g) Includes certain non-recurring expenses of 0.01% for the year ended October 31, 2023 and interest expense on borrowings from the Syndicated Credit Agreement of 0.01%, for the year ended October 31, 2022 which are being excluded from the Fund's contractual waiver, if applicable.

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

Financial Highlights (unaudited) (continued)

(h) 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 Emerging Markets Debt Local Currency Fund 93

------

PGIM Emerging Markets Debt Local Currency Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class C Shares** |  |  |  |  |  |  |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $4.60 | $4.60 | $4.30 | $5.49 | $5.61 | $6.11 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.10 | 0.22 | 0.20 <sup>(b)</sup> | 0.17 | 0.18 | 0.20 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.08 | 0.05 | 0.31 <sup>(c)</sup> | (1.19) | (0.09) | (0.47) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.18 | 0.27 | 0.51 | (1.02) | 0.09 | (0.27) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income\* | (0.10) | (0.17) | (0.21) |  | (0.21) |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  | (0.10) |  | (0.17) |  | (0.23) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.10) | (0.27) | (0.21) | (0.17) | (0.21) | (0.23) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $4.68 | $4.60 | $4.60 | $4.30 | $5.49 | $5.61 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 4.10% | 5.88% | 11.76% | (18.82)% | 1.44% | (4.41)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $38 | $37 | $62 | $126 | $190 | $466 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $37 | $49 | $102 | $144 | $331 | $484 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 1.88 %<sup>(f)</sup> | 1.89 %<sup>(g)</sup> | 1.88% | 1.89 %<sup>(g)</sup> | 1.88% | 1.88% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 19.73 %<sup>(f)</sup> | 15.28% | 8.97% | 7.40 %<sup>(g)</sup> | 4.60% | 5.82% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 4.52 %<sup>(f)</sup> | 4.65% | 4.19% | 3.35% | 3.00% | 3.54% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(h)</sup> | 23% | 43% | 19% | 26% | 35% | 64% |

---

\* Dividends from net investment income may include other items that are ordinary income for tax purposes.

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

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

(c) The per share amount of realized and unrealized gain (loss) on investments does not directly correlate to the amounts reported in the Statement of Operations due to the timing of portfolio share transactions in relation to fluctuating market values.

(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 period reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP. Total returns for periods less than one full year are not annualized.

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

(f) Annualized.

(g) Includes interest expense on borrowings from the Syndicated Credit Agreement and certain non-recurring expenses of 0.01% for the year ended October 31, 2024 and interest expense on borrowings from the Syndicated Credit Agreement of 0.01%, for the year ended October 31, 2022 which are being excluded from the Fund's contractual waiver, if applicable.

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

Financial Highlights (unaudited) (continued)

(h) 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 Emerging Markets Debt Local Currency Fund 95

------

PGIM Emerging Markets Debt Local Currency Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class Z Shares** |  |  |  |  |  |  |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $4.60 | $4.61 | $4.31 | $5.50 | $5.62 | $6.13 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.13 | 0.28 | 0.26 <sup>(b)</sup> | 0.22 | 0.24 | 0.27 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.09 | 0.04 | 0.30 <sup>(c)</sup> | (1.18) | (0.08) | (0.48) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.22 | 0.32 | 0.56 | (0.96) | 0.16 | (0.21) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income\* | (0.13) | (0.23) | (0.26) | (0.06) | (0.28) |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  | (0.10) |  | (0.17) |  | (0.30) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.13) | (0.33) | (0.26) | (0.23) | (0.28) | (0.30) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $4.69 | $4.60 | $4.61 | $4.31 | $5.50 | $5.62 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 4.92% | 6.88% | 13.05% | (17.83)% | 2.63% | (3.45)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $29075 | $45167 | $52178 | $23229 | $49067 | $57392 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $41678 | $49456 | $42236 | $39563 | $59794 | $56989 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.72 %<sup>(f)</sup> | 0.72% | 0.73 %<sup>(g)</sup> | 0.73 %<sup>(g)</sup> | 0.72% | 0.74% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.30 %<sup>(f)</sup> | 1.17% | 1.26 %<sup>(g)</sup> | 1.32 %<sup>(g)</sup> | 1.16% | 1.27% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 5.66 %<sup>(f)</sup> | 5.84% | 5.40% | 4.49% | 4.16% | 4.72% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(h)</sup> | 23% | 43% | 19% | 26% | 35% | 64% |

---

\* Dividends from net investment income may include other items that are ordinary income for tax purposes.

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

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

(c) The per share amount of realized and unrealized gain (loss) on investments does not directly correlate to the amounts reported in the Statement of Operations due to the timing of portfolio share transactions in relation to fluctuating market values.

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

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

(f) Annualized.

(g) Includes certain non-recurring expenses of 0.01% for the year ended October 31, 2023 and interest expense on borrowings from the Syndicated Credit Agreement of 0.01%, for the year ended October 31, 2022 which are being excluded from the Fund's contractual waiver, if applicable.

