# EDGAR Filing Document

**Accession Number:** 0001051562
**File Stem:** 0001752724-23-039210
**Filing Date:** 2023-2
**Character Count:** 30191
**Document Hash:** bcaacc82732131c6aa05a73805ffd0dc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-039210.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-039210

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRUDENTIAL INVESTMENT PORTFOLIOS 12
- **CENTRAL INDEX KEY:** 0001051562
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08565
- **FILM NUMBER:** 23665201

**BUSINESS ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 17TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102-4077
- **BUSINESS PHONE:** (973) 367-8982

**MAIL ADDRESS:**
- **STREET 1:** 655 BROAD STREET
- **STREET 2:** 17TH FLOOR
- **CITY:** NEWARK
- **STATE:** NJ
- **ZIP:** 07102-4077

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRUDENTIAL GLOBAL REAL ESTATE FUND
- **DATE OF NAME CHANGE:** 20100219

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DRYDEN GLOBAL REAL ESTATE FUND
- **DATE OF NAME CHANGE:** 20070111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STRATEGIC PARTNERS REAL ESTATE FUND
- **DATE OF NAME CHANGE:** 20050616

## Series and Classes Contracts Data

### PGIM US Real Estate Fund (Series ID: S000030621)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000094911 | Class A      | PJEAX           |
| C000094913 | Class C      | PJECX           |
| C000094914 | Class Z      | PJEZX           |
| C000187451 | Class R6     | PJEQX           |

## Nport-Ex

#### PGIM US Real Estate Fund

#### Schedule of Investments as of December 31, 2022 (unaudited)

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 99.7%** | **Long-Term Investments 99.7%** | **Long-Term Investments 99.7%** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Diversified REITs 2.8%** | **Diversified REITs 2.8%** | **Diversified REITs 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;76653 | &nbsp;&nbsp; $1799046 |
| **Health Care REITs 15.6%** | **Health Care REITs 15.6%** | **Health Care REITs 15.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Community Healthcare Trust, Inc. | &nbsp;&nbsp;34947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1251103 |
| &nbsp;&nbsp;&nbsp;&nbsp;Medical Properties Trust, Inc.(a) | 139106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1549641 |
| &nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | &nbsp;&nbsp;63044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1762080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ventas, Inc. | &nbsp;&nbsp;12638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569342 |
| &nbsp;&nbsp;&nbsp;&nbsp;Welltower, Inc. | &nbsp;&nbsp;75728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4963970 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10096136 |
| **Hotel & Resort REITs 1.5%** | **Hotel & Resort REITs 1.5%** | **Hotel & Resort REITs 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Apple Hospitality REIT, Inc. | &nbsp;&nbsp;38378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605605 |
| &nbsp;&nbsp;&nbsp;&nbsp;Host Hotels & Resorts, Inc. | &nbsp;&nbsp;21217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340533 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946138 |
| **Industrial REITs 18.1%** | **Industrial REITs 18.1%** | **Industrial REITs 18.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Americold Realty Trust, Inc. | &nbsp;&nbsp;76560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2167414 |
| &nbsp;&nbsp;&nbsp;&nbsp;First Industrial Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11872 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prologis, Inc. | &nbsp;&nbsp;70857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7987710 |
| &nbsp;&nbsp;&nbsp;&nbsp;Rexford Industrial Realty, Inc. | &nbsp;&nbsp;27474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501179 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11668175 |
| **Integrated Telecommunication Services 2.1%** | **Integrated Telecommunication Services 2.1%** | **Integrated Telecommunication Services 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Radius Global Infrastructure, Inc. (Class A Stock)\* | 114331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351392 |
| **Office REITs 1.7%** | **Office REITs 1.7%** | **Office REITs 1.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Veris Residential, Inc.\* | &nbsp;&nbsp;68470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090727 |
| **Residential REITs 18.4%** | **Residential REITs 18.4%** | **Residential REITs 18.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;American Homes 4 Rent (Class A Stock) | &nbsp;&nbsp;10197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307337 |
| &nbsp;&nbsp;&nbsp;&nbsp;Camden Property Trust | &nbsp;&nbsp;12500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437406 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Residential | &nbsp;&nbsp;53559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3159981 |
| &nbsp;&nbsp;&nbsp;&nbsp;Independence Realty Trust, Inc. | &nbsp;&nbsp;77336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303885 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invitation Homes, Inc. | &nbsp;&nbsp;21995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651932 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286036 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sun Communities, Inc. | &nbsp;&nbsp;15949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2280707 |
| &nbsp;&nbsp;&nbsp;&nbsp;UDR, Inc. | &nbsp;&nbsp;52760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2043395 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11869179 |

