# EDGAR Filing Document

**Accession Number:** 0001104631
**File Stem:** 0001752724-25-182006
**Filing Date:** 2025-7
**Character Count:** 688869
**Document Hash:** ff3cbdfe189bfd134ce4ee7272c583a1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182006.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182006

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRUDENTIAL INVESTMENT PORTFOLIOS 3
- **CENTRAL INDEX KEY:** 0001104631

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09805
- **FILM NUMBER:** 251159610

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JENNISONDRYDEN OPPORTUNITY FUNDS
- **DATE OF NAME CHANGE:** 20080530

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STRATEGIC PARTNERS OPPORTUNITY FUNDS
- **DATE OF NAME CHANGE:** 20010906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STRATEGIC PARTNERS SERIES
- **DATE OF NAME CHANGE:** 20000131

## Series and Classes Contracts Data

### PGIM Strategic Bond Fund (Series ID: S000050053)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000158016 | Class A      | PUCAX           |
| C000158017 | Class C      | PUCCX           |
| C000158018 | Class Z      | PUCZX           |
| C000183669 | Class R6     | PUCQX           |

## Nport-Ex

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 100.5%** | **Long-Term Investments 100.5%** | **Long-Term Investments 100.5%** | **Long-Term Investments 100.5%** | **Long-Term Investments 100.5%** | **Long-Term Investments 100.5%** |
| **Asset-Backed Securities 13.1%** | **Asset-Backed Securities 13.1%** | **Asset-Backed Securities 13.1%** | **Asset-Backed Securities 13.1%** | **Asset-Backed Securities 13.1%** | **Asset-Backed Securities 13.1%** |
| **Automobiles 0.3%** | **Automobiles 0.3%** | **Automobiles 0.3%** | **Automobiles 0.3%** | **Automobiles 0.3%** | **Automobiles 0.3%** |
| Ally Bank Auto Credit-Linked Notes,<br> Series 2024-A, Class E, 144A | &nbsp;&nbsp;7.917% | &nbsp;&nbsp;05/17/32 |  | &nbsp;&nbsp;&nbsp;642 | &nbsp;&nbsp; $648704 |
| Bayview Opportunity Master Fund VII Trust,<br> Series 2024-CAR1F, Class A, 144A | &nbsp;&nbsp;6.971 | &nbsp;&nbsp;07/29/32 |  | &nbsp;&nbsp;&nbsp;446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445972 |
| Ford Credit Auto Owner Trust,<br> Series 2023-02, Class D, 144A | &nbsp;&nbsp;6.600 | &nbsp;&nbsp;02/15/36 |  | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241352 |
| Santander Bank Auto Credit-Linked Notes,<br> Series 2022-C, Class E, 144A | 11.366 | &nbsp;&nbsp;12/15/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17243 |
| Santander Consumer Auto Receivables Trust,<br> Series 2021-AA, Class E, 144A | &nbsp;&nbsp;3.280 | &nbsp;&nbsp;03/15/27 |  | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987471 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340742 |
| **Collateralized Loan Obligations 11.2%** | **Collateralized Loan Obligations 11.2%** | **Collateralized Loan Obligations 11.2%** | **Collateralized Loan Obligations 11.2%** | **Collateralized Loan Obligations 11.2%** | **Collateralized Loan Obligations 11.2%** |
| Battalion CLO Ltd. (Cayman Islands),<br> Series 2020-18A, Class BR, 144A, 3 Month SOFR + 2.012% (Cap N/A, Floor 1.750%) | &nbsp;&nbsp;6.268(c) | &nbsp;&nbsp;10/15/36 |  | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3010471 |
| Bilbao CLO DAC (Ireland),<br> Series 04A, Class B, 144A, 3 Month EURIBOR + 2.200% (Cap N/A, Floor 2.200%) | &nbsp;&nbsp;4.479(c) | &nbsp;&nbsp;04/15/36 | &nbsp;&nbsp;EUR | 5900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6706126 |
| BlueMountain CLO Ltd. (Cayman Islands),<br> Series 2019-25A, Class BRR, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | &nbsp;&nbsp;6.106(c) | &nbsp;&nbsp;01/15/38 |  | 6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5993519 |
| Carlyle Euro CLO DAC (Ireland), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-01A, Class A2RA, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%) | &nbsp;&nbsp;4.151(c) | &nbsp;&nbsp;03/15/32 | &nbsp;&nbsp;EUR | 8250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9376553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-02A, Class A2B, 144A | &nbsp;&nbsp;2.100 | &nbsp;&nbsp;10/15/35 | &nbsp;&nbsp;EUR | 9100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9683104 |
| Elevation CLO Ltd. (Cayman Islands),<br> Series 2021-14A, Class BR, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | &nbsp;&nbsp;5.969(c) | &nbsp;&nbsp;01/20/38 |  | 5750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5730739 |
| Fidelity Grand Harbour CLO DAC (Ireland),<br> Series 2021-01A, Class B1, 144A, 3 Month EURIBOR + 1.750% (Cap N/A, Floor 1.750%) | &nbsp;&nbsp;4.029(c) | &nbsp;&nbsp;10/15/34 | &nbsp;&nbsp;EUR | 9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10228864 |
| HPC Investment Partners CLO,<br> Series 2013-02RR, Class A2, 144A, 3 Month SOFR + 1.887% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;6.156(c) | &nbsp;&nbsp;10/20/29 |  | &nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460268 |
| Madison Park Euro Funding DAC (Ireland),<br> Series 14A, Class B1R, 144A, 3 Month EURIBOR + 1.700% (Cap N/A, Floor 1.700%) | &nbsp;&nbsp;3.979(c) | &nbsp;&nbsp;07/15/32 | &nbsp;&nbsp;EUR | 8050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9131553 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** | **Collateralized Loan Obligations (cont'd.)** |
| Madison Park Funding Ltd. (Cayman Islands),<br> Series 2018-29A, Class BR2, 144A, 3 Month SOFR + 1.600% (Cap N/A, Floor 1.600%) | 5.915 %(c) | &nbsp;&nbsp;03/25/38 |  | &nbsp;&nbsp;4000 | &nbsp;&nbsp; $3990527 |
| Menlo CLO Ltd. (Cayman Islands),<br> Series 2024-01A, Class C, 144A, 3 Month SOFR + 2.250% (Cap N/A, Floor 2.250%) | 6.519(c) | &nbsp;&nbsp;01/20/38 |  | &nbsp;&nbsp;5150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5171977 |
| Nassau Euro CLO DAC (Ireland),<br> Series 02A, Class BR, 144A, 3 Month EURIBOR + 1.900% (Cap N/A, Floor 1.900%) | 4.058(c) | &nbsp;&nbsp;04/25/39 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6227570 |
| Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands),<br> Series 2019-02A, Class A2R, 144A, 3 Month SOFR + 1.962% (Cap N/A, Floor 1.700%) | 6.218(c) | &nbsp;&nbsp;10/15/34 |  | 15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15017403 |
| Regatta Funding Ltd. (Cayman Islands),<br> Series 2019-01A, Class BRR, 144A, 3 Month SOFR + 1.800% (Cap N/A, Floor 1.800%) | 6.056(c) | &nbsp;&nbsp;10/15/37 |  | &nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5529305 |
| St. Pauls CLO (Netherlands),<br> Series 11A, Class C2R, 144A | 2.500 | &nbsp;&nbsp;01/17/32 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8941027 |
| St. Paul's CLO DAC (Ireland),<br> Series 04A, Class AR2B, 144A | 1.870 | &nbsp;&nbsp;04/25/30 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10035124 |
| Tikehau CLO DAC (Ireland),<br> Series 09A, Class B1R, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 2.000%) | 4.236(c) | &nbsp;&nbsp;01/20/37 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10802502 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126036632 |
| **Consumer Loans 0.8%** | **Consumer Loans 0.8%** | **Consumer Loans 0.8%** | **Consumer Loans 0.8%** | **Consumer Loans 0.8%** | **Consumer Loans 0.8%** |
| Affirm Asset Securitization Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-A, Class 1E, 144A | 9.170 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909169 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-X02, Class D, 144A | 6.080 | &nbsp;&nbsp;12/17/29 |  | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1706190 |
| Affirm Master Trust,<br> Series 2025-01A, Class D, 144A | 5.620 | &nbsp;&nbsp;02/15/33 |  | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2497680 |
| Island Finance Trust,<br> Series 2025-01A, Class A, 144A | 6.540 | &nbsp;&nbsp;03/19/35 |  | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013209 |
| OneMain Financial Issuance Trust,<br> Series 2023-02A, Class D, 144A | 7.520 | &nbsp;&nbsp;09/15/36 |  | &nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675640 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8801888 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** | **Asset-Backed Securities (Continued)** |
| **Other 0.6%** | **Other 0.6%** | **Other 0.6%** | **Other 0.6%** | **Other 0.6%** | **Other 0.6%** |
| GoodLeap Sustainable Home Solutions Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-03C, Class A, 144A | 6.500% | &nbsp;&nbsp;07/20/55 |  | &nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp; $391622 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01GS, Class A, 144A | 6.250 | &nbsp;&nbsp;06/20/57 |  | &nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786655 |
| Invitation Homes Trust,<br> Series 2024-SFR01, Class C, 144A | 4.250 | &nbsp;&nbsp;09/17/41 |  | 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1716924 |
| PMT Issuer Trust - FMSR,<br> Series 2024-FT01, Class A, 144A, 1 Month SOFR + 2.750% (Cap N/A, Floor 2.750%) | 7.069(c) | &nbsp;&nbsp;12/25/27 |  | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008147 |
| Sierra Timeshare Receivables Funding LLC,<br> Series 2023-02A, Class D, 144A | 9.720 | &nbsp;&nbsp;04/20/40 |  | &nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636100 |
| Sunrun Bacchus Issuer LLC,<br> Series 2025-01A, Class A1, 144A | 5.990 | &nbsp;&nbsp;04/30/60 |  | &nbsp;&nbsp;&nbsp;979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959536 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6498984 |
| **Residential Mortgage-Backed Securities 0.2%** | **Residential Mortgage-Backed Securities 0.2%** | **Residential Mortgage-Backed Securities 0.2%** | **Residential Mortgage-Backed Securities 0.2%** | **Residential Mortgage-Backed Securities 0.2%** | **Residential Mortgage-Backed Securities 0.2%** |
| LSF11 Boson Investments Sarl Compartment 2 (Spain),<br> Series 2021-NPLA, Class A1, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 0.000%) | 4.049(c) | &nbsp;&nbsp;11/25/60 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88713 |
| Pret LLC,<br> Series 2025-NPL02, Class A1, 144A | 5.835(cc) | &nbsp;&nbsp;03/25/55 |  | 1953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941021 |
| TFS (Spain),<br> Series 2018-03, Class A1, 1 Month EURIBOR + 3.250%^ | 5.554(c) | &nbsp;&nbsp;03/15/26 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178106 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207840 |
| **Student Loan 0.0%** | **Student Loan 0.0%** | **Student Loan 0.0%** | **Student Loan 0.0%** | **Student Loan 0.0%** | **Student Loan 0.0%** |
| Laurel Road Prime Student Loan Trust,<br> Series 2019-A, Class R, 144A | 0.000 | &nbsp;&nbsp;10/25/48 |  | &nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137208 |
| **Total Asset-Backed Securities<br> (cost $149,134,691)** | **Total Asset-Backed Securities<br> (cost $149,134,691)** | **Total Asset-Backed Securities<br> (cost $149,134,691)** | **Total Asset-Backed Securities<br> (cost $149,134,691)** | **Total Asset-Backed Securities<br> (cost $149,134,691)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147023294 |
| **Commercial Mortgage-Backed Securities 7.2%** | **Commercial Mortgage-Backed Securities 7.2%** | **Commercial Mortgage-Backed Securities 7.2%** | **Commercial Mortgage-Backed Securities 7.2%** | **Commercial Mortgage-Backed Securities 7.2%** | **Commercial Mortgage-Backed Securities 7.2%** |
| 20 Times Square Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-20TS, Class F, 144A(x) | 3.100(cc) | &nbsp;&nbsp;05/15/35 |  | 4900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3920000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-20TS, Class G, 144A(x) | 3.100(cc) | &nbsp;&nbsp;05/15/35 |  | 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3925000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-20TS, Class H, 144A(x) | 3.100(cc) | &nbsp;&nbsp;05/15/35 |  | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73500 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| ARES Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IND03, Class C, 144A, 1 Month SOFR + 2.100% (Cap N/A, Floor 2.100%) | 6.429 %(c) | &nbsp;&nbsp;04/15/42 | &nbsp;&nbsp;1130 | &nbsp;&nbsp; $1129294 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-IND03, Class D, 144A, 1 Month SOFR + 2.550% (Cap N/A, Floor 2.550%) | 6.879(c) | &nbsp;&nbsp;04/15/42 | &nbsp;&nbsp;1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057350 |
| BANK5, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05YR03, Class XD, IO, 144A | 3.315(cc) | &nbsp;&nbsp;09/15/56 | 11949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1115433 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2023-05YR04, Class XD, IO, 144A | 3.605(cc) | &nbsp;&nbsp;12/15/56 | 10349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058857 |
| Barclays Commercial Mortgage Securities Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-ETC, Class E, 144A | 3.609(cc) | &nbsp;&nbsp;08/14/36 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222937 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CHRS, Class D, 144A | 4.267(cc) | &nbsp;&nbsp;08/05/38 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214665 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-C04, Class XB, IO | 1.109(cc) | &nbsp;&nbsp;08/15/52 | 43170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780551 |
| Benchmark Mortgage Trust,<br> Series 2024-V05, Class XD, IO, 144A | 2.973(cc) | &nbsp;&nbsp;01/10/57 | 13473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254179 |
| BFLD Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-VICT, Class B, 144A, 1 Month SOFR + 2.589% (Cap N/A, Floor 2.589%) | 6.918(c) | &nbsp;&nbsp;07/15/41 | &nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-WRHS, Class E, 144A, 1 Month SOFR + 3.689% (Cap N/A, Floor 3.689%) | 8.018(c) | &nbsp;&nbsp;08/15/26 | &nbsp;&nbsp;1205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1203764 |
| BLP Commercial Mortgage Trust,<br> Series 2025-IND, Class D, 144A, 1 Month SOFR + 2.250% (Cap N/A, Floor 2.250%) | 6.579(c) | &nbsp;&nbsp;03/15/42 | &nbsp;&nbsp;1740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709550 |
| BMO Mortgage Trust,<br> Series 2024-05C04, Class XD, IO, 144A | 2.769(cc) | &nbsp;&nbsp;05/15/57 | 16130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1409488 |
| BPR Commercial Mortgage Trust,<br> Series 2024-PARK, Class C, 144A | 6.183(cc) | &nbsp;&nbsp;11/05/39 | &nbsp;&nbsp;2240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2262252 |
| BPR Trust,<br> Series 2023-BRK02, Class C, 144A | 8.335(cc) | &nbsp;&nbsp;10/05/38 | &nbsp;&nbsp;3800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3984282 |
| BX Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPOT, Class D, 144A, 1 Month SOFR + 2.492% (Cap N/A, Floor 2.492%) | 6.821(c) | &nbsp;&nbsp;04/15/40 | &nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2172698 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPOT, Class E, 144A, 1 Month SOFR + 3.690% (Cap N/A, Floor 3.690%) | 8.019(c) | &nbsp;&nbsp;04/15/40 | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091075 |
| BX Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-DIME, Class E, 144A, 1 Month SOFR + 3.000% (Cap N/A, Floor 3.000%) | 7.329(c) | &nbsp;&nbsp;02/15/35 | &nbsp;&nbsp;2110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093635 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-ROIC, Class D, 144A, 1 Month SOFR + 1.993% (Cap N/A, Floor 1.993%) | 6.321(c) | &nbsp;&nbsp;03/15/30 | &nbsp;&nbsp;1880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1842400 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-TAIL, Class E, 144A, 1 Month SOFR + 3.300% (Cap N/A, Floor 3.300%) | 7.600(c) | &nbsp;&nbsp;06/15/35 | &nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040000 |
| Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-277P, Class A, 144A | 6.338 | &nbsp;&nbsp;08/10/44 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624511 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| Commercial Mortgage Trust, (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-277P, Class X, IO, 144A | 0.661 %(cc) | &nbsp;&nbsp;08/10/44 | &nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp; $52428 |
| DBWF Mortgage Trust,<br> Series 2016-85T, Class D, 144A | 3.808(cc) | &nbsp;&nbsp;12/10/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230917 |
| FHLMC Multifamily Structured Pass-Through<br> Certificates, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series K055, Class X1, IO | 1.329(cc) | &nbsp;&nbsp;03/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7920 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series K066, Class X1, IO | 0.730(cc) | &nbsp;&nbsp;06/25/27 | &nbsp;&nbsp;&nbsp;&nbsp;6885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81038 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series K103, Class X1, IO | 0.635(cc) | &nbsp;&nbsp;11/25/29 | 147178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3565924 |
| GS Mortgage Securities Corp. Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-IP, Class F, 144A, 1 Month SOFR + 4.664% (Cap N/A, Floor 4.550%) | 8.993(c) | &nbsp;&nbsp;10/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;3090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3024892 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-800D, Class A, 144A, 1 Month SOFR + 2.650% (Cap N/A, Floor 2.650%) | 6.977(c) | &nbsp;&nbsp;11/25/41 | &nbsp;&nbsp;&nbsp;&nbsp;2155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2158629 |
| Hudson Yards Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPRL, Class D, 144A | 6.340(cc) | &nbsp;&nbsp;01/13/40 | &nbsp;&nbsp;&nbsp;&nbsp;1895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940595 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-SPRL, Class E, 144A | 6.678(cc) | &nbsp;&nbsp;01/13/40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988132 |
| JPMorgan Chase Commercial Mortgage Securities<br> Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-AON, Class D, 144A | 4.613(cc) | &nbsp;&nbsp;07/05/31 | &nbsp;&nbsp;&nbsp;&nbsp;8800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4180003 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2018-AON, Class E, 144A | 4.613(cc) | &nbsp;&nbsp;07/05/31 | &nbsp;&nbsp;&nbsp;&nbsp;9825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3021190 |
| MHC Commercial Mortgage Trust,<br> Series 2021-MHC, Class F, 144A, 1 Month SOFR + 2.715% (Cap N/A, Floor 2.601%) | 7.044(c) | &nbsp;&nbsp;04/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;2188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2186633 |
| NYC Commercial Mortgage Trust,<br> Series 2025-03BP, Class E, 144A, 1 Month SOFR + 3.540% (Cap N/A, Floor 3.540%) | 7.868(c) | &nbsp;&nbsp;02/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;2110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2066866 |
| ONE Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PARK, Class D, 144A, 1 Month SOFR + 1.614% (Cap N/A, Floor 1.500%) | 5.943(c) | &nbsp;&nbsp;03/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;738933 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PARK, Class E, 144A, 1 Month SOFR + 1.864% (Cap N/A, Floor 1.750%) | 6.193(c) | &nbsp;&nbsp;03/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372522 |
| ROCK Trust,<br> Series 2024-CNTR, Class E, 144A | 8.819 | &nbsp;&nbsp;11/13/41 | &nbsp;&nbsp;&nbsp;&nbsp;1895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1979448 |
| SCG Commercial Mortgage Trust,<br> Series 2025-DLFN, Class D, 144A, 1 Month SOFR + 2.150% (Cap N/A, Floor 2.150%) | 6.479(c) | &nbsp;&nbsp;03/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;1355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323572 |
| WCORE Commercial Mortgage Trust,<br> Series 2024-CORE, Class D, 144A, 1 Month SOFR + 2.940% (Cap N/A, Floor 2.940%) | 7.269(c) | &nbsp;&nbsp;11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2791744 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |
| Wells Fargo Commercial Mortgage Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FCMT, Class E, 144A, 1 Month SOFR + 4.614% (Cap N/A, Floor 4.500%) | 8.943 %(c) | &nbsp;&nbsp;05/15/31 | 11200 | &nbsp;&nbsp; $11005534 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-GRP, Class B, 144A, 1 Month SOFR + 2.291% (Cap N/A, Floor 2.291%) | 6.619(c) | &nbsp;&nbsp;10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703020 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-GRP, Class C, 144A, 1 Month SOFR + 2.940% (Cap N/A, Floor 2.940%) | 7.268(c) | &nbsp;&nbsp;10/15/41 | &nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103895 |
| **Total Commercial Mortgage-Backed Securities<br> (cost $94,551,758)** | **Total Commercial Mortgage-Backed Securities<br> (cost $94,551,758)** | **Total Commercial Mortgage-Backed Securities<br> (cost $94,551,758)** | **Total Commercial Mortgage-Backed Securities<br> (cost $94,551,758)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80403944 |
| **Corporate Bonds 36.7%** | **Corporate Bonds 36.7%** | **Corporate Bonds 36.7%** | **Corporate Bonds 36.7%** | **Corporate Bonds 36.7%** |
| **Aerospace & Defense 0.9%** | **Aerospace & Defense 0.9%** | **Aerospace & Defense 0.9%** | **Aerospace & Defense 0.9%** | **Aerospace & Defense 0.9%** |
| Boeing Co. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.700 | &nbsp;&nbsp;02/01/27 | &nbsp;&nbsp;1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002357 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.950 | &nbsp;&nbsp;08/01/59 | &nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990348 |
| Bombardier, Inc. (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.000 | &nbsp;&nbsp;02/15/28 | &nbsp;&nbsp;2750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2743125 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;06/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603390 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.875 | &nbsp;&nbsp;04/15/27 | &nbsp;&nbsp;2577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580221 |
| Embraer Netherlands Finance BV (Brazil),<br> Gtd. Notes, 144A | 7.000 | &nbsp;&nbsp;07/28/30 | &nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1976061 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9895502 |
| **Agriculture 0.0%** | **Agriculture 0.0%** | **Agriculture 0.0%** | **Agriculture 0.0%** | **Agriculture 0.0%** |
| Altria Group, Inc.,<br> Gtd. Notes | 3.400 | &nbsp;&nbsp;05/06/30 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93847 |
| **Airlines 0.5%** | **Airlines 0.5%** | **Airlines 0.5%** | **Airlines 0.5%** | **Airlines 0.5%** |
| American Airlines, Inc./AAdvantage Loyalty IP Ltd.,<br> Sr. Sec'd. Notes, 144A | 5.750 | &nbsp;&nbsp;04/20/29 | &nbsp;&nbsp;1925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1888560 |
| Delta Air Lines, Inc.,<br> Sr. Unsec'd. Notes | 3.750 | &nbsp;&nbsp;10/28/29 | &nbsp;&nbsp;1720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1620270 |
| Southwest Airlines Co.,<br> Sr. Unsec'd. Notes | 5.125 | &nbsp;&nbsp;06/15/27 | &nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699307 |
| United Airlines 2019-2 Class AA Pass-Through Trust,<br> Pass-Through Certificates | 2.700 | &nbsp;&nbsp;11/01/33 | &nbsp;&nbsp;&nbsp;&nbsp;348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307097 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Airlines (cont'd.)** | **Airlines (cont'd.)** | **Airlines (cont'd.)** | **Airlines (cont'd.)** | **Airlines (cont'd.)** |
| United Airlines, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.375% | &nbsp;&nbsp;04/15/26 | &nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp; $840433 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;04/15/29 | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379847 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5735514 |
| **Auto Manufacturers 0.3%** | **Auto Manufacturers 0.3%** | **Auto Manufacturers 0.3%** | **Auto Manufacturers 0.3%** | **Auto Manufacturers 0.3%** |
| Ford Motor Co.,<br> Sr. Unsec'd. Notes | 3.250 | &nbsp;&nbsp;02/12/32 | &nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722178 |
| Ford Motor Credit Co. LLC,<br> Sr. Unsec'd. Notes | 2.900 | &nbsp;&nbsp;02/16/28 | &nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509151 |
| General Motors Co.,<br> Sr. Unsec'd. Notes | 5.150 | &nbsp;&nbsp;04/01/38 | 1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127301 |
| General Motors Financial Co., Inc.,<br> Sr. Unsec'd. Notes | 3.600 | &nbsp;&nbsp;06/21/30 | 1365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256832 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3615462 |
| **Auto Parts & Equipment 0.6%** | **Auto Parts & Equipment 0.6%** | **Auto Parts & Equipment 0.6%** | **Auto Parts & Equipment 0.6%** | **Auto Parts & Equipment 0.6%** |
| American Axle & Manufacturing, Inc.,<br> Gtd. Notes(a) | 6.500 | &nbsp;&nbsp;04/01/27 | &nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945150 |
| Clarios Global LP/Clarios US Finance Co.,<br> Sr. Sec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;02/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50750 |
| Dana, Inc.,<br> Sr. Unsec'd. Notes | 5.375 | &nbsp;&nbsp;11/15/27 | 3015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2997001 |
| Phinia, Inc.,<br> Sr. Sec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;04/15/29 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204710 |
| Tenneco, Inc.,<br> Sr. Sec'd. Notes, 144A | 8.000 | &nbsp;&nbsp;11/17/28 | 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1994345 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6191956 |
| **Banks 6.9%** | **Banks 6.9%** | **Banks 6.9%** | **Banks 6.9%** | **Banks 6.9%** |
| Banco de Credito del Peru SA (Peru),<br> Sub. Notes, 144A, MTN | 3.250(ff) | &nbsp;&nbsp;09/30/31 | 1315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268567 |
| Bangkok Bank PCL (Thailand),<br> Sub. Notes, 144A | 3.466(ff) | &nbsp;&nbsp;09/23/36 | 1185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1040537 |
| Bank of America Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.687(ff) | &nbsp;&nbsp;04/22/32 | 1605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1417807 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | 2.496(ff) | &nbsp;&nbsp;02/13/31 | 2935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2649578 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** |
| Bank of America Corp., (cont'd.) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | &nbsp;&nbsp;2.884 %(ff) | &nbsp;&nbsp;10/22/30 | &nbsp;&nbsp;2450 | &nbsp;&nbsp; $2269515 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | &nbsp;&nbsp;3.194(ff) | &nbsp;&nbsp;07/23/30 | &nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;942324 |
| Barclays PLC (United Kingdom), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;2.894(ff) | &nbsp;&nbsp;11/24/32 | &nbsp;&nbsp;1270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104224 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;5.367(ff) | &nbsp;&nbsp;02/25/31 | &nbsp;&nbsp;2865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2884676 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;7.437(ff) | &nbsp;&nbsp;11/02/33 | &nbsp;&nbsp;1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1530808 |
| BNP Paribas SA (France),<br> Sr. Non-Preferred Notes, 144A, MTN | &nbsp;&nbsp;3.052(ff) | &nbsp;&nbsp;01/13/31 | &nbsp;&nbsp;2020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1854794 |
| Capital One NA,<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;2.700 | &nbsp;&nbsp;02/06/30 | &nbsp;&nbsp;3275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2967976 |
| Cassa Depositi e Prestiti SpA (Italy),<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;05/05/26 | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403594 |
| Citigroup, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series W | &nbsp;&nbsp;4.000(ff) | &nbsp;&nbsp;12/10/25(oo) | &nbsp;&nbsp;&nbsp;&nbsp;605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599011 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;2.976(ff) | &nbsp;&nbsp;11/05/30 | &nbsp;&nbsp;8950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8275413 |
| Freedom Mortgage Corp.,<br> Sr. Unsec'd. Notes, 144A(x) | 12.000 | &nbsp;&nbsp;10/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161099 |
| Goldman Sachs Group, Inc. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series U | &nbsp;&nbsp;3.650(ff) | &nbsp;&nbsp;08/10/26(oo) | &nbsp;&nbsp;1415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1371676 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;3.814(ff) | &nbsp;&nbsp;04/23/29 | &nbsp;&nbsp;&nbsp;&nbsp;265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259325 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;4.223(ff) | &nbsp;&nbsp;05/01/29 | &nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029446 |
| Intesa Sanpaolo SpA (Italy),<br> Sub. Notes, 144A | &nbsp;&nbsp;4.198(ff) | &nbsp;&nbsp;06/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629684 |
| JPMorgan Chase & Co.,<br> Jr. Sub. Notes, Series KK | &nbsp;&nbsp;3.650(ff) | &nbsp;&nbsp;06/01/26(oo) | 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17572844 |
| Mizrahi Tefahot Bank Ltd. (Israel),<br> Sub. Notes, 144A | &nbsp;&nbsp;3.077(ff) | &nbsp;&nbsp;04/07/31 | &nbsp;&nbsp;2545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465265 |
| Morgan Stanley, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN | &nbsp;&nbsp;3.772(ff) | &nbsp;&nbsp;01/24/29 | &nbsp;&nbsp;3780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3699126 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, GMTN | &nbsp;&nbsp;4.431(ff) | &nbsp;&nbsp;01/23/30 | &nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5453987 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | &nbsp;&nbsp;2.943(ff) | &nbsp;&nbsp;01/21/33 | &nbsp;&nbsp;6820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5995620 |
| Societe Generale SA (France), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Non-Preferred Notes, 144A | &nbsp;&nbsp;2.889(ff) | &nbsp;&nbsp;06/09/32 | &nbsp;&nbsp;&nbsp;&nbsp;745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645162 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Non-Preferred Notes, 144A | &nbsp;&nbsp;3.337(ff) | &nbsp;&nbsp;01/21/33 | &nbsp;&nbsp;2580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2252771 |
| Truist Financial Corp.,<br> Jr. Sub. Notes, Series N | &nbsp;&nbsp;6.669(ff) | &nbsp;&nbsp;09/01/25(oo) | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707877 |
| U.S. Bancorp,<br> Jr. Sub. Notes | &nbsp;&nbsp;3.700(ff) | &nbsp;&nbsp;01/15/27(oo) | &nbsp;&nbsp;3660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3501479 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** | **Banks (cont'd.)** |
| VTB Bank OJSC Via VTB Capital SA (Russia),<br> Sub. Notes | 6.950% | &nbsp;&nbsp;10/17/22(d) | 2240 | &nbsp;&nbsp; $112000 |
| Wells Fargo & Co.,<br> Sr. Unsec'd. Notes | 3.068(ff) | &nbsp;&nbsp;04/30/41 | 3150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2308485 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77374670 |
| **Building Materials 0.3%** | **Building Materials 0.3%** | **Building Materials 0.3%** | **Building Materials 0.3%** | **Building Materials 0.3%** |
| Cornerstone Building Brands, Inc.,<br> Gtd. Notes, 144A | 6.125 | &nbsp;&nbsp;01/15/29 | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108109 |
| Griffon Corp.,<br> Gtd. Notes | 5.750 | &nbsp;&nbsp;03/01/28 | &nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511623 |
| JELD-WEN, Inc.,<br> Gtd. Notes, 144A | 4.875 | &nbsp;&nbsp;12/15/27 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437508 |
| Quikrete Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 6.375 | &nbsp;&nbsp;03/01/32 | &nbsp;&nbsp;&nbsp;395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401272 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;03/01/33 | &nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162313 |
| Smyrna Ready Mix Concrete LLC,<br> Sr. Sec'd. Notes, 144A | 6.000 | &nbsp;&nbsp;11/01/28 | 1715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694157 |
| Standard Industries, Inc.,<br> Sr. Unsec'd. Notes, 144A | 4.375 | &nbsp;&nbsp;07/15/30 | &nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562923 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3877905 |
| **Chemicals 1.0%** | **Chemicals 1.0%** | **Chemicals 1.0%** | **Chemicals 1.0%** | **Chemicals 1.0%** |
| Ashland, Inc.,<br> Sr. Unsec'd. Notes, 144A | 3.375 | &nbsp;&nbsp;09/01/31 | &nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495745 |
| Braskem Netherlands Finance BV (Brazil), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.500 | &nbsp;&nbsp;01/10/28 | &nbsp;&nbsp;&nbsp;212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192496 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.500 | &nbsp;&nbsp;01/31/30 | &nbsp;&nbsp;&nbsp;262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215888 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 8.500 | &nbsp;&nbsp;01/12/31 | 4215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4036284 |
| OCP SA (Morocco), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A(a) | 3.750 | &nbsp;&nbsp;06/23/31 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;05/02/34 | 3331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367641 |
| Orbia Advance Corp. SAB de CV (Mexico),<br> Gtd. Notes, 144A | 6.800 | &nbsp;&nbsp;05/13/30 | 1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1568892 |
| Sasol Financing USA LLC (South Africa),<br> Gtd. Notes | 4.375 | &nbsp;&nbsp;09/18/26 | &nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711750 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10765090 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Commercial Services 0.9%** | **Commercial Services 0.9%** | **Commercial Services 0.9%** | **Commercial Services 0.9%** | **Commercial Services 0.9%** | **Commercial Services 0.9%** |
| Adtalem Global Education, Inc.,<br> Sr. Sec'd. Notes, 144A | 5.500% | &nbsp;&nbsp;03/01/28 |  | &nbsp;&nbsp;&nbsp;728 | &nbsp;&nbsp; $722997 |
| Allied Universal Holdco LLC/Allied Universal Finance Corp.,<br> Sr. Unsec'd. Notes, 144A | 6.000 | &nbsp;&nbsp;06/01/29 |  | 2825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2672811 |
| Allied Universal Holdco LLC/Allied Universal Finance<br> Corp./Atlas Luxco 4 Sarl, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;06/01/28 |  | &nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649325 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;06/01/28 |  | &nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401100 |
| Alta Equipment Group, Inc.,<br> Sec'd. Notes, 144A | 9.000 | &nbsp;&nbsp;06/01/29 |  | &nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;387214 |
| AMN Healthcare, Inc.,<br> Gtd. Notes, 144A | 4.625 | &nbsp;&nbsp;10/01/27 |  | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967729 |
| Boost Newco Borrower LLC,<br> Sr. Sec'd. Notes, 144A | 7.500 | &nbsp;&nbsp;01/15/31 |  | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211426 |
| DCLI Bidco LLC,<br> Second Mortgage, 144A | 7.750 | &nbsp;&nbsp;11/15/29 |  | &nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965943 |
| DP World Ltd. (United Arab Emirates),<br> Sr. Unsec'd. Notes | 4.250 | &nbsp;&nbsp;09/25/30 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641675 |
| Herc Holdings Escrow, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.000 | &nbsp;&nbsp;06/15/30 |  | &nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293651 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.250 | &nbsp;&nbsp;06/15/33 |  | &nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123452 |
| United Rentals North America, Inc.,<br> Gtd. Notes | 3.750 | &nbsp;&nbsp;01/15/32 |  | 2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1839846 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9877169 |
| **Computers 0.1%** | **Computers 0.1%** | **Computers 0.1%** | **Computers 0.1%** | **Computers 0.1%** | **Computers 0.1%** |
| CA Magnum Holdings (India),<br> Sr. Sec'd. Notes, 144A | 5.375 | &nbsp;&nbsp;10/31/26 |  | &nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528313 |
| Gartner, Inc.,<br> Gtd. Notes, 144A | 4.500 | &nbsp;&nbsp;07/01/28 |  | &nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346370 |
| NCR Atleos Corp.,<br> Sr. Sec'd. Notes, 144A | 9.500 | &nbsp;&nbsp;04/01/29 |  | &nbsp;&nbsp;&nbsp;656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716296 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590979 |
| **Distribution/Wholesale 0.1%** | **Distribution/Wholesale 0.1%** | **Distribution/Wholesale 0.1%** | **Distribution/Wholesale 0.1%** | **Distribution/Wholesale 0.1%** | **Distribution/Wholesale 0.1%** |
| H&E Equipment Services, Inc.,<br> Gtd. Notes, 144A | 3.875 | &nbsp;&nbsp;12/15/28 |  | 1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1489293 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Diversified Financial Services 2.5%** | **Diversified Financial Services 2.5%** | **Diversified Financial Services 2.5%** | **Diversified Financial Services 2.5%** | **Diversified Financial Services 2.5%** | **Diversified Financial Services 2.5%** |
| Blackstone Private Credit Fund,<br> Sr. Sec'd. Notes^ | 5.610% | &nbsp;&nbsp;05/03/27 |  | 1250 | &nbsp;&nbsp; $1238854 |
| Freedom Mortgage Holdings LLC,<br> Sr. Unsec'd. Notes, 144A(x) | 8.375 | &nbsp;&nbsp;04/01/32 |  | &nbsp;&nbsp;&nbsp;220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217974 |
| Greystone Commercial Capital Trust,<br> Sr. Unsec'd. Notes, Series A, 144A, 1 Month LIBOR + 2.270%^(x) | 7.230(c) | &nbsp;&nbsp;05/31/25(d) |  | 6293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5601043 |
| Jefferies Financial Group, Inc.,<br> Sr. Unsec'd. Notes | 4.150 | &nbsp;&nbsp;01/23/30 |  | &nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337743 |
| Jerrold Finco PLC (United Kingdom),<br> Sr. Sec'd. Notes, 144A | 7.500 | &nbsp;&nbsp;06/15/31 | &nbsp;&nbsp;GBP | 2075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2804586 |
| Nationstar Mortgage Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.125 | &nbsp;&nbsp;12/15/30 |  | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150086 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.500 | &nbsp;&nbsp;08/15/28 |  | 1590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587299 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.000 | &nbsp;&nbsp;01/15/27 |  | &nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800802 |
| OneMain Finance Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 3.875 | &nbsp;&nbsp;09/15/28 |  | 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690957 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.000 | &nbsp;&nbsp;09/15/30 |  | &nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675102 |
| PennyMac Financial Services, Inc.,<br> Gtd. Notes, 144A | 4.250 | &nbsp;&nbsp;02/15/29 |  | 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1711208 |
| Power Finance Corp. Ltd. (India),<br> Sr. Unsec'd. Notes, EMTN | 5.250 | &nbsp;&nbsp;08/10/28 |  | &nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804008 |
| Sherwood Financing PLC (United Kingdom),<br> Sr. Sec'd. Notes, 144A | 6.000 | &nbsp;&nbsp;11/15/26 | &nbsp;&nbsp;GBP | 3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4324151 |
| Stifel Financial Corp.,<br> Sr. Unsec'd. Notes | 4.000 | &nbsp;&nbsp;05/15/30 |  | 6525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6197507 |
| United Wholesale Mortgage LLC,<br> Sr. Unsec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;11/15/25 |  | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399528 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28540848 |
| **Electric 3.6%** | **Electric 3.6%** | **Electric 3.6%** | **Electric 3.6%** | **Electric 3.6%** | **Electric 3.6%** |
| Aydem Yenilenebilir Enerji A/S (Turkey), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | 7.750 | &nbsp;&nbsp;02/02/27 |  | 1359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350506 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 7.750 | &nbsp;&nbsp;02/02/27 |  | 1706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694841 |
| Calpine Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.500 | &nbsp;&nbsp;02/15/28 |  | &nbsp;&nbsp;&nbsp;670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657357 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;02/01/29 |  | 2775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;02/01/31 |  | 1175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138997 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.125 | &nbsp;&nbsp;03/15/28 |  | 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3965590 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** | **Electric (cont'd.)** |
| Cleco Corporate Holdings LLC,<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;3.375% | &nbsp;&nbsp;09/15/29 |  | &nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp; $272392 |
| CMS Energy Corp.,<br> Jr. Sub. Notes | &nbsp;&nbsp;4.750(ff) | &nbsp;&nbsp;06/01/50 |  | 1550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1463883 |
| Eskom Holdings SOC Ltd. (South Africa), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gov't. Gtd. Notes, 144A, MTN | &nbsp;&nbsp;6.350 | &nbsp;&nbsp;08/10/28 |  | 2485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2481894 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A, MTN | &nbsp;&nbsp;8.450 | &nbsp;&nbsp;08/10/28 |  | &nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316136 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, MTN | &nbsp;&nbsp;8.450 | &nbsp;&nbsp;08/10/28 |  | 2504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2586945 |
| Light S/A (Brazil),<br> Unsec'd. Notes | 23.382(s) | &nbsp;&nbsp;08/31/27 |  | &nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48859 |
| Light Servicos de Eletricidade SA (Brazil), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, PIK 2.260% | &nbsp;&nbsp;2.260 | &nbsp;&nbsp;12/19/37 |  | &nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70092 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | &nbsp;&nbsp;4.210 | &nbsp;&nbsp;12/19/32 |  | &nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391235 |
| Mong Duong Finance Holdings BV (Vietnam),<br> Sr. Sec'd. Notes | &nbsp;&nbsp;5.125 | &nbsp;&nbsp;05/07/29 |  | &nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837115 |
| NRG Energy, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;01/15/28 |  | &nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;3.375 | &nbsp;&nbsp;02/15/29 |  | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;3.625 | &nbsp;&nbsp;02/15/31 |  | 3525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3197680 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | &nbsp;&nbsp;3.875 | &nbsp;&nbsp;02/15/32 |  | 1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333664 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.250 | &nbsp;&nbsp;06/15/29 |  | 1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259876 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, 144A | 10.250(ff) | &nbsp;&nbsp;03/15/28(oo) |  | &nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247147 |
| Pacific Gas & Electric Co.,<br> Sr. Sec'd. Notes | &nbsp;&nbsp;3.250 | &nbsp;&nbsp;06/01/31 |  | 1650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1463210 |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara (Indonesia),<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;1.875 | &nbsp;&nbsp;11/05/31 | &nbsp;&nbsp;EUR | 1106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082356 |
| Puget Energy, Inc.,<br> Sr. Sec'd. Notes | &nbsp;&nbsp;4.100 | &nbsp;&nbsp;06/15/30 |  | 4130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3931704 |
| Vistra Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, 144A | &nbsp;&nbsp;7.000(ff) | &nbsp;&nbsp;12/15/26(oo) |  | &nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885584 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, 144A | &nbsp;&nbsp;8.000(ff) | &nbsp;&nbsp;10/15/26(oo) |  | 3125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3199088 |
| Vistra Operations Co. LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;4.375 | &nbsp;&nbsp;05/01/29 |  | &nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;07/31/27 |  | &nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403988 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;3.700 | &nbsp;&nbsp;01/30/27 |  | 3105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3047060 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40660228 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Electrical Components & Equipment 0.1%** | **Electrical Components & Equipment 0.1%** | **Electrical Components & Equipment 0.1%** | **Electrical Components & Equipment 0.1%** | **Electrical Components & Equipment 0.1%** |
| WESCO Distribution, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.375% | &nbsp;&nbsp;03/15/29 | &nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp; $209311 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.625 | &nbsp;&nbsp;03/15/32 | &nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164297 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 7.250 | &nbsp;&nbsp;06/15/28 | &nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986923 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360531 |
| **Electronics 0.1%** | **Electronics 0.1%** | **Electronics 0.1%** | **Electronics 0.1%** | **Electronics 0.1%** |
| Sensata Technologies, Inc.,<br> Gtd. Notes, 144A(a) | 3.750 | &nbsp;&nbsp;02/15/31 | &nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590646 |
| **Engineering & Construction 0.8%** | **Engineering & Construction 0.8%** | **Engineering & Construction 0.8%** | **Engineering & Construction 0.8%** | **Engineering & Construction 0.8%** |
| Mexico City Airport Trust (Mexico), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 3.875 | &nbsp;&nbsp;04/30/28 | 2330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2230253 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;10/31/46 | &nbsp;&nbsp;&nbsp;938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752481 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;07/31/47 | 6142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4887988 |
| TopBuild Corp.,<br> Gtd. Notes, 144A(a) | 4.125 | &nbsp;&nbsp;02/15/32 | &nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794822 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8665544 |
| **Entertainment 0.8%** | **Entertainment 0.8%** | **Entertainment 0.8%** | **Entertainment 0.8%** | **Entertainment 0.8%** |
| Caesars Entertainment, Inc.,<br> Gtd. Notes, 144A | 4.625 | &nbsp;&nbsp;10/15/29 | 2375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2217859 |
| CCM Merger, Inc.,<br> Sr. Unsec'd. Notes, 144A | 6.375 | &nbsp;&nbsp;05/01/26 | 2175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2175549 |
| International Game Technology PLC,<br> Sr. Sec'd. Notes, 144A | 6.250 | &nbsp;&nbsp;01/15/27 | &nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327438 |
| Jacobs Entertainment, Inc.,<br> Sr. Unsec'd. Notes, 144A | 6.750 | &nbsp;&nbsp;02/15/29 | &nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331528 |
| Penn Entertainment, Inc.,<br> Sr. Unsec'd. Notes, 144A | 5.625 | &nbsp;&nbsp;01/15/27 | 3125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3083717 |
| Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.,<br> Gtd. Notes, 144A | 5.875 | &nbsp;&nbsp;09/01/31 | 1375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815211 |
| Warnermedia Holdings, Inc.,<br> Gtd. Notes | 5.141 | &nbsp;&nbsp;03/15/52 | &nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524854 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9476156 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Environmental Control 0.0%** | **Environmental Control 0.0%** | **Environmental Control 0.0%** | **Environmental Control 0.0%** | **Environmental Control 0.0%** | **Environmental Control 0.0%** |
| GFL Environmental, Inc.,<br> Sr. Sec'd. Notes, 144A | 6.750% | &nbsp;&nbsp;01/15/31 |  | &nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp; $217020 |
| **Foods 1.1%** | **Foods 1.1%** | **Foods 1.1%** | **Foods 1.1%** | **Foods 1.1%** | **Foods 1.1%** |
| Albertson's Cos., Inc./Safeway, Inc./New Albertson's<br> LP/Albertson's LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.500 | &nbsp;&nbsp;03/15/29 |  | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188056 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.625 | &nbsp;&nbsp;01/15/27 |  | 1775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757581 |
| B&G Foods, Inc.,<br> Gtd. Notes | 5.250 | &nbsp;&nbsp;09/15/27 |  | &nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788470 |
| Bellis Acquisition Co. PLC (United Kingdom),<br> Sr. Sec'd. Notes | 8.125 | &nbsp;&nbsp;05/14/30 | &nbsp;&nbsp;GBP | 1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1844522 |
| Bellis Finco PLC (United Kingdom),<br> Sr. Unsec'd. Notes, 144A | 4.000 | &nbsp;&nbsp;02/16/27 | &nbsp;&nbsp;GBP | 3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4591230 |
| Ingles Markets, Inc.,<br> Sr. Unsec'd. Notes, 144A | 4.000 | &nbsp;&nbsp;06/15/31 |  | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137187 |
| Lamb Weston Holdings, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.125 | &nbsp;&nbsp;01/31/30 |  | &nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424534 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.375 | &nbsp;&nbsp;01/31/32 |  | &nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669128 |
| Pilgrim's Pride Corp.,<br> Gtd. Notes | 4.250 | &nbsp;&nbsp;04/15/31 |  | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1896679 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12297387 |
| **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** | **Forest Products & Paper 0.1%** |
| LD Celulose International GmbH (Brazil),<br> Sr. Sec'd. Notes, 144A | 7.950 | &nbsp;&nbsp;01/26/32 |  | 1615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1664863 |
| **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** | **Gas 0.1%** |
| AmeriGas Partners LP/AmeriGas Finance Corp.,<br> Sr. Unsec'd. Notes | 5.750 | &nbsp;&nbsp;05/20/27 |  | &nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288252 |
| Venture Global Plaquemines LNG LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 7.500 | &nbsp;&nbsp;05/01/33 |  | &nbsp;&nbsp;&nbsp;146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152612 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 7.750 | &nbsp;&nbsp;05/01/35 |  | &nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170719 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611583 |
| **Healthcare-Products 0.1%** | **Healthcare-Products 0.1%** | **Healthcare-Products 0.1%** | **Healthcare-Products 0.1%** | **Healthcare-Products 0.1%** | **Healthcare-Products 0.1%** |
| Medline Borrower LP,<br> Sr. Sec'd. Notes, 144A | 3.875 | &nbsp;&nbsp;04/01/29 |  | &nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919431 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Healthcare-Services 0.8%** | **Healthcare-Services 0.8%** | **Healthcare-Services 0.8%** | **Healthcare-Services 0.8%** | **Healthcare-Services 0.8%** |
| DaVita, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.750% | &nbsp;&nbsp;02/15/31 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp; $88553 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.625 | &nbsp;&nbsp;06/01/30 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2338367 |
| HCA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.875 | &nbsp;&nbsp;02/15/26 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200379 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 7.500 | &nbsp;&nbsp;11/06/33 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251292 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, MTN | 7.750 | &nbsp;&nbsp;07/15/36 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721681 |
| Tenet Healthcare Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | 4.250 | &nbsp;&nbsp;06/01/29 | &nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312139 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | 4.375 | &nbsp;&nbsp;01/15/30 | &nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | 4.625 | &nbsp;&nbsp;06/15/28 | &nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808791 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8557367 |
| **Holding Companies-Diversified 0.3%** | **Holding Companies-Diversified 0.3%** | **Holding Companies-Diversified 0.3%** | **Holding Companies-Diversified 0.3%** | **Holding Companies-Diversified 0.3%** |
| Clue Opco LLC,<br> Sr. Sec'd. Notes, 144A | 9.500 | &nbsp;&nbsp;10/15/31 | 2875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958675 |
| **Home Builders 1.4%** | **Home Builders 1.4%** | **Home Builders 1.4%** | **Home Builders 1.4%** | **Home Builders 1.4%** |
| Ashton Woods USA LLC/Ashton Woods Finance Co., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;08/01/29 | &nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640238 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A(a) | 4.625 | &nbsp;&nbsp;04/01/30 | &nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774012 |
| Beazer Homes USA, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.875 | &nbsp;&nbsp;10/15/27 | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123604 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes(a) | 7.250 | &nbsp;&nbsp;10/15/29 | 3233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3196149 |
| Brookfield Residential Properties, Inc./Brookfield<br> Residential US LLC (Canada), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.875 | &nbsp;&nbsp;02/15/30 | 1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1152750 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.250 | &nbsp;&nbsp;09/15/27 | &nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270187 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.000 | &nbsp;&nbsp;06/15/29 | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1068000 |
| KB Home, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.000 | &nbsp;&nbsp;06/15/31 | &nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557367 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes(a) | 6.875 | &nbsp;&nbsp;06/15/27 | &nbsp;&nbsp;&nbsp;941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966014 |
| M/I Homes, Inc.,<br> Gtd. Notes | 4.950 | &nbsp;&nbsp;02/01/28 | &nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788245 |
| Mattamy Group Corp. (Canada),<br> Sr. Unsec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;03/01/30 | 3575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3345235 |
| Shea Homes LP/Shea Homes Funding Corp.,<br> Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;02/15/28 | 1925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1883609 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Home Builders (cont'd.)** | **Home Builders (cont'd.)** | **Home Builders (cont'd.)** | **Home Builders (cont'd.)** | **Home Builders (cont'd.)** | **Home Builders (cont'd.)** |
| Taylor Morrison Communities, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.875% | &nbsp;&nbsp;06/15/27 |  | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp; $403360 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.125 | &nbsp;&nbsp;08/01/30 |  | &nbsp;&nbsp;&nbsp;530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516732 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15685502 |
| **Household Products/Wares 0.1%** | **Household Products/Wares 0.1%** | **Household Products/Wares 0.1%** | **Household Products/Wares 0.1%** | **Household Products/Wares 0.1%** | **Household Products/Wares 0.1%** |
| ACCO Brands Corp.,<br> Gtd. Notes, 144A | 4.250 | &nbsp;&nbsp;03/15/29 |  | 1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301121 |
| **Housewares 0.0%** | **Housewares 0.0%** | **Housewares 0.0%** | **Housewares 0.0%** | **Housewares 0.0%** | **Housewares 0.0%** |
| Newell Brands, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.375 | &nbsp;&nbsp;05/15/30 |  | &nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136498 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.625 | &nbsp;&nbsp;05/15/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69415 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205913 |
| **Insurance 0.0%** | **Insurance 0.0%** | **Insurance 0.0%** | **Insurance 0.0%** | **Insurance 0.0%** | **Insurance 0.0%** |
| Teachers Insurance & Annuity Association of America,<br> Sub. Notes, 144A | 4.900 | &nbsp;&nbsp;09/15/44 |  | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65842 |
| **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** | **Internet 0.1%** |
| Gen Digital, Inc.,<br> Gtd. Notes, 144A | 6.250 | &nbsp;&nbsp;04/01/33 |  | &nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269044 |
| United Group BV (Slovenia), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | 4.000 | &nbsp;&nbsp;11/15/27 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358859 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | 4.625 | &nbsp;&nbsp;08/15/28 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565181 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1193084 |
| **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** | **Iron/Steel 0.2%** |
| Big River Steel LLC/BRS Finance Corp.,<br> Sr. Sec'd. Notes, 144A | 6.625 | &nbsp;&nbsp;01/31/29 |  | &nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983579 |
| Cleveland-Cliffs, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.875 | &nbsp;&nbsp;11/01/29 |  | &nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227768 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 7.375 | &nbsp;&nbsp;05/01/33 |  | &nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137367 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 7.500 | &nbsp;&nbsp;09/15/31 |  | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359473 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Iron/Steel (cont'd.)** | **Iron/Steel (cont'd.)** | **Iron/Steel (cont'd.)** | **Iron/Steel (cont'd.)** | **Iron/Steel (cont'd.)** |
| Mineral Resources Ltd. (Australia),<br> Sr. Unsec'd. Notes, 144A | 9.250% | &nbsp;&nbsp;10/01/28 | &nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp; $459337 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2167524 |
| **Leisure Time 0.3%** | **Leisure Time 0.3%** | **Leisure Time 0.3%** | **Leisure Time 0.3%** | **Leisure Time 0.3%** |
| Carnival Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.750 | &nbsp;&nbsp;03/15/30 | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149811 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.000 | &nbsp;&nbsp;08/01/28 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96897 |
| NCL Corp. Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.875 | &nbsp;&nbsp;03/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;56 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55793 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 5.875 | &nbsp;&nbsp;02/15/27 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499375 |
| Royal Caribbean Cruises Ltd., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;08/31/26 | &nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;04/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24940 |
| Viking Cruises Ltd.,<br> Gtd. Notes, 144A | 5.875 | &nbsp;&nbsp;09/15/27 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299844 |
| Viking Ocean Cruises Ship VII Ltd.,<br> Sr. Sec'd. Notes, 144A | 5.625 | &nbsp;&nbsp;02/15/29 | 1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1059391 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3136051 |
| **Lodging 0.7%** | **Lodging 0.7%** | **Lodging 0.7%** | **Lodging 0.7%** | **Lodging 0.7%** |
| Gohl Capital Ltd. (Malaysia),<br> Gtd. Notes | 4.250 | &nbsp;&nbsp;01/24/27 | 1020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997050 |
| Las Vegas Sands Corp.,<br> Sr. Unsec'd. Notes | 3.900 | &nbsp;&nbsp;08/08/29 | &nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239202 |
| Marriott International, Inc.,<br> Sr. Unsec'd. Notes, Series FF | 4.625 | &nbsp;&nbsp;06/15/30 | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912971 |
| MGM China Holdings Ltd. (Macau),<br> Sr. Unsec'd. Notes, 144A | 4.750 | &nbsp;&nbsp;02/01/27 | 2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2115720 |
| MGM Resorts International, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes(a) | 4.750 | &nbsp;&nbsp;10/15/28 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467174 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.500 | &nbsp;&nbsp;04/15/27 | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250369 |
| Wynn Macau Ltd. (Macau),<br> Sr. Unsec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;01/15/26 | 1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393000 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7375486 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** | **Machinery-Diversified 0.1%** |
| Chart Industries, Inc.,<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;7.500% | &nbsp;&nbsp;01/01/30 |  | &nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp; $130625 |
| Maxim Crane Works Holdings Capital LLC,<br> Sec'd. Notes, 144A | 11.500 | &nbsp;&nbsp;09/01/28 |  | &nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926111 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056736 |
| **Media 1.5%** | **Media 1.5%** | **Media 1.5%** | **Media 1.5%** | **Media 1.5%** | **Media 1.5%** |
| CCO Holdings LLC/CCO Holdings Capital Corp.,<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.375 | &nbsp;&nbsp;06/01/29 |  | 1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330467 |
| Charter Communications Operating LLC/Charter Communications Operating Capital,<br> Sr. Sec'd. Notes | &nbsp;&nbsp;6.484 | &nbsp;&nbsp;10/23/45 |  | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48005 |
| CSC Holdings LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;3.375 | &nbsp;&nbsp;02/15/31 |  | 1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971425 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;4.125 | &nbsp;&nbsp;12/01/30 |  | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137435 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.375 | &nbsp;&nbsp;02/01/28 |  | &nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204930 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.500 | &nbsp;&nbsp;04/15/27 |  | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378906 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;4.625 | &nbsp;&nbsp;12/01/30 |  | &nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219482 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;01/15/30 |  | 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2042496 |
