# EDGAR Filing Document

**Accession Number:** 0001534880
**File Stem:** 0001193125-23-081802
**Filing Date:** 2023-3
**Character Count:** 605149
**Document Hash:** 47ca9355ce550626debdb4e73a1df01f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-081802.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001193125-23-081802

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 9

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**EFFECTIVENESS DATE**: 20230328

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PGIM High Yield Bond Fund, Inc.
- **CENTRAL INDEX KEY:** 0001534880
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22632
- **FILM NUMBER:** 23767610

**BUSINESS ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 17TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102
- **BUSINESS PHONE:** 973-802-5032

**MAIL ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 17TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PGIM Short Duration High Yield Fund, Inc.
- **DATE OF NAME CHANGE:** 20180626

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Prudential Short Duration High Yield Fund, Inc.
- **DATE OF NAME CHANGE:** 20120209

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Prudential Short Term High Yield Fund, Inc.
- **DATE OF NAME CHANGE:** 20111115

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: | 811-22632 |
| Exact name of registrant as specified in charter: | PGIM High Yield Bond 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: | 7/31/2023 |
| Date of reporting period: | 1/31/2023 |

---

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Item 1 – Reports to Stockholders

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![LOGO](g435186sp1a.jpg)

## PGIM FIXED INCOME CLOSED-END FUNDS
PGIM GLOBAL HIGH YIELD FUND, INC.

PGIM HIGH YIELD BOND FUND, INC.

PGIM SHORT DURATION HIGH YIELD OPPORTUNITIES FUND

**SEMIANNUAL REPORT** 

**JANUARY 31, 2023**![LOGO](g435186sp1n.jpg)

**To enroll in e-delivery, go to pgim.com/investments/resource/edelivery** 

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**Table of Contents** 

---

| | |
|:---|:---|
|  [Letter from the President](#edgar435186_1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 |
|  [PGIM Global High Yield Fund, Inc.](#edgar435186_2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
|  [Strategy and Performance Overview](#edgar435186_3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
|  [PGIM High Yield Bond Fund, Inc.](#edgar435186_4) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 |
|  [Strategy and Performance Overview](#edgar435186_5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |
|  [PGIM Short Duration High Yield Opportunities Fund](#edgar435186_6) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 |
|  [Strategy and Performance Overview](#edgar435186_7) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
|  [Holdings and Financial Statements](#edgar435186_8) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |

---

The views expressed in this report and information about the Fund's portfolio holdings are for the period covered by this report and are subject to change thereafter.

The accompanying financial statements as of January 31, 2023 were not audited and, accordingly, no auditor's opinion is expressed on them.

PGIM Fixed Income is a unit of PGIM, Inc. (PGIM), a registered investment adviser. PGIM is a Prudential Financial Company.© 2023 Prudential Financial, Inc. and its related entities. PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

2 Visit our website at pgim.com/investments

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**Letter from the President** 

---

| | |
|:---|:---|
| ![LOGO](g435186sp3.jpg) | Dear Shareholder:<br>We hope you find the semiannual report for the PGIM Fixed Income Closed-End Funds informative and useful. The report covers performance for the six-month period ended January 31, 2023.<br>Regarding your investments with PGIM, we believe it is important to maintain a diversified portfolio of funds consistent with your tolerance for risk, time horizon, and financial goals. |

---

Your financial advisor can help you create a diversified investment plan that may include funds covering all the basic asset classes and that reflects your personal investor profile and risk tolerance. However, diversification and asset allocation strategies do not assure a profit or protect against loss in declining markets.

At PGIM Investments, we provide access to active investment strategies across the global markets in the pursuit of consistent outperformance for investors. PGIM is the world's 11th-largest investment manager with more than $1.5 trillion in assets under management. Our scale and investment expertise allow us to deliver a diversified suite of actively managed solutions across a broad spectrum of asset classes and investment styles.

Thank you for choosing our family of funds.

Sincerely,

![LOGO](g435186sp3a.jpg)

**Stuart S. Parker, President** 

PGIM Fixed Income Closed-End Funds

March 15, 2023

PGIM Fixed Income Closed-End Funds 3

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**PGIM Global High Yield Fund, Inc.** 

**Your Fund's Performance** 

**Performance data quoted represent past performance and assume the reinvestment of all dividends. Past performance does not guarantee future results. An investor may obtain performance data as of the most recent month-end by visiting our website at pgim.com/investments.** 

**Investment Objective** 

The Fund seeks to provide a high level of current income.

---

| |
|:---|
| **Price Per Share as of 1/31/23** |
| &nbsp;&nbsp; $12.97 Net Asset Value (NAV) |
| &nbsp;&nbsp; $11.85 Market Price |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Total Returns as of 1/31/23** | **Average Annual Total Returns as of 1/31/23** | **Average Annual Total Returns as of 1/31/23** | **Average Annual Total Returns as of 1/31/23** |
| | **Six Months\* (%)** | **One Year (%)** | **Five Years (%)** | **Ten Years (%)** |
| &nbsp;&nbsp; Net Asset Value (NAV) | 4.24 | -9.36 | 3.18 | 4.27 |
| &nbsp;&nbsp; Market Price | 4.65 | -8.67 | 5.22 | 3.63 |
| &nbsp;&nbsp; Bloomberg Global High Yield 2% Issuer Constrained (USD Hedged) Index | &nbsp;&nbsp; Bloomberg Global High Yield 2% Issuer Constrained (USD Hedged) Index | &nbsp;&nbsp; Bloomberg Global High Yield 2% Issuer Constrained (USD Hedged) Index |  |  |
|  | 4.24 | -5.52 | 1.91 | 4.05 |

---

\*Not annualized

*Total returns are based on changes in net asset value (NAV) or market price, respectively. NAV total return assumes the reinvestment of all distributions, including returns of capital, if any, at NAV. Market Price total return assumes the reinvestment of all distributions, including returns of capital, if any, in additional shares in accordance with the Fund's Dividend Reinvestment Plan.* 

---

| | | | |
|:---|:---|:---|:---|
| **Key Fund Statistics as of 1/31/23** | **Key Fund Statistics as of 1/31/23** |  | |
|  &nbsp;&nbsp;&nbsp;&nbsp;Duration | 4.6 years | Average Maturity | 6.1 years |

---

*Duration shown includes the impact of leverage. Duration measures investment risk that takes into account both a bond's interest payments and its value to maturity. Average Maturity is the average number of years to maturity of the bonds in the Fund's portfolio.* 

4 Visit our website at pgim.com/investments

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---

| | |
|:---|:---|
| **Credit Quality expressed as a percentage of total investments as of 1/31/23 (%)** | |
| &nbsp;&nbsp; AAA | 3.3 |
| &nbsp;&nbsp; BBB | 11.1 |
| &nbsp;&nbsp; BB | 40.4 |
| &nbsp;&nbsp; B | 27.4 |
| &nbsp;&nbsp; CCC | 14.4 |
| &nbsp;&nbsp; CC | 0.2 |
| &nbsp;&nbsp; C | 0.2 |
| &nbsp;&nbsp; D | 0.1 |
| &nbsp;&nbsp; Not Rated | 1.9 |
| &nbsp;&nbsp; Cash/Cash Equivalents | 1 |
| &nbsp;&nbsp;&nbsp; Total | 100 |

---

*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. These rating agencies are independent and are widely used. The Not Rated category consists of securities that have not been rated by an NRSRO. Credit ratings are subject to change.* 

---

| | | |
|:---|:---|:---|
| **Yield and Dividends as of 1/31/23** | **Yield and Dividends as of 1/31/23** | **Yield and Dividends as of 1/31/23** |
| **Total Monthly Dividends**<br> **Paid per Share for Period** | **Current Monthly Dividend**<br> **Paid per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Yield at Market Price** <br> **as of 1/31/23** |
| &nbsp;&nbsp; $0.63 | $0.105 | 10.63% |

---

*Yield at Market Price is the annualized rate determined by dividing the current monthly dividend paid per share by the market price per share as of January 31, 2023.* 

PGIM Fixed Income Closed-End Funds 5

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**Strategy and Performance Overview\*** 

PGIM Global High Yield Fund, Inc.

**How did the Fund perform?** 

The **PGIM Global High Yield Fund, Inc.**'s shares returned 4.65% based on market price and 4.24% based on net asset value (NAV) in the six-month reporting period that ended January 31, 2023. For the same period, the Bloomberg Global High Yield 2% Issuer Constrained (USD Hedged) Index (the Index) returned 4.24%, including reinvestment of dividends.

**What were the market conditions?** 

· Global high yield bond spreads tightened during the reporting period amid easing inflation concerns, limited new supply,
better-than-anticipated earnings, and receding recession concerns. Retail demand turned positive in the fourth quarter of 2022, as a shift in the growth and inflation narrative, including a downshift in inflation prints and continued US labor market
resilience, helped reverse some of the heavy outflows recorded earlier in 2022. Meanwhile, primary market activity remained relatively subdued throughout the reporting period before beginning to pick up again in January 2023, as higher yields and
market volatility led to a significant decline in high yield issuance toward the end of 2022.

· In the US, spreads on the Bloomberg US High Yield 1% Issuer Constrained Index tightened by 51 basis points (bps) to end the
reporting period at 425 bps. (One basis point equals 0.01%). This index posted total returns and excess returns of 1.50% and 3.26%, respectively, over the reporting period. By quality, while all ratings categories exhibited positive total returns, B-rated bonds outperformed over the reporting period. High yield gross new issue volume increased in January 2023, totaling $20.5 billion, a sharp reversal from the $16.6 billion that was issued over the
entire fourth quarter of 2022. In 2022, full-year gross issuance totaled just $106.5 billion, down from the $483.0 billion that priced in 2021. While fundamentals remained solid, ratings agency actions began trending negative, with the
number of downgrades outpacing the number of upgrades. Meanwhile, defaults trended higher, with the trailing 12-month, par-weighted US high yield default rate ending
January 2023 at 1.83%, its highest level since June 2021 and up from 0.32% a year earlier.

· In Europe, spreads on the Bloomberg Pan-European High Yield Index tightened by 129
bps to end the reporting period at 460 bps, amid improved risk sentiment and limited new issuance as market volatility caused a significant slowdown in primary market activity. By quality, all credit tiers posted positive returns over the reporting
period, with CCC-rated bonds outperforming as risk sentiment improved markedly in the last month of the reporting period.

· In the emerging markets debt sector, high yield sovereigns and corporates posted positive returns as emerging markets assets
benefited from an improving macro economic backdrop, signs that inflation had peaked, and China's relaxation of its

6 Visit our website at pgim.com/investments

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zero-COVID-19 policy. Emerging markets hard currency spreads, as measured by the JP Morgan EMBI Global Diversified Index, tightened during the reporting period, with the high yield portion of that index tightening 164 bps to end the reporting period at 796 bps.

**What worked?** 

· Having more beta in the Fund, on average, relative to the Index was the largest contributor to returns over the reporting
period. (Beta is a measure of the volatility or risk of a security or portfolio compared to the market or index.) Overall security selection and sector allocation both detracted from performance.

· Within the North American region, overweights relative to the Index to the consumer non-cyclical and aerospace & defense industries, along with an underweight relative to the Index to telecom, contributed to performance.

· In the European+ Developed Markets region, overweights relative to the Index to the telecom and retail industries, along
with an underweight relative to the Index to healthcare, contributed to performance.

· Within emerging markets, overweights relative to the Index to Argentina and the Republic of Serbia, along with an
underweight relative to the Index to Turkey, contributed to performance.

· Overweights to Emerging Markets issuers Argentina and **DME Airport DAC** (transportation) and an overweight to
USA & Canada issuer **Bombardier Inc**. (aerospace & defense), were among the largest single-name contributors.

**What didn't work?** 

· Within the North American region, overweights relative to the Index to the healthcare & pharmaceuticals, upstream
energy, and electric utilities industries detracted from performance.

· In the European+ Developed Markets region, overweights relative to the Index to food, financials, and car rentals detracted.

· Within emerging markets, overweights relative to the Index to Brazil, Cote D'Ivoire, and Jamaica detracted from
performance.

· Emerging Markets issuer overweights to **Digicel Group** (telecom) and **B2W Digital Lux SRL** (retailers &
restaurants), along with an overweight to Europe+ Developed Markets issuer **Constellation Automotive Limited** (auto parts & distribution), were among the largest single-name detractors.

**How did the Fund's borrowing (leverage) strategy affect its performance?** 

The Fund's use of leverage detracted from NAV performance and shareholder distributions during the reporting period, as both the returns and income earned on the securities purchased exceeded the cost of borrowing. As of the end of the reporting

PGIM Fixed Income Closed-End Funds 7

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**Strategy and Performance Overview\*** (continued)

period, the Fund had borrowed $105 million and was 16.5% leveraged. During the reporting period, the average amount of leverage utilized by the Fund was 15.2%.

**Did the Fund use derivatives?** 

The Fund utilized credit index derivatives to manage its overall risk profile, which had a positive impact on performance during the reporting period. Derivatives in the form of forward currency exchange contracts and interest rate hedges were also used, the combined impact of which was positive.

**Current outlook** 

· While recent inflation data provided encouraging signs that the likelihood of a more severe stagflation scenario is waning,
PGIM Fixed Income remains cautious on US high yield in light of the US Federal Reserve's signaling that interest rates may rise further, increasing the risk of overtightening. Still, market fundamentals remain on solid footing heading into what
is likely to be a more challenging backdrop for issuers in 2023. Should the US economy follow PGIM Fixed Income's base-case recession scenario, high yield defaults are expected to rise to 5% over the next 12 months. The Fund remains defensively
positioned, with elevated cash and liquidity, as spreads are expected to widen in the second half of the first quarter of 2023 as issuance picks up following the typical January slowdown.

· PGIM Fixed Income remains cautious over the near term on European high yield, given its base-case scenario of a recession in
Europe, and expects spreads to widen over the next three to six months. Inflation remains persistently high and the pace of normalization uncertain, while a re-escalation of the Russian/Ukraine war could
further complicate the economic situation. That said, PGIM Fixed Income expects to turn more constructive once these headwinds have been adequately priced by the market.

· Emerging markets debt has exhibited resilience over the past several months, and PGIM Fixed Income believes some of this
resilience reflects earlier, defensive positioning among investors and the recognition that they had priced in too much bad news. Now that headwinds are shifting, individual bonds within each sector can better reflect their own fundamentals and
relative value. Emerging markets corporate spreads have retraced two-thirds of their widening from last year. However, PGIM Fixed Income continues to find good value, especially in the BB and BBB rating
categories.

*\*This strategy and performance overview, which discusses what strategies or holdings (including derivatives, if applicable) affected the Fund's performance, is compiled based on how the Fund performed relative to the Fund's benchmark index and is viewed for performance attribution purposes at the aggregate Fund level, which in most instances will not directly correlate to the amounts disclosed in the Statement of Operations which conform to US generally accepted accounting principles* 

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**Benchmark Definition** 

**Bloomberg Global High Yield 2% Issuer Constrained (USD Hedged) Index**—The Bloomberg Global High Yield 2% Issuer Constrained (USD Hedged) Index (the Index) is an unmanaged index which covers the universe of non-investment-grade debt in the United States, developed markets and emerging markets. Issuers are capped at 2% of the Index.

Investors cannot invest directly in an index.

**Looking for additional information?** 

The Fund is traded on the New York Stock Exchange (NYSE) under the symbol "GHY," and its closing market price is available on most financial websites under the NYSE listings. The daily NAV is available online under the symbol "XGHYX" on most financial websites. *Barron's* and *The Wall Street Journal*'s Monday edition both carry closed-end fund tables that provide additional information. In addition, the Fund issues press releases that can be found on most major financial websites as well as on pgim.com/investments.

PGIM Fixed Income Closed-End Funds 9

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**PGIM High Yield Bond Fund, Inc.** 

**Your Fund's Performance** 

**Performance data quoted represent past performance and assume the reinvestment of all dividends. Past performance does not guarantee future results. An investor may obtain performance data as of the most recent month-end by visiting our website at pgim.com/investments.** 

**Investment Objective** 

The Fund seeks to provide a high level of current income.

---

| |
|:---|
| **Price per Share as of 1/31/23** |
| &nbsp;&nbsp; $14.03 Net Asset Value (NAV) |
| &nbsp;&nbsp; $13.06 Market Price |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Total Returns as of 1/31/23** | **Average Annual Total Returns as of 1/31/23** | **Average Annual Total Returns as of 1/31/23** | **Average Annual Total Returns as of 1/31/23** |
| | **Six Months\* (%)** | **One Year (%)** | **Five Years (%)** | **Ten Years (%)** |
| &nbsp;&nbsp; Net Asset Value (NAV) | 1.71 | -6.74 | 4.35 | 4.66 |
| &nbsp;&nbsp; Market Price | 5.56 | -7.04 | 6.34 | 4.31 |
| &nbsp;&nbsp; Bloomberg US High Yield 1% Issuer Constrained Index | &nbsp;&nbsp; Bloomberg US High Yield 1% Issuer Constrained Index | &nbsp;&nbsp; Bloomberg US High Yield 1% Issuer Constrained Index |  |  |
|  | 1.49 | -5.19 | 2.81 | 4.21 |

---

\*Not annualized

*Total returns are based on changes in net asset value (NAV) or market price, respectively. NAV total return assumes the reinvestment of all distributions, including returns of capital, if any, at NAV. Market Price total return assumes the reinvestment of all distributions, including returns of capital, if any, in additional shares in accordance with the Fund's Dividend Reinvestment Plan.* 

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| | | | |
|:---|:---|:---|:---|
| **Key Fund Statistics as of 1/31/23** | **Key Fund Statistics as of 1/31/23** |  | |
|  &nbsp;&nbsp;&nbsp;&nbsp;Duration | 4.3 years | Average Maturity | 5.2 years |

---

*Duration shown includes the impact of leverage. Duration measures investment risk that takes into account both a bond's interest payments and its value to maturity. Average Maturity is the average number of years to maturity of the bonds in the Fund's portfolio.* 

10 Visit our website at pgim.com/investments

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| | |
|:---|:---|
| **Credit Quality expressed as a percentage of total investments as of 1/31/23 (%)** | |
| &nbsp;&nbsp;&nbsp;&nbsp; AAA | 7.0 |
| &nbsp;&nbsp;&nbsp;&nbsp; A | 0.1 |
| &nbsp;&nbsp;&nbsp;&nbsp; BBB | 7.2 |
| &nbsp;&nbsp;&nbsp;&nbsp; BB | 43.2 |
| &nbsp;&nbsp;&nbsp;&nbsp; B | 27.7 |
| &nbsp;&nbsp;&nbsp;&nbsp; CCC | 10.1 |
| &nbsp;&nbsp;&nbsp;&nbsp; CC | 0.1 |
| &nbsp;&nbsp;&nbsp;&nbsp; D | 0.1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Not Rated | 2.2 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash/Cash Equivalents | 2.3 |
| &nbsp;&nbsp;&nbsp;Total | 100 |

---

*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. These rating agencies are independent and are widely used. The Not Rated category consists of securities that have not been rated by an NRSRO. Credit ratings are subject to change.* 

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| | | |
|:---|:---|:---|
| **Yield and Dividends as of 1/31/23** | **Yield and Dividends as of 1/31/23** | **Yield and Dividends as of 1/31/23** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Monthly Dividends**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Paid per Share for Period** | **Current Monthly Dividend**<br> **Paid per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Yield at Market Price** <br> **as of 1/31/23** |
| &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0.63 | $0.105 | 9.65% |

---

*Yield at market price is the annualized rate determined by dividing the current monthly dividend paid per share by the market price per share as of January 31, 2023.* 

PGIM Fixed Income Closed-End Funds 11

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**Strategy and Performance Overview\*** 

PGIM High Yield Bond Fund, Inc.

**How did the Fund perform?** 

The **PGIM High Yield Bond Fund, Inc.**'s shares returned 5.56% based on market price and 1.71% based on net asset value (NAV) in the six-month reporting period that ended January 31, 2023. For the same period, the Bloomberg US High Yield 1% Issuer Constrained Index (the Index) returned 1.49%.

**What were the market conditions?** 

· US high yield bond spreads tightened during the reporting period amid easing inflation concerns, limited new supply,
better-than-anticipated earnings, and receding recession concerns. Retail demand turned positive in the fourth quarter of 2022, as a shift in the growth and inflation narrative, including a downshift in inflation prints and continued US labor market
resilience, helped reverse some of the heavy outflows recorded earlier in 2022. Meanwhile, primary market activity remained relatively subdued throughout the reporting period before beginning to pick up again in January 2023, as higher yields and
market volatility led to a significant decline in high yield issuance toward the end of 2022.

· Spreads on the Index tightened by 51 basis points (bps) to end the reporting period at 425 bps. (One basis point equals
0.01%). The Index posted total returns and excess returns of 1.50% and 3.26%, respectively, over the reporting period. By quality, while all ratings categories exhibited positive total returns, B-rated bonds
outperformed over the reporting period.

· High yield gross new issue volume increased in January 2023, totaling $20.5 billion, a sharp reversal from the
$16.6 billion that was issued over the entire fourth quarter of 2022. In 2022, full-year gross issuance totaled just $106.5 billion, down from the $483.0 billion that priced in 2021.

· While fundamentals remained solid, ratings agency actions began trending negative, with the number of downgrades outpacing
the number of upgrades. Meanwhile, defaults trended higher, with the trailing 12-month, par-weighted US high yield default rate ending January 2023 at 1.83%, its highest
level since June 2021 and up from 0.32% a year earlier.

**What worked?** 

· Having more beta in the Fund, on average, over the reporting period than the Index was the largest contributor to
performance during the period. (Beta is a measure of the volatility or risk of a security or portfolio compared to the market or index.)

· Overall sector allocation was also a strong contributor to performance, with overweights relative to the Index to the
upstream energy, building materials & home construction, and aerospace & defense industries contributing the most.

· While overall security selection detracted from returns, selection in the retailers & restaurants, consumer non-cyclical, and finance & insurance industries contributed to performance.

12 Visit our website at pgim.com/investments

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· In individual security selection, the Fund's overweights relative to the Index in **West Technology Group Inc.** (consumer non-cyclical) and **Bombardier Inc.** (aerospace & defense), along with an underweight relative to the Index to **Carvana Co.** (retailers & restaurants) contributed to
performance.

**What didn't work?** 

· Overall security selection detracted from performance, with selection in telecom, chemicals, and media &
entertainment detracting the most.

· While overall sector allocation contributed to performance, overweights relative to the Index to cable & satellite
and healthcare & pharmaceuticals, along with an underweight relative to the Index to gaming/lodging/leisure, detracted.

· In individual security selection, the Fund's overweights to **Diamond Sports Group LLC** (media &
entertainment), **Venator Finance SARL** (chemicals), and **Genon Holdings Inc.** (electric utilities) detracted from performance.

**How did the Fund's borrowing (leverage) strategy affect its performance?** 

The Fund's use of leverage detracted from NAV performance and shareholder distributions during the reporting period, as both the returns and income earned on the securities purchased exceeded the cost of borrowing. As of the end of the reporting period, the Fund had borrowed $120 million and was about 20.4% leveraged. During the reporting period, the average amount of leverage utilized by the Fund was about 19.9%.

**Did the Fund use derivatives?** 

The Fund used credit index derivatives to manage its overall risk profile, which had a positive impact on performance during the reporting period. In addition, the Fund traded interest rate futures, swaps, and foreign exchange derivatives, the combined impact of which was positive.

**Current outlook** 

· While recent inflation data provided encouraging signs that the likelihood of a more severe stagflation scenario is waning,
PGIM Fixed Income remains cautious in light of the US Federal Reserve's signaling that interest rates may rise further, increasing the risk of overtightening. Still, US high yield market fundamentals remain on solid footing heading into what is
likely to be a more challenging backdrop for issuers in 2023.

· Although PGIM Fixed Income remains defensive, defaults aren't expected to be as severe as in previous downturns due to
the favorable positions of most issuers, with strong debt serviceability and favorable maturity profiles. Moreover, the market is of a higher quality today than in prior cycles, with BB-rated credits and high single-B-rated credits comprising a majority of the overall market, as many weaker credits were purged during the COVID-19 shutdown and
more middle-market credits migrated to the loan market.

PGIM Fixed Income Closed-End Funds 13

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**Strategy and Performance Overview\*** (continued)

· Should the economy follow PGIM Fixed Income's base-case recession scenario, high yield defaults are expected to rise to
5% over the next 12 months. The Fund remains defensively positioned, with elevated cash and liquidity, as PGIM Fixed Income expects spreads to widen in the second half of the first quarter of 2023 as issuance picks up following the typical January
slowdown.

*\*This strategy and performance overview, which discusses what strategies or holdings (including derivatives, if applicable) affected the Fund's performance, is compiled based on how the Fund performed relative to the Fund's benchmark index and is viewed for performance attribution purposes at the aggregate Fund level, which in most instances will not directly correlate to the amounts disclosed in the Statement of Operations which conform to US generally accepted accounting principles.* 

**Benchmark Definition** 

**Bloomberg US High Yield 1% Issuer Constrained Index**—The Bloomberg US High Yield 1% Issuer Constrained Index (the Index) is an unmanaged index which covers the universe of US dollar denominated, non-convertible, fixed rate, non-investment grade debt. Issuers are capped at 1% of the Index. Index holdings must have at least one year to final maturity, at least $150 million par amount outstanding, and be publicly issued with a rating of Ba1 or lower.

Investors cannot invest directly in an index.

**Looking for additional information?** 

The Fund is traded on the New York Stock Exchange (NYSE) under the symbol "ISD" and its closing market price is available on most financial websites under the NYSE listings. The daily NAV is available online under the symbol "XISDX" on most financial websites. *Barron's* and *The Wall Street Journal's* Monday edition both carry closed-end fund tables that provide additional information. In addition, the Fund issues press releases that can be found on most major financial websites as well as on pgim.com/investments.

14 Visit our website at pgim.com/investments

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**PGIM Short Duration High Yield Opportunities Fund** 

**Your Fund's Performance** 

**Performance data quoted represent past performance and assume the reinvestment of all dividends. Past performance does not guarantee future results. An investor may obtain performance data as of the most recent month-end by visiting our website at pgim.com/investments.** 

**Investment Objective** 

The Fund's investment objective is to provide total return, through a combination of current income and capital appreciation.

---

| |
|:---|
| **Price per Share as of 1/31/23** |
| &nbsp;&nbsp; $17.27 Net Asset Value (NAV) |
| &nbsp;&nbsp; $15.82 Market Price |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Total Returns as of 1/31/23** | **Average Annual Total Returns as of 1/31/23** | **Average Annual Total Returns as of 1/31/23** |
|  | **Six Months\* (%)** | **One Year (%)** | **Since Inception (%)** |
| &nbsp;&nbsp; Net Asset Value (NAV) | 2.65 | -3.16 | -0.10 (11/25/2020) |
| &nbsp;&nbsp; Market Price | 5.95 | -3.47 | -3.48 (11/25/2020) |
| &nbsp;&nbsp; Bloomberg US High Yield Ba/B 1-5 Year 1% Constrained Index | &nbsp;&nbsp; Bloomberg US High Yield Ba/B 1-5 Year 1% Constrained Index |  |  |
|  | 2.62 | -1.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.55 |

---

\*Not annualized

Since Inception returns for the Index are measured from the closest month-end to the Fund's inception date.

*Total returns are based on changes in net asset value (NAV) or market price, respectively. NAV total return assumes the reinvestment of all distributions, including returns of capital, if any, at NAV. Market Price total return assumes the reinvestment of all distributions, including returns of capital, if any, in additional shares in accordance with the Fund's Dividend Reinvestment Plan.* 

---

| | | | |
|:---|:---|:---|:---|
| **Key Fund Statistics as of 1/31/23** | **Key Fund Statistics as of 1/31/23** |  |  |
| &nbsp;&nbsp; Duration  | 2.5 years | Average Maturity | 3.2 years |

---

*Duration shown includes the impact of leverage. Duration measures investment risk that takes into account both a bond's interest payments and its value to maturity. Average Maturity is the average number of years to maturity of the bonds in the Fund's portfolio.* 

PGIM Fixed Income Closed-End Funds 15

------

**PGIM Short Duration High Yield Opportunities Fund** 

**Your Fund's Performance** (continued)

---

| | |
|:---|:---|
| **Credit Quality expressed as a percentage of total investments as of 1/31/23 (%)** | |
| &nbsp;&nbsp;&nbsp;&nbsp; AAA | 6.8 |
| &nbsp;&nbsp;&nbsp;&nbsp; A | 0.1 |
| &nbsp;&nbsp;&nbsp;&nbsp; BBB | 7.2 |
| &nbsp;&nbsp;&nbsp;&nbsp; BB | 38.9 |
| &nbsp;&nbsp;&nbsp;&nbsp; B | 38.9 |
| &nbsp;&nbsp;&nbsp;&nbsp; CCC | 6.3 |
| &nbsp;&nbsp;&nbsp;&nbsp; D | 0.2 |
| &nbsp;&nbsp;&nbsp;&nbsp; Not Rated | 0.5 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash/Cash Equivalents | 1.1 |
| &nbsp;&nbsp;&nbsp;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. These rating agencies are independent and are widely used. The Not Rated category consists of securities that have not been rated by an NRSRO. Credit ratings are subject to change.* 

---

| | | |
|:---|:---|:---|
| **Yield and Dividends as of 1/31/23** | **Yield and Dividends as of 1/31/23** | **Yield and Dividends as of 1/31/23** |
| **Total Monthly Dividends**<br> **Paid per Share for Period** | **Current Monthly Dividend**<br> **Paid per Share** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Yield at Market Price** <br> **as of 1/31/23** |
| &nbsp;&nbsp; $0.65 | $0.108 | 8.19% |

---

*Yield at market price is the annualized rate determined by dividing the current monthly dividend paid per share by the market price per share as of January 31, 2023.* 

16 Visit our website at pgim.com/investments

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**Strategy and Performance Overview\*** 

PGIM Short Duration High Yield Opportunities Fund

**How did the Fund perform?** 

The **PGIM Short Duration High Yield Opportunities Fund**'s shares returned 5.95% based on market price and 2.65% based on net asset value (NAV) in the six-month reporting period that ended January 31, 2023. For the same period, the Bloomberg US 1-5 Year High Yield Ba/B 1% Issuer Constrained Index (the Index) returned 2.62%, including reinvestment of dividends.

**What were the market conditions?** 

· US high yield bond spreads tightened during the reporting period amid easing inflation concerns, limited new supply,
better-than-anticipated earnings, and receding recession concerns. Retail demand turned positive in the fourth quarter of 2022, as a shift in the growth and inflation narrative, including a downshift in inflation prints and continued US labor market
resilience, helped reverse some of the heavy outflows recorded earlier in 2022. Meanwhile, primary market activity remained relatively subdued throughout the reporting period before beginning to pick up again in January 2023, as higher yields and
market volatility led to a significant decline in high yield issuance toward the end of 2022.

· Spreads on the Bloomberg US High Yield 1% Issuer Constrained Index tightened by 51 basis points (bps) to end the reporting
period at 425 bps. (One basis point equals 0.01%). This index posted total returns and excess returns of 1.50% and 3.26%, respectively, over the reporting period. Spreads on the short-duration, higher-quality portion of the high yield market, as
measured by the benchmark Index, tightened 90 bps over the reporting period to 329 bps. By quality, while all ratings categories exhibited positive total returns, B-rated bonds outperformed over the period.

· High yield gross new issue volume increased in January 2023, totaling $20.5 billion, a sharp reversal from the
$16.6 billion that was issued over the entire fourth quarter of 2022. In 2022, full-year gross issuance totaled just $106.5 billion, down from the $483.0 billion that priced in 2021.

· While fundamentals remained solid, ratings agency actions began trending negative, with the number of downgrades outpacing
the number of upgrades. Meanwhile, defaults trended higher, with the trailing 12-month, par-weighted US high yield default rate ending January 2023 at 1.83%, its highest
level since June 2021 and up from 0.32% a year earlier.

**What worked?** 

· Having more beta in the Fund, on average, over the reporting period than the Index was a strong contributor to performance.
(Beta is a measure of the volatility or risk of a security or portfolio compared to the market or index.)

PGIM Fixed Income Closed-End Funds 17

------

**Strategy and Performance Overview\*** (continued)

· Overall security selection also contributed to returns for the reporting period. Specifically, security selection in the
technology, consumer non-cyclicals, and healthcare & pharmaceutical industries contributed positively to the Fund's returns.

· While overall sector allocation detracted from performance, an overweight relative to the Index to metals & mining,
along with underweights relative to the Index to media & entertainment and retailers & restaurants, contributed to performance.

· In individual security selection, the Fund's overweights relative to the Index in **West Technology Group Inc.** (consumer non-cyclical) and **P&L Development LLC** (healthcare & pharmaceuticals), along with an underweight relative to the Index to **Veritas US Inc.** (technology) were the largest
contributors to performance.

**What didn't work?** 

· While overall security selection contributed to performance, selection within the telecom, chemicals, and metals &
mining industries detracted from the Fund's results.

· Within sector allocation, overweights relative to the Index to the healthcare & pharmaceuticals, technology, and
telecom industries, along with an underweight to gaming/lodging/leisure, detracted from results.

· In individual security selection, the Fund's overweights in **Venator Finance SARL** (chemicals), **Lifepoint Health** (healthcare & pharmaceuticals), and **Rackspace Technology Inc.** (technology) were the largest detractors from performance.

**How did the Fund's borrowing (leverage) strategy affect its performance?** 

The Fund's use of leverage detracted from NAV performance and shareholder distributions, as both the returns and income earned on the securities purchased exceeded the cost of borrowing. As of the end of the reporting period, the Fund had borrowed $85 million and was about 16.6% leveraged. During the reporting period, the average amount of leverage utilized by the Fund was about 19.3%.

**Did the Fund use derivatives?** 

The Fund used credit index derivatives to manage its overall risk profile, which had a positive impact on performance during the reporting period. In addition, the Fund traded interest rate futures, swaps, and foreign exchange derivatives, the combined impact of which was positive.

**Current outlook** 

· While recent inflation data provided encouraging signs that the likelihood of a more severe stagflation scenario is waning,
PGIM Fixed Income remains cautious in light of the US Federal Reserve's signaling that interest rates may rise further, increasing the risk of overtightening. Still, US high yield market fundamentals remain on solid footing heading into what is
likely to be a more challenging backdrop for issuers in 2023.

18 Visit our website at pgim.com/investments

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· Although PGIM Fixed Income remains defensive, defaults aren't expected to be as severe as in previous downturns due to
the favorable positions of most issuers, with strong debt serviceability and favorable maturity profiles. Moreover, the market is of a higher quality today than in prior cycles, with BB-rated credits and high single-B-rated credits comprising a majority of the overall market, as many weaker credits were purged during the COVID-19 shutdown and
more middle-market credits migrated to the loan market.

· Should the economy follow PGIM Fixed Income's base-case recession scenario, high yield defaults are expected to rise to
5% over the next 12 months. The Fund remains defensively positioned, with elevated cash and liquidity, as PGIM Fixed Income expects spreads to widen in the second half of the first quarter of 2023 as issuance picks up following the typical January
slowdown.

*\*This strategy and performance overview, which discusses what strategies or holdings (including derivatives, if applicable) affected the Fund's performance, is compiled based on how the Fund performed relative to the Fund's benchmark index and is viewed for performance attribution purposes at the aggregate Fund level, which in most instances will not directly correlate to the amounts disclosed in the Statement of Operations which conform to US generally accepted accounting principles.* 

PGIM Fixed Income Closed-End Funds 19

------

**Strategy and Performance Overview\*** (continued)

**Benchmark Definition** 

**Bloomberg US 1-5 Year High Yield Ba/B 1% Issuer Constrained Index**—The Bloomberg US 1-5 Year High Yield Ba/B 1% Issuer Constrained Index (the Index) is an unmanaged index which covers the universe of non-investment-grade debt in the United States, developed markets and emerging markets. Issuers are capped at 1% of the Index.

Investors cannot invest directly in an index.

**Looking for additional information?** 

The Fund is traded on the New York Stock Exchange (NYSE) under the symbol "SDHY" and its closing market price is available on most financial websites under the NYSE listings. The daily NAV is available online under the symbol "XSDHX" on most financial websites. *Barron's* and *The Wall Street Journal's* Monday edition both carry closed-end fund tables that provide additional information. In addition, the Fund issues press releases that can be found on most major financial websites as well as on pgim.com/investments.

20 Visit our website at pgim.com/investments

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**Glossary** 

The following abbreviations are used in the Funds' descriptions:

EUR—Euro

GBP—British Pound

USD—US Dollar

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

BNP—BNP Paribas S.A.

BOA—Bank of America, N.A.

CDX—Credit Derivative Index

CGM—Citigroup Global Markets, Inc.

CLO—Collateralized Loan Obligation

CVR—Contingent Value Rights

EMTN—Euro Medium Term Note

EURIBOR—Euro Interbank Offered Rate

GMTN—Global Medium Term Note

GSI—Goldman Sachs International

HSBC—HSBC Bank PLC

iBoxx—Bond Market Indices

JPM—JPMorgan Chase Bank N.A.