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

Financial Highlights (unaudited) (continued)

(h) 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 Emerging Markets Debt Local Currency Fund 97

------

PGIM Emerging Markets Debt Local Currency Fund

Financial Highlights (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Class R6 Shares** |  |  |  |  |  |  |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** | <br> **Year Ended October 31,** |
|  | **Six Months<br> Ended<br> April 30,<br> 2025** | **2024** | **2023** | **2022** | **2021** | **2020** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $4.60 | $4.60 | $4.31 | $5.50 | $5.62 | $6.12 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.13 | 0.28 | 0.26 <sup>(b)</sup> | 0.23 | 0.25 | 0.27 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.09 | 0.05 | 0.30 <sup>(c)</sup> | (1.19) | (0.09) | (0.47) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.22 | 0.33 | 0.56 | (0.96) | 0.16 | (0.20) |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income\* | (0.13) | (0.23) | (0.27) | (0.06) | (0.28) |  |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions |  | (0.10) |  | (0.17) |  | (0.30) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.13) | (0.33) | (0.27) | (0.23) | (0.28) | (0.30) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $4.69 | $4.60 | $4.60 | $4.31 | $5.50 | $5.62 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(d)</sup>:** | 4.95% | 7.19% | 12.88% | (17.77)% | 2.70% | (3.24)% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $4736 | $5207 | $5002 | $1352 | $3237 | $50 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $4620 | $5243 | $2239 | $2001 | $1613 | $42 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(e)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement | 0.65 %<sup>(f)</sup> | 0.65% | 0.66 %<sup>(g)</sup> | 0.66 %<sup>(g)</sup> | 0.65% | 0.67% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement | 1.32 %<sup>(f)</sup> | 1.21% | 1.53 %<sup>(g)</sup> | 1.47 %<sup>(g)</sup> | 1.63% | 40.50% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 5.75 %<sup>(f)</sup> | 5.89% | 5.45% | 4.56% | 4.27% | 4.64% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(h)</sup> | 23% | 43% | 19% | 26% | 35% | 64% |

---

\* Dividends from net investment income may include other items that are ordinary income for tax purposes.

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

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

(c) The per share amount of realized and unrealized gain (loss) on investments does not directly correlate to the amounts reported in the Statement of Operations due to the timing of portfolio share transactions in relation to fluctuating market values.

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

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

(f) Annualized.

(g) Includes certain non-recurring expenses of 0.01% for the year ended October 31, 2023 and interest expense on borrowings from the Syndicated Credit Agreement of 0.01%, for the year ended October 31, 2022 which are being excluded from the Fund's contractual waiver, if applicable.

See Notes to Financial Statements.

------

PGIM Emerging Markets Debt Local Currency Fund

Financial Highlights (unaudited) (continued)

(h) 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 Emerging Markets Debt Local Currency Fund 99

------

Notes to Financial Statements (unaudited)

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

**1.** **Organization** 

Prudential World 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. These financial statements relate to the following series of the RIC: PGIM Emerging Markets Debt Hard Currency Fund and PGIM Emerging Markets Debt Local Currency Fund (each, a "Fund" and collectively, the "Funds"). PGIM Emerging Markets Debt Hard Currency Fund is classified as a diversified fund for purposes of the 1940 Act and PGIM Emerging Markets Debt Local Currency Fund is classified as a non-diversified fund for purposes of the 1940 Act.

The Funds have the following investment objectives:

---

| | |
|:---|:---|
| **Fund** | **Investment Objective(s)** |
| &nbsp;&nbsp; PGIM Emerging Markets Debt Hard Currency Fund<br> ("Emerging Markets Debt Hard Currency") | total return, through a combination of current income and capital appreciation |
| &nbsp;&nbsp; PGIM Emerging Markets Debt Local Currency Fund<br> ("Emerging Markets Debt Local Currency") | total return, through a combination of current income and capital appreciation |

---

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

The Funds follow 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 Funds in the preparation of their financial statements. The policies conform to U.S. generally accepted accounting principles ("GAAP"). The Funds consistently follow such policies in the preparation of their financial statements.

During the reporting period, the Funds 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 Funds' 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. PGIM Investments LLC ("PGIM Investments" or the "Manager") acts as each Fund's chief operating decision maker ("CODM"). The CODM has determined that each Fund has a single operating segment as the CODM monitors the operating results of each Fund as a whole and the Funds' long-term

------

strategic asset allocation is pre-determined in accordance with the terms of their respective prospectus, based on a defined investment strategy which is executed by the Funds' subadviser.

The CODM allocates resources and assesses performance based on the operating results of each 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 Funds hold 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 Funds' 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 Funds' valuation policies and procedures for security valuation and designated PGIM Investments as the "Valuation Designee," as defined by Rule 2a-5(b) under the 1940 Act, to perform the fair value determination relating to all Funds 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 Funds to utilize independent pricing vendor services, quotations from market makers, and alternative valuation methods when market quotations are either not readily available or not deemed representative of fair value. Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.

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

Various inputs determine how the Funds' 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.