---

------

#### PGIM US Real Estate Fund

#### Schedule of Investments as of December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (Continued)** | **Common Stocks (Continued)** | **Common Stocks (Continued)** |
| **Retail REITs 18.1%** | **Retail REITs 18.1%** | **Retail REITs 18.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19841 | &nbsp;&nbsp; $1407322 |
| &nbsp;&nbsp;&nbsp;&nbsp;Brixmor Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;53081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1203346 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kimco Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;22545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477503 |
| &nbsp;&nbsp;&nbsp;&nbsp;Kite Realty Group Trust | &nbsp;&nbsp;&nbsp;&nbsp;36831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775292 |
| &nbsp;&nbsp;&nbsp;&nbsp;National Retail Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;21139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967321 |
| &nbsp;&nbsp;&nbsp;&nbsp;NETSTREIT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;38720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709738 |
| &nbsp;&nbsp;&nbsp;&nbsp;Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;31282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Regency Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;17556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1368290 |
| &nbsp;&nbsp;&nbsp;&nbsp;Spirit Realty Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;42871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1711839 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11702118 |
| **Specialized REITs 21.4%** | **Specialized REITs 21.4%** | **Specialized REITs 21.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp;16347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657967 |
| &nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2828015 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equinix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3807689 |
| &nbsp;&nbsp;&nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621541 |
| &nbsp;&nbsp;&nbsp;&nbsp;Life Storage, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416163 |
| &nbsp;&nbsp;&nbsp;&nbsp;Public Storage | &nbsp;&nbsp;&nbsp;&nbsp;10600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2970014 |
| &nbsp;&nbsp;&nbsp;&nbsp;SBA Communications Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1329510 |
| &nbsp;&nbsp;&nbsp;&nbsp;VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;36655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1187622 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13818521 |
| **Total Long-Term Investments<br> (cost $65,036,204)** | **Total Long-Term Investments<br> (cost $65,036,204)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64341432 |
| **Short-Term Investments 2.7%** | **Short-Term Investments 2.7%** | **Short-Term Investments 2.7%** |
| **Affiliated Mutual Fund 2.5%** | **Affiliated Mutual Fund 2.5%** | **Affiliated Mutual Fund 2.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Institutional Money Market Fund<br> (cost $1,595,843; includes $1,595,053 of cash collateral for securities on loan) | 1596641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595843 |

---

------

#### PGIM US Real Estate Fund

#### Schedule of Investments as of December 31, 2022 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Unaffiliated Fund 0.2%** | **Unaffiliated Fund 0.2%** | **Unaffiliated Fund 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management (Institutional Shares)<br> (cost $135,226) | 135226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $135226 |
| **Total Short-Term Investments<br> (cost $1,731,069)** | **Total Short-Term Investments<br> (cost $1,731,069)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731069 |
| **TOTAL INVESTMENTS 102.4%<br> (cost $66,767,273)** | **TOTAL INVESTMENTS 102.4%<br> (cost $66,767,273)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66072501 |
| Liabilities in excess of other assets (2.4)% | Liabilities in excess of other assets (2.4)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1570249) |
| **Net Assets 100.0%** | **Net Assets 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$64502252 |

---

------

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

REITs—Real Estate Investment Trust

\* Non-income producing security.

(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $1,545,118; cash collateral of $1,595,053 (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.