JPS—J.P. Morgan Securities LLC

LIBOR—London Interbank Offered Rate

LP—Limited Partnership

MSI—Morgan Stanley & Co International PLC

MTN—Medium Term Note

OTC—Over-the-counter

PIK—Payment-in-Kind

Q—Quarterly payment frequency for swaps

REITs—Real Estate Investment Trust

SOFR—Secured Overnight Financing Rate

SONIA—Sterling Overnight Index Average

T—Swap payment upon termination

TD—The Toronto-Dominion Bank

------

**PGIM Global High Yield Fund, Inc.** 

**Schedule of Investments** (unaudited)

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **LONG-TERM INVESTMENTS 117.0%**<br>&nbsp;&nbsp; **ASSET-BACKED SECURITIES 4.0%**<br>&nbsp;&nbsp; **Cayman Islands** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Atlas Static Senior Loan Fund Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class A, 144A, 3 Month SOFR + 2.600% (Cap N/A, Floor 2.600%) | 7.258%(c) | 07/15/30 |  | 5086 | $5082298 |
| &nbsp;&nbsp; Carlyle Global Market Strategies CLO Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-01A, Class A1R2, 144A, 3 Month LIBOR + 0.970% (Cap N/A, Floor 0.970%) | 5.762(c) | 04/17/31 |  | 1994 | 1954733 |
| &nbsp;&nbsp; Madison Park Funding Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-18A, Class ARR, 144A, 3 Month LIBOR + 0.940% (Cap N/A, Floor 0.940%) | 5.755(c) | 10/21/30 |  | 4483 | 4446431 |
| &nbsp;&nbsp; Neuberger Berman CLO Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-17A, Class AR2, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 1.030%) | 5.845(c) | 04/22/29 |  | 2447 | 2431846 |
| &nbsp;&nbsp; OFSI BSL Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-12A, Class A1, 144A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— (p) | 01/20/35 |  | 2500 | 2500000 |
| &nbsp;&nbsp; Voya CLO Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-03A, Class A1R, 144A, 3 Month LIBOR + 1.190% (Cap N/A, Floor 1.190%) | 5.998(c) | 10/20/31 |  | 4900 | 4866645 |
| &nbsp;&nbsp; **TOTAL ASSET-BACKED SECURITIES**<br> (cost $21,212,100) |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21281953 |
| &nbsp;&nbsp; **CONVERTIBLE BONDS 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp; **Jamaica 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Digicel Group Holdings Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sub. Notes, 144A, Cash coupon 7.000% or PIK N/A (original cost $7,074; purchased 06/23/20 - 10/01/22)(f) | 7.000 | 02/16/23(oo) |  | 44 | 3495 |
| &nbsp;&nbsp; **Spain 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp; Cellnex Telecom SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN, Series CLNX(aa) | 0.750 | 11/20/31 | EUR | 3400 | 3068461 |
| &nbsp;&nbsp; **TOTAL CONVERTIBLE BONDS**<br> (cost $3,885,803) |  |  |  |  | 3071956 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS 87.1%**<br>&nbsp;&nbsp; **Argentina 0.1%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; YPF SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.500% | 03/23/25 | 289 | $272201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.500 | 07/28/25 | 300 | 273398 |
|  |  |  |  | 545599 |
| &nbsp;&nbsp; **Bahrain 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Oil & Gas Holding Co. BSCC (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 7.625 | 11/07/24 | 380 | 389453 |
| &nbsp;&nbsp; **Brazil 3.0%** |  |  |  |  |
| &nbsp;&nbsp; Banco do Brasil SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.875 | 01/11/29 | 1250 | 1181094 |
| &nbsp;&nbsp; Banco Votorantim SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN(aa) | 4.500 | 09/24/24 | 1120 | 1089410 |
| &nbsp;&nbsp; Embraer Netherlands Finance BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 6.950 | 01/17/28 | 2055 | 2102265 |
| &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 | 1000 | 849563 |
| &nbsp;&nbsp; JSM Global Sarl, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.750 | 10/20/30(d) | 1600 | 260000 |
| &nbsp;&nbsp; Light Servicos de Eletricidade SA/Light Energia SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.375 | 06/18/26 | 1500 | 853875 |
| &nbsp;&nbsp; MARB BondCo PLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 3.950 | 01/29/31 | 1330 | 1043724 |
| &nbsp;&nbsp; MercadoLibre, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.125 | 01/14/31 | 1326 | 1051444 |
| &nbsp;&nbsp; NBM US Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.000 | 05/14/26 | 1000 | 998657 |
| &nbsp;&nbsp; Nexa Resources SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.500 | 01/18/28 | 1000 | 987125 |
| &nbsp;&nbsp; Petrobras Global Finance BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.600 | 01/03/31 | 2370 | 2286576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.999 | 01/27/28 | 1100 | 1099340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.900 | 03/19/49 | 1140 | 1032982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 7.375 | 01/17/27 | 1240 | 1292080 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16128135 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 23

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Canada 4.2%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; 1011778 BC ULC/New Red Finance, Inc.,<br> Sec'd. Notes, 144A(aa) | 4.000% | 10/15/30 | 825 | $702281 |
| &nbsp;&nbsp; Athabasca Oil Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A(aa) | 9.750 | 11/01/26 | 1819 | 1928140 |
| &nbsp;&nbsp; Bombardier, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 02/15/28 | 1250 | 1182813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 7.125 | 06/15/26 | 1075 | 1070969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 12/01/24 | 3139 | 3199897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 03/15/25 | 239 | 239000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 02/01/29 | 1025 | 1021156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 7.875 | 04/15/27 | 2325 | 2325000 |
| &nbsp;&nbsp; Brookfield Residential Properties, Inc./Brookfield Residential US LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.875 | 02/15/30 | 1275 | 986213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 06/15/29 | 475 | 375250 |
| &nbsp;&nbsp; GFL Environmental, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.375 | 08/15/29 | 750 | 665115 |
| &nbsp;&nbsp; Hudbay Minerals, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 6.125 | 04/01/29 | 685 | 639619 |
| &nbsp;&nbsp; Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.000 | 12/31/26 | 200 | 181550 |
| &nbsp;&nbsp; Mattamy Group Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.625 | 03/01/30 | 825 | 693701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.250 | 12/15/27 | 1650 | 1509750 |
| &nbsp;&nbsp; MEG Energy Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 02/01/29 | 675 | 648000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.125 | 02/01/27 | 1027 | 1050364 |
| &nbsp;&nbsp; New Gold, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.500 | 07/15/27 | 1010 | 941825 |
| &nbsp;&nbsp; Parkland Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.500 | 10/01/29 | 1625 | 1393437 |
| &nbsp;&nbsp; Precision Drilling Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.875 | 01/15/29 | 250 | 240625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.125 | 01/15/26 | 1150 | 1138500 |
| &nbsp;&nbsp; Superior Plus LP/Superior General Partner, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.500 | 03/15/29 | 425 | 374531 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22507736 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Chile 0.4%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Mercury Chile Holdco LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.500% | 01/24/27 | 1000 | $961537 |
| &nbsp;&nbsp; VTR Comunicaciones SpA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.375 | 04/15/29 | 1000 | 660000 |
| &nbsp;&nbsp; VTR Finance NV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.375 | 07/15/28 | 705 | 291433 |
|  |  |  |  | 1912970 |
| &nbsp;&nbsp; **China 0.6%** |  |  |  |  |
| &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 | 1120 | 630000 |
| &nbsp;&nbsp; China Hongqiao Group Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.250 | 06/08/24 | 1100 | 1075800 |
| &nbsp;&nbsp; Sunac China Holdings Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 6.500 | 01/10/25(d) | 650 | 185250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 6.500 | 01/26/26(d) | 770 | 219450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 7.250 | 06/14/22(d) | 365 | 106763 |
| &nbsp;&nbsp; West China Cement Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.950 | 07/08/26 | 1143 | 1002982 |
| &nbsp;&nbsp; Yuzhou Group Holdings Co. Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 7.700 | 02/20/25(d) | 900 | 135000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 8.500 | 02/26/24(d) | 400 | 60000 |
|  |  |  |  | 3415245 |
| &nbsp;&nbsp; **Colombia 1.1%** |  |  |  |  |
| &nbsp;&nbsp; AI Candelaria Spain SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750 | 06/15/33 | 1440 | 1119600 |
| &nbsp;&nbsp; Ecopetrol SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.625 | 11/02/31 | 500 | 393775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.375 | 06/26/26 | 975 | 939096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 6.875 | 04/29/30 | 1400 | 1305122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.875 | 01/13/33 | 690 | 706422 |
| &nbsp;&nbsp; SierraCol Energy Andina LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 6.000 | 06/15/28 | 1700 | 1407499 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5871514 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 25

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Costa Rica 0.1%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Autopistas del Sol SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 7.375% | 12/30/30 |  | 306 | $281942 |
| &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 |  | 270 | 258407 |
|  |  |  |  |  | 540349 |
| &nbsp;&nbsp; **Czech Republic 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Energo-Pro A/S, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.500 | 02/04/27 |  | 700 | 662069 |
| &nbsp;&nbsp; **France 1.5%** |  |  |  |  |  |
| &nbsp;&nbsp; Casino Guichard Perrachon SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.048 | 08/05/26 | EUR | 900 | 574606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.498 | 03/07/24 | EUR | 300 | 278195 |
| &nbsp;&nbsp; Iliad Holding SASU, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.625 | 10/15/28 | EUR | 3850 | 3892541 |
| &nbsp;&nbsp; La Financiere Atalian SASU, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.000 | 05/15/24 | EUR | 1102 | 1051223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.125 | 05/15/25 | EUR | 1375 | 996530 |
| &nbsp;&nbsp; Midco GB SASU, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, Cash coupon 7.750% or PIK 8.500% | 7.750 | 11/01/27 | EUR | 1050 | 1025711 |
|  |  |  |  |  | 7818806 |
| &nbsp;&nbsp; **Germany 2.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Douglas GmbH, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.000 | 04/08/26 | EUR | 1400 | 1310504 |
| &nbsp;&nbsp; Kirk Beauty SUN GmbH, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, Cash coupon 8.250% or PIK 9.000% | 8.250 | 10/01/26 | EUR | 3201 | 2411223 |
| &nbsp;&nbsp; Nidda BondCo GmbH, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.000 | 09/30/25 | EUR | 1293 | 1304497 |
| &nbsp;&nbsp; Wintershall Dea Finance 2 BV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, Series NC8 | 3.000(ff) | 07/20/28(oo) | EUR | 1200 | 1036477 |
| &nbsp;&nbsp; Wintershall Dea Finance BV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 0.452 | 09/25/23 | EUR | 5300 | 5628730 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11691431 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Ghana 0.3%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Tullow Oil PLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 10.250% | 05/15/26 | 1915 | $1642112 |
| &nbsp;&nbsp; **Guatemala 0.4%** |  |  |  |  |
| &nbsp;&nbsp; Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.250 | 04/27/29 | 1000 | 954040 |
| &nbsp;&nbsp; CT Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.125 | 02/03/32 | 660 | 575850 |
| &nbsp;&nbsp; Millicom International Cellular SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.500 | 04/27/31 | 700 | 592550 |
|  |  |  |  | 2122440 |
| &nbsp;&nbsp; **India 2.2%** |  |  |  |  |
| &nbsp;&nbsp; ABJA Investment Co. Pte Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.950 | 07/31/24 | 651 | 646118 |
| &nbsp;&nbsp; Clean Renewable Power Mauritius Pte Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.250 | 03/25/27 | 1265 | 1129347 |
| &nbsp;&nbsp; Delhi International Airport Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.450 | 06/04/29 | 1205 | 1131043 |
| &nbsp;&nbsp; GMR Hyderabad International Airport Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes(aa) | 4.250 | 10/27/27 | 1460 | 1269105 |
| &nbsp;&nbsp; Greenko Investment Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.875 | 08/16/23 | 1000 | 978937 |
| &nbsp;&nbsp; HDFC Bank Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, 144A(aa) | 3.700(ff) | 08/25/26(oo) | 2135 | 1862787 |
| &nbsp;&nbsp; HPCL-Mittal Energy Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 5.250 | 04/28/27 | 2000 | 1860000 |
| &nbsp;&nbsp; India Cleantech Energy, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes | 4.700 | 08/10/26 | 805 | 712381 |
| &nbsp;&nbsp; Periama Holdings LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.950 | 04/19/26 | 770 | 739104 |
| &nbsp;&nbsp; Vedanta Resources Finance II PLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 13.875 | 01/21/24 | 1250 | 1105703 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11434525 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 27

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Israel 0.7%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Energean Israel Finance Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.375% | 03/30/28 |  | 2250 | $2063250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.875 | 03/30/31 |  | 500 | 448375 |
| &nbsp;&nbsp; Leviathan Bond Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.750 | 06/30/30 |  | 1110 | 1076401 |
|  |  |  |  |  | 3588026 |
| &nbsp;&nbsp; **Italy 0.5%** |  |  |  |  |  |
| &nbsp;&nbsp; Castor SpA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.000 | 02/15/29 | EUR | 2650 | 2698411 |
| &nbsp;&nbsp; **Jamaica 0.8%** |  |  |  |  |  |
| &nbsp;&nbsp; Digicel Group Holdings Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, Cash coupon 5.000% and PIK 3.000% (original cost $75,111; purchased 06/23/20 - 10/03/22)(f) | 8.000 | 04/01/25 |  | 251 | 61386 |
| &nbsp;&nbsp; Digicel International Finance Ltd./Digicel |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Holdings Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A (original cost $121,133;purchased 05/22/20)(f) | 8.000 | 12/31/26 |  | 174 | 74804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A, Cash coupon 6.000% and |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIK 7.000% (original cost $795,988; purchased 05/22/20 - 12/15/22)(f) | 13.000 | 12/31/25 |  | 866 | 432857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A (original cost $1,375,625; purchased 06/26/19)(f) | 8.750 | 05/25/24 |  | 1420 | 1219691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A (original cost $414,104; purchased 05/22/20)(f) | 8.750 | 05/25/24 |  | 436 | 374682 |
| &nbsp;&nbsp; Digicel Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A (original cost $3,456,850; purchased 03/07/19 - 06/28/19)(f) | 6.750 | 03/01/23 |  | 5020 | 1949329 |
|  |  |  |  |  | 4112749 |
| &nbsp;&nbsp; **Japan 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp; SoftBank Group Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.875 | 07/06/32 | EUR | 1400 | 1161446 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Kuwait 0.2%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Kuwait Projects Co. SPC Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.229% | 10/29/26 |  | 925 | $810127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, EMTN | 4.500 | 02/23/27 |  | 200 | 169975 |
|  |  |  |  |  | 980102 |
| &nbsp;&nbsp; **Luxembourg 1.8%** |  |  |  |  |  |
| &nbsp;&nbsp; Altice France Holding SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 8.000 | 05/15/27 | EUR | 3166 | 2800492 |
| &nbsp;&nbsp; Codere New Holdco SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A, Cash coupon N/A or PIK 7.500% (original cost $1,379,825; purchased 11/19/21 - 10/31/22)(f) | 7.500 | 11/30/27(d) | EUR | 1055 | 559429 |
| &nbsp;&nbsp; Galapagos SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 0.000(cc) | 06/15/21(d) | EUR | 315 | 1710 |
| &nbsp;&nbsp; Intelsat Jackson Holdings SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes^ | 5.500 | 08/01/23(d) |  | 2085 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A^ | 9.750 | 07/15/25(d) |  | 3355 | 3 |
| &nbsp;&nbsp; LHMC Finco 2 Sarl, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, Cash coupon 7.250% or PIK 8.000% | 7.250 | 10/02/25 | EUR | 2271 | 2265803 |
| &nbsp;&nbsp; Monitchem HoldCo 2 SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 9.500 | 09/15/26 | EUR | 545 | 560802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 9.500 | 09/15/26 | EUR | 3000 | 3086982 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9275223 |
| &nbsp;&nbsp; **Macau 0.5%** |  |  |  |  |  |
| &nbsp;&nbsp; MGM China Holdings Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.750 | 02/01/27 |  | 525 | 473156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.250 | 06/18/25 |  | 325 | 308405 |
| &nbsp;&nbsp; Wynn Macau Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.125 | 12/15/29 |  | 1000 | 828750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500 | 01/15/26 |  | 1000 | 935000 |
|  |  |  |  |  | 2545311 |
| &nbsp;&nbsp; **Malaysia 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Gohl Capital Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.250 | 01/24/27 |  | 1889 | 1735519 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 29

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Mexico 5.5%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Banco Mercantil del Norte SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes | 7.500%(ff) | 06/27/29(oo) |  | 600 | $574425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, 144A(aa) | 6.625(ff) | 01/24/32(oo) |  | 1485 | 1308935 |
| &nbsp;&nbsp; Braskem Idesa SAPI, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.450 | 11/15/29 |  | 1250 | 1026094 |
| &nbsp;&nbsp; Cemex SAB de CV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.450 | 11/19/29 |  | 930 | 893800 |
| &nbsp;&nbsp; Comision Federal de Electricidad, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.688 | 05/15/29 |  | 605 | 555201 |
| &nbsp;&nbsp; Electricidad Firme de Mexico Holdings SA de CV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.900 | 11/20/26 |  | 1000 | 896750 |
| &nbsp;&nbsp; FEL Energy VI Sarl, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750 | 12/01/40 |  | 1834 | 1590228 |
| &nbsp;&nbsp; Mexico City Airport Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes(aa) | 3.875 | 04/30/28 |  | 2230 | 2119637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 5.500 | 07/31/47 |  | 670 | 539886 |
| &nbsp;&nbsp; Nemak SAB de CV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.625 | 06/28/31 |  | 1230 | 987997 |
| &nbsp;&nbsp; Petroleos Mexicanos, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.350 | 02/12/28 |  | 2500 | 2175000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.490 | 01/23/27 |  | 3758 | 3515421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.500 | 03/13/27 |  | 2720 | 2562988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.500 | 06/02/41 |  | 2100 | 1497510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, EMTN(aa) | 2.750 | 04/21/27 | EUR | 1915 | 1734216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, MTN(aa) | 6.750 | 09/21/47 |  | 1825 | 1261531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, MTN(aa) | 6.875 | 08/04/26 |  | 3200 | 3113905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 10.000 | 02/07/33 |  | 895 | 876653 |
| &nbsp;&nbsp; Total Play Telecomunicaciones SA de CV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.375 | 09/20/28 |  | 910 | 765096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 7.500 | 11/12/25 |  | 1355 | 1263808 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29259081 |
| &nbsp;&nbsp; **Morocco 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; OCP SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.875 | 04/25/44 |  | 280 | 269500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.750 | 06/23/31 |  | 200 | 168500 |
|  |  |  |  |  | 438000 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Netherlands 1.1%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; United Group BV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 3.125% | 02/15/26 | EUR | 2900 | $2705547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 3.125 | 02/15/26 | EUR | 850 | 793005 |
| &nbsp;&nbsp; VEON Holdings BV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 3.375 | 11/25/27 |  | 920 | 625600 |
| &nbsp;&nbsp; WP/AP Telecom Holdings III BV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500 | 01/15/30 | EUR | 1917 | 1739009 |
|  |  |  |  |  | 5863161 |
| &nbsp;&nbsp; **Nigeria 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; IHS Holding Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.250 | 11/29/28 |  | 645 | 527974 |
| &nbsp;&nbsp; **Panama 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; AES Panama Generation Holdings SRL, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.375 | 05/31/30 |  | 385 | 342722 |
| &nbsp;&nbsp; **Peru 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; InRetail Consumer, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 3.250 | 03/22/28 |  | 800 | 688500 |
| &nbsp;&nbsp; Kallpa Generacion SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 4.125 | 08/16/27 |  | 1000 | 934562 |
|  |  |  |  |  | 1623062 |
| &nbsp;&nbsp; **Russia 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Alfa Bank AO Via Alfa Bond Issuance PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sub. Notes | 5.950(ff) | 04/15/30 |  | 1500 | 75937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sub. Notes, 144A | 5.950(ff) | 04/15/30 |  | 985 | 49866 |
| &nbsp;&nbsp; Sovcombank Via SovCom Capital DAC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, 144A | 7.600(ff) | 02/17/27(oo) |  | 1500 | 42188 |
|  |  |  |  |  | 167991 |
| &nbsp;&nbsp; **Saudi Arabia 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Arabian Centres Sukuk Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 11/26/24 |  | 1635 | 1596986 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 31

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **South Africa 1.8%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Eskom Holdings SOC Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gov't. Gtd. Notes, MTN(aa) | 6.350% | 08/10/28 |  | 2080 | $1989000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 7.125 | 02/11/25 |  | 1270 | 1211898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN(aa) | 6.750 | 08/06/23 |  | 1580 | 1547808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, MTN(aa) | 8.450 | 08/10/28 |  | 1240 | 1187300 |
| &nbsp;&nbsp; Sasol Financing USA LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 4.375 | 09/18/26 |  | 790 | 726329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.875 | 03/27/24 |  | 1930 | 1902883 |
| &nbsp;&nbsp; Transnet SOC Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.250 | 02/06/28 |  | 885 | 884752 |
|  |  |  |  |  | 9449970 |
| &nbsp;&nbsp; **Spain 0.7%** |  |  |  |  |  |
| &nbsp;&nbsp; Cirsa Finance International Sarl, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 6.250 | 12/20/23 | EUR | 483 | 521741 |
| &nbsp;&nbsp; Codere Finance 2 Luxembourg SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, Cash coupon 2.000% and PIK |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.750% (original cost $716,412; purchased |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 02/18/19 - 10/31/22)(f) | 12.750 | 11/30/27(d) | EUR | 673 | 364666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A, Cash coupon 2.000%and PIK 11.625% (original cost $193,321;purchased 10/18/19 - 10/31/22)(f) | 13.625 | 11/30/27(d) |  | 224 | 122525 |
| &nbsp;&nbsp; Kaixo Bondco Telecom SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.125 | 09/30/29 | EUR | 2831 | 2650382 |
|  |  |  |  |  | 3659314 |
| &nbsp;&nbsp; **Sweden 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp; Preem Holdings AB, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A (original cost |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $2,798,342; purchased 06/14/22)(f) | 12.000 | 06/30/27 | EUR | 2800 | 3200300 |
| &nbsp;&nbsp; **Switzerland 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; VistaJet Malta Finance PLC/XO Management |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Holding, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.875 | 05/01/27 |  | 800 | 776000 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Thailand 0.5%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Bangkok Bank PCL, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, 144A, MTN(aa) | 5.000%(ff) | 09/23/25(oo) |  | 3016 | $2899130 |
| &nbsp;&nbsp; **Turkey 0.8%** |  |  |  |  |  |
| &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 |  | 1140 | 942139 |
| &nbsp;&nbsp; Eldorado Gold Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.250 | 09/01/29 |  | 1200 | 1082625 |
| &nbsp;&nbsp; KOC Holding A/S, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 6.500 | 03/11/25 |  | 2000 | 1963500 |
|  |  |  |  |  | 3988264 |
| &nbsp;&nbsp; **Ukraine 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp; NAK Naftogaz Ukraine via Kondor Finance PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 7.125 | 07/19/24(d) | EUR | 1035 | 225040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.625 | 11/08/26(d) |  | 830 | 170150 |
|  |  |  |  |  | 395190 |
| &nbsp;&nbsp; **United Arab Emirates 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; DP World Salaam, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes | 6.000(ff) | 10/01/25(oo) |  | 1620 | 1621012 |
| &nbsp;&nbsp; **United Kingdom 5.9%** |  |  |  |  |  |
| &nbsp;&nbsp; Bellis Acquisition Co. PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 3.250 | 02/16/26 | GBP | 1700 | 1723724 |
| &nbsp;&nbsp; Bellis Finco PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.000 | 02/16/27 | GBP | 3300 | 2937592 |
| &nbsp;&nbsp; Bracken MidCo1 PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, Cash coupon |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.750% or PIK 7.500% | 6.750 | 11/01/27 | GBP | 2575 | 2595226 |
| &nbsp;&nbsp; eG Global Finance PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 4.375 | 02/07/25 | EUR | 3900 | 3768797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 8.500 | 10/30/25 |  | 1750 | 1645000 |
| &nbsp;&nbsp; Jerrold Finco PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.875 | 01/15/26 | GBP | 600 | 646936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 5.250 | 01/15/27 | GBP | 800 | 835868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.875 | 01/15/26 | GBP | 2250 | 2426011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.250 | 01/15/27 | GBP | 1325 | 1382886 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 33

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United Kingdom (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Motion Bondco DAC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.625% | 11/15/27 |  | 250 | $226182 |
| &nbsp;&nbsp; Saga PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.500 | 07/15/26 | GBP | 2234 | 2171191 |
| &nbsp;&nbsp; Sherwood Financing PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.000 | 11/15/26 | GBP | 3050 | 2996726 |
| &nbsp;&nbsp; TalkTalk Telecom Group Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.875 | 02/20/25 | GBP | 2600 | 2644091 |
| &nbsp;&nbsp; Very Group Funding PLC (The), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.500 | 08/01/26 | GBP | 3275 | 3078658 |
| &nbsp;&nbsp; Zenith Finco PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.500 | 06/30/27 | GBP | 2250 | 2090837 |
|  |  |  |  |  | 31169725 |
| &nbsp;&nbsp; **United States 46.8%** |  |  |  |  |  |
| &nbsp;&nbsp; ACCO Brands Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.250 | 03/15/29 |  | 1025 | 886659 |
| &nbsp;&nbsp; AdaptHealth LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 08/01/29 |  | 625 | 543781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.125 | 03/01/30 |  | 925 | 823971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 6.125 | 08/01/28 |  | 655 | 621560 |
| &nbsp;&nbsp; Aethon United BR LP/Aethon United Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 8.250 | 02/15/26 |  | 1175 | 1169304 |
| &nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.625 | 07/15/26 |  | 1740 | 1675429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 06/01/29 |  | 850 | 683269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 9.750 | 07/15/27 |  | 3150 | 3009192 |
| &nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 3.625 | 06/01/28 | EUR | 3225 | 2908284 |
| &nbsp;&nbsp; Alta Equipment Group, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 5.625 | 04/15/26 |  | 600 | 559545 |
| &nbsp;&nbsp; Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes^(aa) | 7.875 | 12/15/24(d) |  | 6450 | 43860 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; AMC Entertainment Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A, Cash coupon 10.000% or PIK 12.000% or Cash coupon 5.000% and PIK 6.000% | 10.000% | 06/15/26 | 662 | $333436 |
| &nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.750 | 04/20/29 | 1850 | 1785250 |
| &nbsp;&nbsp; American Axle & Manufacturing, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.250 | 03/15/26 | 593 | 558431 |
| &nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 5.750 | 05/20/27 | 1725 | 1625704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 5.875 | 08/20/26 | 1150 | 1110809 |
| &nbsp;&nbsp; Amsted Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.625 | 05/15/30 | 1475 | 1317872 |
| &nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 06/15/29 | 225 | 208962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.750 | 01/15/28 | 2750 | 2636886 |
| &nbsp;&nbsp; Antero Resources Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.375 | 03/01/30 | 925 | 862667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.625 | 02/01/29 | 1189 | 1217933 |
| &nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.250 | 08/15/27 | 850 | 700187 |
| &nbsp;&nbsp; Ascent Resources Utica Holdings LLC/ARU Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 9.000 | 11/01/27 | 368 | 455655 |
| &nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods Finance Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.625 | 08/01/29 | 1850 | 1543603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.625 | 04/01/30 | 600 | 501050 |
| &nbsp;&nbsp; ASP Unifrax Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.250 | 09/30/28 | 425 | 362961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 09/30/29 | 275 | 199034 |
| &nbsp;&nbsp; At Home Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.125 | 07/15/29 | 925 | 568548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.875 | 07/15/28 | 150 | 109468 |
| &nbsp;&nbsp; B&G Foods, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.250 | 09/15/27 | 2770 | 2239168 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 35

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Banff Merger Sub, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 8.375% | 09/01/26 | EUR | 5050 | $4963441 |
| &nbsp;&nbsp; Bausch Health Cos., Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 01/30/28 |  | 1450 | 646914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 02/15/29 |  | 125 | 55000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 01/30/30 |  | 2225 | 967875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 02/15/31 |  | 1600 | 728000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.250 | 02/15/29 |  | 3540 | 1619550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.000 | 01/15/28 |  | 250 | 113750 |
| &nbsp;&nbsp; Beazer Homes USA, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.875 | 10/15/27 |  | 75 | 67677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.750 | 03/15/25 |  | 1000 | 980544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.250 | 10/15/29 |  | 1650 | 1524780 |
| &nbsp;&nbsp; Boeing Co. (The), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 5.805 | 05/01/50 |  | 1780 | 1817933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.930 | 05/01/60 |  | 275 | 280485 |
| &nbsp;&nbsp; Bread Financial Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.750 | 12/15/24 |  | 900 | 816290 |
| &nbsp;&nbsp; C&S Group Enterprises LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.000 | 12/15/28 |  | 1000 | 771116 |
| &nbsp;&nbsp; Caesars Entertainment, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.000 | 02/15/30 |  | 2000 | 2038044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.625 | 10/15/29 |  | 475 | 405774 |
| &nbsp;&nbsp; Calpine Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.625 | 02/01/29 |  | 900 | 782182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.000 | 02/01/31 |  | 1375 | 1178239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.125 | 03/15/28 |  | 6425 | 5815934 |
| &nbsp;&nbsp; Camelot Return Merger Sub, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 8.750 | 08/01/28 |  | 725 | 681646 |
| &nbsp;&nbsp; CCM Merger, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.375 | 05/01/26 |  | 325 | 314373 |
| &nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 4.500 | 05/01/32 |  | 1300 | 1076583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.250 | 02/01/31 |  | 2550 | 2123870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.500 | 06/01/33 |  | 750 | 609415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.750 | 03/01/30 |  | 3050 | 2667091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 02/01/28 |  | 1000 | 933412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.375 | 06/01/29 |  | 609 | 563207 |
| &nbsp;&nbsp; Chart Industries, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 9.500 | 01/01/31 |  | 250 | 260918 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Chart Industries, Inc., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.500% | 01/01/30 | 650 | $663986 |
| &nbsp;&nbsp; Cheniere Energy, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.625 | 10/15/28 | 2550 | 2430220 |
| &nbsp;&nbsp; Chesapeake Energy Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 02/01/26 | 450 | 436973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 02/01/29 | 475 | 455036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.750 | 04/15/29 | 675 | 665893 |
| &nbsp;&nbsp; CITGO Petroleum Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.000 | 06/15/25 | 1325 | 1314403 |
| &nbsp;&nbsp; Clean Harbors, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.375 | 02/01/31 | 150 | 152802 |
| &nbsp;&nbsp; CMG Media Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.875 | 12/15/27 | 2295 | 1794299 |
| &nbsp;&nbsp; CNX Midstream Partners LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 04/15/30 | 250 | 211423 |
| &nbsp;&nbsp; CNX Resources Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.250 | 03/14/27 | 1525 | 1518137 |
| &nbsp;&nbsp; Comstock Resources, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 01/15/30 | 700 | 604065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 6.750 | 03/01/29 | 1000 | 921325 |
| &nbsp;&nbsp; Cornerstone Building Brands, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 6.125 | 01/15/29 | 550 | 411421 |
| &nbsp;&nbsp; Cornerstone Chemical Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.750 | 08/15/24 | 2103 | 1680038 |
| &nbsp;&nbsp; Crescent Energy Finance LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.250 | 02/15/28 | 175 | 174572 |
| &nbsp;&nbsp; CrownRock LP/CrownRock Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 05/01/29 | 275 | 253998 |
| &nbsp;&nbsp; CSC Holdings LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.125 | 12/01/30 | 900 | 660695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.625 | 12/01/30 | 4050 | 2395055 |
| &nbsp;&nbsp; Dana, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.250 | 09/01/30 | 450 | 381556 |
| &nbsp;&nbsp; DaVita, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 3.750 | 02/15/31 | 1075 | 835693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.625 | 06/01/30 | 2550 | 2148304 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 37

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Diamond Sports Group LLC/Diamond Sports Finance Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A (original cost $3,927,328;purchased 07/18/19 - 02/27/20)(aa)(f) | 6.625% | 08/15/27 | 4125 | $83938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A (original cost $2,387,283;purchased 07/18/19 - 07/05/22)(f) | 5.375 | 08/15/26 | 3150 | 229595 |
| &nbsp;&nbsp; DISH DBS Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.000 | 03/15/23 | 760 | 758729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.125 | 06/01/29 | 975 | 620047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.375 | 07/01/28 | 515 | 370253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.750 | 07/01/26 | 2910 | 2360668 |
| &nbsp;&nbsp; DISH Network Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 11.750 | 11/15/27 | 1100 | 1140823 |
| &nbsp;&nbsp; Diversified Healthcare Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.375 | 03/01/31 | 750 | 508880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 9.750 | 06/15/25 | 1550 | 1521136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 05/01/24 | 50 | 43409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 02/15/28 | 700 | 426180 |
| &nbsp;&nbsp; Eco Material Technologies, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.875 | 01/31/27 | 725 | 698117 |
| &nbsp;&nbsp; Embecta Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.000 | 02/15/30 | 625 | 514695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.750 | 02/15/30 | 300 | 270028 |
| &nbsp;&nbsp; Energy Transfer LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, Series G(aa) | 7.125(ff) | 05/15/30(oo) | 1275 | 1159175 |
| &nbsp;&nbsp; EQM Midstream Partners LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 6.500 | 07/01/27 | 480 | 469464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 06/01/27 | 200 | 200551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 06/01/30 | 200 | 199670 |
| &nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.750 | 01/15/30 | 1375 | 1141366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.625 | 01/15/29 | 650 | 573298 |
| &nbsp;&nbsp; Five Point Operating Co. LP/Five Point Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.875 | 11/15/25 | 1350 | 1215306 |
| &nbsp;&nbsp; Ford Motor Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.250 | 02/12/32 | 3000 | 2382258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 4.750 | 01/15/43 | 4613 | 3602715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 5.291 | 12/08/46 | 5275 | 4370462 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Ford Motor Co., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.400% | 11/01/46 | 1000 | $1031112 |
| &nbsp;&nbsp; Ford Motor Credit Co. LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.950 | 03/06/26 | 425 | 434671 |
| &nbsp;&nbsp; Forestar Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.850 | 05/15/26 | 1025 | 918784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.000 | 03/01/28 | 800 | 703134 |
| &nbsp;&nbsp; Fortress Transportation & Infrastructure Investors LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 05/01/28 | 300 | 264308 |
| &nbsp;&nbsp; Foundation Building Materials, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.000 | 03/01/29 | 550 | 442407 |
| &nbsp;&nbsp; Freedom Mortgage Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.625 | 05/01/26 | 325 | 286059 |
| &nbsp;&nbsp; Gap, Inc. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.625 | 10/01/29 | 250 | 192077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.875 | 10/01/31 | 1350 | 1010524 |
| &nbsp;&nbsp; Global Partners LP/GLP Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.875 | 01/15/29 | 450 | 424381 |
| &nbsp;&nbsp; Golden Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 7.625 | 04/15/26 | 2150 | 2163020 |
| &nbsp;&nbsp; Griffon Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.750 | 03/01/28 | 1225 | 1159854 |
| &nbsp;&nbsp; H&E Equipment Services, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 3.875 | 12/15/28 | 2150 | 1896214 |
| &nbsp;&nbsp; Hecla Mining Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.250 | 02/15/28 | 480 | 479312 |
| &nbsp;&nbsp; Hertz Corp. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 12/01/26 | 325 | 288760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 12/01/29 | 650 | 531234 |
| &nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.750 | 02/01/29 | 325 | 302344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 04/15/30 | 700 | 655097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 02/01/31 | 1325 | 1219933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 6.250 | 11/01/28 | 900 | 864080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.250 | 04/15/32 | 875 | 808144 |
| &nbsp;&nbsp; Home Point Capital, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 02/01/26 | 475 | 344417 |
| &nbsp;&nbsp; Howard Hughes Corp. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.125 | 02/01/29 | 1150 | 992345 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 39

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Howard Hughes Corp. (The), (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.375% | 02/01/31 | 800 | $665979 |
| &nbsp;&nbsp; Hunt Cos., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.250 | 04/15/29 | 1875 | 1591420 |
| &nbsp;&nbsp; International Game Technology PLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.250 | 01/15/27 | 750 | 750000 |
| &nbsp;&nbsp; Jacobs Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.750 | 02/15/29 | 600 | 559062 |
| &nbsp;&nbsp; KB Home, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.000 | 06/15/31 | 400 | 336097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.800 | 11/15/29 | 2500 | 2245727 |
| &nbsp;&nbsp; Kontoor Brands, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.125 | 11/15/29 | 325 | 280752 |
| &nbsp;&nbsp; Kraft Heinz Foods Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.500 | 06/01/50 | 2225 | 2268454 |
| &nbsp;&nbsp; LABL, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.875 | 11/01/28 | 500 | 451873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.250 | 11/01/29 | 575 | 481879 |
| &nbsp;&nbsp; LBM Acquisition LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.250 | 01/15/29 | 275 | 208939 |
| &nbsp;&nbsp; LCM Investments Holdings II LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.875 | 05/01/29 | 525 | 433252 |
| &nbsp;&nbsp; LD Holdings Group LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.125 | 04/01/28 | 825 | 537248 |
| &nbsp;&nbsp; Legacy LifePoint Health LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.750 | 04/15/25 | 600 | 584754 |
| &nbsp;&nbsp; LifePoint Health, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 01/15/29 | 1000 | 669980 |
| &nbsp;&nbsp; Likewize Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 9.750 | 10/15/25 | 790 | 746000 |
| &nbsp;&nbsp; M/I Homes, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 4.950 | 02/01/28 | 1075 | 992636 |
| &nbsp;&nbsp; Masonite International Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.500 | 02/15/30 | 400 | 330000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.375 | 02/01/28 | 405 | 379983 |
| &nbsp;&nbsp; Mauser Packaging Solutions Holding Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.875 | 08/15/26 | 750 | 756562 |
| &nbsp;&nbsp; Maxim Crane Works Holdings Capital LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 10.125 | 08/01/24 | 2029 | 1972003 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount<br>(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Medline Borrower LP, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 3.875% | 04/01/29 |  | 1200 | $1026767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.250 | 10/01/29 |  | 1575 | 1321775 |
| &nbsp;&nbsp; Metis Merger Sub LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 6.500 | 05/15/29 |  | 2250 | 1918177 |
| &nbsp;&nbsp; MGM Resorts International, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 4.750 | 10/15/28 |  | 3238 | 2934743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.750 | 06/15/25 |  | 25 | 24672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.750 | 05/01/25 |  | 875 | 880548 |
| &nbsp;&nbsp; Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 4.875 | 05/01/29 |  | 1125 | 994710 |
| &nbsp;&nbsp; MIWD Holdco II LLC/MIWD Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 02/01/30 |  | 400 | 332834 |
| &nbsp;&nbsp; MPH Acquisition Holdings LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.500 | 09/01/28 |  | 1025 | 851430 |
| &nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 2.500 | 03/24/26 | GBP | 2750 | 2669410 |
| &nbsp;&nbsp; Nabors Industries Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.250 | 01/15/26 |  | 575 | 559187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 01/15/28 |  | 1075 | 1022594 |
| &nbsp;&nbsp; Nabors Industries, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.750 | 02/01/25 |  | 1725 | 1674033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.375 | 05/15/27 |  | 925 | 926203 |
| &nbsp;&nbsp; Nationstar Mortgage Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.125 | 12/15/30 |  | 1525 | 1235424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 08/15/28 |  | 440 | 384393 |
| &nbsp;&nbsp; NCR Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.000 | 10/01/28 |  | 650 | 578185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 10/01/30 |  | 300 | 260494 |
| &nbsp;&nbsp; NESCO Holdings II, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 5.500 | 04/15/29 |  | 525 | 472465 |
| &nbsp;&nbsp; NRG Energy, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.750 | 01/15/28 |  | 1240 | 1184244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.625 | 02/15/31 |  | 175 | 138731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.875 | 02/15/32 |  | 500 | 389423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 06/15/29 |  | 1000 | 902851 |
| &nbsp;&nbsp; Occidental Petroleum Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 01/01/31 |  | 550 | 574966 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 41

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Occidental Petroleum Corp., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.375% | 09/01/28 | 1000 | $1039960 |
| &nbsp;&nbsp; OneMain Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.875 | 09/15/28 | 475 | 399892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.875 | 03/15/25 | 1567 | 1561882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.125 | 03/15/26 | 1625 | 1616094 |
| &nbsp;&nbsp; Organon & Co./Organon Foreign Debt Co-Issuer BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.125 | 04/30/31 | 275 | 247584 |
| &nbsp;&nbsp; Owens-Brockway Glass Container, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.625 | 05/13/27 | 267 | 262483 |
| &nbsp;&nbsp; P&L Development LLC/PLD Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.750 | 11/15/25 | 650 | 527782 |
| &nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.500 | 06/01/25 | 1655 | 1678136 |
| &nbsp;&nbsp; Park River Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.625 | 02/01/29 | 1350 | 940376 |
| &nbsp;&nbsp; Patrick Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 05/01/29 | 150 | 128193 |
| &nbsp;&nbsp; Penn Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.125 | 07/01/29 | 375 | 310040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.625 | 01/15/27 | 300 | 281932 |
| &nbsp;&nbsp; PennyMac Financial Services, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 10/15/25 | 1150 | 1072620 |
| &nbsp;&nbsp; PG&E Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes(aa) | 5.000 | 07/01/28 | 590 | 551940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes(aa) | 5.250 | 07/01/30 | 2725 | 2510970 |
| &nbsp;&nbsp; Pilgrim's Pride Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.875 | 09/30/27 | 3925 | 3893027 |
| &nbsp;&nbsp; PM General Purchaser LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 9.500 | 10/01/28 | 1000 | 764950 |
| &nbsp;&nbsp; Post Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 12/15/29 | 354 | 328456 |
| &nbsp;&nbsp; Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 09/01/31 | 1250 | 871571 |
| &nbsp;&nbsp; Prime Healthcare Services, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.250 | 11/01/25 | 1425 | 1260545 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| **Principal <br>Amount<br>(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Radiate Holdco LLC/Radiate Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 4.500% | 09/15/26 | 1000 | $765983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 6.500 | 09/15/28 | 1525 | 793754 |
| &nbsp;&nbsp; Rain CII Carbon LLC/CII Carbon Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A(aa) | 7.250 | 04/01/25 | 1470 | 1385765 |
| &nbsp;&nbsp; Range Resources Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 02/15/30 | 325 | 292284 |
| &nbsp;&nbsp; RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 9.750 | 12/01/26 | 750 | 656944 |
| &nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.625 | 03/01/29 | 400 | 337516 |
| &nbsp;&nbsp; Scientific Games Holdings LP/Scientific Games |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; US FinCo, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.625 | 03/01/30 | 900 | 802393 |
| &nbsp;&nbsp; Scientific Games International, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.625 | 07/01/25 | 900 | 923008 |
| &nbsp;&nbsp; Scotts Miracle-Gro Co. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.000 | 04/01/31 | 1450 | 1177577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.375 | 02/01/32 | 425 | 347441 |
| &nbsp;&nbsp; Sealed Air Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.125 | 02/01/28 | 175 | 176631 |
| &nbsp;&nbsp; Shea Homes LP/Shea Homes Funding Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 04/01/29 | 1035 | 902225 |
| &nbsp;&nbsp; Smyrna Ready Mix Concrete LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.000 | 11/01/28 | 1575 | 1433685 |
| &nbsp;&nbsp; Southwestern Energy Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.750 | 02/01/32 | 250 | 220360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.375 | 03/15/30 | 1275 | 1188178 |
| &nbsp;&nbsp; Sprint LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 7.125 | 06/15/24 | 2500 | 2555872 |
| &nbsp;&nbsp; SRS Distribution, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.000 | 12/01/29 | 825 | 705488 |
| &nbsp;&nbsp; Standard Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.375 | 01/15/31 | 1000 | 795561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.375 | 07/15/30 | 1050 | 900254 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 43

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| **Principal <br>Amount<br>(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.875% | 05/15/25 | 325 | $305893 |
| &nbsp;&nbsp; Sunoco LP/Sunoco Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.500 | 05/15/29 | 700 | 634604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.500 | 04/30/30 | 850 | 757689 |
| &nbsp;&nbsp; SWF Escrow Issuer Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.500 | 10/01/29 | 1600 | 1050608 |
| &nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.500 | 01/15/28 | 3238 | 2984133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.000 | 12/31/30 | 150 | 136627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 10/01/25 | 225 | 228418 |
| &nbsp;&nbsp; Taylor Morrison Communities, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 06/15/27 | 625 | 614773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.125 | 08/01/30 | 1675 | 1531112 |
| &nbsp;&nbsp; Tempo Acquisition LLC/Tempo Acquisition Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750 | 06/01/25 | 425 | 429156 |
| &nbsp;&nbsp; Tenet Healthcare Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.125 | 10/01/28 | 125 | 116414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes(aa) | 4.250 | 06/01/29 | 1425 | 1267854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.375 | 01/15/30 | 1875 | 1668756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 6.875 | 11/15/31 | 525 | 485015 |
| &nbsp;&nbsp; TopBuild Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.125 | 02/15/32 | 500 | 424128 |
| &nbsp;&nbsp; TPC Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 13.000 | 12/16/27 | 636 | 650734 |
| &nbsp;&nbsp; TransDigm, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.625 | 01/15/29 | 700 | 631900 |
| &nbsp;&nbsp; Transocean, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.000 | 02/01/27 | 150 | 137625 |
| &nbsp;&nbsp; Tri Pointe Homes, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.700 | 06/15/28 | 745 | 698953 |
| &nbsp;&nbsp; TriMas Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.125 | 04/15/29 | 1200 | 1068039 |
| &nbsp;&nbsp; United Rentals North America, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.750 | 01/15/32 | 675 | 583656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.875 | 02/15/31 | 477 | 422300 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount<br>(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; United Rentals North America, Inc., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.250% | 01/15/30 | 1200 | $1161382 |
| &nbsp;&nbsp; Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.875 | 02/15/25 | 3565 | 3517633 |
| &nbsp;&nbsp; Univision Communications, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 4.500 | 05/01/29 | 475 | 408600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 6.625 | 06/01/27 | 4475 | 4384384 |
| &nbsp;&nbsp; Valvoline, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.250 | 02/15/30 | 550 | 540919 |
| &nbsp;&nbsp; Vector Group Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.750 | 02/01/29 | 3050 | 2662093 |
| &nbsp;&nbsp; Venator Finance Sarl/Venator Materials LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.750 | 07/15/25 | 317 | 110950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 9.500 | 07/01/25 | 750 | 592500 |
| &nbsp;&nbsp; Venture Global Calcasieu Pass LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 3.875 | 08/15/29 | 645 | 575351 |
| &nbsp;&nbsp; Viking Cruises Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 09/15/27 | 400 | 340000 |
| &nbsp;&nbsp; Viking Ocean Cruises Ship VII Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.625 | 02/15/29 | 250 | 213750 |
| &nbsp;&nbsp; Vista Outdoor, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.500 | 03/15/29 | 550 | 445460 |
| &nbsp;&nbsp; Vistra Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, 144A | 7.000(ff) | 12/15/26(oo) | 750 | 706022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, 144A(aa) | 8.000(ff) | 10/15/26(oo) | 1375 | 1346792 |
| &nbsp;&nbsp; Vistra Operations Co. LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.375 | 05/01/29 | 1375 | 1210295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.000 | 07/31/27 | 1330 | 1251000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.625 | 02/15/27 | 2000 | 1938050 |
| &nbsp;&nbsp; White Cap Buyer LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.875 | 10/15/28 | 525 | 480732 |
| &nbsp;&nbsp; William Carter Co. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.625 | 03/15/27 | 1350 | 1317217 |
| &nbsp;&nbsp; Wolverine World Wide, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.000 | 08/15/29 | 1600 | 1285402 |
| &nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.125 | 10/01/29 | 610 | 544294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.750 | 04/15/25 | 275 | 275932 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 45