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Notes to Financial Statements (unaudited) (continued)

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

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

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

Securities and other assets that cannot be priced according to the methods described above are valued based on policies and procedures approved by the Board. In the event that unobservable inputs are used when determining such valuations, the securities will be

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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 Funds 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 Funds are presented at the foreign exchange rates and market values at the close of the period, the Funds do 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 Funds do 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. Notwithstanding the above, the Fund does isolate the effect of fluctuations in foreign currency exchange rates when determining the gain (loss) upon the sale or maturity of foreign currency denominated debt obligations; such amounts are included in net realized gains (losses) on foreign currency transactions.

Additionally, 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 Funds' books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized currency gains (losses) arise from valuing foreign

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Notes to Financial Statements (unaudited) (continued)

currency denominated assets and liabilities (other than investments) at period end exchange rates.

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

*Options:* Certain Funds purchased and/or wrote options in order to hedge against adverse market movements or fluctuations in value caused by changes in prevailing interest rates, value of equities or foreign currency exchange rates with respect to securities or financial instruments which the Fund currently owns or intends to purchase. The Funds may also use options to gain additional market exposure. The Funds' principal reason for writing options is to realize, through receipt of premiums, a greater current return than would be realized on the underlying security alone. When the Fund purchases an option, it pays a premium and an amount equal to that premium is recorded as an asset. When the Fund writes an option, it receives a premium and an amount equal to that premium is recorded as a liability. The asset or liability is adjusted daily to reflect the current market value of the option. If an option expires unexercised, the Fund realizes a gain (loss) to the extent of the premium received or paid. If an option is exercised, the premium received or paid is recorded as an adjustment to the proceeds from the sale or the cost of the purchase in determining whether the Fund has realized a gain (loss). The difference between the premium and the amount received or paid at the closing of a purchase or sale transaction is also treated as a realized gain (loss). Gain (loss) on purchased options is included in net realized gain (loss) on investment transactions. Gain (loss) on written options is presented separately as net realized gain (loss) on options written transactions.

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The Fund, as writer of an option, may have no control over whether the underlying securities or financial instruments may be sold (called) or purchased (put). As a result, the Fund bears the market risk of an unfavorable change in the price of the security or financial instrument underlying the written option. The Fund, as purchaser of an OTC option, bears the risk of the potential inability of the counterparties to meet the terms of their contracts. With exchange-traded options contracts, there is minimal counterparty credit risk to the Fund since the exchanges' clearinghouse acts as counterparty to all exchange-traded options and guarantees the options contracts against default.

When the Fund writes an option on a swap, an amount equal to any premium received by the Fund is recorded as a liability and is subsequently adjusted to the current market value of the written option on the swap. If a call option on a swap is exercised, the Fund becomes obligated to pay a fixed interest rate (noted as the strike price) and receive a variable interest rate on a notional amount. If a put option on a swap is exercised, the Fund becomes obligated to pay a variable interest rate and receive a fixed interest rate (noted as the strike price) on a notional amount. Premiums received from writing options on swaps that expire or are exercised are treated as realized gains upon the expiration or exercise of such options on swaps. The risk associated with writing put and call options on swaps is that the Fund will be obligated to be party to a swap agreement if an option on a swap is exercised.

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

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

*Swap Agreements:* Certain Funds entered into certain types of swap agreements detailed in the disclosures below. A swap agreement is an agreement to exchange the return generated by one instrument for the return generated by another instrument. Swap agreements are negotiated in the OTC market and may be executed either directly with a counterparty

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Notes to Financial Statements (unaudited) (continued)

("OTC-traded") or through a central clearing facility, such as a registered exchange. Swap agreements are valued daily at current market value and any change in value is included in the net unrealized appreciation or depreciation on swap agreements. Centrally cleared swaps pay or receive an amount known as "variation margin", based on daily changes in the valuation of the swap contract. For OTC-traded, upfront premiums paid and received are shown as swap premiums paid and swap premiums received in the Statement of Assets and Liabilities. Risk of loss may exceed amounts recognized on the Statement of Assets and Liabilities. Swap agreements outstanding at period end, if any, are listed on the Schedule of Investments.

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

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

The Funds are subject to credit risk in the normal course of pursuing their investment objectives, and as such, has entered into CDS contracts to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer's default or the reference entity's credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be "short the credit" because the higher the contract value rises, the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases. The Funds' maximum risk of loss from counterparty credit risk for purchased CDS is the inability of the counterparty to honor the contract up to the notional value due to a credit event.

As a seller of protection on credit default swap agreements, the Fund generally receives an agreed upon payment from the buyer of protection throughout the term of the swap, provided no credit event occurs. As the seller, the Fund effectively increases its investment

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risk because, in addition to its total net assets, the Fund may be subject to investment exposure on the notional amount of the swap.