| DISH DBS Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;5.125 | &nbsp;&nbsp;06/01/29(d) |  | &nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147452 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;7.375 | &nbsp;&nbsp;07/01/28 |  | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341441 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;7.750 | &nbsp;&nbsp;07/01/26 |  | 4570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3930947 |
| DISH Network Corp.,<br> Sr. Sec'd. Notes, 144A | 11.750 | &nbsp;&nbsp;11/15/27 |  | &nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541369 |
| Univision Communications, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;06/01/27 |  | 1875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875440 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;08/15/28 |  | &nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625448 |
| Virgin Media Secured Finance PLC (United<br> Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | &nbsp;&nbsp;4.250 | &nbsp;&nbsp;01/15/30 | &nbsp;&nbsp;GBP | 2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3190142 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes | &nbsp;&nbsp;5.250 | &nbsp;&nbsp;05/15/29 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650447 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16635832 |
| **Mining 1.0%** | **Mining 1.0%** | **Mining 1.0%** | **Mining 1.0%** | **Mining 1.0%** | **Mining 1.0%** |
| AngloGold Ashanti Holdings PLC (Australia),<br> Gtd. Notes | &nbsp;&nbsp;3.375 | &nbsp;&nbsp;11/01/28 |  | 1405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324213 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Mining (cont'd.)** | **Mining (cont'd.)** | **Mining (cont'd.)** | **Mining (cont'd.)** | **Mining (cont'd.)** |
| Capstone Copper Corp. (Canada),<br> Gtd. Notes, 144A | 6.750% | &nbsp;&nbsp;03/31/33 | &nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp; $155000 |
| First Quantum Minerals Ltd. (Zambia),<br> Sec'd. Notes, 144A | 9.375 | &nbsp;&nbsp;03/01/29 | &nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220500 |
| Freeport Indonesia PT (Indonesia),<br> Sr. Unsec'd. Notes, EMTN | 5.315 | &nbsp;&nbsp;04/14/32 | &nbsp;&nbsp;&nbsp;820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808315 |
| Hecla Mining Co.,<br> Gtd. Notes | 7.250 | &nbsp;&nbsp;02/15/28 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502629 |
| Indonesia Asahan Aluminium PT/Mineral Industri Indonesia Persero PT (Indonesia),<br> Sr. Unsec'd. Notes | 6.530 | &nbsp;&nbsp;11/15/28 | 1710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786950 |
| New Gold, Inc. (Canada),<br> Sr. Unsec'd. Notes, 144A | 6.875 | &nbsp;&nbsp;04/01/32 | &nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107388 |
| Novelis Corp.,<br> Gtd. Notes, 144A | 3.250 | &nbsp;&nbsp;11/15/26 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471321 |
| Yamana Gold, Inc. (Canada),<br> Gtd. Notes | 2.630 | &nbsp;&nbsp;08/15/31 | 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4357160 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10733476 |
| **Oil & Gas 2.2%** | **Oil & Gas 2.2%** | **Oil & Gas 2.2%** | **Oil & Gas 2.2%** | **Oil & Gas 2.2%** |
| Aker BP ASA (Norway),<br> Sr. Unsec'd. Notes, 144A | 4.000 | &nbsp;&nbsp;01/15/31 | &nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138961 |
| Alta Mesa Holdings LP/Alta Mesa Finance Services Corp.,<br> Gtd. Notes | 7.875 | &nbsp;&nbsp;12/15/24(d) | 2950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3687 |
| Ascent Resources Utica Holdings LLC/ARU Finance<br> Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 9.000 | &nbsp;&nbsp;11/01/27 | 1004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.625 | &nbsp;&nbsp;10/15/32 | &nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282120 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 8.250 | &nbsp;&nbsp;12/31/28 | &nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837468 |
| BP Capital Markets PLC,<br> Gtd. Notes | 4.375(ff) | &nbsp;&nbsp;06/22/25(oo) | &nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634810 |
| Civitas Resources, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.000 | &nbsp;&nbsp;10/15/26 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980489 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 8.375 | &nbsp;&nbsp;07/01/28 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201482 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 8.625 | &nbsp;&nbsp;11/01/30 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197490 |
| Crescent Energy Finance LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 7.625 | &nbsp;&nbsp;04/01/32 | &nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444457 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 9.250 | &nbsp;&nbsp;02/15/28 | &nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320103 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** | **Oil & Gas (cont'd.)** |
| Ecopetrol SA (Colombia), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;4.625% | &nbsp;&nbsp;11/02/31 |  | &nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp; $512864 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;6.875 | &nbsp;&nbsp;04/29/30 |  | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;8.625 | &nbsp;&nbsp;01/19/29 |  | 2105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208145 |
| Expand Energy Corp., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;4.750 | &nbsp;&nbsp;02/01/32 |  | &nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542624 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;5.375 | &nbsp;&nbsp;02/01/29 |  | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499570 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.875 | &nbsp;&nbsp;02/01/29 |  | &nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426536 |
| Hilcorp Energy I LP/Hilcorp Finance Co., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;02/01/29 |  | &nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645278 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;6.000 | &nbsp;&nbsp;02/01/31 |  | &nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623995 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;6.250 | &nbsp;&nbsp;11/01/28 |  | &nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692203 |
| MEG Energy Corp. (Canada),<br> Gtd. Notes, 144A | &nbsp;&nbsp;5.875 | &nbsp;&nbsp;02/01/29 |  | &nbsp;&nbsp;&nbsp;950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945250 |
| New Generation Gas Gathering LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, 3 Month SOFR + 5.750% (Cap N/A, Floor 2.000%)^ | 10.030(c) | &nbsp;&nbsp;09/30/29 |  | &nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146419 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, 3 Month SOFR + 5.750% (Cap N/A, Floor 2.000%)^ | 10.030(c) | &nbsp;&nbsp;09/30/29 |  | &nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175702 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, 3 Month SOFR + 5.750% (Cap N/A, Floor 2.000%)^ | 10.076(c) | &nbsp;&nbsp;09/30/29 |  | &nbsp;&nbsp;&nbsp;149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146418 |
| Permian Resources Operating LLC,<br> Gtd. Notes, 144A | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;04/15/27 |  | &nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662628 |
| Petrobras Global Finance BV (Brazil),<br> Gtd. Notes | &nbsp;&nbsp;6.625 | &nbsp;&nbsp;01/16/34 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957993 |
| Petroleos Mexicanos (Mexico), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;5.350 | &nbsp;&nbsp;02/12/28 |  | &nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135936 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;03/13/27 |  | 3462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3398195 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;01/23/29 |  | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95379 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;6.840 | &nbsp;&nbsp;01/23/30 |  | &nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373980 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, EMTN | &nbsp;&nbsp;2.750 | &nbsp;&nbsp;04/21/27 | &nbsp;&nbsp;EUR | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, EMTN | &nbsp;&nbsp;4.875 | &nbsp;&nbsp;02/21/28 | &nbsp;&nbsp;EUR | 1036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138684 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, MTN | &nbsp;&nbsp;8.750 | &nbsp;&nbsp;06/02/29 |  | &nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131585 |
| Preem Holdings AB (Sweden),<br> Sr. Unsec'd. Notes | 12.000 | &nbsp;&nbsp;06/30/27 | &nbsp;&nbsp;EUR | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2344704 |
| Transocean, Inc.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;8.000 | &nbsp;&nbsp;02/01/27 |  | &nbsp;&nbsp;&nbsp;235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229125 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24332478 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Packaging & Containers 0.1%** | **Packaging & Containers 0.1%** | **Packaging & Containers 0.1%** | **Packaging & Containers 0.1%** | **Packaging & Containers 0.1%** |
| Clydesdale Acquisition Holdings, Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;8.750% | &nbsp;&nbsp;04/15/30 | &nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp; $674533 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;6.750 | &nbsp;&nbsp;04/15/32 | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252759 |
| Sealed Air Corp./Sealed Air Corp. US,<br> Gtd. Notes, 144A | &nbsp;&nbsp;6.125 | &nbsp;&nbsp;02/01/28 | &nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101062 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028354 |
| **Pharmaceuticals 0.9%** | **Pharmaceuticals 0.9%** | **Pharmaceuticals 0.9%** | **Pharmaceuticals 0.9%** | **Pharmaceuticals 0.9%** |
| AdaptHealth LLC, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;4.625 | &nbsp;&nbsp;08/01/29 | 1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;6.125 | &nbsp;&nbsp;08/01/28 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296748 |
| Bausch Health Cos., Inc., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;01/30/28 | &nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.000 | &nbsp;&nbsp;02/15/29 | &nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.250 | &nbsp;&nbsp;01/30/30 | 1175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675625 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;5.250 | &nbsp;&nbsp;02/15/31 | 4025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2133250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;6.250 | &nbsp;&nbsp;02/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49875 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | &nbsp;&nbsp;7.000 | &nbsp;&nbsp;01/15/28 | 1225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998375 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;4.875 | &nbsp;&nbsp;06/01/28 | 1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;877469 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 11.000 | &nbsp;&nbsp;09/30/28 | &nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286676 |
| CVS Health Corp.,<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;5.125 | &nbsp;&nbsp;07/20/45 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21446 |
| Mylan, Inc.,<br> Gtd. Notes | &nbsp;&nbsp;5.400 | &nbsp;&nbsp;11/29/43 | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2382889 |
| Organon & Co./Organon Foreign Debt Co-Issuer BV,<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;5.125 | &nbsp;&nbsp;04/30/31 | &nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441336 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10430237 |
| **Pipelines 0.9%** | **Pipelines 0.9%** | **Pipelines 0.9%** | **Pipelines 0.9%** | **Pipelines 0.9%** |
| Antero Midstream Partners LP/Antero Midstream Finance Corp.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;01/15/28 | 1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794837 |
| Energy Transfer LP, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series G | &nbsp;&nbsp;7.125(ff) | &nbsp;&nbsp;05/15/30(oo) | 2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2917228 |
| &nbsp;&nbsp;&nbsp;&nbsp;Jr. Sub. Notes, Series H | &nbsp;&nbsp;6.500(ff) | &nbsp;&nbsp;11/15/26(oo) | &nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;653862 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | &nbsp;&nbsp;5.300 | &nbsp;&nbsp;04/15/47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4252 |
| Enterprise Products Operating LLC,<br> Gtd. Notes, Series D, 3 Month SOFR + 3.248% | &nbsp;&nbsp;7.573(c) | &nbsp;&nbsp;08/16/77 | &nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198122 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Pipelines (cont'd.)** | **Pipelines (cont'd.)** | **Pipelines (cont'd.)** | **Pipelines (cont'd.)** | **Pipelines (cont'd.)** |
| ONEOK, Inc.,<br> Gtd. Notes | 4.950% | &nbsp;&nbsp;07/13/47 | &nbsp;&nbsp;&nbsp;&nbsp;25 | &nbsp;&nbsp; $20324 |
| Rockies Express Pipeline LLC,<br> Sr. Unsec'd. Notes, 144A | 6.875 | &nbsp;&nbsp;04/15/40 | &nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214701 |
| Tallgrass Energy Partners LP/Tallgrass Energy<br> Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.500 | &nbsp;&nbsp;01/15/28 | 1250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241564 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.000 | &nbsp;&nbsp;12/31/30 | 2150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2063993 |
| Venture Global LNG, Inc.,<br> Jr. Sub. Notes, 144A | 9.000(ff) | &nbsp;&nbsp;09/30/29(oo) | &nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657902 |
| Williams Cos., Inc. (The),<br> Sr. Unsec'd. Notes | 4.900 | &nbsp;&nbsp;01/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64968 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9831753 |
| **Real Estate 0.6%** | **Real Estate 0.6%** | **Real Estate 0.6%** | **Real Estate 0.6%** | **Real Estate 0.6%** |
| Agile Group Holdings Ltd. (China),<br> Sr. Sec'd. Notes | 6.050 | &nbsp;&nbsp;10/13/25(d) | 2085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140737 |
| Howard Hughes Corp. (The), |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.125 | &nbsp;&nbsp;02/01/29 | 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3757801 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 5.375 | &nbsp;&nbsp;08/01/28 | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903217 |
| Hunt Cos., Inc.,<br> Sr. Sec'd. Notes, 144A | 5.250 | &nbsp;&nbsp;04/15/29 | 1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893963 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6695718 |
| **Real Estate Investment Trusts (REITs) 0.6%** | **Real Estate Investment Trusts (REITs) 0.6%** | **Real Estate Investment Trusts (REITs) 0.6%** | **Real Estate Investment Trusts (REITs) 0.6%** | **Real Estate Investment Trusts (REITs) 0.6%** |
| Brixmor Operating Partnership LP,<br> Sr. Unsec'd. Notes(a) | 4.050 | &nbsp;&nbsp;07/01/30 | 1590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1523781 |
| Diversified Healthcare Trust, |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 4.375 | &nbsp;&nbsp;03/01/31 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650444 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;02/15/28 | 1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1557421 |
| Healthpeak OP LLC,<br> Gtd. Notes | 2.875 | &nbsp;&nbsp;01/15/31 | &nbsp;&nbsp;&nbsp;505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453696 |
| MPT Operating Partnership LP/MPT Finance Corp., |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 3.500 | &nbsp;&nbsp;03/15/31 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327505 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | 5.000 | &nbsp;&nbsp;10/15/27 | &nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393248 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 8.500 | &nbsp;&nbsp;02/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51280 |
| RHP Hotel Properties LP/RHP Finance Corp.,<br> Gtd. Notes, 144A | 6.500 | &nbsp;&nbsp;04/01/32 | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507270 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** | **Real Estate Investment Trusts (REITs) (cont'd.)** |
| VICI Properties LP/VICI Note Co., Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.250% | &nbsp;&nbsp;12/01/26 |  | &nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp; $341170 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.500 | &nbsp;&nbsp;09/01/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74561 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 4.625 | &nbsp;&nbsp;12/01/29 |  | &nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276559 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7156935 |
| **Retail 1.5%** | **Retail 1.5%** | **Retail 1.5%** | **Retail 1.5%** | **Retail 1.5%** | **Retail 1.5%** |
| 1011778 BC ULC/New Red Finance, Inc. (Canada),<br> Sec'd. Notes, 144A | 4.000 | &nbsp;&nbsp;10/15/30 |  | 1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241595 |
| AutoNation, Inc.,<br> Sr. Unsec'd. Notes | 4.750 | &nbsp;&nbsp;06/01/30 |  | 1880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847564 |
| Carvana Co., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, Cash coupon 9.000% or PIK 12.000% | 9.000 | &nbsp;&nbsp;12/01/28 |  | &nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265030 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, Cash coupon 11.000% or PIK 13.000% | 9.000 | &nbsp;&nbsp;06/01/30 |  | &nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843251 |
| CD&R Firefly Bidco PLC (United Kingdom),<br> Sr. Sec'd. Notes | 8.625 | &nbsp;&nbsp;04/30/29 | &nbsp;&nbsp;GBP | 4175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5807048 |
| Falabella SA (Chile),<br> Sr. Unsec'd. Notes, 144A | 3.375 | &nbsp;&nbsp;01/15/32 |  | 2855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2439169 |
| Fertitta Entertainment LLC/Fertitta Entertainment<br> Finance Co., Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 6.750 | &nbsp;&nbsp;01/15/30 |  | &nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816594 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 4.625 | &nbsp;&nbsp;01/15/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46885 |
| Gap, Inc. (The), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A | 3.625 | &nbsp;&nbsp;10/01/29 |  | &nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755484 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes, 144A(a) | 3.875 | &nbsp;&nbsp;10/01/31 |  | &nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662925 |
| Lithia Motors, Inc.,<br> Sr. Unsec'd. Notes, 144A | 3.875 | &nbsp;&nbsp;06/01/29 |  | &nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518276 |
| Sally Holdings LLC/Sally Capital, Inc.,<br> Gtd. Notes | 6.750 | &nbsp;&nbsp;03/01/32 |  | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254044 |
| Suburban Propane Partners LP/Suburban Energy Finance Corp.,<br> Sr. Unsec'd. Notes | 5.875 | &nbsp;&nbsp;03/01/27 |  | 1850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846977 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17344842 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Semiconductors 0.1%** | **Semiconductors 0.1%** | **Semiconductors 0.1%** | **Semiconductors 0.1%** | **Semiconductors 0.1%** | **Semiconductors 0.1%** |
| NXP BV/NXP Funding LLC/NXP USA, Inc.<br> (Netherlands), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;3.150% | &nbsp;&nbsp;05/01/27 |  | &nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp; $656761 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gtd. Notes | &nbsp;&nbsp;3.400 | &nbsp;&nbsp;05/01/30 |  | &nbsp;&nbsp;&nbsp;875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815452 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472213 |
| **Software 0.0%** | **Software 0.0%** | **Software 0.0%** | **Software 0.0%** | **Software 0.0%** | **Software 0.0%** |
| CoreWeave, Inc.,<br> Gtd. Notes, 144A | &nbsp;&nbsp;9.250 | &nbsp;&nbsp;06/01/30 |  | &nbsp;&nbsp;&nbsp;205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204751 |
| **Telecommunications 2.3%** | **Telecommunications 2.3%** | **Telecommunications 2.3%** | **Telecommunications 2.3%** | **Telecommunications 2.3%** | **Telecommunications 2.3%** |
| AT&T, Inc.,<br> Sr. Unsec'd. Notes | &nbsp;&nbsp;3.800 | &nbsp;&nbsp;12/01/57 |  | &nbsp;&nbsp;&nbsp;781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534804 |
| Digicel Group Holdings Ltd. (Jamaica), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, Series 1B14, 144A | &nbsp;&nbsp;0.000 | &nbsp;&nbsp;12/31/30 |  | &nbsp;&nbsp;&nbsp;127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, Series 3B14, 144A^ | &nbsp;&nbsp;0.000 | &nbsp;&nbsp;12/31/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Digicel Intermediate Holdings Ltd./Digicel International Finance Ltd./DIFL US LLC (Jamaica),<br> Sr. Sec'd. Notes, Cash coupon 9.000% and PIK 2.250% | 11.250 | &nbsp;&nbsp;05/25/27 |  | 3605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3614384 |
| Digicel Midco Ltd./DIFL US II LLC (Jamaica),<br> Sr. Unsec'd. Notes, PIK 10.500% | 10.500 | &nbsp;&nbsp;11/25/28 |  | 1655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603091 |
| Intelsat Jackson Holdings SA (Luxembourg),<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;6.500 | &nbsp;&nbsp;03/15/30 |  | 2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2606407 |
| Level 3 Financing, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | &nbsp;&nbsp;4.500 | &nbsp;&nbsp;04/01/30 |  | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154505 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A | &nbsp;&nbsp;4.875 | &nbsp;&nbsp;06/15/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68385 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 10.500 | &nbsp;&nbsp;04/15/29 |  | &nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197248 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A(a) | 10.500 | &nbsp;&nbsp;05/15/30 |  | &nbsp;&nbsp;&nbsp;545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596234 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A | 11.000 | &nbsp;&nbsp;11/15/29 |  | 2846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3234375 |
| Lorca Telecom Bondco SA (Spain),<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;5.750 | &nbsp;&nbsp;04/30/29 | &nbsp;&nbsp;EUR | 1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508625 |
| Millicom International Cellular SA (Guatemala),<br> Sr. Unsec'd. Notes, 144A | &nbsp;&nbsp;4.500 | &nbsp;&nbsp;04/27/31 |  | &nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640800 |
| Sprint Capital Corp.,<br> Gtd. Notes | &nbsp;&nbsp;8.750 | &nbsp;&nbsp;03/15/32 |  | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3593999 |
| TalkTalk Telecom Group Ltd. (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sec'd. Notes, 144A, Cash coupon N/A or PIK N/A | 11.750 | &nbsp;&nbsp;03/01/28 | &nbsp;&nbsp;GBP | 1842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297850 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** | **Corporate Bonds (Continued)** |
| **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** |
| TalkTalk Telecom Group Ltd. (United Kingdom), (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Sec'd. Notes, 144A, Cash coupon N/A or PIK N/A | &nbsp;&nbsp;8.250% | &nbsp;&nbsp;09/01/27 | &nbsp;&nbsp;GBP | 1950 | &nbsp;&nbsp; $1457122 |
| Total Play Telecomunicaciones SA de CV (Mexico),<br> Sr. Sec'd. Notes, 144A | 11.125 | &nbsp;&nbsp;12/31/32 |  | 1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775235 |
| VEON Holdings BV (Netherlands),<br> Sr. Unsec'd. Notes, EMTN | &nbsp;&nbsp;3.375 | &nbsp;&nbsp;11/25/27 |  | 2950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2702016 |
| Vmed O2 UK Financing I PLC (United Kingdom),<br> Sr. Sec'd. Notes | &nbsp;&nbsp;4.000 | &nbsp;&nbsp;01/31/29 | &nbsp;&nbsp;GBP | &nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689392 |
| Windstream Services LLC/Windstream Escrow Finance Corp.,<br> Sr. Sec'd. Notes, 144A | &nbsp;&nbsp;8.250 | &nbsp;&nbsp;10/01/31 |  | &nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145752 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25420237 |
| **Transportation 0.1%** | **Transportation 0.1%** | **Transportation 0.1%** | **Transportation 0.1%** | **Transportation 0.1%** | **Transportation 0.1%** |
| Lima Metro Line 2 Finance Ltd. (Peru),<br> Sr. Sec'd. Notes | &nbsp;&nbsp;5.875 | &nbsp;&nbsp;07/05/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79694 |
| Star Leasing Co. LLC,<br> Sec'd. Notes, 144A | &nbsp;&nbsp;7.625 | &nbsp;&nbsp;02/15/30 |  | 1280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204842 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1284536 |
| **Total Corporate Bonds<br> (cost $438,985,885)** | **Total Corporate Bonds<br> (cost $438,985,885)** | **Total Corporate Bonds<br> (cost $438,985,885)** | **Total Corporate Bonds<br> (cost $438,985,885)** | **Total Corporate Bonds<br> (cost $438,985,885)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411786287 |
| **Floating Rate and Other Loans 1.2%** | **Floating Rate and Other Loans 1.2%** | **Floating Rate and Other Loans 1.2%** | **Floating Rate and Other Loans 1.2%** | **Floating Rate and Other Loans 1.2%** | **Floating Rate and Other Loans 1.2%** |
| **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** | **Auto Parts & Equipment 0.0%** |
| Clarios Global LP,<br> Amendment No. 6 Dollar Term Loan, 1 Month SOFR + 2.750% | &nbsp;&nbsp;7.077(c) | &nbsp;&nbsp;01/28/32 |  | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249062 |
| Tenneco, Inc.,<br> Term A Loan, 1 Month SOFR + 4.850% | &nbsp;&nbsp;9.173(c) | &nbsp;&nbsp;11/17/28 |  | &nbsp;&nbsp;&nbsp;389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375051 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624113 |
| **Commercial Services 0.0%** | **Commercial Services 0.0%** | **Commercial Services 0.0%** | **Commercial Services 0.0%** | **Commercial Services 0.0%** | **Commercial Services 0.0%** |
| Adtalem Global Education, Inc.,<br> 2024 Second Repricing Term Loan, 1 Month SOFR + 2.750% | &nbsp;&nbsp;7.077(c) | &nbsp;&nbsp;08/12/28 |  | &nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255428 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** |
| **Computers 0.1%** | **Computers 0.1%** | **Computers 0.1%** | **Computers 0.1%** | **Computers 0.1%** | **Computers 0.1%** |
| McAfee Corp.,<br> Refinancing Tranche B-1, 1 Month SOFR + 3.000% | &nbsp;&nbsp;7.329 %(c) | &nbsp;&nbsp;03/01/29 |  | 1703 | &nbsp;&nbsp; $1632199 |
| **Insurance 0.1%** | **Insurance 0.1%** | **Insurance 0.1%** | **Insurance 0.1%** | **Insurance 0.1%** | **Insurance 0.1%** |
| Asurion LLC,<br> New B-11 Term Loan, 1 Month SOFR + 4.350% | &nbsp;&nbsp;8.677(c) | &nbsp;&nbsp;08/21/28 |  | &nbsp;&nbsp;&nbsp;691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688707 |
| **Internet 0.0%** | **Internet 0.0%** | **Internet 0.0%** | **Internet 0.0%** | **Internet 0.0%** | **Internet 0.0%** |
| Diamond Sports Net LLC,<br> First Lien Exit Term Loan | 15.000 | &nbsp;&nbsp;01/02/28 |  | &nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224574 |
| **Leisure Time 0.1%** | **Leisure Time 0.1%** | **Leisure Time 0.1%** | **Leisure Time 0.1%** | **Leisure Time 0.1%** | **Leisure Time 0.1%** |
| International Park Holdings BV (Netherlands),<br> 2025 Facility B, 6 Month EURIBOR + 5.500%^ | &nbsp;&nbsp;8.099(c) | &nbsp;&nbsp;01/30/32 | &nbsp;&nbsp;EUR | 1025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138297 |
| **Media 0.1%** | **Media 0.1%** | **Media 0.1%** | **Media 0.1%** | **Media 0.1%** | **Media 0.1%** |
| CSC Holdings LLC,<br> 2022 Refinancing Term Loan, 1 Month SOFR + 4.500% | &nbsp;&nbsp;8.829(c) | &nbsp;&nbsp;01/18/28 |  | &nbsp;&nbsp;&nbsp;819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803961 |
| **Metal Fabricate/Hardware 0.2%** | **Metal Fabricate/Hardware 0.2%** | **Metal Fabricate/Hardware 0.2%** | **Metal Fabricate/Hardware 0.2%** | **Metal Fabricate/Hardware 0.2%** | **Metal Fabricate/Hardware 0.2%** |
| Doncasters US Finance LLC (United Kingdom), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 Term Loan, 3 Month SOFR + 6.500%^ | 10.799(c) | &nbsp;&nbsp;04/23/30 |  | &nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177750 |
| &nbsp;&nbsp;&nbsp;&nbsp;Initial Term Loan, 3 Month SOFR + 6.500%^ | 10.799(c) | &nbsp;&nbsp;04/23/30 |  | 1856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833047 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2010797 |
| **Real Estate Investment Trusts (REITs) 0.1%** | **Real Estate Investment Trusts (REITs) 0.1%** | **Real Estate Investment Trusts (REITs) 0.1%** | **Real Estate Investment Trusts (REITs) 0.1%** | **Real Estate Investment Trusts (REITs) 0.1%** | **Real Estate Investment Trusts (REITs) 0.1%** |
| Blackstone Mortgage Trust, Inc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Term B-5 Loan, 1 Month SOFR + 3.750%^ | &nbsp;&nbsp;8.077(c) | &nbsp;&nbsp;12/10/28 |  | &nbsp;&nbsp;&nbsp;568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564024 |
| &nbsp;&nbsp;&nbsp;&nbsp;Term Loan, 1 Month SOFR + 2.364%^ | &nbsp;&nbsp;6.691(c) | &nbsp;&nbsp;04/23/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62128 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626152 |
| **Telecommunications 0.5%** | **Telecommunications 0.5%** | **Telecommunications 0.5%** | **Telecommunications 0.5%** | **Telecommunications 0.5%** | **Telecommunications 0.5%** |
| Digicel International Finance Ltd. (Jamaica),<br> Initial Term Loan, 3 Month SOFR + 7.500% | 11.780(c) | &nbsp;&nbsp;05/25/27 |  | 1678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666559 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** | **Floating Rate and Other Loans (Continued)** |
| **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** | **Telecommunications (cont'd.)** |
| Level 3 Financing, Inc.,<br> Term B-3 Loan, 1 Month SOFR + 4.250% | &nbsp;&nbsp;8.577 %(c) | &nbsp;&nbsp;03/27/32 |  | &nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp; $829331 |
| Zegona Holdco Ltd. (United Kingdom),<br> Facility B Loan, 1 Month EURIBOR + 3.000% | &nbsp;&nbsp;5.511(c) | &nbsp;&nbsp;07/17/29 | &nbsp;&nbsp;EUR | 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2841464 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5337354 |
| **Total Floating Rate and Other Loans<br> (cost $12,980,911)** | **Total Floating Rate and Other Loans<br> (cost $12,980,911)** | **Total Floating Rate and Other Loans<br> (cost $12,980,911)** | **Total Floating Rate and Other Loans<br> (cost $12,980,911)** | **Total Floating Rate and Other Loans<br> (cost $12,980,911)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13341582 |
| **Municipal Bond 0.1%** | **Municipal Bond 0.1%** | **Municipal Bond 0.1%** | **Municipal Bond 0.1%** | **Municipal Bond 0.1%** | **Municipal Bond 0.1%** |
| **Illinois** | **Illinois** | **Illinois** | **Illinois** | **Illinois** | **Illinois** |
| State of Illinois,<br> General Obligation Unlimited, Taxable<br> (cost $1,199,389) | &nbsp;&nbsp;5.100 | &nbsp;&nbsp;06/01/33 |  | 1139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130462 |
| **Residential Mortgage-Backed Securities 4.1%** | **Residential Mortgage-Backed Securities 4.1%** | **Residential Mortgage-Backed Securities 4.1%** | **Residential Mortgage-Backed Securities 4.1%** | **Residential Mortgage-Backed Securities 4.1%** | **Residential Mortgage-Backed Securities 4.1%** |
| Bayview Financing Trust,<br> Series 2023-01F, Class A, 144A, 30 Day Average SOFR + 4.000% (Cap N/A, Floor 4.000%)^ | &nbsp;&nbsp;8.314(c) | &nbsp;&nbsp;07/01/26 |  | &nbsp;&nbsp;&nbsp;719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719707 |
| Bellemeade Re Ltd., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-03A, Class M1B, 144A, 30 Day Average SOFR + 1.400% (Cap N/A, Floor 1.400%) | &nbsp;&nbsp;5.722(c) | &nbsp;&nbsp;09/25/31 |  | &nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29640 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-01, Class M1B, 144A, 30 Day Average SOFR + 3.200% (Cap N/A, Floor 3.150%) | &nbsp;&nbsp;7.522(c) | &nbsp;&nbsp;08/25/34 |  | 1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769817 |
| Connecticut Avenue Securities Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-R01, Class 1B1, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.422(c) | &nbsp;&nbsp;10/25/41 |  | 1220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248219 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R03, Class 1B1, 144A, 30 Day Average SOFR + 6.250% (Cap N/A, Floor 0.000%) | 10.572(c) | &nbsp;&nbsp;03/25/42 |  | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R04, Class 1M2, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.422(c) | &nbsp;&nbsp;03/25/42 |  | 1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031434 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** |
| Connecticut Avenue Securities Trust, (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R07, Class 1B1, 144A, 30 Day Average SOFR + 6.800% (Cap N/A, Floor 0.000%) | 11.121 %(c) | &nbsp;&nbsp;06/25/42 |  | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp; $550252 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R08, Class 1B1, 144A, 30 Day Average SOFR + 5.600% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;9.922(c) | &nbsp;&nbsp;07/25/42 |  | &nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538704 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-R08, Class 1M2, 144A, 30 Day Average SOFR + 3.600% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.922(c) | &nbsp;&nbsp;07/25/42 |  | &nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662387 |
| Fannie Mae Interest Strips,<br> Series 422, Class C7, IO | &nbsp;&nbsp;3.500 | &nbsp;&nbsp;11/25/35 |  | 2326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256072 |
| Fannie Mae REMIC,<br> Series 2018-80, Class GC | &nbsp;&nbsp;3.500 | &nbsp;&nbsp;10/25/48 |  | 1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254591 |
| FHLMC Structured Agency Credit Risk REMIC Trust, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2020-DNA06, Class B1, 144A, 30 Day Average SOFR + 3.000% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.322(c) | &nbsp;&nbsp;12/25/50 |  | 3240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3465780 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2021-DNA07, Class M2, 144A, 30 Day Average SOFR + 1.800% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;6.122(c) | &nbsp;&nbsp;11/25/41 |  | &nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312422 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2022-DNA04, Class M1B, 144A, 30 Day Average SOFR + 3.350% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;7.672(c) | &nbsp;&nbsp;05/25/42 |  | &nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727528 |
| Government National Mortgage Assoc., |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-69, Class B | &nbsp;&nbsp;3.000 | &nbsp;&nbsp;05/20/46 |  | 2748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2423414 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-137, Class IO, IO | &nbsp;&nbsp;3.000 | &nbsp;&nbsp;11/20/49 |  | 3716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630188 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2019-159, Class IJ, IO | &nbsp;&nbsp;3.500 | &nbsp;&nbsp;12/20/49 |  | &nbsp;&nbsp;&nbsp;635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105736 |
| LHOME Mortgage Trust,<br> Series 2024-RTL04, Class A1, 144A | &nbsp;&nbsp;5.921(cc) | &nbsp;&nbsp;07/25/39 |  | 3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3103639 |
| Lincoln Senior Participation Trust,<br> Series 2024-01, Class A1X, 144A, 1 Month SOFR + 3.000%^ | &nbsp;&nbsp;7.070(c) | &nbsp;&nbsp;08/04/25 |  | 2373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2373000 |
| Lugo Funding DAC (Spain),<br> Series 2024-01A, Class C, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 0.000%) | &nbsp;&nbsp;4.049(c) | &nbsp;&nbsp;05/26/66 | &nbsp;&nbsp;EUR | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316113 |
| New Residential Mortgage Loan Trust,<br> Series 2018-04A, Class A1S, 144A, 1 Month SOFR + 0.864% (Cap N/A, Floor 0.750%) | &nbsp;&nbsp;5.189(c) | &nbsp;&nbsp;01/25/48 |  | &nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65625 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** | **Residential Mortgage-Backed Securities (Continued)** |
| Oaktown Re VII Ltd.,<br> Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 2.900%) | 7.222 %(c) | &nbsp;&nbsp;04/25/34 |  | 3224 | &nbsp;&nbsp; $3255076 |
| PMT Credit Risk Transfer Trust,<br> Series 2024-03R, Class A, 144A, 30 Day Average SOFR + 3.100% (Cap N/A, Floor 0.000%) | 7.414(c) | &nbsp;&nbsp;09/27/28 |  | 3865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3850428 |
| PRET LLC,<br> Series 2025-NPL05, Class A1, 144A | 6.244(cc) | &nbsp;&nbsp;05/25/55 |  | 4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3998794 |
| PRPM LLC, |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2024-05, Class A1, 144A | 5.689(cc) | &nbsp;&nbsp;09/25/29 |  | 1853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1849394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2025-02, Class A1, 144A | 6.469(cc) | &nbsp;&nbsp;05/25/30 |  | 1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197551 |
| Radnor Re Ltd.,<br> Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 3.700% (Cap N/A, Floor 3.700%) | 8.022(c) | &nbsp;&nbsp;11/25/31 |  | 2094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2127458 |
| RCO Mortgage LLC,<br> Series 2025-03, Class A1, 144A | 6.435(cc) | &nbsp;&nbsp;05/25/30 |  | 2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397038 |
| TFS (Spain),<br> Series 2018-03^ | 0.000(s) | &nbsp;&nbsp;04/16/40 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;—(r) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Towd Point Mortgage Trust,<br> Series 2025-CES01, Class M2B, 144A^ | 6.872(cc) | &nbsp;&nbsp;02/25/55 |  | 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2199976 |
| VCAT LLC,<br> Series 2025-NPL03, Class A1, 144A | 5.889(cc) | &nbsp;&nbsp;02/25/55 |  | 1470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1463713 |
| **Total Residential Mortgage-Backed Securities<br> (cost $46,068,677)** | **Total Residential Mortgage-Backed Securities<br> (cost $46,068,677)** | **Total Residential Mortgage-Backed Securities<br> (cost $46,068,677)** | **Total Residential Mortgage-Backed Securities<br> (cost $46,068,677)** | **Total Residential Mortgage-Backed Securities<br> (cost $46,068,677)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46005140 |
| **Sovereign Bonds 3.4%** | **Sovereign Bonds 3.4%** | **Sovereign Bonds 3.4%** | **Sovereign Bonds 3.4%** | **Sovereign Bonds 3.4%** | **Sovereign Bonds 3.4%** |
| Angolan Government International Bond (Angola),<br> Sr. Unsec'd. Notes | 9.500 | &nbsp;&nbsp;11/12/25 |  | 2840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2837337 |
| Brazil Minas SPE via State of Minas Gerais (Brazil),<br> Gov't. Gtd. Notes | 5.333 | &nbsp;&nbsp;02/15/28 |  | &nbsp;&nbsp;&nbsp;909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900110 |
| Colombia Government International Bond<br> (Colombia), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 7.375 | &nbsp;&nbsp;04/25/30 |  | 1782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835282 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 7.500 | &nbsp;&nbsp;02/02/34 |  | 1410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398720 |
| Dominican Republic International Bond (Dominican<br> Republic), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.500 | &nbsp;&nbsp;01/30/30 |  | &nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183300 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.500 | &nbsp;&nbsp;02/22/29 |  | &nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654050 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.500 | &nbsp;&nbsp;02/22/29 |  | 1635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1612928 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** | **Sovereign Bonds (Continued)** |
| Dominican Republic International Bond (Dominican Republic), (cont'd.) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 5.950% | &nbsp;&nbsp;01/25/27 |  | &nbsp;&nbsp;1740 | &nbsp;&nbsp; $1749570 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.600 | &nbsp;&nbsp;06/01/36 |  | &nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791000 |
| Egypt Government International Bond (Egypt),<br> Sr. Unsec'd. Notes, EMTN | 3.875 | &nbsp;&nbsp;02/16/26 |  | &nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2751868 |
| Ivory Coast Government International Bond (Ivory<br> Coast), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 4.875 | &nbsp;&nbsp;01/30/32 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171470 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.250 | &nbsp;&nbsp;03/22/30 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1803471 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 5.875 | &nbsp;&nbsp;10/17/31 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490296 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 7.625 | &nbsp;&nbsp;01/30/33 |  | &nbsp;&nbsp;1865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797468 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 8.075 | &nbsp;&nbsp;04/01/36 |  | &nbsp;&nbsp;3850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3628837 |
| Republic of Italy Government International Bond (Italy),<br> Sr. Unsec'd. Notes, Series 30Y, MTN | 5.375 | &nbsp;&nbsp;06/15/33 |  | &nbsp;&nbsp;1907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1954442 |
| Serbia International Bond (Serbia), |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 2.125 | &nbsp;&nbsp;12/01/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422402 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 3.125 | &nbsp;&nbsp;05/15/27 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;3107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3492565 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes | 6.250 | &nbsp;&nbsp;05/26/28 |  | &nbsp;&nbsp;1119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 1.500 | &nbsp;&nbsp;06/26/29 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;2175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2217482 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 1.650 | &nbsp;&nbsp;03/03/33 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913810 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sr. Unsec'd. Notes, 144A | 6.250 | &nbsp;&nbsp;05/26/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435625 |
| **Total Sovereign Bonds<br> (cost $38,337,149)** | **Total Sovereign Bonds<br> (cost $38,337,149)** | **Total Sovereign Bonds<br> (cost $38,337,149)** | **Total Sovereign Bonds<br> (cost $38,337,149)** | **Total Sovereign Bonds<br> (cost $38,337,149)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38189008 |
| **U.S. Government Agency Obligations 24.0%** | **U.S. Government Agency Obligations 24.0%** | **U.S. Government Agency Obligations 24.0%** | **U.S. Government Agency Obligations 24.0%** | **U.S. Government Agency Obligations 24.0%** | **U.S. Government Agency Obligations 24.0%** |
| Federal Home Loan Mortgage Corp. | 2.000 | &nbsp;&nbsp;11/01/50 |  | &nbsp;&nbsp;1337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048535 |
| Federal Home Loan Mortgage Corp. | 2.000 | &nbsp;&nbsp;01/01/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409988 |
| Federal Home Loan Mortgage Corp. | 2.000 | &nbsp;&nbsp;04/01/51 |  | &nbsp;&nbsp;2829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2211130 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;08/01/50 |  | &nbsp;&nbsp;5513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4541903 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;08/01/50 |  | &nbsp;&nbsp;9102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7501365 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;09/01/50 |  | 11417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9408988 |
| Federal Home Loan Mortgage Corp.(k) | 2.500 | &nbsp;&nbsp;10/01/50 |  | 11885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9902086 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;03/01/51 |  | &nbsp;&nbsp;1744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1429831 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;07/01/51 |  | &nbsp;&nbsp;1386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136294 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;07/01/51 |  | &nbsp;&nbsp;1903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560264 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;08/01/51 |  | &nbsp;&nbsp;2517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065993 |
| Federal Home Loan Mortgage Corp. | 2.500 | &nbsp;&nbsp;11/01/51 |  | &nbsp;&nbsp;7853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6418792 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;11/01/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301503 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;02/01/52 |  | &nbsp;&nbsp;3505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2988014 |
| Federal Home Loan Mortgage Corp. | 3.000 | &nbsp;&nbsp;04/01/52 |  | &nbsp;&nbsp;2113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800790 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** |
| Federal Home Loan Mortgage Corp. | 3.500% | &nbsp;&nbsp;03/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp; $319259 |
| Federal Home Loan Mortgage Corp. | 3.500 | &nbsp;&nbsp;04/01/52 | &nbsp;&nbsp;1404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245617 |
| Federal Home Loan Mortgage Corp. | 3.500 | &nbsp;&nbsp;05/01/52 | &nbsp;&nbsp;7768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6900191 |
| Federal Home Loan Mortgage Corp. | 4.000 | &nbsp;&nbsp;05/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909259 |
| Federal Home Loan Mortgage Corp. | 4.000 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;1937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1778331 |
| Federal Home Loan Mortgage Corp. | 4.500 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;2191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070554 |
| Federal Home Loan Mortgage Corp. | 4.500 | &nbsp;&nbsp;09/01/52 | &nbsp;&nbsp;1601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513070 |
| Federal Home Loan Mortgage Corp. | 5.000 | &nbsp;&nbsp;12/01/43 | &nbsp;&nbsp;1457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458071 |
| Federal Home Loan Mortgage Corp. | 5.000 | &nbsp;&nbsp;08/01/50 | &nbsp;&nbsp;2056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022797 |
| Federal Home Loan Mortgage Corp. | 5.500 | &nbsp;&nbsp;11/01/52 | &nbsp;&nbsp;1749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1737200 |
| Federal National Mortgage Assoc. | 1.500 | &nbsp;&nbsp;12/01/50 | &nbsp;&nbsp;2786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2055878 |
| Federal National Mortgage Assoc. | 1.500 | &nbsp;&nbsp;01/01/51 | &nbsp;&nbsp;2471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824604 |
| Federal National Mortgage Assoc. | 1.500 | &nbsp;&nbsp;03/01/51 | &nbsp;&nbsp;2686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1981314 |
| Federal National Mortgage Assoc. | 1.500 | &nbsp;&nbsp;07/01/51 | &nbsp;&nbsp;3384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495872 |
| Federal National Mortgage Assoc. | 2.000 | &nbsp;&nbsp;TBA(tt) | &nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942054 |
| Federal National Mortgage Assoc. | 2.000 | &nbsp;&nbsp;TBA | 13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10104266 |
| Federal National Mortgage Assoc. | 2.000 | &nbsp;&nbsp;01/01/51 | &nbsp;&nbsp;3934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3084830 |
| Federal National Mortgage Assoc. | 2.000 | &nbsp;&nbsp;11/01/51 | &nbsp;&nbsp;2765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2155187 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;TBA | &nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2443790 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;06/01/50 | &nbsp;&nbsp;2622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2164930 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;02/01/51 | &nbsp;&nbsp;1684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1388338 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;03/01/51 | &nbsp;&nbsp;2734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2242618 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;07/01/51 | &nbsp;&nbsp;1583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1297209 |
| Federal National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;08/01/51 | 10924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8973928 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;10/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816429 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;11/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776596 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;12/01/51 | 10013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8575598 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;02/01/52 | &nbsp;&nbsp;3816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3253352 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;02/01/52 | &nbsp;&nbsp;5135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4409401 |
| Federal National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;04/01/52 | 12989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11070632 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;07/01/47 | &nbsp;&nbsp;2115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955869 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;07/01/51 | &nbsp;&nbsp;&nbsp;&nbsp;953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851160 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;04/01/52 | &nbsp;&nbsp;4333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3848457 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;05/01/52 | &nbsp;&nbsp;5526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4908805 |
| Federal National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1017146 |
| Federal National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;05/01/52 | 12933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11875548 |
| Federal National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;6624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6082629 |
| Federal National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;12/01/50 | &nbsp;&nbsp;3317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3232512 |
| Federal National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;06/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903515 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;TBA | &nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9194634 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;11/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526557 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;08/01/50 | &nbsp;&nbsp;1857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1828267 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** | **U.S. Government Agency Obligations (Continued)** |
| Federal National Mortgage Assoc. | 5.000% | &nbsp;&nbsp;10/01/50 | &nbsp;&nbsp;1709 | &nbsp;&nbsp; $1682215 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;07/01/52 | &nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528803 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;08/01/52 | &nbsp;&nbsp;1076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045062 |
| Federal National Mortgage Assoc. | 5.000 | &nbsp;&nbsp;09/01/52 | &nbsp;&nbsp;1896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1842065 |
| Federal National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;TBA | &nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956052 |
| Federal National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;TBA | 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13858761 |
| Federal National Mortgage Assoc. | 5.500 | &nbsp;&nbsp;11/01/52 | &nbsp;&nbsp;4745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4725156 |
| Federal National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;TBA | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504256 |
| Federal National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;11/01/52 | &nbsp;&nbsp;1237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252800 |
| Federal National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;12/01/52 | &nbsp;&nbsp;2469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2504925 |
| Federal National Mortgage Assoc. | 6.500 | &nbsp;&nbsp;01/01/53 | &nbsp;&nbsp;&nbsp;&nbsp;906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932116 |
| Government National Mortgage Assoc. | 2.000 | &nbsp;&nbsp;10/20/50 | &nbsp;&nbsp;5169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4153820 |
| Government National Mortgage Assoc. | 2.000 | &nbsp;&nbsp;12/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550804 |
| Government National Mortgage Assoc. | 2.000 | &nbsp;&nbsp;01/20/51 | &nbsp;&nbsp;1880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510414 |
| Government National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;08/20/50 | &nbsp;&nbsp;&nbsp;&nbsp;923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774527 |
| Government National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;09/20/50 | &nbsp;&nbsp;1611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351650 |
| Government National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;03/20/51 | &nbsp;&nbsp;2361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1979215 |
| Government National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;08/20/51 | &nbsp;&nbsp;1668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398203 |
| Government National Mortgage Assoc. | 2.500 | &nbsp;&nbsp;09/20/51 | &nbsp;&nbsp;2339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1960092 |
| Government National Mortgage Assoc. | 3.000 | &nbsp;&nbsp;09/20/51 | &nbsp;&nbsp;5132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4474156 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;11/20/47 | &nbsp;&nbsp;&nbsp;&nbsp;695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626954 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;11/20/48 | &nbsp;&nbsp;&nbsp;&nbsp;830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746965 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;12/20/51 | &nbsp;&nbsp;5144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4598901 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;01/20/52 | &nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2857911 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;03/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220469 |
| Government National Mortgage Assoc. | 3.500 | &nbsp;&nbsp;04/20/52 | &nbsp;&nbsp;1540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373845 |
| Government National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;06/20/51 | &nbsp;&nbsp;&nbsp;&nbsp;638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589875 |
| Government National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;01/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611050 |
| Government National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;04/20/52 | &nbsp;&nbsp;1511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1389277 |
| Government National Mortgage Assoc. | 4.000 | &nbsp;&nbsp;08/20/52 | &nbsp;&nbsp;2498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2297998 |
| Government National Mortgage Assoc. | 4.500 | &nbsp;&nbsp;08/20/52 | &nbsp;&nbsp;7088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6729722 |
| Government National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;09/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253757 |
| Government National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;10/20/52 | &nbsp;&nbsp;&nbsp;&nbsp;734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747290 |
| Government National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;02/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780480 |
| Government National Mortgage Assoc. | 6.000 | &nbsp;&nbsp;06/20/53 | &nbsp;&nbsp;&nbsp;&nbsp;988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003602 |
| Government National Mortgage Assoc. | 6.500 | &nbsp;&nbsp;07/20/54 | &nbsp;&nbsp;1202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1228684 |
| **Total U.S. Government Agency Obligations<br> (cost $275,253,662)** | **Total U.S. Government Agency Obligations<br> (cost $275,253,662)** | **Total U.S. Government Agency Obligations<br> (cost $275,253,662)** | **Total U.S. Government Agency Obligations<br> (cost $275,253,662)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269003622 |
| **U.S. Treasury Obligations 9.6%** | **U.S. Treasury Obligations 9.6%** | **U.S. Treasury Obligations 9.6%** | **U.S. Treasury Obligations 9.6%** | **U.S. Treasury Obligations 9.6%** |
| U.S. Treasury Bonds(h) | 2.375 | &nbsp;&nbsp;11/15/49 | &nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6024000 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Interest<br> Rate** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Principal<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| **U.S. Treasury Obligations (Continued)** | **U.S. Treasury Obligations (Continued)** | **U.S. Treasury Obligations (Continued)** | **U.S. Treasury Obligations (Continued)** | **U.S. Treasury Obligations (Continued)** |
| U.S. Treasury Bonds(h) | 3.125% | &nbsp;&nbsp;02/15/43 | &nbsp;&nbsp;4825 | &nbsp;&nbsp; $3800441 |
| U.S. Treasury Bonds(k) | 3.375 | &nbsp;&nbsp;11/15/48 | &nbsp;&nbsp;3825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2957801 |
| U.S. Treasury Bonds | 4.500 | &nbsp;&nbsp;11/15/54 | &nbsp;&nbsp;2895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703206 |
| U.S. Treasury Bonds(h) | 4.750 | &nbsp;&nbsp;11/15/43 | &nbsp;&nbsp;2970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2912456 |
| U.S. Treasury Notes(k) | 1.250 | &nbsp;&nbsp;11/30/26 | 32620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31325394 |
| U.S. Treasury Notes(h) | 3.875 | &nbsp;&nbsp;08/15/33 | 34500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33567422 |
| U.S. Treasury Notes | 4.125 | &nbsp;&nbsp;10/31/31 | &nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225096 |
| U.S. Treasury Notes | 4.500 | &nbsp;&nbsp;12/31/31 | &nbsp;&nbsp;7385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7538470 |
| U.S. Treasury Strips Coupon | 1.450(s) | &nbsp;&nbsp;08/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126507 |
| U.S. Treasury Strips Coupon(k) | 1.912(s) | &nbsp;&nbsp;08/15/40 | 13050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6063164 |
| U.S. Treasury Strips Coupon | 1.960(s) | &nbsp;&nbsp;05/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350627 |
| U.S. Treasury Strips Coupon(k) | 2.056(s) | &nbsp;&nbsp;11/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57208 |
| U.S. Treasury Strips Coupon(k) | 2.208(s) | &nbsp;&nbsp;05/15/39 | &nbsp;&nbsp;&nbsp;&nbsp;830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416512 |
| U.S. Treasury Strips Coupon(k) | 2.340(s) | &nbsp;&nbsp;02/15/43 | &nbsp;&nbsp;5160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077034 |
| U.S. Treasury Strips Coupon(k) | 2.341(s) | &nbsp;&nbsp;02/15/40 | &nbsp;&nbsp;5135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2466019 |
| U.S. Treasury Strips Coupon(k) | 2.423(s) | &nbsp;&nbsp;11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265884 |
| U.S. Treasury Strips Coupon | 3.081(s) | &nbsp;&nbsp;08/15/41 | &nbsp;&nbsp;1295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570414 |
| U.S. Treasury Strips Coupon | 4.407(s) | &nbsp;&nbsp;11/15/41 | &nbsp;&nbsp;3285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1423312 |
| U.S. Treasury Strips Coupon | 4.568(s) | &nbsp;&nbsp;11/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130743 |
| U.S. Treasury Strips Coupon | 4.608(s) | &nbsp;&nbsp;11/15/48 | &nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50597 |
| U.S. Treasury Strips Coupon | 4.685(s) | &nbsp;&nbsp;08/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77073 |
| U.S. Treasury Strips Coupon | 4.727(s) | &nbsp;&nbsp;05/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69452 |
| U.S. Treasury Strips Coupon | 4.809(s) | &nbsp;&nbsp;02/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31987 |
| U.S. Treasury Strips Coupon | 4.924(s) | &nbsp;&nbsp;02/15/49 | &nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141054 |
| U.S. Treasury Strips Coupon | 4.928(s) | &nbsp;&nbsp;11/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53808 |
| U.S. Treasury Strips Coupon | 5.038(s) | &nbsp;&nbsp;11/15/43 | &nbsp;&nbsp;2245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866499 |
| U.S. Treasury Strips Principal | 2.060(s) | &nbsp;&nbsp;11/15/44 | &nbsp;&nbsp;1145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429291 |
| **Total U.S. Treasury Obligations<br> (cost $119,706,271)** | **Total U.S. Treasury Obligations<br> (cost $119,706,271)** | **Total U.S. Treasury Obligations<br> (cost $119,706,271)** | **Total U.S. Treasury Obligations<br> (cost $119,706,271)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107721471 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Shares** |  |  |
| **Affiliated Exchange-Traded Fund 0.2%** | **Affiliated Exchange-Traded Fund 0.2%** | **Affiliated Exchange-Traded Fund 0.2%** | **Affiliated Exchange-Traded Fund 0.2%** | **Affiliated Exchange-Traded Fund 0.2%** |
| PGIM Floating Rate Income ETF<br> (cost $2,540,059)(wa) | PGIM Floating Rate Income ETF<br> (cost $2,540,059)(wa) |  | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2496500 |
| **Common Stocks 0.5%** | **Common Stocks 0.5%** | **Common Stocks 0.5%** | **Common Stocks 0.5%** | **Common Stocks 0.5%** |
| **Chemicals 0.1%** | **Chemicals 0.1%** | **Chemicals 0.1%** | **Chemicals 0.1%** | **Chemicals 0.1%** |
| TPC Group, Inc.\*^ |  | 70274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405480 |  |