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount<br>(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **United States (cont'd.)** | **Interest <br>Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; XPO Escrow Sub LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500% | 11/15/27 |  | 275 | $282611 |
| &nbsp;&nbsp; Zayo Group Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.000 | 03/01/27 |  | 500 | 397411 |
|  |  |  |  |  | 248376767 |
| &nbsp;&nbsp; **Vietnam 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Mong Duong Finance Holdings BV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.125 | 05/07/29 |  | 1530 | 1360552 |
| &nbsp;&nbsp; **Zambia 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; First Quantum Minerals Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.500 | 04/01/25 |  | 2245 | 2211437 |
| &nbsp;&nbsp; **TOTAL CORPORATE BONDS**<br> (cost $546,421,668) |  |  |  |  | 461705809 |
| &nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS 4.5%** |  |  |  |  |  |
| &nbsp;&nbsp; **Luxembourg 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Intelsat Jackson Holdings SA, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term B Loan, 6 Month SOFR + 4.500% | 7.445(c) | 02/01/29 |  | 1220 | 1198768 |
| &nbsp;&nbsp; **Saint Lucia 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Digicel International Finance Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Initial Term B Loan, 1 Month LIBOR + 3.250% | 7.797(c) | 05/27/24 |  | 2417 | 2040446 |
| &nbsp;&nbsp; **United Kingdom 1.8%** |  |  |  |  |  |
| &nbsp;&nbsp; CD&R Firefly Bidco Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, SONIA + 8.356% | 11.784(c) | 06/19/26 | GBP | 4500 | 5090130 |
| &nbsp;&nbsp; Constellation Automotive Group Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Facility 1 Loan, SONIA + 7.500% | 9.190(c) | 07/27/29 | GBP | 3000 | 1511783 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount<br>(000)#** | |
| **Description**<br>&nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS (Continued)**<br>&nbsp;&nbsp; **United Kingdom (cont'd.)** | **Interest <br>Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; EG America LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Project Becker Additional Facility, 3 Month LIBOR + 4.250% | 8.980%(c) | 03/31/26 |  | 407 | $392160 |
| &nbsp;&nbsp; EG Group Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Additional Second Lien Loan Facility, 6 Month EURIBOR + 7.000% | 9.752(c) | 04/30/27 | EUR | 2800 | 2633077 |
|  |  |  |  |  | 9627150 |
| &nbsp;&nbsp; **United States 2.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Ascent Resources Utica Holdings LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien Term Loan, 3 Month LIBOR + 9.000% | 12.941(c) | 11/01/25 |  | 3610 | 3826600 |
| &nbsp;&nbsp; CSC Holdings LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Refinancing Term Loan, 1 Month SOFR + 4.500% | 8.222(c) | 01/14/28 |  | 2246 | 2126553 |
| &nbsp;&nbsp; Diamond Sports Group LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Term Loan, 6 Month SOFR + 8.250% Second Lien Term loan, 1 Month SOFR + | 12.775(c) | 05/25/26 |  | 260 | 233743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.400% | 8.025(c) | 08/24/26 |  | 265 | 21884 |
| &nbsp;&nbsp; Finastra USA, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dollar Term Loan (Second Lien), 3 Month LIBOR + 7.290% | 12.115(c) | 06/13/25 |  | 1175 | 919857 |
| &nbsp;&nbsp; Great Outdoors Group LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term B-2 Loan, 1 Month LIBOR + 3.750% | 8.320(c) | 03/06/28 |  | 1470 | 1443494 |
| &nbsp;&nbsp; Heritage Power LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 3 Month LIBOR + 6.000% | 10.415(c) | 07/30/26 |  | 2470 | 806736 |
| &nbsp;&nbsp; MLN US Holdco LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 6 Month SOFR + 6.440% | 10.894(c) | 10/18/27 |  | 27 | 25795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 6 Month SOFR + 6.700%^ | 11.154(c) | 10/18/27 |  | 61 | 42923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan^ | 13.704(cc) | 10/18/27 |  | 4 | 2960 |
| &nbsp;&nbsp; Skillsoft Finance II, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 1 Month SOFR + 5.250% | 9.761(c) | 07/14/28 |  | 1422 | 1213235 |
|  |  |  |  |  | 10663780 |
| &nbsp;&nbsp; **TOTAL FLOATING RATE AND OTHER LOANS**<br> (cost $30,371,526) |  |  |  |  | 23530144 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 47

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **SOVEREIGN BONDS 19.2%**<br>&nbsp;&nbsp; **Angola 1.0%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &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 |  | 2780 | $2620150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.500 | 11/12/25 |  | 2245 | 2343219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 8.000 | 11/26/29 |  | 650 | 602875 |
|  |  |  |  |  | 5566244 |
| &nbsp;&nbsp; **Argentina 2.5%** |  |  |  |  |  |
| &nbsp;&nbsp; Argentine Republic Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 0.500(cc) | 07/09/30 |  | 15126 | 5354565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.000 | 07/09/29 |  | 1237 | 421895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.500(cc) | 07/09/35 |  | 1864 | 574007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.875(cc) | 01/09/38 |  | 14099 | 5153185 |
| &nbsp;&nbsp; Provincia de Buenos Aires, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 5.250(cc) | 09/01/37 |  | 4304 | 1689435 |
|  |  |  |  |  | 13193087 |
| &nbsp;&nbsp; **Bahrain 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Bahrain Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 6.750 | 09/20/29 |  | 1240 | 1244650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.000 | 10/12/28 |  | 430 | 443518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.500 | 09/20/47 |  | 421 | 389951 |
|  |  |  |  |  | 2078119 |
| &nbsp;&nbsp; **Brazil 1.5%** |  |  |  |  |  |
| &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 |  | 3960 | 3499155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.500 | 05/30/29 |  | 3170 | 2998226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 5.625 | 01/07/41 |  | 1500 | 1319812 |
|  |  |  |  |  | 7817193 |
| &nbsp;&nbsp; **Cameroon 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Republic of Cameroon International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.950 | 07/07/32 | EUR | 290 | 239371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.500 | 11/19/25 |  | 1080 | 1038353 |
|  |  |  |  |  | 1277724 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **SOVEREIGN BONDS (Continued)**<br>&nbsp;&nbsp; **Colombia 1.5%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &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 |  | 2900 | $2254750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 3.875 | 04/25/27 |  | 1290 | 1167692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 4.500 | 03/15/29 |  | 1550 | 1367681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 01/18/41 |  | 2645 | 2180141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.375 | 09/18/37 |  | 780 | 756990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.500 | 02/02/34 |  | 430 | 425485 |
|  |  |  |  |  | 8152739 |
| &nbsp;&nbsp; **Dominican Republic 1.7%** |  |  |  |  |  |
| &nbsp;&nbsp; Dominican Republic International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500 | 01/27/25 |  | 1225 | 1218722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.950 | 01/25/27 |  | 3000 | 2989313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.850 | 01/27/45 |  | 1840 | 1682795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.450 | 04/30/44 |  | 2300 | 2240056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.875 | 01/30/60 |  | 855 | 655838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.050 | 02/03/31 |  | 320 | 320000 |
|  |  |  |  |  | 9106724 |
| &nbsp;&nbsp; **Ecuador 0.5%** |  |  |  |  |  |
| &nbsp;&nbsp; Ecuador Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500(cc) | 07/31/30 |  | 720 | 477810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 1.500(cc) | 07/31/40 |  | 901 | 377639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 2.500(cc) | 07/31/35 |  | 1829 | 887893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500(cc) | 07/31/30 |  | 786 | 521410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.583(s) | 07/31/30 |  | 414 | 175943 |
|  |  |  |  |  | 2440695 |
| &nbsp;&nbsp; **Egypt 1.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Egypt Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.875 | 06/11/25 |  | 500 | 458750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, MTN | 6.375 | 04/11/31 | EUR | 1845 | 1404054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.750 | 04/11/25 | EUR | 1050 | 1010234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 4.750 | 04/16/26 | EUR | 2240 | 2021229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 5.625 | 04/16/30 | EUR | 860 | 654465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, MTN | 5.800 | 09/30/27 |  | 335 | 278050 |
|  |  |  |  |  | 5826782 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 49

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **SOVEREIGN BONDS (Continued)**<br>&nbsp;&nbsp; **El Salvador 0.1%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; El Salvador Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.250% | 04/10/32 | 1000 | $510500 |
| &nbsp;&nbsp; **Gabon 0.5%** |  |  |  |  |
| &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 | 340 | 284070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.950 | 06/16/25 | 1220 | 1180350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.625 | 02/06/31 | 650 | 543075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.000 | 11/24/31 | 540 | 454950 |
|  |  |  |  | 2462445 |
| &nbsp;&nbsp; **Ghana 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Ghana Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.875 | 03/26/27(d) | 930 | 353400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.125 | 01/18/26(d) | 390 | 154050 |
|  |  |  |  | 507450 |
| &nbsp;&nbsp; **Guatemala 0.3%** |  |  |  |  |
| &nbsp;&nbsp; Guatemala Government Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.375 | 06/05/27 | 1140 | 1084995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.900 | 06/01/30 | 450 | 428710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 06/01/50 | 300 | 291431 |
|  |  |  |  | 1805136 |
| &nbsp;&nbsp; **Honduras 0.2%** |  |  |  |  |
| &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 | 930 | 821481 |
| &nbsp;&nbsp; **Iraq 0.7%** |  |  |  |  |
| &nbsp;&nbsp; Iraq International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.800 | 01/15/28 | 741 | 684523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.752 | 03/09/23 | 2975 | 2948597 |
|  |  |  |  | 3633120 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **SOVEREIGN BONDS (Continued)**<br>&nbsp;&nbsp; **Ivory Coast 1.0%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | **Value**<br>|
| &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 | 270 | $229320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.250 | 03/22/30 | EUR | 1910 | 1752010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.875 | 10/17/31 | EUR | 1245 | 1133558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.875 | 10/17/40 | EUR | 2405 | 2000166 |
|  |  |  |  |  | 5115054 |
| &nbsp;&nbsp; **Lebanon 0.0%** |  |  |  |  |  |
| &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) |  | 2000 | 125000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, GMTN | 6.250 | 05/27/22(d) |  | 2550 | 163837 |
|  |  |  |  |  | 288837 |
| &nbsp;&nbsp; **Mongolia 0.0%** |  |  |  |  |  |
| &nbsp;&nbsp; Mongolia Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 8.750 | 03/09/24 |  | 270 | 270641 |
| &nbsp;&nbsp; **Morocco 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Morocco Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 1.500 | 11/27/31 | EUR | 860 | 696537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 2.000 | 09/30/30 | EUR | 1150 | 1017369 |
|  |  |  |  |  | 1713906 |
| &nbsp;&nbsp; **Mozambique 0.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Mozambique International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unsec'd. Notes | 5.000(cc) | 09/15/31 |  | 2295 | 1825672 |
| &nbsp;&nbsp; **Nigeria 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Nigeria Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.875 | 02/16/32 |  | 920 | 694600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 6.500 | 11/28/27 |  | 450 | 369000 |
|  |  |  |  |  | 1063600 |
| &nbsp;&nbsp; **Oman 0.8%** |  |  |  |  |  |
| &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 |  | 830 | 810962 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 51

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **SOVEREIGN BONDS (Continued)**<br>&nbsp;&nbsp; **Oman (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Oman Government International Bond, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.625% | 01/17/28 |  | 1085 | $1089611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.500 | 03/08/47 |  | 1120 | 1068200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.750 | 01/17/48 |  | 720 | 706500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.375 | 10/28/32 |  | 440 | 490133 |
|  |  |  |  |  | 4165406 |
| &nbsp;&nbsp; **Pakistan 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Pakistan Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.250 | 04/15/24 |  | 1840 | 1035202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.250 | 09/30/25 |  | 290 | 147932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.250 | 04/15/24 |  | 530 | 298183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.250 | 09/30/25 |  | 610 | 311167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, EMTN | 7.375 | 04/08/31 |  | 660 | 270673 |
|  |  |  |  |  | 2063157 |
| &nbsp;&nbsp; **Paraguay 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp; Paraguay Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.100 | 08/11/44 |  | 950 | 939194 |
| &nbsp;&nbsp; **Romania 0.7%** |  |  |  |  |  |
| &nbsp;&nbsp; Romanian Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.125 | 01/17/33 |  | 3374 | 3576440 |
| &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 | 875 | 837106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.375 | 06/08/37 | EUR | 275 | 209276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.375 | 06/08/37 | EUR | 570 | 433773 |
|  |  |  |  |  | 1480155 |
| &nbsp;&nbsp; **Serbia 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Serbia International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.125 | 05/15/27 | EUR | 810 | 784992 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &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;**Principal** <br> **Amount**<br> **(000)#** | |
| **Description**<br>&nbsp;&nbsp; **SOVEREIGN BONDS (Continued)**<br>&nbsp;&nbsp; **Serbia (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Serbia International Bond, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.250% | 05/26/28 |  | 500 | $508750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.500 | 09/26/33 |  | 660 | 664950 |
|  |  |  |  |  | 1958692 |
| &nbsp;&nbsp; **South Africa 0.5%** |  |  |  |  |  |
| &nbsp;&nbsp; Republic of South Africa Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.850 | 09/30/29 |  | 1690 | 1537900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.750 | 09/30/49 |  | 600 | 456000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.300 | 04/20/52 |  | 580 | 522000 |
|  |  |  |  |  | 2515900 |
| &nbsp;&nbsp; **Turkey 1.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Turkey Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 4.250 | 04/14/26 |  | 1750 | 1544375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 4.875 | 10/09/26 |  | 3000 | 2647500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 5.600 | 11/14/24 |  | 1390 | 1334400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.950 | 01/15/31 |  | 495 | 407138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 6.000 | 03/25/27 |  | 525 | 476437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 6.375 | 10/14/25 |  | 1245 | 1185862 |
|  |  |  |  |  | 7595712 |
| &nbsp;&nbsp; **Ukraine 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Ukraine Government International Bond, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.375 | 01/27/32(d) | EUR | 605 | 121679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.750 | 06/20/28(d) | EUR | 1230 | 251393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 09/01/24(d) |  | 320 | 78260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 09/01/25(d) |  | 260 | 59361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 09/01/26(d) |  | 590 | 126776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 09/01/27(d) |  | 1005 | 214379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 09/01/28(d) |  | 910 | 197470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.750 | 09/01/29(d) |  | 1180 | 259453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.994 | 02/01/26(d) |  | 400 | 90075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 9.750 | 11/01/30(d) |  | 3075 | 667467 |
|  |  |  |  |  | 2066313 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 53

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **SOVEREIGN BONDS (Continued)**<br>&nbsp;&nbsp; **Zambia 0.0%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> **Amount**<br> **(000)#**<br>| **Value**<br>|
| &nbsp;&nbsp; Zambia Government International Bond, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.500% | 04/14/24(d) | 340 | $171275 |
| &nbsp;&nbsp; **TOTAL SOVEREIGN BONDS**<br> (cost $135,768,172) |  |  |  | 102009393 |
|  |  |  | **Shares** |  |
| &nbsp;&nbsp; **COMMON STOCKS 1.6%** |  |  |  |  |
| &nbsp;&nbsp; **Luxembourg 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Intelsat Emergence SA\* |  |  | 51374 | 1211579 |
| &nbsp;&nbsp; **Spain 0.0%** |  |  |  |  |
| &nbsp;&nbsp; Codere New Topco SA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (original Cost $0; purchased 11/19/21)^(f) |  |  | 36655 |  |
| &nbsp;&nbsp; **United States 1.4%** |  |  |  |  |
| &nbsp;&nbsp; CEC Entertainment, Inc. |  |  | 34226 | 513390 |
| &nbsp;&nbsp; Chesapeake Energy Corp. |  |  | 33960 | 2945011 |
| &nbsp;&nbsp; Ferrellgas Partners LP (Class B Stock)^ |  |  | 8479 | 1591351 |
| &nbsp;&nbsp; GenOn Energy Holdings, Inc. (Class A Stock)<br>(original cost $1,545,243; purchased 02/28/19)^(f) |  |  | 14397 | 1439700 |
| &nbsp;&nbsp; TPC Group, Inc.\*^ |  |  | 48777 | 975540 |
|  |  |  |  | 7464992 |
| &nbsp;&nbsp; **TOTAL COMMON STOCKS**<br> (cost $4,420,573) |  |  |  | 8676571 |
| &nbsp;&nbsp; **RIGHTS\* 0.0%** |  |  |  |  |
| &nbsp;&nbsp; **Luxembourg** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings SA, Series A (Luxembourg) CVR,expiring 12/05/25^ |  |  | 5379 | 51266 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | |
|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **RIGHTS (Continued)\***<br>&nbsp;&nbsp; **Luxembourg (cont'd.)** | **Shares**<br>| **Value**<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings SA, Series B (Luxembourg) CVR,expiring 12/05/25^ | 5379 | $10648 |
| &nbsp;&nbsp; **TOTAL RIGHTS**<br> (cost $0) |  | 61914 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS**<br> (cost $742,079,842) |  | 620337740 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENT 1.6%** |  |  |
| &nbsp;&nbsp; **UNAFFILIATED FUND** |  |  |
| &nbsp;&nbsp; Dreyfus Government Cash Management (Institutional Shares)<br> (cost $8,623,913) | 8623913 | 8623913 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 118.6%**<br> (cost $750,703,755) |  | 628961653 |
| &nbsp;&nbsp; Liabilities in excess of other assets(z) (18.6)% |  | (98619010) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530342643 |

---

------

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. 

---

| | |
|:---|:---|
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $4,158,253 and 0.8% of net assets.  |

---

(aa) Represents security, or a portion thereof, with aggregate value of $245,407,702 segregated as collateral for amount of
$105,000,000 borrowed and outstanding as of January 31, 2023.

(c) Variable rate instrument. The interest rate shown reflects the rate in effect at January 31, 2023.

(cc) Variable rate instrument. The rate shown is based on the latest available information as of January 31, 2023. 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.

(f) Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an
affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $19,193,639. The aggregate value of $10,116,397 is 1.9% of net assets.

(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified
date. Rate shown is the rate in effect as of period end.

(oo) Perpetual security. Maturity date represents next call date.

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

(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 55

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

(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 January 31, 2023:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | 5 Year U.S. Treasury Notes | Mar. 2023 | $2403328 | $4442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36 | 10 Year U.S. Treasury Notes | Mar. 2023 | 4122563 | 7265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 | 20 Year U.S. Treasury Bonds | Mar. 2023 | 1948125 | 448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14 | 30 Year U.S. Ultra Treasury Bonds | Mar. 2023 | 1984500 | (1333) |
|  |  |  |  | $10822 |

---

**Forward foreign currency exchange contracts outstanding at January 31, 2023:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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:** |  |  |  |  |
|  British Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Expiring 02/02/23 | BNP | GBP | 29674 | $36576415 | $36585580 | $9165 | $— |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Expiring 02/02/23 | JPM | EUR | 74529 | 81299421 | 81036063 |  | (263358) |
|  |  |  |  | $117875836 | $117621643 | 9165 | (263358) |
| **Sale**<br> **Contracts** | **Counterparty** | **Notional<br>Amount**<br>**(000)** | **Notional<br>Amount**<br>**(000)** | **Value at<br>Settlement<br>Date** | **Current**<br>**Value** | **Unrealized<br>Appreciation** | **Unrealized<br>Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |  |  |
|  British Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | MSI | GBP | 29674 | $35566835 | $36585580 | $— | $(1018745) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 03/02/23 | BNP | GBP | 29674 | 36598819 | 36606445 |  | (7626) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 03/02/23 | HSBC | GBP | 1209 | 1489346 | 1491478 |  | (2132) |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | BOA | EUR | 1161 | 1234335 | 1262770 |  | (28435) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | JPM | EUR | 73368 | 77216473 | 79773293 |  | (2556820) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 03/02/23 | HSBC | EUR | 3336 | 3629464 | 3633107 |  | (3643) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 03/02/23 | JPM | EUR | 74529 | 81448703 | 81171380 | 277323 |  |
|  |  |  |  | $237183975 | $240524053 | 277323 | (3617401) |
|  |  |  |  |  |  | $286488 | $(3880759) |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

**Credit default swap agreement outstanding at January 31, 2023:** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination<br>Date** | **Fixed**<br> **Rate** | **Notional<br>Amount<br>(000)#(3)** | **Value at**<br>**Trade Date** | **Value at<br>January 31,<br>2023** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** |
|  CDX.NA.HY.39.V1 | 12/20/27 | 5.000%(Q) | 1205 | $(31562) | $(40436) | $(8874) |

---

The Fund entered into credit default swaps ("CDS") to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer's default or the reference entity's credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.

(1) If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of
that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced
index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(2) If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms
of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced
index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(3) Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection
or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap
agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit
spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's
credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement.

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 57

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

**Total return swap agreements outstanding at January 31, 2023:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity**  | **Financing**<br> **Rate** | **Counterparty** | **Termination<br>Date** | **Long<br>(Short)<br>Notional<br>Amount<br>(000)#(1)** | **Fair<br>Value** | **Upfront<br>Premiums<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)(2)** |
|  **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** |  |  |  |  |  |
|  iBoxx USD Investment Grade Index(T) | 1 Day SOFR(Q)/ 4.310% | BNP | 06/20/23 | (5175) | $(11378) | $— | $(11378) |
|  iBoxx USD Investment Grade Index(T) | 1 Day SOFR(Q)/ 4.310% | BNP | 09/20/23 | (5175) | (14863) |  | (14863) |
|  |  |  |  |  | $(26241) | $— | $(26241) |

---

(1) On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments
for any negative return) and pays the financing rate. On a short total return swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate.

(2) Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation).

**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 | $— | $— | $— | $(26241) |

---

**<u>Summary of Collateral for Centrally Cleared/Exchange-traded Derivatives:</u>** 

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** |
|  CGM | $545000 | $— |
|  JPS | 410000 |  |
|  **Total** | $955000 | $— |

---

**<u>Fair Value Measurements:</u>** 

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.

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

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 January 31, 2023 in valuing such portfolio securities:

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities** |  |  |  |
|  **Assets** |  |  |  |
|  **Long-Term Investments** |  |  |  |
|  Asset-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cayman Islands | $— | $21281953 | $— |
|  Convertible Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jamaica |  | 3495 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain |  | 3068461 |  |
|  Corporate Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Argentina |  | 545599 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bahrain |  | 389453 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil |  | 16128135 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada |  | 22507736 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Chile |  | 1912970 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; China |  | 3415245 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Colombia |  | 5871514 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Costa Rica |  | 540349 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Czech Republic |  | 662069 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; France |  | 7818806 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany |  | 11691431 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ghana |  | 1642112 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Guatemala |  | 2122440 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; India |  | 11434525 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Israel |  | 3588026 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Italy |  | 2698411 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Jamaica |  | 4112749 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan |  | 1161446 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Kuwait |  | 980102 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxembourg |  | 9275218 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp; Macau |  | 2545311 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Malaysia |  | 1735519 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico |  | 29259081 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Morocco |  | 438000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands |  | 5863161 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Nigeria |  | 527974 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Panama |  | 342722 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Peru |  | 1623062 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Russia |  | 167991 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Saudi Arabia |  | 1596986 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South Africa |  | 9449970 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain |  | 3659314 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweden |  | 3200300 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland |  | 776000 |  |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 59

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities (continued)** |  |  |  |
|  **Assets (continued)** |  |  |  |
|  **Long-Term Investments (continued)** |  |  |  |
|  Corporate Bonds (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Thailand | $— | $2899130 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkey |  | 3988264 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ukraine |  | 395190 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates |  | 1621012 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom |  | 31169725 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States |  | 248332907 | 43860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Vietnam |  | 1360552 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zambia |  | 2211437 |  |
|  Floating Rate and other Loans |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxembourg |  | 1198768 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Saint Lucia |  | 2040446 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom |  | 9627150 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States |  | 10617897 | 45883 |
|  Sovereign Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Angola |  | 5566244 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Argentina |  | 13193087 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bahrain |  | 2078119 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil |  | 7817193 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cameroon |  | 1277724 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Colombia |  | 8152739 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dominican Republic |  | 9106724 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ecuador |  | 2440695 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Egypt |  | 5826782 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; El Salvador |  | 510500 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Gabon |  | 2462445 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ghana |  | 507450 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Guatemala |  | 1805136 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Honduras |  | 821481 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Iraq |  | 3633120 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Ivory Coast |  | 5115054 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Lebanon |  | 288837 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mongolia |  | 270641 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Morocco |  | 1713906 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mozambique |  | 1825672 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Nigeria |  | 1063600 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Oman |  | 4165406 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Pakistan |  | 2063157 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Paraguay |  | 939194 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Romania |  | 3576440 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Senegal |  | 1480155 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Serbia |  | 1958692 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; South Africa |  | 2515900 |  |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities (continued)** |  |  |  |
|  **Assets (continued)** |  |  |  |
|  **Long-Term Investments (continued)** |  |  |  |
|  Sovereign Bonds (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Turkey | $— | $7595712 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp; Ukraine |  | 2066313 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Zambia |  | 171275 |  |
|  Common Stocks |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxembourg |  | 1211579 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 2945011 | 513390 | 4006591 |
|  Rights |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Luxembourg |  |  | 61914 |
|  **Short-Term Investment** |  |  |  |
|  Unaffiliated Fund | 8623913 |  |  |
|  **Total** | $**11568924** | $**613234476** | $**4158253** |
|  **Other Financial Instruments\*** |  |  |  |
|  **Assets** |  |  |  |
|  Futures Contracts | $12155 | $— | $— |
|  OTC Forward Foreign Currency Exchange Contracts |  | 286488 |  |
|  **Total** | $**12155** | $**286488** | $**—** |
|  **Liabilities** |  |  |  |
|  Futures Contracts | $(1333) | $— | $— |
|  OTC Forward Foreign Currency Exchange Contracts |  | (3880759) |  |
|  Centrally Cleared Credit Default Swap Agreement |  | (8874) |  |
|  OTC Total Return Swap Agreements |  | (26241) |  |
|  **Total** | $**(1333)** | $**(3915874)** | $**—** |

---

------

\* 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 the unrealized appreciation (depreciation) on the instrument, and OTC swap contracts which are recorded at fair value. 

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 61

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Corporate**<br>**Bonds** | **Floating Rate**<br>**and**<br>**other Loans** | **Common**<br>**Stocks** | **Rights** | **Warrants** | **Unfunded**<br> **loan**<br> **commitment** |
|  **Balance as of 07/31/22** | $43865 | $5055888 | $1583670 | $61914 | $103 | $— |
|  Realized gain (loss) |  |  | 519807 |  |  |  |
|  Change in unrealized appreciation (depreciation) | (248126) | 1227 | 766918 |  | (103) |  |
|  Purchases/Exchanges/Issuances |  | 43096 | 528485 |  |  |  |
|  Sales/Paydowns |  | (123798) | (2496761) |  |  |  |
|  Accrued discount/premium | 248126 | 1560 |  |  |  |  |
|  Transfers into Level 3\* |  |  | 3104472 |  |  |  |
|  Transfers out of Level 3\* |  | (4932090) |  |  |  |  |
|  **Balance as of 01/31/23** | $43865 | $45883 | $4006591 | $61914 | $— | $— |
|  Change in unrealized appreciation (depreciation) relating to securities still held at reporting period end | $(248126) | $1218 | $766918 | $— | $— | $— |

---

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Level 3**<br> **Securities\*\*** | **Fair Value as of**<br> **January 31, 2023** | **Valuation**<br> **Approach** | **Valuation**<br> **Methodology** | **Unobservable**<br> **Inputs** |
|  Corporate Bonds | $43860 | Market | Transaction Based | Unadjusted Last Traded Price |
|  Corporate Bonds | 5 | Market | Contingent Value Transaction | Contingent Value |
|  Common Stocks | 1591351 | Market | Based/Broker Quote | Allocation Rate |
|  Common Stocks | 975540 | Market | Enterprise Value | Implied Equity Value |
|  Rights | 61914 | Market | Contingent Value | Contingent Value |
|  | $2672670 |  |  |  |

---

\*\* The table does not include Level 3 securities and/or derivatives that are valued by independent pricing vendors or

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

brokers. As of January 31, 2023, the aggregate value of these securities and/or derivatives was $1,485,583. The unobservable inputs for these investments were not developed by the Fund and are not readily available (e.g. single broker quotes).

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

The industry classification of investments and liabilities in excess of other assets shown as a percentage of net assets as of January 31, 2023 were as follows:

---

| | |
|:---|:---|
|  Sovereign Bonds | 19.2 |
|  Oil & Gas | 14.8 |
|  Electric | 6.7 |
|  Retail | 6.3 |
|  Telecommunications | 5.5 |
|  Media | 5.1 |
|  Commercial Services | 4.1 |
|  Collateralized Loan Obligations | 4.0 |
|  Diversified Financial Services | 4.0 |
|  Home Builders | 3.2 |
|  Foods | 3.2 |
|  Entertainment | 2.9 |
|  Chemicals | 2.7 |
|  Aerospace & Defense | 2.6 |
|  Pipelines | 2.4 |
|  Auto Manufacturers | 2.4 |
|  Real Estate Investment Trusts (REITs) | 2.0 |
|  Healthcare-Services | 1.8 |
|  Banks | 1.8 |
|  Engineering & Construction | 1.7 |
|  Building Materials | 1.7 |
|  Unaffiliated Fund | 1.6 |
|  Mining | 1.6 |
|  Lodging | 1.6 |
|  Pharmaceuticals | 1.5 |
|  Real Estate | 1.4 |
|  Computers | 1.2 |
|  Internet | 0.9 |
|  Packaging & Containers | 0.7 |
|  Energy-Alternate Sources | 0.6 |
|  Transportation | 0.6 |
|  Healthcare-Products | 0.6 |

---

---

| | |
|:---|:---|
|  Oil, Gas & Consumable Fuels | 0.6% |
|  Machinery-Diversified | 0.5 |
|  Apparel | 0.5 |
|  Gas | 0.5 |
|  Agriculture | 0.5 |
|  Housewares | 0.5 |
|  Insurance | 0.4 |
|  Software | 0.4 |
|  Holding Companies-Diversified | 0.4 |
|  Auto Parts & Equipment | 0.4 |
|  Distribution/Wholesale | 0.4 |
|  Advertising | 0.3 |
|  Airlines | 0.3 |
|  Gas Utilities | 0.3 |
|  Electric Utilities | 0.3 |
|  Iron/Steel | 0.3 |
|  Miscellaneous Manufacturing | 0.3 |
|  Wireless Telecommunication Services | 0.2 |
|  Household Products/Wares | 0.2 |
|  Leisure Time | 0.2 |
|  Beverages | 0.2 |
|  Environmental Control | 0.2 |
|  Electronics | 0.1 |
|  Hotels, Restaurants & Leisure | 0.1 |
|  Trucking & Leasing | 0.1 |
|  | 118.6 |
|  Liabilities in excess of other assets | (18.6) |
|  | 100.0% |

---

**<u>Effects of Derivative Instruments on the Financial Statements and Primary Underlying Risk Exposure:</u>**

The Fund invested in derivative instruments during the reporting period. The primary types of risk associated with these derivative instruments are credit contracts risk, foreign exchange contracts and interest rate contracts risk. See the Notes to

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 63

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

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 January 31, 2023 as presented in the Statement of Assets and Liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| **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 | $8,874\* |
|  Foreign exchange contracts | Unrealized appreciation on OTC forward foreign currency exchange contracts | 286488 | Unrealized depreciation on OTC forward foreign currency exchange contracts | 3880759 |
|  Interest rate contracts | Due from/to broker-variation margin futures | 12155 \* | Due from/to broker-variation margin futures | 1333 \* |
|  Interest rate contracts |  |  | Unrealized depreciation on OTC swap agreements | 26241 |
|  |  | $298643 |  | $3917207 |

---

\* 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 January 31, 2023 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** |
| **Derivatives not accounted for as hedging**<br> **instruments, carried at fair value** | **Forward**<br>**Currency**<br>**Exchange**<br>**Contracts** | **Swaps** |
|  Credit contracts | $— | $851630 |
|  Foreign exchange contracts | 3665045 |  |
|  Interest rate contracts |  | 288612 |
|  **Total** | $3665045 | $1140242 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

---

| | | | |
|:---|:---|:---|:---|
| **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** | **Futures** | **Forward**<br>**Currency**<br>**Exchange**<br>**Contracts** | **Swaps** |
|  Credit contracts | $— | $— | $(593986) |
|  Foreign exchange contracts |  | (7046139) |  |
|  Interest rate contracts | 10822 |  | 790726 |
|  **Total** | $10822 | $(7046139) | $196740 |

---

For the six months ended January 31, 2023, the Fund's average volume of derivative activities is as follows:

---

| | |
|:---|:---|
| **Derivative Contract Type** | **Average Volume of Derivative Activities\*** |
|  Futures Contracts - Long Positions (1) | $3486172 |
|  Forward Foreign Currency Exchange Contracts - Purchased (2) | &nbsp;&nbsp;&nbsp;&nbsp;122264108 |
|  Forward Foreign Currency Exchange Contracts - Sold (2) | &nbsp;&nbsp;&nbsp;&nbsp;240038728 |
|  Credit Default Swap Agreements - Buy Protection (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9798220 |
|  Credit Default Swap Agreements - Sell Protection (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15216667 |
|  Total Return Swap Agreements (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11858333 |

---

\* Average volume is based on average quarter end balances as noted for the six months ended January 31, 2023.

(1) Notional Amount in USD.

(2) Value at Settlement Date.

**<u>Financial Instruments/Transactions—Summary of Offsetting and Netting Arrangements:</u>**

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:** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **<u>Counterparty</u>** | **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**  |
|  BNP | $9165 | $(33867) | $(24702) | $— | $(24702) |
|  BOA |  | (28435) | (28435) |  | (28435) |
|  HSBC |  | (5775) | (5775) |  | (5775) |
|  JPM | 277323 | (2820178) | (2542855) | 2160000 | (382855) |
|  MSI |  | (1018745) | (1018745) | 1018745 |  |
|  | $286488 | $(3907000) | $(3620512) | $3178745 | $(441767) |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 65

------

**PGIM Global High Yield Fund, Inc.** 

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

as of January 31, 2023

(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 Global High Yield Fund, Inc.** 

**Statement of Assets & Liabilities** (unaudited)

as of January 31, 2023

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** | &nbsp;&nbsp; **Assets** |
| &nbsp;&nbsp; Unaffiliated investments (cost $750,703,755) | $628961653 |
| &nbsp;&nbsp; Cash | 477379 |
| &nbsp;&nbsp; Foreign currency, at value (cost $6,162,638) | 6174888 |
| &nbsp;&nbsp; Cash segregated for counterparty - OTC | 3370000 |
| &nbsp;&nbsp; Dividends and interest receivable | 10525375 |
| &nbsp;&nbsp; Deposit with broker for centrally cleared/exchange-traded derivatives | 955000 |
| &nbsp;&nbsp; Unrealized appreciation on OTC forward foreign currency exchange contracts | 286488 |
| &nbsp;&nbsp; Receivable for investments sold | 255852 |
| &nbsp;&nbsp; Due from broker—variation margin futures | 13172 |
| &nbsp;&nbsp; Due from broker—variation margin swaps | 10364 |
| &nbsp;&nbsp; Tax reclaim receivable | 3784 |
| &nbsp;&nbsp; Prepaid expenses | 2219 |
| &nbsp;&nbsp; **Total Assets** | 651036174 |
| &nbsp;&nbsp; **Liabilities** | &nbsp;&nbsp; **Liabilities** |
| &nbsp;&nbsp; Loan payable | 105000000 |
| &nbsp;&nbsp; Payable for investments purchased | 10303420 |
| &nbsp;&nbsp; Unrealized depreciation on OTC forward foreign currency exchange contracts | 3880759 |
| &nbsp;&nbsp; Management fee payable | 452279 |
| &nbsp;&nbsp; Interest payable | 445726 |
| &nbsp;&nbsp; Excise tax expense payable | 269034 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 241435 |
| &nbsp;&nbsp; Deferred directors' fees and directors' fees payable | 54548 |
| &nbsp;&nbsp; Unrealized depreciation on OTC swap agreements | 26241 |
| &nbsp;&nbsp; Exchange listing fees payable | 20089 |
| &nbsp;&nbsp; **Total Liabilities** | 120693531 |
| &nbsp;&nbsp; **Net Assets** | $530342643 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $40924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 768542849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (238241130) |
| &nbsp;&nbsp; **Net assets, January 31, 2023** | $530342643 |
| &nbsp;&nbsp;&nbsp; Net asset value and redemption price per share<br>($530,342,643 ÷ 40,923,879 shares of common stock issued and outstanding) | $12.96 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 67

------

**PGIM Global High Yield Fund, Inc.** 

**Statement of Operations** (unaudited)

Six Months Ended January 31, 2023

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** | |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Interest income | $22363875 |
| &nbsp;&nbsp; Unaffiliated dividend income | 539549 |
| &nbsp;&nbsp; **Total income** | 22903424 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 2602794 |
| &nbsp;&nbsp; Interest expense | 1992141 |
| &nbsp;&nbsp; Excise tax expense | 269034 |
| &nbsp;&nbsp; Professional fees | 51729 |
| &nbsp;&nbsp; Custodian and accounting fees | 45145 |
| &nbsp;&nbsp; Shareholders' reports | 40064 |
| &nbsp;&nbsp; Audit fee | 23869 |
| &nbsp;&nbsp; Exchange listing fees | 20089 |
| &nbsp;&nbsp; Transfer agent's fees and expenses | 10299 |
| &nbsp;&nbsp; Directors' fees | 6314 |
| &nbsp;&nbsp; Miscellaneous | 14627 |
| &nbsp;&nbsp; **Total expenses** | 5076105 |
| &nbsp;&nbsp; Net investment income (loss) | 17827319 |
| &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 | (5975449) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward currency contract transactions | 3665045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreement transactions | 1140242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | (1922398) |
|  | (3092560) |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | 12997189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | 10822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward currency contracts | (7046139) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreements | 196740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 150097 |
|  | 6308709 |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | 3216149 |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $21043468 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

**Statements of Changes in Net Assets** (unaudited)

---

| | | |
|:---|:---|:---|
| <br>&nbsp;&nbsp; **Increase (Decrease) in Net Assets** | **Six Months Ended**<br> **January 31, 2023**<br> | **Year Ended**<br> **July 31, 2022**<br> |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $17827319 | $38593320 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | (3092560) | 27138509 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | 6308709 | (162806793) |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 21043468 | (97074964) |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings | (25782044) | (51564088) |
| &nbsp;&nbsp; Total increase (decrease) | (4738576) | (148639052) |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 535081219 | 683720271 |
| &nbsp;&nbsp; End of period | $530342643 | $535081219 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 69

------

**PGIM Global High Yield Fund, Inc.** 

**Statement of Cash Flows** (unaudited)

Six Months Ended January 31, 2023

---

| | |
|:---|:---|
|  **Cash Flows Provided By / (Used For) Operating Activities:** |  |
|  Net increase (decrease) in net assets resulting from operations | $21043468 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Adjustments To Reconcile Net Increase (Decrease) In Net Assets Resulting From<br>Operations To Net Cash Provided By / (Used For) Operating Activities:** | &nbsp;&nbsp;&nbsp;&nbsp; **Adjustments To Reconcile Net Increase (Decrease) In Net Assets Resulting From<br>Operations To Net Cash Provided By / (Used For) Operating Activities:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from disposition of long-term portfolio investments, net of amounts receivable | 58917502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases of long-term portfolio investments, net of amounts payable | (67718805) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net proceeds (purchases) of short-term portfolio investments | 2576213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net premiums (paid) received for swap agreements | 558091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of premium and accretion of discount on portfolio investments | (1929304) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on investment transactions | 5975449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on forward currency contract transactions | (3665045) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on swap agreement transactions | (1140242) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on foreign currency transactions | 1922398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on investments | (12997189) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on futures transactions | (10822) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on forward currency contracts | 7046139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on swap agreements | (196740) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on foreign currencies | (150097) |
| &nbsp;&nbsp;&nbsp;&nbsp;**(Increase) Decrease In Assets:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends and interest receivable | 289085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses | (2219) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Increase (Decrease) In Liabilities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Management fee payable | (11194) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest payable | 146137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Excise tax expense payable | 269034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other liabilities | (82523) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred directors' fees and directors' fees payable | 384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchange listing fees payable | 20089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends payable | (74181) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total adjustments | (10257840) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by (used for) operating activities | 10785628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Effect of exchange rate changes on cash | 1903566 |
|  **Cash Flows Provided By (Used For) Financing Activities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Increase in borrowing | 16000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash paid on distributions from distributable earnings | (25782044) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by (used for) financing activities | (9782044) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in cash and restricted cash, including foreign currency | 2907150 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash and restricted cash at beginning of period, including foreign currency | 8093653 |
|  **Cash And Restricted Cash At End Of Period, Including Foreign Currency** | $11000803 |
|  **Supplemental Disclosure of Cash Flow Information** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash paid during the period for interest expense | $1846004 |

---

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

**Statement of Cash Flows** (unaudited) (continued)

Six Months Ended January 31, 2023

**Reconciliation Of Cash And Restricted Cash Reported With The Statement Of Assets And Liabilities To The Statement Of Cash Flows:** 

---

| | |
|:---|:---|
|  | **January 31, 2023** |
|  Cash | $477379 |
|  Foreign currency, at value | 6174888 |
|  Restricted cash: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash segregated for counterparty - OTC | 3370000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deposit with broker for centrally cleared/exchange-traded derivatives | 955000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due from broker-variation margin futures | 13172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due from broker-variation margin swaps | 10364 |
|  **Total Cash and Restricted Cash, Including Foreign Currency** | $11000803 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 71

------

**PGIM Global High Yield Fund, Inc.** 

**Financial Highlights** (unaudited)

Six Months Ended January 31, 2023

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six Months**<br> **Ended January 31,** | **Year Ended July 31,** | **Year Ended July 31,** | **Year Ended July 31,** | **Year Ended July 31,** | **Year Ended July 31,** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2023**  | **2022** | **2021** | **2020** | **2019** | **2018** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $13.08 | $16.71 | $15.50 | $16.64 | $16.17 | $16.57 |
| &nbsp;&nbsp;&nbsp;**Income (loss) from investment operations:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.44 | 0.94 | 1.09 | 1.10 | 0.91 | 0.86 |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investment and foreign currency transactions | 0.07 | (3.31) | 1.38 | (0.98) | 0.64 | (0.22) |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.51 | (2.37) | 2.47 | 0.12 | 1.55 | 0.64 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.63) | (1.26) | (1.10) | (1.26) | (1.08) | (0.93) |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions | - | - | (0.16) | - | - | (0.11) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.63) | (1.26) | (1.26) | (1.26) | (1.08) | (1.04) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $12.96 | $13.08 | $16.71 | $15.50 | $16.64 | $16.17 |
| &nbsp;&nbsp;&nbsp; Market price, end of period | $11.85 | $11.98 | $15.59 | $13.18 | $14.52 | $13.63 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(b)</sup>:** | 4.65% | (15.91)% | 28.97% | (0.40)% | 15.12% | (2.96)% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $530343 | $535081 | $683720 | $634170 | $680904 | $661572 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $517408 | $623650 | $663605 | $634188 | $657922 | $666960 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement<sup>(d)</sup>  | 1.89 %<sup>(e)</sup> | 1.48% | 1.59% | 1.99% | 2.56% | 2.15% |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement<sup>(d)</sup>  | 1.89 %<sup>(e)</sup> | 1.48% | 1.59% | 1.99% | 2.56% | 2.15% |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 6.89 %<sup>(e)</sup> | 6.19% | 6.70% | 7.13% | 5.68% | 5.30% |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(f)</sup>  | 10% | 35% | 51% | 49% | 96% | 67% |
| &nbsp;&nbsp;&nbsp; Asset coverage | 605% | 701% | 375% | 383% | 340% | 356% |
| &nbsp;&nbsp;&nbsp; Total debt outstanding at period-end (000) | $105000 | $89000 | $249000 | $224000 | $284000 | $258000 |

---

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

(b) Total return is calculated assuming a purchase of common stock at the current market price on the first day and a sale at
the closing market price on the last day for the period reported. Dividends are assumed, for the purpose of this calculation, to be reinvested at prices obtainable under the Fund's dividend reinvestment plan. This amount does not reflect
brokerage commissions or sales load. 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) Includes interest expense of 0.76%, 0.32%, 0.33%, 0.75%, 1.28% and 0.91%, for the six months ended January 31, 2023
and years ended July 31, 2022, 2021, 2020, 2019, and 2018, respectively. Includes tax expense of 0.05%, 0.01% and 0.01% for the six months ended January 31, 2023 and years ended July 31, 2020 and 2019, respectively.