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

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

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

The RIC, on behalf of each Fund, is a party to International Swaps and Derivatives Association, Inc. ("ISDA") Master Agreements with certain counterparties that govern OTC derivative and foreign exchange contracts entered into from time to time. The Master Agreements may contain provisions regarding, among other things, the parties' general obligations, representations, agreements, collateral requirements, events of default and early termination. With respect to certain counterparties, in accordance with the terms of the Master Agreements, collateral posted to each Fund is held in a segregated account by each Fund's custodian and with respect to those amounts which can be sold or re-pledged, is

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Notes to Financial Statements (unaudited) (continued)

presented in the Schedule of Investments. Collateral pledged by each Fund is segregated by each Fund's custodian and identified in the Schedule of Investments. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to by each Fund and the applicable counterparty. Collateral requirements are determined based on each Fund's net position with each counterparty. Termination events applicable to each Fund may occur upon a decline in each Fund's net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty's long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of each Fund's counterparties to elect early termination could impact each Fund's future derivative activity.

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

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

*Securities Lending:* Certain Funds lend their 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

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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 Funds recognize income, net of any rebate and securities lending agent fees, for lending their 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 Funds also continue 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.

*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 Funds become aware of such dividends. Interest income, including amortization of premium and accretion of discount on debt securities, as required, is recorded on the accrual basis. Expenses are recorded on an accrual basis, which may require the use of certain estimates by management that may differ from actual expense amounts. Net investment income or loss (other than class specific expenses and waivers, which are allocated as noted below) and unrealized and realized gains (losses) are allocated daily to each class of shares based upon the relative proportion of adjusted net assets of each class at the beginning of the day. Class specific expenses and waivers, where applicable, are charged to the respective share classes. Such class specific expenses and waivers include distribution fees and distribution fee waivers, shareholder servicing fees, transfer agent's fees and expenses, registration fees and fee waivers and/or expense reimbursements, as applicable.

*Taxes:* It is each Fund's policy to continue to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute 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

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Notes to Financial Statements (unaudited) (continued)

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.

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

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\* Under certain circumstances, each 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 each Fund, has entered into management agreements with the Manager pursuant to which it has responsibility for all investment advisory services, including supervision of the subadvisers' performance of such services, and for rendering administrative services.

The Manager has entered into subadvisory agreements with PGIM, Inc., which provides subadvisory services to the Funds through its PGIM Fixed Income unit, and PGIM Limited (collectively the "subadviser"). The Manager pays for the services of subadvisers.

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

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| | | |
|:---|:---|:---|
| **Fund** | **Management Fee** | **Effective**<br> **Management Fee,**<br> **before any waiver**<br> **and/or expense**<br> **reimbursements** |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency | 0.650% on average daily net assets up to $1 billion;<br> 0.630% on average daily net assets from $1 billion to $3 billion;<br> 0.610% on average daily net assets from $3 billion to $5 billion;<br> 0.600% on average daily net assets from $5 billion to $10 billion;<br> 0.590% on average daily net assets over $10 billion. | 0.65% |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency | 0.650% on average daily net assets up to $1 billion;<br> 0.630% on average daily net assets from $1 billion to $3 billion;<br> 0.610% on average daily net assets from $3 billion to $5 billion;<br> 0.600% on average daily net assets from $5 billion to $10 billion;<br> 0.590% on average daily net assets over $10 billion. | 0.65 |

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The Manager has contractually agreed, through February 28, 2026, to limit total annual operating expenses after fee waivers and/or expense reimbursements. This contractual waiver excludes interest, brokerage, taxes (such as income and foreign withholding taxes, stamp duty and deferred tax expenses), acquired fund fees and expenses, extraordinary expenses, and certain other Fund expenses such as dividend and interest expense and broker charges on short sales.

Where applicable, the Manager agrees to waive management fees or shared operating expenses on any share class to the same extent that it waives such expenses on any other share class. In addition, total annual operating expenses for Class R6 shares will not exceed total annual operating expenses for Class Z shares. 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:

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| | |
|:---|:---|
| **Fund** | **Class Expense** <br> **Limitation** |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class A | 1.05% |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class C | 1.80 |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class Z | 0.75 |

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Notes to Financial Statements (unaudited) (continued)

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| | |
|:---|:---|
| **Fund** | **Class Expense** <br> **Limitation** |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class R6 | 0.65% |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class A | 1.13 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class C | 1.88 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class Z | 0.72 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class R6 | 0.65 |

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

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

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

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| | | |
|:---|:---|:---|
| **Fund** | **Gross Distribution Fee** | **Net Distribution Fee** |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class A | 0.25% | 0.25% |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class C | 1.00 | 1.00 |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class Z | N/A | N/A |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class R6 | N/A | N/A |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class A | 0.25 | 0.25 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class C | 1.00 | 1.00 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class Z | N/A | N/A |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class R6 | N/A | N/A |

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For the reporting period ended April 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:

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| | | |
|:---|:---|:---|
| **Fund** | **FESL** | **CDSC** |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class A | $254 | $— |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class C |  |  |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class A | 37 |  |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class C |  |  |

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

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

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

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

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

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

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

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| | | |
|:---|:---|:---|
| **Fund** | **Cost of**<br> **Purchases** | **Proceeds**<br> **from Sales**  |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency | $33128871 | $32094124 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency | 9683465 | 23638216 |