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 12

- **b. Investment Company Act file number:** 811-08565

- **c. CIK number of Registrant:** 0001051562

- **d. LEI of Registrant:** 549300TIDSYQDWW4LP02

- **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 US Real Estate Fund

- **b. EDGAR series identifier (if any):** S000030621

- **c. LEI of Series:** KYH24NEFT6I8UUX8CY03

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-30

**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:** $66319945.12

**Total Liabilities:** $1680105.01

**Net Assets:** $64639840.11

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000187451 | 2.79%                | 7.72%                | -5.06%               |
| Class ID C000094914 | 2.79%                | 7.72%                | -5.06%               |
| Class ID C000094913 | 2.75%                | 7.61%                | -5.13%               |
| Class ID C000094911 | 2.81%                | 7.65%                | -5.06%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1278158.70             | $2932229.89                                |
| Month 2  | $-353695.02              | $5221372.75                                |
| Month 3  | $-492554.86              | $-3128109.97                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Apple Hospitality REIT Inc               | Apple Hospitality REIT Inc               | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               | CORP              | US        |     38378 | NS      | $605604.84    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc               | Americold Realty Trust Inc               | CUSIP: 03064D108<br>LEI: 549300R7N1V5YV8MWH02 | Long             | EC               | CORP              | US        |     76560 | NS      | $2167413.60   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                    | Camden Property Trust                    | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     12500 | NS      | $1398500.00   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust            | First Industrial Realty Trust Inc        | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       246 | NS      | $11871.96     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                        | Kimco Realty Corp                        | CUSIP: 49446R109<br>LEI: 549300EA7I6T15IBYS12 | Long             | EC               | CORP              | US        |     22545 | NS      | $477503.10    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management       | Dreyfus Government Cash Management       | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |     38919 | NS      | $38918.83     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                | CubeSmart                                | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16347 | NS      | $657966.75    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                | Host Hotels & Resorts Inc                | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     21217 | NS      | $340532.85    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                     | Regency Centers Corp                     | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     17556 | NS      | $1097250.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                      | Sun Communities Inc                      | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     15949 | NS      | $2280707.00   | 3.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Radius Global Infrastructure I           | Radius Global Infrastructure Inc         | CUSIP: 750481103<br>LEI: 213800NT341MQ5USBX63 | Long             | EC               | CORP              | US        |    114331 | NS      | $1351392.42   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                       | Equity Residential                       | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     53559 | NS      | $3159981.00   | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                            | Welltower Inc                            | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |     75728 | NS      | $4963970.40   | 7.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                 | Digital Realty Trust Inc                 | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     28204 | NS      | $2828015.08   | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                        | Agree Realty Corp                        | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19841 | NS      | $1407322.13   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| National Retail Properties Inc           | National Retail Properties Inc           | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     21139 | NS      | $967320.64    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Tr           | Essential Properties Realty Trust Inc    | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     76653 | NS      | $1799045.91   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Storage Inc                         | Life Storage Inc                         | CUSIP: 53223X107<br>LEI: W9EE01AFDDF9DQCQZC68 | Long             | EC               | CORP              | US        |      4225 | NS      | $416162.50    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                      | VICI Properties Inc                      | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     36655 | NS      | $1187622.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                  | Kite Realty Group Trust                  | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36831 | NS      | $775292.55    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Veris Residential Inc                    | Veris Residential Inc                    | CUSIP: 554489104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     68470 | NS      | $1090727.10   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Spirit Realty Capital Inc                | Spirit Realty Capital Inc                | CUSIP: 84860W300<br>LEI: 549300LTU6LVPZSHMJ25 | Long             | EC               | CORP              | US        |     42871 | NS      | $1711839.03   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc           | Omega Healthcare Investors Inc           | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     63044 | NS      | $1762079.80   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc            | Rexford Industrial Realty Inc            | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     27474 | NS      | $1501179.36   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc               | Brixmor Property Group Inc               | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     53081 | NS      | $1203346.27   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In           | Equity LifeStyle Properties Inc          | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |      6771 | NS      | $437406.60    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                               | Ventas Inc                               | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     12638 | NS      | $569341.90    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                              | Equinix Inc                              | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      5813 | NS      | $3807689.39   | 5.89%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                    | American Homes 4 Rent                    | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     10197 | NS      | $307337.58    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc           | Community Healthcare Trust Inc           | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |     34947 | NS      | $1251102.60   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                       | Realty Income Corp                       | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     31282 | NS      | $1984217.26   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                           | Public Storage                           | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |     10600 | NS      | $2970014.00   | 4.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communit           | Mid-America Apartment Communities Inc    | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |      1822 | NS      | $286035.78    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                 | Simon Property Group Inc                 | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     11647 | NS      | $1368289.56   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                  | SBA Communications Corp                  | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      4743 | NS      | $1329510.33   | 2.06%             |  |  |  | No            |                  1 | 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        |   1571489 | NS      | $1570860.63   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                     | Invitation Homes Inc                     | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21995 | NS      | $651931.80    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                  | UDR Inc                                  | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     52760 | NS      | $2043394.80   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc            | Independence Realty Trust Inc            | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |     77336 | NS      | $1303884.96   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc             | Medical Properties Trust Inc             | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |    139106 | NS      | $1549640.84   | 2.40%             |  |  |  | No            |                  1 | On Loan: —       |
| NETSTREIT Corp                           | NETSTREIT Corp                           | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |     38720 | NS      | $709737.60    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                  | Extra Space Storage Inc                  | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4223 | NS      | $621541.14    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                             | Prologis Inc                             | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     70857 | NS      | $7987709.61   | 12.36%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** Prudential Investment Portfolios 12

**Signature:** Christian J. Kelly

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

**Title:** Treasurer and Principal Financial and Accounting Officer