(e) Annualized, with the exception of certain non-recurring expenses.

See Notes to Financial Statements.

------

**PGIM Global High Yield Fund, Inc.** 

**Financial Highlights** (unaudited) (continued)

Six Months Ended January 31, 2023

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

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 73

------

**PGIM High Yield Bond Fund, Inc.** 

**Schedule of Investments** (unaudited)

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **LONG-TERM INVESTMENTS 119.9%**<br>&nbsp;&nbsp; **ASSET-BACKED SECURITIES 8.8%**<br>&nbsp;&nbsp; **Collateralized Loan Obligations** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Atlas Static Senior Loan Fund Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class A, 144A, 3 Month SOFR + 2.600% (Cap N/A, Floor 2.600%) | 7.258%(c) | 07/15/30 | 4359 | $4356256 |
| &nbsp;&nbsp; Battalion CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-08A, Class A1R2, 144A, 3 Month LIBOR + 1.070% (Cap N/A, Floor 1.070%) | 5.865(c) | 07/18/30 | 1960 | 1935839 |
| &nbsp;&nbsp; BlueMountain CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-02A, Class A1R2, 144A, 3 Month LIBOR + 1.120% (Cap N/A, Floor 1.120%) | 5.795(c) | 08/20/32 | 3000 | 2952466 |
| &nbsp;&nbsp; Carlyle Global Market Strategies CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-01A, Class A1R2, 144A, 3 Month LIBOR + 0.970% (Cap N/A, Floor 0.970%) | 5.762(c) | 04/17/31 | 2991 | 2932099 |
| &nbsp;&nbsp; CIFC Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-02A, Class A1, 144A, 3 Month LIBOR + 1.040% (Cap N/A, Floor 0.000%) | 5.848(c) | 04/20/31 | 2750 | 2728410 |
| &nbsp;&nbsp; Guggenheim CLO STAT Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-01A, Class A1A, 144A, 3 Month SOFR + 2.590% (Cap N/A, Floor 2.590%) | 6.709(c) | 10/25/31 | 2000 | 1998921 |
| &nbsp;&nbsp; KKR CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 11, Class AR, 144A, 3 Month LIBOR + 1.180% (Cap N/A, Floor 1.180%) | 5.972(c) | 01/15/31 | 2000 | 1985000 |
| &nbsp;&nbsp; KKR Static CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.220% (Cap N/A, Floor 2.220%) | 6.738(c) | 10/20/31 | 2000 | 1999204 |
| &nbsp;&nbsp; Madison Park Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-18A, Class ARR, 144A, 3 Month LIBOR + 0.940% (Cap N/A, Floor 0.940%) | 5.755(c) | 10/21/30 | 2490 | 2470239 |
| &nbsp;&nbsp; OFSI BSL Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-12A, Class A1, 144A | 0.000(c) | 01/20/35 | 2250 | 2250000 |
| &nbsp;&nbsp; Palmer Square Loan Funding Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-03A, Class A1A, 144A, 3 Month SOFR + 1.820% (Cap N/A, Floor 1.820%) | 5.825(c) | 04/15/31 | 4000 | 3992206 |
| &nbsp;&nbsp; Shackleton CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-11A, Class AR, 144A, 3 Month LIBOR + 1.090% (Cap N/A, Floor 0.000%) | 5.696(c) | 08/15/30 | 2715 | 2682805 |
| &nbsp;&nbsp; Signal Peak CLO Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-05A, Class A, 144A, 3 Month LIBOR + 1.110% (Cap N/A, Floor 1.110%) | 5.928(c) | 04/25/31 | 2650 | 2617862 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **ASSET-BACKED SECURITIES (Continued)**<br>&nbsp;&nbsp; **Collateralized Loan Obligations (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; TSTAT Ltd. (Bermuda), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.370% (Cap N/A, Floor 2.370%) | 6.883%(c) | 01/20/31 | 2250 | $2247911 |
| &nbsp;&nbsp; Voya CLO Ltd. (Cayman Islands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-03A, Class A1R, 144A, 3 Month LIBOR + 1.190% (Cap N/A, Floor 1.190%) | 5.998(c) | 10/20/31 | 4000 | 3972771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL ASSET-BACKED SECURITIES**<br> (cost $40,918,744) |  |  |  | 41121989 |
| &nbsp;&nbsp; **CORPORATE BONDS 104.1%** |  |  |  |  |
| &nbsp;&nbsp; **Advertising 0.4%** |  |  |  |  |
| &nbsp;&nbsp; CMG Media Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 8.875 | 12/15/27 | 2565 | 2005393 |
| &nbsp;&nbsp; **Aerospace & Defense 3.9%** |  |  |  |  |
| &nbsp;&nbsp; Boeing Co. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 5.805 | 05/01/50 | 2650 | 2706474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.930 | 05/01/60 | 750 | 764959 |
| &nbsp;&nbsp; Bombardier, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 02/15/28 | 1050 | 993563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.125 | 06/15/26 | 875 | 871719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 12/01/24 | 1580 | 1610652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 03/15/25 | 1776 | 1776000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 02/01/29 | 900 | 896625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 7.875 | 04/15/27 | 3965 | 3965000 |
| &nbsp;&nbsp; Spirit AeroSystems, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 7.500 | 04/15/25 | 900 | 902975 |
| &nbsp;&nbsp; TransDigm UK Holdings PLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.875 | 05/15/26 | 200 | 197760 |
| &nbsp;&nbsp; TransDigm, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.625 | 01/15/29 | 600 | 541629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.500 | 11/15/27 | 2525 | 2411335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.250 | 03/15/26 | 600 | 599777 |
|  |  |  |  | 18238468 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 75

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Agriculture 0.2%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Vector Group Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750% | 02/01/29 | 1350 | $1178303 |
| &nbsp;&nbsp; **Airlines 1.2%** |  |  |  |  |
| &nbsp;&nbsp; American Airlines, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 11.750 | 07/15/25 | 250 | 278419 |
| &nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.500 | 04/20/26 | 1450 | 1418281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750 | 04/20/29 | 1550 | 1495750 |
| &nbsp;&nbsp; Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750 | 01/20/26 | 675 | 642938 |
| &nbsp;&nbsp; United Airlines, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.375 | 04/15/26 | 1080 | 1025911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.625 | 04/15/29 | 830 | 757315 |
|  |  |  |  | 5618614 |
| &nbsp;&nbsp; **Apparel 0.5%** |  |  |  |  |
| &nbsp;&nbsp; Hanesbrands, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.875 | 05/15/26 | 500 | 467503 |
| &nbsp;&nbsp; Kontoor Brands, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.125 | 11/15/29 | 275 | 237559 |
| &nbsp;&nbsp; Wolverine World Wide, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.000 | 08/15/29 | 1825 | 1466161 |
|  |  |  |  | 2171223 |
| &nbsp;&nbsp; **Auto Manufacturers 2.0%** |  |  |  |  |
| &nbsp;&nbsp; Ford Motor Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.250 | 02/12/32 | 725 | 575712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 4.750 | 01/15/43 | 3925 | 3065393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.291 | 12/08/46 | 2775 | 2299153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.400 | 11/01/46 | 200 | 206222 |
| &nbsp;&nbsp; Ford Motor Credit Co. LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.000 | 11/13/30 | 400 | 349203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.584 | 03/18/24 | 310 | 308448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.950 | 03/06/26 | 375 | 383533 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Auto Manufacturers (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Jaguar Land Rover Automotive PLC (United Kingdom), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.750% | 10/15/25 | 1000 | $985000 |
| &nbsp;&nbsp; PM General Purchaser LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 9.500 | 10/01/28 | 1325 | 1013559 |
|  |  |  |  | 9186223 |
| &nbsp;&nbsp; **Auto Parts & Equipment 1.1%** |  |  |  |  |
| &nbsp;&nbsp; Adient Global Holdings Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.875 | 08/15/26 | 1161 | 1098175 |
| &nbsp;&nbsp; American Axle & Manufacturing, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.250 | 03/15/26 | 271 | 255202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.500 | 04/01/27 | 1231 | 1135469 |
| &nbsp;&nbsp; Dana Financing Luxembourg Sarl, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.750 | 04/15/25 | 500 | 490000 |
| &nbsp;&nbsp; Dana, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.250 | 09/01/30 | 250 | 211976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.500 | 02/15/32 | 600 | 505830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.375 | 11/15/27 | 200 | 190857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.625 | 06/15/28 | 600 | 567000 |
| &nbsp;&nbsp; Titan International, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 7.000 | 04/30/28 | 700 | 670476 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5124985 |
| &nbsp;&nbsp; **Banks 1.2%** |  |  |  |  |
| &nbsp;&nbsp; Citigroup, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes | 3.875(ff) | 02/18/26(oo) | 625 | 570492 |
| &nbsp;&nbsp; Credit Suisse AG (Switzerland), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, MTN | 3.625 | 09/09/24 | 375 | 357067 |
| &nbsp;&nbsp; Freedom Mortgage Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.625 | 05/01/26 | 550 | 484100 |
| &nbsp;&nbsp; Intesa Sanpaolo SpA (Italy), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sub. Notes, 144A | 4.198(ff) | 06/01/32 | 2200 | 1740644 |
| &nbsp;&nbsp; Popular, Inc. (Puerto Rico), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 09/14/23 | 2425 | 2409844 |
|  |  |  |  | 5562147 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 77

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Building Materials 2.0%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Camelot Return Merger Sub, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 8.750% | 08/01/28 | 650 | $611131 |
| &nbsp;&nbsp; Cornerstone Building Brands, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.125 | 01/15/29 | 1100 | 822841 |
| &nbsp;&nbsp; Eco Material Technologies, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.875 | 01/31/27 | 600 | 577752 |
| &nbsp;&nbsp; Griffon Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.750 | 03/01/28 | 630 | 596496 |
| &nbsp;&nbsp; JELD-WEN, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 12/15/25 | 701 | 620337 |
| &nbsp;&nbsp; Masonite International Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.500 | 02/15/30 | 675 | 556875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 02/01/28 | 180 | 168881 |
| &nbsp;&nbsp; MIWD Holdco II LLC/MIWD Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 02/01/30 | 952 | 792145 |
| &nbsp;&nbsp; Smyrna Ready Mix Concrete LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.000 | 11/01/28 | 1425 | 1297144 |
| &nbsp;&nbsp; Standard Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.375 | 01/15/31 | 475 | 377892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.375 | 07/15/30 | 1375 | 1178904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.750 | 01/15/28 | 1475 | 1381643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 02/15/27 | 320 | 304725 |
|  |  |  |  | 9286766 |
| &nbsp;&nbsp; **Chemicals 3.6%** |  |  |  |  |
| &nbsp;&nbsp; Ashland LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.875 | 05/15/43 | 2125 | 2154512 |
| &nbsp;&nbsp; ASP Unifrax Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.250 | 09/30/28 | 325 | 277558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 09/30/29 | 225 | 162846 |
| &nbsp;&nbsp; Avient Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.750 | 05/15/25 | 870 | 862506 |
| &nbsp;&nbsp; Chemours Co. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 11/15/29 | 800 | 668154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.750 | 11/15/28 | 620 | 564949 |
| &nbsp;&nbsp; Cornerstone Chemical Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.750 | 08/15/24 | 1820 | 1453956 |
| &nbsp;&nbsp; Diamond BC BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 10/01/29 | 650 | 545187 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Chemicals (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Iris Holding, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 10.000% | 12/15/28 | 1100 | $863677 |
| &nbsp;&nbsp; NOVA Chemicals Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;4.875 | 06/01/24 | 1100 | 1079375 |
| &nbsp;&nbsp; Olympus Water US Holding Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.250 | 10/01/28 | 625 | 522482 |
| &nbsp;&nbsp; Rain CII Carbon LLC/CII Carbon Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.250 | 04/01/25 | 1590 | 1498889 |
| &nbsp;&nbsp; SK Invictus Intermediate II Sarl (Luxembourg), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | 10/30/29 | 820 | 672400 |
| &nbsp;&nbsp; SPCM SA (France), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;3.375 | 03/15/30 | 450 | 380925 |
| &nbsp;&nbsp; TPC Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 13.000 | 12/16/27 | 884 | 904427 |
| &nbsp;&nbsp; Tronox, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.625 | 03/15/29 | 1565 | 1338075 |
| &nbsp;&nbsp; Valvoline, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.250 | 02/15/30 | 460 | 452405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;3.625 | 06/15/31 | 600 | 504676 |
| &nbsp;&nbsp; Venator Finance Sarl/Venator Materials LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.750 | 07/15/25 | 2327 | 814450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | 07/01/25 | 1040 | 821600 |
| &nbsp;&nbsp; WR Grace Holdings LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.625 | 10/01/24 | 50 | 49746 |
|  |  |  |  | 16592795 |
| &nbsp;&nbsp; **Coal 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Coronado Finance Pty Ltd. (Australia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 10.750 | 05/15/26 | 400 | 414000 |
| &nbsp;&nbsp; **Commercial Services 5.9%** |  |  |  |  |
| &nbsp;&nbsp; Adtalem Global Education, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | 03/01/28 | 459 | 427643 |
| &nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.625 | 07/15/26 | 430 | 414043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | 06/01/29 | 1150 | 924423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;9.750 | 07/15/27 | 2900 | 2770367 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 79

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#**  | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Commercial Services (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.625% | 06/01/28 |  | 860 | $739600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.625 | 06/01/28 |  | 1315 | 1121038 |
| &nbsp;&nbsp; Alta Equipment Group, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 5.625 | 04/15/26 |  | 500 | 466287 |
| &nbsp;&nbsp; AMN Healthcare, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.000 | 04/15/29 |  | 825 | 715925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 10/01/27 |  | 400 | 371033 |
| &nbsp;&nbsp; APi Group DE, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 10/15/29 |  | 325 | 292253 |
| &nbsp;&nbsp; Avis Budget Car Rental LLC/Avis Budget Finance, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 04/01/28 |  | 1295 | 1145066 |
| &nbsp;&nbsp; Avis Budget Finance PLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.750 | 01/30/26 | EUR | 275 | 284593 |
| &nbsp;&nbsp; Brink's Co. (The), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 10/15/27 |  | 375 | 351760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.500 | 07/15/25 |  | 200 | 197536 |
| &nbsp;&nbsp; Carriage Services, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.250 | 05/15/29 |  | 200 | 164503 |
| &nbsp;&nbsp; Gartner, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.625 | 06/15/29 |  | 425 | 381556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.750 | 10/01/30 |  | 325 | 287920 |
| &nbsp;&nbsp; Herc Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 07/15/27 |  | 441 | 422404 |
| &nbsp;&nbsp; Hertz Corp. (The), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 12/01/26 |  | 275 | 244335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 12/01/29 |  | 525 | 429073 |
| &nbsp;&nbsp; Metis Merger Sub LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 6.500 | 05/15/29 |  | 2350 | 2003429 |
| &nbsp;&nbsp; MPH Acquisition Holdings LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.500 | 09/01/28 |  | 1350 | 1121395 |
| &nbsp;&nbsp; NESCO Holdings II, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 5.500 | 04/15/29 |  | 900 | 809939 |
| &nbsp;&nbsp; Service Corp. International, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.000 | 05/15/31 |  | 1050 | 919361 |
| &nbsp;&nbsp; United Rentals North America, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.750 | 01/15/32 |  | 575 | 497188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.000 | 07/15/30 |  | 150 | 134998 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Commercial Services (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; United Rentals North America, Inc., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 4.875% | 01/15/28 | 5720 | $5541290 |
| &nbsp;&nbsp; Verscend Escrow Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 9.750 | 08/15/26 | 4445 | 4464862 |
|  |  |  |  | 27643820 |
| &nbsp;&nbsp; **Computers 0.8%** |  |  |  |  |
| &nbsp;&nbsp; CA Magnum Holdings (India), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.375 | 10/31/26 | 225 | 207000 |
| &nbsp;&nbsp; McAfee Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.375 | 02/15/30 | 955 | 789727 |
| &nbsp;&nbsp; NCR Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 10/01/28 | 550 | 489233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.125 | 04/15/29 | 425 | 369788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 10/01/30 | 350 | 303910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.750 | 09/01/27 | 1000 | 975544 |
| &nbsp;&nbsp; Tempo Acquisition LLC/Tempo Acquisition Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750 | 06/01/25 | 375 | 378667 |
|  |  |  |  | 3513869 |
| &nbsp;&nbsp; **Distribution/Wholesale 0.4%** |  |  |  |  |
| &nbsp;&nbsp; H&E Equipment Services, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.875 | 12/15/28 | 2250 | 1984410 |
| &nbsp;&nbsp; **Diversified Financial Services 4.4%** |  |  |  |  |
| &nbsp;&nbsp; Bread Financial Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 12/15/24 | 1075 | 975013 |
| &nbsp;&nbsp; goeasy Ltd. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.375 | 05/01/26 | 525 | 469875 |
| &nbsp;&nbsp; Home Point Capital, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 02/01/26 | 375 | 271908 |
| &nbsp;&nbsp; Jefferies Finance LLC/JFIN Co-Issuer Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 08/15/28 | 1525 | 1302443 |
| &nbsp;&nbsp; LD Holdings Group LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.125 | 04/01/28 | 1025 | 667490 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 81

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Diversified Financial Services (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; LFS Topco LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.875% | 10/15/26 | 875 | $724087 |
| &nbsp;&nbsp; LPL Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | 03/15/29 | 300 | 268473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.375 | 05/15/31 | 100 | 87623 |
| &nbsp;&nbsp; Nationstar Mortgage Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.125 | 12/15/30 | 850 | 688597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | 08/15/28 | 2645 | 2310725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | 01/15/27 | 1725 | 1603511 |
| &nbsp;&nbsp; Navient Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | 03/15/29 | 1800 | 1593405 |
| &nbsp;&nbsp; OneMain Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;3.875 | 09/15/28 | 400 | 336751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | 09/15/30 | 700 | 557936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | &nbsp;&nbsp;&nbsp;&nbsp;6.875 | 03/15/25 | 750 | 747551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | &nbsp;&nbsp;&nbsp;&nbsp;7.125 | 03/15/26 | 4498 | 4473349 |
| &nbsp;&nbsp; PennyMac Financial Services, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.250 | 02/15/29 | 575 | 472583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.375 | 10/15/25 | 800 | 746170 |
| &nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | 10/15/33 | 1175 | 931588 |
| &nbsp;&nbsp; VistaJet Malta Finance PLC/XO Management Holding, Inc. (Switzerland), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.375 | 02/01/30 | 750 | 660000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.875 | 05/01/27 | 775 | 751750 |
|  |  |  |  | 20640828 |
| &nbsp;&nbsp; **Electric 5.5%** |  |  |  |  |
| &nbsp;&nbsp; Calpine Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | 02/15/28 | 500 | 461769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.625 | 02/01/29 | 2025 | 1759910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | 02/01/31 | 1975 | 1692379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;5.125 | 03/15/28 | 5950 | 5385962 |
| &nbsp;&nbsp; Keystone Power Pass-Through Holders LLC/Conemaugh Power Pass-Through Holders, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sub. Notes, 144A, Cash coupon 13.000% or PIK N/A | 13.000 | 06/01/24 | 238 | 154560 |
| &nbsp;&nbsp; NRG Energy, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | &nbsp;&nbsp;&nbsp;&nbsp;5.750 | 01/15/28 | 2975 | 2841231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;3.375 | 02/15/29 | 200 | 165713 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#**  | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Electric (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; NRG Energy, Inc., (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.625% | 02/15/31 |  | 750 | $594560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.875 | 02/15/32 |  | 425 | 331009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 06/15/29 |  | 800 | 722281 |
| &nbsp;&nbsp; PG&E Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes(aa) | 5.000 | 07/01/28 |  | 1625 | 1520173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes(aa) | 5.250 | 07/01/30 |  | 1885 | 1736946 |
| &nbsp;&nbsp; Vistra Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, 144A | 7.000(ff) | 12/15/26(oo) |  | 125 | 117670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, 144A | 8.000(ff) | 10/15/26(oo) |  | 400 | 391794 |
| &nbsp;&nbsp; Vistra Operations Co. LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.375 | 05/01/29 |  | 500 | 440107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.000 | 07/31/27 |  | 1100 | 1034662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.625 | 02/15/27 |  | 6400 | 6201761 |
|  |  |  |  |  | 25552487 |
| &nbsp;&nbsp; **Electrical Components & Equipment 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp; Energizer Gamma Acquisition BV, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.500 | 06/30/29 | EUR | 100 | 88373 |
| &nbsp;&nbsp; Energizer Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.375 | 03/31/29 |  | 750 | 650118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 06/15/28 |  | 350 | 313249 |
| &nbsp;&nbsp; WESCO Distribution, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.125 | 06/15/25 |  | 600 | 609544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.250 | 06/15/28 |  | 1130 | 1162220 |
|  |  |  |  |  | 2823504 |
| &nbsp;&nbsp; **Electronics 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; Likewize Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 9.750 | 10/15/25 |  | 1515 | 1430619 |
| &nbsp;&nbsp; Sensata Technologies, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.750 | 02/15/31 |  | 260 | 221946 |
|  |  |  |  |  | 1652565 |
| &nbsp;&nbsp; **Engineering & Construction 0.4%** |  |  |  |  |  |
| &nbsp;&nbsp; AECOM, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.125 | 03/15/27 |  | 380 | 373346 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 83

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Engineering & Construction (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Artera Services LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;9.033% | 12/04/25 | 700 | $598564 |
| &nbsp;&nbsp; TopBuild Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;3.625 | 03/15/29 | 500 | 426774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.125 | 02/15/32 | 425 | 360509 |
|  |  |  |  | 1759193 |
| &nbsp;&nbsp; **Entertainment 3.5%** |  |  |  |  |
| &nbsp;&nbsp; AMC Entertainment Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A, Cash coupon 10.000% or PIK 12.000% or Cash coupon 5.000% and PIK 6.000% | 10.000 | 06/15/26 | 533 | 268310 |
| &nbsp;&nbsp; Caesars Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.250 | 07/01/25 | 1935 | 1927756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | 02/15/30 | 1575 | 1604960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.625 | 10/15/29 | 275 | 234922 |
| &nbsp;&nbsp; CCM Merger, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.375 | 05/01/26 | 275 | 266008 |
| &nbsp;&nbsp; Everi Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | 07/15/29 | 100 | 90425 |
| &nbsp;&nbsp; Golden Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;7.625 | 04/15/26 | 2100 | 2112718 |
| &nbsp;&nbsp; International Game Technology PLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.125 | 04/15/26 | 500 | 474140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.250 | 01/15/27 | 350 | 350000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | 02/15/25 | 1260 | 1273205 |
| &nbsp;&nbsp; Jacobs Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | 02/15/29 | 525 | 489179 |
| &nbsp;&nbsp; Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.875 | 05/01/29 | 825 | 729454 |
| &nbsp;&nbsp; Motion Bondco DAC (United Kingdom), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.625 | 11/15/27 | 869 | 786210 |
| &nbsp;&nbsp; Penn Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.125 | 07/01/29 | 675 | 558072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.625 | 01/15/27 | 1980 | 1860752 |
| &nbsp;&nbsp; Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | 09/01/31 | 1225 | 854139 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Entertainment (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Scientific Games Holdings LP/Scientific Games US FinCo, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.625% | 03/01/30 | 825 | $735527 |
| &nbsp;&nbsp; Scientific Games International, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.625 | 07/01/25 | 800 | 820452 |
| &nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.125 | 10/01/29 | 860 | 767365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.750 | 04/15/25 | 275 | 275932 |
|  |  |  |  | 16479526 |
| &nbsp;&nbsp; **Environmental Control 0.4%** |  |  |  |  |
| &nbsp;&nbsp; Clean Harbors, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.375 | 02/01/31 | 125 | 127335 |
| &nbsp;&nbsp; GFL Environmental, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.000 | 08/01/28 | 275 | 244131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.375 | 08/15/29 | 1575 | 1396742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 06/15/29 | 50 | 45154 |
|  |  |  |  | 1813362 |
| &nbsp;&nbsp; **Foods 3.9%** |  |  |  |  |
| &nbsp;&nbsp; Albertson's Cos., Inc./Safeway, Inc./New Albertson's LP/Albertson's LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 3.500 | 03/15/29 | 1560 | 1345583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.875 | 02/15/30 | 250 | 230435 |
| &nbsp;&nbsp; B&G Foods, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.250 | 09/15/27 | 2700 | 2182582 |
| &nbsp;&nbsp; C&S Group Enterprises LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 12/15/28 | 875 | 674726 |
| &nbsp;&nbsp; Chobani LLC/Chobani Finance Corp., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 04/15/25 | 1150 | 1128642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.625 | 11/15/28 | 150 | 137341 |
| &nbsp;&nbsp; JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.750 | 12/01/31 | 525 | 445126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500 | 01/15/30 | 900 | 876035 |
| &nbsp;&nbsp; Kraft Heinz Foods Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 4.375 | 06/01/46 | 1775 | 1551048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.000 | 07/15/35 | 235 | 235661 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 85

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#**  | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Foods (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Kraft Heinz Foods Co., (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.200% | 07/15/45 |  | 300 | $293123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.500 | 06/01/50 |  | 1125 | 1146971 |
| &nbsp;&nbsp; Lamb Weston Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.125 | 01/31/30 |  | 350 | 315517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.375 | 01/31/32 |  | 725 | 648793 |
| &nbsp;&nbsp; Market Bidco Finco PLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.500 | 11/04/27 | GBP | 450 | 429735 |
| &nbsp;&nbsp; Pilgrim's Pride Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.500 | 03/01/32 |  | 375 | 305236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.875 | 09/30/27 |  | 3800 | 3769046 |
| &nbsp;&nbsp; Post Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 04/15/30 |  | 1075 | 946031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 12/15/29 |  | 450 | 417529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.500 | 09/15/31 |  | 1400 | 1207472 |
|  |  |  |  |  | 18286632 |
| &nbsp;&nbsp; **Gas 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500 | 05/20/25 |  | 25 | 24327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.625 | 05/20/24 |  | 125 | 123145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.750 | 05/20/27 |  | 2150 | 2026239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 5.875 | 08/20/26 |  | 575 | 555405 |
|  |  |  |  |  | 2729116 |
| &nbsp;&nbsp; **Healthcare-Products 1.3%** |  |  |  |  |  |
| &nbsp;&nbsp; Embecta Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.000 | 02/15/30 |  | 1125 | 926451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.750 | 02/15/30 |  | 225 | 202521 |
| &nbsp;&nbsp; Medline Borrower LP, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 3.875 | 04/01/29 |  | 2525 | 2160489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.250 | 10/01/29 |  | 3400 | 2853356 |
|  |  |  |  |  | 6142817 |
| &nbsp;&nbsp; **Healthcare-Services 3.7%** |  |  |  |  |  |
| &nbsp;&nbsp; DaVita, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.750 | 02/15/31 |  | 1575 | 1224387 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Healthcare-Services (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; DaVita, Inc., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.625% | 06/01/30 | 3075 | $2590602 |
| &nbsp;&nbsp; Hadrian Merger Sub, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.500 | 05/01/26 | 250 | 209471 |
| &nbsp;&nbsp; Legacy LifePoint Health LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.375 | 02/15/27 | 800 | 699400 |
| &nbsp;&nbsp; LifePoint Health, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 01/15/29 | 925 | 619732 |
| &nbsp;&nbsp; Prime Healthcare Services, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.250 | 11/01/25 | 1800 | 1592268 |
| &nbsp;&nbsp; RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 9.750 | 12/01/26 | 3400 | 2978145 |
| &nbsp;&nbsp; Tenet Healthcare Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.125 | 10/01/28 | 250 | 232827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes(aa) | 4.250 | 06/01/29 | 1925 | 1712715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.375 | 01/15/30 | 3825 | 3404262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 6.875 | 11/15/31 | 2025 | 1870771 |
|  |  |  |  | 17134580 |
| &nbsp;&nbsp; **Home Builders 5.7%** |  |  |  |  |
| &nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods Finance Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.625 | 08/01/29 | 825 | 688364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.625 | 04/01/30 | 625 | 521927 |
| &nbsp;&nbsp; Beazer Homes USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.875 | 10/15/27 | 1200 | 1082838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.250 | 10/15/29 | 2750 | 2541300 |
| &nbsp;&nbsp; Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.875 | 02/15/30 | 1875 | 1450313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 6.250 | 09/15/27 | 815 | 722929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 06/15/29 | 400 | 316000 |
| &nbsp;&nbsp; Century Communities, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.750 | 06/01/27 | 1725 | 1707438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.875 | 08/15/29 | 150 | 126213 |
| &nbsp;&nbsp; Forestar Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.850 | 05/15/26 | 450 | 403369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.000 | 03/01/28 | 1200 | 1054700 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 87

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Home Builders (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; KB Home, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.000% | 06/15/31 | 500 | $420121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.800 | 11/15/29 | 1000 | 898291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.875 | 06/15/27 | 1225 | 1252410 |
| &nbsp;&nbsp; Lennar Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.000 | 06/15/27 | 1250 | 1248531 |
| &nbsp;&nbsp; M/I Homes, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.950 | 02/15/30 | 375 | 315475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.950 | 02/01/28 | 725 | 669452 |
| &nbsp;&nbsp; Mattamy Group Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.625 | 03/01/30 | 1158 | 973704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.250 | 12/15/27 | 1075 | 983625 |
| &nbsp;&nbsp; Meritage Homes Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.125 | 06/06/27 | 2523 | 2431629 |
| &nbsp;&nbsp; Shea Homes LP/Shea Homes Funding Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 02/15/28 | 1293 | 1151460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 04/01/29 | 475 | 414065 |
| &nbsp;&nbsp; STL Holding Co. LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 02/15/26 | 925 | 811719 |
| &nbsp;&nbsp; Taylor Morrison Communities, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.750 | 01/15/28 | 450 | 436681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 06/15/27 | 375 | 368864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.125 | 08/01/30 | 1480 | 1352863 |
| &nbsp;&nbsp; Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.625 | 03/01/24 | 1523 | 1517274 |
| &nbsp;&nbsp; Tri Pointe Homes, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.700 | 06/15/28 | 915 | 858446 |
|  |  |  |  | 26720001 |
| &nbsp;&nbsp; **Home Furnishings 0.0%** |  |  |  |  |
| &nbsp;&nbsp; Tempur Sealy International, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.000 | 04/15/29 | 200 | 174685 |
| &nbsp;&nbsp; **Household Products/Wares 0.4%** |  |  |  |  |
| &nbsp;&nbsp; ACCO Brands Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.250 | 03/15/29 | 1075 | 929911 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Household Products/Wares (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Central Garden & Pet Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.125% | 04/30/31 | 100 | $83955 |
| &nbsp;&nbsp; Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.000 | 12/31/27 | 800 | 697200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.000 | 12/31/26 | 175 | 158856 |
| &nbsp;&nbsp; Spectrum Brands, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.875 | 03/15/31 | 200 | 161292 |
|  |  |  |  | 2031214 |
| &nbsp;&nbsp; **Housewares 0.6%** |  |  |  |  |
| &nbsp;&nbsp; Scotts Miracle-Gro Co. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.000 | 04/01/31 | 750 | 609091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.375 | 02/01/32 | 725 | 592693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.500 | 10/15/29 | 750 | 651911 |
| &nbsp;&nbsp; SWF Escrow Issuer Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.500 | 10/01/29 | 1675 | 1099855 |
|  |  |  |  | 2953550 |
| &nbsp;&nbsp; **Insurance 0.2%** |  |  |  |  |
| &nbsp;&nbsp; BroadStreet Partners, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.875 | 04/15/29 | 875 | 772429 |
| &nbsp;&nbsp; **Internet 1.5%** |  |  |  |  |
| &nbsp;&nbsp; Cablevision Lightpath LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 3.875 | 09/15/27 | 1925 | 1644650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.625 | 09/15/28 | 825 | 632357 |
| &nbsp;&nbsp; Gen Digital, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 04/15/25 | 3000 | 2941572 |
| &nbsp;&nbsp; Go Daddy Operating Co. LLC/GD Finance Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.500 | 03/01/29 | 525 | 454131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 12/01/27 | 1165 | 1128471 |
|  |  |  |  | 6801181 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 89

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Iron/Steel 0.5%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Big River Steel LLC/BRS Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.625% | 01/31/29 | 1709 | $1684542 |
| &nbsp;&nbsp; Commercial Metals Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.125 | 01/15/30 | 200 | 178991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.375 | 03/15/32 | 300 | 263877 |
|  |  |  |  | 2127410 |
| &nbsp;&nbsp; **Leisure Time 0.7%** |  |  |  |  |
| &nbsp;&nbsp; NCL Corp. Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 8.375 | 02/01/28 | 250 | 253438 |
| &nbsp;&nbsp; Royal Caribbean Cruises Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 8.250 | 01/15/29 | 1125 | 1164375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.375 | 07/15/27 | 250 | 216375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500 | 04/01/28 | 275 | 236500 |
| &nbsp;&nbsp; Viking Cruises Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 09/15/27 | 350 | 297500 |
| &nbsp;&nbsp; Viking Ocean Cruises Ship VII Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.625 | 02/15/29 | 825 | 705375 |
| &nbsp;&nbsp; Vista Outdoor, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.500 | 03/15/29 | 475 | 384715 |
|  |  |  |  | 3258278 |
| &nbsp;&nbsp; **Lodging 1.9%** |  |  |  |  |
| &nbsp;&nbsp; Hilton Domestic Operating Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.625 | 02/15/32 | 900 | 752866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.000 | 05/01/31 | 275 | 238702 |
| &nbsp;&nbsp; MGM Resorts International, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.625 | 09/01/26 | 275 | 259120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 4.750 | 10/15/28 | 400 | 362538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.500 | 04/15/27 | 1061 | 1024976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.750 | 06/15/25 | 50 | 49344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.750 | 05/01/25 | 1910 | 1922109 |
| &nbsp;&nbsp; Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.875 | 05/15/25 | 625 | 588256 |
| &nbsp;&nbsp; Wynn Macau Ltd. (Macau), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.125 | 12/15/29 | 1325 | 1098094 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Lodging (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Wynn Macau Ltd. (Macau), (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.500% | 10/01/27 | 550 | $492250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.625 | 08/26/28 | 2125 | 1880625 |
|  |  |  |  | 8668880 |
| &nbsp;&nbsp; **Machinery-Construction & Mining 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Terex Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | 05/15/29 | 725 | 676815 |
| &nbsp;&nbsp; **Machinery-Diversified 0.9%** |  |  |  |  |
| &nbsp;&nbsp; Chart Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;9.500 | 01/01/31 | 325 | 339193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | 01/01/30 | 575 | 587372 |
| &nbsp;&nbsp; GrafTech Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.625 | 12/15/28 | 975 | 846977 |
| &nbsp;&nbsp; Maxim Crane Works Holdings Capital LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A(aa) | 10.125 | 08/01/24 | 1815 | 1764015 |
| &nbsp;&nbsp; TK Elevator US Newco, Inc. (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | 07/15/27 | 625 | 576619 |
|  |  |  |  | 4114176 |
| &nbsp;&nbsp; **Media 8.0%** |  |  |  |  |
| &nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | 05/01/32 | 1850 | 1532060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;4.250 | 02/01/31 | 5600 | 4664184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | 06/01/33 | 700 | 568787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;4.750 | 03/01/30 | 2900 | 2535923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | 02/01/28 | 1000 | 933412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | 05/01/26 | 450 | 442281 |
| &nbsp;&nbsp; CSC Holdings LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;3.375 | 02/15/31 | 1175 | 819581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;4.125 | 12/01/30 | 775 | 568932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | 02/01/29 | 1200 | 1039472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;4.625 | 12/01/30 | 4875 | 2882937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;5.750 | 01/15/30 | 2550 | 1608047 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 91

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Media (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Diamond Sports Group LLC/Diamond Sports Finance Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A (original cost $5,393,891; purchased 07/18/19 - 11/18/21)(f) | &nbsp;&nbsp;&nbsp;&nbsp;6.625% | 08/15/27 | 6595 | $134200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A (original cost $3,277,261; purchased 07/18/19 - 08/30/22)(f) | &nbsp;&nbsp;&nbsp;&nbsp;5.375 | 08/15/26 | 6090 | 443884 |
| &nbsp;&nbsp; DISH DBS Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;5.125 | 06/01/29 | 1840 | 1170140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;7.375 | 07/01/28 | 1065 | 765669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | &nbsp;&nbsp;&nbsp;&nbsp;7.750 | 07/01/26 | 5015 | 4068300 |
| &nbsp;&nbsp; DISH Network Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 11.750 | 11/15/27 | 975 | 1011184 |
| &nbsp;&nbsp; Gray Television, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | 07/15/26 | 200 | 183366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | 05/15/27 | 1625 | 1476785 |
| &nbsp;&nbsp; iHeartCommunications, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;6.375 | 05/01/26 | 395 | 378748 |
| &nbsp;&nbsp; Midcontinent Communications/Midcontinent Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.375 | 08/15/27 | 850 | 805982 |
| &nbsp;&nbsp; News Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;3.875 | 05/15/29 | 325 | 291162 |
| &nbsp;&nbsp; Nexstar Media, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.750 | 11/01/28 | 150 | 135052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.625 | 07/15/27 | 734 | 699269 |
| &nbsp;&nbsp; Radiate Holdco LLC/Radiate Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | 09/15/26 | 610 | 467250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | 09/15/28 | 3330 | 1733246 |
| &nbsp;&nbsp; Univision Communications, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | 05/01/29 | 400 | 344084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;5.125 | 02/15/25 | 2300 | 2241111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;6.625 | 06/01/27 | 2135 | 2091767 |
| &nbsp;&nbsp; VZ Secured Financing BV (Netherlands), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | 01/15/32 | 1800 | 1536732 |
|  |  |  |  | 37573547 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Metal Fabricate/Hardware 0.1%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Roller Bearing Co. of America, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A |  |  |  |  |
|  | 4.375% | 10/15/29 | 525 | $472639 |
| &nbsp;&nbsp; **Mining 2.0%** |  |  |  |  |
| &nbsp;&nbsp; Eldorado Gold Corp. (Turkey), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.250 | 09/01/29 | 1375 | 1240508 |
| &nbsp;&nbsp; First Quantum Minerals Ltd. (Zambia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.500 | 03/01/24 | 200 | 198125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.500 | 04/01/25 | 3605 | 3551105 |
| &nbsp;&nbsp; Hecla Mining Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.250 | 02/15/28 | 575 | 574176 |
| &nbsp;&nbsp; Hudbay Minerals, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.500 | 04/01/26 | 900 | 829125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.125 | 04/01/29 | 1195 | 1115831 |
| &nbsp;&nbsp; New Gold, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 07/15/27 | 1220 | 1137650 |
| &nbsp;&nbsp; Novelis Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.875 | 08/15/31 | 800 | 674330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 01/30/30 | 275 | 251328 |
|  |  |  |  | 9572178 |
| &nbsp;&nbsp; **Miscellaneous Manufacturing 0.4%** |  |  |  |  |
| &nbsp;&nbsp; Amsted Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.625 | 07/01/27 | 1075 | 1056736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 4.625 | 05/15/30 | 785 | 701376 |
|  |  |  |  | 1758112 |
| &nbsp;&nbsp; **Office/Business Equipment 0.1%** |  |  |  |  |
| &nbsp;&nbsp; CDW LLC/CDW Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes |  |  |  |  |
|  | 3.250 | 02/15/29 | 685 | 595497 |
| &nbsp;&nbsp; **Oil & Gas 7.7%** |  |  |  |  |
| &nbsp;&nbsp; Aethon United BR LP/Aethon United Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.250 | 02/15/26 | 975 | 970274 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 93

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Oil & Gas (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes^ | 7.875% | 12/15/24(d) | 5325 | $36210 |
| &nbsp;&nbsp; Antero Resources Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 03/01/30 | 750 | 699460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.625 | 02/01/29 | 979 | 1002823 |
| &nbsp;&nbsp; Ascent Resources Utica Holdings LLC/ARU Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.000 | 11/01/26 | 25 | 23915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 9.000 | 11/01/27 | 227 | 281070 |
| &nbsp;&nbsp; Athabasca Oil Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 9.750 | 11/01/26 | 1700 | 1802000 |
| &nbsp;&nbsp; Chesapeake Energy Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 02/01/26 | 375 | 364144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 02/01/29 | 750 | 718478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.750 | 04/15/29 | 725 | 715218 |
| &nbsp;&nbsp; CITGO Petroleum Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.000 | 06/15/25 | 1175 | 1165603 |
| &nbsp;&nbsp; CNX Resources Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.250 | 03/14/27 | 1350 | 1343924 |
| &nbsp;&nbsp; Comstock Resources, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 01/15/30 | 600 | 517770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.750 | 03/01/29 | 975 | 898292 |
| &nbsp;&nbsp; Crescent Energy Finance LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.250 | 02/15/28 | 150 | 149633 |
| &nbsp;&nbsp; CrownRock LP/CrownRock Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 05/01/29 | 500 | 461814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.625 | 10/15/25 | 575 | 562436 |
| &nbsp;&nbsp; Endeavor Energy Resources LP/EER Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.750 | 01/30/28 | 975 | 963030 |
| &nbsp;&nbsp; EQT Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.000 | 01/15/29 | 250 | 242547 |
| &nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.750 | 02/01/29 | 275 | 255829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 04/15/30 | 850 | 795475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 02/01/31 | 625 | 575440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 6.250 | 11/01/28 | 1808 | 1735840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.250 | 04/15/32 | 750 | 692695 |
| &nbsp;&nbsp; MEG Energy Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 02/01/29 | 575 | 552000 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Oil & Gas (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; MEG Energy Corp. (Canada), (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.125% | 02/01/27 | 1802 | $1842995 |
| &nbsp;&nbsp; Nabors Industries Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.250 | 01/15/26 | 975 | 948187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 01/15/28 | 1325 | 1260406 |
| &nbsp;&nbsp; Nabors Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.750 | 02/01/25 | 1400 | 1358636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.375 | 05/15/27 | 50 | 50065 |
| &nbsp;&nbsp; Occidental Petroleum Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 01/01/31 | 745 | 778818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 7.150 | 05/15/28 | 900 | 943694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 8.875 | 07/15/30 | 200 | 235205 |
| &nbsp;&nbsp; Parkland Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.500 | 10/01/29 | 525 | 450187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 05/01/30 | 1325 | 1132875 |
| &nbsp;&nbsp; Precision Drilling Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.875 | 01/15/29 | 275 | 264688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.125 | 01/15/26 | 2160 | 2138400 |
| &nbsp;&nbsp; Range Resources Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.875 | 05/15/25 | 425 | 412623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 02/15/30 | 275 | 247318 |
| &nbsp;&nbsp; Southwestern Energy Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.750 | 02/01/32 | 1150 | 1013654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.375 | 02/01/29 | 125 | 117515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.375 | 03/15/30 | 1900 | 1770619 |
| &nbsp;&nbsp; Sunoco LP/Sunoco Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.500 | 05/15/29 | 1630 | 1477721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.500 | 04/30/30 | 700 | 623979 |
| &nbsp;&nbsp; Transocean, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 01/15/26 | 1400 | 1316000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.000 | 02/01/27 | 100 | 91750 |
|  |  |  |  | 36001255 |
| &nbsp;&nbsp; **Packaging & Containers 2.1%** |  |  |  |  |
| &nbsp;&nbsp; ARD Finance SA (Luxembourg), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A, Cash coupon 6.500% or PIK 7.250% | 6.500 | 06/30/27 | 1066 | 834406 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 95