---

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

------

Notes to Financial Statements (unaudited) (continued)

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

#### Emerging Markets Debt Hard Currency:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Value,<br>Beginning<br>of<br>Period** | **Cost of<br>Purchases** | **Proceeds<br>from Sales** | **Change in<br>Unrealized<br>Gain<br>(Loss)** | **Realized<br>Gain<br>(Loss)** | **Value,<br>End of<br>Period** | **Shares,<br>End**<br> **of**<br> **Period** | **Income** |
| &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Funds:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Funds:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Funds:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Funds:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Funds:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Funds:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Funds:** |  |
| &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> |
| &nbsp;&nbsp; $2192388 | $30571487 | $27804296 | $— | $— | $4959579 | 4959579 | $61329 |
| &nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | &nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | &nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | &nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | &nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | &nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | &nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> | &nbsp;&nbsp; PGIM Institutional Money Market Fund (7-day effective yield 4.540%)<sup>(1)(b)(wb)</sup> |
| &nbsp;&nbsp; 3028567 | 20163997 | 19773775 | 151 | (971) | 3417969 | 3420362 | 4741<sup>(2)</sup> |
| &nbsp;&nbsp; $5220955 | $50735484 | $47578071 | $151 | $(971) | $8377548 |  | $66070 |
| <br> **Emerging Markets Debt Local Currency:** | <br> **Emerging Markets Debt Local Currency:** | <br> **Emerging Markets Debt Local Currency:** | <br> **Emerging Markets Debt Local Currency:** | <br> **Emerging Markets Debt Local Currency:** | <br> **Emerging Markets Debt Local Currency:** | <br> **Emerging Markets Debt Local Currency:** | <br> **Emerging Markets Debt Local Currency:** |
| **Value,<br>Beginning<br>of<br>Period** | **Cost of<br>Purchases** | **Proceeds<br>from Sales** | **Change in<br>Unrealized<br>Gain<br>(Loss)** | **Realized<br>Gain<br>(Loss)** | **Value,<br>End of<br>Period** | **Shares,<br>End**<br> **of**<br> **Period** | **Income** |
| &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Fund:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Fund:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Fund:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Fund:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Fund:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Fund:** | &nbsp;&nbsp; **Short-Term Investments - Affiliated Mutual Fund:** |  |
| &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> | &nbsp;&nbsp; PGIM Core Government Money Market Fund (7-day effective yield 4.478%)<sup>(1)(wb)</sup> |
| &nbsp;&nbsp; $1469009 | $14625877 | $14294175 | $— | $— | $1800711 | 1800711 | $31298 |

---

(1) The Fund did not have any capital gain distributions during the reporting period.

(2) 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.

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Tax Basis** | **Gross**<br> **Unrealized**<br> **Appreciation** | **Gross**<br> **Unrealized**<br> **Depreciation** | **Net** <br> **Unrealized** <br> **Depreciation**  |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency | $221451430 | $7457662 | $(12774738) | $(5317076) |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency | &nbsp;&nbsp;&nbsp;&nbsp;35388556 | 2279253 | &nbsp;&nbsp;&nbsp;&nbsp;(2826350) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(547097) |

---

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

------

For federal income tax purposes, the following Funds had an approximated capital loss carryforward as of October 31, 2024 which can be carried forward for an unlimited period. No capital gains distributions are expected to be paid to shareholders until net gains have been realized in excess of such losses.

---

| | | |
|:---|:---|:---|
| **Fund** | **Capital Loss<br>Carryforward** | **Capital Loss<br> Carryforward Utilized** |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency | $36935000 | $— |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency | 12681000 |  |

---

The Manager has analyzed the Funds' 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 Funds' financial statements for the current reporting period. Since tax authorities can examine previously filed tax returns, the Funds' U.S. federal and state tax returns for each of the four fiscal years up to the most recent fiscal year ended October 31, 2024 are subject to such review.

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

Each Fund offers Class A, Class C, Class Z and Class R6 shares. Class A shares are sold with a maximum front-end sales charge of 3.25%. Investors who purchase $500,000 or more of Class A shares and sell those shares within 12 months of purchase are subject to a CDSC of 1% on sales although these purchases are not subject to a front-end sales charge. The Class A CDSC is waived for certain retirement and/or benefit plans. A special exchange privilege is also available for shareholders who qualified to purchase Class A shares at net asset value. Class C shares are sold with a CDSC of 1% on sales made within 12 months of purchase. Class C shares will automatically convert to Class A shares on a monthly basis approximately eight years (ten years prior to January 22, 2021) after purchase. Class Z and Class R6 shares are not subject to any sales or redemption charges and are available exclusively for sale to a limited group of investors.