---

------

### PGIM Strategic Bond Fund

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

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (Continued)** | **Common Stocks (Continued)** | **Common Stocks (Continued)** |
| **Electric Utilities 0.0%** | **Electric Utilities 0.0%** | **Electric Utilities 0.0%** |
| GenOn Energy Holdings, Inc. (Class A Stock)\*^(x) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677 | &nbsp;&nbsp; $20310 |
| **Gas Utilities 0.1%** | **Gas Utilities 0.1%** | **Gas Utilities 0.1%** |
| Ferrellgas Partners LP (Class B Stock)\*(x) | &nbsp;&nbsp;&nbsp;&nbsp;4838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628472 |
| **Hotels, Restaurants & Leisure 0.0%** | **Hotels, Restaurants & Leisure 0.0%** | **Hotels, Restaurants & Leisure 0.0%** |
| Codere Group Topco SA (Spain) (Class A1 Stock)\*^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18054 |
| Codere Group Topco SA (Spain) (Class A2 Stock)\*^ | &nbsp;&nbsp;&nbsp;&nbsp;1119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25411 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43465 |
| **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** |
| Diamond Sports Group LLC\* | &nbsp;&nbsp;37739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536196 |
| **Oil, Gas & Consumable Fuels 0.1%** | **Oil, Gas & Consumable Fuels 0.1%** | **Oil, Gas & Consumable Fuels 0.1%** |
| Expand Energy Corp. | &nbsp;&nbsp;10284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194281 |
| **Wireless Telecommunication Services 0.2%** | **Wireless Telecommunication Services 0.2%** | **Wireless Telecommunication Services 0.2%** |
| Digicel International Finance Ltd. (Jamaica)\* | 116510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815570 |
| Intelsat Emergence SA (Luxembourg)\* | &nbsp;&nbsp;34637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434197 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249767 |
| **Total Common Stocks<br> (cost $1,934,006)** | **Total Common Stocks<br> (cost $1,934,006)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6077971 |
| **Preferred Stocks 0.4%** | **Preferred Stocks 0.4%** | **Preferred Stocks 0.4%** |
| **Electronic Equipment, Instruments & Components 0.4%** | **Electronic Equipment, Instruments & Components 0.4%** | **Electronic Equipment, Instruments & Components 0.4%** |
| Ferrellgas Escrow LLC, 8.956%, Maturing 03/30/31^(x) | &nbsp;&nbsp;&nbsp;&nbsp;3925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3925000 |
| **Wireless Telecommunication Services 0.0%** | **Wireless Telecommunication Services 0.0%** | **Wireless Telecommunication Services 0.0%** |
| Digicel International Finance Ltd. (Jamaica)\*^ | &nbsp;&nbsp;&nbsp;&nbsp;7553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87986 |
| **Total Preferred Stocks<br> (cost $3,833,780)** | **Total Preferred Stocks<br> (cost $3,833,780)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4012986 |