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Packaging & Containers (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.125% | 08/15/26 | 475 | $433438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | 08/15/27 | 675 | 556031 |
| &nbsp;&nbsp; Graham Packaging Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.125 | 08/15/28 | 1360 | 1194699 |
| &nbsp;&nbsp; Graphic Packaging International LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;4.125 | 08/15/24 | 300 | 295213 |
| &nbsp;&nbsp; Intelligent Packaging Holdco Issuer LP (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, Cash coupon 9.000% or PIK 9.750% | &nbsp;&nbsp;&nbsp;&nbsp;9.000 | 01/15/26 | 300 | 210375 |
| &nbsp;&nbsp; Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | 09/15/28 | 1184 | 1053760 |
| &nbsp;&nbsp; LABL, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | 11/01/28 | 425 | 384092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | 07/15/26 | 250 | 242287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;8.250 | 11/01/29 | 1225 | 1026611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 10.500 | 07/15/27 | 150 | 142647 |
| &nbsp;&nbsp; Mauser Packaging Solutions Holding Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.875 | 08/15/26 | 650 | 655688 |
| &nbsp;&nbsp; OI European Group BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.750 | 02/15/30 | 400 | 358600 |
| &nbsp;&nbsp; Owens-Brockway Glass Container, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.375 | 08/15/25 | 500 | 490287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.625 | 05/13/27 | 230 | 226109 |
| &nbsp;&nbsp; Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.375 | 10/15/28 | 625 | 555731 |
| &nbsp;&nbsp; Sealed Air Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.125 | 02/01/28 | 150 | 151398 |
| &nbsp;&nbsp; Trident TPI Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.625 | 11/01/25 | 275 | 248047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;9.250 | 08/01/24 | 275 | 270152 |
| &nbsp;&nbsp; TriMas Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.125 | 04/15/29 | 325 | 289260 |
|  |  |  |  | 9618831 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Pharmaceuticals 2.4%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; AdaptHealth LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625% | 08/01/29 | 1225 | $1065810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.125 | 03/01/30 | 325 | 289503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.125 | 08/01/28 | 670 | 635794 |
| &nbsp;&nbsp; Bausch Health Americas, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.500 | 01/31/27 | 1100 | 580111 |
| &nbsp;&nbsp; Bausch Health Cos., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 01/30/28 | 975 | 434994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 02/15/29 | 1150 | 506000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 01/30/30 | 2325 | 1011375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 02/15/31 | 2635 | 1198925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 6.250 | 02/15/29 | 4260 | 1948950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.000 | 01/15/28 | 250 | 113750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 9.000 | 12/15/25 | 500 | 393125 |
| &nbsp;&nbsp; Jazz Securities DAC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.375 | 01/15/29 | 1075 | 978250 |
| &nbsp;&nbsp; Organon & Co./Organon Foreign Debt Co-Issuer BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.125 | 04/30/28 | 450 | 408355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.125 | 04/30/31 | 900 | 810273 |
| &nbsp;&nbsp; P&L Development LLC/PLD Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.750 | 11/15/25 | 850 | 690177 |
|  |  |  |  | 11065392 |
| &nbsp;&nbsp; **Pipelines 4.6%** |  |  |  |  |
| &nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 06/15/29 | 975 | 905501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.750 | 01/15/28 | 2425 | 2325254 |
| &nbsp;&nbsp; Cheniere Energy Partners LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.000 | 03/01/31 | 1575 | 1412872 |
| &nbsp;&nbsp; Cheniere Energy, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 4.625 | 10/15/28 | 2750 | 2620826 |
| &nbsp;&nbsp; CNX Midstream Partners LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 04/15/30 | 200 | 169138 |
| &nbsp;&nbsp; DCP Midstream Operating LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.125 | 05/15/29 | 1375 | 1373343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.625 | 07/15/27 | 510 | 518970 |
| &nbsp;&nbsp; Energy Transfer LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jr. Sub. Notes, Series G(aa) | 7.125(ff) | 05/15/30(oo) | 1075 | 977343 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 97

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Pipelines (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; EQM Midstream Partners LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500% | 07/15/28 | 50 | $46128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 07/01/25 | 351 | 345692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.500 | 07/01/27 | 1275 | 1247013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 06/01/27 | 125 | 125345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 06/01/30 | 125 | 124794 |
| &nbsp;&nbsp; Global Partners LP/GLP Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.875 | 01/15/29 | 375 | 353651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.000 | 08/01/27 | 750 | 723724 |
| &nbsp;&nbsp; Rockies Express Pipeline LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 6.875 | 04/15/40 | 2050 | 1744332 |
| &nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.500 | 01/15/28 | 2054 | 1892962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.000 | 12/31/30 | 1325 | 1206868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 10/01/25 | 200 | 203038 |
| &nbsp;&nbsp; Venture Global Calcasieu Pass LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 3.875 | 08/15/29 | 985 | 878636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.125 | 08/15/31 | 285 | 252874 |
| &nbsp;&nbsp; Western Midstream Operating LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.950 | 06/01/25 | 600 | 574944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes(aa) | 4.300 | 02/01/30 | 1275 | 1167263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.500 | 08/15/48 | 75 | 65153 |
|  |  |  |  | 21255664 |
| &nbsp;&nbsp; **Real Estate 1.8%** |  |  |  |  |
| &nbsp;&nbsp; Five Point Operating Co. LP/Five Point Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 7.875 | 11/15/25 | 2200 | 1980499 |
| &nbsp;&nbsp; Greystar Real Estate Partners LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.750 | 12/01/25 | 2000 | 1975138 |
| &nbsp;&nbsp; Howard Hughes Corp. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.125 | 02/01/29 | 1175 | 1013917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.375 | 02/01/31 | 675 | 561920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 08/01/28 | 340 | 315254 |
| &nbsp;&nbsp; Hunt Cos., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.250 | 04/15/29 | 1700 | 1442888 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Real Estate (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Realogy Group LLC/Realogy Co-Issuer Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250% | 04/15/30 | 1050 | $787448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.750 | 01/15/29 | 700 | 549147 |
|  |  |  |  | 8626211 |
| &nbsp;&nbsp; **Real Estate Investment Trusts (REITs) 3.6%** |  |  |  |  |
| &nbsp;&nbsp; Diversified Healthcare Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.375 | 03/01/31 | 861 | 584195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 9.750 | 06/15/25 | 1900 | 1864619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 05/01/24 | 50 | 43409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 02/15/28 | 1375 | 837138 |
| &nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 3.500 | 03/15/31 | 125 | 88070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.000 | 10/15/27 | 2325 | 1965968 |
| &nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.500 | 06/01/25 | 1665 | 1688276 |
| &nbsp;&nbsp; Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.875 | 02/15/25 | 6650 | 6561644 |
| &nbsp;&nbsp; Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.750 | 04/15/28 | 830 | 680442 |
| &nbsp;&nbsp; VICI Properties LP/VICI Note Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.500 | 01/15/28 | 2000 | 1874229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.625 | 12/01/29 | 825 | 769369 |
|  |  |  |  | 16957359 |
| &nbsp;&nbsp; **Retail 5.0%** |  |  |  |  |
| &nbsp;&nbsp; 1011778 BC ULC/New Red Finance, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 4.000 | 10/15/30 | 2950 | 2511187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 3.875 | 01/15/28 | 438 | 400323 |
| &nbsp;&nbsp; At Home Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.125 | 07/15/29 | 1525 | 937336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.875 | 07/15/28 | 125 | 91224 |
| &nbsp;&nbsp; BCPE Ulysses Intermediate, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, Cash coupon 7.750% or PIK 8.500% | 7.750 | 04/01/27 | 150 | 111993 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 99

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#**  | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Retail (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| | | **Value**<br>|
| &nbsp;&nbsp; Brinker International, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000% | 10/01/24 |  | 675 | $660446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.875 | 05/15/23 |  | 350 | 348151 |
| &nbsp;&nbsp; Carrols Restaurant Group, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 07/01/29 |  | 700 | 534397 |
| &nbsp;&nbsp; eG Global Finance PLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.375 | 02/07/25 | EUR | 707 | 682578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 6.250 | 10/30/25 | EUR | 715 | 692836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.750 | 02/07/25 |  | 725 | 673344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 8.500 | 10/30/25 |  | 1450 | 1363000 |
| &nbsp;&nbsp; Ferrellgas LP/Ferrellgas Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.375 | 04/01/26 |  | 125 | 114980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.875 | 04/01/29 |  | 980 | 818426 |
| &nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.750 | 01/15/30 |  | 1325 | 1099862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.625 | 01/15/29 |  | 550 | 485099 |
| &nbsp;&nbsp; Foundation Building Materials, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.000 | 03/01/29 |  | 1375 | 1106017 |
| &nbsp;&nbsp; Gap, Inc. (The), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.625 | 10/01/29 |  | 1100 | 845140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.875 | 10/01/31 |  | 800 | 598829 |
| &nbsp;&nbsp; LBM Acquisition LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.250 | 01/15/29 |  | 1000 | 759777 |
| &nbsp;&nbsp; LCM Investments Holdings II LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.875 | 05/01/29 |  | 675 | 557038 |
| &nbsp;&nbsp; Park River Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.625 | 02/01/29 |  | 1725 | 1201592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.750 | 08/01/29 |  | 200 | 142102 |
| &nbsp;&nbsp; Patrick Industries, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 05/01/29 |  | 475 | 405946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 10/15/27 |  | 825 | 817264 |
| &nbsp;&nbsp; Sally Holdings LLC/Sally Capital, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.625 | 12/01/25 |  | 900 | 890992 |
| &nbsp;&nbsp; SRS Distribution, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.000 | 12/01/29 |  | 1150 | 983408 |
| &nbsp;&nbsp; Suburban Propane Partners LP/Suburban Energy Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.875 | 03/01/27 |  | 610 | 590361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000 | 06/01/31 |  | 1275 | 1113157 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Retail (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Superior Plus LP/Superior General Partner, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.500% | 03/15/29 | 1250 | $1101562 |
| &nbsp;&nbsp; White Cap Buyer LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.875 | 10/15/28 | 900 | 824112 |
|  |  |  |  | 23462479 |
| &nbsp;&nbsp; **Software 0.5%** |  |  |  |  |
| &nbsp;&nbsp; Black Knight InfoServ LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;3.625 | 09/01/28 | 1643 | 1461919 |
| &nbsp;&nbsp; Clarivate Science Holdings Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;3.875 | 07/01/28 | 1075 | 959806 |
| &nbsp;&nbsp; Dun & Bradstreet Corp. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | 12/15/29 | 150 | 133780 |
|  |  |  |  | 2555505 |
| &nbsp;&nbsp; **Telecommunications 5.0%** |  |  |  |  |
| &nbsp;&nbsp; Altice France SA (France), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;8.125 | 02/01/27 | 1355 | 1266925 |
| &nbsp;&nbsp; Digicel Group Holdings Ltd. (Jamaica), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A, Cash coupon 5.000% and PIK 3.000% (original cost $962,725; purchased 01/04/22 - 10/03/22)(f) | &nbsp;&nbsp;&nbsp;&nbsp;8.000 | 04/01/25 | 1030 | 252276 |
| &nbsp;&nbsp; Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A, Cash coupon 6.000% and PIK 7.000% (original cost $682,325; purchased 10/28/22 - 12/15/22)(f) | 13.000 | 12/31/25 | 1025 | 512325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A (original cost $627,813; purchased 06/26/19 - 09/10/19)(f) | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | 05/25/24 | 650 | 558309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A (original cost $511,875; purchased 06/03/20)(f) | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | 05/25/24 | 525 | 451270 |
| &nbsp;&nbsp; Digicel Ltd. (Jamaica), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A (original cost $5,694,040; purchased 03/07/19 - 11/21/22)(f) | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | 03/01/23 | 7768 | 3016411 |
| &nbsp;&nbsp; Iliad Holding SASU (France), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | 10/15/26 | 1820 | 1718972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.000 | 10/15/28 | 975 | 915701 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 101

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Telecommunications (cont'd.)** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Intelsat Jackson Holdings SA (Luxembourg), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes^ | 5.500% | 08/01/23(d) | 2160 | $2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A^ | 9.750 | 07/15/25(d) | 4135 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.500 | 03/15/30 | 2365 | 2139284 |
| &nbsp;&nbsp; Level 3 Financing, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.750 | 07/15/29 | 400 | 292763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.250 | 07/01/28 | 1555 | 1231912 |
| &nbsp;&nbsp; Lumen Technologies, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, Series U | 7.650 | 03/15/42 | 1055 | 694496 |
| &nbsp;&nbsp; Sprint Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.875 | 11/15/28 | 700 | 750378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 8.750 | 03/15/32 | 706 | 871685 |
| &nbsp;&nbsp; Sprint LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 7.125 | 06/15/24 | 250 | 255587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.625 | 02/15/25 | 2725 | 2828332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.875 | 09/15/23 | 1794 | 1820627 |
| &nbsp;&nbsp; Viasat, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.625 | 09/15/25 | 3100 | 2914400 |
| &nbsp;&nbsp; Zayo Group Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.000 | 03/01/27 | 120 | 95379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.125 | 03/01/28 | 1165 | 800686 |
|  |  |  |  | 23387724 |
| &nbsp;&nbsp; **Transportation 0.1%** |  |  |  |  |
| &nbsp;&nbsp; XPO Escrow Sub LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A |  |  |  |  |
|  | 7.500 | 11/15/27 | 250 | 256919 |
| &nbsp;&nbsp; **Trucking & Leasing 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Fortress Transportation & Infrastructure Investors LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A |  |  |  |  |
|  | 5.500 | 05/01/28 | 875 | 770900 |
| &nbsp;&nbsp; **TOTAL CORPORATE BONDS**<br> (cost $557,155,441) |  |  |  | 485764457 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS 4.6%**<br>&nbsp;&nbsp; **Airlines 0.3%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; United Airlines, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B Term Loan, 3 Month LIBOR + 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8.568%(c) | 04/21/28 | 1518 | $1513362 |
| &nbsp;&nbsp; **Electric 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Heritage Power LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 3 Month LIBOR + 6.000% | 10.415(c) | 07/30/26 | 2004 | 654521 |
| &nbsp;&nbsp; **Housewares 0.2%** |  |  |  |  |
| &nbsp;&nbsp; SWF Holdings I Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 3 Month LIBOR + 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;8.753(c) | 10/06/28 | 1007 | 856279 |
| &nbsp;&nbsp; **Insurance 0.3%** |  |  |  |  |
| &nbsp;&nbsp; Asurion LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New B-4 Term Loan, 1 Month LIBOR + 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;9.820(c) | 01/20/29 | 1750 | 1460156 |
| &nbsp;&nbsp; **Media 0.6%** |  |  |  |  |
| &nbsp;&nbsp; CSC Holdings LLC,<br>2022 Refinancing Term Loan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— (p) | 01/14/28 | 1500 | 1420001 |
| &nbsp;&nbsp; Diamond Sports Group LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Term Loan, 6 Month SOFR + 8.250% | 12.775(c) | 05/25/26 | 1315 | 1183481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien Term loan, 1 Month SOFR + 3.400% | &nbsp;&nbsp;&nbsp;&nbsp;8.025(c) | 08/24/26 | 3201 | 264088 |
|  |  |  |  | 2867570 |
| &nbsp;&nbsp; **Oil & Gas 0.8%** |  |  |  |  |
| &nbsp;&nbsp; Ascent Resources Utica Holdings LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien Term Loan, 3 Month LIBOR + 9.000% | 13.815(c) | 11/01/25 | 3340 | 3540400 |
| &nbsp;&nbsp; **Retail 0.3%** |  |  |  |  |
| &nbsp;&nbsp; EG America LLC (United Kingdom), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Project Becker Additional Facility, 3 Month LIBOR + 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;8.980(c) | 03/31/26 | 339 | 326483 |
| &nbsp;&nbsp; Great Outdoors Group LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term B-2 Loan, 1 Month LIBOR + 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8.320(c) | 03/06/28 | 1201 | 1178854 |
|  |  |  |  | 1505337 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 103

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS (Continued)**<br>&nbsp;&nbsp; **Software 1.2%** | **Interest** <br> **Rate**<br>| **Maturity** <br> **Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Amount** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)#** <br>| **Value**<br>|
| &nbsp;&nbsp; Boxer Parent Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Replacement Dollar Term Loan, 1 Month LIBOR + 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.320%(c) | 10/02/25 | 222 | $217420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien Incremental Term Loan, 1 Month LIBOR + 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;10.070(c) | 02/27/26 | 350 | 328125 |
| &nbsp;&nbsp; Camelot Co. (Luxembourg), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 2 Incremental Term Loans, 1 Month LIBOR + 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.517(c) | 10/30/26 | 453 | 452115 |
| &nbsp;&nbsp; Finastra USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dollar Term Loan (Second Lien), 3 Month LIBOR + 7.290% | &nbsp;&nbsp;&nbsp;&nbsp;12.115(c) | 06/13/25 | 1025 | 802428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Dollar Term Loan, 3 Month LIBOR + 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.325(c) | 06/13/24 | 2223 | 2087549 |
| &nbsp;&nbsp; Skillsoft Finance II, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 1 Month SOFR + 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.761(c) | 07/14/28 | 1712 | 1461614 |
|  |  |  |  | 5349251 |
| &nbsp;&nbsp; **Telecommunications 0.8%** |  |  |  |  |
| &nbsp;&nbsp; Intrado Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— (p) | 01/25/30 | 405 | 401963 |
| &nbsp;&nbsp; MLN US Holdco LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 6 Month SOFR + 6.440% | &nbsp;&nbsp;&nbsp;&nbsp;10.894(c) | 10/18/27 | 25 | 23952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 6 Month SOFR + 6.700%^ | &nbsp;&nbsp;&nbsp;&nbsp;11.154(c) | 10/18/27 | 57 | 39857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan^ | &nbsp;&nbsp;&nbsp;&nbsp;13.704(cc) | 10/18/27 | 4 | 2960 |
| &nbsp;&nbsp; West Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incremental B1 Term Loan, 3 Month LIBOR + 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.915(c) | 10/10/24 | 192 | 179712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term B Loan, 3 Month LIBOR + 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.825(c) | 10/10/24 | 1493 | 1398691 |
| &nbsp;&nbsp; Xplornet Communications, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Refinancing Term Loan, 1 Month LIBOR + 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.570(c) | 10/02/28 | 1770 | 1409509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan- Second Lien, 1 Month LIBOR + 7.000%^ | &nbsp;&nbsp;&nbsp;&nbsp;11.570(c) | 10/01/29 | 555 | 327450 |
|  |  |  |  | 3784094 |
| &nbsp;&nbsp; **TOTAL FLOATING RATE AND OTHER LOANS**<br> (cost $24,651,272) |  |  |  | 21530970 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | |
|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **COMMON STOCKS 1.8%**<br>&nbsp;&nbsp; **Chemicals 0.3%** | **Shares** <br>| **Value**<br>|
| &nbsp;&nbsp; TPC Group, Inc.\*^ | 67793 | $1355860 |
| &nbsp;&nbsp; **Electric Utilities 0.2%** |  |  |
| &nbsp;&nbsp; GenOn Energy Holdings, Inc. (Class A Stock) (original cost $984,219; purchased 02/28/19)^(f) | 9187 | 918700 |
| &nbsp;&nbsp; Keycon Power Holdings LLC^ | 2600 | 329940 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248640 |
| &nbsp;&nbsp; **Gas Utilities 0.3%** |  |  |
| &nbsp;&nbsp; Ferrellgas Partners LP (Class B Stock)^ | 7475 | 1402919 |
| &nbsp;&nbsp; **Hotels, Restaurants & Leisure 0.1%** |  |  |
| &nbsp;&nbsp; CEC Entertainment, Inc. | 22321 | 334815 |
| &nbsp;&nbsp; **Oil, Gas & Consumable Fuels 0.6%** |  |  |
| &nbsp;&nbsp; Chesapeake Energy Corp. | 30680 | 2660570 |
| &nbsp;&nbsp; **Wireless Telecommunication Services 0.3%** |  |  |
| &nbsp;&nbsp; Intelsat Emergence SA (Luxembourg)\* | 59486 | 1402888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS**<br> (cost $5,224,707) |  | 8405692 |
| &nbsp;&nbsp; **PREFERRED STOCK 0.6%** |  |  |
| &nbsp;&nbsp; **Gas Utilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31^<br> (cost $2,571,250) | 2625 | 2625000 |
|  | **Units** |  |
| &nbsp;&nbsp; **RIGHTS\* 0.0%** |  |  |
| &nbsp;&nbsp; **Wireless Telecommunication Services** |  |  |
| &nbsp;&nbsp; Intelsat Jackson Holdings SA, Series A (Luxembourg), CVR, expiring 12/05/25^ | 6229 | 59368 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 105

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | |
|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **RIGHTS\* (Continued)**<br>&nbsp;&nbsp; **Wireless Telecommunication Services (cont'd.)** | **Units** <br>| **Value**<br>|
| &nbsp;&nbsp; Intelsat Jackson Holdings SA, Series B (Luxembourg), CVR, expiring 12/05/25^ | 6229 | $12330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL RIGHTS**<br> (cost $0) |  | 71698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS**<br> (cost $630,521,414) |  | 559519806 |
|  | **Shares** |  |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENT 4.3%** |  |  |
| &nbsp;&nbsp; **UNAFFILIATED FUND** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dreyfus Government Cash Management (Institutional Shares)<br> (cost $20,160,100) | 20160100 | 20160100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS 124.2%**<br> (cost $650,681,514) |  | 579679906 |
| &nbsp;&nbsp; Liabilities in excess of other assets(z) (24.2)% |  | (113099701) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466580205 |

---

------

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. 

---

| | |
|:---|:---|
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $7,512,563 and 1.6% of net assets.  |

---

(aa) Represents security, or a portion thereof, with aggregate value of $166,627,039 segregated as collateral for amount of
$120,000,000 borrowed and outstanding as of January 31, 2023.

(c) Variable rate instrument. The interest rate shown reflects the rate in effect at January 31, 2023.

(cc) Variable rate instrument. The rate shown is based on the latest available information as of January 31, 2023. 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.

(f) Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an
affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $18,134,149. The aggregate value of $6,287,375 is 1.3% of net assets.

(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified
date. Rate shown is the rate in effect as of period end.

(oo) Perpetual security. Maturity date represents next call date.

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

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

(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 January 31, 2023:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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:** |  |  |  |
| 48 | 5 Year U.S. Treasury Notes | Mar. 2023 | $5243625 | $(1934) |
| 82 | 10 Year U.S. Treasury Notes | Mar. 2023 | 9390282 | (3952) |
| 33 | 20 Year U.S. Treasury Bonds | Mar. 2023 | 4285875 | (5202) |
| 31 | 30 Year U.S. Ultra Treasury Bonds | Mar. 2023 | 4394250 | (8763) |
|  |  |  |  | $(19851) |

---

**Forward foreign currency exchange contracts outstanding at January 31, 2023:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase**<br> **Contracts** | **Counterparty** | **Notional**<br> **Amount**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)**  | **Notional**<br> **Amount**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)**  | **Value at**<br> **Settlement**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Date**  | **Current**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | **Unrealized**<br> **Appreciation** | **Unrealized<br>Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |
|  British Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | BOA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GBP | 579 | $713117 | $713234 | $117 | $— |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | MSI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1618 | 1759706 | 1759395 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(311) |
|  |  |  |  | $2472823 | $2472629 | 117 | (311) |
| **Sale**<br> **Contracts** | **Counterparty** | **Notional**<br> **Amount**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)**  | **Notional**<br> **Amount**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(000)**  | **Value at**<br> **Settlement**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Date**  | **Current**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**  | **Unrealized**<br> **Appreciation** | **Unrealized**<br> **Depreciation** |
|  **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |  |  |  |  |  |
|  British Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | MSI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GBP | 579 | $693374 | $713234 | $— | $(19860) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 03/02/23 | BOA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GBP | 579 | 713545 | 713641 |  | (96) |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | TD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR | 1618 | 1718517 | 1759395 |  | (40878) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 03/02/23 | MSI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR | 1618 | 1762959 | 1762333 | 626 |  |
|  |  |  |  | $4888395 | $4948603 | 626 | (60834) |
|  |  |  |  |  |  | $743 | $(61145) |

---

**Credit default swap agreement outstanding at January 31, 2023:** 

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 107

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

**Credit default swap agreement outstanding at January 31, 2023: (continued)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination**<br>**Date** | **Fixed**<br>**Rate** | **Notional**<br>**Amount**<br>**(000)#(3)** | **Value at**<br>**Trade Date** | **Value at**<br>**January 31,**<br>**2023** | **Unrealized**<br>**Appreciation**<br> **(Depreciation)** |
|  **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** |  |  |
|  CDX.NA.HY.39.V1 | 12/20/27 | 5.000%(Q) | 884 | $(23164) | $(29677) | $(6513) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** | **Termination**<br>**Date** | **Fixed**<br>**Rate** | **Notional**<br>**Amount**<br>**(000)#(3)** | **Implied Credit**<br>**Spread at**<br>**January 31,**<br>**2023(4)** | **Value at**<br>**Trade Date** | **Value at**<br>**January 31,**<br>**2023** | **Value at**<br>**January 31,**<br>**2023** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
|  **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** |  |  |
|  CDX.NA.HY.38.V2 | 06/20/27 | 5.000%(Q) | 49451 | 3.908% | $(806233) |  | $2248540 | $3054773 |

---

The Fund entered into credit default swaps ("CDS") to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer's default or the reference entity's credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.

(1) If the Fund is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of
that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced
index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(2) If the Fund is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms
of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced
index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

(3) Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection
or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

(4) Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap
agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit
spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

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.

**Total return swap agreements outstanding at January 31, 2023:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference Entity** | **Financing**<br>**Rate** | **Counterparty** | **Termination<br>Date** | **Long**<br> **(Short)**<br> **Notional**<br> **Amount**<br> &nbsp;&nbsp;&nbsp;&nbsp;**(000)#(1)**  | **Fair**<br>**Value** | **Upfront**<br>**Premiums**<br>**Paid**<br>**(Received)** | **Unrealized**<br> **Appreciation**<br> **(Depreciation)(2)** |
|  **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** |  |  |  |  |  |  |
|  iBoxx USD Investment Grade Index(T) | 1 Day<br>SOFR(Q)/<br>4.310% | GSI | 06/20/23 | (11625) | $5662 | $— | $5662 |
|  iBoxx USD Investment Grade Index(T) | 1 Day<br>SOFR(Q)/<br>4.310% | GSI | 09/20/23 | (11625) | (179) |  | (179) |
|  |  |  |  |  | $5483 | $— | $5483 |

---

(1) On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments
for any negative return) and pays the financing rate. On a short total return swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate.

(2) Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation).

**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 | $— | $— | $5662 | $(179) |

---

**<u>Summary of Collateral for Centrally Cleared/Exchange-traded Derivatives:</u>** 

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** |
|  CGM | $4425000 | $— |

---

**<u>Fair Value Measurements:</u>** 

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 Fixed Income Closed-End Funds 109

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

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 January 31, 2023 in valuing such portfolio securities:

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities** |  |  |  |
|  **Assets** |  |  |  |
|  **Long-Term Investments** |  |  |  |
|  Asset-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Collateralized Loan Obligations | $— | $41121989 | $— |
|  Corporate Bonds |  | 485728241 | 36216 |
|  Floating Rate and other Loans |  | 20758740 | 772230 |
|  Common Stocks | 2660570 | 1737703 | 4007419 |
|  Preferred Stock |  |  | 2625000 |
|  Rights |  |  | 71698 |
|  **Short-Term Investment** |  |  |  |
|  Unaffiliated Fund | 20160100 |  |  |
|  **Total** | $**22820670** | $**549346673** | $**7512563** |
|  **Other Financial Instruments\*** |  |  |  |
|  **Assets** |  |  |  |
|  OTC Forward Foreign Currency Exchange Contracts | $— | $743 | $— |
|  Centrally Cleared Credit Default Swap Agreement |  | 3054773 |  |
|  OTC Total Return Swap Agreement |  | 5662 |  |
|  **Total** | $**—** | $**3061178** | $**—** |
|  **Liabilities** |  |  |  |
|  Futures Contracts | $(19851) | $— | $— |
|  OTC Forward Foreign Currency Exchange Contracts |  | (61145) |  |
|  Centrally Cleared Credit Default Swap Agreement |  | (6513) |  |
|  OTC Total Return Swap Agreement |  | (179) |  |
|  **Total** | $**(19851)** | $**(67837)** | $**—** |

---

------

\* 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 the unrealized appreciation (depreciation) on the instrument, and OTC swap contracts which are recorded at fair value. 

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

---

| | | | |
|:---|:---|:---|:---|
|  | **Corporate Bonds** | **Floating Rate**<br>**and other Loans** | **Common Stocks** |
|  **Balance as of 07/31/22** | $36216 | $408984 | $1340510 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | |
|:---|:---|:---|:---|
|  | **Corporate Bonds** | **Floating Rate**<br> **and other Loans** | **Common Stocks** |
|  Realized gain (loss) | $— | $— | $415845 |
|  Change in unrealized appreciation (depreciation) | (201767) | (123594) | 914164 |
|  Purchases/Exchanges/Issuances |  | 656526 | 734508 |
|  Sales/Paydowns |  | (172059) | (1997408) |
|  Accrued discount/premium | 201767 | 2373 |  |
|  Transfers into Level 3\* |  |  | 2599800 |
|  Transfers out of Level 3\* |  |  |  |
|  **Balance as of 01/31/23** | $36216 | $772230 | $4007419 |
|  Change in unrealized appreciation (depreciation) relating to securities still held at reporting period end | $(201767) | $(123608) | $914164 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Preferred Stock** | **Rights** | **Warrants** |
|  **Balance as of 07/31/22** | $2625000 | $71698 | $144 |
|  Realized gain (loss) |  |  |  |
|  Change in unrealized appreciation (depreciation) |  |  | (144) |
|  Purchases/Exchanges/Issuances |  |  |  |
|  Sales/Paydowns |  |  |  |
|  Accrued discount/premium |  |  |  |
|  Transfers into Level 3\* |  |  |  |
|  Transfers out of Level 3\* |  |  |  |
|  **Balance as of 01/31/23** | $2625000 | $71698 | $— |
|  Change in unrealized appreciation (depreciation) relating to securities still held at reporting period end | $— | $— | $— |

---

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Level 3**<br> **Securities\*\*** | **Fair Value as of**<br>**January 31, 2023** | **Valuation**<br> **Approach** | **Valuation**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Methodology**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unobservable** <br> **Inputs** |
|  Corporate Bonds | $6 | Market | Contingent Value | Contingent Value |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 111

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Level 3**<br> **Securities\*\*** | **Fair Value as of**<br> **January 31, 2023** | **Valuation**<br> **Approach** | **Valuation**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Methodology**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Unobservable** <br> **Inputs** |
|  Corporate Bonds | $36210 | Market | Transaction Based | Unadjusted Last Traded Price |
|  Common Stocks | 329940 | Market | Enterprise Value | Discount Rate |
|  Common Stocks | 1355860 | Market | Enterprise Value | Implied Equity Value |
|  Common Stocks | 1402919 | Market | Transaction Based/Broker Quote | Allocation Rate |
|  Preferred Stock | 2625000 | Market | Transaction Based | Unadjusted Purchase Price |
|  Rights | 71698 | Market | Contingent Value | Contingent Value |
|  | $5821633 |  |  |  |

---

\*\* The table does not include Level 3 securities and/or derivatives that are valued by independent pricing vendors or brokers. As of January 31, 2023, the aggregate value of these securities and/or derivatives was $1,690,930. The unobservable inputs for these investments were not developed by the Fund and are not readily available (e.g. single broker quotes). 

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

The industry classification of investments and liabilities in excess of other assets shown as a percentage of net assets as of January 31, 2023 were as follows:

---

| | |
|:---|:---|
|  Collateralized Loan Obligations | 8.8 |
|  Media | 8.6 |
|  Oil & Gas | 8.5 |
|  Commercial Services | 5.9 |
|  Telecommunications | 5.8 |
|  Home Builders | 5.7 |
|  Electric | 5.6 |
|  Retail | 5.3 |
|  Pipelines | 4.6 |
|  Diversified Financial Services | 4.4 |
|  Unaffiliated Fund | 4.3 |
|  Foods | 3.9 |
|  Aerospace & Defense | 3.9 |
|  Chemicals | 3.9 |
|  Healthcare-Services | 3.7 |
|  Real Estate Investment Trusts (REITs) | 3.6 |
|  Entertainment | 3.5 |
|  Pharmaceuticals | 2.4 |
|  Packaging & Containers | 2.1 |
|  Mining | 2.0 |
|  Building Materials | 2.0 |
|  Auto Manufacturers | 2.0 |

---

---

| | |
|:---|:---|
|  Lodging | 1.9 |
|  Real Estate | 1.8 |
|  Software | 1.7 |
|  Airlines | 1.5 |
|  Internet | 1.5 |
|  Healthcare-Products | 1.3 |
|  Banks | 1.2 |
|  Auto Parts & Equipment | 1.1 |
|  Machinery-Diversified | 0.9 |
|  Gas Utilities | 0.9 |
|  Housewares | 0.8 |
|  Computers | 0.8 |
|  Leisure Time | 0.7 |
|  Electrical Components & Equipment | 0.6 |
|  Gas | 0.6 |
|  Oil, Gas & Consumable Fuels | 0.6 |
|  Insurance | 0.5 |
|  Apparel | 0.5 |
|  Iron/Steel | 0.5 |
|  Household Products/Wares | 0.4 |
|  Advertising | 0.4 |
|  Distribution/Wholesale | 0.4 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

**<u>Industry Classification (continued)</u>:** 

---

| | |
|:---|:---|
|  Environmental Control | 0.4 |
|  Engineering & Construction | 0.4 |
|  Miscellaneous Manufacturing | 0.4 |
|  Electronics | 0.4 |
|  Wireless Telecommunication Services | 0.3 |
|  Electric Utilities | 0.2 |
|  Agriculture | 0.2 |
|  Trucking & Leasing | 0.2 |
|  Machinery-Construction & Mining | 0.1 |
|  Office/Business Equipment | 0.1 |
|  Metal Fabricate/Hardware | 0.1 |
|  Coal | 0.1 |

---

---

| | |
|:---|:---|
|  Hotels, Restaurants & Leisure | 0.1% |
|  Transportation | 0.1 |
|  Home Furnishings | 0.0 \* |
|  | 124.2 |
|  Liabilities in excess of other assets | (24.2) |
|  | 100.0% |

---

------

\* Less than +/- 0.05% 

**<u>Effects of Derivative Instruments on the Financial Statements and Primary Underlying Risk Exposure:</u>** 

The Fund invested in derivative instruments during the reporting period. The primary types of risk associated with these derivative instruments are credit contracts risk, foreign exchange contracts risk and interest rate contracts 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 January 31, 2023 as presented in the Statement of Assets and Liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| **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 | $3054773 \* | Due from/to broker-variation margin swaps | $6513 \* |
|  Foreign exchange contracts | Unrealized appreciation on OTC forward foreign currency exchange contracts | 743 | Unrealized depreciation on OTC forward foreign currency exchange contracts | 61145 |
|  Interest rate contracts |  |  | Due from/to broker-variation margin futures | 19851 \* |
|  Interest rate contracts | Unrealized appreciation on OTC swap agreements | 5662 | Unrealized depreciation on OTC swap agreements | 179 |
|  |  | $&nbsp;&nbsp;&nbsp;&nbsp;3061178 |  | $87688 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 113

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

\* 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 January 31, 2023 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** |
| **Derivatives not accounted for as hedging**<br> **instruments, carried at fair value** | **Forward**<br> **Currency**<br> **Exchange**<br> **Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Swaps**  |
|  Credit contracts | $— | $908582 |
|  Foreign exchange contracts | 30323 |  |
|  Interest rate contracts |  | (119486) |
|  **Total** | $30323 | $789096 |

---

---

| | | | |
|:---|:---|:---|:---|
| **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** | **Futures** | **Forward**<br> **Currency**<br> **Exchange**<br> **Contracts** | **Swaps** |
|  Credit contracts | $— | $— | $1935069 |
|  Foreign exchange contracts |  | (118271) |  |
|  Interest rate contracts | (19851) |  | 5483 |
|  **Total** | $(19851) | $(118271) | $1940552 |

---

For the six months ended January 31, 2023, the Fund's average volume of derivative activities is as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Derivative Contract Type** | **Average Volume of Derivative Activities\*** |
| &nbsp;&nbsp; Futures Contracts - Long Positions (1) | $7771344 |
| &nbsp;&nbsp; Forward Foreign Currency Exchange Contracts - Purchased (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2363061 |
| &nbsp;&nbsp; Forward Foreign Currency Exchange Contracts - Sold (2) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4707010 |
| &nbsp;&nbsp; Credit Default Swap Agreements - Buy Protection (1) | &nbsp;&nbsp;&nbsp;&nbsp;11798044 |
| &nbsp;&nbsp; Credit Default Swap Agreements - Sell Protection (1) | &nbsp;&nbsp;&nbsp;&nbsp;50856000 |
| &nbsp;&nbsp; Total Return Swap Agreements (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7750000 |

---

\* Average volume is based on average quarter end balances as noted for the six months ended January 31, 2023.

(1) Notional Amount in USD.

(2) Value at Settlement Date.

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

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

as of January 31, 2023

<u>**Financial Instruments/Transactions—Summary of Offsetting and Netting Arrangements:**</u> 

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> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Assets(1)**  | **Gross Amounts of**<br> **Recognized**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Liabilities(1)**  | **Net Amounts of**<br> **Recognized**<br> **Assets/(Liabilities)** | **Collateral**<br> **Pledged/(Received)(2)** | **Net Amount** |
|  BOA | $117 | $(96) | $21 | $– | $21 |
|  GSI | 5662 | (179) | 5483 | – | 5483 |
|  MSI | 626 | (20171) | (19545) | – | (19545) |
|  TD |  | (40878) | (40878) | – | (40878) |
|  | $6405 | $(61324) | $(54919) | $– | $(54919) |

---

(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 and the Fund's OTC derivative exposure by counterparty.