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

The RIC is authorized to issue 10,225,000,000 shares of common stock, $0.00001 par value per share. The authorized shares of the Funds are currently classified and designated as follows:

---

| | |
|:---|:---|
| **Fund** | **Number of Shares** |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class A | 100000000 |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class C | 100000000 |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class Z | 200000000 |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency - Class R6 | 200000000 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class A | 10000000 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class C | 50000000 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class Z | 250000000 |

---

------

Notes to Financial Statements (unaudited) (continued)

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

---

| | |
|:---|:---|
| **Fund** | **Number of Shares** |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class T | 190000000 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency - Class R6 | 50000000 |

---

The Emerging Markets Debt Local Currency Fund currently does not have any Class T shares outstanding.

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

---

| | | |
|:---|:---|:---|
| **Fund** | **Number of Shares** | **Percentage of**<br> **Outstanding Shares**  |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency–Class A | &nbsp;&nbsp;&nbsp;&nbsp;1579 | &nbsp;&nbsp;&nbsp;&nbsp;4.6% |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency–Class C | &nbsp;&nbsp;&nbsp;&nbsp;1494 | 100.0 |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency–Class R6 | 4619189 | 28.7 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency–Class R6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |

---

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

---

| | | |
|:---|:---|:---|
| **Fund** | **Number of Shareholders** | **Percentage of Outstanding Shares** |
| &nbsp;&nbsp; **Affiliated:** |  |  |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency | 1 | 14.5% |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency |  |  |
| &nbsp;&nbsp; **Unaffiliated:** |  |  |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency | 3 | 76.0 |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency | 4 | 93.6 |

---

Transactions in shares of common stock were as follows:

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 16038 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107037 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 911 | 6268 |
| &nbsp;&nbsp; Shares purchased | (161) | (1116) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 16788 | 112189 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 2669 | 18333 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 19457 | $130522 |

---

------

#### Emerging Markets Debt Hard Currency (cont'd.):

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 36446 | $248039 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 1013 | 7058 |
| &nbsp;&nbsp; Shares purchased | (50558) | (348830) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (13099) | (93733) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 13393 | 94916 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 294 | $1183 |
| &nbsp;&nbsp; **Class C** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 76 | $518 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 76 | $518 |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 85 | $591 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 85 | $591 |
| &nbsp;&nbsp; **Class Z** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 13605055 | $95862434 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 729364 | 5014639 |
| &nbsp;&nbsp; Shares purchased | (3153474) | (21696795) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 11180945 | 79180278 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 2031176 | 14417564 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (3581) | (24839) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 13208540 | $93573003 |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 2605312 | $18182870 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 85912 | 598971 |
| &nbsp;&nbsp; Shares purchased | (1726583) | (12087795) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 964641 | 6694046 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (80329) | (559635) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 884312 | $6134411 |
| &nbsp;&nbsp; **Class R6** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 718036 | $4949528 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 961518 | 6639746 |
| &nbsp;&nbsp; Shares purchased | (11506685) | (81593550) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (9827131) | (70004276) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 916 | 6506 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (2034033) | (14417564) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (11860248) | $(84415334) |

---

------

Notes to Financial Statements (unaudited) (continued)

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

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 5009121 | $34758997 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 2272830 | 15835692 |
| &nbsp;&nbsp; Shares purchased | (9939323) | (69633991) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (2657372) | (19039302) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 67008 | 464719 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (2590364) | $(18574583) |
| Emerging Markets Debt Local Currency: | Emerging Markets Debt Local Currency: | Emerging Markets Debt Local Currency: |
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Class A** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 4898 | $21863 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 12085 | 54584 |
| &nbsp;&nbsp; Shares purchased | (61034) | (275434) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (44051) | (198987) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 122 | 551 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (2273) | (10250) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (46202) | $(208686) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 99756 | $466738 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 33651 | 157944 |
| &nbsp;&nbsp; Shares purchased | (163195) | (756886) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (29788) | (132204) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 1268 | 6009 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (8830) | (41287) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (37350) | $(167482) |
| &nbsp;&nbsp; **Class C** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | (52565) | $(239130) |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 185 | 842 |
| &nbsp;&nbsp; Shares purchased | (23) | (104) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (52403) | (238392) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 52565 | 239130 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (121) | (551) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 41 | $187 |

---

------

#### Emerging Markets Debt Local Currency (cont'd.):

---

| | | |
|:---|:---|:---|
| **Share Class** | **Shares** | **Amount** |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 614 | $2909 |
| &nbsp;&nbsp; Shares purchased | (4743) | (22000) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (4129) | (19091) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (1260) | (6009) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (5389) | $(25100) |
| &nbsp;&nbsp; **Class Z** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 878416 | $4006411 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 233636 | 1063426 |
| &nbsp;&nbsp; Shares purchased | (4727005) | (21503480) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (3614953) | $(16433643) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 3618465 | $17251276 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 575747 | 2737302 |
| &nbsp;&nbsp; Shares purchased | (5720095) | (27294286) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (1525883) | (7305708) |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 8754 | 41287 |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (51) | (246) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (1517180) | $(7264667) |
| &nbsp;&nbsp; **Class R6** |  |  |
| &nbsp;&nbsp; **Six months ended April 30, 2025:** |  |  |
| &nbsp;&nbsp; Shares sold | 100 | $460 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 29477 | 134363 |
| &nbsp;&nbsp; Shares purchased | (101000) | (461349) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | (71423) | (326526) |
| &nbsp;&nbsp; Shares purchased upon conversion into other share class(es) | (50422) | (228880) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | (121845) | $(555406) |
| &nbsp;&nbsp; **Year ended October 31, 2024:** |  |  |
| &nbsp;&nbsp; Shares sold | 41792 | $199027 |
| &nbsp;&nbsp; Shares issued in reinvestment of dividends and distributions | 77039 | 364363 |
| &nbsp;&nbsp; Shares purchased | (73642) | (346385) |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding before conversion | 45189 | 217005 |
| &nbsp;&nbsp; Shares issued upon conversion from other share class(es) | 51 | 246 |
| &nbsp;&nbsp; Net increase (decrease) in shares outstanding | 45240 | $217251 |