---

------

### PGIM Strategic Bond Fund

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

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Units** | &nbsp;&nbsp;**Value** |
| **Warrants\* 0.0%** | **Warrants\* 0.0%** | **Warrants\* 0.0%** |
| **Hotels, Restaurants & Leisure 0.0%** | **Hotels, Restaurants & Leisure 0.0%** | **Hotels, Restaurants & Leisure 0.0%** |
| Codere Group Topco SA (Spain), expiring 09/30/34^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15 | &nbsp;&nbsp; $137 |
| **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** | **Interactive Media & Services 0.0%** |
| Diamond Sports Group LLC, expiring 06/30/26 | 70583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18542 |
| **Total Warrants<br> (cost $582)** | **Total Warrants<br> (cost $582)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18679 |
| **Total Long-Term Investments<br> (cost $1,184,526,820)** | **Total Long-Term Investments<br> (cost $1,184,526,820)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127210946 |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Shares** |  |
| **Short-Term Investments 1.3%** | **Short-Term Investments 1.3%** | **Short-Term Investments 1.3%** |
| **Affiliated Mutual Funds 1.3%** |  |  |
| PGIM Core Government Money Market Fund (7-day effective yield 4.462%)(wa) | &nbsp;&nbsp;&nbsp;3399729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3399729 |
| PGIM Institutional Money Market Fund (7-day effective yield 4.496%)<br> (cost $11,041,910; includes $10,971,079 of cash collateral for securities on loan)(b)(wa) | &nbsp;&nbsp;11049951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11041111 |
| **Total Affiliated Mutual Funds<br> (cost $14,441,639)** | **Total Affiliated Mutual Funds<br> (cost $14,441,639)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14440840 |
| **Options Purchased\*~ 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(cost $318,064) | &nbsp;&nbsp;&nbsp;&nbsp;(cost $318,064) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75013 |
| **Total Short-Term Investments<br> (cost $14,759,703)** | **Total Short-Term Investments<br> (cost $14,759,703)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14515853 |
| **TOTAL INVESTMENTS, BEFORE OPTIONS WRITTEN 101.8%<br> (cost $1,199,286,523)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141726799 |
| **Options Written\*~ (0.1)%** | **Options Written\*~ (0.1)%** | **Options Written\*~ (0.1)%** |
| &nbsp;&nbsp;&nbsp;&nbsp;(premiums received $1,398,905) | &nbsp;&nbsp;&nbsp;&nbsp;(premiums received $1,398,905) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1202559) |
| **TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 101.7%<br> (cost $1,197,887,618)** | **TOTAL INVESTMENTS, NET OF OPTIONS WRITTEN 101.7%<br> (cost $1,197,887,618)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140524240 |
| Liabilities in excess of other assets(z) (1.7)% | Liabilities in excess of other assets(z) (1.7)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19061646) |
| **Net Assets 100.0%** | **Net Assets 100.0%** | $1121462594 |

---

------

### PGIM Strategic Bond Fund

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

------

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

---

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

---

---

| |
|:---|
| 144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. |
| A—Annual payment frequency for swaps |
| BARC—Barclays Bank PLC |
| BMO—BMO Capital Markets |
| BNP—BNP Paribas S.A. |
| BNY—Bank of New York Mellon |
| BOA—Bank of America, N.A. |
| CBOE—Chicago Board Options Exchange |
| CDX—Credit Derivative Index |
| CITI—Citibank, N.A. |
| CLO—Collateralized Loan Obligation |
| CME—Chicago Mercantile Exchange |
| DAC—Designated Activity Company |
| DB—Deutsche Bank AG |
| EMTN—Euro Medium Term Note |
| ETF—Exchange-Traded Fund |
| EURIBOR—Euro Interbank Offered Rate |
| FHLMC—Federal Home Loan Mortgage Corporation |
| GMTN—Global Medium Term Note |
| GSI—Goldman Sachs International |
| HSBC—HSBC Bank PLC |
| iBoxx—Bond Market Indices |
| IO—Interest Only (Principal amount represents notional) |

---

------

### PGIM Strategic Bond Fund

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

---

| |
|:---|
| JPM—JPMorgan Chase Bank N.A. |
| LIBOR—London Interbank Offered Rate |
| LP—Limited Partnership |
| M—Monthly payment frequency for swaps |
| MSI—Morgan Stanley & Co International PLC |
| MTN—Medium Term Note |
| N/A—Not Applicable |
| OJSC—Open Joint-Stock Company |
| OTC—Over-the-counter |
| PIK—Payment-in-Kind |
| Q—Quarterly payment frequency for swaps |
| REITs—Real Estate Investment Trust |
| REMIC—Real Estate Mortgage Investment Conduit |
| SCB—Standard Chartered Bank |
| SOFR—Secured Overnight Financing Rate |
| SONIA—Sterling Overnight Index Average |
| SSB—State Street Bank & Trust Company |
| T—Swap payment upon termination |
| TBA—To Be Announced |
| TD—The Toronto-Dominion Bank |
| UMBS—Uniform Mortgage-Backed Securities |
| USOIS—United States Overnight Index Swap |

---

---

| | |
|:---|:---|
| \* | Non-income producing security. |
| # | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
| ~ | See tables subsequent to the Schedule of Investments for options detail. Options with maturity dates greater than one year from date of acquisition would be considered long-term investments. |
| ^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $22,089,554 and 2.0% of net assets. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $10,754,823; cash collateral of $10,971,079 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Fund may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day. |
| (b) | Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment. |
| (c) | Variable rate instrument. The interest rate shown reflects the rate in effect at May 31, 2025. |
| (cc) | Variable rate instrument. The rate shown is based on the latest available information as of May 31, 2025. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
| (d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
| (ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
| (h) | Represents security, or a portion thereof, segregated as collateral for OTC derivatives. |
| (k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
| (oo) | Perpetual security. Maturity date represents next call date. |
| (p) | Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end. |
| (r) | Principal or notional amount is less than $500 par. |
| (s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |

---

------

### PGIM Strategic Bond Fund

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

(tt) All or partial principal amount represents "TBA" mortgage dollar rolls. The aggregate mortgage dollar roll principal amount of $2,500,000 is 0.2% of net assets.

(wa) Represents investments in Funds affiliated with the Manager.

(x) The following represents restricted securities that are acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is
considered restricted as to disposition under federal securities law.

(x) Restricted Securities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer Description** | **Acquisition<br> Date** | **Original<br> Cost** | **Market<br> Value** | **Percentage<br> of<br> Net Assets** |
| 20 Times Square Trust,<br> Series 2018-20TS, Class H, 144A, 3.100%(cc), 05/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;05/09/18 | &nbsp;&nbsp;&nbsp;&nbsp; $88505 | &nbsp;&nbsp;&nbsp;&nbsp; $73500 | 0.0% |
| 20 Times Square Trust,<br> Series 2018-20TS, Class G, 144A, 3.100%(cc), 05/15/35 | 05/09/18-08/26/20 | &nbsp;&nbsp;&nbsp;&nbsp;4424349 | &nbsp;&nbsp;&nbsp;&nbsp;3925000 | 0.4 |
| 20 Times Square Trust,<br> Series 2018-20TS, Class F, 144A, 3.100%(cc), 05/15/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;08/26/20 | &nbsp;&nbsp;&nbsp;&nbsp;4480438 | &nbsp;&nbsp;&nbsp;&nbsp;3920000 | 0.3 |
| Ferrellgas Escrow LLC, 8.956%^, 03/30/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;03/29/21 | &nbsp;&nbsp;&nbsp;&nbsp;3925000 | &nbsp;&nbsp;&nbsp;&nbsp;3925000 | 0.3 |
| Ferrellgas Partners LP (Class B Stock)\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;07/29/20 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628472 | 0.1 |
| Freedom Mortgage Corp., Sr. Unsec'd. Notes, 144A, 12.000%, 10/01/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;09/14/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161099 | 0.0 |
| Freedom Mortgage Holdings LLC, Sr. Unsec'd. Notes, 144A, 8.375%, 04/01/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02/04/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217974 | 0.0 |
| GenOn Energy Holdings, Inc. (Class A Stock)\*^ | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;02/28/19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20310 | 0.0 |
| Greystone Commercial Capital Trust, Sr. Unsec'd. Notes, Series A, 144A, 1 Month LIBOR + 2.270%^, 7.230%(c), 05/31/25(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;05/18/21 | &nbsp;&nbsp;&nbsp;&nbsp;6293306 | &nbsp;&nbsp;&nbsp;&nbsp;5601043 | 0.5 |
| &nbsp;&nbsp;&nbsp;**Total** |  | $20062294 | $18472398 | 1.6% |

---

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Issuer** | **Principal<br> Amount<br> (000)#** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| New Generation Gas Gathering LLC, Sr. Sec'd. Notes, 144A, —%(p), Maturity Date 09/30/29 (cost $73,209)^ | 74 | $73209 | $— | $— |

---

------

### PGIM Strategic Bond Fund

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

#### Unfunded loan commitment outstanding at May 31, 2025 :

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Borrower** | **Principal<br> Amount<br> (000)#** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| Doncasters US Finance LLC, 2025 Delayed Draw Term Loan, —%(p), Maturity Date 04/01/30 (cost $270,000)^ | 270 | $271350 | $1350 | $— |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Forward Commitment Contracts:** |  |  |  |  |  |  |
| **U.S. Government Agency Obligations** | **Interest<br> Rate** | **Maturity<br> Date** | **Settlement<br> Date** | **Principal<br> Amount<br> (000)#** |  | **Value** |
| Federal National Mortgage Assoc. | 4.000% | TBA | 07/14/25 | $(7000) | $(6411115) |  |
| Federal National Mortgage Assoc. | 4.500% | TBA | 07/14/25 | &nbsp;&nbsp;&nbsp;(1000) | &nbsp;&nbsp;&nbsp;&nbsp;(942701) |  |
| Government National Mortgage Assoc. | 4.000% | TBA | 06/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;(500) | &nbsp;&nbsp;&nbsp;&nbsp;(457795) |  |
| **TOTAL FORWARD COMMITMENT CONTRACTS<br> (proceeds receivable $7,784,863)** |  |  |  |  | $(7811611) |  |

---

#### Options Purchased :

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** |
| **Description** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| 3 Month SOFR &nbsp;&nbsp;Call | &nbsp;&nbsp;12/12/25 | &nbsp;&nbsp;$99.75 |  | &nbsp;&nbsp;62 |  | &nbsp;&nbsp;155 | &nbsp;&nbsp; $388 |
| &nbsp;&nbsp;&nbsp;(cost $873) |  |  |  |  |  |  |  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** |  |
| **Description** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| Currency Option EUR vs HUF &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;450.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1484 | &nbsp;&nbsp;&nbsp;&nbsp; $37 |
| Currency Option EUR vs MXN &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122 |
| Currency Option EUR vs PLN &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;06/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.75 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 |
| Currency Option EUR vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 |
| Currency Option EUR vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 |
| Currency Option USD vs BRL &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs BRL &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 |
| Currency Option USD vs CLP &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/30/25 | &nbsp;&nbsp;1150.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 |
| Currency Option USD vs COP &nbsp;&nbsp;Call | HSBC | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;5200.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs COP &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;5200.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs COP &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;5000.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 |
| Currency Option USD vs JPY &nbsp;&nbsp;Call | GSI | &nbsp;&nbsp;06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;165.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Currency Option USD vs KRW &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/04/25 | &nbsp;&nbsp;1400.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp;3740 |
| Currency Option USD vs KRW &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;06/04/25 | &nbsp;&nbsp;1600.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs KRW &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/19/25 | &nbsp;&nbsp;1600.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;3398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** |  |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| Currency Option USD vs KRW | &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;1600.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1688 | &nbsp;&nbsp;&nbsp;&nbsp; $10 |
| Currency Option USD vs MXN | &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44 |
| Currency Option USD vs TRY | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717 |
| Currency Option USD vs TRY | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1691 | &nbsp;&nbsp;&nbsp;&nbsp;1701 |
| Currency Option USD vs TWD | &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs TWD | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;3392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs TWD | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 |
| Currency Option EUR vs USD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;06/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.00 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;8304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |
| Currency Option EUR vs USD | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;06/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.05 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 |
| Currency Option EUR vs USD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.02 |  | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;1490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | HSBC | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;07/07/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.90 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;5080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83 |
| Currency Option USD vs CNH | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;06/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.50 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;10278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 |
| Currency Option USD vs COP | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;3700.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Currency Option USD vs INR | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;01/08/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;10022 | &nbsp;&nbsp;&nbsp;&nbsp;2129 |
| Currency Option USD vs INR | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;01/08/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;2825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 |
| Currency Option USD vs MXN | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;06/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Currency Option USD vs ZAR | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;06/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.00 |  | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;1692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 |
| **Total OTC Traded (cost $22,818)** | **Total OTC Traded (cost $22,818)** | **Total OTC Traded (cost $22,818)** |  |  |  |  |  |  | &nbsp;&nbsp;$9956 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** |  |
| **Description** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Receive** | &nbsp;&nbsp;**Pay** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| 3-Year Interest Rate Swap, 07/29/28 &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;07/25/25 | &nbsp;&nbsp;2.90% | &nbsp;&nbsp;2.90%(A) | &nbsp;&nbsp;1 Day SOFR(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;5690 | &nbsp;&nbsp; $2717 |
| 5-Year Interest Rate Swap, 06/27/30 &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;1.00%(A) | &nbsp;&nbsp;1 Day SOFR(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;3415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| 5-Year Interest Rate Swap, 06/27/30 &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;3.40% | &nbsp;&nbsp;3.40%(A) | &nbsp;&nbsp;1 Day SOFR(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;3415 | &nbsp;&nbsp;&nbsp;&nbsp;5371 |
| 10-Year Interest Rate Swap, 09/29/35 &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;09/25/25 | &nbsp;&nbsp;0.40% | &nbsp;&nbsp;0.40%(A) | &nbsp;&nbsp;1 Day SOFR(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;1685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** |  |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Receive** | &nbsp;&nbsp;**Pay** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| 10-Year Interest Rate Swap, 09/29/35 | &nbsp;&nbsp;Call | DB | &nbsp;&nbsp;09/25/25 | &nbsp;&nbsp;3.53% | &nbsp;&nbsp;3.53%(A) | &nbsp;&nbsp;1 Day SOFR(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;1685 | &nbsp;&nbsp; $13519 |
| CDX.NA.IG.44.V1, 06/20/30 | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;07/16/25 | &nbsp;&nbsp;0.73% | &nbsp;&nbsp;CDX.NA.IG.44. V1(Q) | &nbsp;&nbsp;1.00%(Q) | &nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;43058 |
| **Total OTC Swaptions (cost $294,373)** | **Total OTC Swaptions (cost $294,373)** | **Total OTC Swaptions (cost $294,373)** | **Total OTC Swaptions (cost $294,373)** | **Total OTC Swaptions (cost $294,373)** | **Total OTC Swaptions (cost $294,373)** | **Total OTC Swaptions (cost $294,373)** |  | $64669 |
| **Total Options Purchased (cost $318,064)** | **Total Options Purchased (cost $318,064)** | **Total Options Purchased (cost $318,064)** | **Total Options Purchased (cost $318,064)** | **Total Options Purchased (cost $318,064)** | **Total Options Purchased (cost $318,064)** | **Total Options Purchased (cost $318,064)** |  | $75013 |

---

#### Options Written :

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** | **Exchange Traded** |  |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** |  | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |  |
| 3 Month SOFR | &nbsp;&nbsp;Call | 12/12/25 | &nbsp;&nbsp;$96.25 |  | &nbsp;&nbsp;62 |  | &nbsp;&nbsp;155 | &nbsp;&nbsp; $(35263) |
| 3 Month SOFR | &nbsp;&nbsp;&nbsp;Put | 12/12/25 | &nbsp;&nbsp;$96.25 |  | &nbsp;&nbsp;62 |  | &nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp;(43788) |
| **Total Exchange Traded (premiums received $97,695)** | **Total Exchange Traded (premiums received $97,695)** |  |  |  |  |  |  | &nbsp;&nbsp;$(79051) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** |
| **Description** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| Currency Option EUR vs HUF &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;404.00 | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1484 | &nbsp;&nbsp; $(12460) |
| Currency Option EUR vs MXN &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22.50 | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9314) |
| Currency Option EUR vs PLN &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;06/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.25 | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1696 | &nbsp;&nbsp;&nbsp;&nbsp;(15145) |
| Currency Option EUR vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46.00 | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1537 | &nbsp;&nbsp;&nbsp;&nbsp;(12055) |
| Currency Option EUR vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46.00 | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1537 | &nbsp;&nbsp;&nbsp;&nbsp;(12055) |
| Currency Option USD vs BRL &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.80 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3756) |
| Currency Option USD vs BRL &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1684 | &nbsp;&nbsp;&nbsp;&nbsp;(38443) |
| Currency Option USD vs CLP &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;950.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1691 | &nbsp;&nbsp;&nbsp;&nbsp;(21912) |
| Currency Option USD vs COP &nbsp;&nbsp;Call | HSBC | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;4350.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(663) |
| Currency Option USD vs COP &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;4350.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(165) |
| Currency Option USD vs COP &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;4200.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;(11403) |
| Currency Option USD vs JPY &nbsp;&nbsp;Call | GSI | &nbsp;&nbsp;06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;146.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9588) |
| Currency Option USD vs KRW &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;06/04/25 | &nbsp;&nbsp;1400.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3740) |
| Currency Option USD vs KRW &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/19/25 | &nbsp;&nbsp;1400.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;3398 | &nbsp;&nbsp;&nbsp;&nbsp;(17253) |
| Currency Option USD vs KRW &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;1400.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1688 | &nbsp;&nbsp;&nbsp;&nbsp;(10385) |
| Currency Option USD vs MXN &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.90 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2838) |
| Currency Option USD vs TRY &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5978) |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** | **OTC Traded** |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Contracts** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| Currency Option USD vs TRY | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1691 | &nbsp;&nbsp; $(16719) |
| Currency Option USD vs TWD | &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.75 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(54) |
| Currency Option USD vs TWD | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.20 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;3392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6458) |
| Currency Option USD vs TWD | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;06/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30.10 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;2545 | &nbsp;&nbsp;&nbsp;&nbsp;(10568) |
| Currency Option EUR vs USD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;06/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12 | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;8304 | &nbsp;&nbsp;&nbsp;&nbsp;(20346) |
| Currency Option EUR vs USD | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;06/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6138) |
| Currency Option EUR vs USD | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.13 | &nbsp;&nbsp;— | &nbsp;&nbsp;EUR | &nbsp;&nbsp;1490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7667) |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3415) |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;06/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3415) |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | HSBC | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.65 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6989) |
| Currency Option USD vs BRL | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;07/07/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;5080 | &nbsp;&nbsp;&nbsp;&nbsp;(239814) |
| Currency Option USD vs COP | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;06/12/25 | &nbsp;&nbsp;4200.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1015 | &nbsp;&nbsp;&nbsp;&nbsp;(16116) |
| Currency Option USD vs INR | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;01/08/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;6427 | &nbsp;&nbsp;&nbsp;&nbsp;(116088) |
| Currency Option USD vs MXN | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;06/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.75 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;&nbsp;&nbsp;845 | &nbsp;&nbsp;&nbsp;&nbsp;(17322) |
| Currency Option USD vs ZAR | &nbsp;&nbsp;&nbsp;Put | JPM | &nbsp;&nbsp;06/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.00 | &nbsp;&nbsp;— |  | &nbsp;&nbsp;1692 | &nbsp;&nbsp;&nbsp;&nbsp;(20574) |
| **Total OTC Traded (premiums received $882,990)** | **Total OTC Traded (premiums received $882,990)** | **Total OTC Traded (premiums received $882,990)** |  |  |  |  |  | &nbsp;&nbsp;$(678836) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Receive** | &nbsp;&nbsp;**Pay** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| 3-Year Interest Rate Swap, 07/29/28 | &nbsp;&nbsp;Call | JPM | &nbsp;&nbsp;07/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;3.05% | &nbsp;&nbsp;1 Day SOFR(A)/ 4.350% | &nbsp;&nbsp;3.05%(A) | &nbsp;&nbsp;&nbsp;&nbsp;5690 | &nbsp;&nbsp;&nbsp;&nbsp; $(4633) |
| 5-Year Interest Rate Swap, 06/27/30 | &nbsp;&nbsp;Call | CITI | &nbsp;&nbsp;06/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;3.15% | &nbsp;&nbsp;1 Day SOFR(A)/ 4.350% | &nbsp;&nbsp;3.15%(A) | &nbsp;&nbsp;&nbsp;&nbsp;6830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2195) |
| 10-Year Interest Rate Swap, 09/29/35 | &nbsp;&nbsp;Call | DB | &nbsp;&nbsp;09/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;3.21% | &nbsp;&nbsp;1 Day SOFR(A)/ 4.350% | &nbsp;&nbsp;3.21%(A) | &nbsp;&nbsp;&nbsp;&nbsp;3370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10629) |
| CDX.NA.IG.44.V1, 06/20/30 | &nbsp;&nbsp;Call | MSI | &nbsp;&nbsp;07/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;0.65% | &nbsp;&nbsp;CDX.NA.IG.44. V1(Q) | &nbsp;&nbsp;1.00%(Q) | &nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(383093) |
| CDX.NA.HY.44.V1, 06/20/30 | &nbsp;&nbsp;&nbsp;Put | BARC | &nbsp;&nbsp;06/18/25 | &nbsp;&nbsp;$96.00 | &nbsp;&nbsp;5.00%(Q) | &nbsp;&nbsp;CDX.NA.HY.44. V1(Q) | &nbsp;&nbsp;&nbsp;&nbsp;5310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2936) |
| CDX.NA.HY.44.V1, 06/20/30 | &nbsp;&nbsp;&nbsp;Put | CITI | &nbsp;&nbsp;06/18/25 | &nbsp;&nbsp;$98.00 | &nbsp;&nbsp;5.00%(Q) | &nbsp;&nbsp;CDX.NA.HY.44. V1(Q) | &nbsp;&nbsp;&nbsp;&nbsp;5660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3576) |
| CDX.NA.HY.44.V1, 06/20/30 | &nbsp;&nbsp;&nbsp;Put | GSI | &nbsp;&nbsp;07/16/25 | &nbsp;&nbsp;$99.00 | &nbsp;&nbsp;5.00%(Q) | &nbsp;&nbsp;CDX.NA.HY.44. V1(Q) | &nbsp;&nbsp;&nbsp;&nbsp;5490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7541) |
| CDX.NA.IG.44.V1, 06/20/30 | &nbsp;&nbsp;&nbsp;Put | GSI | &nbsp;&nbsp;07/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;0.80% | &nbsp;&nbsp;1.00%(Q) | &nbsp;&nbsp;CDX.NA.IG.44. V1(Q) | &nbsp;&nbsp;27970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9128) |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** | **OTC Swaptions** |
| **Description** | &nbsp;&nbsp;**Call/<br> Put** | **Counterparty** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Strike** | &nbsp;&nbsp;**Receive** | &nbsp;&nbsp;**Pay** | &nbsp;&nbsp;**Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;**Value** |
| CDX.NA.IG.44.V1, 06/20/30 | &nbsp;&nbsp;&nbsp;Put | MSI | &nbsp;&nbsp;07/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;0.93% | &nbsp;&nbsp;1.00%(Q) | &nbsp;&nbsp;CDX.NA.IG.44. V1(Q) | &nbsp;&nbsp;94000 | &nbsp;&nbsp;&nbsp;&nbsp; $(20941) |
| **Total OTC Swaptions (premiums received $418,220)** | **Total OTC Swaptions (premiums received $418,220)** | **Total OTC Swaptions (premiums received $418,220)** | **Total OTC Swaptions (premiums received $418,220)** | **Total OTC Swaptions (premiums received $418,220)** | **Total OTC Swaptions (premiums received $418,220)** | **Total OTC Swaptions (premiums received $418,220)** |  | &nbsp;&nbsp;$(444672) |
| **Total Options Written (premiums received $1,398,905)** | **Total Options Written (premiums received $1,398,905)** | **Total Options Written (premiums received $1,398,905)** | **Total Options Written (premiums received $1,398,905)** | **Total Options Written (premiums received $1,398,905)** | **Total Options Written (premiums received $1,398,905)** | **Total Options Written (premiums received $1,398,905)** |  | $(1202559) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** | **Futures contracts outstanding at May 31, 2025:** |
| **Number<br> of<br> Contracts** | **Type** | **Expiration<br> Date** | **Current<br> Notional<br> Amount** | **Value /<br> Unrealized<br> Appreciation<br> (Depreciation)** |
| **Long Positions:** | **Long Positions:** | **Long Positions:** | **Long Positions:** | **Long Positions:** |
| 230 | 3 Month CME SOFR | Jun. 2025 | $55001625 | &nbsp;&nbsp;&nbsp;&nbsp; $(23421) |
| 487 | 2 Year U.S. Treasury Notes | Sep. 2025 | &nbsp;&nbsp;&nbsp;101022063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65605 |
| 1749 | 5 Year U.S. Treasury Notes | Sep. 2025 | &nbsp;&nbsp;&nbsp;189219938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860334 |
| 723 | 10 Year U.S. Treasury Notes | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;80072250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529927 |
| 455 | 10 Year U.S. Ultra Treasury Notes | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;51208830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363520 |
| 592 | 20 Year U.S. Treasury Bonds | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;66766500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392357 |
| 55 | 30 Year UMBS TBA – 5.5% Coupon | Jul. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5435117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22706 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2211028 |
| **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** | **Short Positions:** |
| 116 | 5 Year Euro-Bobl | Jun. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;15692192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30303) |
| 79 | 5 Year Euro-Bobl | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;10596326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13086) |
| 23 | 10 Year Euro-Bund | Jun. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3426595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30010 |
| 21 | 10 Year Euro-Bund | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3124100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6102) |
| 471 | 30 Year U.S. Ultra Treasury Bonds | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;54665438 | &nbsp;&nbsp;&nbsp;&nbsp;(962133) |
| 264 | CBOE iBoxx iShares Investment Grade Corporate Bond Index | Sep. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;36938880 | &nbsp;&nbsp;&nbsp;&nbsp;(256711) |
| 18 | Euro Schatz Index | Jun. 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2193928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5841) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;(1244166) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;$966862 |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase<br> Contracts** | **Counterparty** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value at<br> Settlement<br> Date** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |
| Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, |
| &nbsp;&nbsp;Expiring 06/03/25 | GSI | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54499 | &nbsp;&nbsp;&nbsp; $9497031 | &nbsp;&nbsp;&nbsp; $9519164 | &nbsp;&nbsp;&nbsp;&nbsp; $22133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| &nbsp;&nbsp;Expiring 06/03/25 | MSI | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1831000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4208) |
| &nbsp;&nbsp;Expiring 07/02/25 | GSI | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65389 | &nbsp;&nbsp;&nbsp;&nbsp;11477644 | &nbsp;&nbsp;&nbsp;&nbsp;11347500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(130144) |
| British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, |
| &nbsp;&nbsp;Expiring 07/22/25 | JPM | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1209543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | CLP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | CLP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | DB | CLP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(10445) |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | CLP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, |
| &nbsp;&nbsp;Expiring 06/18/25 | GSI | COP | &nbsp;&nbsp;&nbsp;10481839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2520521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2517051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3470) |
| &nbsp;&nbsp;Expiring 06/18/25 | TD | COP | &nbsp;&nbsp;&nbsp;&nbsp;7482704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1793000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1796855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;Expiring 07/22/25 | BARC | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 07/22/25 | BOA | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2441) |
| &nbsp;&nbsp;Expiring 07/22/25 | CITI | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1711414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 07/22/25 | CITI | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1507) |
| &nbsp;&nbsp;Expiring 07/22/25 | DB | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;854000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1051) |
| &nbsp;&nbsp;Expiring 07/22/25 | MSI | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9508 | &nbsp;&nbsp;&nbsp;&nbsp;10801995 | &nbsp;&nbsp;&nbsp;&nbsp;10833926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 07/22/25 | MSI | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1703963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1711413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, | Hungarian Forint, |
| &nbsp;&nbsp;Expiring 07/22/25 | BARC | HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985677 | &nbsp;&nbsp;&nbsp;&nbsp;11257038 | &nbsp;&nbsp;&nbsp;&nbsp;11509882 | &nbsp;&nbsp;&nbsp;&nbsp;252844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | JPM | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6865407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7054444 | &nbsp;&nbsp;&nbsp;&nbsp;189037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 08/29/25 | HSBC | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3213500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3217410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, | Indonesian Rupiah, |
| &nbsp;&nbsp;Expiring 06/18/25 | BOA | IDR | 114834000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6993118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7014905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | IDR | &nbsp;&nbsp;&nbsp;37206760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2258000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2272863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | JPM | IDR | &nbsp;&nbsp;&nbsp;28383820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, |
| &nbsp;&nbsp;Expiring 07/22/25 | BOA | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 07/22/25 | GSI | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 07/22/25 | HSBC | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1079000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3128) |
| &nbsp;&nbsp;Expiring 07/22/25 | SCB | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2217952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(26900) |
| Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, |
| &nbsp;&nbsp;Expiring 06/18/25 | BNP | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2262230 | &nbsp;&nbsp;&nbsp;&nbsp;101230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchase<br> Contracts** | **Counterparty** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value at<br> Settlement<br> Date** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |
| Mexican Peso (cont'd.), | Mexican Peso (cont'd.), | Mexican Peso (cont'd.), | Mexican Peso (cont'd.), | Mexican Peso (cont'd.), | Mexican Peso (cont'd.), | Mexican Peso (cont'd.), | Mexican Peso (cont'd.), |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65795 | &nbsp;&nbsp;&nbsp; $3192912 | &nbsp;&nbsp;&nbsp; $3384129 | &nbsp;&nbsp; $191217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3108000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3359033 | &nbsp;&nbsp;&nbsp;&nbsp;251033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2898000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2918159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2399000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2653508 | &nbsp;&nbsp;&nbsp;&nbsp;254508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | SCB | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2656000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932864 | &nbsp;&nbsp;&nbsp;&nbsp;276864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2038573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | DB | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1856707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | SCB | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, |
| &nbsp;&nbsp;Expiring 06/18/25 | MSI | PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6514747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6687557 | &nbsp;&nbsp;&nbsp;&nbsp;172810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, | Polish Zloty, |
| &nbsp;&nbsp;Expiring 07/22/25 | HSBC | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, |
| &nbsp;&nbsp;Expiring 06/18/25 | DB | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2593413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | JPM | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2231732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3520178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3598164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, |
| &nbsp;&nbsp;Expiring 06/18/25 | BOA | KRW | &nbsp;&nbsp;&nbsp;&nbsp;2665624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1846000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | KRW | &nbsp;&nbsp;&nbsp;&nbsp;1190260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | KRW | &nbsp;&nbsp;&nbsp;&nbsp;2834322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2062000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2054154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7846) |
| Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1879000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, |
| &nbsp;&nbsp;Expiring 06/03/25 | HSBC | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2913499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2959577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/30/25 | BARC | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3671210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3663903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7307) |
| &nbsp;&nbsp;Expiring 07/09/25 | HSBC | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2970623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(12221) |
|  |  |  |  | $143376181 | $145583604 | &nbsp;&nbsp;&nbsp;2418091 | &nbsp;&nbsp;&nbsp;(210668) |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale<br> Contracts** | **Counterparty** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value at<br> Settlement<br> Date** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** | **OTC Forward Foreign Currency Exchange Contracts:** |
| Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, | Brazilian Real, |
| &nbsp;&nbsp;Expiring 06/03/25 | GSI | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64957 | $11478598 | $11345957 | &nbsp;&nbsp; $132641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, | British Pound, |
| &nbsp;&nbsp;Expiring 07/22/25 | DB | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24299 | &nbsp;&nbsp;&nbsp;&nbsp;32149026 | &nbsp;&nbsp;&nbsp;&nbsp;32746625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(597599) |
| Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, | Chilean Peso, |
| &nbsp;&nbsp;Expiring 06/18/25 | BOA | CLP | &nbsp;&nbsp;&nbsp;&nbsp;793084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | CLP | &nbsp;&nbsp;&nbsp;&nbsp;880237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | DB | CLP | &nbsp;&nbsp;&nbsp;&nbsp;798724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;857000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, | Chinese Renminbi, |
| &nbsp;&nbsp;Expiring 06/18/25 | BOA | CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2353000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2359458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6458) |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14832) |
| &nbsp;&nbsp;Expiring 06/18/25 | JPM | CNH | &nbsp;&nbsp;&nbsp;&nbsp;124561 | &nbsp;&nbsp;&nbsp;&nbsp;17264535 | &nbsp;&nbsp;&nbsp;&nbsp;17313187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(48652) |
| Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, | Colombian Peso, |
| &nbsp;&nbsp;Expiring 06/18/25 | BARC | COP | &nbsp;&nbsp;&nbsp;4143888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | COP | &nbsp;&nbsp;&nbsp;4306345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38102) |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | COP | &nbsp;&nbsp;&nbsp;3819463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;917185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(61185) |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | COP | &nbsp;&nbsp;&nbsp;2478090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30075) |
| &nbsp;&nbsp;Expiring 06/18/25 | DB | COP | &nbsp;&nbsp;&nbsp;3628704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15377) |
| Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, | Czech Koruna, |
| &nbsp;&nbsp;Expiring 07/22/25 | CITI | CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3509756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3517995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8239) |
| &nbsp;&nbsp;Expiring 07/22/25 | MSI | CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1823441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42441) |
| Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, | Euro, |
| &nbsp;&nbsp;Expiring 07/22/25 | GSI | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13371) |
| &nbsp;&nbsp;Expiring 07/22/25 | GSI | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10034) |
| &nbsp;&nbsp;Expiring 07/22/25 | HSBC | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31491 | &nbsp;&nbsp;&nbsp;&nbsp;34650293 | &nbsp;&nbsp;&nbsp;&nbsp;35881372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1231079) |
| &nbsp;&nbsp;Expiring 07/22/25 | HSBC | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1318000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 07/22/25 | JPM | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3789000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40024) |
| &nbsp;&nbsp;Expiring 07/22/25 | MSI | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9323814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9461770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(137956) |
| &nbsp;&nbsp;Expiring 07/22/25 | SSB | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32894 | &nbsp;&nbsp;&nbsp;&nbsp;37667305 | &nbsp;&nbsp;&nbsp;&nbsp;37479983 | &nbsp;&nbsp;&nbsp;&nbsp;187322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 07/22/25 | TD | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31966 | &nbsp;&nbsp;&nbsp;&nbsp;36531979 | &nbsp;&nbsp;&nbsp;&nbsp;36422520 | &nbsp;&nbsp;&nbsp;&nbsp;109459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, | Indian Rupee, |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | INR | &nbsp;&nbsp;&nbsp;&nbsp;200565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2342022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24022) |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | INR | &nbsp;&nbsp;&nbsp;&nbsp;213401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2491913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(26913) |
| &nbsp;&nbsp;Expiring 06/18/25 | MSI | INR | &nbsp;&nbsp;&nbsp;&nbsp;267950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80883) |
| &nbsp;&nbsp;Expiring 06/18/25 | MSI | INR | &nbsp;&nbsp;&nbsp;&nbsp;224975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2627064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(57064) |
| Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, | Japanese Yen, |
| &nbsp;&nbsp;Expiring 07/22/25 | CITI | JPY | &nbsp;&nbsp;&nbsp;&nbsp;104852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;Expiring 07/22/25 | DB | JPY | &nbsp;&nbsp;&nbsp;&nbsp;104580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;739000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, | Mexican Peso, |
| &nbsp;&nbsp;Expiring 06/18/25 | DB | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2151745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(148745) |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sale<br> Contracts** | **Counterparty** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **Value at<br> Settlement<br> Date** | **Current<br> Value** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** |
| **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** | **OTC Forward Foreign Currency Exchange Contracts (cont'd.):** |
| New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, | New Taiwanese Dollar, |
| &nbsp;&nbsp;Expiring 06/18/25 | BOA | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85812 | &nbsp;&nbsp;&nbsp; $2619000 | &nbsp;&nbsp;&nbsp; $2883646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $(264646) |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | TWD | &nbsp;&nbsp;&nbsp;&nbsp;420245 | &nbsp;&nbsp;&nbsp;&nbsp;12881081 | &nbsp;&nbsp;&nbsp;&nbsp;14122094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(1241013) |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2949000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3248905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(299905) |
| &nbsp;&nbsp;Expiring 06/18/25 | MSI | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2909098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(254098) |
| New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, | New Zealand Dollar, |
| &nbsp;&nbsp;Expiring 07/22/25 | MSI | NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2573) |
| Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, | Peruvian Nuevo Sol, |
| &nbsp;&nbsp;Expiring 06/18/25 | DB | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1611000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17021) |
| &nbsp;&nbsp;Expiring 06/18/25 | SCB | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2183000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2223202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40202) |
| &nbsp;&nbsp;Expiring 06/18/25 | SCB | PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2032000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28390) |
| Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, | Philippine Peso, |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(651) |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1102257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(257) |
| Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, | Singapore Dollar, |
| &nbsp;&nbsp;Expiring 06/18/25 | BOA | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8625769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8867727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(241958) |
| &nbsp;&nbsp;Expiring 06/18/25 | BOA | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2632000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2715677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(83677) |
| South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, | South African Rand, |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22045) |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21992) |
| South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, | South Korean Won, |
| &nbsp;&nbsp;Expiring 06/18/25 | BNP | KRW | 10391499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7225401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7531164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(305763) |
| &nbsp;&nbsp;Expiring 06/18/25 | BNY | KRW | 10391499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7221484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7531163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(309679) |
| Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, | Thai Baht, |
| &nbsp;&nbsp;Expiring 06/18/25 | CITI | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(88276) |
| &nbsp;&nbsp;Expiring 06/18/25 | HSBC | THB | &nbsp;&nbsp;&nbsp;&nbsp;274474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8154911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8373602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(218691) |
| Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, | Turkish Lira, |
| &nbsp;&nbsp;Expiring 06/03/25 | HSBC | TRY | &nbsp;&nbsp;&nbsp;&nbsp;116649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2969306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2959576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  |  |  |  | $285084681 | $290658782 | &nbsp;&nbsp;&nbsp;&nbsp;499787 | &nbsp;&nbsp;&nbsp;(6073888) |
|  |  |  |  |  |  | $2917878 | $(6284556) |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cross currency exchange contract outstanding at May 31, 2025:** | **Cross currency exchange contract outstanding at May 31, 2025:** | **Cross currency exchange contract outstanding at May 31, 2025:** | **Cross currency exchange contract outstanding at May 31, 2025:** | **Cross currency exchange contract outstanding at May 31, 2025:** | **Cross currency exchange contract outstanding at May 31, 2025:** | **Cross currency exchange contract outstanding at May 31, 2025:** | **Cross currency exchange contract outstanding at May 31, 2025:** | **Cross currency exchange contract outstanding at May 31, 2025:** |
| **Settlement** | **Type** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **In Exchange<br> For (000)** | **In Exchange<br> For (000)** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** | **Counterparty** |
| **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** | **OTC Cross Currency Exchange Contracts:** |
| 07/22/25 | Buy | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;JPY | 89282 | $10065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | MSI |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Cross currency exchange contract outstanding at May 31, 2025 (continued):** | **Cross currency exchange contract outstanding at May 31, 2025 (continued):** | **Cross currency exchange contract outstanding at May 31, 2025 (continued):** | **Cross currency exchange contract outstanding at May 31, 2025 (continued):** | **Cross currency exchange contract outstanding at May 31, 2025 (continued):** | **Cross currency exchange contract outstanding at May 31, 2025 (continued):** | **Cross currency exchange contract outstanding at May 31, 2025 (continued):** | **Cross currency exchange contract outstanding at May 31, 2025 (continued):** | **Cross currency exchange contract outstanding at May 31, 2025 (continued):** |
| **Settlement** | **Type** | **Notional<br> Amount<br> (000)** | **Notional<br> Amount<br> (000)** | **In Exchange<br> For (000)** | **In Exchange<br> For (000)** | **Unrealized<br> Appreciation** | **Unrealized<br> Depreciation** | **Counterparty** |
| **OTC Cross Currency Exchange Contracts (cont'd.):** | **OTC Cross Currency Exchange Contracts (cont'd.):** | **OTC Cross Currency Exchange Contracts (cont'd.):** | **OTC Cross Currency Exchange Contracts (cont'd.):** | **OTC Cross Currency Exchange Contracts (cont'd.):** | **OTC Cross Currency Exchange Contracts (cont'd.):** | **OTC Cross Currency Exchange Contracts (cont'd.):** | **OTC Cross Currency Exchange Contracts (cont'd.):** | **OTC Cross Currency Exchange Contracts (cont'd.):** |
| 07/22/25 | Buy | EUR | &nbsp;&nbsp;&nbsp;&nbsp;1696 | &nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;7251 | &nbsp;&nbsp;&nbsp;&nbsp; $— | $(2574) | CITI |
| 07/22/25 | Buy | JPY | &nbsp;&nbsp;&nbsp;89739 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(6865) | CITI |
| 07/22/25 | Buy | JPY | 179650 | EUR | &nbsp;&nbsp;&nbsp;1113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(12532) | MSI |
| 07/22/25 | Buy | PLN | &nbsp;&nbsp;&nbsp;&nbsp;7186 | EUR | &nbsp;&nbsp;&nbsp;1662 | &nbsp;&nbsp;&nbsp;23680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | BNP |
|  |  |  |  |  |  | $33745 | $(21971) |  |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | **Fixed<br> Rate** | **Notional<br> Amount<br> (000)#(3)** | **Fair<br> Value** | **Upfront<br> Premiums<br> Paid<br> (Received)** | **Unrealized<br> Appreciation<br> (Depreciation)** | **Counterparty** |
| **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*:** |
| Arab Republic of Egypt | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp; $349526 | &nbsp;&nbsp;&nbsp;&nbsp; $53 | &nbsp;&nbsp; $349473 | GSI |
| Dominican Republic | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78382 | GSI |
| Emirate of Abu Dhabi | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63695) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(63748) | GSI |
| Federal Republic of Nigeria | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;383081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;383028 | GSI |
| Federation of Malaysia | 06/20/30 | 1.000%(Q) | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76494) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76574) | GSI |
| Federative Republic of Brazil | 06/20/30 | 1.000%(Q) | 9000 | &nbsp;&nbsp;&nbsp;&nbsp;228033 | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;227792 | GSI |
| Kingdom of Bahrain | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97704 | GSI |
| Kingdom of Morocco | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31) | GSI |
| Kingdom of Saudi Arabia | 06/20/30 | 1.000%(Q) | 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73781) | &nbsp;&nbsp;&nbsp;&nbsp;134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73915) | GSI |
| People's Republic of China | 06/20/30 | 1.000%(Q) | 9000 | &nbsp;&nbsp;&nbsp;&nbsp;(218916) | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;(219157) | GSI |
| Republic of Argentina | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;521052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;520999 | GSI |
| Republic of Chile | 06/20/30 | 1.000%(Q) | 6000 | &nbsp;&nbsp;&nbsp;&nbsp;(124550) | &nbsp;&nbsp;&nbsp;&nbsp;160 | &nbsp;&nbsp;&nbsp;&nbsp;(124710) | GSI |
| Republic of Colombia | 06/20/30 | 1.000%(Q) | 7000 | &nbsp;&nbsp;&nbsp;&nbsp;382803 | &nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;382616 | GSI |
| Republic of Indonesia | 06/20/30 | 1.000%(Q) | 8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90287) | &nbsp;&nbsp;&nbsp;&nbsp;214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(90501) | GSI |
| Republic of Ivory Coast | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;266124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;266071 | GSI |
| Republic of Panama | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87215 | GSI |
| Republic of Peru | 06/20/30 | 1.000%(Q) | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25907) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25987) | GSI |
| Republic of Philippines | 06/20/30 | 1.000%(Q) | 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60024) | GSI |
| Republic of South Africa | 06/20/30 | 1.000%(Q) | 9000 | &nbsp;&nbsp;&nbsp;&nbsp;398162 | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;397921 | GSI |
| Republic of Turkey | 06/20/30 | 1.000%(Q) | 9000 | &nbsp;&nbsp;&nbsp;&nbsp;829202 | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;828961 | GSI |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | **Fixed<br> Rate** | **Notional<br> Amount<br> (000)#(3)** | **Fair<br> Value** | **Upfront<br> Premiums<br> Paid<br> (Received)** | **Unrealized<br> Appreciation<br> (Depreciation)** | **Counterparty** |
| **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*(cont'd.):** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*(cont'd.):** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*(cont'd.):** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*(cont'd.):** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*(cont'd.):** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*(cont'd.):** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*(cont'd.):** | **OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)\*\*(cont'd.):** |
| Sultanate of Oman | 06/20/30 | 1.000%(Q) | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; $4863 | &nbsp;&nbsp;&nbsp;&nbsp; $53 | &nbsp;&nbsp;&nbsp;&nbsp; $4810 | GSI |
| United Mexican States | 06/20/30 | 1.000%(Q) | 9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61814 | &nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61573 | GSI |
|  |  |  |  | $2954568 | $2670 | $2951898 |  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | **Fixed<br> Rate** | **Notional<br> Amount<br> (000)#(3)** | **Implied<br> Credit<br> Spread at<br> May 31,<br> 2025(4)** | **Fair<br> Value** | **Upfront<br> Premiums<br> Paid<br> (Received)** | **Unrealized<br> Appreciation<br> (Depreciation)** | **Counterparty** |
| **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** | **OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)\*\*:** |
| CDX.EM.43.V1 | 06/20/30 | 1.000%(Q) | 100000 | 1.725% | $(2992777) | $(31547) | $(2961230) | GSI |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | **Fixed<br> Rate** | **Notional<br> Amount<br> (000)#(3)** | **Fair<br> Value** | **Upfront<br> Premiums<br> Paid<br> (Received)** | **Unrealized<br> Appreciation<br> (Depreciation)** | **Counterparty** |
| **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** | **OTC Credit Default Swap Agreement on asset-backed and/or mortgage-backed securities - Sell Protection(2)^:** |
| GS_24-PCA | 08/02/27 | 1.650%(M) | 5170 \* | $7402 | $(1530) | $8932 | GSI |