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 115

------

**PGIM High Yield Bond Fund, Inc.** 

**Statement of Assets & Liabilities** (unaudited)

as of January 31, 2023

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Assets** | |
| &nbsp;&nbsp; Unaffiliated investments (cost $650,681,514) | $579679906 |
| &nbsp;&nbsp; Cash | 40769 |
| &nbsp;&nbsp; Foreign currency, at value (cost $197,099) | 196505 |
| &nbsp;&nbsp; Dividends and interest receivable | 9822014 |
| &nbsp;&nbsp; Deposit with broker for centrally cleared/exchange-traded derivatives | 4425000 |
| &nbsp;&nbsp; Receivable for investments sold | 384620 |
| &nbsp;&nbsp; Due from broker—variation margin swaps | 220287 |
| &nbsp;&nbsp; Unrealized appreciation on OTC swap agreements | 5662 |
| &nbsp;&nbsp; Unrealized appreciation on OTC forward foreign currency exchange contracts | 743 |
| &nbsp;&nbsp; Prepaid expenses | 1948 |
| &nbsp;&nbsp; **Total Assets** | 594777454 |
| &nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp; Loan payable | 120000000 |
| &nbsp;&nbsp; Payable for investments purchased | 6847058 |
| &nbsp;&nbsp; Interest payable | 507630 |
| &nbsp;&nbsp; Management fee payable | 393048 |
| &nbsp;&nbsp; Accrued expenses and other liabilities | 297705 |
| &nbsp;&nbsp; Unrealized depreciation on OTC forward foreign currency exchange contracts | 61145 |
| &nbsp;&nbsp; Deferred directors' fees and directors' fees payable | 54308 |
| &nbsp;&nbsp; Due to broker—variation margin futures | 19851 |
| &nbsp;&nbsp; Exchange listing fees payable | 16325 |
| &nbsp;&nbsp; Unrealized depreciation on OTC swap agreements | 179 |
| &nbsp;&nbsp; **Total Liabilities** | 128197249 |
| &nbsp;&nbsp; **Net Assets** | $466580205 |
| &nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common stock, at par | $33257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 621044757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (154497809) |
| &nbsp;&nbsp; **Net assets, January 31, 2023** | $466580205 |
| &nbsp;&nbsp; Net asset value per share<br> ($466,580,205 ÷ 33,256,724 shares of common stock issued and outstanding) | $14.03 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

**Statement of Operations** (unaudited)

Six Months Ended January 31, 2023

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Net Investment Income (Loss)** | |
| &nbsp;&nbsp; Income |  |
| &nbsp;&nbsp; Interest income (net of $4,352 foreign withholding tax) | $19956031 |
| &nbsp;&nbsp; Unaffiliated dividend income | 681965 |
| &nbsp;&nbsp; **Total income** | 20637996 |
| &nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp; Management fee | 2316760 |
| &nbsp;&nbsp; Interest expense | 2549746 |
| &nbsp;&nbsp; Professional fees | 53279 |
| &nbsp;&nbsp; Shareholders' reports | 51173 |
| &nbsp;&nbsp; Custodian and accounting fees | 38699 |
| &nbsp;&nbsp; Audit fee | 22257 |
| &nbsp;&nbsp; Exchange listing fees | 16325 |
| &nbsp;&nbsp; Transfer agent's fees and expenses | 10260 |
| &nbsp;&nbsp; Directors' fees | 6008 |
| &nbsp;&nbsp; Miscellaneous | 15135 |
| &nbsp;&nbsp; **Total expenses** | 5079642 |
| &nbsp;&nbsp; Net investment income (loss) | 15558354 |
| &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 | (845883) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward currency contract transactions | 30323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreement transactions | 789096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | 1351 |
|  | (25113) |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | (10168845) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | (19851) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward currency contracts | (118271) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreements | 1940552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 865 |
|  | (8365550) |
| &nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | (8390663) |
| &nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $7167691 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 117

------

**PGIM High Yield Bond Fund, Inc.** 

**Statements of Changes in Net Assets** (unaudited)

---

| | | |
|:---|:---|:---|
| <br>&nbsp;&nbsp; **Increase (Decrease) in Net Assets** | **Six Months Ended**<br> **January 31, 2023**<br> | **Year Ended**<br> **July 31, 2022**<br> |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $15558354 | $32088257 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | (25113) | 8627494 |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | (8365550) | (91127001) |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 7167691 | (50411250) |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings | (20951736) | (35564527) |
| &nbsp;&nbsp; Tax return of capital distributions |  | (6338945) |
| &nbsp;&nbsp; Total dividends and distributions | (20951736) | (41903472) |
| &nbsp;&nbsp; Total increase (decrease) | (13784045) | (92314722) |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 480364250 | 572678972 |
| &nbsp;&nbsp; End of period | $466580205 | $480364250 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

**Statement of Cash Flows** (unaudited)

Six Months Ended January 31, 2023

---

| | |
|:---|:---|
|  **Cash Flows Provided By / (Used For) Operating Activities:** |  |
|  Net increase (decrease) in net assets resulting from operations | $7167691 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Adjustments To Reconcile Net Increase (Decrease) In Net Assets Resulting From<br>Operations To Net Cash Provided By / (Used For) Operating Activities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from disposition of long-term portfolio investments, net of amounts receivable | 64179462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases of long-term portfolio investments, net of amounts payable | (86623503) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net proceeds (purchases) of short-term portfolio investments | 26583854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net premiums (paid) received for swap agreements | 2733849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of premium and accretion of discount on portfolio investments | (1195939) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on investment transactions | 845883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on forward currency contract transactions | (30323) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on swap agreement transactions | (789096) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on foreign currency transactions | (1351) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on investments | 10168845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on futures transactions | 19851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on forward currency contracts | 118271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on swap agreements | (1940552) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on foreign currencies | (865) |
| &nbsp;&nbsp;&nbsp;&nbsp;**(Increase) Decrease In Assets:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends and interest receivable | (409807) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses | 231591 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Increase (Decrease) In Liabilities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest payable | 216031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Management fee payable | (2528) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other liabilities | 162751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends payable | (81902) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred directors' fees and directors' fees payable | 412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchange listing fees payable | 16325 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total adjustments | 14201259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by (used for) operating activities | 21368950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Effect of exchange rate changes on cash | 32539 |
|  **Cash Flows Provided By (Used For) Financing Activities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash paid on distributions from distributable earnings | (20951736) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by (used for) financing activities | (20951736) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in cash and restricted cash, including foreign currency | 449753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash and restricted cash at beginning of period, including foreign currency | 4432808 |
|  **Cash And Restricted Cash At End Of Period, Including Foreign Currency** | $4882561 |
|  **Supplemental Disclosure of Cash Flow Information** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash paid during the period for interest expense | $2333715 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 119

------

**PGIM High Yield Bond Fund, Inc.** 

**Statement of Cash Flows** (unaudited) (continued)

Six Months Ended January 31, 2023

**Reconciliation Of Cash And Restricted Cash Reported With The Statement Of Assets And Liabilities To The Statement Of Cash Flows:** 

---

| | |
|:---|:---|
|  | **January 31, 2023** |
|  &nbsp;&nbsp;&nbsp;&nbsp;Cash | $40769 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency, at value | 196505 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash: |  |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Deposit with broker for centrally cleared/exchange-traded derivatives | 4425000 |
| &nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;Due from broker-variation margin swaps | 220287 |
|  &nbsp;&nbsp;&nbsp;&nbsp;**Total Cash and Restricted Cash, Including Foreign Currency** | $4882561 |

---

See Notes to Financial Statements.

------

**PGIM High Yield Bond Fund, Inc.** 

**Financial Highlights** (unaudited) (continued)

Six Months Ended January 31, 2023

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Six**<br> **Months**<br> **Ended**<br> **January 31,** | **Year**<br> **Ended**<br> **July 31,** | **Two**<br> **Months**<br> **Ended**<br> **July 31,** | **Year Ended May 31,** | **Year Ended May 31,** | **Year Ended May 31,** | **Year Ended May 31,** |
|  | **2023** | **2022** | **2021** | **2021** | **2020** | **2019** | **2018** |
| &nbsp;&nbsp;&nbsp;**Per Share Operating Performance<sup>(a)</sup>:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Net Asset Value, Beginning of Period** | $14.44 | $17.22 | $17.15 | $15.05 | $16.20 | $16.29 | $16.84 |
| &nbsp;&nbsp;&nbsp;**Income (loss) from investment operations:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 0.47 | 0.96 | 0.17 | 1.08 | 1.13 | 0.91 | 0.90 |
| &nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investment and foreign currency transactions | (0.25) | (2.48) | 0.11 | 2.28 | (1.03) | 0.07 | (0.36) |
| &nbsp;&nbsp;&nbsp;Total from investment operations | 0.22 | (1.52) | 0.28 | 3.36 | 0.10 | 0.98 | 0.54 |
| &nbsp;&nbsp;&nbsp;**Less Dividends and Distributions:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Dividends from net investment income | (0.63) | (1.07) | (0.18) | (1.12) | (1.23) | (1.07) | (1.09) |
| &nbsp;&nbsp;&nbsp;Tax return of capital distributions | - | (0.19) | (0.03) | (0.14) | (0.02) | - | - |
| &nbsp;&nbsp;&nbsp;Total dividends and distributions | (0.63) | (1.26) | (0.21) | (1.26) | (1.25) | (1.07) | (1.09) |
| &nbsp;&nbsp;&nbsp;Net asset value, end of period | $14.03 | $14.44 | $17.22 | $17.15 | $15.05 | $16.20 | $16.29 |
| &nbsp;&nbsp;&nbsp;Market price, end of period | $13.06 | $13.02 | $16.19 | $16.18 | $13.38 | $13.93 | $14.07 |
| &nbsp;&nbsp;&nbsp;**Total Return<sup>(b)</sup>:** | 5.56% | (12.48)% | 1.35% | 31.72% | 4.84% | 6.84% | (2.89)% |
| &nbsp;&nbsp;&nbsp;**Ratios/Supplemental Data:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net assets, end of period (000) | $466580 | $480364 | $572679 | $570258 | $500657 | $538869 | $541660 |
| &nbsp;&nbsp;&nbsp;Average net assets (000) | $460001 | $533901 | $573494 | $545673 | $533714 | $539282 | $550742 |
| &nbsp;&nbsp;&nbsp;Ratios to average net assets<sup>(c)</sup>: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Expenses after waivers and/or expense reimbursement<sup>(d)</sup> | 2.19 %<sup>(e)</sup> | 1.48% | 1.43 %<sup>(f)</sup> | 1.45% | 1.96% | 2.21% | 1.84% |
| &nbsp;&nbsp;&nbsp;Expenses before waivers and/or expense reimbursement<sup>(d)</sup> | 2.19 %<sup>(e)</sup> | 1.48% | 1.43 %<sup>(f)</sup> | 1.45% | 1.96% | 2.21% | 1.84% |
| &nbsp;&nbsp;&nbsp;Net investment income (loss) | 6.71 %<sup>(e)</sup> | 6.01% | 5.86 %<sup>(f)</sup> | 6.58% | 7.03% | 5.58% | 5.43% |
| &nbsp;&nbsp;&nbsp;Portfolio turnover rate<sup>(g)</sup> | 9% | 30% | 7% | 56% | 60% | 87% | 72% |
| &nbsp;&nbsp;&nbsp;Asset coverage | 489% | 500% | 416% | 400% | 378% | 399% | 428% |
| &nbsp;&nbsp;&nbsp;Total debt outstanding at period-end (000) | $120000 | $120000 | $181000 | $190000 | $180000 | $180000 | $165000 |

---

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

(b) Total return is calculated assuming a purchase of common stock at the current market price on the first day and a sale at
the closing market price on the last day for the period reported. Dividends are assumed, for the purpose of this calculation, to be reinvested at prices obtainable under the Fund's dividend reinvestment plan. This amount does not reflect
brokerage commissions or sales load. Total returns for periods less than one full year are not annualized.

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

(d) Includes interest expense of 1.10%, 0.35%, 0.28%, 0.30%, 0.81%, 1.06%, and 0.71%, for the six months ended
January 31, 2023, year ended July 31, 2022, two months ended July 31, 2021 and years ended May 31, 2021, 2020, 2019, and 2018, respectively.

(e) Annualized.

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 121

------

**PGIM High Yield Bond Fund, Inc.** 

**Financial Highlights** (unaudited) (continued)

Six Months Ended January 31, 2023

(f) Annualized, with the exception of certain non-recurring expenses.

(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 Short Duration High Yield Opportunities Fund** 

**Schedule of Investments** (unaudited)

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **LONG-TERM INVESTMENTS 115.5%**<br>&nbsp;&nbsp; **ASSET-BACKED SECURITIES 8.1%**<br>&nbsp;&nbsp; **Collateralized Loan Obligations** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Atlas Static Senior Loan Fund Ltd. (Cayman Islands),<br>Series 2022-01A, Class A, 144A, 3 Month SOFR + 2.600% (Cap N/A, Floor 2.600%) | 7.258%(c) | 07/15/30 | 4117 | $4114242 |
| &nbsp;&nbsp; CIFC Funding Ltd. (Cayman Islands),<br>Series 2018-02A, Class A1, 144A, 3 Month LIBOR + 1.040% (Cap N/A, Floor 0.000%) | 5.848(c) | 04/20/31 | 2500 | 2480372 |
| &nbsp;&nbsp; Guggenheim CLO STAT Ltd. (Cayman Islands),<br>Series 2022-01A, Class A1A, 144A, 3 Month SOFR + 2.590% (Cap N/A, Floor 2.590%) | 6.709(c) | 10/25/31 | 4000 | 3997841 |
| &nbsp;&nbsp; KKR Static CLO Ltd. (Cayman Islands),<br>Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.220% (Cap N/A, Floor 2.220%) | 6.738(c) | 10/20/31 | 4000 | 3998408 |
| &nbsp;&nbsp; Madison Park Funding Ltd. (Cayman Islands),<br>Series 2015-18A, Class ARR, 144A, 3 Month LIBOR + 0.940% (Cap N/A, Floor 0.940%) | 5.755(c) | 10/21/30 | 3985 | 3952383 |
| &nbsp;&nbsp; Neuberger Berman CLO Ltd. (Cayman Islands),<br>Series 2014-17A, Class AR2, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 1.030%) | 5.845(c) | 04/22/29 | 2202 | 2188662 |
| &nbsp;&nbsp; OFSI BSL Ltd. (Cayman Islands),<br>Series 2023-12A, Class A1, 144A | 0.000(cc) | 01/20/35 | 2000 | 2000000 |
| &nbsp;&nbsp; Palmer Square CLO Ltd. (Cayman Islands),<br>Series 2015-02A, Class A1R2, 144A, 3 Month LIBOR + 1.100% (Cap N/A, Floor 0.000%) | 5.908(c) | 07/20/30 | 2373 | 2359167 |
| &nbsp;&nbsp; Palmer Square Loan Funding Ltd. (Cayman Islands),<br>Series 2022-03A, Class A1A, 144A, 3 Month SOFR + 1.820% (Cap N/A, Floor 1.820%) | 5.825(c) | 04/15/31 | 3500 | 3493180 |
| &nbsp;&nbsp; Signal Peak CLO Ltd.,<br>Series 2018-05A, Class A, 144A, 3 Month LIBOR + 1.110% (Cap N/A, Floor 1.110%) | 5.928(c) | 04/25/31 | 2000 | 1975745 |
| &nbsp;&nbsp; Voya CLO Ltd. (Cayman Islands),<br>Series 2015-03A, Class A1R, 144A, 3 Month LIBOR + 1.190% (Cap N/A, Floor 1.190%) | 5.998(c) | 10/20/31 | 4000 | 3972771 |
| &nbsp;&nbsp; **TOTAL ASSET-BACKED SECURITIES**<br>(cost $34,410,352) |  |  |  | 34532771 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 123

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS 98.2%**<br>&nbsp;&nbsp; **Aerospace & Defense 3.0%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Bombardier, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000% | 02/15/28 | 1425 | $1348406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.125 | 06/15/26 | 1200 | 1195500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 12/01/24 | 1981 | 2019431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 03/15/25 | 1042 | 1042000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 02/01/29 | 500 | 498125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.875 | 04/15/27 | 375 | 375000 |
| &nbsp;&nbsp; Spirit AeroSystems, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 7.500 | 04/15/25 | 825 | 827728 |
| &nbsp;&nbsp; TransDigm UK Holdings PLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.875 | 05/15/26 | 650 | 642720 |
| &nbsp;&nbsp; TransDigm, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.500 | 11/15/27 | 2900 | 2769455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 7.500 | 03/15/27 | 775 | 780926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.250 | 03/15/26 | 1425 | 1424470 |
|  |  |  |  | 12923761 |
| &nbsp;&nbsp; **Airlines 1.5%** |  |  |  |  |
| &nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty IP Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.500 | 04/20/26 | 4700 | 4597187 |
| &nbsp;&nbsp; Hawaiian Brand Intellectual Property |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ltd./HawaiianMiles Loyalty Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750 | 01/20/26 | 500 | 476250 |
| &nbsp;&nbsp; United Airlines, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.375 | 04/15/26 | 1480 | 1405879 |
|  |  |  |  | 6479316 |
| &nbsp;&nbsp; **Apparel 0.6%** |  |  |  |  |
| &nbsp;&nbsp; Hanesbrands, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.875 | 05/15/26 | 893 | 834960 |
| &nbsp;&nbsp; William Carter Co. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.625 | 03/15/27 | 1797 | 1753363 |
|  |  |  |  | 2588323 |
| &nbsp;&nbsp; **Auto Manufacturers 0.6%** |  |  |  |  |
| &nbsp;&nbsp; Allison Transmission, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.750 | 10/01/27 | 1075 | 1019210 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Auto Manufacturers (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Ford Motor Credit Co. LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.950% | 05/28/27 | 200 | $191961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.950 | 03/06/26 | 350 | 357965 |
| &nbsp;&nbsp; Jaguar Land Rover Automotive PLC (United Kingdom), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.750 | 10/15/25 | 650 | 640250 |
| &nbsp;&nbsp; PM General Purchaser LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 9.500 | 10/01/28 | 300 | 229485 |
|  |  |  |  | 2438871 |
| &nbsp;&nbsp; **Auto Parts & Equipment 1.0%** |  |  |  |  |
| &nbsp;&nbsp; Adient Global Holdings Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.875 | 08/15/26 | 1050 | 993182 |
| &nbsp;&nbsp; American Axle & Manufacturing, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.250 | 03/15/26 | 84 | 79103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.500 | 04/01/27 | 1200 | 1106875 |
| &nbsp;&nbsp; Dana, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.375 | 11/15/27 | 2000 | 1908574 |
| &nbsp;&nbsp; Titan International, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 7.000 | 04/30/28 | 375 | 359183 |
|  |  |  |  | 4446917 |
| &nbsp;&nbsp; **Banks 0.3%** |  |  |  |  |
| &nbsp;&nbsp; Credit Suisse AG (Switzerland), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, MTN | 3.625 | 09/09/24 | 325 | 309458 |
| &nbsp;&nbsp; Popular, Inc. (Puerto Rico), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.125 | 09/14/23 | 850 | 844688 |
|  |  |  |  | 1154146 |
| &nbsp;&nbsp; **Building Materials 1.6%** |  |  |  |  |
| &nbsp;&nbsp; Eco Material Technologies, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.875 | 01/31/27 | 550 | 529606 |
| &nbsp;&nbsp; JELD-WEN, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.875 | 12/15/27 | 1175 | 958891 |
| &nbsp;&nbsp; Masonite International Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 02/01/28 | 225 | 211102 |
| &nbsp;&nbsp; Standard Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 4.750 | 01/15/28 | 1900 | 1779743 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 125

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Building Materials (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Standard Industries, Inc., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.000% | 02/15/27 | 3300 | $3142477 |
| &nbsp;&nbsp; Summit Materials LLC/Summit Materials Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.500 | 03/15/27 | 200 | 199352 |
|  |  |  |  | 6821171 |
| &nbsp;&nbsp; **Chemicals 2.3%** |  |  |  |  |
| &nbsp;&nbsp; Avient Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.750 | 05/15/25 | 2474 | 2452690 |
| &nbsp;&nbsp; Cornerstone Chemical Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.750 | 08/15/24 | 395 | 315556 |
| &nbsp;&nbsp; Rain CII Carbon LLC/CII Carbon Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 7.250 | 04/01/25 | 1862 | 1755303 |
| &nbsp;&nbsp; SPCM SA (France), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.125 | 03/15/27 | 2025 | 1780846 |
| &nbsp;&nbsp; TPC Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 13.000 | 12/16/27 | 64 | 65731 |
| &nbsp;&nbsp; Venator Finance Sarl/Venator Materials LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.750 | 07/15/25 | 411 | 143850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 9.500 | 07/01/25 | 3375 | 2666250 |
| &nbsp;&nbsp; WR Grace Holdings LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.875 | 06/15/27 | 175 | 163277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.625 | 10/01/24 | 325 | 323347 |
|  |  |  |  | 9666850 |
| &nbsp;&nbsp; **Commercial Services 5.2%** |  |  |  |  |
| &nbsp;&nbsp; Adtalem Global Education, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.500 | 03/01/28 | 446 | 415531 |
| &nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.625 | 07/15/26 | 7350 | 7077242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.750 | 07/15/27 | 597 | 570314 |
| &nbsp;&nbsp; Alta Equipment Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 5.625 | 04/15/26 | 1925 | 1795206 |
| &nbsp;&nbsp; AMN Healthcare, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 10/01/27 | 950 | 881204 |
| &nbsp;&nbsp; Avis Budget Car Rental LLC/Avis Budget Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.750 | 07/15/27 | 825 | 775873 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Commercial Services (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Avis Budget Car Rental LLC/Avis Budget Finance, Inc., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.750% | 07/15/27 | 1625 | $1528082 |
| &nbsp;&nbsp; Brink's Co. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 07/15/25 | 825 | 814834 |
| &nbsp;&nbsp; Herc Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 07/15/27 | 2576 | 2467377 |
| &nbsp;&nbsp; Hertz Corp. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 12/01/26 | 250 | 222123 |
| &nbsp;&nbsp; MPH Acquisition Holdings LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.500 | 09/01/28 | 675 | 560698 |
| &nbsp;&nbsp; Verscend Escrow Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.750 | 08/15/26 | 5235 | 5258392 |
|  |  |  |  | 22366876 |
| &nbsp;&nbsp; **Computers 0.6%** |  |  |  |  |
| &nbsp;&nbsp; CA Magnum Holdings (India), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.375 | 10/31/26 | 250 | 230000 |
| &nbsp;&nbsp; NCR Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.750 | 09/01/27 | 1045 | 1019443 |
| &nbsp;&nbsp; Tempo Acquisition LLC/Tempo Acquisition Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750 | 06/01/25 | 1500 | 1514668 |
|  |  |  |  | 2764111 |
| &nbsp;&nbsp; **Distribution/Wholesale 0.0%** |  |  |  |  |
| &nbsp;&nbsp; H&E Equipment Services, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A |  |  |  |  |
|  | 3.875 | 12/15/28 | 200 | 176392 |
| &nbsp;&nbsp; **Diversified Financial Services 5.1%** |  |  |  |  |
| &nbsp;&nbsp; Bread Financial Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.750 | 12/15/24 | 2675 | 2426196 |
| &nbsp;&nbsp; goeasy Ltd. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.375 | 05/01/26 | 450 | 402750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.375 | 12/01/24 | 4241 | 4050918 |
| &nbsp;&nbsp; Home Point Capital, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 02/01/26 | 375 | 271908 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 127

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Diversified Financial Services (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; LD Holdings Group LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.125% | 04/01/28 | 1850 | $1204738 |
| &nbsp;&nbsp; LFS Topco LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 10/15/26 | 550 | 455140 |
| &nbsp;&nbsp; Nationstar Mortgage Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.000 | 01/15/27 | 1075 | 999290 |
| &nbsp;&nbsp; Navient Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 6.750 | 06/25/25 | 625 | 623657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, MTN | 6.125 | 03/25/24 | 1325 | 1322033 |
| &nbsp;&nbsp; OneMain Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.125 | 03/15/24 | 500 | 495933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.875 | 03/15/25 | 3025 | 3015121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.125 | 03/15/26 | 4150 | 4127257 |
| &nbsp;&nbsp; PennyMac Financial Services, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 10/15/25 | 1050 | 979348 |
| &nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 2.875 | 10/15/26 | 125 | 111500 |
| &nbsp;&nbsp; VistaJet Malta Finance PLC/XO Management Holding, Inc. (Switzerland), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.875 | 05/01/27 | 1175 | 1139750 |
|  |  |  |  | 21625539 |
| &nbsp;&nbsp; **Electric 2.3%** |  |  |  |  |
| &nbsp;&nbsp; Calpine Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.500 | 02/15/28 | 1000 | 923537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.250 | 06/01/26 | 1716 | 1662698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.125 | 03/15/28 | 500 | 452602 |
| &nbsp;&nbsp; NRG Energy, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.750 | 01/15/28 | 875 | 835656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.625 | 01/15/27 | 207 | 207174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 06/15/29 | 425 | 383712 |
| &nbsp;&nbsp; PG&E Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 5.000 | 07/01/28 | 450 | 420971 |
| &nbsp;&nbsp; Vistra Operations Co. LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.000 | 07/31/27 | 3750 | 3527257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 09/01/26 | 1500 | 1461307 |
|  |  |  |  | 9874914 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Electrical Components & Equipment 1.0%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Energizer Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.500% | 12/31/27 | 975 | $951715 |
| &nbsp;&nbsp; WESCO Distribution, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.125 | 06/15/25 | 1925 | 1955621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.250 | 06/15/28 | 1200 | 1234216 |
|  |  |  |  | 4141552 |
| &nbsp;&nbsp; **Electronics 0.5%** |  |  |  |  |
| &nbsp;&nbsp; Likewize Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) |  |  |  |  |
|  | 9.750 | 10/15/25 | 2075 | 1959429 |
| &nbsp;&nbsp; **Energy-Alternate Sources 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Enviva Partners LP/Enviva Partners Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A |  |  |  |  |
|  | 6.500 | 01/15/26 | 700 | 655530 |
| &nbsp;&nbsp; **Entertainment 5.1%** |  |  |  |  |
| &nbsp;&nbsp; Caesars Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.250 | 07/01/25 | 5500 | 5479410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.000 | 02/15/30 | 1600 | 1630436 |
| &nbsp;&nbsp; CCM Merger, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.375 | 05/01/26 | 1350 | 1305859 |
| &nbsp;&nbsp; Golden Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.625 | 04/15/26 | 1000 | 1006056 |
| &nbsp;&nbsp; International Game Technology PLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.250 | 01/15/27 | 550 | 550000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.500 | 02/15/25 | 1950 | 1970436 |
| &nbsp;&nbsp; Motion Bondco DAC (United Kingdom), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.625 | 11/15/27 | 850 | 769020 |
| &nbsp;&nbsp; Penn Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.625 | 01/15/27 | 4150 | 3900060 |
| &nbsp;&nbsp; Scientific Games International, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.625 | 07/01/25 | 875 | 897369 |
| &nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 7.750 | 04/15/25 | 4109 | 4122928 |
|  |  |  |  | 21631574 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 129

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Foods 3.6%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Albertson's Cos., Inc./Safeway, Inc./New Albertson's LP/Albertson's LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.250% | 03/15/26 |  | 587 | $542058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 4.625 | 01/15/27 |  | 2675 | 2539155 |
| &nbsp;&nbsp; B&G Foods, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.250 | 04/01/25 |  | 3250 | 2966588 |
| &nbsp;&nbsp; Chobani LLC/Chobani Finance Corp., Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 04/15/25 |  | 2325 | 2281819 |
| &nbsp;&nbsp; Market Bidco Finco PLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.500 | 11/04/27 | GBP | 400 | 381986 |
| &nbsp;&nbsp; Pilgrim's Pride Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | 5.875 | 09/30/27 |  | 4500 | 4463343 |
| &nbsp;&nbsp; Post Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.625 | 01/15/28 |  | 1338 | 1292429 |
| &nbsp;&nbsp; US Foods, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.250 | 04/15/25 |  | 675 | 675876 |
|  |  |  |  |  | 15143254 |
| &nbsp;&nbsp; **Gas 0.6%** |  |  |  |  |  |
| &nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.625 | 05/20/24 |  | 725 | 714241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.750 | 05/20/27 |  | 1450 | 1366534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 5.875 | 08/20/26 |  | 550 | 531256 |
|  |  |  |  |  | 2612031 |
| &nbsp;&nbsp; **Healthcare-Services 4.8%** |  |  |  |  |  |
| &nbsp;&nbsp; Hadrian Merger Sub, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.500 | 05/01/26 |  | 325 | 272312 |
| &nbsp;&nbsp; HCA, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.875 | 02/15/26 |  | 4214 | 4283323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 7.050 | 12/01/27 |  | 792 | 849042 |
| &nbsp;&nbsp; Legacy LifePoint Health LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.375 | 02/15/27 |  | 610 | 533292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.750 | 04/15/25 |  | 3075 | 2996866 |
| &nbsp;&nbsp; Prime Healthcare Services, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.250 | 11/01/25 |  | 3833 | 3390645 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Healthcare-Services (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 9.750% | 12/01/26 | 4050 | $3547497 |
| &nbsp;&nbsp; Tenet Healthcare Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.125 | 10/01/28 | 475 | 442371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes(aa) | 4.625 | 07/15/24 | 3205 | 3161422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.625 | 06/15/28 | 600 | 557023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.875 | 01/01/26 | 250 | 243443 |
|  |  |  |  | 20277236 |
| &nbsp;&nbsp; **Home Builders 5.6%** |  |  |  |  |
| &nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods Finance Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.625 | 01/15/28 | 600 | 548250 |
| &nbsp;&nbsp; Beazer Homes USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 5.875 | 10/15/27 | 3775 | 3406428 |
| &nbsp;&nbsp; Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.250 | 09/15/27 | 2887 | 2560856 |
| &nbsp;&nbsp; Century Communities, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.750 | 06/01/27 | 1000 | 989819 |
| &nbsp;&nbsp; Empire Communities Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.000 | 12/15/25 | 3420 | 3095100 |
| &nbsp;&nbsp; Forestar Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.850 | 05/15/26 | 2030 | 1819641 |
| &nbsp;&nbsp; KB Home, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.875 | 06/15/27 | 432 | 441666 |
| &nbsp;&nbsp; M/I Homes, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.950 | 02/01/28 | 950 | 877213 |
| &nbsp;&nbsp; Mattamy Group Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.250 | 12/15/27 | 3200 | 2928000 |
| &nbsp;&nbsp; Meritage Homes Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 6.000 | 06/01/25 | 1115 | 1120155 |
| &nbsp;&nbsp; Shea Homes LP/Shea Homes Funding Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 02/15/28 | 550 | 489793 |
| &nbsp;&nbsp; STL Holding Co. LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 7.500 | 02/15/26 | 1155 | 1013552 |
| &nbsp;&nbsp; Taylor Morrison Communities, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.875 | 06/15/27 | 2296 | 2258431 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 131

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Home Builders (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; TRI Pointe Group, Inc./TRI Pointe Homes, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.875% | 06/15/24 | 700 | $698487 |
| &nbsp;&nbsp; Tri Pointe Homes, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.250 | 06/01/27 | 1850 | 1741182 |
|  |  |  |  | 23988573 |
| &nbsp;&nbsp; **Housewares 0.1%** |  |  |  |  |
| &nbsp;&nbsp; Scotts Miracle-Gro Co. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.375 | 02/01/32 | 125 | 102189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.500 | 10/15/29 | 575 | 499798 |
|  |  |  |  | 601987 |
| &nbsp;&nbsp; **Internet 2.4%** |  |  |  |  |
| &nbsp;&nbsp; Cablevision Lightpath LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 3.875 | 09/15/27 | 2120 | 1811251 |
| &nbsp;&nbsp; Cogent Communications Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 3.500 | 05/01/26 | 700 | 648613 |
| &nbsp;&nbsp; Gen Digital, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.000 | 04/15/25 | 6150 | 6030222 |
| &nbsp;&nbsp; Go Daddy Operating Co. LLC/GD Finance Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.250 | 12/01/27 | 600 | 581187 |
| &nbsp;&nbsp; Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.750 | 04/30/27 | 1435 | 1310478 |
|  |  |  |  | 10381751 |
| &nbsp;&nbsp; **Iron/Steel 0.4%** |  |  |  |  |
| &nbsp;&nbsp; Big River Steel LLC/BRS Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A |  |  |  |  |
|  | 6.625 | 01/31/29 | 1859 | 1832396 |
| &nbsp;&nbsp; **Leisure Time 0.3%** |  |  |  |  |
| &nbsp;&nbsp; NCL Corp. Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 8.375 | 02/01/28 | 225 | 228094 |
| &nbsp;&nbsp; Royal Caribbean Cruises Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.375 | 07/15/27 | 400 | 346200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 11.625 | 08/15/27 | 200 | 212300 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Leisure Time (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Viking Cruises Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.250% | 05/15/25 | 500 | $455000 |
|  |  |  |  | 1241594 |
| &nbsp;&nbsp; **Lodging 3.3%** |  |  |  |  |
| &nbsp;&nbsp; Genting New York LLC/GENNY Capital, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.300 | 02/15/26 | 800 | 714966 |
| &nbsp;&nbsp; Las Vegas Sands Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.500 | 08/18/26 | 500 | 465031 |
| &nbsp;&nbsp; MGM Resorts International, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.625 | 09/01/26 | 4585 | 4320236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.750 | 06/15/25 | 75 | 74016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 6.750 | 05/01/25 | 3162 | 3182047 |
| &nbsp;&nbsp; Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP Gaming Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.875 | 05/15/25 | 3896 | 3666952 |
| &nbsp;&nbsp; Wynn Macau Ltd. (Macau), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500 | 01/15/26 | 650 | 607750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.500 | 10/01/27 | 1200 | 1074000 |
|  |  |  |  | 14104998 |
| &nbsp;&nbsp; **Machinery-Diversified 1.6%** |  |  |  |  |
| &nbsp;&nbsp; Maxim Crane Works Holdings Capital LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A(aa) | 10.125 | 08/01/24 | 3996 | 3883748 |
| &nbsp;&nbsp; TK Elevator US Newco, Inc. (Germany), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 5.250 | 07/15/27 | 3175 | 2929223 |
|  |  |  |  | 6812971 |
| &nbsp;&nbsp; **Media 12.4%** |  |  |  |  |
| &nbsp;&nbsp; AMC Networks, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.000 | 04/01/24 | 700 | 675157 |
| &nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.000 | 02/01/28 | 2560 | 2389536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.125 | 05/01/27 | 4515 | 4302389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.500 | 05/01/26 | 3724 | 3660118 |
| &nbsp;&nbsp; CSC Holdings LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 02/01/28 | 1500 | 1260056 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 133

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Media (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; CSC Holdings LLC, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;5.500% | 04/15/27 | 4520 | $3979224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | 06/01/24 | 750 | 734779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | 04/01/28 | 200 | 146109 |
| &nbsp;&nbsp; DISH DBS Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | &nbsp;&nbsp;&nbsp;&nbsp;5.000 | 03/15/23 | 4550 | 4542390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | 11/15/24 | 1850 | 1746834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;7.750 | 07/01/26 | 2595 | 2105132 |
| &nbsp;&nbsp; DISH Network Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 11.750 | 11/15/27 | 900 | 933401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gray Television, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | 07/15/26 | 5373 | 4926137 |
| &nbsp;&nbsp; iHeartCommunications, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;8.375 | 05/01/27 | 1145 | 1026476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;6.375 | 05/01/26 | 2165 | 2075923 |
| &nbsp;&nbsp; Midcontinent Communications/Midcontinent Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.375 | 08/15/27 | 2010 | 1905909 |
| &nbsp;&nbsp; Nexstar Media, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.625 | 07/15/27 | 4045 | 3853602 |
| &nbsp;&nbsp; Radiate Holdco LLC/Radiate Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | 09/15/26 | 3350 | 2566042 |
| &nbsp;&nbsp; Sinclair Television Group, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A (original cost $348,000; purchased 05/02/22)(f) | &nbsp;&nbsp;&nbsp;&nbsp;5.125 | 02/15/27 | 400 | 354741 |
| &nbsp;&nbsp; Univision Communications, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.125 | 02/15/25 | 6575 | 6406656 |
| &nbsp;&nbsp; Videotron Ltd. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;5.375 | 06/15/24 | 3214 | 3189895 |
|  |  |  |  | 52780506 |
| &nbsp;&nbsp; **Mining 2.4%** |  |  |  |  |
| &nbsp;&nbsp; Constellium SE, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | 02/15/26 | 1450 | 1429352 |
| &nbsp;&nbsp; First Quantum Minerals Ltd. (Zambia), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.500 | 03/01/24 | 575 | 569610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.500 | 04/01/25 | 2480 | 2442924 |
| &nbsp;&nbsp; Hudbay Minerals, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | 04/01/26 | 2920 | 2690050 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Mining (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; New Gold, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500% | 07/15/27 | 600 | $559500 |
| &nbsp;&nbsp; Novelis Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 3.250 | 11/15/26 | 2945 | 2666346 |
|  |  |  |  | 10357782 |
| &nbsp;&nbsp; **Miscellaneous Manufacturing 0.4%** |  |  |  |  |
| &nbsp;&nbsp; Amsted Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A |  |  |  |  |
|  | 5.625 | 07/01/27 | 1523 | 1497125 |
| &nbsp;&nbsp; **Office/Business Equipment 0.9%** |  |  |  |  |
| &nbsp;&nbsp; CDW LLC/CDW Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) |  |  |  |  |
|  | 4.125 | 05/01/25 | 3982 | 3856045 |
| &nbsp;&nbsp; **Oil & Gas 5.2%** |  |  |  |  |
| &nbsp;&nbsp; Aethon United BR LP/Aethon United Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 8.250 | 02/15/26 | 1350 | 1343456 |
| &nbsp;&nbsp; Ascent Resources Utica Holdings LLC/ARU Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.000 | 11/01/26 | 4250 | 4065609 |
| &nbsp;&nbsp; Athabasca Oil Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sec'd. Notes, 144A | 9.750 | 11/01/26 | 1635 | 1733100 |
| &nbsp;&nbsp; Chesapeake Energy Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.500 | 02/01/26 | 2936 | 2851004 |
| &nbsp;&nbsp; CITGO Petroleum Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.375 | 06/15/26 | 1900 | 1862761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.000 | 06/15/25 | 200 | 198400 |
| &nbsp;&nbsp; CNX Resources Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.250 | 03/14/27 | 325 | 323537 |
| &nbsp;&nbsp; Crescent Energy Finance LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 9.250 | 02/15/28 | 150 | 149633 |
| &nbsp;&nbsp; Endeavor Energy Resources LP/EER Finance, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 5.750 | 01/30/28 | 600 | 592634 |
| &nbsp;&nbsp; MEG Energy Corp. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.125 | 02/01/27 | 800 | 818200 |
| &nbsp;&nbsp; Nabors Industries, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.375 | 05/15/27 | 900 | 901170 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 135

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Oil & Gas (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Occidental Petroleum Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;5.875% | 09/01/25 |  | 2425 | $2455027 |
| &nbsp;&nbsp; Parkland Corp. (Canada), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | 07/15/27 |  | 975 | 932685 |
| &nbsp;&nbsp; Preem Holdings AB (Sweden), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A (original cost $999,408; purchased 06/14/22)(f) | 12.000 | 06/30/27 | EUR | 1000 | 1142964 |
| &nbsp;&nbsp; Range Resources Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;4.875 | 05/15/25 |  | 500 | 485439 |
| &nbsp;&nbsp; Southwestern Energy Co., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;8.375 | 09/15/28 |  | 900 | 945058 |
| &nbsp;&nbsp; Sunoco LP/Sunoco Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | 04/15/27 |  | 1200 | 1199424 |
|  |  |  |  |  | 22000101 |
| &nbsp;&nbsp; **Packaging & Containers 1.6%** |  |  |  |  |  |
| &nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.125 | 08/15/26 |  | 525 | 479062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.250 | 08/15/27 |  | 1325 | 1091469 |
| &nbsp;&nbsp; Graham Packaging Co., Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.125 | 08/15/28 |  | 500 | 439228 |
| &nbsp;&nbsp; Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.000 | 09/15/28 |  | 1700 | 1513000 |
| &nbsp;&nbsp; LABL, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | 07/15/26 |  | 250 | 242287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 10.500 | 07/15/27 |  | 1000 | 950979 |
| &nbsp;&nbsp; Mauser Packaging Solutions Holding Co., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;7.875 | 08/15/26 |  | 475 | 479156 |
| &nbsp;&nbsp; Owens-Brockway Glass Container, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;6.625 | 05/13/27 |  | 224 | 220210 |
| &nbsp;&nbsp; Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;4.000 | 10/15/27 |  | 225 | 202126 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Packaging & Containers (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Sealed Air Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.125% | 02/01/28 | 150 | $151398 |
| &nbsp;&nbsp; Trident TPI Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 9.250 | 08/01/24 | 1000 | 982370 |
|  |  |  |  | 6751285 |
| &nbsp;&nbsp; **Pharmaceuticals 2.0%** |  |  |  |  |
| &nbsp;&nbsp; AdaptHealth LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.125 | 08/01/28 | 1550 | 1470866 |
| &nbsp;&nbsp; Bausch Health Americas, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 8.500 | 01/31/27 | 7909 | 4170999 |
| &nbsp;&nbsp; P&L Development LLC/PLD Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 7.750 | 11/15/25 | 3414 | 2772074 |
|  |  |  |  | 8413939 |
| &nbsp;&nbsp; **Pipelines 2.3%** |  |  |  |  |
| &nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.750 | 03/01/27 | 175 | 169707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.875 | 05/15/26 | 2525 | 2590815 |
| &nbsp;&nbsp; EQM Midstream Partners LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 6.000 | 07/01/25 | 505 | 497363 |
| &nbsp;&nbsp; Global Partners LP/GLP Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 7.000 | 08/01/27 | 750 | 723724 |
| &nbsp;&nbsp; Rockies Express Pipeline LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | 3.600 | 05/15/25 | 475 | 450626 |
| &nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 6.000 | 03/01/27 | 1384 | 1316155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.500 | 10/01/25 | 1500 | 1522788 |
| &nbsp;&nbsp; Western Midstream Operating LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.350 | 02/01/25 | 2100 | 2005034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.950 | 06/01/25 | 500 | 479120 |
|  |  |  |  | 9755332 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 137

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#** | |
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Real Estate 1.2%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Five Point Operating Co. LP/Five Point Capital Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 7.875% | 11/15/25 |  | 3025 | $2723186 |
| &nbsp;&nbsp; Greystar Real Estate Partners LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.750 | 12/01/25 |  | 100 | 98757 |
| &nbsp;&nbsp; Howard Hughes Corp. (The), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.375 | 08/01/28 |  | 2372 | 2199359 |
|  |  |  |  |  | 5021302 |
| &nbsp;&nbsp; **Real Estate Investment Trusts (REITs) 4.1%** |  |  |  |  |  |
| &nbsp;&nbsp; Diversified Healthcare Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 9.750 | 06/15/25 |  | 2934 | 2879364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 4.750 | 05/01/24 |  | 500 | 434092 |
| &nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 5.000 | 10/15/27 |  | 2450 | 2071665 |
| &nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.500 | 06/01/25 |  | 2750 | 2788443 |
| &nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 4.750 | 10/15/27 |  | 275 | 258063 |
| &nbsp;&nbsp; Uniti Group LP/Uniti Fiber Holdings, Inc./CSL Capital LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 7.875 | 02/15/25 |  | 8425 | 8313060 |
| &nbsp;&nbsp; VICI Properties LP/VICI Note Co., Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.500 | 09/01/26 |  | 901 | 859395 |
|  |  |  |  |  | 17604082 |
| &nbsp;&nbsp; **Retail 2.4%** |  |  |  |  |  |
| &nbsp;&nbsp; At Home Group, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 4.875 | 07/15/28 |  | 100 | 72979 |
| &nbsp;&nbsp; Brinker International, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 5.000 | 10/01/24 |  | 725 | 709368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | 3.875 | 05/15/23 |  | 1800 | 1790491 |
| &nbsp;&nbsp; eG Global Finance PLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 4.375 | 02/07/25 | EUR | 200 | 193091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes | 6.250 | 10/30/25 | EUR | 308 | 298452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.750 | 02/07/25 |  | 1325 | 1230594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 8.500 | 10/30/25 |  | 4910 | 4615400 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Retail (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Ferrellgas LP/Ferrellgas Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.375% | 04/01/26 | 175 | $160972 |
| &nbsp;&nbsp; Sally Holdings LLC/Sally Capital, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;5.625 | 12/01/25 | 1100 | 1088991 |
| &nbsp;&nbsp; Suburban Propane Partners LP/Suburban Energy Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes | &nbsp;&nbsp;&nbsp;&nbsp;5.875 | 03/01/27 | 225 | 217756 |
|  |  |  |  | 10378094 |
| &nbsp;&nbsp; **Semiconductors 0.8%** |  |  |  |  |
| &nbsp;&nbsp; Microchip Technology, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) |  |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.250 | 09/01/25 | 3630 | 3557257 |
| &nbsp;&nbsp; **Software 2.3%** |  |  |  |  |
| &nbsp;&nbsp; Boxer Parent Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;7.125 | 10/02/25 | 2000 | 1986865 |
| &nbsp;&nbsp; Camelot Finance SA, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | &nbsp;&nbsp;&nbsp;&nbsp;4.500 | 11/01/26 | 5720 | 5426850 |
| &nbsp;&nbsp; SS&C Technologies, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;5.500 | 09/30/27 | 2500 | 2403309 |
|  |  |  |  | 9817024 |
| &nbsp;&nbsp; **Telecommunications 6.3%** |  |  |  |  |
| &nbsp;&nbsp; Altice France SA (France), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;&nbsp;&nbsp;8.125 | 02/01/27 | 2820 | 2636700 |
| &nbsp;&nbsp; Digicel International Finance Ltd./Digicel International Holdings Ltd. (Jamaica), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A, Cash coupon 6.000% and PIK 7.000% (original cost $1,747,533; purchased 01/05/21 - 12/15/22)(f) | 13.000 | 12/31/25 | 1721 | 860641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A (original cost $630,750;purchased 01/05/21)(f) | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | 05/25/24 | 600 | 515362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A (original cost $3,259,213;purchased 12/02/20 - 12/03/20)(f) | &nbsp;&nbsp;&nbsp;&nbsp;8.750 | 05/25/24 | 3160 | 2716217 |
| &nbsp;&nbsp; Digicel Ltd. (Jamaica), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A (original cost $945,000; purchased 04/22/21)(f) | &nbsp;&nbsp;&nbsp;&nbsp;6.750 | 03/01/23 | 1000 | 388312 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 139