---

**8.** **Borrowings** 

The RIC, on behalf of each 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

------

Notes to Financial Statements (unaudited) (continued)

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

temporary funding for capital share redemptions. The table below provides details of the SCA in effect at the reporting period-end.

---

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

---

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

The Funds indicated below utilized the SCA during the reporting period ended April 30, 2025. The average balance outstanding is for the number of days the Funds utilized the SCA.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Average<br>Balance<br>Outstanding** | **Weighted<br>Average<br>Interest Rates** | **Number<br>of Days<br>Outstanding** | **Maximum<br>Balance<br>Outstanding** | **Balance<br>Outstanding at <br>April 30, 2025** |
| &nbsp;&nbsp; Emerging Markets Debt Hard Currency | $793000 | 5.68% | 1 | $793000 | $— |
| &nbsp;&nbsp; Emerging Markets Debt Local Currency | 384143 | 5.47 | 7 | 1210000 |  |

---

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

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

---

| | | |
|:---|:---|:---|
| **Risks** | **Emerging Markets**<br> **Debt Hard**<br> **Currency** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emerging Markets** <br> **Debt Local**<br> **Currency** |
| &nbsp;&nbsp; Credit | X | X |
| &nbsp;&nbsp; Currency | X | X |

---

------

---

| | | |
|:---|:---|:---|
| **Risks** | **Emerging Markets**<br> **Debt Hard**<br> **Currency** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emerging Markets** <br> **Debt Local**<br> **Currency** |
| &nbsp;&nbsp; Debt Obligations | X | X |
| &nbsp;&nbsp; Derivatives | X | X |
| &nbsp;&nbsp; Economic and Market Events | X | X |
| &nbsp;&nbsp; Emerging Markets | X | X |
| &nbsp;&nbsp; Foreign Securities | X | X |
| &nbsp;&nbsp; Geographic Concentration | X | X |
| &nbsp;&nbsp; Increase in Expenses | X | X |
| &nbsp;&nbsp; Interest Rate | X | X |
| &nbsp;&nbsp; Junk Bonds | X | X |
| &nbsp;&nbsp; Large Shareholder and Large Scale Redemption | X | X |
| &nbsp;&nbsp; Liquidity | X | X |
| &nbsp;&nbsp; Management | X | X |
| &nbsp;&nbsp; Market Disruption and Geopolitical | X | X |
| &nbsp;&nbsp; Market | X | X |
| &nbsp;&nbsp; Non-Diversified Investment Company |  | X |
| &nbsp;&nbsp; Sovereign Debt | X | X |

---

*Credit Risk:* Credit risk relates to the ability of the issuer of a fixed income instrument or the counterparty to a financial transaction with the Fund to meet interest and principal payments as they come due or to fulfill its obligations to the Fund. The value of the fixed income instruments held by the Fund will be adversely affected by any erosion in the ability of the relevant issuers to make interest and principal payments as they become due. The ratings given to a debt security by certain ratings agencies provide a generally useful guide as to such credit risk. The lower the rating of a debt security held by the Fund, the greater the degree of credit risk that is perceived to exist by the rating agency with respect to that security. Increasing the amount of Fund assets invested in lower-rated securities generally will increase the Fund's income, but also will increase the credit risk to which the Fund is subject. The Fund generally enters into financial transactions with major dealers that are deemed acceptable to the subadviser from a credit perspective.

*Currency Risk:* The Fund's assets may be invested in securities that are denominated in non-US currencies or directly in currencies. Such investments are subject to the risk that the value of a particular currency will change in relation to the US dollar or other currencies. The weakening of a country's currency relative to the US dollar will negatively affect the dollar value of the Fund's assets. Among the factors that may affect currency values are trade balances, levels of short term interest rates, differences in relative values of similar assets in different currencies, long term opportunities for investment and capital appreciation, central bank policy, and political developments. The Fund may attempt to hedge such risks by selling or buying currencies in the forward market; selling or buying currency futures contracts, options or other securities thereon; borrowing funds denominated in particular currencies; or any combination thereof, depending on the availability of liquidity in the hedging instruments and their relative costs. There can be no assurance that such strategies will be implemented or, if implemented, will be effective. The Fund would incur additional costs from hedging.