---

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | **Fixed<br> Rate** | **Notional<br> Amount<br> (000)#(3)** |  | **Fair<br> Value** |  | **Upfront<br> Premiums<br> Paid<br> (Received)** |  | **Unrealized<br> Appreciation<br> (Depreciation)** |  | **Counterparty** |
| **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):** |  |
| ADT Security Corp. | 06/20/29 | 5.000%(Q) | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp; $(154699) |  | &nbsp;&nbsp; $(118131) |  | $(36568) |  | GSI |  |
| Antero Resources Corp. | 06/20/29 | 5.000%(Q) | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(148765) |  | &nbsp;&nbsp;&nbsp;&nbsp;(130411) |  | &nbsp;&nbsp;&nbsp;&nbsp;(18354) |  | GSI |  |
| Bombardier, Inc. | 06/20/29 | 5.000%(Q) | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(129797) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(84836) |  | &nbsp;&nbsp;&nbsp;&nbsp;(44961) |  | GSI |  |
| Caesars Entertainment, Inc. | 06/20/29 | 5.000%(Q) | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(109757) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94849) |  | &nbsp;&nbsp;&nbsp;&nbsp;(14908) |  | GSI |  |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | **Fixed<br> Rate** | **Notional<br> Amount<br> (000)#(3)** | **Notional<br> Amount<br> (000)#(3)** |  | **Fair<br> Value** |  | **Upfront<br> Premiums<br> Paid<br> (Received)** |  | **Unrealized<br> Appreciation<br> (Depreciation)** |  | **Counterparty** |
| **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)(cont'd.):** |  |
| Chesapeake Energy Corp. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp; $(156204) |  | &nbsp;&nbsp; $(141081) |  | $(15123) |  | GSI |  |
| Cleveland-Cliffs, Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34478) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(98354) |  | &nbsp;&nbsp;&nbsp;&nbsp;63876 |  | GSI |  |
| EQM Midstream Partners LP | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(160922) |  | &nbsp;&nbsp;&nbsp;&nbsp;(135336) |  | &nbsp;&nbsp;&nbsp;&nbsp;(25586) |  | GSI |  |
| Frontier Communications Holdings LLC | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(164165) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31660) |  | &nbsp;&nbsp;&nbsp;(132505) |  | GSI |  |
| Genworth Holdings, Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(135392) |  | &nbsp;&nbsp;&nbsp;&nbsp;(122931) |  | &nbsp;&nbsp;&nbsp;&nbsp;(12461) |  | GSI |  |
| GFL Environmental, Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(158365) |  | &nbsp;&nbsp;&nbsp;&nbsp;(124417) |  | &nbsp;&nbsp;&nbsp;&nbsp;(33948) |  | GSI |  |
| Hilton Domestic Operating Co., Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(158966) |  | &nbsp;&nbsp;&nbsp;&nbsp;(131921) |  | &nbsp;&nbsp;&nbsp;&nbsp;(27045) |  | GSI |  |
| HUB International Ltd. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(153821) |  | &nbsp;&nbsp;&nbsp;&nbsp;(106522) |  | &nbsp;&nbsp;&nbsp;&nbsp;(47299) |  | GSI |  |
| Louisiana-Pacific Corp. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(164522) |  | &nbsp;&nbsp;&nbsp;&nbsp;(138009) |  | &nbsp;&nbsp;&nbsp;&nbsp;(26513) |  | GSI |  |
| Medline Borrower LP | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(151221) |  | &nbsp;&nbsp;&nbsp;&nbsp;(111565) |  | &nbsp;&nbsp;&nbsp;&nbsp;(39656) |  | GSI |  |
| Murphy Oil Corp. | 06/20/29 | 1.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27965 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3219 |  | &nbsp;&nbsp;&nbsp;&nbsp;24746 |  | GSI |  |
| Organon & Co. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(66700) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94849) |  | &nbsp;&nbsp;&nbsp;&nbsp;28149 |  | GSI |  |
| PG&E Corp. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(137849) |  | &nbsp;&nbsp;&nbsp;&nbsp;(114837) |  | &nbsp;&nbsp;&nbsp;&nbsp;(23012) |  | GSI |  |
| Post Holdings, Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(143425) |  | &nbsp;&nbsp;&nbsp;&nbsp;(119234) |  | &nbsp;&nbsp;&nbsp;&nbsp;(24191) |  | GSI |  |
| Republic of Italy | 12/20/27 | 1.000%(Q) | EUR | 1475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43327) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(28070) |  | &nbsp;&nbsp;&nbsp;&nbsp;(15257) |  | BARC |  |
| Safeway, Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(163473) |  | &nbsp;&nbsp;&nbsp;&nbsp;(141081) |  | &nbsp;&nbsp;&nbsp;&nbsp;(22392) |  | GSI |  |
| Standard Building Solutions, Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(157744) |  | &nbsp;&nbsp;&nbsp;&nbsp;(131921) |  | &nbsp;&nbsp;&nbsp;&nbsp;(25823) |  | GSI |  |
| Tenet Healthcare Corp. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(149368) |  | &nbsp;&nbsp;&nbsp;&nbsp;(120710) |  | &nbsp;&nbsp;&nbsp;&nbsp;(28658) |  | GSI |  |
| U.S. Treasury Notes | 06/20/25 | 0.250%(Q) | EUR | &nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(173) |  | BARC |  |
| Uber Technologies, Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(167953) |  | &nbsp;&nbsp;&nbsp;&nbsp;(134575) |  | &nbsp;&nbsp;&nbsp;&nbsp;(33378) |  | GSI |  |
| United Rentals North America, Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(157663) |  | &nbsp;&nbsp;&nbsp;&nbsp;(131165) |  | &nbsp;&nbsp;&nbsp;&nbsp;(26498) |  | GSI |  |
| Venture Global LNG, Inc. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(100366) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92411) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7955) |  | GSI |  |
| Weatherford International Ltd. | 06/20/29 | 5.000%(Q) |  | &nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;(120688) |  | &nbsp;&nbsp;&nbsp;&nbsp;(128530) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7842 |  | GSI |  |
|  |  |  |  |  | $(3361853) |  | $(2804202) |  | $(557651) |  |  |  |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | **Fixed<br> Rate** | **Notional<br> Amount<br> (000)#(3)** | **Implied<br> Credit<br> Spread at<br> May 31,<br> 2025(4)** | **Fair<br> Value** | **Upfront<br> Premiums<br> Paid<br> (Received)** | **Unrealized<br> Appreciation<br> (Depreciation)** | **Counterparty** |
| **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):** |
| Bank of America Corp. | 12/20/25 | &nbsp;&nbsp;1.000%(Q) | 1300 | 0.255% | &nbsp;&nbsp;&nbsp; $8022 | &nbsp;&nbsp; $5174 | &nbsp;&nbsp;&nbsp; $2848 | GSI |
| Bank of Montreal^ | 11/20/29 | &nbsp;&nbsp;1.250%(Q) | &nbsp;&nbsp;&nbsp;335 | \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(127) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(127) | GSI |
| Canadian Imperial Bank of Commerce^ | 06/20/28 | &nbsp;&nbsp;1.100%(Q) | &nbsp;&nbsp;&nbsp;265 | \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1353 | GSI |
| Citigroup, Inc. | 12/20/25 | &nbsp;&nbsp;1.000%(Q) | 1300 | 0.267% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7934 | &nbsp;&nbsp;&nbsp;&nbsp;5245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2689 | GSI |
| General Motors Co. | 06/20/26 | &nbsp;&nbsp;5.000%(Q) | 2390 | 0.420% | &nbsp;&nbsp;&nbsp;138091 | &nbsp;&nbsp;&nbsp;&nbsp;98076 | &nbsp;&nbsp;&nbsp;&nbsp;40015 | GSI |
| Halliburton Co. | 12/20/26 | &nbsp;&nbsp;1.000%(Q) | 2770 | 0.352% | &nbsp;&nbsp;&nbsp;&nbsp;32868 | &nbsp;&nbsp;&nbsp;&nbsp;8250 | &nbsp;&nbsp;&nbsp;&nbsp;24618 | GSI |
| Hellenic Republic | 06/20/25 | &nbsp;&nbsp;1.000%(Q) | 1000 | 0.061% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | BARC |
| Hellenic Republic | 06/20/27 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;280 | 0.215% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4940 | &nbsp;&nbsp;&nbsp;&nbsp;4011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;929 | BARC |
| Hellenic Republic | 12/20/27 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;210 | 0.283% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4118 | &nbsp;&nbsp;&nbsp;&nbsp;3393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | BARC |
| Kingdom of Norway | 12/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;—%(Q) | 2810 | 0.043% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(666) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(769) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103 | BARC |
| Lincoln National Corp. | 12/20/29 | &nbsp;&nbsp;1.000%(Q) | 2260 | 1.213% | &nbsp;&nbsp;&nbsp;(15134) | &nbsp;&nbsp;&nbsp;(40954) | &nbsp;&nbsp;&nbsp;&nbsp;25820 | BARC |
| Morgan Stanley | 12/20/25 | &nbsp;&nbsp;1.000%(Q) | 1300 | 0.257% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8003 | &nbsp;&nbsp;&nbsp;&nbsp;5174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2829 | GSI |
| Pacific Life | 08/20/35 | &nbsp;&nbsp;2.500%(Q) | &nbsp;&nbsp;&nbsp;400 | 2.468% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3023 | GSI |
| Petroleos Mexicanos | 06/20/25 | &nbsp;&nbsp;1.000%(Q) | 1030 | 3.366% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972 | MSI |
| Petroleos Mexicanos | 12/24/25 | 3.750%(M) | 1085 | 3.283% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400 | GSI |
| Petroleos Mexicanos^ | 03/23/26 | 4.100%(M) | 2760 | \* | &nbsp;&nbsp;&nbsp;&nbsp;17950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;17950 | GSI |
| Petroleos Mexicanos^ | 05/07/26 | 4.750%(M) | 1700 | \* | &nbsp;&nbsp;&nbsp;&nbsp;24776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;24776 | GSI |
| Republic of Argentina | 09/20/25 | &nbsp;&nbsp;5.000%(Q) | 1430 | 7.596% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3176 | &nbsp;&nbsp;&nbsp;(12354) | &nbsp;&nbsp;&nbsp;&nbsp;15530 | BARC |
| Republic of Argentina | 09/20/25 | &nbsp;&nbsp;5.000%(Q) | 1168 | 7.596% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2594 | &nbsp;&nbsp;&nbsp;&nbsp;(8222) | &nbsp;&nbsp;&nbsp;&nbsp;10816 | BARC |
| Simon Property Group LP | 06/20/26 | &nbsp;&nbsp;1.000%(Q) | 3820 | 0.197% | &nbsp;&nbsp;&nbsp;&nbsp;39720 | &nbsp;&nbsp;&nbsp;&nbsp;9337 | &nbsp;&nbsp;&nbsp;&nbsp;30383 | GSI |
| SoftBank Group Corp. | 06/20/26 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;990 | 1.564% | &nbsp;&nbsp;&nbsp;&nbsp;(3757) | &nbsp;&nbsp;&nbsp;&nbsp;(5134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377 | GSI |

---

------

### PGIM Strategic Bond Fund

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

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | **Fixed<br> Rate** | **Notional<br> Amount<br> (000)#(3)** | **Implied<br> Credit<br> Spread at<br> May 31,<br> 2025(4)** | **Fair<br> Value** | **Upfront<br> Premiums<br> Paid<br> (Received)** | **Unrealized<br> Appreciation<br> (Depreciation)** | **Counterparty** |
| **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** | **OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont'd.):** |
| UnitedHealth Group, Inc. | 06/20/26 | &nbsp;&nbsp;1.000%(Q) | &nbsp;&nbsp;&nbsp;580 | 0.277% | &nbsp;&nbsp;&nbsp; $5542 | &nbsp;&nbsp; $4396 | &nbsp;&nbsp;&nbsp; $1146 | GSI |
| Verizon Communications, Inc. | 06/20/26 | &nbsp;&nbsp;1.000%(Q) | 5130 | 0.308% | &nbsp;&nbsp;&nbsp;&nbsp;47382 | &nbsp;&nbsp;&nbsp;&nbsp;22645 | &nbsp;&nbsp;&nbsp;&nbsp;24737 | GSI |
|  |  |  |  |  | $336457 | $98445 | $238012 |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **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> May 31,<br> 2025** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Buy Protection(1):** |
| CDX.NA.HY.44.V1 | 06/20/30 | 5.000%(Q) | 6000 | $(130974) | $(431023) | $(300049) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Reference<br> Entity/<br> Obligation** | **Termination<br> Date** | **Fixed<br> Rate** | **Notional<br> Amount<br> (000)#(3)** | **Implied Credit<br> Spread at<br> May 31,<br> 2025(4)** | **Value at<br> Trade Date** | **Value at<br> May 31,<br> 2025** | **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):** | **Centrally Cleared Credit Default Swap Agreement on credit indices - Sell Protection(2):** |
| CDX.NA.IG.44.V1 | 06/20/30 | 1.000%(Q) | 106271 | 0.560% | $2036201 | $2348415 | $312214 |

---

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

------

### PGIM Strategic Bond Fund

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

---

| | |
|:---|:---|
|  | amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
| (3) | Notional amount represents the maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
| (4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Fund is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
| \* | When an implied credit spread is not available, reference the fair value of credit default swap agreements on credit indices and asset-backed securities. Where the Fund is the seller of protection, it serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms, when compared to the notional amount of the swap, represents a deterioration of the referenced entity's credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br> Amount<br> (000)#** | **Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Floating<br> Rate** | &nbsp;&nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;&nbsp;**Value at<br> May 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** | **Centrally Cleared Interest Rate Swap Agreements:** |
| GBP | 8995 | &nbsp;&nbsp;05/08/26 | &nbsp;&nbsp;1.000%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.211% | &nbsp;&nbsp; $(117197) | &nbsp;&nbsp; $357094 | &nbsp;&nbsp; $474291 |
| GBP | 6015 | &nbsp;&nbsp;05/08/27 | &nbsp;&nbsp;1.050%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.211% | &nbsp;&nbsp;&nbsp;&nbsp;124739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309401 |
| GBP | 2730 | &nbsp;&nbsp;05/08/29 | &nbsp;&nbsp;1.100%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.211% | &nbsp;&nbsp;&nbsp;&nbsp;(66527) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434232 |
| GBP | 422 | &nbsp;&nbsp;05/08/31 | &nbsp;&nbsp;1.150%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.211% | &nbsp;&nbsp;&nbsp;&nbsp;(18372) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101199 |
| GBP | 340 | &nbsp;&nbsp;05/08/32 | &nbsp;&nbsp;1.150%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.211% | &nbsp;&nbsp;&nbsp;&nbsp;(18242) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96182 |
| GBP | 155 | &nbsp;&nbsp;05/08/34 | &nbsp;&nbsp;1.200%(A) | &nbsp;&nbsp;1 Day SONIA(1)(A)/ 4.211% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48622 |
|  | 21390 | &nbsp;&nbsp;08/19/25 | &nbsp;&nbsp;4.395%(T) | &nbsp;&nbsp;1 Day SOFR(2)(T)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47221) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(47695) |

---

------

### PGIM Strategic Bond Fund

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

#### Interest rate swap agreements outstanding at May 31, 2025 (continued):<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Notional<br> Amount<br> (000)#** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Fixed<br> Rate** | &nbsp;&nbsp;&nbsp;**Floating<br> Rate** | &nbsp;&nbsp;&nbsp;**Value at<br> Trade Date** | &nbsp;&nbsp;&nbsp;**Value at<br> May 31,<br> 2025** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** | **Centrally Cleared Interest Rate Swap Agreements (cont'd.):** |
| 62470 | &nbsp;&nbsp;08/31/25 | &nbsp;&nbsp;4.805%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; $(142284) | &nbsp;&nbsp; $(142284) |
| 37000 | &nbsp;&nbsp;05/11/26 | &nbsp;&nbsp;4.750%(A) | &nbsp;&nbsp;1 Day SOFR(2)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;171220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69563 |
| 67775 | &nbsp;&nbsp;05/17/26 | &nbsp;&nbsp;4.669%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(398648) | &nbsp;&nbsp;&nbsp;&nbsp;(398648) |
| 11000 | &nbsp;&nbsp;09/25/26 | &nbsp;&nbsp;4.699%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2035 | &nbsp;&nbsp;&nbsp;&nbsp;(122598) | &nbsp;&nbsp;&nbsp;&nbsp;(124633) |
| 28000 | &nbsp;&nbsp;05/13/27 | &nbsp;&nbsp;4.497%(A) | &nbsp;&nbsp;1 Day SOFR(2)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;(13744) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430652 |
| 15700 | &nbsp;&nbsp;05/13/29 | &nbsp;&nbsp;4.253%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10037 | &nbsp;&nbsp;&nbsp;&nbsp;(384101) | &nbsp;&nbsp;&nbsp;&nbsp;(394138) |
| 20855 | &nbsp;&nbsp;12/20/44 | &nbsp;&nbsp;3.995%(A) | &nbsp;&nbsp;1 Day SOFR(2)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(356952) | &nbsp;&nbsp;&nbsp;&nbsp;(356952) |
| 11048 | &nbsp;&nbsp;11/15/52 | &nbsp;&nbsp;3.927%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273215 |
| 1640 | &nbsp;&nbsp;05/11/54 | &nbsp;&nbsp;1.350%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;748606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8683 |
| 23220 | &nbsp;&nbsp;12/14/54 | &nbsp;&nbsp;3.136%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;339586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246541 |
| 15895 | &nbsp;&nbsp;12/20/54 | &nbsp;&nbsp;3.825%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649662 |
| 21200 | &nbsp;&nbsp;01/15/55 | &nbsp;&nbsp;4.130%(A) | &nbsp;&nbsp;1 Day SOFR(1)(A)/ 4.350% | &nbsp;&nbsp;&nbsp;&nbsp;(399319) | &nbsp;&nbsp;&nbsp;&nbsp;(281040) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118279 |
|  |  |  |  | &nbsp;&nbsp;$759598 | &nbsp;&nbsp;$2555770 | &nbsp;&nbsp;$1796172 |

---

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

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swap agreements outstanding at May 31, 2025:** | **Total return swap agreements outstanding at May 31, 2025:** | **Total return swap agreements outstanding at May 31, 2025:** | **Total return swap agreements outstanding at May 31, 2025:** | **Total return swap agreements outstanding at May 31, 2025:** | **Total return swap agreements outstanding at May 31, 2025:** | **Total return swap agreements outstanding at May 31, 2025:** | **Total return swap agreements outstanding at May 31, 2025:** |
| **Reference Entity** | &nbsp;&nbsp;&nbsp;**Financing<br> Rate** | &nbsp;&nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Long (Short)<br> Notional<br> Amount<br> (000)#(1)** | &nbsp;&nbsp;&nbsp;**Fair<br> Value** | &nbsp;&nbsp;&nbsp;**Upfront<br> Premiums<br> Paid<br> (Received)** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)(2)** |
| **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** | **OTC Total Return Swap Agreements:** |
| iBoxx US Dollar Liquid Investment Grade Index(T) | &nbsp;&nbsp;1 Day SOFR(Q)/ 4.350% | &nbsp;&nbsp;JPM | &nbsp;&nbsp;06/20/25 | &nbsp;&nbsp;(19230) | &nbsp;&nbsp; $(309388) | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(309388) |

---

------

### PGIM Strategic Bond Fund

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Total return swap agreements outstanding at May 31, 2025 (continued):** | **Total return swap agreements outstanding at May 31, 2025 (continued):** | **Total return swap agreements outstanding at May 31, 2025 (continued):** | **Total return swap agreements outstanding at May 31, 2025 (continued):** | **Total return swap agreements outstanding at May 31, 2025 (continued):** | **Total return swap agreements outstanding at May 31, 2025 (continued):** | **Total return swap agreements outstanding at May 31, 2025 (continued):** | **Total return swap agreements outstanding at May 31, 2025 (continued):** |
| **Reference Entity** | &nbsp;&nbsp;&nbsp;**Financing<br> Rate** | &nbsp;&nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;**Long (Short)<br> Notional<br> Amount<br> (000)#(1)** | &nbsp;&nbsp;&nbsp;**Fair<br> Value** | &nbsp;&nbsp;&nbsp;**Upfront<br> Premiums<br> Paid<br> (Received)** | &nbsp;&nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)(2)** |
| **OTC Total Return Swap Agreements (cont'd.):** | **OTC Total Return Swap Agreements (cont'd.):** | **OTC Total Return Swap Agreements (cont'd.):** | **OTC Total Return Swap Agreements (cont'd.):** | **OTC Total Return Swap Agreements (cont'd.):** | **OTC Total Return Swap Agreements (cont'd.):** | **OTC Total Return Swap Agreements (cont'd.):** | **OTC Total Return Swap Agreements (cont'd.):** |
| Total Return Benchmark Bond Index(T) | &nbsp;&nbsp;1 Day USOIS -40bps(T)/ 3.930% | &nbsp;&nbsp;GSI | &nbsp;&nbsp;09/19/25 | &nbsp;&nbsp;(3943) | &nbsp;&nbsp; $117542 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $117542 |
| U.S. Treasury Bond(T) | &nbsp;&nbsp;1 Day USOIS +20bps(T)/ 4.530% | &nbsp;&nbsp;BOA | &nbsp;&nbsp;08/21/25 | &nbsp;&nbsp;17370 | &nbsp;&nbsp;&nbsp;&nbsp;(576858) | &nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;(576858) |
|  |  |  |  |  | &nbsp;&nbsp;$(768704) | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(768704) |

---

(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).