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **CORPORATE BONDS (Continued)**<br>&nbsp;&nbsp; **Telecommunications (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Iliad Holding SASU (France), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 6.500% | 10/15/26 | 2195 | $2073156 |
| &nbsp;&nbsp; Level 3 Financing, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A | 4.625 | 09/15/27 | 1280 | 1085627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 3.400 | 03/01/27 | 2425 | 2100349 |
| &nbsp;&nbsp; Sprint LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes | 7.625 | 02/15/25 | 2030 | 2106978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes(aa) | 7.625 | 03/01/26 | 5150 | 5445593 |
| &nbsp;&nbsp; Viasat, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A | 5.625 | 04/15/27 | 550 | 513335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Unsec'd. Notes, 144A(aa) | 5.625 | 09/15/25 | 3885 | 3652401 |
| &nbsp;&nbsp; Zayo Group Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sr. Sec'd. Notes, 144A(aa) | 4.000 | 03/01/27 | 3720 | 2956740 |
|  |  |  |  | 27051411 |
| &nbsp;&nbsp; **Transportation 0.1%** |  |  |  |  |
| &nbsp;&nbsp; XPO Escrow Sub LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A |  |  |  |  |
|  | 7.500 | 11/15/27 | 275 | 282611 |
| &nbsp;&nbsp; **Trucking & Leasing 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Fortress Transportation & Infrastructure Investors LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gtd. Notes, 144A |  |  |  |  |
|  | 5.500 | 05/01/28 | 850 | 748874 |
| &nbsp;&nbsp; **TOTAL CORPORATE BONDS**<br>(cost $450,976,748) |  |  |  | 418584833 |
| &nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS 9.2%** |  |  |  |  |
| &nbsp;&nbsp; **Airlines 0.6%** |  |  |  |  |
| &nbsp;&nbsp; United Airlines, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class B Term Loan, 3 Month LIBOR + 3.750% | 8.568(c) | 04/21/28 | 2641 | 2634000 |
| &nbsp;&nbsp; **Chemicals 0.3%** |  |  |  |  |
| &nbsp;&nbsp; Diamond BC BV, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 3 Month LIBOR + 2.750% | 7.448(c) | 09/29/28 | 1386 | 1368675 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS (Continued)**<br>&nbsp;&nbsp; **Commercial Services 0.7%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; Cimpress PLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tranche B-1 Term Loan, 1 Month LIBOR + 3.500% | 8.070%(c) | 05/17/28 | 985 | $886500 |
| &nbsp;&nbsp; Trans Union LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Incremental Term B-6 Loan, 1 Month LIBOR + 2.250% | 6.820(c) | 12/01/28 | 1035 | 1032327 |
| &nbsp;&nbsp; Verscend Holding Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New Term Loan B, 1 Month LIBOR + 4.000% | 8.570(c) | 08/27/25 | 985 | 981750 |
|  |  |  |  | 2900577 |
| &nbsp;&nbsp; **Electric 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Heritage Power LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 3 Month LIBOR + 6.000% | 10.415(c) | 07/30/26 | 2534 | 827691 |
| &nbsp;&nbsp; **Entertainment 0.5%** |  |  |  |  |
| &nbsp;&nbsp; Golden Entertainment, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term B Facility Loan (First Lien), 1 Month LIBOR + 3.000% | 7.520(c) | 10/21/24 | 2234 | 2228870 |
| &nbsp;&nbsp; **Insurance 0.2%** |  |  |  |  |
| &nbsp;&nbsp; Asurion LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New B-9 Term Loan, 1 Month LIBOR + 3.250% | 7.820(c) | 07/31/27 | 1007 | 947898 |
| &nbsp;&nbsp; **Media 0.2%** |  |  |  |  |
| &nbsp;&nbsp; CSC Holdings LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 Refinancing Term Loan, 1 Month SOFR + 4.500% | 8.822(c) | 01/17/28 | 730 | 691067 |
| &nbsp;&nbsp; **Packaging & Containers 0.8%** |  |  |  |  |
| &nbsp;&nbsp; Trident TPI Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Tranche B-3 Initial Term Loan, 3 Month LIBOR + 4.000% | 8.730(c) | 09/15/28 | 445 | 435644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tranche B-1 Term Loan, 3 Month LIBOR + 3.250% | 7.980(c) | 10/17/24 | 2855 | 2842555 |
|  |  |  |  | 3278199 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 141

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS (Continued)**<br>&nbsp;&nbsp; **Retail 0.5%** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; LBM Acquisition LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Initial Term Loan, 1 Month LIBOR + 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8.320%(c) | 12/17/27 | 1231 | $1109652 |
| &nbsp;&nbsp; White Cap Buyer LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Closing Date Term Loan, 1 Month SOFR + 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8.311(c) | 10/19/27 | 888 | 880628 |
|  |  |  |  | 1990280 |
| &nbsp;&nbsp; **Software 3.3%** |  |  |  |  |
| &nbsp;&nbsp; athenahealth, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 1 Month SOFR + 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8.012(c) | 02/15/29 | 1641 | 1551774 |
| &nbsp;&nbsp; Boxer Parent Co., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 Replacement Dollar Term Loan, 1 Month LIBOR + 3.750% | &nbsp;&nbsp;&nbsp;&nbsp;8.320(c) | 10/02/25 | 4346 | 4260810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Second Lien Incremental Term Loan, 1 Month LIBOR + 5.500% | 10.070(c) | 02/27/26 | 150 | 140625 |
| &nbsp;&nbsp; Dun & Bradstreet Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan B, 1 Month LIBOR + 3.250% | &nbsp;&nbsp;&nbsp;&nbsp;7.767(c) | 02/06/26 | 3712 | 3701771 |
| &nbsp;&nbsp; Finastra USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Dollar Term Loan, 3 Month LIBOR + 3.500% | &nbsp;&nbsp;&nbsp;&nbsp;8.325(c) | 06/13/24 | 3517 | 3302003 |
| &nbsp;&nbsp; Skillsoft Finance II, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 1 Month SOFR + 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;9.761(c) | 07/14/28 | 1230 | 1049824 |
|  |  |  |  | 14006807 |
| &nbsp;&nbsp; **Telecommunications 1.9%** |  |  |  |  |
| &nbsp;&nbsp; Intelsat Jackson Holdings SA (Luxembourg), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term B Loan, 6 Month SOFR + 4.500% | &nbsp;&nbsp;&nbsp;&nbsp;7.445(c) | 02/01/29 | 2749 | 2702530 |
| &nbsp;&nbsp; Intrado Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Term Loan^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— (p) | 01/25/30 | 365 | 362263 |
| &nbsp;&nbsp; MLN US Holdco LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 6 Month SOFR + 6.440% | 10.894(c) | 10/18/27 | 21 | 20267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 6 Month SOFR + 6.700%^ | 11.154(c) | 10/18/27 | 48 | 33725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan^ | 13.704(cc) | 10/18/27 | 4 | 2960 |
| &nbsp;&nbsp; Viasat, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term Loan, 1 Month SOFR + 4.614% | 9.176(c) | 03/02/29 | 1297 | 1290368 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description**<br>&nbsp;&nbsp; **FLOATING RATE AND OTHER LOANS (Continued)**<br>&nbsp;&nbsp; **Telecommunications (cont'd.)** | **Interest <br>Rate**<br>| **Maturity <br>Date**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Principal <br>Amount<br>(000)#**<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value**<br>|
| &nbsp;&nbsp; West Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Initial Term B Loan, 3 Month LIBOR + 4.000% | 8.825%(c) | 10/10/24 | 1833 | $1717580 |
| &nbsp;&nbsp; Xplornet Communications, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien Refinancing Term Loan, 1 Month LIBOR + 0.000% | 8.570(c) | 10/02/28 | 2528 | 2012920 |
|  |  |  |  | 8142613 |
| &nbsp;&nbsp; **TOTAL FLOATING RATE AND OTHER LOANS**<br>(cost $41,917,026) |  |  |  | 39016677 |
|  |  |  | **Shares** |  |
| &nbsp;&nbsp; **COMMON STOCK 0.0%** |  |  |  |  |
| &nbsp;&nbsp; **Chemicals** |  |  |  |  |
| &nbsp;&nbsp; TPC Group, Inc.\*^ |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (cost $53,386) |  |  | 4927 | 98540 |
| &nbsp;&nbsp; **TOTAL LONG-TERM INVESTMENTS**<br>(cost $527,357,512) |  |  |  | 492232821 |
| &nbsp;&nbsp; **SHORT-TERM INVESTMENT 2.6%** |  |  |  |  |
| &nbsp;&nbsp; **UNAFFILIATED FUND** |  |  |  |  |
| &nbsp;&nbsp; Dreyfus Government Cash Management (Institutional Shares)<br>(cost $11,179,522) |  |  | 11179522 | 11179522 |
| &nbsp;&nbsp; **TOTAL INVESTMENTS 118.1%**<br>(cost $538,537,034) |  |  |  | 503412343 |
| &nbsp;&nbsp; Liabilities in excess of other assets(z) (18.1)% |  |  |  | (77295770) |
| &nbsp;&nbsp; **NET ASSETS 100.0%** |  |  |  | $426116573 |

---

------

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. 

---

| | |
|:---|:---|
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $497,488 and 0.1% of net assets.  |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 143

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

(aa) Represents security, or a portion thereof, with aggregate value of $121,230,740 segregated as collateral for amount of
$85,000,000 borrowed and outstanding as of January 31, 2023.

(c) Variable rate instrument. The interest rate shown reflects the rate in effect at January 31, 2023.

(cc) Variable rate instrument. The rate shown is based on the latest available information as of January 31, 2023. 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.

(f) Indicates a restricted security that is acquired in unregistered, private sales from the issuing company or from an
affiliate of the issuer and is considered restricted as to disposition under federal securities law; the aggregate original cost of such securities is $7,929,904. The aggregate value of $5,978,237 is 1.4% of net assets.

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

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

**Unfunded loan commitment outstanding at January 31, 2023:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Borrower**  | **Principal**<br>**Amount**<br>**(000)#** | **Current**<br>**Value** | **Unrealized**<br>**Appreciation** | **Unrealized**<br>**Depreciation** |
|  athenahealth, Inc., Initial Delayed Draw Term Loan, SONIA + 3.500%, 3.500%(c), Maturity Date 02/15/29 (cost $201,087) | 201 | $190153 | $– | $(10934) |

---

**Futures contracts outstanding at January 31, 2023:** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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:** |  |  |
| 14 | 5 Year U.S.Treasury Notes | Mar. 2023 | $1529391 | $2827 |
| 23 | 10 Year U.S. Treasury Notes | Mar. 2023 | 2633859 | 4641 |
| 9 | 20 Year U.S. Treasury Bonds | Mar. 2023 | 1168875 | 269 |
| 9 | 30 Year U.S. Ultra Treasury Bonds | Mar. 2023 | 1275750 | (857) |
|  |  |  |  | $6880 |

---

**Forward foreign currency exchange contracts outstanding at January 31, 2023:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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:** |  |  |  |  |
|  British Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | BNP | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 | $658205 | $658370 | $165 | $&nbsp;&nbsp;&nbsp;&nbsp;— |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

**Forward foreign currency exchange contracts outstanding at January 31, 2023 (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.):** |  |  | | |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | BOA | EUR | 1388 | $1513322 | $1508943 | $— | $(4379) |
|  |  |  |  | $2171527 | $2167313 | 165 | (4379) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **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:** |  |  |  |  |  |
|  British Pound, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | BOA | GBP | 534 | $639480 | $658370 | $— | $(18890) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 03/02/23 | BNP | GBP | 534 | 658608 | 658745 |  | (137) |
|  Euro, |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 02/02/23 | BOA | EUR | 1388 | 1492339 | 1508944 |  | (16605) |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiring 03/02/23 | BOA | EUR | 1388 | 1516114 | 1511463 | 4651 |  |
|  |  |  |  | $4306541 | $4337522 | 4651 | (35632) |
|  |  |  |  |  |  | $4816 | $(40011) |

---

**Credit default swap agreement outstanding at January 31, 2023:** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation** <br>| **Termination**<br>**Date** | **Fixed**<br>**Rate** | **Notional**<br>**Amount**<br>**(000)#(3)** | **Value at**<br>**Trade Date** | **Value at**<br>**January 31,**<br>**2023** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
|  **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** |
|  CDX.NA.HY.39.V1 | 12/20/27 | 5.000%(Q) | 18075 | $(449652) | $(606710) | $(157058) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference**<br> **Entity/**<br> **Obligation**  | **Termination**<br>**Date** | **Fixed**<br>**Rate** | **Notional**<br>**Amount**<br>**(000)#(3)** | **Implied Credit**<br>**Spread at**<br>**January 31,**<br>**2023(4)** | **Value at**<br>**Trade Date** | **Value at**<br>**Trade Date** | **Value at**<br>**January 31,**<br>**2023** | **Unrealized**<br>**Appreciation**<br>**(Depreciation)** |
|  **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** |  |  |  |
|  CDX.NA.HY.38.V2 | 06/20/27 | 5.000%(Q) | 52826 | 3.908% |  | $(1197317) | $2402043 | $3599360 |

---

(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 Fixed Income Closed-End Funds 145

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

**Credit default swap agreement outstanding at January 31, 2023: (continued)** 

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.

**Total return swap agreements outstanding at January 31, 2023:** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br>Entity**  | **Financing<br>Rate** | **Counterparty** | **Termination<br>Date** | **Long<br>(Short)<br>Notional<br>Amount<br>(000)#(1)** | **Fair**<br>**Value** | **Upfront<br>Premiums<br>Paid<br>(Received)** | **Unrealized<br>Appreciation<br>(Depreciation)(2)** |
|  **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** |  |  |  |  |  |  |
|  iBoxx USD Investment Grade Index(T) | 1 Day<br>SOFR(Q)/<br>4.310% | BNP | 06/20/23 | (3238) | $(7118) | $— | $(7118) |
|  iBoxx USD Investment Grade Index(T) | 1 Day<br>SOFR(Q)/<br>4.310% | BNP | 09/20/23 | (3237) | (9299) |  | (9299) |
|  |  |  |  |  | $(16417) | $— | $(16417) |

---

(1) On a long total return swap, the Fund receives payments for any positive return on the reference entity (makes payments
for any negative return) and pays the financing rate. On a short total return swap, the Fund makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate.

(2) Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation).

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

**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 | $— | $— | $— | $(16417) |

---

<u>**Summary of Collateral for Centrally Cleared/Exchange-traded Derivatives:**</u> 

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** |
|  CGM | $3595000 | $— |
|  JPS | 310000 |  |
|  **Total** | $3905000 | $— |

---

**<u>Fair Value Measurements:</u>** 

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 January 31, 2023 in valuing such portfolio securities:

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Investments in Securities** |  |  |  |
|  **Assets** |  |  |  |
|  **Long-Term Investments** |  |  |  |
|  Asset-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Collateralized Loan Obligations | $— | $34532771 | $— |
|  Corporate Bonds |  | 418584833 |  |
|  Floating Rate and other Loans |  | 38617729 | 398948 |
|  Common Stock |  |  | 98540 |
|  **Short-Term Investment** |  |  |  |
|  Unaffiliated Fund | 11179522 |  |  |
|  **Total** | $**11179522** | $**491735333** | $**497488** |
|  **Other Financial Instruments\*** |  |  |  |
|  **Assets** |  |  |  |
|  Futures Contracts | $7737 | $— | $— |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 147

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

---

| | | | |
|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** |
|  **Other Financial Instruments\* (continued)** |  |  |  |
|  **Assets (continued)** |  |  |  |
|  OTC Forward Foreign Currency Exchange Contracts | $— | $4816 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  Centrally Cleared Credit Default Swap Agreement |  | 3599360 |  |
|  **Total** | $**7737** | $**3604176** | $**—** |
|  **Liabilities** |  |  |  |
|  Unfunded Loan Commitment | $— | $(10934) | $— |
|  Futures Contracts | (857) |  |  |
|  OTC Forward Foreign Currency Exchange Contracts |  | (40011) |  |
|  Centrally Cleared Credit Default Swap Agreement |  | (157058) |  |
|  OTC Total Return Swap Agreements |  | (16417) |  |
|  **Total** | $**(857)** | $**(224420)** | $**—** |

---

------

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

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

The industry classification of investments and liabilities in excess of other assets shown as a percentage of net assets as of January 31, 2023 were as follows:

---

| | |
|:---|:---|
|  Media | 12.6 |
|  Telecommunications | 8.2 |
|  Collateralized Loan Obligations | 8.1 |
|  Commercial Services | 5.9 |
|  Home Builders | 5.6 |
|  Entertainment | 5.6 |
|  Software | 5.6 |
|  Oil & Gas | 5.2 |
|  Diversified Financial Services | 5.1 |
|  Healthcare-Services | 4.8 |
|  Real Estate Investment Trusts (REITs) | 4.1 |
|  Foods | 3.6 |
|  Lodging | 3.3 |
|  Aerospace & Defense | 3.0 |
|  Retail | 2.9 |
|  Unaffiliated Fund | 2.6 |
|  Chemicals | 2.6 |
|  Electric | 2.5 |
|  Internet | 2.4 |
|  Mining | 2.4 |

---

---

| | |
|:---|:---|
|  Packaging & Containers | 2.4 |
|  Pipelines | 2.3 |
|  Airlines | 2.1 |
|  Pharmaceuticals | 2 |
|  Building Materials | 1.6 |
|  Machinery-Diversified | 1.6 |
|  Real Estate | 1.2 |
|  Auto Parts & Equipment | 1 |
|  Electrical Components & Equipment | 1 |
|  Office/Business Equipment | 0.9 |
|  Semiconductors | 0.8 |
|  Computers | 0.6 |
|  Gas | 0.6 |
|  Apparel | 0.6 |
|  Auto Manufacturers | 0.6 |
|  Electronics | 0.5 |
|  Iron/Steel | 0.4 |
|  Miscellaneous Manufacturing | 0.4 |
|  Leisure Time | 0.3 |
|  Banks | 0.3 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

**<u>Industry Classification (continued):</u>** 

---

| | |
|:---|:---|
|  Insurance | 0.2% |
|  Trucking & Leasing | 0.2 |
|  Energy-Alternate Sources | 0.2 |
|  Housewares | 0.1 |
|  Transportation | 0.1 |
|  Distribution/Wholesale | 0.0 \* |
|  | 118.1 |
|  Liabilities in excess of other assets | (18.1) |
|  | 100.0% |

---

------

\* Less than +/- 0.05% 

**<u>Effects of Derivative Instruments on the Financial Statements and Primary Underlying Risk Exposure:</u>** 

The Fund invested in derivative instruments during the reporting period. The primary types of risk associated with these derivative instruments are credit contracts risk, foreign exchange contracts risk and interest rate contracts 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 January 31, 2023 as presented in the Statement of Assets and Liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives** | **Liability Derivatives** |
| <br>**Derivatives not accounted** <br> **for 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 | $3599360 \* | Due from/to broker-variation margin swaps | $157058 \* |
|  Foreign exchange contracts | Unrealized appreciation on OTC forward foreign currency exchange contracts | 4816 | Unrealized depreciation on OTC forward foreign currency exchange contracts | 40011 |
|  Interest rate contracts | Due from/to broker-variation margin futures | 7737 \* | Due from/to broker-variation margin futures | 857 \* |
|  Interest rate contracts |  |  | Unrealized depreciation on OTC swap agreements | 16417 |
|  |  | $3611913 |  | $214343 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 149

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

\* 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 January 31, 2023 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** |
| **Derivatives not accounted for as hedging**<br> **<u>instruments, carried at fair value</u>** | **Forward<br>Currency<br>Exchange<br>Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Swaps**  |
|  Credit contracts | $— | $(257352) |
|  Foreign exchange contracts | 6804 |  |
|  Interest rate contracts |  | (358810) |
|  **Total** | $6804 | $(616162) |

---

**Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income**<br>

---

| | | | |
|:---|:---|:---|:---|
| **Derivatives not accounted for**<br> **as hedging instruments,**<br> **carried at fair value** | **Futures** | **Forward<br>Currency<br>Exchange<br>Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Swaps**  |
|  Credit contracts | $— | $— | $3076558 |
|  Foreign exchange contracts |  | (87825) |  |
|  Interest rate contracts | 6880 |  | (16417) |
|  **Total** | $6880 | $(87825) | $3060141 |

---

For the six months ended January 31, 2023, the Fund's average volume of derivative activities is as follows:

---

| | |
|:---|:---|
| **Derivative Contract Type** | **Average Volume of Derivative Activities\*** |
|  Futures Contracts - Long Positions (1) | $2202625 |
|  Forward Foreign Currency Exchange Contracts - Purchased (2) | 2125118 |
|  Forward Foreign Currency Exchange Contracts - Sold (2) | 4236957 |
|  Credit Default Swap Agreements - Buy Protection (1) | 9658333 |
|  Credit Default Swap Agreements - Sell Protection (1) | 50397600 |
|  Total Return Swap Agreements (1) | 2158333 |

---

\* Average volume is based on average quarter end balances as noted for the six months ended January 31, 2023.

(1) Notional Amount in USD.

(2) Value at Settlement Date.

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

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

as of January 31, 2023

**<u>Financial Instruments/Transactions—Summary of Offsetting and Netting Arrangements:</u>** 

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** |
|  BNP | $165 | $(16554) | $(16389) | $– | $(16389) |
|  BOA | 4651 | (39874) | (35223) | – | (35223) |
|  | $4816 | $(56428) | $(51612) | $– | $(51612) |

---

(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 Fixed Income Closed-End Funds 151

------

**PGIM Short Duration High Yield Opportunities Fund** 

**Statement of Assets & Liabilities** (unaudited)

as of January 31, 2023

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; **Assets** | |
| &nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated investments (cost $538,537,034) | $503412343 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash | 2992371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign currency, at value (cost $210,281) | 210006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends and interest receivable | 7847716 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deposit with broker for centrally cleared/exchange-traded derivatives | 3905000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due from broker—variation margin swaps | 154491 |
| &nbsp;&nbsp;&nbsp;&nbsp; Receivable for investments sold | 126719 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due from broker—variation margin futures | 8344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized appreciation on OTC forward foreign currency exchange contracts | 4816 |
| &nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses | 1776 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Assets** | 518663582 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Liabilities** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Loan payable | 85000000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for investments purchased | 6494315 |
| &nbsp;&nbsp;&nbsp;&nbsp; Management fee payable | 430971 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest payable | 369915 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other liabilities | 170990 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on OTC forward foreign currency exchange contracts | 40011 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on OTC swap agreements | 16417 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange listing fees payable | 13449 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized depreciation on unfunded loan commitment | 10934 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees payable | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total Liabilities** | 92547009 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Assets** | $426116573 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets were comprised of: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares of beneficial interest, at par | $24673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paid-in capital in excess of par | 487542263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total distributable earnings (loss) | (61450363) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net assets, January 31, 2023** | $426116573 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net asset value and redemption price per share<br> ($426,116,573 ÷ 24,673,056 common shares issued and outstanding) | $17.27 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

**Statement of Operations** (unaudited)

Six Months Ended January 31, 2023

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Investment Income (Loss)** | |
| &nbsp;&nbsp;&nbsp;&nbsp; Income |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest income | $13944767 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated dividend income | 575310 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total income** | 14520077 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expenses |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Management fee | 2653262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest expense | 2340262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 54303 |
| &nbsp;&nbsp;&nbsp;&nbsp; Shareholders' reports | 34926 |
| &nbsp;&nbsp;&nbsp;&nbsp; Custodian and accounting fees | 32300 |
| &nbsp;&nbsp;&nbsp;&nbsp; Audit fee | 22685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange listing fees | 13449 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfer agent's fees and expenses | 7574 |
| &nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees | 5774 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous | 12744 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total expenses** | 5177279 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 9342798 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized gain (loss) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment transactions | (2927976) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward currency contract transactions | 6804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreement transactions | (616162) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currency transactions | 2820 |
|  | (3534514) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | 2207527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures | 6880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward currency contracts | (87825) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Swap agreements | 3060141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign currencies | 414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unfunded loan commitment | 3295 |
|  | 5190432 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investment and foreign currency transactions | 1655918 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net Increase (Decrease) In Net Assets Resulting From Operations** | $10998716 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 153

------

**PGIM Short Duration High Yield Opportunities Fund** 

**Statements of Changes in Net Assets** (unaudited)

---

| | | |
|:---|:---|:---|
| <br>&nbsp;&nbsp; **Increase (Decrease) in Net Assets** | **Six Months Ended<br>January 31, 2023**<br> | **Year Ended**<br> **July 31, 2022**<br> |
| &nbsp;&nbsp; **Operations** |  |  |
| &nbsp;&nbsp; Net investment income (loss) | $9342798 | $17171252 |
| &nbsp;&nbsp; Net realized gain (loss) on investment and foreign currency transactions | (3534514) | (3753824) |
| &nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments and foreign currencies | 5190432 | (41424592) |
| &nbsp;&nbsp; Net increase (decrease) in net assets resulting from operations | 10998716 | (28007164) |
| &nbsp;&nbsp; **Dividends and Distributions** |  |  |
| &nbsp;&nbsp; Distributions from distributable earnings | (15988140) | (26846491) |
| &nbsp;&nbsp; Tax return of capital distributions |  | (5129790) |
| &nbsp;&nbsp; Total dividends and distributions | (15988140) | (31976281) |
| &nbsp;&nbsp; Total increase (decrease) | (4989424) | (59983445) |
| &nbsp;&nbsp; **Net Assets:** |  |  |
| &nbsp;&nbsp; Beginning of period | 431105997 | 491089442 |
| &nbsp;&nbsp; End of period | $426116573 | $431105997 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

**Statement of Cash Flows** (unaudited)

Six Months Ended January 31, 2023

---

| | |
|:---|:---|
|  **Cash Flows Provided By / (Used For) Operating Activities:** |  |
|  Net increase (decrease) in net assets resulting from operations | $10998716 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Adjustments To Reconcile Net Increase (Decrease) In Net Assets Resulting From Operations To Net Cash Provided By / (Used For) Operating Activities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Proceeds from disposition of long-term portfolio investments, net of amounts receivable | 68823001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases of long-term portfolio investments, net of amounts payable | (75997207) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net proceeds (purchases) of short-term portfolio investments | 50660124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net premiums (paid) received for swap agreements | 2460396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of premium and accretion of discount on portfolio investments | 2271290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on investment transactions | 2927976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on forward currency contract transactions | (6804) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on swap agreement transactions | 616162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized (gain) loss on foreign currency transactions | (2820) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on investments | (2207527) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on futures transactions | (6880) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on forward currency contracts | 87825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on swap agreements | (3060141) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on foreign currencies | (414) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net change in unrealized (appreciation) depreciation on unfunded loan commitments | (3295) |
| &nbsp;&nbsp;&nbsp;&nbsp;**(Increase) Decrease In Assets:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends and interest receivable | 272348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses | (87) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Increase (Decrease) In Liabilities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Management fee payable | (31224) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest payable | 66166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other liabilities | 63222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchange listing fees payable | 13449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trustees' fees payable | (856) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends payable | (126089) |
| &nbsp;&nbsp;&nbsp;&nbsp; Total adjustments | 46818615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by (used for) operating activities | 57817331 |
| &nbsp;&nbsp;&nbsp;&nbsp; Effect of exchange rate changes on cash | 16918 |
|  **Cash Flows Provided By (Used For) Financing Activities:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Decrease in borrowing | (40000000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash paid on distributions from distributable earnings | (15988140) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by (used for) financing activities | (55988140) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in cash and restricted cash, including foreign currency | 1846109 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash and restricted cash at beginning of period | 5424103 |
|  **Cash And Restricted Cash At End Of Period, Including Foreign Currency** | $7270212 |

---

See Notes to Financial Statements.

PGIM Fixed Income Closed-End Funds 155

------

**PGIM Short Duration High Yield Opportunities Fund** 

**Statement of Cash Flows** (unaudited) (continued)

Six Months Ended January 31, 2023

**Reconciliation Of Cash And Restricted Cash Reported With The Statement Of Assets And Liabilities To The Statement Of Cash Flows:** 

---

| | |
|:---|:---|
|  | **January 31, 2023** |
| &nbsp;&nbsp; Cash | $2992371 |
| &nbsp;&nbsp; Foreign currency, at value | 210006 |
| &nbsp;&nbsp; Restricted cash: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposit with broker for centrally cleared/exchange-traded derivatives | 3905000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from broker-variation margin swaps | 154491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due from broker-variation margin futures | 8344 |
| &nbsp;&nbsp; **Total cash and restricted cash** | $7270212 |

---

See Notes to Financial Statements.

------

**PGIM Short Duration High Yield Opportunities Fund** 

**Financial Highlights** (unaudited)

Six Months Ended January 31, 2023

---

| | | | |
|:---|:---|:---|:---|
|  | **Six Months<br>Ended January 31,<br>2023** | **Year Ended July 31,<br>2022** | **November 25, 2020<sup>(a)</sup><br>through July 31,<br>2021** |
| &nbsp;&nbsp;&nbsp; **Per Share Operating Performance<sup>(b)</sup>:** |  |  |  |
| &nbsp;&nbsp;&nbsp; **Net Asset Value, Beginning of Period** | $17.47 | $19.90 | $20.00 |
| &nbsp;&nbsp;&nbsp; **Income (loss) from investment operations:** |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.38 | 0.70 | 0.42 |
| &nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investment | 0.07 | (1.83) | 0.24 |
| &nbsp;&nbsp;&nbsp; Total from investment operations | 0.45 | (1.13) | 0.66 |
| &nbsp;&nbsp;&nbsp; **Less Dividends and Distributions:** |  |  |  |
| &nbsp;&nbsp;&nbsp; Dividends from net investment income | (0.65) | (1.09) | (0.73) |
| &nbsp;&nbsp;&nbsp; Tax return of capital distributions | - | (0.21) | (0.03) |
| &nbsp;&nbsp;&nbsp; Total dividends and distributions | (0.65) | (1.30) | (0.76) |
| &nbsp;&nbsp;&nbsp; Net asset value, end of period | $17.27 | $17.47 | $19.90 |
| &nbsp;&nbsp;&nbsp; Market price, end of period | $15.82 | $15.59 | $19.50 |
| &nbsp;&nbsp;&nbsp; **Total Return<sup>(c)</sup>:** | 5.95% | (13.84)% | 1.38% |
| &nbsp;&nbsp;&nbsp; **Ratios/Supplemental Data:** |  |  |  |
| &nbsp;&nbsp;&nbsp; Net assets, end of period (000) | $426117 | $431106 | $491089 |
| &nbsp;&nbsp;&nbsp; Average net assets (000) | $419370 | $465574 | $489610 |
| &nbsp;&nbsp;&nbsp; Ratios to average net assets<sup>(d)</sup>: |  |  |  |
| &nbsp;&nbsp;&nbsp; Expenses after waivers and/or expense reimbursement<sup>(e)</sup> | 2.45 %<sup>(f)</sup> | 1.75% | 1.50 %<sup>(g)</sup> |
| &nbsp;&nbsp;&nbsp; Expenses before waivers and/or expense reimbursement<sup>(e)</sup> | 2.45 %<sup>(f)</sup> | 1.75% | 1.50 %<sup>(g)</sup> |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | 4.42 %<sup>(f)</sup> | 3.69% | 3.09 %<sup>(g)</sup> |
| &nbsp;&nbsp;&nbsp; Portfolio turnover rate<sup>(h)</sup> | 14% | 32% | 45% |
| &nbsp;&nbsp;&nbsp; Asset coverage | 601% | 445% | 419% |
| &nbsp;&nbsp;&nbsp; Total debt outstanding at period-end (000) | $85000 | $125000 | $154000 |

---

(a) Commencement of operations.

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

(c) Total return is calculated assuming a purchase of common stock at the current market price on the first day and a sale at
the closing market price on the last day for the period reported. Dividends are assumed, for the purpose of this calculation, to be reinvested at prices obtainable under the Fund's dividend reinvestment plan. This amount does not reflect
brokerage commissions or sales load. 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) Includes interest expense of 1.11%, 0.37% and 0.20%, for the six months ended January 31, 2023, year ended
July 31, 2022 and period ended July 31, 2021, respectively. Includes tax expense of 0.01% for the period ended July 31, 2021

(f) Annualized.

(g) Annualized, with the exception of certain non-recurring expenses.

(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 Fixed Income Closed-End Funds 157

------

**Notes to Financial Statements** (unaudited)

**1.** **Organization** 

PGIM Global High Yield Fund, Inc. ("Global High Yield" or "GHY"), PGIM High Yield Bond Fund, Inc. ("High Yield Bond" or "ISD") and PGIM Short Duration High Yield Opportunities Fund ("Short Duration High Yield Opportunities" or "SDHY") (each, a "Fund" and collectively, the "Funds") are registered under the Investment Company Act of 1940, as amended ("1940 Act"), as diversified, closed-end management investment companies. Global High Yield and High Yield Bond were organized as Maryland corporations on July 23, 2012 and November 14, 2011, respectively. Short Duration High Yield Opportunities was organized as a Maryland statutory trust on May 18, 2020.

The Funds have the following investment objectives:

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| | |
|:---|:---|
| **Fund** | **Investment Objective(s)** |
|  Global High Yield | Provide a high level of current income.<br>|
|  High Yield Bond | Provide a high level of current income.<br>|
|  Short Duration High Yield Opportunities | Provide total return, through a combination of current income and capital appreciation.<br>|

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**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 its 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.* 

*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. Global High Yield and High Yield Bond Board of Directors and Short Duration High Yield Opportunities Board of Trustees (collectively, the "Board Members") has adopted valuation procedures for security valuation under which fair valuation responsibilities have been delegated to PGIM Investments LLC ("PGIM Investments" or the "Manager") Pursuant to the Board Member's delegation, the Manager has established a Valuation Committee responsible for supervising the fair valuation of portfolio securities and other assets and liabilities. The valuation procedures

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

Investments in open-end funds (other than exchange-traded funds) 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

PGIM Fixed Income Closed-End Funds 159

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

days. During the reporting period, there were no changes to report with respect to the valuation approach and/or valuation techniques discussed above.

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

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 Members. 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

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comparable securities; 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 Funds do 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 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 its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings or on specific receivables and payables denominated in a foreign currency and to gain exposure to certain currencies. The contracts are valued daily at current forward exchange

PGIM Fixed Income Closed-End Funds 161

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

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. The cash amounts pledged for forward currency contracts are considered restricted cash and are included in "Cash segregated for counterparty - OTC" in the Statement of Assets and Liabilities.

*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 ("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. The cash amounts pledged for swaps contracts are considered restricted cash and are included in "Due from broker-variation margin swaps" and "Deposit with broker for centrally cleared/exchange-traded derivatives" in the Statement of Assets and Liabilities.

*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.

Certain Funds are subject to credit risk in the normal course of pursuing its investment objectives, and as such, has entered into CDS contracts to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a

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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. A Fund's maximum risk of loss from counterparty credit risk for purchased CDS is the inability of the counterparty to honor the contract up to the notional value due to a credit event.

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

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

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

*Total Return Swaps:* In a total return swap, one party receives payments based on the market value of the security or the commodity involved, or total return of a specific referenced asset, such as an equity, index or bond, and in return pays a defined amount. Certain Funds are subject to risk exposures associated with the referenced asset in the normal course of pursuing its investment objectives. Certain Funds entered into total return swaps to manage its exposure to a security or an index. The Funds' maximum risk of loss from counterparty credit risk is the change in the value of the security, in the Fund's favor, from the point of entering into the contract.

PGIM Fixed Income Closed-End Funds 163

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

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

*Master Netting Arrangements:* The Funds are subject to various Master Agreements, or netting arrangements, with select counterparties. These are agreements which a subadviser may have negotiated and entered into on behalf of all or a portion of the Funds. A master netting arrangement between the Funds and the counterparty permits the Funds to offset amounts payable by the Fund to the same counterparty against amounts to be received; and by the receipt of collateral from the counterparty by the Funds to cover the Funds' 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.

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 the Fund is held in a segregated account by the Fund's custodian and with respect to those amounts which can be sold or re-pledged, is presented in the Schedule of Investments. Collateral pledged by the Fund is segregated by the Fund's custodian and identified in the Schedule of Investments. Collateral can be in the form of cash or debt securities issued by the U.S. Government or related agencies or other securities as agreed to

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by the Fund and the applicable counterparty. Collateral requirements are determined based on the Fund's net position with each counterparty. Termination events applicable to the Fund may occur upon a decline in the Fund's net assets below a specified threshold over a certain period of time. Termination events applicable to counterparties may occur upon a decline in the counterparty's long-term and short-term credit ratings below a specified level. In each case, upon occurrence, the other party may elect to terminate early and cause settlement of all derivative and foreign exchange contracts outstanding, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of the Fund's counterparties to elect early termination could impact the Fund's future derivative activity.

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

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

*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 Members approved fair valuation procedures.

*Payment-In-Kind:* Certain Funds invested in the open market or received pursuant to debt restructuring, securities that pay-in-kind (PIK) the interest due on such debt instruments. The PIK interest, computed at the contractual rate specified, is added to the existing principal balance of the debt when issued bonds have same terms as the bond or recorded as a separate bond when terms are different from the existing debt, and is recorded as interest income.

PGIM Fixed Income Closed-End Funds 165

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

*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.

*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 (for purposes of this report the shareholders of SDHY and the stockholders of ISD and GHY are referred to as "shareholders"). Therefore, no federal income tax provision is required. However, due to the timing of when distributions are made by the Fund, the Fund may be subject to an excise tax of 4% of the amount by which 98% of the Fund's annual taxable income for the calendar year and 98.2% of its net capital gains for a one-year period ending on October 31 exceed the distributions from such taxable income and net capital gains for the calendar year. The Global High Yield paid approximately $269,000 of Federal exise taxes attributable to calendar year 2022 in March 2023. 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:* The Funds intend to make a level dividend distribution each month to the holders of common stock of ISD and GHY, and to the holders of common shares of beneficial interest ("common shares") of SDHY (sometimes collectively referred to herein as "shares"). The level dividend rate may be modified by the Board Members from time to time, and will be based upon the past and projected performance and expenses of the Funds. The Funds intend to also make a distribution during or with respect to each calendar year (which may be combined with a regular monthly distribution), which will generally include any net investment income and net realized capital gain for the year not otherwise distributed.

PGIM Investments has received an order from the Securities and Exchange Commission (the "SEC") granting the Funds an exemption from Section 19(b) of the 1940 Act and Rule 19b-1 thereunder to permit certain closed-end funds managed by PGIM Investments to include realized long-term capital gains as a part of their respective regular distributions to the holders of common stock/common shares more frequently than would otherwise be permitted by the 1940 Act (generally once per taxable year). The Funds intend to rely on this exemptive order. The Board Members may, at the request of PGIM Investments, adopt a managed distribution policy.

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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 amongst total distributable earnings (loss) and paid-in capital in excess of par, as appropriate.

*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** 

Each Fund has a management agreement with PGIM Investments. Pursuant to these agreements, PGIM Investments has responsibility for all investment advisory services, supervises the subadviser's performance of such services and renders administrative services. With respect to ISD and GHY, PGIM Investments has entered into subadvisory agreements with PGIM, Inc., which provides subadvisory services to the Funds through its business unit PGIM Fixed Income, and PGIM, Inc. has entered into a sub-subadvisory agreement with PGIM Limited. With respect to SDHY, PGIM Investments has entered into a subadvisory agreement with PGIM, Inc., which provides subadvisory services to the Fund through its business unit PGIM Fixed Income, and PGIM Limited (collectively the "subadviser").

The management fee paid to the Manager is accrued daily and payable monthly, using the average daily value of the Fund's investable assets at the respective annual rates specified below. "Investable assets" refers to the net assets attributable to the outstanding common stock of the Fund plus the liquidation preference of any outstanding preferred stock issued by the Fund, the principal amount of any borrowings and the principal on any debt securities issued by the Fund.

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| | |
|:---|:---|
| **Fund** | **Management Fee** |
| &nbsp;&nbsp; Global High Yield | 0.85% |
| &nbsp;&nbsp; High Yield Bond | 0.80 |
| &nbsp;&nbsp; Short Duration High Yield Opportunities | 1.00 |

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

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

The Funds may enter into certain securities purchase or sale transactions under Board Members 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 January 31,

PGIM Fixed Income Closed-End Funds 167

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

2023, no 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 January 31, 2023, were as follows:

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| | | |
|:---|:---|:---|
| **Fund** | **Cost of<br>Purchases** | **Proceeds<br> from Sales** |
| &nbsp;&nbsp; Global High Yield | $60379276 | $56052753 |
| &nbsp;&nbsp; High Yield Bond | 77352263 | 50460934 |
| &nbsp;&nbsp; Short Duration High Yield Opportunities | 70820229 | 65364349 |

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

The United States federal income tax basis of the Funds' investments and the net unrealized depreciation as of January 31, 2023 were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Tax Basis** | **Gross Unrealized<br>Appreciation** | **Gross**<br> **Unrealized**<br> **Depreciation** | **Net**<br> **Unrealized<br>Depreciation** |
| &nbsp;&nbsp; Global High Yield | $753714514 | $9020365 | $(137391790) | $(128371425) |
| &nbsp;&nbsp; High Yield Bond | 651066507 | 10397604 | (78810715) | (68413111) |
| &nbsp;&nbsp; Short Duration High Yield Opportunities | 538557983 | 4583355 | (36342359) | (31759004) |

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

For federal income tax purposes, the following Funds had a capital loss carryforward as of July 31, 2022 which can be carried forward for an unlimited period. The Global High Yield and High Yield Bond utilized approximately $6,528,000 and $7,448,000, respectively, of its capital loss carryforward to offset net taxable gains realized in the fiscal year ended July 31, 2022. No capital gains distributions are expected to be paid to shareholders until net gains have been realized in excess of such losses.

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| | |
|:---|:---|
| **Fund** | **Capital Loss<br> Carryforward** |
| &nbsp;&nbsp; Global High Yield | $104048000 |
| &nbsp;&nbsp; High Yield Bond | 74649000 |
| &nbsp;&nbsp; Short Duration High Yield Opportunities | 6031000 |

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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

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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 July 31, 2022 are subject to such review.