------

Notes to Financial Statements (unaudited) (continued)

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

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

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

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

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

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

------

the level of economic activity. Relatively reduced liquidity in credit and fixed income markets could adversely affect issuers worldwide.

*Emerging Markets Risk:* The risks of foreign investments are greater for investments in or exposed to emerging markets. Emerging market countries typically have economic and political systems that are less fully developed, and can be expected to be less stable, than those of more developed countries. For example, the economies of such countries can be subject to rapid and unpredictable rates of inflation or deflation. Low trading volumes may result in a lack of liquidity and price volatility. Emerging market countries may have policies that restrict investment by non-U.S. investors, or that prevent non-U.S. investors from withdrawing their money at will.

The Fund may invest in some emerging markets that subject it to risks such as those associated with illiquidity, custody of assets, different settlement and clearance procedures and asserting legal title under a developing legal and regulatory regime to a greater degree than in developed markets or even in other emerging markets.

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

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

*Geographic Concentration Risk:* The Fund's performance may be closely tied to the market, economic, political, regulatory or other conditions in the countries or regions in which the Fund invests. This can result in more pronounced risks based upon conditions that impact one or more countries or regions more or less than other countries or regions.

*Increase in Expenses Risk:* Your actual cost of investing in the Fund may be higher than the expenses shown in the expense table in the Fund's prospectus for a variety of reasons. For example, expense ratios may be higher than those shown if average net assets decrease.

------

Notes to Financial Statements (unaudited) (continued)

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

Net assets are more likely to decrease and Fund expense ratios are more likely to increase when markets are volatile. Active and frequent trading of Fund securities can increase expenses.

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

*Junk Bonds Risk:* High-yield, high-risk bonds have predominantly speculative characteristics, including particularly high credit risk. Junk bonds tend to have lower market liquidity than higher-rated securities. The liquidity of particular issuers or industries within a particular investment category may shrink or disappear suddenly and without warning. The non-investment grade bond market can experience sudden and sharp price swings and become illiquid due to a variety of factors, including changes in economic forecasts, stock market activity, large sustained sales by major investors, a high profile default or a change in the market's psychology.

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

------

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

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

*Market Disruption and Geopolitical Risks:* Market disruption can be caused by economic, financial or political events and factors, including but not limited to, international wars or conflicts (including Russia's military invasion of Ukraine and the Israel-Hamas war), geopolitical developments (including trading and tariff arrangements, sanctions and cybersecurity attacks), instability in regions such as 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

------

Notes to Financial Statements (unaudited) (continued)

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

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.

*Non-Diversified Investment Company Risk:* The Fund is non-diversified for purposes of the 1940 Act. This means that the Fund may invest a greater percentage of its assets in the securities of a single company or other issuer than a diversified fund. Investing in a non-diversified fund involves greater risk than investing in a diversified fund because a loss resulting from the decline in value of any one security may represent a greater portion of the total assets of a non-diversified fund.

*Sovereign Debt Risk:* The Fund may invest in sovereign debt issued by governments, their agencies or instrumentalities, or other government-related entities. Holders of sovereign debt may be requested to participate in the rescheduling of such debt and to extend further loans to governmental entities. In addition, there is no bankruptcy proceeding by which defaulted sovereign debt may be collected.

**10.** **Subsequent Event** 

Each 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 April 30, 2025.

------

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

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

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

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

------

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

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

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

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

Item 16 – Controls and Procedures

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

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

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

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

Item 19 – Exhibits

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(1) | Code of Ethics – Not required, as this is not an annual filing. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(2) | Policy required by the listing standards adopted pursuant to Rule 10D-1 under the Securities Exchange Act of 1934 – Not applicable. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(3) | [Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 – Attached hereto as Exhibit EX-99.CERT.](d932053dex99cert.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)(4) | Any written solicitation to purchase securities under Rule 23c-1 under the Investment Company Act of 1940- Not applicable. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.](d932053dex99906cert.htm)

------

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

---

| | |
|:---|:---|
| Registrant: | <u>Prudential World Fund, Inc.</u> |
| By: | <u>/s/ Andrew R. French</u> |
|  | Andrew R. French |
|  | Secretary |
| Date: | June 20, 2025 |

---

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

---

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

---

## Ex-99.Cert

Item 19

**Prudential World Fund, Inc.** 

Semi-Annual period ending 4/30/25

File No. 811-03981

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

I, Stuart S. Parker, certify that:

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

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

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

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

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

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.

June 20, 2025

---

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

---

------

Item 19

**Prudential World Fund, Inc.** 

Semi-Annual period ending 4/30/25

File No. 811-03981

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

I, Christian J. Kelly, certify that:

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

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

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

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

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

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.

June 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 World 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.

---

| | |
|:---|:---|
| June 20, 2025 | <u>/s/ Stuart S. Parker</u> |
|  | Stuart S. Parker |
|  | President and Principal Executive Officer |
| June 20, 2025 | <u>/s/ Christian J. Kelly</u> |
|  | Christian J. Kelly |
|  | Chief Financial Officer<br> (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.*