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Prudential Investment Portfolios 3

- **b. Investment Company Act file number:** 811-09805

- **c. CIK number of Registrant:** 0001104631

- **d. LEI of Registrant:** 549300IKC66S6EOWJB51

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

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

  - **City:** Newark

  - **State:** NJ

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** PGIM Strategic Bond Fund

- **b. EDGAR series identifier (if any):** S000050053

- **c. LEI of Series:** 549300406PT1FBJ8QB78

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-05-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1261998139.52

**Total Liabilities:** $144571593.45

**Net Assets:** $1117426546.07

**Delayed Delivery Securities:** $5667704.38

**Stand-by Commitments:** $68628028.67

**Cash Not Reported:** $13882581.02

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 283.90008000 | **1-Year:** 13161.56568000 | **5-Year:** 159278.49595000 | **10-Year:** 74222.99657000 | **30-Year:** 1252.86775000

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

- **3-Month:** 884.28991000 | **1-Year:** 33924.82490000 | **5-Year:** 50230.90913000 | **10-Year:** 3459.93795000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000158016 | -0.06%               | 0.17%                | -0.29%               |
| Class ID C000158017 | -0.14%               | 0.10%                | -0.36%               |
| Class ID C000158018 | -0.03%               | 0.19%                | -0.26%               |
| Class ID C000183669 | -0.15%               | 0.19%                | -0.26%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-10662.52               | $-1873402.41                               |
| Month 2  | $-189392.16              | $2049567.21                                |
| Month 3  | $-552570.42              | $-1583945.94                               |