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

Global High Yield and High Yield Bond have 1 billion shares of $0.001 par value common stock authorized. Short Duration High Yield Opportunities has authorized an unlimited amount of common shares of beneficial interest with $0.001 par value per share. As of January 31, 2023, Prudential, through its affiliated entities, including affiliated funds (if applicable), owned shares of the Funds as follows:

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| | | |
|:---|:---|:---|
| **Fund** | **Number of Shares** | **Percentage of<br>Outstanding Shares** |
| &nbsp;&nbsp; Global High Yield | 12610 | 0.03% |
| &nbsp;&nbsp; High Yield Bond | 12830 | 0.04 |
| &nbsp;&nbsp; Short Duration High Yield Opportunities | 6630 | 0.03 |

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

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| | | |
|:---|:---|:---|
| **Fund** | **Number of<br>Shareholders** | **Percentage of<br>Outstanding Shares** |
| &nbsp;&nbsp; **Affiliated:** | | |
| &nbsp;&nbsp; Global High Yield |  | —% |
| &nbsp;&nbsp; High Yield Bond |  |  |
| &nbsp;&nbsp; Short Duration High Yield Opportunities |  |  |
| &nbsp;&nbsp; **Unaffiliated:** |  |  |
| &nbsp;&nbsp; Global High Yield | 7 | 59.7 |
| &nbsp;&nbsp; High Yield Bond | 7 | 62.6 |
| &nbsp;&nbsp; Short Duration High Yield Opportunities | 6 | 74.6 |

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For the reporting period ended January 31, 2023, the Funds did not issue any shares of common stock/common shares in connection with the Funds' dividend reinvestment plan.

**8.** **Borrowings and Re-hypothecation** 

Each Fund has entered into a committed credit facility agreement (the "Credit Facility"). Global High Yield has entered into a credit facility agreement with BNP Paribas Prime Brokerage, Inc.; High Yield Bond and Short Duration High Yield Opportunities have entered into credit facility agreements with The Bank of Nova Scotia (collectively, the "Financial Institutions") pursuant to which Global High Yield, High Yield Bond and Short Duration High Yield Opportunities may borrow up to a maximum commitment amount of $300 million, $240 million and $250 million, respectively. The Funds will pay interest in the amount of 0.75% plus the 1-month U.S. Dollar London Interbank Offered Rate (LIBOR) on the amount outstanding. Such interest expenses, as well as fees for the Credit Facility (including commitment fees for any portion of the Credit Facility not drawn upon at any time during the period), are disclosed in the Statement of Operations under Interest and Miscellaneous

PGIM Fixed Income Closed-End Funds 169

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

expense, respectively. The Funds' obligations under the Credit Facility are secured by the assets of the Funds segregated for the purpose of securing the amount borrowed and are indicated in the Schedule of Investments. The purpose of the Credit Facility is to provide the Funds with portfolio leverage and to meet its general cash flow requirements. If the Funds fails to meet certain requirements or maintain other financial covenants required under the Credit Facility, the Funds may be required to repay immediately, in part or in full, the loan balance outstanding.

The following Funds utilized the credit facility during the reporting period ended January 31, 2023.The average balance outstanding is for the number of days the Funds utilized the credit facility.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fund** | **Average<br>Balance<br>Outstanding** | **Weighted<br>Average<br>Interest Rates** | **Number**<br> **of Days<br>Outstanding** | **Maximum Balance<br>Outstanding** | **Balance<br>Outstanding at<br>January 31, 2023** |
| &nbsp;&nbsp; Global High Yield | $90108696 | 4.33% | 184 | $105000000 | $105000000 |
| &nbsp;&nbsp; High Yield Bond | 114548913 | 4.36 | 184 | 120000000 | 120000000 |
| &nbsp;&nbsp; Short Duration High Yield Opportunities | 106739130 | 4.29 | 184 | 125000000 | 85000000 |

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*Re-hypothecation:* The credit facility permits, subject to certain conditions, the Financial Institutions to re-hypothecate, a portion of the portfolio securities segregated by the Funds as collateral. The Funds continue to receive interest on re-hypothecated securities. The Funds also have the right under the agreement to recall the re-hypothecated securities from the Financial Institutions on demand. If the Financial Institutions fail to deliver the recalled security in a timely manner, the Funds will be compensated by the Financial Institutions for any fees or losses related to the failed delivery or, in the event a recalled security will not be returned by the Financial Institutions, the Funds, upon notice to the Financial Institutions, may reduce the loan balance outstanding by the value of the recalled security failed to be returned plus accrued interest. The Funds will receive a portion of the fees earned by the Financial Institutions in connection with the re-hypothecation of portfolio securities which reduces the interest expense on borrowings. For the reporting period ended January 31, 2023, there were no re-hypothecated securities.

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

The following is a summary description of principal risks of investing in the Funds. Each Fund's risks include, but are not limited to, some or all of the risks discussed below.

*Credit Risk:* This is the risk that the issuer, the guarantor or the insurer of a fixed income security, or the counterparty to a contract, may be unable or unwilling to make timely principal and interest payments, or to otherwise honor its obligations. Additionally, fixed

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income securities could lose value due to a loss of confidence in the ability of the issuer, guarantor, insurer or counterparty to pay back debt. The longer the maturity and the lower the credit quality of a bond, the more sensitive it is to credit risk.

*Cyber Security Risk:* Failures or breaches of the electronic systems of the Fund, the Fund's manager, subadviser and other service providers, or the issuers of securities in which the Fund invests have the ability to cause disruptions and negatively impact the Fund's business operations, potentially resulting in financial losses to the Fund and its shareholders. While the Fund has established business continuity plans and risk management systems seeking to address system breaches or failures, there are inherent limitations in such plans and systems. Furthermore, the Fund cannot control the cyber security plans and systems of the Fund's service providers or issuers of securities in which the Fund invests.

*Debt Obligations Risk:* Debt obligations 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

PGIM Fixed Income Closed-End Funds 171

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

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.

*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.

*Interest Rate Risk:* The value of your investment may go down when interest rates rise. A rise in rates tends to have a greater impact on the prices of longer term or duration debt securities. For example, a fixed income security with a duration of three years is expected to

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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." 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.

*Leverage Risk:* The Fund may seek to enhance the level of its current distributions to holders of common shares through the use of leverage. The Fund may use leverage through borrowings, including loans from certain financial institutions. The Fund may borrow in amounts up to 33 1/3% (as determined immediately after borrowing) of the Fund's investable assets. The use of leverage can create special risks. There can be no assurance that any leveraging strategy the Fund employs will be successful during any period in which it is employed.

*Limited Term and Tender Offer Risk (applicable to SDHY only)*: In accordance with the Fund's Declaration of Trust (the "Declaration of Trust"), the Fund intends to terminate as of the close of business on the ninth anniversary of the effective date of the Fund's initial registration statement, which the Fund currently expects to occur on or about November 30, 2029 (the "Dissolution Date"); provided that the Board may, by a vote of a majority of the Board and seventy-five percent (75%) of the members of the Board who either (i) have been a member of the Board for a period of at least thirty-six months (or since the commencement of the Fund's operations, if less than thirty-six months) or (ii) were nominated to serve as a member of the Board by a majority of the Continuing Trustees (as defined in the Declaration of Trust) then members of the Board (the "75% Requirement") (a "Board Action Vote"), without shareholder approval, extend the Dissolution Date once for up to six months, which date shall then become the Dissolution Date. Notwithstanding the foregoing, the Board may determine, by a Board Action Vote, to cause the Fund to conduct a tender offer, as of a date within twelve months preceding the Dissolution Date (as may be extended as described above), to all common shareholders to purchase 100% of the then outstanding Common Shares of the Fund at a price equal to the NAV per Common Share on the expiration date of the tender offer (an "Eligible Tender Offer"). The Board has established that the Fund must have at least $200 million of net assets immediately following the completion of an Eligible Tender Offer to ensure the continued viability of the

PGIM Fixed Income Closed-End Funds 173

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

Fund (the "Dissolution Threshold"). In an Eligible Tender Offer, the Fund will offer to purchase all Common Shares held by each common shareholder; provided that if the number of properly tendered Common Shares would result in the Fund having aggregate net assets below the Dissolution Threshold, the Eligible Tender Offer will be canceled, no Common Shares will be repurchased pursuant to the Eligible Tender Offer, and the Fund will terminate as scheduled. If an Eligible Tender Offer is conducted and the number of properly tendered Common Shares would result in the Fund having aggregate net assets greater than or equal to the Dissolution Threshold, all Common Shares properly tendered and not withdrawn will be purchased by the Fund pursuant to the terms of the Eligible Tender Offer. Following the completion of an Eligible Tender Offer, the Board may, by a Board Action Vote, eliminate the Dissolution Date without shareholder approval and cause the Fund to have a perpetual existence. Unless the limited term provision of the Declaration of Trust is amended by the Board and the shareholders in accordance with the Declaration of Trust, or unless the Fund completes an Eligible Tender Offer and converts to perpetual existence, the Fund will terminate on or about the Dissolution Date (subject to possible extension). The Fund is not a so-called "target date" or "life cycle" fund whose asset allocation becomes more conservative over time as its target date, often associated with retirement, approaches. In addition, the Fund is not a "target term" fund as its investment objective is not to return its original NAV on the Dissolution Date or in an Eligible Tender Offer. The Fund's investment objective and policies are not designed to seek to return to investors that purchase shares in this offering their initial investment on the Dissolution Date or in an Eligible Tender Offer, and such investors and investors that purchase shares after the completion of this offering may receive more or less than their original investment upon dissolution or in an Eligible Tender Offer. Because the assets of the Fund will be liquidated in connection with the dissolution, the Fund will incur transaction costs in connection with dispositions of portfolio securities. The Fund does not limit its investments to securities having a maturity date prior to the Dissolution Date and may be required to sell portfolio securities when it otherwise would not, including at times when market conditions are not favorable, which may cause the Fund to lose money. In particular, the Fund's portfolio may still have large exposures to illiquid securities as the Dissolution Date approaches, and losses due to portfolio liquidation may be significant. The Fund generally considers "illiquid securities" to be securities that cannot be sold or disposed of within seven days in the ordinary course of business at approximately the value used by the Fund in determining its NAV. During the Wind-Down Period, the Fund may begin liquidating all or a portion of the Fund's portfolio, and the Fund may deviate from its investment strategy and may not achieve its investment objective. As a result, during the Wind-Down Period, the Fund's distributions may decrease, and such distributions may include a return of capital. It is expected that common shareholders will receive cash in any liquidating distribution from the Fund, regardless of their participation in the Fund's automatic dividend reinvestment plan. However, if on the Dissolution Date the Fund owns securities for which no market exists or securities that are trading at depressed prices, such securities may be placed in a liquidating trust. The Fund cannot predict the amount, if any,

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of securities that will be required to be placed in a liquidating trust. The Fund may receive proceeds from the disposition of portfolio investments that are less than the valuations of such investments by the Fund and, in particular, losses from the disposition of illiquid securities may be significant. The disposition of portfolio investments by the Fund could also cause market prices of such instruments, and hence the NAV and market price of the Common Shares, to decline. In addition, disposition of portfolio investments will cause the Fund to incur increased brokerage and related transaction expenses. Moreover, in conducting such portfolio transactions, the Fund may need to deviate from its investment policies and may not achieve its investment objective. The Fund's portfolio composition may change as its portfolio holdings mature or are called or sold in anticipation of an Eligible Tender Offer or the Dissolution Date. During such period(s), it is possible that the Fund will hold a greater percentage of its total assets in shorter term and lower yielding securities and cash and cash equivalents than it would otherwise, which may impede the Fund's ability to achieve its investment objective and adversely impact the Fund's performance and distributions to common shareholders, which may in turn adversely impact the market value of the Common Shares. In addition, the Fund may be required to reduce its leverage, which could also adversely impact its performance. The additional cash or cash equivalents held by the Fund could be obtained through reducing the Fund's distributions to common shareholders and/or holding cash in lieu of reinvesting, which could limit the ability of the Fund to participate in new investment opportunities. The Fund does not limit its investments to securities having a maturity date prior to or around the Dissolution Date, which may exacerbate the foregoing risks and considerations. A common shareholder may be subject to the foregoing risks over an extended period of time, particularly if the Fund conducts an Eligible Tender Offer and is also subsequently terminated by or around the Dissolution Date. If the Fund conducts an Eligible Tender Offer, the Fund anticipates that funds to pay the aggregate purchase price of shares accepted for purchase pursuant to the tender offer will be first derived from any cash on hand and then from the proceeds from the sale of portfolio investments held by the Fund. In addition, the Fund may be required to dispose of portfolio investments in connection with any reduction in the Fund's outstanding leverage necessary in order to maintain the Fund's desired leverage ratios following a tender offer. The risks related to the disposition of securities in connection with the Fund's dissolution also would be present in connection with the disposition of securities in connection with an Eligible Tender Offer. It is likely that during the pendency of a tender offer, and possibly for a time thereafter, the Fund will hold a greater than normal percentage of its total assets in cash and cash equivalents, which may impede the Fund's ability to achieve its investment objective and decrease returns to shareholders. The tax effect of any such dispositions of portfolio investments will depend on the difference between the price at which the investments are sold and the tax basis of the Fund in the investments. Any capital gains recognized on such dispositions, as reduced by any capital losses the Fund realizes in the year of such dispositions and by any available capital loss carryforwards, will be distributed to shareholders as capital gain dividends (to the extent of net long-term capital gains over net short-term capital losses) or ordinary dividends (to the extent of net short-term capital gains over net long-term capital losses) during or with respect to such year, and such distributions will generally be taxable to common shareholders. Therefore, the Fund's early disposition of portfolio investments could accelerate the timing of the Fund's recognition of taxable income

PGIM Fixed Income Closed-End Funds 175

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

and cause the Fund to make taxable distributions to common shareholders earlier than the Fund otherwise would have. The purchase of Common Shares by the Fund pursuant to a tender offer will have the effect of increasing the proportionate interest in the Fund of non-tendering common shareholders. All common shareholders remaining after a tender offer may be subject to proportionately higher expenses due to the reduction in the Fund's total assets resulting from payment for the tendered Common Shares. Such reduction in the Fund's total assets may result in less investment flexibility, reduced diversification and greater volatility for the Fund, and may have an adverse effect on the Fund's investment performance. Such reduction in the Fund's total assets may also cause Common Shares to become thinly traded or otherwise negatively impact secondary trading of Common Shares. A reduction in net assets, and the corresponding increase in the Fund's expense ratio, could result in lower returns and put the Fund at a disadvantage relative to its peers and potentially cause the Common Shares to trade at a wider discount to NAV than it otherwise would. Furthermore, the portfolio of the Fund following an Eligible Tender Offer could be significantly different and, therefore, common shareholders retaining an investment in the Fund could be subject to greater risk. For example, the Fund may be required to sell its more liquid, higher quality portfolio investments to purchase Common Shares that are tendered in an Eligible Tender Offer, which would leave a less liquid, lower quality portfolio for remaining shareholders. The prospects of an Eligible Tender Offer may attract arbitrageurs who would purchase the Common Shares prior to the tender offer for the sole purpose of tendering those shares which could have the effect of exacerbating the risks described herein for shareholders retaining an investment in the Fund following an Eligible Tender Offer. The Fund is not required to conduct an Eligible Tender Offer. If the Fund conducts an Eligible Tender Offer, there can be no assurance that the number of tendered Common Shares would not result in the Fund having aggregate net assets below the Dissolution Threshold, in which case the Eligible Tender Offer will be canceled, no Common Shares will be repurchased pursuant to the Eligible Tender Offer and the Fund will dissolve on the Dissolution Date (subject to possible extensions of no more than six months in total). Following the completion of an Eligible Tender Offer in which the number of tendered Common Shares would result in the Fund having aggregate net assets greater than or equal to the Dissolution Threshold, the Board may, by a Board Action Vote, eliminate the Dissolution Date without shareholder approval. Thereafter, the Fund will have a perpetual term. The Manager may have a conflict of interest in recommending to the Board that the Dissolution Date be eliminated because the Manager would continue to receive management fees on the remaining assets of the Fund while it remains in existence. The Fund is not required to conduct additional tender offers following an Eligible Tender Offer and conversion to perpetual existence. Therefore, remaining common shareholders may not have another opportunity to participate in a tender offer.

*Liquidity Risk:* The Fund may invest in instruments that trade in lower volumes and are less liquid than other investments. Liquidity risk exists when particular investments made by the

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Fund are difficult to purchase or sell. Liquidity risk includes the risk that the Fund may make investments that may become less liquid in response to market developments or adverse investor perceptions. Investments that are illiquid or trade in lower volumes may be more difficult to value. If the Fund is forced to sell these investments for any reason, the Fund may lose money. In addition, when there is no willing buyer and investments may not reasonably be expected to be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment, the Fund may incur higher transaction costs when executing trade order of a given size. 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), 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).

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.

COVID-19 and the related governmental and public responses have had and may continue to have an impact on the Fund's investments and net asset value and have led and may continue to lead to increased market volatility and the potential for illiquidity in certain classes of securities and sectors of the market. They have also had and may continue to result in periods of business disruption, business closures, inability to obtain raw materials, supplies and component parts, and reduced or disrupted operations for the issuers in which

PGIM Fixed Income Closed-End Funds 177

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

the Fund invests. The occurrence, reoccurrence and pendency of public health epidemics could adversely affect the economies and financial markets either in specific countries or worldwide.

*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.

*Reference Rate Risk:* The Fund may be exposed to financial instruments that are tied to the London Interbank Offered Rate ("LIBOR") to determine payment obligations, financing terms, hedging strategies or investment value. The United Kingdom's Financial Conduct Authority announced a phase out of LIBOR such that after June 30, 2023, the overnight, 1-month, 3-month, 6-month and 12-month U.S. dollar LIBOR settings will cease to be published or will no longer be representative. All other LIBOR settings and certain other interbank offered rates, such as the Euro Overnight Index Average ("EONIA"), ceased to be published or representative after December 31, 2021. The Fund may have investments linked to other interbank offered rates that may also cease to be published in the future. Various financial industry groups have been planning for the transition away from LIBOR, but there remain challenges to converting certain securities and transactions to a new reference rate (e.g., the Secured Overnight Financing Rate ("SOFR"), which is intended to replace the U.S. dollar LIBOR).

Neither the effect of the LIBOR transition process nor its ultimate success can yet be known. The transition process might lead to increased volatility and illiquidity in markets for instruments whose terms currently include LIBOR as well as loan facilities used by the Fund. While some existing LIBOR-based instruments may contemplate a scenario where LIBOR is no longer available by providing for an alternative rate-setting methodology, there may be significant uncertainty regarding the effectiveness of any such alternative methodologies to replicate LIBOR. Not all existing LIBOR-based instruments may have alternative rate-setting provisions and there remains uncertainty regarding the willingness and ability of issuers to add alternative rate-setting provisions in certain existing instruments. Global regulators have advised market participants to cease entering into new contracts using LIBOR as a reference rate, and it is possible that investments in LIBOR-based instruments could invite regulatory scrutiny. There may also be challenges for the Fund to enter into hedging transactions against such newly-issued instruments until a market for such hedging transactions develops. All of the aforementioned may adversely affect the Fund's performance or net asset value.

*Risks of Investments in Bank Loans:* The Fund's ability to receive payments of principal and interest and other amounts in connection with loans (whether through participations,

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assignments or otherwise) will depend primarily on the financial condition of the borrower. The failure by the Fund's scheduled interest or principal payments on a loan because of a default, bankruptcy or any other reason would adversely affect the income of the Fund and would likely reduce the value of its assets. Even with loans secured by collateral, there is the risk that the value of the collateral may decline, may be insufficient to meet the obligations of the borrower, or be difficult to liquidate. In the event of a default, the Fund may have difficulty collecting on any collateral and would not have the ability to collect on any collateral for an uncollateralized loan. Further, the Fund's access to collateral, if any, may be limited by bankruptcy laws.

*Risk of Market Price Discount from Net Asset Value:* Shares of closed-end funds frequently trade at a discount from their net asset value. This characteristic is a risk separate and distinct from the risk that net asset value could decrease as a result of investment activities.

**10.** **Subsequent Event** 

*Dividends to shareholders:* On February 28, 2023, Global High Yield and High Yield Bond declared monthly dividends of $0.105 per share and Short Duration High Yield Opportunities declared monthly dividends of $0.108 per share payable on March 31, 2023, April 28, 2023 and May 31, 2023, respectively, to shareholders of record on March 17, 2023, April 14, 2023 and May 12, 2023, respectively. The ex-dates are March 16, 2023, April 13, 2023 and May 11, 2023, respectively.

PGIM Fixed Income Closed-End Funds 179

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**Other Information** (unaudited)

ISD and GHY have elected to be subject to the Maryland Control Share Acquisition Act (the "MCSAA"). SDHY's Amended and Restated Declaration of Trust provides that SDHY shall be subject to the MCSAA to the same extent as if SDHY were a Maryland corporation that had elected to be subject to the MCSAA by resolution of its board of directors. In general, the MCSAA limits the ability of holders of "control shares" to vote those shares above various threshold levels that start at 10% unless the other stockholders of the applicable Fund reinstate those voting rights at a meeting of stockholders, in each case as provided in the MCSAA. "Control shares" are generally defined in the MCSAA as shares of stock that, if aggregated with all other shares of stock that are either (i) owned by a person or (ii) as to which that person is entitled to exercise or direct the exercise of voting power, except solely by virtue of a revocable proxy, would entitle that person to exercise voting power in electing directors above various thresholds of voting power starting at 10%. The manner in which shares of each Fund are held and voted may limit the Fund's ability to implement the MCSAA provisions. In addition, in situations where funds have sought to create control share provisions in their bylaws (as opposed to being subject to a state control share), recent court decisions have found that such provisions violate Section 18(i) of the 1940 Act.

**Portfolio Management.** Brian Lalli was added to each Fund's portfolio management team effective March 16, 2023.

Brian Lalli is a Principal and portfolio manager for PGIM Fixed Income's U.S. High Yield Bond Team. Previously, Mr. Lalli was a credit analyst for PGIM Fixed Income's U.S. Leveraged Finance Credit Research team. Prior to joining the Firm in 2020, Mr. Lalli was a Director at Barclays, covering several high yield and investment grades sectors as a senior credit analyst since 2010. Mr. Lalli received a BS in Business and Technology and a minor in Economics from Stevens Institute of Technology.

As of March 16th, 2023, Robert Cignarella, Robert Spano, Ryan Kelly, Brian Clapp, Michael Gormally and Brian Lalli of PGIM Fixed Income are primarily responsible for the day-to-day management of each Fund.

**Dividend Reinvestment Plan.** Unless a common shareholder of SDHY, or a holder of common stock of ISD or GHY (collectively referred to herein as "common shareholders") elects to receive cash by contacting Computershare Trust Company, N.A, (the "Plan Administrator"), all dividends declared on common shares of SDHY and common stock of ISD and GHY (collectively referred to herein as "Common Shares") will be automatically reinvested by the Plan Administrator pursuant to the Funds' Automatic Dividend Reinvestment Plan (the "Plan"), in additional Common Shares. The common shareholders who elect not to participate in the Plan will receive all dividends and other distributions (together, a "Dividend") in cash paid by check mailed directly to the shareholder of record (or, if the Common Shares are held in street or other nominee name, then to such nominee)

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by the Plan Administrator as dividend disbursing agent. Participation in the Plan is completely voluntary and may be terminated or resumed at any time without penalty by notice if received and processed by the Plan Administrator prior to the Dividend record date; otherwise such termination or resumption will be effective with respect to any subsequently declared Dividend. Such notice will be effective with respect to a particular Dividend. Some brokers may automatically elect to receive cash on behalf of the common shareholders and may reinvest that cash in additional Common Shares.

The Plan Administrator will open an account for each common shareholder under the Plan in the same name in which such common shareholder's Common Shares are registered. Whenever the Funds declare a Dividend payable in cash, non-participants in the Plan will receive cash and participants in the Plan will receive the equivalent in Common Shares. The Common Shares will be acquired by the Plan Administrator for the participants' accounts, depending upon the circumstances described below, either (i) through receipt of additional unissued but authorized Common Shares from the Fund ("Newly Issued Common Shares") or (ii) by purchase of outstanding Common Shares on the open market ("Open-Market Purchases") on the New York Stock Exchange or elsewhere. If, on the payment date for any Dividend, the closing market price per Common Share plus per share fees (as defined below) is equal to or greater than the NAV per Common Share (such condition being referred to as "market premium"), the Plan Administrator will invest the Dividend amount in Newly Issued Common Shares on behalf of the participants. The number of shares of Newly Issued Common Shares to be credited to each participant's account will be determined by dividing the dollar amount of the Dividend by the NAV per Common Share on the payment date, provided that, if the NAV per Common Share is less than or equal to 95% of the closing market price per Common Share on the payment date, the dollar amount of the Dividend will be divided by 95% of the closing market price per Common Share on the payment date. If, on the payment date for any Dividend, the NAV per Common Share is greater than the closing market value per Common Share plus per share fees (such condition being referred to as "market discount"), the Plan Administrator will invest the Dividend amount in Common Shares acquired on behalf of the participants in Open-Market Purchases. "Per share fees" include any applicable brokerage commissions the Plan Administrator is required to pay.

In the event of a market discount on the payment date for any Dividend, the Plan Administrator will have until the last business day before the next date on which the Common Shares trades on an "ex-dividend" basis or 30 days after the payment date for such Dividend, whichever is sooner (the "Last Purchase Date"), to invest the Dividend amount in Common Shares acquired in Open-Market Purchases on behalf of participants. If, before the Plan Administrator has completed its Open-Market Purchases, the market price per Common Share exceeds the NAV per Common Share, the average per share purchase price paid by the Plan Administrator for Common Shares may exceed the NAV

PGIM Fixed Income Closed-End Funds 181

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**Other Information** (unaudited) (continued)

per Common Share, resulting in the acquisition of fewer Common Shares than if the Dividend had been paid in shares of Newly Issued Common Shares on the Dividend payment date. Because of the foregoing difficulty with respect to Open-Market Purchases, the Plan provides that if the Plan Administrator is unable to invest the full Dividend amount in Open-Market Purchases during the purchase period or if the market discount shifts to a market premium during the purchase period, the Plan Administrator may cease making Open-Market Purchases and may invest the uninvested portion of the Dividend amount in Newly Issued Common Shares at the NAV per Common Share at the close of business on the Last Purchase Date, provided that, if the NAV is less than or equal to 95% of the then current market price per Common Share, the dollar amount of the Dividend will be divided by 95% of the market price on the payment date for purposes of determining the number of shares issuable under the Plan.

The Plan Administrator maintains all shareholder accounts in the Plan and furnishes written confirmation of all transactions in the accounts, including information needed by shareholders for tax records. Common Shares in the account of each Plan participant will be held by the Plan Administrator on behalf of the Plan participant, and each shareholder proxy will include those shares purchased or received pursuant to the Plan. The Plan Administrator will forward all proxy solicitation materials to participants and vote proxies for shares held under the Plan in accordance with the instructions of the participants.

In the case of the common shareholders such as banks, brokers or nominees that hold Common Shares for others who are the beneficial owners, the Plan Administrator will administer the Plan on the basis of the number of Common Shares certified from time to time by the record shareholder's name and held for the account of beneficial owners who participate in the Plan.

The Plan Administrator's service fee, if any, and expenses for administering the plan will be paid for by the Funds. If a participant elects by written, Internet or telephonic notice to the Plan Administrator to have the Plan Administrator sell part or all of the shares held by the Plan Administrator in the participant's account and remit the proceeds to the participant, the Plan Administrator is authorized to deduct a $15.00 transaction fee plus a $0.12 per share fee. If a participant elects to sell his or her Common Shares, the Plan Administrator will process all sale instructions received no later than five business days after the date on which the order is received by the Plan Administrator, assuming the relevant markets are open and sufficient market liquidity exists (and except where deferral is required under applicable federal or state laws or regulations). Such sale will be made through the Plan Administrator's broker on the relevant market and the sale price will not be determined until such time as the broker completes the sale. In every case the price to the participant shall be the weighted average sale price obtained by the Plan Administrator's broker net of fees for each aggregate order placed by the participant and executed by the broker. To

------

maximize cost savings, the Plan Administrator will seek to sell shares in round lot transactions. For this purpose the Plan Administrator may combine a participant's shares with those of other selling participants.

There will be no brokerage charges with respect to Common Shares issued directly by the Funds. However, each participant will be charged a per share fee (currently $0.05 per share) on all Open-Market Purchases. The automatic reinvestment of Dividends will not relieve participants of any federal, state or local income tax that may be payable (or required to be withheld) on such Dividends. Participants that request a sale of Common Shares through the Plan Administrator are subject to the fees described in the preceding paragraph.

Each participant may terminate the participant's account under the Plan by so notifying the Plan Administrator via the Plan Administrator's website at www.computershare.com/ investor, by filling out the transaction request form located at the bottom of the participant's Statement and sending it to the Plan Administrator or by calling the Plan Administrator. Such termination will be effective immediately if the participant's notice is received by the Plan Administrator prior to any Dividend record date. Upon any withdrawal or termination, the Plan Administrator will cause to be delivered to each terminating participant a statement of holdings for the appropriate number of the Fund's whole book-entry Common Shares and a check for the cash adjustment of any fractional share at the market value per Common Share as of the close of business on the date the termination is effective less any applicable fees. In the event a participant's notice of termination is on or after a record date (but before payment date) for an account whose Dividends are reinvested, the Plan Administrator, in its sole discretion, may either distribute such Dividends in cash or reinvest them in Common Shares on behalf of the terminating participant. In the event reinvestment is made, the Plan Administrator will process the termination as soon as practicable, but in no event later than five business days after the reinvestment is completed. The Plan may be terminated by the Funds upon notice in writing mailed to each participant at least 30 days prior to any record date for the payment of any Dividend by the Fund.

The Funds reserve the right to amend or terminate the Plan. There is no direct service charge to participants with regard to purchases in the Plan; however, the Funds reserve the right to amend the Plan to include a service charge payable by the participants.

All correspondence or questions concerning the Plan should be directed to the Plan Administrator, Computershare Trust Company, N.A., P.O. Box 43078, Providence, RI 02940-3078, by calling (toll-free) (800) 451-6788, or through the Plan Administrator's website www.computershare.com/investor.

PGIM Fixed Income Closed-End Funds 183

------

**Privacy Notice** 

Prudential values your business and your trust. We respect the privacy of your personal information and take our responsibility to protect it seriously. This privacy notice is provided on behalf of the Prudential companies listed at the end of this notice and applies to our current and former customers. **This notice describes how we treat the information we receive about you, including the ways in which we will share your personal information within Prudential and your right to opt out of such sharing.**

**Protecting Your Personal Information** 

We maintain physical, electronic, and procedural safeguards to protect your personal information. The people authorized to access your personal information need it to do their jobs, and we require that they keep your information secure and confidential.

**Personal Information We Collect** 

We collect your personal information from you, such as when you fill out applications and other forms, when you visit or enter personal details on our websites, when you respond to our emails, and when you provide information over the telephone. We also collect personal information about you that others give to us. Collectively, this personal information includes, for example:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Name

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· address, email address, telephone number, and other contact information

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· employment and occupation, demographic, income, and financial information

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Social Security number

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· transaction history

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· medical information for insurance applications

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· consumer reports from consumer reporting agencies

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· participant information from organizations that purchase products or services from us for the benefit of their members or
employees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· video and audio recordings, and biometric data

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· information gathered from your internet or network activity

**Using Your Information** 

We use your personal information for various business purposes, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· normal everyday business purposes, such as providing services to you and administrating your account or policy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· business research and analysis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· data analytics, modeling, and the deployment of automated tools

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· marketing products and services of Prudential and other companies that may interest you

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· detecting and preventing identity theft, fraud, or misuse of your accounts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· as required by law

------

**Sharing Your Information** 

We may share your personal information, including information about your transactions and experiences, among Prudential companies and with other non-Prudential companies who perform services for us or on our behalf, for our everyday business purposes, such as providing services to you, administering your account or policy. We may also share your personal information with another financial institution if you agree that your account or policy can be transferred to that financial company.

We may share your personal information among Prudential companies so that the Prudential companies can market their products and services to you. We may also share consumer report information among Prudential companies which may include information about you from credit reports and certain information that we receive from you and from consumer reporting agencies or other third parties. You can limit this sharing by following the instructions described in this notice. For those customers who have one of our products through a plan sponsored by an employer or other organization, we will share your personal information in a manner consistent with the terms of the plan agreement or consistent with our agreement with you.

We may also share your personal information as permitted or required by law, including, for example, to law enforcement officials and regulators, in response to subpoenas, and to prevent fraud.

Unless you agree otherwise, we do not share your personal information with non-Prudential companies for them to market their products or services to you. We may tell you about a product or service that other companies offer and, if you respond, that company will know that we selected you to receive the information.

**Limiting Our Sharing – Opt Out/Privacy Choice** 

You may tell us not to share your personal information among Prudential companies for marketing purposes, and not to share consumer report information among Prudential companies, by "opting out" of such sharing. To limit our sharing for these purposes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· visit us online at: https://www.prudential.com/links/privacy-center

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· call us at: 1-877-248-4019

**If you previously told us since 2016 not to share your personal information among Prudential companies for marketing purposes, or not to share your consumer report information among Prudential companies, you do not need to tell us not to share your information again.**

You are not able to limit our ability to share your personal information among Prudential companies and with other non-Prudential companies for servicing and administration purposes.

**Questions** 

If you have any questions about how we protect, use, and share your personal information or about this privacy notice, please call us. The toll-free number is 1-877-248-4019.

------

We reserve the right to modify this notice at any time. This notice is also available anytime at www.prudential.com.

This notice is being provided to customers and former customers of the Prudential companies listed below.

**Insurance Companies and Insurance Company Separate Accounts** 

The Prudential Insurance Company of America; Pruco Life Insurance Company; Pruco Life Insurance Company of New Jersey; Prudential Legacy Insurance Company of New Jersey; Insurance company separate accounts that include the following names or are otherwise identified as maintained by an entity that includes the following names: Prudential or Pruco (except for insurance company separate accounts sponsored by Prudential Retirement Insurance and Annuity Company (PRIAC), which were transferred to Empower as part of the sale of PRIAC to Empower Annuity Insurance Company of America and are no longer affiliated with Prudential)

**Insurance Agencies** 

Prudential Insurance Agency, LLC; Assurance IQ, LLC

**Broker-Dealers and Registered Investment Advisers** 

AST Investment Services, Inc.; Prudential Annuities Distributors, Inc.; Pruco Securities, LLC; PGIM, Inc.; Prudential Investment Management Services LLC; PGIM Investments LLC; PGIM Private Placement Investors, L.P.; Prudential Select Strategies LLC; PGIM Quantitative Solutions LLC; Jennison Associates LLC; PGIM Custom Harvest LLC

**Bank and Trust Companies** 

Prudential Trust Company

**Investment Companies and Other Investment Vehicles** 

PGIM Funds; Prudential Insurance Funds; All funds that include the following names: Prudential, PCP, PGIM, PEP, PCEP, or PSLO

**Other Companies** 

Prudential Workplace Solutions Group Services, LLC; Prudential Mutual Fund Services LLC

**Vermont Residents**: We will not share information about your creditworthiness among Prudential companies, other than as permitted by Vermont law, unless you authorize us to make those disclosures.

![LOGO](g435186g00s01.jpg)

------

Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

Privacy Ed 1/2023

D6021

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;∎ **MAIL** | ∎ **MAIL (OVERNIGHT)** | ∎ **TELEPHONE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Computershare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Computershare | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(800) 451-6788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; P.O. Box 43078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150 Royall Street | ∎ **WEBSITE** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Providence, RI | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Suite 101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; pgim.com/investments |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 02940-3078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canton, MA 02021 |  |

---

&nbsp;&nbsp;&nbsp; **PROXY VOTING**<br>The Board of Directors or Trustees (as applicable) of each Fund has delegated to the Fund's subadviser(s) the responsibility for voting any proxies and maintaining proxy recordkeeping with respect to the Fund. A description of these proxy voting policies and procedures is available without charge, upon request, by calling (800) 225-1852 or by visiting the Securities and Exchange Commission's website at sec.gov. Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available on the Fund's website and on the Securities and Exchange Commission's website.<br>

&nbsp;&nbsp;&nbsp; **DIRECTORS/TRUSTEES**<br>Ellen S. Alberding (GHY and ISD)● Kevin J. Bannon ● Scott E. Benjamin ● Barry H. Evans ● Keith F. Hartstein ● Stuart S. Parker ● Brian K. Reid ● Grace C. Torres<br>

&nbsp;&nbsp;&nbsp; **OFFICERS**<br>Stuart S. Parker, *President* ● Scott E. Benjamin, *Vice President* ● Christian J. Kelly, *Chief Financial Officer* ● Claudia DiGiacomo, *Chief Legal Officer* ● Isabelle Sajous, *Chief Compliance Officer* ● Andrew R. French, *Secretary* ● Melissa Gonzalez*, Assistant Secretary* ● Patrick E. McGuinness, *Assistant Secretary* ● Debra Rubano, *Assistant Secretary* ● Lana Lomuti, *Assistant Treasurer* ● Russ Shupak, *Treasurer and Principal Accounting Officer* ● Elyse M. McLaughlin, *Assistant Treasurer* ● Deborah Conway, *Assistant Treasurer* ● Robert McCormack, *Assistant Treasurer*<br>

---

| | | |
|:---|:---|:---|
| **MANAGER** | PGIM Investments LLC | 655 Broad Street<br> Newark, NJ 07102 |
| **SUBADVISER(S)** | PGIM Fixed Income | 655 Broad Street<br> Newark, NJ 07102 |
|  | PGIM Limited (SDHY only) | Grand Buildings, 1-3 Strand<br> Trafalgar Square<br> London, WC2N 5HR<br> United Kingdom |
| **CUSTODIAN** | The Bank of New York Mellon | 240 Greenwich Street<br> New York, NY 10286 |
| **TRANSFER AGENT** | Computershare Trust Company, N.A. | P.O. Box 43078<br> Providence, RI 02940-3078 |
| **INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** | PricewaterhouseCoopers LLP | 300 Madison Avenue<br> New York, NY 10017 |
| **FUND COUNSEL** | Willkie Farr & Gallagher LLP | 787 Seventh Avenue<br> New York, NY 10019 |

---

------

&nbsp;&nbsp;&nbsp; **SHAREHOLDER COMMUNICATIONS WITH DIRECTORS/TRUSTEES**<br>Shareholders can communicate directly with the Board of Directors or Trustees (as applicable) by writing to the Chair of the Board, PGIM Global High Yield Fund, Inc., PGIM High Yield Bond Fund, Inc., and PGIM Short Duration High Yield Opportunities Fund, PGIM Investments, Attn: Board of Directors or Trustees (as applicable), 655 Broad Street, Newark, NJ 07102. Shareholders can communicate directly with an individual Director/Trustee by writing to that Director/Trustee at the same address. Communications are not screened before being delivered to the addressee.<br>

&nbsp;&nbsp;&nbsp; **AVAILABILITY OF PORTFOLIO HOLDINGS**<br>Each Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. Each Fund's Form N-PORT filings are available on the Commission's website at sec.gov.<br>

&nbsp;&nbsp;&nbsp; **CERTIFICATIONS**<br>Each Fund's Chief Executive Officer has submitted to the New York Stock Exchange (NYSE) the required annual certifications and the Funds have also included the certifications of the Funds' Chief Executive Officer and Chief Financial Officer as required by Section 302 of the Sarbanes-Oxley Act, on the Funds' Form N-CSR filed with the Commission, for the period of this report.<br>

&nbsp;&nbsp;&nbsp; **An investor should consider the investment objectives, risks, charges, and expenses of a Fund carefully before investing.**<br>

<br> <u> Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940 that the Fund may purchase, from time to time, its shares at market prices. </u>

------

![LOGO](g435186sp61.jpg)

**PGIM FIXED INCOME CLOSED-END FUNDS** 

---

| | | |
|:---|:---|:---|
| **Fund** | **NYSE** | **CUSIP** |
|  &nbsp;&nbsp;&nbsp;&nbsp;PGIM Global High Yield Fund, Inc. | GHY | 69346J106 |
|  &nbsp;&nbsp;&nbsp;&nbsp;PGIM High Yield Bond Fund, Inc. | ISD | 69346H100 |
|  &nbsp;&nbsp;&nbsp;&nbsp;PGIM Short Duration High Yield Opportunities Fund  | SDHY | 69355J104 |

---

PICE1000E2

------

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 required, as this is not an annual filing.

Item 6 – Schedule of Investments – The schedule is included as part of the report to shareholders filed under Item 1 of this Form.

Item 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not required, as this is not an annual filing.

Item 8 – Portfolio Managers of Closed-End Management Investment Companies – Not required, as this is not an annual filing.

Item 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers – None.

---

| | |
|:---|:---|
| Item 10 – | Submission of Matters to a Vote of Security Holders – There have been no material changes to these procedures.  |

---

Item 11 – Controls and Procedures

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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 12 – Controls and Procedures - Disclosure of Securities Lending Activities for Closed-End

Management Investment Companies – None.

------

Item 13 – Exhibits

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

(a)(2) [Certifications pursuant to Section 302 of the Sarbanes-Oxley Act – Attached hereto as](d435186dex99cert.htm)

[Exhibit EX-99.CERT.](d435186dex99cert.htm)

(a)(2)(1) Any written solicitation to purchase securities under Rule 23c-1 – Not applicable.

(a)(2)(2) Change in the registrant's independent public accountant – Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [Certifications pursuant to Section 906 of the Sarbanes-Oxley Act – Attached hereto as](d435186dex99906cert.htm)

[Exhibit EX-99.906CERT.](d435186dex99906cert.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>PGIM High Yield Bond Fund, Inc.</u> |
| By: | <u>/s/ Andrew R. French</u> |
|  | Andrew R. French |
|  | Secretary |
| Date: | March 20, 2023 |

---

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: | March 20, 2023 |
| By: | <u>/s/ Christian J. Kelly</u> |
|  | Christian J. Kelly |
|  | Chief Financial Officer (Principal Financial Officer) |
| Date: | March 20, 2023 |

---

## Ex-99.Cert

Item 13

**PGIM High Yield Bond Fund, Inc.** 

Semi-Annual period ending 1/31/23

File No. 811-22632

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

I, Stuart S. Parker, certify that:

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

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

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

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

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

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.

March 20, 2023

---

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

---

------

Item 13

**PGIM High Yield Bond Fund, Inc.** 

Semi-Annual period ending 1/31/23

File No. 811-22632

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

I, Christian J. Kelly, certify that:

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

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

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

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

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

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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.

March 20, 2023

---

| |
|:---|
| <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>PGIM High Yield Bond 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.

---

| | |
|:---|:---|
|  March 20, 2023 | <u>/s/ Stuart S. Parker</u> |
|  | Stuart S. Parker |
|  | President and Principal Executive Officer |
|  March 20, 2023 | <u>/s/ Christian J. Kelly</u> |
|  | Christian J. Kelly |
|  | Chief Financial Officer (Principal Financial Officer) |

---

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