**Designated Index Information**

- **Index Name:** PGIM Strategic Bond Fund - ExDerivatives

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                              | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO MERCANTILE EXCHANGE INC.                  | THREE-MONTH SOFR                                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -62 | NC      | $-35262.50    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | SWOP IRS USD                                                                    | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |   1685000 | OU      | $4.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | EUR CALL VERSUS HUF PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   1484000 | NC      | $36.86        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD/CNH FORWARD                                                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-48652.05    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/ZAR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-22044.88    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | 30Y UMBS TBA 5.5                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        55 | NC      | $22705.65     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                      | USD/KRW FORWARD                                                                 | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-305762.54   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7818.64      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                   | CDS CDX.NA.IG.44.V1                                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $2351366.65   | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS UNITED RENTALS NORTH AMERICA INC                                            | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-157791.20   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | USD CALL VERSUS KRW PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   3387000 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS HILTON DOMESTIC OPERATING CO INC                                            | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-159093.97   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | SWOP IRS USD                                                                    | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |   3415000 | OU      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF GREECE                                                          | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $4947.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS POST HOLDINGS INC                                                           | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-143552.87   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS KRW PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   3398000 | NC      | $12.05        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | CNH/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6457.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD CALL VERSUS COP PUT                                                         | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |   3387000 | NC      | $0.01         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | SGD/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $23731.54     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF PANAMA                                                          | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $87212.95     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | JPY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2920.77      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/INR FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-137946.99   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS CDX.NA.HY.43.V1                                                             | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $18264.06     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS EUR PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   1490000 | NC      | $6.69         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS KINGDOM OF MOROCCO                                                          | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-33.51       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS TWD PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -3387000 | NC      | $-53.76       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | 3 MONTH SOFR                                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       230 | NC      | $-23420.90    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF ITALY                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-43373.47    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | BRL CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |  -1693000 | NC      | $-3415.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/CNH FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-14831.81    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS ANTERO RESOURCES CORP                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-148892.66   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS HUB INTERNATIONAL LTD                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-153948.89   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | BRL CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   5080000 | NC      | $82.98        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS BANK OF AMERICA CORP                                                        | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $8058.42      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                      | MXN/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $101230.10    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | IDR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $49892.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/ZAR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $23174.14     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/CLP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $15334.64     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF COLOMBIA                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $382608.62    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CBOE FUTURES EXCHANGE, LLC                        | IBIG IBOXX ISHR                                                                 | CUSIP: 000000000<br>LEI: 254900O9GJPIWCP8RH13 | N/A              | DE               | CORP              | US        |      -264 | NC      | $-256710.96   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/NZD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2572.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS TENET HEALTHCARE CORP                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-149495.74   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF GREECE                                                          | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $4123.04      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | BRL CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |  -1693000 | NC      | $-3415.48     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | ZAR CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -1692000 | NC      | $-20573.60    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS UNITEDHEALTH GROUP INC                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $5558.10      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS PACIFIC LIFE GLOBAL FUNDING II                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $3049.56      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS CHESAPEAKE ENERGY CORP                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-156331.92   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                             | CDS REPUBLIC OF GREECE                                                          | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DCR              | CORP              | US        |         1 | NC      | $2597.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | TRY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-12220.59    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/PEN FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $69960.50     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | IDR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $14862.52     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/ZAR FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-21992.46    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                   | CDS CDX.NA.HY.44.V1                                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-431855.86   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS EUR PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -1490000 | NC      | $-7666.72     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/TRY FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $9729.76      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | INR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $189036.68    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF COTE D'IVOIRE                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $266068.46    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS GFL ENVIRONMENTAL INC                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-158492.94   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | INR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3909.91      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | SGD/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $13413.06     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF SOUTH AFRICA                                                    | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $397911.43    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD CALL VERSUS JPY PUT                                                         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |  -1691000 | NC      | $-9588.12     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS COP PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -1689000 | NC      | $-11402.74    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS EUR PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   8304000 | NC      | $3.98         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/TRY FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $46077.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS BRL PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   1687000 | NC      | $0.15         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | US ULTRA BOND CBT                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -471 | NC      | $-962132.96   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS HALLIBURTON CO                                                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $32944.67     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | USD/IDR FORWARD                                                                 | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $21786.74     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | SWOP CDS CDX.NA.IG.44.V1                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        | -27970000 | OU      | $-9127.55     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | BRL/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-4207.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS MXN PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   1689000 | NC      | $43.87        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | COP/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-15377.07    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | EUR CALL VERSUS MXN PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   1531000 | NC      | $121.84       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | BRL CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |  -1689000 | NC      | $-6989.38     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS COP PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    844000 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-137956.45   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-597599.24   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS VERIZON COMMUNICATIONS INC                                                  | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $47524.53     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | USD CALL VERSUS KRW PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |  -3387000 | NC      | $-3740.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD CALL VERSUS COP PUT                                                         | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |  -3387000 | NC      | $-662.80      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL PLC            | SWOP CDS CDX.NA.IG.44.V1                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              | CORP              | GB        | -94000000 | OU      | $-20941.20    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/TWD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1540917.33  | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/TWD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $525699.37    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | BRL CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -5080000 | NC      | $-239813.71   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | US 10YR ULTRA                                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       455 | NC      | $363519.55    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America, National Association             | JPY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $6399.08      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS PEOPLES REPUBLIC OF CHINA                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-219166.78   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS GENERAL MOTORS CO                                                           | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $138422.91    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | SGD/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-325634.16   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | US 2YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       230 | NC      | $55132.18     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TWD PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   2545000 | NC      | $43.30        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | CLP/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $17779.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-23405.22    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS KRW PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -1688000 | NC      | $-10384.91    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | USD CALL VERSUS EUR PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   1502000 | NC      | $20.95        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS KRW PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   1688000 | NC      | $10.16        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | INR CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   2825000 | NC      | $600.16       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS UBER TECHNOLOGIES INC                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-168080.86   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3127.72     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS KRW PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -3398000 | NC      | $-17252.50    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS MXN PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -1689000 | NC      | $-2838.27     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |    842000 | NC      | $717.00       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS CITIGROUP INC                                                               | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $7970.74      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Bank and Trust Company               | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              | CORP              | US        |         1 | NC      | $187321.98    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | SWOP CDS CDX.NA.HY.44.V1                                                        | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DCR              | CORP              | US        |  -5660000 | OU      | $-3575.82     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | KRW/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-7845.70     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS LINCOLN NATIONAL CORP                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-15071.05    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | INR CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -6427000 | NC      | $-116088.12   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS TWD PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   3387000 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | THREE-MONTH SOFR                                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |        62 | NC      | $387.50       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | US 10YR NOTE (CBT)                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       766 | NC      | $545656.31    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | EUR CALL VERSUS TRY PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   1537000 | NC      | $171.05       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | USD CALL VERSUS COP PUT                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |   -844000 | NC      | $-165.16      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-40024.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/MXN FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-148745.45   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL PLC            | SWOP CDS CDX.NA.IG.44.V1                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              | CORP              | GB        |  94000000 | OU      | $43058.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                 | EURO-BOBL                                                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |      -195 | NC      | $-50939.90    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | THB/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $27178.84     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS MEDLINE BORROWER LP                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-151348.79   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS EQM MIDSTREAM PARTNERS LP                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-161049.64   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS MORGAN STANLEY                                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $8039.13      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS KINGDOM OF SAUDI ARABIA                                                     | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-73920.21    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/TWD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $61032.13     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | EUR/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-12531.95    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/CLP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $9916.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | USD/PEN FORWARD                                                                 | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |         1 | NC      | $17938.10     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| THE TORONTO-DOMINION BANK                         | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | N/A              | DFE              | CORP              | US        |         1 | NC      | $109458.63    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS FRONTIER COMMUNICATIONS HOLDINGS LLC                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-164292.41   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS SOFTBANK GROUP CORP                                                         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-3729.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | INR CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  10022000 | NC      | $2129.14      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS KINGDOM OF NORWAY                                                           | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-666.74      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS KRW PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   3387000 | NC      | $3740.39      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | HUF/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7371.09      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/THB FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-218691.41   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS BRL PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -1684000 | NC      | $-38442.95    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/COP FORWARD                                                                 | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3469.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                 | EURO-SCHATZ                                                                     | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -18 | NC      | $-5840.60     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | U.S. TREASURY BOND                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       592 | NC      | $392357.55    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   -842000 | NC      | $-5977.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | EUR CALL VERSUS PLN PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |  -1696000 | NC      | $-15145.32    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS ADT SECURITY CORP/THE                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-154826.89   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS FEDERAL REPUBLIC OF NIGERIA                                                 | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $383025.55    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | JPY/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-26899.82    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL PLC            | SWOP CDS CDX.NA.IG.44.V1                                                        | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              | CORP              | GB        | -94000000 | OU      | $-383093.34   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | MXN CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |    845000 | NC      | $11.20        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS VENTURE GLOBAL LNG INC                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-100494.06   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | ZAR CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   1692000 | NC      | $16.91        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | COP/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $909.46       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF PHILIPPINES                                                     | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-60026.84    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TWD PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -2545000 | NC      | $-10568.25    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF ARGENTINA                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $520997.36    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS BRL PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   1684000 | NC      | $89.71        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | EUR CALL VERSUS TRY PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -1537000 | NC      | $-12054.91    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS CLP PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   1691000 | NC      | $34.70        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | BRL/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-130144.39   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | BRL CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   1693000 | NC      | $0.02         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS GENWORTH HOLDINGS INC                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-135519.67   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | EUR CALL VERSUS PLN PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   1696000 | NC      | $69.25        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD CALL VERSUS JPY PUT                                                         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |   1691000 | NC      | $3.74         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | COP CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   1015000 | NC      | $1.22         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -1691000 | NC      | $-16719.12    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS UNITED MEXICAN STATES                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $61563.70     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | CDS PETROLEOS MEXICANOS                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DCR              | CORP              | US        |         1 | NC      | $708.74       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF ARGENTINA                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $3374.55      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | BRL CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |   1689000 | NC      | $1.37         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS SULTANATE OF OMAN                                                           | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $4808.29      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | INR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-26913.15    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF TURKIYE                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $828952.01    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS ARAB REPUBLIC OF EGYPT                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $349471.27    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS SAFEWAY INC                                                                 | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-163600.94   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS FEDERATIVE REPUBLIC OF BRAZIL                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $227782.19    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF INDONESIA                                                       | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-90509.28    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS CANADIAN IMPERIAL BANK OF COMMERCE                                          | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $1360.68      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | MXN CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   -845000 | NC      | $-17322.17    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | USD CALL VERSUS EUR PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |  -1502000 | NC      | $-6137.53     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS GOVERNMENT OF MALAYSIA                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-76577.61    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/PEN FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $14232.06     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS KINGDOM OF BAHRAIN                                                          | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $97702.20     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | CNH CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  10278000 | NC      | $110.55       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS EUR PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -8304000 | NC      | $-20345.64    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS CLP PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -1691000 | NC      | $-21912.34    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $77978.41     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $241247.43    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | TRS TRSBENCH20 INDEX                                                            | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |         1 | NC      | $117971.99    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $417062.71    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-122682.07   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-399348.93   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS WEATHERFORD INTERNATIONAL LTD                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-120815.94   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $273340.26    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $82873.81     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $358161.75    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $649904.23    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $434843.10    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $586127.38    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-280904.31   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $44940.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS GBP                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $368019.64    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-142917.83   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/CLP FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-10444.96    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | TRS IBOXIG INDEX                                                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-307075.42   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $757423.56    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-47252.21    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-357171.46   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                         | IRS USD                                                                         | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |         1 | NC      | $-384080.88   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA, NATIONAL ASSOCIATION             | TRS TREASURY BOND                                                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-576974.10   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| CLECO CORPORATE HOLDINGS                          | Cleco Corporate Holdings LLC                                                    | CUSIP: 18551PAE9<br>LEI: 5493002H80P81B3HXL31 | Long             | DBT              | CORP              | US        |    295000 | PA      | $272392.13    | 0.02%             | 2029-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                    | Wells Fargo Commercial Mortgage Trust 2021-FCMT                                 | CUSIP: 95003EAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11200000 | PA      | $11005534.40  | 0.98%             | 2031-05-15      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| Laurel Road Prime Student Loan                    | Laurel Road Prime Student Loan Trust 2019-A                                     | CUSIP: 51889RAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    412154 | PA      | $137208.19    | 0.01%             | 2048-10-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                          | Diversified Healthcare Trust                                                    | CUSIP: 81721MAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1557421.03   | 0.14%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/INR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $252843.81    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                  | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1333663.69   | 0.12%             | 2032-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834KP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1295000 | PA      | $570414.25    | 0.05%             | 2041-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 912828U24<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  31600000 | PA      | $30702609.38  | 2.75%             | 2026-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Santander Consumer Auto Receiv                    | Santander Consumer Auto Receivables Trust 2021-A                                | CUSIP: 80282YAH9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $987470.70    | 0.09%             | 2027-03-15      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Impr                    | Goodleap Sustainable Home Solutions Trust 2023-3                                | CUSIP: 38237CAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    420288 | PA      | $391621.66    | 0.04%             | 2055-07-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                        | US Bancorp                                                                      | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   3660000 | PA      | $3501479.17   | 0.31%             | N/A             | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                   | Lamb Weston Holdings Inc                                                        | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    450000 | PA      | $424533.59    | 0.04%             | 2030-01-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BG6<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     25000 | PA      | $24940.00     | 0.00%             | 2028-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                           | United Rentals North America Inc                                                | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $1839846.11   | 0.16%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                | Angolan Government International Bond                                           | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |   2840000 | PA      | $2837337.50   | 0.25%             | 2025-11-12      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                  | THREE-MONTH SOFR                                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -62 | NC      | $-43787.50    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/CLP FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $12818.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179W2W7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    533648 | PA      | $476026.20    | 0.04%             | 2052-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | Barclays PLC                                                                    | CUSIP: 06738EBV6<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1270000 | PA      | $1104224.23   | 0.10%             | 2032-11-24      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418EL57<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1236542 | PA      | $1252800.11   | 0.11%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834LR7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    305000 | PA      | $126506.57    | 0.01%             | 2042-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Trust 2025-ROIC                                                              | CUSIP: 05593VAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1880000 | PA      | $1842400.00   | 0.16%             | 2030-03-15      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                 | Elevation CLO 2021-14 Ltd                                                       | CUSIP: 28623RBG2<br>LEI: 549300JPI8D017HI2768 | Long             | ABS-CBDO         | CORP              | KY        |   5750000 | PA      | $5730738.65   | 0.51%             | 2038-01-20      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| BANGKOK BANK PCL/HK                               | Bangkok Bank PCL/Hong Kong                                                      | CUSIP: 059895AV4<br>LEI: 549300CCL2BKJGMYXV60 | Long             | DBT              | CORP              | TH        |   1185000 | PA      | $1040536.65   | 0.09%             | 2036-09-23      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                               | Medline Borrower LP                                                             | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    975000 | PA      | $919431.34    | 0.08%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179TLS2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    695192 | PA      | $626953.55    | 0.06%             | 2047-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |   2175000 | PA      | $2217481.90   | 0.20%             | 2029-06-26      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | PHP/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $172810.24    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |   1119000 | PA      | $1146975.00   | 0.10%             | 2028-05-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |   3107000 | PA      | $3492564.72   | 0.31%             | 2027-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| GRIFFON CORPORATION                               | Griffon Corp                                                                    | CUSIP: 398433AP7<br>LEI: 5493000C2SGNC7ZN3242 | Long             | DBT              | CORP              | US        |    515000 | PA      | $511622.82    | 0.05%             | 2028-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                           | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    663000 | PA      | $654049.50    | 0.06%             | 2029-02-22      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Santander Bank Auto Credit-Lin                    | Santander Bank Auto Credit-Linked Notes Series 2022-C                           | CUSIP: 80290CBJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17141 | PA      | $17243.39     | 0.00%             | 2032-12-15      | Fixed         | 11.37%                | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                    | Transocean Inc                                                                  | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    235000 | PA      | $229125.00    | 0.02%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                   | Lamb Weston Holdings Inc                                                        | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |    725000 | PA      | $669127.95    | 0.06%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                     | MHC Commercial Mortgage Trust 2021-MHC                                          | CUSIP: 55316VAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2188000 | PA      | $2186632.50   | 0.20%             | 2038-04-15      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| DANA INC                                          | Dana Inc                                                                        | CUSIP: 235825AF3<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |   3015000 | PA      | $2997000.65   | 0.27%             | 2027-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418EKV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4744629 | PA      | $4725156.06   | 0.42%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS CDX.EM.43.V1                                                                | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-2989998.92  | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                          | Organon & Co / Organon Foreign Debt Co-Issuer BV                                | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    525000 | PA      | $441336.34    | 0.04%             | 2031-04-30      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2895000 | PA      | $2703206.25   | 0.24%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RCO Mortgage LLC                                  | RCO VIII Mortgage LLC 2025-3                                                    | CUSIP: 74939GAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2400000 | PA      | $2397037.92   | 0.21%             | 2030-05-25      | Variable      | 6.43%                 | No            |                  2 | On Loan: No      |
| TFS_18-3-A1                                       | TFS_18-3-A1                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | LU        |    210550 | PA      | $178106.45    | 0.02%             | 2026-03-15      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179W2X5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1510685 | PA      | $1389276.80   | 0.12%             | 2052-04-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | Barclays PLC                                                                    | CUSIP: 06738ECY9<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   2865000 | PA      | $2884675.96   | 0.26%             | 2031-02-25      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| CLUE OPCO LLC                                     | Clue Opco LLC                                                                   | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2875000 | PA      | $2958675.33   | 0.26%             | 2031-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                | Viking Cruises Ltd                                                              | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    300000 | PA      | $299844.00    | 0.03%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                          | American Airlines Inc/AAdvantage Loyalty IP Ltd                                 | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1925000 | PA      | $1888559.75   | 0.17%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                  | CUSIP: 10554TAD7<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    262000 | PA      | $215888.00    | 0.02%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | EUR CALL VERSUS MXN PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |  -1531000 | NC      | $-9313.53     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                            | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1605000 | PA      | $1417806.53   | 0.13%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| Bank5                                             | BANK5 2023-5YR3                                                                 | CUSIP: 06211EBE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  11949000 | PA      | $1115433.18   | 0.10%             | 2056-09-15      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| LORCA TELECOM BONDCO                              | Lorca Telecom Bondco SA                                                         | CUSIP: 000000000<br>LEI: 9598004HFBAS82YM7X35 | Long             | DBT              | CORP              | ES        |   1275000 | PA      | $1508625.15   | 0.14%             | 2029-04-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F020661<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2500000 | PA      | $1942053.83   | 0.17%             | 2054-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| LIGHT SERV ELETRICIDADE                           | Light Servicos de Eletricidade SA                                               | CUSIP: 53222MAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | BR        |    315831 | PA      | $70092.37     | 0.01%             | 2037-12-19      | Fixed         | 2.26%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                             | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1000000 | PA      | $1073000.25   | 0.10%             | 2027-04-21      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                     | CoreWeave Inc                                                                   | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    205000 | PA      | $204751.21    | 0.02%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                   | AdaptHealth LLC                                                                 | CUSIP: 00653VAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $296747.69    | 0.03%             | 2028-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                            | Venture Global LNG Inc                                                          | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    695000 | PA      | $657901.74    | 0.06%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                            | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC           | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $188056.30    | 0.02%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/PLN FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $7490.11      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                          | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $507269.81    | 0.05%             | 2032-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| INDO ASAHAN/MINERAL IND                           | Indonesia Asahan Aluminium PT / Mineral Industri Indonesia Persero PT           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | ID        |   1710000 | PA      | $1786950.00   | 0.16%             | 2028-11-15      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                                  | CSC Holdings LLC                                                                | CUSIP: 64072UAM4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | LON              | CORP              | US        |    819323 | PA      | $803960.47    | 0.07%             | 2028-01-18      | Floating      | 8.83%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                  | CUSIP: 629377CQ3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    200000 | PA      | $186871.48    | 0.02%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                           | CUSIP: 25714PDT2<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1740000 | PA      | $1749570.00   | 0.16%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834UB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    170000 | PA      | $50597.18     | 0.00%             | 2048-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP                              | Capstone Copper Corp                                                            | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    155000 | PA      | $155000.00    | 0.01%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                         | ONEOK Inc                                                                       | CUSIP: 682680AT0<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |     25000 | PA      | $20324.16     | 0.00%             | 2047-07-13      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                                  | Bellemeade Re 2021-2 Ltd                                                        | CUSIP: 078777AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     29634 | PA      | $29639.98     | 0.00%             | 2031-09-25      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                      | GS Mortgage Securities Corp Trust 2025-800D                                     | CUSIP: 36273XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2155000 | PA      | $2158628.80   | 0.19%             | 2041-11-25      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $15559.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC                            | Penn Entertainment Inc                                                          | CUSIP: 707569AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3125000 | PA      | $3083716.93   | 0.28%             | 2027-01-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                              | Colombia Government International Bond                                          | CUSIP: 195325EG6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1410000 | PA      | $1398720.00   | 0.13%             | 2034-02-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                          | Ford Motor Credit Co LLC                                                        | CUSIP: 345397B51<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    550000 | PA      | $509150.77    | 0.05%             | 2028-02-16      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                             | Wells Fargo & Co                                                                | CUSIP: 95000U2Q5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $2308485.50   | 0.21%             | 2041-04-30      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 91282CMC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7385000 | PA      | $7538469.53   | 0.67%             | 2031-12-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Ferrellgas Partners LP                            | Ferrellgas Partners LP                                                          | CUSIP: 315293308<br>LEI: 529900YP52A6C5K57L34 | Long             | EC               | CORP              | US        |      4838 | NS      | $628471.68    | 0.06%             |  |  |  | Yes           |                  2 | On Loan: No      |
| FannieMaeorFreddieMac                             | FannieMaeorFreddieMac                                                           | CUSIP: 01F042673<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |  -1000000 | PA      | $-942700.79   | -0.08%            | 2055-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140XCCM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10924218 | PA      | $8973927.61   | 0.80%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                  | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   3525000 | PA      | $3197679.83   | 0.29%             | 2031-02-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWEB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2190787 | PA      | $2070553.93   | 0.19%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | BRL/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $22133.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HECLA MINING CO                                   | Hecla Mining Co                                                                 | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502629.45    | 0.04%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DSX31<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2055749 | PA      | $2022796.54   | 0.18%             | 2050-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418EDE7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5526283 | PA      | $4908804.61   | 0.44%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LIMA METRO LINE 2 FIN LT                          | Lima Metro Line 2 Finance Ltd                                                   | CUSIP: 000000000<br>LEI: 5493009BVQNQT1UKQ352 | Long             | DBT              | CORP              | KY        |     79532 | PA      | $79694.15     | 0.01%             | 2034-07-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140XF7L9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   5135439 | PA      | $4409401.35   | 0.39%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                          | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBE2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    810000 | PA      | $524853.88    | 0.05%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                          | Diversified Healthcare Trust                                                    | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1650444.49   | 0.15%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140QLJG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    952532 | PA      | $851160.34    | 0.08%             | 2051-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Government National Mortgage Association                                        | CUSIP: 38379WM25<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2747725 | PA      | $2423414.22   | 0.22%             | 2046-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PGIM Floating Rate Income ETF                     | PGIM Floating Rate Income ETF                                                   | CUSIP: 69344A883<br>LEI: 549300CYXIT4H0WK8H76 | Long             | EC               | RF                | US        |     50000 | NS      | $2496500.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS CLEVELAND-CLIFFS INC                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-34606.70    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PHINIA INC                                        | Phinia Inc                                                                      | CUSIP: 71880KAA9<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |    200000 | PA      | $204710.32    | 0.02%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                  | CUSIP: 61744YAP3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3780000 | PA      | $3699126.33   | 0.33%             | 2029-01-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                             | Civitas Resources Inc                                                           | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201482.41    | 0.02%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| DIAMOND SPORTS GRP LLC- WARRANTS                  | DIAMOND SPORTS GRP LLC- WARRANTS                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70583 | NS      | $18542.17     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                       | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   1172000 | PA      | $1171470.24   | 0.10%             | 2032-01-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                        | Affirm Asset Securitization Trust 2024-A                                        | CUSIP: 00834BAK3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    900000 | PA      | $909169.11    | 0.08%             | 2029-02-15      | Fixed         | 9.17%                 | No            |                  2 | On Loan: No      |
| GENON HLDGS CLASS A                               | GENON HLDGS CLASS A                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       677 | NS      | $20310.00     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Fanniemae Strip                                   | Fannie Mae Interest Strip                                                       | CUSIP: 31397VSJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2326320 | PA      | $256072.42    | 0.02%             | 2035-11-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                   | AdaptHealth LLC                                                                 | CUSIP: 00653VAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1247547.70   | 0.11%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ITALY GOV'T INT BOND                              | Republic of Italy Government International Bond                                 | CUSIP: 465410BG2<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |   1907000 | PA      | $1954442.35   | 0.17%             | 2033-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS SIMON PROPERTY GROUP LP                                                     | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $39825.47     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PERUSAHAAN LISTRIK NEGAR                          | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara                       | CUSIP: 000000000<br>LEI: 254900OYVDRYS9J51J61 | Long             | DBT              | CORP              | ID        |   1106000 | PA      | $1082355.54   | 0.10%             | 2031-11-05      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| KB HOME                                           | KB Home                                                                         | CUSIP: 48666KAZ2<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |    615000 | PA      | $557366.58    | 0.05%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834FB9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5135000 | PA      | $2466019.15   | 0.22%             | 2040-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                              | CUSIP: 29273VAM2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $2917227.70   | 0.26%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                  | Puget Energy Inc                                                                | CUSIP: 745310AK8<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |   4130000 | PA      | $3931704.07   | 0.35%             | 2030-06-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWBZ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1385754 | PA      | $1136293.59   | 0.10%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                              | BlueMountain CLO XXV Ltd                                                        | CUSIP: 09627FBE9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $5993519.40   | 0.54%             | 2038-01-15      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| Fidelity Grand Harbour CLO                        | Fidelity Grand Harbour CLO 2021-1 DAC                                           | CUSIP: 000000000<br>LEI: 635400KPYNGCFZ6MDR25 | Long             | ABS-CBDO         | CORP              | IE        |   9000000 | PA      | $10228864.38  | 0.92%             | 2034-10-15      | Floating      | 4.03%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418D2K7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3384208 | PA      | $2495872.17   | 0.22%             | 2051-07-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418DQH8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2622426 | PA      | $2164930.12   | 0.19%             | 2050-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | ZAR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $77985.80     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 912810QZ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4825000 | PA      | $3800441.41   | 0.34%             | 2043-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 91282CHT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  34500000 | PA      | $33567421.88  | 3.00%             | 2033-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| LIGHT SERV ELETRICIDADE                           | Light Servicos de Eletricidade SA                                               | CUSIP: 53222MAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | BR        |    759679 | PA      | $391234.69    | 0.04%             | 2032-12-19      | Fixed         | 4.21%                 | No            |                  2 | On Loan: No      |
| 20 TSQ GroundCo LLC                               | 20 Times Square Trust 2018-20TS                                                 | CUSIP: 90137LAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $73500.00     | 0.01%             | 2035-05-15      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                             | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    146000 | PA      | $152611.82    | 0.01%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                            | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1330467.37   | 0.12%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| FannieMaeorFreddieMac                             | FannieMaeorFreddieMac                                                           | CUSIP: 01F040677<br>LEI: B1V7KEBTPIMZEU4LTD58 | Short            | ABS-MBS          | USGSE             | US        |  -7000000 | PA      | $-6411115.48  | -0.57%            | 2054-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/F                    | Ford Credit Auto Owner Trust 2023-REV2                                          | CUSIP: 34535CAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $1241351.76   | 0.11%             | 2036-02-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                            | BP Capital Markets PLC                                                          | CUSIP: 05565QDU9<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    638000 | PA      | $634810.00    | 0.06%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                              | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    655000 | PA      | $653862.56    | 0.06%             | N/A             | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | SWOP IRS USD                                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              | CORP              | US        |   3415000 | OU      | $5370.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | SWOP CDS CDX.NA.HY.44.V1                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |  -5490000 | OU      | $-7540.61     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                         | Towd Point Mortgage Trust 2025-CES1                                             | CUSIP: 89183HAE4<br>LEI: 254900FMI2GPXLO84795 | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $2199975.80   | 0.20%             | 2055-02-25      | Variable      | 6.87%                 | No            |                  3 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140X9X75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1684171 | PA      | $1388338.38   | 0.12%             | 2051-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                  | CUSIP: 10554TAH8<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |   4215000 | PA      | $4036284.00   | 0.36%             | 2031-01-12      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                             | Civitas Resources Inc                                                           | CUSIP: 17888HAC7<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197489.93    | 0.02%             | 2030-11-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Bilbao CLO                                        | Bilbao CLO IV DAC                                                               | CUSIP: 000000000<br>LEI: 549300PSOBYVOTLZRS47 | Long             | ABS-CBDO         | CORP              | IE        |   5900000 | PA      | $6706126.14   | 0.60%             | 2036-04-15      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                               | United Airlines Inc                                                             | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    850000 | PA      | $840433.20    | 0.08%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| TOTAL PLAY TELECOM                                | Total Play Telecomunicaciones SA de CV                                          | CUSIP: 89157PAD0<br>LEI: 4469000001BSAPAMOQ06 | Long             | DBT              | CORP              | MX        |   1899500 | PA      | $1775234.71   | 0.16%             | 2032-12-31      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| CARVANA CO                                        | Carvana Co                                                                      | CUSIP: 146869AL6<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    257825 | PA      | $265030.30    | 0.02%             | 2028-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179WBY3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2361362 | PA      | $1979214.68   | 0.18%             | 2051-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834JH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    580000 | PA      | $265884.35    | 0.02%             | 2040-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TRY PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   1691000 | NC      | $1700.51      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834PT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    155000 | PA      | $53808.43     | 0.00%             | 2045-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                            | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC           | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1775000 | PA      | $1757581.24   | 0.16%             | 2027-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| DIGICEL GROUP HOLDINGS                            | Digicel Group Holdings Ltd                                                      | CUSIP: 25381HAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    127027 | PA      | $12.70        | 0.00%             | 2030-12-31      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                             | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    162000 | PA      | $170718.83    | 0.02%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                      | Novelis Corp                                                                    | CUSIP: 670001AG1<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1471321.16   | 0.13%             | 2026-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Government National Mortgage Association                                        | CUSIP: 38382BLB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    635318 | PA      | $105735.77    | 0.01%             | 2049-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                           | CUSIP: 25714PEZ7<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1800000 | PA      | $1791000.00   | 0.16%             | 2036-06-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                               | Affirm Master Trust                                                             | CUSIP: 00833BAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2497680.00   | 0.22%             | 2033-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| KB HOME                                           | KB Home                                                                         | CUSIP: 48666KAX7<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |    941000 | PA      | $966014.09    | 0.09%             | 2027-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| FREEDOM MORTGAGE HOLD                             | Freedom Mortgage Holdings LLC                                                   | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    220000 | PA      | $217974.10    | 0.02%             | 2032-04-01      | Fixed         | 8.38%                 | Yes           |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | EUR CALL VERSUS TRY PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -1537000 | NC      | $-12054.91    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                               | United Airlines Inc                                                             | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    400000 | PA      | $379846.99    | 0.03%             | 2029-04-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                  | CUSIP: 6174468G7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5453987.37   | 0.49%             | 2030-01-23      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS CO                                 | General Motors Co                                                               | CUSIP: 37045VAP5<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1127300.75   | 0.10%             | 2038-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F052664<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  14000000 | PA      | $13858760.86  | 1.24%             | 2055-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                             | CUSIP: 71654QCP5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    100000 | PA      | $95379.00     | 0.01%             | 2029-01-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                          | Benchmark 2024-V5 Mortgage Trust                                                | CUSIP: 08163XAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  13473000 | PA      | $1254178.67   | 0.11%             | 2057-01-10      | Variable      | 2.97%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                  | Societe Generale SA                                                             | CUSIP: 83368RBD3<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    745000 | PA      | $645162.48    | 0.06%             | 2032-06-09      | Fixed         | 2.89%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                         | BPR Trust 2023-BRK2                                                             | CUSIP: 05610WAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3800000 | PA      | $3984282.14   | 0.36%             | 2038-10-05      | Variable      | 8.34%                 | No            |                  2 | On Loan: No      |
| Carlyle Euro CLO                                  | Carlyle Euro CLO 2021-2 DAC                                                     | CUSIP: 000000000<br>LEI: 635400GXUD5SKWFXE966 | Long             | ABS-CBDO         | CORP              | IE        |   9100000 | PA      | $9683103.58   | 0.87%             | 2035-10-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Island Finance Trust 2025-1                       | Island Finance Trust 2025-1                                                     | CUSIP: 463920AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1000000 | PA      | $1013208.70   | 0.09%             | 2035-03-19      | Fixed         | 6.54%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/INR FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-24022.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AKER BP ASA                                       | Aker BP ASA                                                                     | CUSIP: 00973RAJ2<br>LEI: 549300NFTY73920OYK69 | Long             | DBT              | CORP              | NO        |    150000 | PA      | $138960.57    | 0.01%             | 2031-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                        | Carvana Co                                                                      | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    800000 | PA      | $843251.09    | 0.08%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HUNT COS INC                                      | Hunt Cos Inc                                                                    | CUSIP: 445587AE8<br>LEI: 549300ODPWDNCH5TKM49 | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1893963.03   | 0.17%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                              | Taylor Morrison Communities Inc                                                 | CUSIP: 87724RAA0<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    400000 | PA      | $403359.58    | 0.04%             | 2027-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                           | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl    | CUSIP: 019579AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    680000 | PA      | $649325.20    | 0.06%             | 2028-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| STIFEL FINANCIAL CORP                             | Stifel Financial Corp                                                           | CUSIP: 860630AG7<br>LEI: 549300E5F07FE5GHJX84 | Long             | DBT              | CORP              | US        |   6525000 | PA      | $6197507.11   | 0.55%             | 2030-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWAW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    522686 | PA      | $409988.40    | 0.04%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179VZQ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    685483 | PA      | $550803.71    | 0.05%             | 2050-12-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                            | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc              | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $816593.64    | 0.07%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                          | Vistra Operations Co LLC                                                        | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    405000 | PA      | $403987.80    | 0.04%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/THB FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-88276.31    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                            | CUSIP: 06051GHZ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2935000 | PA      | $2649578.24   | 0.24%             | 2031-02-13      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| H&E EQUIPMENT SERVICES                            | H&E Equipment Services Inc                                                      | CUSIP: 404030AJ7<br>LEI: 254900KVLRCDMQRYY541 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1489292.75   | 0.13%             | 2028-12-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| STAR LEASING CO LLC                               | Star Leasing Co LLC                                                             | CUSIP: 854938AA5<br>LEI: 549300WXKNX4PT3HSN71 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1204841.43   | 0.11%             | 2030-02-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R08                                    | CUSIP: 20755DAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $538703.55    | 0.05%             | 2042-07-25      | Floating      | 9.92%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                    | PRET 2025-NPL5 LLC                                                              | CUSIP: 74143LAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4000000 | PA      | $3998794.00   | 0.36%             | 2055-05-25      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                            | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HAY4<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    875000 | PA      | $815451.88    | 0.07%             | 2030-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| 20 TSQ GroundCo LLC                               | 20 Times Square Trust 2018-20TS                                                 | CUSIP: 90137LAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $3925000.00   | 0.35%             | 2035-05-15      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| PMT CREDIT RISK TRANSFER TRUST                    | PMT Credit Risk Transfer Trust 2024-3R                                          | CUSIP: 69392AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3865012 | PA      | $3850427.72   | 0.34%             | 2028-09-27      | Floating      | 7.41%                 | No            |                  2 | On Loan: No      |
| LD CELULOSE INTERNATIONA                          | LD Celulose International GmbH                                                  | CUSIP: 50206BAA0<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |   1615000 | PA      | $1664863.13   | 0.15%             | 2032-01-26      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                             | Truist Financial Corp                                                           | CUSIP: 89832QAD1<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    710000 | PA      | $707877.05    | 0.06%             | N/A             | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10961.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Blackstone Mortgage Trust Inc                     | BLACKSTONE MORTGAGE TR                                                          | CUSIP: 09259GAG8<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | LON              | CORP              | US        |    568286 | PA      | $564023.87    | 0.05%             | 2028-12-10      | Floating      | 8.08%                 | No            |                  3 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3133AADG4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11416821 | PA      | $9408987.63   | 0.84%             | 2050-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                          | Univision Communications Inc                                                    | CUSIP: 914906AU6<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   1875000 | PA      | $1875439.52   | 0.17%             | 2027-06-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R07                                    | CUSIP: 20754MAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $550252.10    | 0.05%             | 2042-06-25      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140XG7B9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2115455 | PA      | $1955869.47   | 0.18%             | 2047-07-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| INGLES MARKETS INC                                | Ingles Markets Inc                                                              | CUSIP: 457030AK0<br>LEI: 549300XH5RYBMYP8TF26 | Long             | DBT              | CORP              | US        |    150000 | PA      | $137187.08    | 0.01%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                           | Sasol Financing USA LLC                                                         | CUSIP: 80386WAC9<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    730000 | PA      | $711750.00    | 0.06%             | 2026-09-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                           | MPT Operating Partnership LP / MPT Finance Corp                                 | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $51280.02     | 0.00%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $48005.34     | 0.00%             | 2045-10-23      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                          | Vistra Operations Co LLC                                                        | CUSIP: 92840VAG7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   3105000 | PA      | $3047060.34   | 0.27%             | 2027-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS STANDARD BUILDING SOLUTIONS INC                                             | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-157871.93   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWDK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2112842 | PA      | $1800789.74   | 0.16%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418DXJ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2685988 | PA      | $1981313.87   | 0.18%             | 2051-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| EMBRAER NETHERLANDS FINA                          | Embraer Netherlands Finance BV                                                  | CUSIP: 29082HAD4<br>LEI: 724500PBR8LR26XBSP67 | Long             | DBT              | CORP              | NL        |   1865000 | PA      | $1976060.75   | 0.18%             | 2030-07-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                          | Brookfield Residential Properties Inc / Brookfield Residential US LLC           | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1325000 | PA      | $1152750.00   | 0.10%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                              | OneMain Finance Corp                                                            | CUSIP: 682691AA8<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    750000 | PA      | $675101.93    | 0.06%             | 2030-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                    | Bombardier Inc                                                                  | CUSIP: 097751BX8<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   2750000 | PA      | $2743125.00   | 0.25%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140XPNV7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1708822 | PA      | $1682214.97   | 0.15%             | 2050-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JERROLD FINCO PLC                                 | Jerrold Finco PLC                                                               | CUSIP: 000000000<br>LEI: 213800F7AYNHLL1BPR31 | Long             | DBT              | CORP              | GB        |   2075000 | PA      | $2804585.82   | 0.25%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Invitation Homes Trust                            | Invitation Homes 2024-SFR1 Trust                                                | CUSIP: 46188DAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1800000 | PA      | $1716923.70   | 0.15%             | 2041-09-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Doncasters US Finance LLC                         | DONCASTERS US FIN LLC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $271350.00    | 0.02%             | 2030-04-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Citibank, National Association                    | EUR/PLN FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2573.94     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                  | MGM Resorts International                                                       | CUSIP: 552953CF6<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250369.41    | 0.02%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                           | ONE 2021-PARK Mortgage Trust                                                    | CUSIP: 682413AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    772000 | PA      | $738933.31    | 0.07%             | 2036-03-15      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834MZ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2245000 | PA      | $866498.56    | 0.08%             | 2043-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834KV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3285000 | PA      | $1423312.29   | 0.13%             | 2041-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                    | Bombardier Inc                                                                  | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   2577000 | PA      | $2580221.25   | 0.23%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| JACOBS ENTERTAINMENT INC                          | Jacobs Entertainment Inc                                                        | CUSIP: 469815AL8<br>LEI: 5493004U9JIWY3HSUO63 | Long             | DBT              | CORP              | US        |    350000 | PA      | $331527.64    | 0.03%             | 2029-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Net, LLC                           | DIAMOND SPORTS NET LLC                                                          | CUSIP: 25277EAB8<br>LEI: 549300MPO5H6LGX4RJ82 | Long             | LON              | CORP              | US        |    250222 | PA      | $224574.06    | 0.02%             | 2028-01-02      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834LX4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    320000 | PA      | $130742.53    | 0.01%             | 2042-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                            | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc              | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $46885.17     | 0.00%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                          | First Quantum Minerals Ltd                                                      | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    210000 | PA      | $220500.00    | 0.02%             | 2029-03-01      | Fixed         | 9.38%                 | Yes           |                  2 | On Loan: No      |
| Citibank, National Association                    | MXN/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $191216.84    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                   | Gen Digital Inc                                                                 | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    266000 | PA      | $269043.69    | 0.02%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                          | Vistra Operations Co LLC                                                        | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    225000 | PA      | $217561.63    | 0.02%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418DVB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2786361 | PA      | $2055878.04   | 0.18%             | 2050-12-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140XJNF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3316898 | PA      | $3232511.55   | 0.29%             | 2050-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                          | Brookfield Residential Properties Inc / Brookfield Residential US LLC           | CUSIP: 11283YAG5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1200000 | PA      | $1068000.00   | 0.10%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Digicel International Finance Ltd                 | DLLTD PIK-TERM B 1L USD                                                         | CUSIP: 000000000<br>LEI: 5493007V023VOEW4FK27 | Long             | LON              | CORP              | LC        |   1677745 | PA      | $1666559.57   | 0.15%             | 2027-05-25      | Floating      | 11.78%                | No            |                  2 | On Loan: No      |
| Lugo Funding DAC                                  | Lugo Funding DAC                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |   1200000 | PA      | $1316112.81   | 0.12%             | 2066-05-26      | Floating      | 4.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWBC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1744458 | PA      | $1429831.29   | 0.13%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                          | Permian Resources Operating LLC                                                 | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    650000 | PA      | $662627.60    | 0.06%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                          | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp              | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1375000 | PA      | $815211.26    | 0.07%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | BRL/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $132641.12    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                    | BBCMS 2016-ETC Mortgage Trust                                                   | CUSIP: 05491LAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $222937.38    | 0.02%             | 2036-08-14      | Variable      | 3.61%                 | No            |                  2 | On Loan: No      |
| Radnor Re LTD                                     | Radnor RE 2021-2 Ltd                                                            | CUSIP: 75049GAB5<br>LEI: 254900JO0CMUL2VM8206 | Long             | ABS-MBS          | CORP              | BM        |   2094177 | PA      | $2127458.34   | 0.19%             | 2031-11-25      | Floating      | 8.02%                 | Yes           |                  2 | On Loan: No      |
| VISTRA CORP                                       | Vistra Corp                                                                     | CUSIP: 92840MAB8<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   3125000 | PA      | $3199088.45   | 0.29%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                            | Orbia Advance Corp SAB de CV                                                    | CUSIP: 68560EAC2<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |   1560000 | PA      | $1568892.00   | 0.14%             | 2030-05-13      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179WLP1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1668168 | PA      | $1398202.70   | 0.13%             | 2051-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                      | New Gold Inc                                                                    | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |    105000 | PA      | $107387.70    | 0.01%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HCA INC                                           | HCA Inc                                                                         | CUSIP: 19767QAS4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1721681.23   | 0.15%             | 2036-07-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MYLAN INC                                         | Mylan Inc                                                                       | CUSIP: 628530BC0<br>LEI: 30ZMPDNA1RHIBH89C294 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2382889.02   | 0.21%             | 2043-11-29      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                          | Enterprise Products Operating LLC                                               | CUSIP: 29379VBM4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198121.81    | 0.02%             | 2077-08-16      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 912810SK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9600000 | PA      | $6024000.00   | 0.54%             | 2049-11-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | SWOP IRS USD                                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              | CORP              | US        |  -6830000 | OU      | $-2194.71     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TWD PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   3392000 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418D7G1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  10012978 | PA      | $8575598.15   | 0.77%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F022675<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3000000 | PA      | $2443790.13   | 0.22%             | 2055-07-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                  | Vmed O2 UK Financing I PLC                                                      | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    550000 | PA      | $689391.84    | 0.06%             | 2029-01-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DIGICEL INTL FIN LTD                              | DIGICEL INTL FIN LTD                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7553 | NS      | $87986.41     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Mcafee Corp                                       | MCAFEE CORP                                                                     | CUSIP: 57906HAF4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |   1702868 | PA      | $1632198.75   | 0.15%             | 2029-03-01      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                          | Suburban Propane Partners LP/Suburban Energy Finance Corp                       | CUSIP: 864486AK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1850000 | PA      | $1846976.94   | 0.17%             | 2027-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                            | VICI Properties LP / VICI Note Co Inc                                           | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    345000 | PA      | $341169.82    | 0.03%             | 2026-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2025-2 LLC                                                                 | CUSIP: 69382HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $1197551.52   | 0.11%             | 2030-05-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                               | Intesa Sanpaolo SpA                                                             | CUSIP: 46115HBQ9<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    700000 | PA      | $629683.88    | 0.06%             | 2032-06-01      | Fixed         | 4.20%                 | Yes           |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418D6D9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    907909 | PA      | $776595.82    | 0.07%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1051.34     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VISTRA CORP                                       | Vistra Corp                                                                     | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |    875000 | PA      | $885584.03    | 0.08%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                              | OneMain Finance Corp                                                            | CUSIP: 682691AC4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1690957.51   | 0.15%             | 2028-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Tenneco Inc                                       | TENNECO INC                                                                     | CUSIP: 88037HAN4<br>LEI: 549300U0EXXFAQFAD785 | Long             | LON              | CORP              | US        |    388906 | PA      | $375050.80    | 0.03%             | 2028-11-17      | Floating      | 9.17%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                  | MGM Resorts International                                                       | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1467173.72   | 0.13%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                            | CUSIP: 06051GHV4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $942324.23    | 0.08%             | 2030-07-23      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179VSG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    922544 | PA      | $774527.09    | 0.07%             | 2050-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                           | CUSIP: 527298BV4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |   2845637 | PA      | $3234374.60   | 0.29%             | 2029-11-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                           | CUSIP: 25714PEP9<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |   1635000 | PA      | $1612927.50   | 0.14%             | 2029-02-22      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                            | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    496000 | PA      | $501384.61    | 0.04%             | 2026-08-20      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| DAVITA INC                                        | DaVita Inc                                                                      | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2338366.94   | 0.21%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | PEN/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-68591.72    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2020-DNA6                                         | CUSIP: 35566CBD6<br>LEI: 5493000ITBQFEOXM0S98 | Long             | ABS-MBS          | USGSE             | US        |   3240000 | PA      | $3465780.05   | 0.31%             | 2050-12-25      | Floating      | 7.32%                 | Yes           |                  2 | On Loan: No      |
| AUTONATION INC                                    | AutoNation Inc                                                                  | CUSIP: 05329WAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1880000 | PA      | $1847563.63   | 0.17%             | 2030-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                            | Williams Cos Inc/The                                                            | CUSIP: 96950FAP9<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |     76000 | PA      | $64967.99     | 0.01%             | 2045-01-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R08                                    | CUSIP: 20755DAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    635000 | PA      | $662387.55    | 0.06%             | 2042-07-25      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| Park Avenue Institutional Advi                    | Park Avenue Institutional Advisers CLO Ltd 2019-2                               | CUSIP: 70018AAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  15000000 | PA      | $15017403.00  | 1.34%             | 2034-10-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                  | Allied Universal Holdco LLC / Allied Universal Finance Corp                     | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2825000 | PA      | $2672810.66   | 0.24%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                       | CUSIP: 221625AT3<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   1865000 | PA      | $1797468.35   | 0.16%             | 2033-01-30      | Fixed         | 7.62%                 | Yes           |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                            | VICI Properties LP / VICI Note Co Inc                                           | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $276558.95    | 0.02%             | 2029-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                   | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    605000 | PA      | $599010.69    | 0.05%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307AS6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    225000 | PA      | $204930.40    | 0.02%             | 2028-02-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF CHILE                                                           | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-124715.98   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                           | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl    | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    420000 | PA      | $401100.00    | 0.04%             | 2028-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Level 3 Financing Inc                             | LEVEL 3 FINANCING INC                                                           | CUSIP: 52729KAT3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | LON              | CORP              | US        |    825000 | PA      | $829331.25    | 0.07%             | 2032-03-27      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                    | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137FQKQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        | 147177693 | PA      | $3565924.17   | 0.32%             | 2029-11-25      | Variable      | 0.63%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                          | Sally Holdings LLC / Sally Capital Inc                                          | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $254043.66    | 0.02%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                       | Asurion LLC                                                                     | CUSIP: 04649VBC3<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    691126 | PA      | $688707.20    | 0.06%             | 2028-08-21      | Floating      | 8.68%                 | Yes           |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                    | ARES Trust 2025-IND3                                                            | CUSIP: 039955AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1130000 | PA      | $1129293.75   | 0.10%             | 2042-04-15      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| ALTA EQUIPMENT GROUP                              | Alta Equipment Group Inc                                                        | CUSIP: 02128LAC0<br>LEI: 549300DGOB28CLGS1X27 | Long             | DBT              | CORP              | US        |    440000 | PA      | $387213.73    | 0.03%             | 2029-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R03                                    | CUSIP: 20753XAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1081442.90   | 0.10%             | 2042-03-25      | Floating      | 10.57%                | No            |                  2 | On Loan: No      |
| TEACHERS INSUR & ANNUITY                          | Teachers Insurance & Annuity Association of America                             | CUSIP: 878091BD8<br>LEI: O06XD7BJ4EPXNABVFN69 | Long             | DBT              | CORP              | US        |     75000 | PA      | $65842.11     | 0.01%             | 2044-09-15      | Fixed         | 4.90%                 | Yes           |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                           | CUSIP: 527298BU6<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    545000 | PA      | $596233.52    | 0.05%             | 2030-05-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: —       |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.       | US 5YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      1749 | NC      | $860333.99    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVISION COMMUNICATIONS                          | Univision Communications Inc                                                    | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    625000 | PA      | $625448.36    | 0.06%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                  | Societe Generale SA                                                             | CUSIP: 83368RBJ0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   2580000 | PA      | $2252770.86   | 0.20%             | 2033-01-21      | Fixed         | 3.34%                 | Yes           |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834UH9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    480000 | PA      | $141053.78    | 0.01%             | 2049-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                        | DaVita Inc                                                                      | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    100000 | PA      | $88552.90     | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                          | 1011778 BC ULC / New Red Finance Inc                                            | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1350000 | PA      | $1241595.00   | 0.11%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BOF URSA FUNDING                                  | Bayview Opportunity Master Fund VII Trust 2024-CAR1F                            | CUSIP: 07336MAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    446277 | PA      | $445971.64    | 0.04%             | 2032-07-29      | Fixed         | 6.97%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 912810SE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3825000 | PA      | $2957800.78   | 0.26%             | 2048-11-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                  | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1275000 | PA      | $1259876.07   | 0.11%             | 2029-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FannieMaeorFreddieMac                             | FannieMaeorFreddieMac                                                           | CUSIP: 01F020679<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  11500000 | PA      | $8938389.03   | 0.80%             | 2055-07-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                | Ford Motor Co                                                                   | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    875000 | PA      | $722178.25    | 0.06%             | 2032-02-12      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| LLC BNY MELLON CAPITAL MARKETS, LLC               | USD/KRW FORWARD                                                                 | CUSIP: 000000000<br>LEI: VJW2DOOHGDT6PR0ZRO63 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-309679.10   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                  | Beazer Homes USA Inc                                                            | CUSIP: 07556QBT1<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |   3233000 | PA      | $3196148.76   | 0.29%             | 2029-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Intelsat SA/Luxembourg                            | Intelsat SA/Luxembourg                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34637 | NS      | $1434196.94   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179XDD5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2497994 | PA      | $2297998.48   | 0.21%             | 2052-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWDF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    357684 | PA      | $319259.34    | 0.03%             | 2052-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                          | Madison Park Funding XXIX LTD                                                   | CUSIP: 55820CBA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3990527.20   | 0.36%             | 2038-03-25      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                     | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1415000 | PA      | $1371675.82   | 0.12%             | N/A             | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp                                                            | CUSIP: 06051GHX0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2269514.57   | 0.20%             | 2030-10-22      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ACCO BRANDS CORP                                  | ACCO Brands Corp                                                                | CUSIP: 00081TAK4<br>LEI: JCT8P4Y190IH4I1NX328 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1301121.22   | 0.12%             | 2029-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| 20 TSQ GroundCo LLC                               | 20 Times Square Trust 2018-20TS                                                 | CUSIP: 90137LAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4900000 | PA      | $3920000.00   | 0.35%             | 2035-05-15      | Variable      | 3.10%                 | Yes           |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | Barclays PLC                                                                    | CUSIP: 06738ECE3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1375000 | PA      | $1530807.85   | 0.14%             | 2033-11-02      | Fixed         | 7.44%                 | No            |                  2 | On Loan: No      |
| THE TORONTO-DOMINION BANK                         | COP/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: PT3QB789TSUIDF371261 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3855.46      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA INC                                           | HCA Inc                                                                         | CUSIP: 404119BS7<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200378.53    | 0.02%             | 2026-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                              | Chart Industries Inc                                                            | CUSIP: 16115QAF7<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |    125000 | PA      | $130624.73    | 0.01%             | 2030-01-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                                  | Beazer Homes USA Inc                                                            | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123604.18    | 0.01%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    508000 | PA      | $422402.00    | 0.04%             | 2030-12-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWFH1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1749485 | PA      | $1737199.69   | 0.16%             | 2052-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                  | CUSIP: 629377CE0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    225000 | PA      | $225708.32    | 0.02%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                           | CUSIP: 527298BX0<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    175000 | PA      | $197248.47    | 0.02%             | 2029-04-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    400000 | PA      | $378905.59    | 0.03%             | 2027-04-15      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| AT&T INC                                          | AT&T Inc                                                                        | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    781000 | PA      | $534803.69    | 0.05%             | 2057-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                 | Battalion CLO 18 Ltd                                                            | CUSIP: 07134QAQ9<br>LEI: 549300WYAEH0STKIKE49 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3010470.60   | 0.27%             | 2036-10-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/PHP FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-907.94      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                              | Taylor Morrison Communities Inc                                                 | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |    530000 | PA      | $516732.22    | 0.05%             | 2030-08-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DCLI BIDCO LLC                                    | Dcli Bidco LLC                                                                  | CUSIP: 233104AA6<br>LEI: 2549007UUVJTHHNK9T70 | Long             | DBT              | CORP              | US        |    960000 | PA      | $965943.08    | 0.09%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418DXL1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2733661 | PA      | $2242617.92   | 0.20%             | 2051-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BELLEMEADE RE LT                                  | Bellemeade Re Ltd                                                               | CUSIP: 078915AB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   1750000 | PA      | $1769816.65   | 0.16%             | 2034-08-25      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| ONE Park Mortgage Trust                           | ONE 2021-PARK Mortgage Trust                                                    | CUSIP: 682413AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    400000 | PA      | $372522.48    | 0.03%             | 2036-03-15      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                         | Boeing Co/The                                                                   | CUSIP: 097023CM5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $1002357.03   | 0.09%             | 2027-02-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH                           | International Game Technology PLC                                               | CUSIP: 460599AD5<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    325000 | PA      | $327437.50    | 0.03%             | 2027-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                    | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137F2LL8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   6884527 | PA      | $81038.46     | 0.01%             | 2027-06-25      | Variable      | 0.73%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                     | DISH DBS Corp                                                                   | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4570000 | PA      | $3930946.80   | 0.35%             | 2026-07-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140J5VG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    529168 | PA      | $526556.67    | 0.05%             | 2044-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS UNITED STATES OF AMERICA                                                    | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-192.09      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418EM23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2468743 | PA      | $2504924.83   | 0.22%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PGIM Institutional Money Market Fund - D          | PGIM Institutional Money Market Fund - D                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   9648445 | NS      | $9641691.36   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                          | Clarios Global LP / Clarios US Finance Co                                       | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |     50000 | PA      | $50750.00     | 0.00%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PREEM HOLDING AB                                  | Preem Holdings AB                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | SE        |   2000000 | PA      | $2344704.25   | 0.21%             | 2027-06-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| YAMANA GOLD INC                                   | Yamana Gold Inc                                                                 | CUSIP: 98462YAF7<br>LEI: 54930002VY22NXG01418 | Long             | DBT              | CORP              | CA        |   5000000 | PA      | $4357160.50   | 0.39%             | 2031-08-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                          | Brookfield Residential Properties Inc / Brookfield Residential US LLC           | CUSIP: 11283YAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    275000 | PA      | $270187.50    | 0.02%             | 2027-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                     | NYC Commercial Mortgage Trust 2025-3BP                                          | CUSIP: 67120UAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2110000 | PA      | $2066866.11   | 0.18%             | 2042-02-15      | Floating      | 7.87%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                            | Pacific Gas and Electric Co                                                     | CUSIP: 694308JT5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1463210.37   | 0.13%             | 2031-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BELLIS FINCO PLC                                  | Bellis Finco PLC                                                                | CUSIP: 000000000<br>LEI: 259400ELWH6Z4ICFTD70 | Long             | DBT              | CORP              | GB        |   3500000 | PA      | $4591229.86   | 0.41%             | 2027-02-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHWEST AIRLINES CO                             | Southwest Airlines Co                                                           | CUSIP: 844741BK3<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    695000 | PA      | $699306.72    | 0.06%             | 2027-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                 | EURO-BUND                                                                       | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -45 | NC      | $58715.08     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                           | MPT Operating Partnership LP / MPT Finance Corp                                 | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $393248.00    | 0.04%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                        | BFLD 2024-VICT Mortgage Trust                                                   | CUSIP: 05555VAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1700000 | PA      | $1694687.50   | 0.15%             | 2041-07-15      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWCP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7853410 | PA      | $6418792.42   | 0.57%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Nassau Euro CLO DAC                               | Nassau Euro CLO II DAC                                                          | CUSIP: 000000000<br>LEI: 549300Z3XUKK0APT1D50 | Long             | ABS-CBDO         | CORP              | IE        |   5500000 | PA      | $6227570.25   | 0.56%             | 2039-04-25      | Floating      | 4.06%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Tru                    | OneMain Financial Issuance Trust 2023-2                                         | CUSIP: 68269HAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2600000 | PA      | $2675640.24   | 0.24%             | 2036-09-15      | Fixed         | 7.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179X5J1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    988024 | PA      | $1003601.94   | 0.09%             | 2053-06-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                             | Tenet Healthcare Corp                                                           | CUSIP: 88033GDR8<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    875000 | PA      | $836164.66    | 0.07%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                            | Millicom International Cellular SA                                              | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    720000 | PA      | $640800.00    | 0.06%             | 2031-04-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                           | CUSIP: 071734AL1<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   4025000 | PA      | $2133250.00   | 0.19%             | 2031-02-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                           | Mong Duong Finance Holdings BV                                                  | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |    863941 | PA      | $837115.46    | 0.07%             | 2029-05-07      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | SWOP IRS USD                                                                    | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              | CORP              | DE        |  -3370000 | OU      | $-10628.79    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/CLP FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $18.62        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                     | B&G Foods Inc                                                                   | CUSIP: 05508WAB1<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |    900000 | PA      | $788470.19    | 0.07%             | 2027-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Doncasters US Finance LLC                         | DONCASTERS US FINANCE LLC                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $177750.00    | 0.02%             | 2030-04-23      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| HPS Investment Partners CLO                       | HPC Investment Partners CLO                                                     | CUSIP: 44330BAM6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    459964 | PA      | $460267.87    | 0.04%             | 2029-10-20      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co                                                             | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $17572843.99  | 1.57%             | N/A             | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2022-R04                                    | CUSIP: 20753YCK6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1031434.00   | 0.09%             | 2042-03-25      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834LB2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     75000 | PA      | $31987.13     | 0.00%             | 2042-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ASHLAND INC                                       | Ashland Inc                                                                     | CUSIP: 04433LAA0<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |    575000 | PA      | $495745.10    | 0.04%             | 2031-09-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834VV7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $69452.41     | 0.01%             | 2050-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TFS_18-3                                          | TFS_18-3                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | N/A       |         1 | PA      | $1.14         | 0.00%             | 2040-04-16      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| NEWGENERATIONGASGATHERINGLLC                      | NEWGENERATIONGASGATHERINGLLC                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    148648 | PA      | $146418.28    | 0.01%             | 2029-09-30      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Citibank, National Association                    | EUR/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6864.46     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS - UNFUNDED                     | NEW GENERATION GAS - UNFUNDED                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     74324 | PA      | $73209.48     | 0.01%             | 2029-09-30      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                          | OCP SA                                                                          | CUSIP: 67091TAD7<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    200000 | PA      | $176394.00    | 0.02%             | 2031-06-23      | Fixed         | 3.75%                 | Yes           |                  2 | On Loan: —       |
| TALKTALK TELECOM GROUP                            | TalkTalk Telecom Group Ltd                                                      | CUSIP: 000000000<br>LEI: 213800WF53FVDRRHRF44 | Long             | DBT              | CORP              | GB        |   1949923 | PA      | $1457122.24   | 0.13%             | 2027-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWCQ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    352439 | PA      | $301502.80    | 0.03%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834MD7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5160000 | PA      | $2077033.67   | 0.19%             | 2043-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                | Expand Energy Corp                                                              | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    425000 | PA      | $426536.28    | 0.04%             | 2029-02-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| LINCT 2024-1 A1X                                  | LINCT 2024-1 A1X                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2373000 | PA      | $2373000.00   | 0.21%             | 2025-08-04      | Floating      | 2.75%                 | No            |                  3 | On Loan: No      |
| UNITED GROUP BV                                   | United Group BV                                                                 | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |    318182 | PA      | $358858.97    | 0.03%             | 2027-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FALABELLA SA                                      | Falabella SA                                                                    | CUSIP: 30607FAA8<br>LEI: 5493004CKJQ7H391LM41 | Long             | DBT              | CORP              | CL        |   2855000 | PA      | $2439169.25   | 0.22%             | 2032-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS GATHERING LLC                  | NEW GENERATION GAS GATHERING LLC                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    178378 | PA      | $175702.33    | 0.02%             | 2029-09-30      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Bank of America, National Association             | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2440.71     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140XQKD8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1856734 | PA      | $1828266.64   | 0.16%             | 2050-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD UAE                                  | DP World Ltd/United Arab Emirates                                               | CUSIP: 000000000<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |    500000 | PA      | $641675.44    | 0.06%             | 2030-09-25      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Zegona Holdco Limited                             | ZEGONA HOLDCO LTD                                                               | CUSIP: 000000000<br>LEI: 213800UXDFOAHVOOVX08 | Long             | LON              | CORP              | GB        |   2500000 | PA      | $2841463.62   | 0.25%             | 2029-07-17      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                | Expand Energy Corp                                                              | CUSIP: 845467AR0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499569.69    | 0.04%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                            | WESCO Distribution Inc                                                          | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    160000 | PA      | $164297.42    | 0.01%             | 2032-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                    | ARES Trust 2025-IND3                                                            | CUSIP: 039955AJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1060000 | PA      | $1057350.00   | 0.09%             | 2042-04-15      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                           | CUSIP: 071734AM9<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    800000 | PA      | $512000.00    | 0.05%             | 2029-02-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| DIGICEL GROUP HOLDINGS                            | Digicel Group Holdings Ltd                                                      | CUSIP: 25381HAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     83715 | PA      | $0.08         | 0.00%             | 2030-12-31      | None          | 0.00%                 | Yes           |                  3 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DVLE3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11884950 | PA      | $9902086.31   | 0.89%             | 2050-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                                     | TopBuild Corp                                                                   | CUSIP: 89055FAC7<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    875000 | PA      | $794821.74    | 0.07%             | 2032-02-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: —       |
| GOLDMAN SACHS INTERNATIONAL                       | CDS ORGANON & CO                                                                | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-66827.75    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179XFL5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    249364 | PA      | $253757.39    | 0.02%             | 2052-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                             | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAB3<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1711207.85   | 0.15%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $971425.04    | 0.09%             | 2031-02-15      | Fixed         | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Codere Group Topco S.A. A1 Equity                 | Codere Group Topco S.A. A1 Equity                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | N/A       |       795 | NS      | $18053.65     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| AMERIGAS PART/FIN CORP                            | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    295000 | PA      | $288252.76    | 0.03%             | 2027-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179XTE6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    767497 | PA      | $780480.53    | 0.07%             | 2053-02-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DIG MIDCO/DIFL US II LLC                          | Digicel Midco Ltd / Difl US II LLC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LC        |   1654804 | PA      | $1603091.38   | 0.14%             | 2028-11-25      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| UNITED AIR 2019-2 AA PTT                          | United Airlines 2019-2 Class AA Pass Through Trust                              | CUSIP: 90932JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    348169 | PA      | $307097.33    | 0.03%             | 2032-05-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                           | Crescent Energy Finance LLC                                                     | CUSIP: 45344LAC7<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    310000 | PA      | $320102.51    | 0.03%             | 2028-02-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| St Pauls CLO                                      | St Paul's CLO IV DAC                                                            | CUSIP: 000000000<br>LEI: 549300IMSL8GGSOV5A04 | Long             | ABS-CBDO         | CORP              | IE        |   9200000 | PA      | $10035124.09  | 0.90%             | 2030-04-25      | Fixed         | 1.87%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS REPUBLIC OF PERU                                                            | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-25990.33    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                      | Ecopetrol SA                                                                    | CUSIP: 279158AT6<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |   2105000 | PA      | $2208145.00   | 0.20%             | 2029-01-19      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CD&R FIREFLY BIDCO LTD                            | CD&R Firefly Bidco PLC                                                          | CUSIP: 000000000<br>LEI: 213800OAU5VX61DYZ558 | Long             | DBT              | CORP              | GB        |   4175000 | PA      | $5807048.52   | 0.52%             | 2029-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Tikehau CLO IX DAC                                | Tikehau Clo IX DAC                                                              | CUSIP: 000000000<br>LEI: 635400WF4D7I3IFMCZ19 | Long             | ABS-CBDO         | CORP              | IE        |   9500000 | PA      | $10802502.12  | 0.97%             | 2037-01-20      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2022-DNA4                                         | CUSIP: 35564KWT2<br>LEI: 5493000IS4CDPWRMWB65 | Long             | ABS-MBS          | USGSE             | US        |    700000 | PA      | $727528.41    | 0.07%             | 2042-05-25      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                       | Gap Inc/The                                                                     | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    825000 | PA      | $755484.39    | 0.07%             | 2029-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                         | Boeing Co/The                                                                   | CUSIP: 097023CR4<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $990348.11    | 0.09%             | 2059-08-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418ECS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4332560 | PA      | $3848456.62   | 0.34%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CR FUND                        | BLACKSTONE PRIVATE CR FUND                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1238853.75   | 0.11%             | 2027-05-03      | Fixed         | 5.61%                 | No            |                  3 | On Loan: No      |
| WESCO DISTRIBUTION INC                            | WESCO Distribution Inc                                                          | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    205000 | PA      | $209310.81    | 0.02%             | 2029-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                                | Mattamy Group Corp                                                              | CUSIP: 57701RAM4<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |   3575000 | PA      | $3345234.75   | 0.30%             | 2030-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS PG&E CORP                                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-137975.97   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418ECR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  12989033 | PA      | $11070632.37  | 0.99%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CCM MERGER INC                                    | CCM Merger Inc                                                                  | CUSIP: 14985VAE1<br>LEI: 549300P77RSBKKFME089 | Long             | DBT              | CORP              | US        |   2175000 | PA      | $2175549.17   | 0.19%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                          | Virgin Media Secured Finance PLC                                                | CUSIP: 000000000<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $650446.69    | 0.06%             | 2029-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                        | BFLD 2024-WRHS Mortgage Trust                                                   | CUSIP: 05555HAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1205096 | PA      | $1203764.16   | 0.11%             | 2026-08-15      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                       | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   3850000 | PA      | $3628836.75   | 0.32%             | 2036-04-01      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                            | VICI Properties LP / VICI Note Co Inc                                           | CUSIP: 92564RAH8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74561.64     | 0.01%             | 2026-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179XDE3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7087612 | PA      | $6729722.29   | 0.60%             | 2052-08-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                           | CUSIP: 071734AN7<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1075000 | PA      | $877468.75    | 0.08%             | 2028-06-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| HERC HOLDINGS ESCROW INC                          | Herc Holdings Escrow Inc                                                        | CUSIP: 42703NAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $123452.25    | 0.01%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STRIP PRINC                                       | United States Treasury Strip Principal                                          | CUSIP: 912803EK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1145000 | PA      | $429291.39    | 0.04%             | 2044-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/COP FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-129362.20   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                          | OCP SA                                                                          | CUSIP: 67091TAF2<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |   3331000 | PA      | $3367641.00   | 0.30%             | 2034-05-02      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2970000 | PA      | $2912456.25   | 0.26%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                              | Las Vegas Sands Corp                                                            | CUSIP: 517834AF4<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    255000 | PA      | $239201.55    | 0.02%             | 2029-08-08      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partne                    | Pret 2025-NPL2 LLC                                                              | CUSIP: 69392JAA7<br>LEI: 254900S0KCA0ULKWBW61 | Long             | ABS-O            | CORP              | US        |   1953187 | PA      | $1941020.86   | 0.17%             | 2055-03-25      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                           | Crescent Energy Finance LLC                                                     | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    470000 | PA      | $444457.42    | 0.04%             | 2032-04-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWES8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1600877 | PA      | $1513070.39   | 0.14%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                | Expand Energy Corp                                                              | CUSIP: 845467AT6<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    575000 | PA      | $542623.73    | 0.05%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                          | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VAX1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    280000 | PA      | $282119.75    | 0.03%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Gold Pool                                                           | CUSIP: 31335A3Y2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1456767 | PA      | $1458070.71   | 0.13%             | 2043-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                            | WESCO Distribution Inc                                                          | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    975000 | PA      | $986923.10    | 0.09%             | 2028-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | CDS REPUBLIC OF ARGENTINA                                                       | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $2756.27      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPITAL ONE NA                                    | Capital One NA                                                                  | CUSIP: 25466AAR2<br>LEI: 207ALC1P1YM0OVDV0K75 | Long             | DBT              | CORP              | US        |   3275000 | PA      | $2967975.77   | 0.27%             | 2030-02-06      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                       | Gap Inc/The                                                                     | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    750000 | PA      | $662925.00    | 0.06%             | 2031-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GWV2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    265000 | PA      | $259324.53    | 0.02%             | 2029-04-23      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Trust 2025-DIME                                                              | CUSIP: 05613UAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2110000 | PA      | $2093635.47   | 0.19%             | 2035-02-15      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                            | AngloGold Ashanti Holdings PLC                                                  | CUSIP: 03512TAF8<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |   1405000 | PA      | $1324212.50   | 0.12%             | 2028-11-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Blackstone Mortgage Trust Inc                     | Blackstone Mortgage Trust Inc                                                   | CUSIP: 09259GAC7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | LON              | CORP              | US        |     62284 | PA      | $62128.22     | 0.01%             | 2026-04-23      | Floating      | 6.69%                 | No            |                  3 | On Loan: No      |
| HERC HOLDINGS ESCROW INC                          | Herc Holdings Escrow Inc                                                        | CUSIP: 42703NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    285000 | PA      | $293650.57    | 0.03%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CMS ENERGY CORP                                   | CMS Energy Corp                                                                 | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1463882.98   | 0.13%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                   | CVS Health Corp                                                                 | CUSIP: 126650CN8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21445.68     | 0.00%             | 2045-07-20      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                        | Affirm Asset Securitization Trust 2024-X2                                       | CUSIP: 00833QAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1700000 | PA      | $1706189.53   | 0.15%             | 2029-12-17      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/CZK FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8238.69     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Clarios Global LP                                 | CLARIOS GLOBAL LP                                                               | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    250000 | PA      | $249062.50    | 0.02%             | 2032-01-28      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                                       | State of Illinois                                                               | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1138824 | PA      | $1130461.95   | 0.10%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                       | CUSIP: 817477AG7<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |    425000 | PA      | $435625.00    | 0.04%             | 2028-05-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                    | Bombardier Inc                                                                  | CUSIP: 097751CD1<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    595000 | PA      | $603389.50    | 0.05%             | 2033-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                            | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252758.94    | 0.02%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Trust 2025-TAIL                                                              | CUSIP: 123912AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1040000 | PA      | $1040000.00   | 0.09%             | 2035-06-15      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418EJF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1896146 | PA      | $1842065.23   | 0.16%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                      | GS Mortgage Securities Corportation Trust 2021-IP                               | CUSIP: 36262MAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3090000 | PA      | $3024891.54   | 0.27%             | 2036-10-15      | Floating      | 8.99%                 | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                      | JELD-WEN Inc                                                                    | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    500000 | PA      | $437507.98    | 0.04%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    400000 | PA      | $359472.82    | 0.03%             | 2031-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS PETROLEOS MEXICANOS                                                         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $25000.33     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GREYSTONE COML CAP TRUST                          | Greystone Commercial Capital Trust Series 2021-2                                | CUSIP: 39810DAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6293306 | PA      | $5601042.60   | 0.50%             | 2025-05-31      | Floating      | 7.23%                 | Yes           |                  3 | On Loan: No      |
| ECOPETROL SA                                      | Ecopetrol SA                                                                    | CUSIP: 279158AN9<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |   1000000 | PA      | $980000.00    | 0.09%             | 2030-04-29      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Pnmac Gmsr Issuer Trust                           | PMT Issuer Trust - FMSR                                                         | CUSIP: 693968AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2008146.80   | 0.18%             | 2027-12-25      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                             | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    400000 | PA      | $373980.00    | 0.03%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                            | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    800000 | PA      | $800802.05    | 0.07%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DV6U4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5513196 | PA      | $4541902.55   | 0.41%             | 2050-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DIAMOND SPORTS GRP LLC- CS                        | DIAMOND SPORTS GRP LLC- CS                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37739 | NS      | $536195.71    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140QPKN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1140189 | PA      | $1017146.35   | 0.09%             | 2052-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Government National Mortgage Association                                        | CUSIP: 38382AXK6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3716423 | PA      | $630188.32    | 0.06%             | 2049-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                              | Pilgrim's Pride Corp                                                            | CUSIP: 72147KAJ7<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1896678.88   | 0.17%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | SWOP IRS USD                                                                    | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              | CORP              | DE        |   1685000 | OU      | $13519.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | CNH/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $11219.92     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                             | Caesars Entertainment Inc                                                       | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   2375000 | PA      | $2217859.04   | 0.20%             | 2029-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                          | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VAR4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    825000 | PA      | $837467.55    | 0.07%             | 2028-12-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                    | Wynn Macau Ltd                                                                  | CUSIP: 98313RAG1<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   1400000 | PA      | $1393000.00   | 0.12%             | 2026-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                     | DISH DBS Corp                                                                   | CUSIP: 25470XBD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    225000 | PA      | $147451.72    | 0.01%             | 2029-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Ally Bank Auto Credit-Linked N                    | Ally Bank Auto Credit-Linked Notes Series 2024-A                                | CUSIP: 02007GZ89<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    641769 | PA      | $648704.37    | 0.06%             | 2032-05-17      | Fixed         | 7.92%                 | No            |                  2 | On Loan: No      |
| Codere Group Topco S.A. A2 Equity                 | Codere Group Topco S.A. A2 Equity                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | N/A       |      1119 | NS      | $25411.37     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3133A9UL7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   9102122 | PA      | $7501365.20   | 0.67%             | 2050-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                             | Civitas Resources Inc                                                           | CUSIP: 097793AE3<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $980488.94    | 0.09%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                           | MPT Operating Partnership LP / MPT Finance Corp                                 | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $327505.08    | 0.03%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                              | LHOME Mortgage Trust 2024-RTL4                                                  | CUSIP: 50205PAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3100000 | PA      | $3103638.78   | 0.28%             | 2039-07-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS PETROLEOS MEXICANOS                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $3512.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                           | American Axle & Manufacturing Inc                                               | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    950000 | PA      | $945149.70    | 0.08%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418D6B3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2765227 | PA      | $2155186.96   | 0.19%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                               | COMM 2024-277P Mortgage Trust                                                   | CUSIP: 12654FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $624510.90    | 0.06%             | 2044-08-10      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Commercial Mortgage Trust 2025-SPOT                                          | CUSIP: 12433FAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1091075.37   | 0.10%             | 2040-04-15      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-AON                 | CUSIP: 46649XAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   9825000 | PA      | $3021190.45   | 0.27%             | 2031-07-05      | Variable      | 4.61%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                           | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2150000 | PA      | $2063992.97   | 0.18%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                      | Hudson Yards 2025-SPRL Mortgage Trust                                           | CUSIP: 44855PAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    970000 | PA      | $988131.53    | 0.09%             | 2040-01-13      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                          | Ashton Woods USA LLC / Ashton Woods Finance Co                                  | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    825000 | PA      | $774011.65    | 0.07%             | 2030-04-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: —       |
| ARAB REPUBLIC OF EGYPT                            | Egypt Government International Bond                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |   2800000 | PA      | $2751868.00   | 0.25%             | 2026-02-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179XH33<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    734363 | PA      | $747290.21    | 0.07%             | 2052-10-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS BOMBARDIER INC                                                              | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-129924.23   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                             | Freedom Mortgage Corp                                                           | CUSIP: 35640YAK3<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |    150000 | PA      | $161098.82    | 0.01%             | 2028-10-01      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                           | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $286676.43    | 0.03%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                | Energy Transfer LP                                                              | CUSIP: 29273RBL2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      5000 | PA      | $4251.95      | 0.00%             | 2047-04-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Oaktown Re Ltd                                    | Oaktown Re VII Ltd                                                              | CUSIP: 67389JAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |   3224417 | PA      | $3255076.01   | 0.29%             | 2034-04-25      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                            | Brixmor Operating Partnership LP                                                | CUSIP: 11120VAJ2<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1523780.67   | 0.14%             | 2030-07-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: —       |
| CLYDESDALE ACQUISITION                            | Clydesdale Acquisition Holdings Inc                                             | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |    660000 | PA      | $674532.83    | 0.06%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                      | Ecopetrol SA                                                                    | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    620000 | PA      | $512864.00    | 0.05%             | 2031-11-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                          | Boost Newco Borrower LLC                                                        | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |    200000 | PA      | $211425.85    | 0.02%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418ED80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6624295 | PA      | $6082628.84   | 0.54%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    245000 | PA      | $227768.00    | 0.02%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC | USD/TWD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |         1 | NC      | $276863.77    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWAF0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1336757 | PA      | $1048534.60   | 0.09%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| VIKING OCEAN CRUISES SHI                          | Viking Ocean Cruises Ship VII Ltd                                               | CUSIP: 92682RAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |   1075000 | PA      | $1059391.00   | 0.09%             | 2029-02-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                            | MGM China Holdings Ltd                                                          | CUSIP: 55300RAG6<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |   2160000 | PA      | $2115720.00   | 0.19%             | 2027-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWBH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2829219 | PA      | $2211130.12   | 0.20%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWDL4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1404342 | PA      | $1245617.29   | 0.11%             | 2052-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                       | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   3316000 | PA      | $3490296.09   | 0.31%             | 2031-10-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                          | BX Commercial Mortgage Trust 2025-SPOT                                          | CUSIP: 12433FAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2200000 | PA      | $2172697.56   | 0.19%             | 2040-04-15      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                    | Freddie Mac Multifamily Structured Pass Through Certificates                    | CUSIP: 3137BPW39<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    991003 | PA      | $7919.50      | 0.00%             | 2026-03-25      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| SPRINT CAPITAL CORP                               | Sprint Capital Corp                                                             | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3593998.76   | 0.32%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Codere Group Topco S.A. Warrants                  | Codere Group Topco S.A. Warrants                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | N/A       |        15 | NS      | $136.25       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS EMIRATE OF ABU DHABI                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-63749.76    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                            | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1587299.21   | 0.14%             | 2028-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                          | Ashton Woods USA LLC / Ashton Woods Finance Co                                  | CUSIP: 045086AM7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    675000 | PA      | $640238.38    | 0.06%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                          | Virgin Media Secured Finance PLC                                                | CUSIP: 000000000<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |   2600000 | PA      | $3190142.15   | 0.29%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AYDEM YENILENEBILIR ENER                          | Aydem Yenilenebilir Enerji AS                                                   | CUSIP: 054644AA7<br>LEI: 9845009C50EDA74OA532 | Long             | DBT              | CORP              | TR        |   1705500 | PA      | $1694840.63   | 0.15%             | 2027-02-02      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NCR ATLEOS LLC                                    | NCR Atleos Corp                                                                 | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |    656000 | PA      | $716295.88    | 0.06%             | 2029-04-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                           | HCA Inc                                                                         | CUSIP: 404119AJ8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2251292.00   | 0.20%             | 2033-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418ENM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    905811 | PA      | $932116.39    | 0.08%             | 2053-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                              | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    160000 | PA      | $137366.72    | 0.01%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                     | DISH DBS Corp                                                                   | CUSIP: 25470XBB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $341441.01    | 0.03%             | 2028-07-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                    | BBCMS 2018-CHRS Mortgage Trust                                                  | CUSIP: 05491VAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $214665.08    | 0.02%             | 2038-08-05      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS LOUISIANA PACIFIC CORP                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-164649.06   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                     | Carnival Corp                                                                   | CUSIP: 143658BY7<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    150000 | PA      | $149811.00    | 0.01%             | 2030-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3133APUF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2517360 | PA      | $2065992.64   | 0.18%             | 2051-08-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                            | NXP BV / NXP Funding LLC / NXP USA Inc                                          | CUSIP: 62954HAX6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    675000 | PA      | $656761.50    | 0.06%             | 2027-05-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| SHERWOOD FINANCING PLC                            | Sherwood Financing PLC                                                          | CUSIP: 000000000<br>LEI: 259400SSZWSSPNYW7K08 | Long             | DBT              | CORP              | GB        |   3250000 | PA      | $4324151.41   | 0.39%             | 2026-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SHEA HOMES LP/FNDG CP                             | Shea Homes LP / Shea Homes Funding Corp                                         | CUSIP: 82088KAK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1925000 | PA      | $1883608.92   | 0.17%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                               | COMM 2024-277P Mortgage Trust                                                   | CUSIP: 12654FAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1900000 | PA      | $52427.65     | 0.00%             | 2044-08-10      | Variable      | 0.66%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                          | Rockies Express Pipeline LLC                                                    | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    225000 | PA      | $214700.67    | 0.02%             | 2040-04-15      | Fixed         | 6.88%                 | Yes           |                  2 | On Loan: No      |
| FERRELLGAS ESCROW LLC 3/30/31 Equity Preferred    | FERRELLGAS ESCROW LLC 3/30/31 Equity Preferred                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   3925000 | NS      | $3925000.00   | 0.35%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140QMCJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    955341 | PA      | $816429.40    | 0.07%             | 2051-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3133ANK78<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1903159 | PA      | $1560263.57   | 0.14%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | USD/KRW FORWARD                                                                 | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $85891.58     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Adtalem Global Education Inc                      | ADTALEM GLOBAL EDUCATION                                                        | CUSIP: 00737RAH3<br>LEI: 549300Z467EZLMODV621 | Long             | LON              | CORP              | US        |    255535 | PA      | $255428.19    | 0.02%             | 2028-08-12      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2018-AON                 | CUSIP: 46649XAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8800000 | PA      | $4180002.64   | 0.37%             | 2031-07-05      | Variable      | 4.61%                 | No            |                  2 | On Loan: No      |
| GOHL CAPITAL LTD                                  | Gohl Capital Ltd                                                                | CUSIP: 000000000<br>LEI: 254900TF7OK6KSDZA888 | Long             | DBT              | CORP              | IM        |   1020000 | PA      | $997050.00    | 0.09%             | 2027-01-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                            | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $150086.41    | 0.01%             | 2030-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                            | Marriott International Inc/MD                                                   | CUSIP: 571903BE2<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    920000 | PA      | $912970.80    | 0.08%             | 2030-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| ADTALEM GLOBAL EDUCATION                          | Adtalem Global Education Inc                                                    | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |    728000 | PA      | $722997.24    | 0.06%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DBWF Mortgage Trust                               | DBWF 2016-85T Mortgage Trust                                                    | CUSIP: 23307CAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $230916.83    | 0.02%             | 2036-12-10      | Variable      | 3.81%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179WNF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5132361 | PA      | $4474155.78   | 0.40%             | 2051-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| M/I HOMES INC                                     | M/I Homes Inc                                                                   | CUSIP: 55305BAS0<br>LEI: 5299005M71FH9CCSFB69 | Long             | DBT              | CORP              | US        |    800000 | PA      | $788244.90    | 0.07%             | 2028-02-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418EF21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    955982 | PA      | $903515.23    | 0.08%             | 2052-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | USD CALL VERSUS TWD PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |  -3392000 | NC      | $-6458.16     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MENLO CLO                                         | Menlo CLO I Ltd                                                                 | CUSIP: 586915AE0<br>LEI: 2549005RHPY3C68SIP61 | Long             | ABS-CBDO         | CORP              | KY        |   5150000 | PA      | $5171977.11   | 0.46%             | 2038-01-20      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834KH0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    785000 | PA      | $350627.34    | 0.03%             | 2041-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                             | GFL Environmental Inc                                                           | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    210000 | PA      | $217020.30    | 0.02%             | 2031-01-15      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                           | CUSIP: 527298CD3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    175000 | PA      | $154505.09    | 0.01%             | 2030-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| St Pauls CLO                                      | St Pauls CLO                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |   8500000 | PA      | $8941027.05   | 0.80%             | 2032-01-17      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140XJ3C5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1075745 | PA      | $1045062.39   | 0.09%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AU8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    675000 | PA      | $645277.85    | 0.06%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LTD                            | Eskom Holdings SOC Ltd                                                          | CUSIP: 000000000<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |   2504000 | PA      | $2586945.00   | 0.23%             | 2028-08-10      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                           | CUSIP: 071734AD9<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1225000 | PA      | $998375.00    | 0.09%             | 2028-01-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Regatta XII Funding Ltd.                          | Regatta XII Funding Ltd                                                         | CUSIP: 75888HAY7<br>LEI: 2549001ZYXDVCT6R4I31 | Long             | ABS-CBDO         | CORP              | KY        |   5500000 | PA      | $5529305.10   | 0.49%             | 2037-10-15      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                        | EUR CALL VERSUS TRY PUT                                                         | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |   1537000 | NC      | $171.05       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INTELSAT JACKSON HLDG                             | Intelsat Jackson Holdings SA                                                    | CUSIP: 45824TBC8<br>LEI: 8XJ8KF85PBKK1TLMFN29 | Long             | DBT              | CORP              | LU        |   2650000 | PA      | $2606407.50   | 0.23%             | 2030-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                 | DISH Network Corp                                                               | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |    525000 | PA      | $541368.60    | 0.05%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                          | Petrobras Global Finance BV                                                     | CUSIP: 000000000<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    730000 | PA      | $957992.80    | 0.09%             | 2034-01-16      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                             | Level 3 Financing Inc                                                           | CUSIP: 527298CB7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68385.35     | 0.01%             | 2029-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VTB BANK (VTB CAPITAL SA                          | VTB Bank OJSC Via VTB Capital SA                                                | CUSIP: 000000000<br>LEI: 529900Z143LRJYE8LK88 | Long             | DBT              | CORP              | LU        |   2240000 | PA      | $112000.00    | 0.01%             | 2022-10-17      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179WVW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3200139 | PA      | $2857911.45   | 0.26%             | 2052-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BANCO DE CREDITO DEL PER                          | Banco de Credito del Peru S.A.                                                  | CUSIP: 05971U2D8<br>LEI: 549300EQYQ8SCQZ4BY14 | Long             | DBT              | CORP              | PE        |   1315000 | PA      | $1268567.35   | 0.11%             | 2031-09-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179WT24<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5144242 | PA      | $4598900.61   | 0.41%             | 2051-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                          | Sealed Air Corp/Sealed Air Corp US                                              | CUSIP: 812127AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101062.11    | 0.01%             | 2028-02-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| AYDEM YENILENEBILIR ENER                          | Aydem Yenilenebilir Enerji AS                                                   | CUSIP: 000000000<br>LEI: 9845009C50EDA74OA532 | Long             | DBT              | CORP              | TR        |   1359000 | PA      | $1350506.25   | 0.12%             | 2027-02-02      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                      | USD/TRY FORWARD                                                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-7306.77     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                              | Colombia Government International Bond                                          | CUSIP: 195325ER2<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1782000 | PA      | $1835281.80   | 0.16%             | 2030-04-25      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Sierra Receivables Funding Co                     | Sierra Timeshare 2023-2 Receivables Funding LLC                                 | CUSIP: 82650BAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    615817 | PA      | $636100.04    | 0.06%             | 2040-04-20      | Fixed         | 9.72%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWC84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3505333 | PA      | $2988013.70   | 0.27%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| AMN HEALTHCARE INC                                | AMN Healthcare Inc                                                              | CUSIP: 00175PAB9<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $967729.20    | 0.09%             | 2027-10-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                       | BNP Paribas SA                                                                  | CUSIP: 09659W2K9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2020000 | PA      | $1854794.10   | 0.17%             | 2031-01-13      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| MEG ENERGY CORP                                   | MEG Energy Corp                                                                 | CUSIP: 552704AF5<br>LEI: 5493002WXPTG5ZC1T326 | Long             | DBT              | CORP              | CA        |    950000 | PA      | $945250.00    | 0.08%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LTD                            | Eskom Holdings SOC Ltd                                                          | CUSIP: 29646AAD8<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |    306000 | PA      | $316136.25    | 0.03%             | 2028-08-10      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 91282CDK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  37480000 | PA      | $35992512.50  | 3.22%             | 2026-11-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| VCAT Asset Securitization, LLC                    | VCAT 2025-NPL3 LLC                                                              | CUSIP: 92243QAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1469879 | PA      | $1463712.78   | 0.13%             | 2055-02-25      | Variable      | 5.89%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                            | Mexico City Airport Trust                                                       | CUSIP: 59284MAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |   6142000 | PA      | $4887987.86   | 0.44%             | 2047-07-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | SWOP IRS USD                                                                    | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |  -5690000 | OU      | $-4632.96     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                      | PLN/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $23680.36     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                             | Tenet Healthcare Corp                                                           | CUSIP: 88033GDH0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    825000 | PA      | $808790.96    | 0.07%             | 2028-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                             | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    144000 | PA      | $135936.00    | 0.01%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                    | WFCM Commercial Mortgage Trust 2024-GRP                                         | CUSIP: 95003YAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1103895.21   | 0.10%             | 2041-10-15      | Floating      | 7.27%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                             | Mineral Resources Ltd                                                           | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |    450000 | PA      | $459337.50    | 0.04%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WCORE Commercial Mortgage Trus                    | WCORE Commercial Mortgage Trust 2024-CORE                                       | CUSIP: 951913AG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2790000 | PA      | $2791743.75   | 0.25%             | 2041-11-15      | Floating      | 7.27%                 | No            |                  2 | On Loan: No      |
| VEON HOLDINGS BV                                  | VEON Holdings BV                                                                | CUSIP: 000000000<br>LEI: 5493000XDKGUH5NQGE22 | Long             | DBT              | CORP              | NL        |   2950000 | PA      | $2702015.63   | 0.24%             | 2027-11-25      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                             | Freeport Indonesia PT                                                           | CUSIP: 000000000<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |    820000 | PA      | $808315.00    | 0.07%             | 2032-04-14      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                      | Hudson Yards 2025-SPRL Mortgage Trust                                           | CUSIP: 44855PAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1895000 | PA      | $1940595.22   | 0.17%             | 2040-01-13      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                                | BMO 2024-5C4 Mortgage Trust                                                     | CUSIP: 09660SAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16130000 | PA      | $1409487.79   | 0.13%             | 2057-05-15      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                  | Altria Group Inc                                                                | CUSIP: 02209SBJ1<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    100000 | PA      | $93847.15     | 0.01%             | 2030-05-06      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS DOMINICAN REPUBLIC                                                          | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $78379.69     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITED GROUP BV                                   | United Group BV                                                                 | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $565181.59    | 0.05%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                          | Standard Industries Inc/NY                                                      | CUSIP: 853496AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $562923.38    | 0.05%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                      | Calpine Corp                                                                    | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    670000 | PA      | $657357.12    | 0.06%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae                                                                      | CUSIP: 21H040665<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |   -500000 | PA      | $-457795.29   | -0.04%            | 2053-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418D2M3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1582595 | PA      | $1297209.45   | 0.12%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp                                | Expand Energy Corp                                                              | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |     10284 | NS      | $1194280.92   | 0.11%             |  |  |  | Yes           |                  1 | On Loan: No      |
| HEALTHPEAK OP LLC                                 | Healthpeak OP LLC                                                               | CUSIP: 42250PAB9<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |    505000 | PA      | $453695.91    | 0.04%             | 2031-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                          | Windstream Services LLC / Windstream Escrow Finance Corp                        | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $145752.40    | 0.01%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CORNERSTONE BUILDING                              | Cornerstone Building Brands Inc                                                 | CUSIP: 21925DAA7<br>LEI: 549300IW41QEWQ6T0H29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $108108.87    | 0.01%             | 2029-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                     | Citigroup Inc                                                                   | CUSIP: 17308CC53<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   8950000 | PA      | $8275413.34   | 0.74%             | 2030-11-05      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/TWD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-254097.72   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BPR Trust                                         | BPR Commercial Mortgage Trust 2024-PARK                                         | CUSIP: 05593UAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2240000 | PA      | $2262252.16   | 0.20%             | 2039-11-05      | Variable      | 6.18%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                       | Gartner Inc                                                                     | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |    350000 | PA      | $346370.38    | 0.03%             | 2028-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL PARK HLDGS BV                       | INTERNATIONAL PARK HLDGS BV                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1138297.03   | 0.10%             | 2031-12-31      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| BELLIS ACQUISITION CO PL                          | Bellis Acquisition Co PLC                                                       | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |   1480000 | PA      | $1844522.15   | 0.17%             | 2030-05-14      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                               | Delta Air Lines Inc                                                             | CUSIP: 247361ZT8<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   1720000 | PA      | $1620269.47   | 0.15%             | 2029-10-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TPC Group Rights                                  | TPC Group Rights                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70274 | NS      | $1405480.00   | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| New Residential Mortgage Loan                     | New Residential Mortgage Loan Trust 2018-4                                      | CUSIP: 64828FCQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     67058 | PA      | $65624.75     | 0.01%             | 2048-01-25      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418EGT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    544184 | PA      | $528803.49    | 0.05%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179WNE4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2338547 | PA      | $1960092.14   | 0.18%             | 2051-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179V4U1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1879731 | PA      | $1510414.03   | 0.14%             | 2051-01-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                    | USD/KRW FORWARD                                                                 | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $20631.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179VVX5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   5169487 | PA      | $4153820.07   | 0.37%             | 2050-10-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                               | Freddie Mac STACR REMIC Trust 2021-DNA7                                         | CUSIP: 35564KMH9<br>LEI: 5493000ISOMSKCX2AW62 | Long             | ABS-MBS          | USGSE             | US        |    310000 | PA      | $312422.12    | 0.03%             | 2041-11-25      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN GROUP INC                           | Jefferies Financial Group Inc                                                   | CUSIP: 47233JBH0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    350000 | PA      | $337742.96    | 0.03%             | 2030-01-23      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179WG69<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    637888 | PA      | $589874.86    | 0.05%             | 2051-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 3140XJ6F5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3815694 | PA      | $3253352.31   | 0.29%             | 2052-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Sunrun Issuer                                     | Sunrun Bacchus Issuer 2025-1 LLC                                                | CUSIP: 86771PAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    978868 | PA      | $959536.66    | 0.09%             | 2060-04-30      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    675000 | PA      | $623995.32    | 0.06%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BLP Commercial Mortgage Trust                     | BLP Commercial Mortgage Trust 2025-IND                                          | CUSIP: 05625BAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1740000 | PA      | $1709550.00   | 0.15%             | 2042-03-15      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                               | Braskem Netherlands Finance BV                                                  | CUSIP: 10554TAB1<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |    212000 | PA      | $192496.00    | 0.02%             | 2028-01-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LIGHT S/A                                         | Light S/A                                                                       | CUSIP: 53223N208<br>LEI: N/A                  | Long             | DBT              | CORP              | BR        |    325729 | PA      | $48859.35     | 0.00%             | 2027-08-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | EUR/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10064.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayview Financing Trust                           | Bayview Financing Trust 2023-1F                                                 | CUSIP: 07336HAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    711053 | PA      | $711621.49    | 0.06%             | 2026-07-01      | Floating      | 8.31%                 | No            |                  3 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834DV7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    830000 | PA      | $416511.52    | 0.04%             | 2039-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BIG RIVER STEEL/BRS FIN                           | Big River Steel LLC / BRS Finance Corp                                          | CUSIP: 08949LAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    975000 | PA      | $983578.72    | 0.09%             | 2029-01-31      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                   | United States Treasury Note/Bond                                                | CUSIP: 91282CLU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1225000 | PA      | $1225095.70   | 0.11%             | 2031-10-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                      | Calpine Corp                                                                    | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3965590.20   | 0.35%             | 2028-03-15      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| MAXIM CRANE WORKS LLC                             | Maxim Crane Works Holdings Capital LLC                                          | CUSIP: 57779EAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    900000 | PA      | $926111.60    | 0.08%             | 2028-09-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                          | United Wholesale Mortgage LLC                                                   | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    400000 | PA      | $399527.60    | 0.04%             | 2025-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179UGB2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    829877 | PA      | $746964.82    | 0.07%             | 2048-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                               | NCL Corp Ltd                                                                    | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    500000 | PA      | $499375.00    | 0.04%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                             | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   1036000 | PA      | $1138683.76   | 0.10%             | 2028-02-21      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS CAESARS ENTERTAINMENT INC                                                   | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $-109884.41   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae REMICS                                                               | CUSIP: 3136B3AL4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1500000 | PA      | $1254590.85   | 0.11%             | 2048-10-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                | Serbia International Bond                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |   1006000 | PA      | $913810.16    | 0.08%             | 2033-03-03      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                            | General Motors Financial Co Inc                                                 | CUSIP: 37045XCY0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1365000 | PA      | $1256831.93   | 0.11%             | 2030-06-21      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                           | CUSIP: 071734AH0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    650000 | PA      | $507000.00    | 0.05%             | 2028-01-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                    | WFCM Commercial Mortgage Trust 2024-GRP                                         | CUSIP: 95003YAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    700000 | PA      | $703020.01    | 0.06%             | 2041-10-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| ROCC Trust                                        | ROCK Trust 2024-CNTR                                                            | CUSIP: 74970WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1895000 | PA      | $1979448.40   | 0.18%             | 2041-11-13      | Fixed         | 8.82%                 | No            |                  2 | On Loan: No      |
| Doncasters US Finance LLC                         | DONCASTERS US FINANCE LLC                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1856250 | PA      | $1833046.88   | 0.16%             | 2030-04-23      | Floating      | 10.80%                | No            |                  3 | On Loan: No      |
| DIG HLDNG/DIG FIN/DIFL                            | Digicel Intermediate Holdings Ltd / Digicel International Finance Ltd / Difl US | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   3605371 | PA      | $3614383.96   | 0.32%             | 2027-05-25      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                            | Mexico City Airport Trust                                                       | CUSIP: 59284MAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    938000 | PA      | $752481.14    | 0.07%             | 2046-10-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| POWER FINANCE CORP LTD                            | Power Finance Corp Ltd                                                          | CUSIP: 000000000<br>LEI: 3358003Q6D9LIJJZ1614 | Long             | DBT              | CORP              | IN        |    800000 | PA      | $804008.00    | 0.07%             | 2028-08-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS BRL PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -1687000 | NC      | $-3756.37     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ESKOM HOLDINGS SOC LTD                            | Eskom Holdings SOC Ltd                                                          | CUSIP: 29646AAC0<br>LEI: 3789001900ED06F65111 | Long             | DBT              | CORP              | ZA        |   2485000 | PA      | $2481893.75   | 0.22%             | 2028-08-10      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834JB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  13050000 | PA      | $6063164.10   | 0.54%             | 2040-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307BD8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    475000 | PA      | $219482.26    | 0.02%             | 2030-12-01      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| STATE OF MINAS GERAIS                             | Brazil Minas SPE via State of Minas Gerais                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    909000 | PA      | $900109.98    | 0.08%             | 2028-02-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S                    | Barclays Commercial Mortgage Trust 2019-C4                                      | CUSIP: 07335CAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  43170000 | PA      | $1780550.97   | 0.16%             | 2052-08-15      | Variable      | 1.11%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834QP6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    230000 | PA      | $77073.42     | 0.01%             | 2046-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MIZRAHI TEFAHOT BANK LTD                          | Mizrahi Tefahot Bank Ltd                                                        | CUSIP: 000000000<br>LEI: YZO9YEGEO4VYDZMDWF93 | Long             | DBT              | CORP              | IL        |   2545000 | PA      | $2465265.15   | 0.22%             | 2031-04-07      | Fixed         | 3.08%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                             | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    130000 | PA      | $131584.70    | 0.01%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                | Howard Hughes Corp/The                                                          | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3757800.63   | 0.34%             | 2029-02-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MEXICO CITY ARPT TRUST                            | Mexico City Airport Trust                                                       | CUSIP: 59284MAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |   2330000 | PA      | $2230252.70   | 0.20%             | 2028-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS BANK OF MONTREAL                                                            | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-115.61      | -0.00%            |  |  |  | No            |                  3 | On Loan: No      |
| SMYRNA READY MIX CONCRET                          | Smyrna Ready Mix Concrete LLC                                                   | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |   1715000 | PA      | $1694156.60   | 0.15%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GoodLeap Sustainable Home Impr                    | GoodLeap Sustainable Home Solutions Trust 2024-1                                | CUSIP: 38237BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    827243 | PA      | $786654.73    | 0.07%             | 2057-06-20      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179WZB7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    247099 | PA      | $220469.11    | 0.02%             | 2052-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                  | Connecticut Avenue Securities Trust 2021-R01                                    | CUSIP: 20754RAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1220000 | PA      | $1248218.60   | 0.11%             | 2041-10-25      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179Y2N3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1201538 | PA      | $1228683.56   | 0.11%             | 2054-07-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                  | CUSIP: 61747YEL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   6820000 | PA      | $5995619.72   | 0.54%             | 2033-01-21      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                              | SCG Commercial Mortgage Trust 2025-DLFN                                         | CUSIP: 78398EAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1355000 | PA      | $1323572.27   | 0.12%             | 2035-03-15      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| AGILE GROUP HOLDINGS LTD                          | Agile Group Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 549300ZRISRT38EEYY07 | Long             | DBT              | CORP              | KY        |   2085000 | PA      | $140737.50    | 0.01%             | 2025-10-13      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                                | CA Magnum Holdings                                                              | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    535000 | PA      | $528312.50    | 0.05%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F050668<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   9500000 | PA      | $9194633.62   | 0.82%             | 2055-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD CALL VERSUS COP PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |   1689000 | NC      | $4.57         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CALPINE CORP                                      | Calpine Corp                                                                    | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   2775000 | PA      | $2702886.84   | 0.24%             | 2029-02-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategi                    | Carlyle Euro CLO 2019-1 DAC                                                     | CUSIP: 000000000<br>LEI: 635400YFJCERZ9QJKR15 | Long             | ABS-CBDO         | CORP              | IE        |   8250000 | PA      | $9376552.69   | 0.84%             | 2032-03-15      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                | Howard Hughes Corp/The                                                          | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    920000 | PA      | $903216.77    | 0.08%             | 2028-08-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| TALKTALK TELECOM GROUP                            | TalkTalk Telecom Group Ltd                                                      | CUSIP: 000000000<br>LEI: 213800WF53FVDRRHRF44 | Long             | DBT              | CORP              | GB        |   1842197 | PA      | $297850.06    | 0.03%             | 2028-03-01      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWDT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8766301 | PA      | $7786811.38   | 0.70%             | 2052-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| European Residential Loan Secu                    | LSF11 Boson Investments Sarl Compartment 2                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |     80726 | PA      | $88712.78     | 0.01%             | 2060-11-25      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                       | Ivory Coast Government International Bond                                       | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |   1678000 | PA      | $1803471.43   | 0.16%             | 2030-03-22      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWD34<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1936582 | PA      | $1778330.56   | 0.16%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307BB2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    200000 | PA      | $137435.11    | 0.01%             | 2030-12-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                | Dominican Republic International Bond                                           | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    195000 | PA      | $183300.00    | 0.02%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                           | CDS CDX.NA.HY.42.V1                                                             | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |         1 | NC      | $7639.18      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NEWELL BRANDS INC                                 | Newell Brands Inc                                                               | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |     75000 | PA      | $69415.41     | 0.01%             | 2032-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                          | Sensata Technologies Inc                                                        | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    665000 | PA      | $590646.20    | 0.05%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| PETROLEOS MEXICANOS                               | Petroleos Mexicanos                                                             | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   3462000 | PA      | $3398195.34   | 0.30%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS GATHERING LLC                  | NEW GENERATION GAS GATHERING LLC                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    148649 | PA      | $146418.92    | 0.01%             | 2029-09-30      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418EES5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  12933044 | PA      | $11875547.72  | 1.06%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| (PIPA070) PGIM Core Government Money Market Fund  | (PIPA070) PGIM Core Government Money Market Fund                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   7804637 | NS      | $7804636.94   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179WVX3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    663033 | PA      | $611049.81    | 0.05%             | 2052-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                         | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F060675<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $504255.73    | 0.05%             | 2055-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                           | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1175000 | PA      | $675625.00    | 0.06%             | 2030-01-30      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| ALTA MESA HLDGS/FINANC S                          | Alta Mesa Holdings LP / Alta Mesa Finance Services Corp                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2950000 | PA      | $3687.50      | 0.00%             | 2024-12-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION         | SWOP IRS USD                                                                    | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |   5690000 | OU      | $2717.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association             | TWD/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-264645.91   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                    | NRG Energy Inc                                                                  | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    225000 | PA      | $247147.01    | 0.02%             | N/A             | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| TENNECO INC                                       | Tenneco Inc                                                                     | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |   2025000 | PA      | $1994345.31   | 0.18%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                 | Lithia Motors Inc                                                               | CUSIP: 536797AG8<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    550000 | PA      | $518275.81    | 0.05%             | 2029-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CASSA DEPOSITI E PRESTIT                          | Cassa Depositi e Prestiti SpA                                                   | CUSIP: 147918AB2<br>LEI: 81560029E2CE4D14F425 | Long             | DBT              | NUSS              | IT        |    400000 | PA      | $403593.80    | 0.04%             | 2026-05-05      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418DV66<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2470858 | PA      | $1824604.30   | 0.16%             | 2051-01-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                          | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AS3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $692202.83    | 0.06%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                    | Ginnie Mae II Pool                                                              | CUSIP: 36179VTW0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1610755 | PA      | $1351649.87   | 0.12%             | 2050-09-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                 | PRPM 2024-5 LLC                                                                 | CUSIP: 69381KAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1852578 | PA      | $1849393.66   | 0.17%             | 2029-09-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                       | Freddie Mac Pool                                                                | CUSIP: 3132DWDU4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    990227 | PA      | $909259.47    | 0.08%             | 2052-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                             | Quikrete Holdings Inc                                                           | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    160000 | PA      | $162313.18    | 0.01%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                 | SWOP CDS CDX.NA.HY.44.V1                                                        | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DCR              | CORP              | GB        |  -5310000 | OU      | $-2935.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                     | Carnival Corp                                                                   | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    100000 | PA      | $96897.42     | 0.01%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                             | Tenet Healthcare Corp                                                           | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    325000 | PA      | $312139.44    | 0.03%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                      | Calpine Corp                                                                    | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1138996.62   | 0.10%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                           | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    950000 | PA      | $950000.00    | 0.09%             | 2026-08-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Bank5                                             | BANK5 2023-5YR4                                                                 | CUSIP: 06211FAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  10349000 | PA      | $1058856.90   | 0.09%             | 2056-12-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                 | Newell Brands Inc                                                               | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    145000 | PA      | $136497.94    | 0.01%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                           | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1241564.19   | 0.11%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STRIPS                                            | United States Treasury Strip Coupon                                             | CUSIP: 912834DU9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    110000 | PA      | $57207.43     | 0.01%             | 2038-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                             | Bausch Health Cos Inc                                                           | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $49875.00     | 0.00%             | 2029-02-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Madison Park Euro Funding                         | Madison Park Euro Funding XIV DAC                                               | CUSIP: 000000000<br>LEI: 635400XLHN7OVUSEV112 | Long             | ABS-CBDO         | CORP              | IE        |   8050000 | PA      | $9131552.95   | 0.82%             | 2032-07-15      | Floating      | 3.98%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $39381.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                           | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GWZ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1029446.02   | 0.09%             | 2029-05-01      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| DIGICEL INTL FIN LTD Common Equity                | DIGICEL INTL FIN LTD Common Equity                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116510 | NS      | $815570.00    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                  | CSC Holdings LLC                                                                | CUSIP: 126307BA4<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $2042496.27   | 0.18%             | 2030-01-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| NCL CORPORATION LTD                               | NCL Corp Ltd                                                                    | CUSIP: 62886HBA8<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |     56000 | PA      | $55792.80     | 0.00%             | 2026-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                          | Ascent Resources Utica Holdings LLC / ARU Finance Corp                          | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1004000 | PA      | $1205198.05   | 0.11%             | 2027-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                        | Fannie Mae Pool                                                                 | CUSIP: 31418DV74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3933703 | PA      | $3084830.16   | 0.28%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                          | Antero Midstream Partners LP / Antero Midstream Finance Corp                    | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1794836.77   | 0.16%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                             | Quikrete Holdings Inc                                                           | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    395000 | PA      | $401271.82    | 0.04%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                        | USD/EUR FORWARD                                                                 | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1228026.96  | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT                  | USD/PEN FORWARD                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-17021.13    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | CZK/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-42440.78    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                       | CDS MURPHY OIL CORP                                                             | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              | CORP              | GB        |         1 | NC      | $27938.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | EUR CALL VERSUS HUF PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -1484000 | NC      | $-12460.40    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                          | COP CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |  -1015000 | NC      | $-16116.43    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                    | BRL CALL VERSUS USD PUT                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |   1693000 | NC      | $0.02         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** Prudential Investment Portfolios 3

**Signature:** Christian J. Kelly

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

**Title:** Chief Financial Officer