# EDGAR Filing Document

**Accession Number:** 0001067442
**File Stem:** 0001752724-23-068057
**Filing Date:** 2023-3
**Character Count:** 52354
**Document Hash:** 41deccd074a1b7814b02980704d43b5e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-068057.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001752724-23-068057

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRUDENTIAL INVESTMENT PORTFOLIOS 16
- **CENTRAL INDEX KEY:** 0001067442
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08915
- **FILM NUMBER:** 23764296

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TARGET ASSET ALLOCATION FUNDS
- **DATE OF NAME CHANGE:** 20061003

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRUDENTIAL DIVERSIFIED FUNDS
- **DATE OF NAME CHANGE:** 19980930

## Series and Classes Contracts Data

### PGIM INCOME BUILDER FUND (Series ID: S000004703)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000012792 | Class R      | PCLRX           |
| C000012793 | Class A      | PCGAX           |
| C000012795 | Class C      | PCCFX           |
| C000012796 | Class Z      | PDCZX           |
| C000176454 | Class R6     | PCGQX           |

## Nport-Ex

#### PGIM Income Builder Fund

#### Schedule of Investments as of January 31, 2023 (unaudited)

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Long-Term Investments 99.7%** | **Long-Term Investments 99.7%** | **Long-Term Investments 99.7%** |
| **Affiliated Mutual Funds 58.6%** | **Affiliated Mutual Funds 58.6%** | **Affiliated Mutual Funds 58.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Core Conservative Bond Fund (Class R6) | 2473675 | &nbsp;&nbsp; $21768342 |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Emerging Markets Debt Hard Currency (Class R6) | 6439215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44559367 |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Jennison MLP Fund (Class R6) | 4347283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30996126 |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Quant Solutions Emerging Markets Equity Fund (Class R6) | &nbsp;&nbsp;&nbsp;263649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2863223 |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Quant Solutions International Equity Fund (Class R6) | 5155071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34178122 |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Real Estate Income Fund (Class R6) | 2677514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18983573 |
| **Total Affiliated Mutual Funds<br> (cost $160,256,371)(wd)** | **Total Affiliated Mutual Funds<br> (cost $160,256,371)(wd)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153348753 |
| **Common Stocks 12.9%** | **Common Stocks 12.9%** | **Common Stocks 12.9%** |
| **Aerospace & Defense 0.5%** | **Aerospace & Defense 0.5%** | **Aerospace & Defense 0.5%** |
| Raytheon Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;13050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303042 |
| **Banks 0.4%** | **Banks 0.4%** | **Banks 0.4%** |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629260 |
| Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425989 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055249 |
| **Beverages 0.4%** | **Beverages 0.4%** | **Beverages 0.4%** |
| Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444324 |
| PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579416 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023740 |
| **Biotechnology 1.0%** | **Biotechnology 1.0%** | **Biotechnology 1.0%** |
| AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542362 |
| Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077748 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2620110 |
| **Chemicals 0.2%** | **Chemicals 0.2%** | **Chemicals 0.2%** |
| DuPont de Nemours, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534732 |
| **Commercial Services & Supplies 0.1%** | **Commercial Services & Supplies 0.1%** | **Commercial Services & Supplies 0.1%** |
| Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355260 |
| **Communications Equipment 0.1%** | **Communications Equipment 0.1%** | **Communications Equipment 0.1%** |
| Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269778 |
| **Consumer Finance 0.2%** | **Consumer Finance 0.2%** | **Consumer Finance 0.2%** |
| American Express Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482807 |

---

------

#### PGIM Income Builder Fund

#### Schedule of Investments as of January 31, 2023 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (Continued)** | **Common Stocks (Continued)** | **Common Stocks (Continued)** |
| **Diversified Telecommunication Services 0.7%** | **Diversified Telecommunication Services 0.7%** | **Diversified Telecommunication Services 0.7%** |
| AT&T, Inc. | 49151 | &nbsp;&nbsp; $1001206 |
| BCE, Inc. (Canada) | 18012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851967 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853173 |
| **Electric Utilities 0.5%** | **Electric Utilities 0.5%** | **Electric Utilities 0.5%** |
| Entergy Corp. | &nbsp;&nbsp;1724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186675 |
| FirstEnergy Corp. | &nbsp;&nbsp;9925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406429 |
| PNM Resources, Inc. | 12271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607169 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200273 |
| **Entertainment 0.3%** | **Entertainment 0.3%** | **Entertainment 0.3%** |
| Electronic Arts, Inc. | &nbsp;&nbsp;7030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904620 |
| **Equity Real Estate Investment Trusts (REITs) 0.5%** | **Equity Real Estate Investment Trusts (REITs) 0.5%** | **Equity Real Estate Investment Trusts (REITs) 0.5%** |
| American Tower Corp. | &nbsp;&nbsp;&nbsp;&nbsp;880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196583 |
| Prologis, Inc. | &nbsp;&nbsp;8929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154341 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350924 |
| **Food & Staples Retailing 0.5%** | **Food & Staples Retailing 0.5%** | **Food & Staples Retailing 0.5%** |
| Walmart, Inc. | &nbsp;&nbsp;9233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328352 |
| **Food Products 1.2%** | **Food Products 1.2%** | **Food Products 1.2%** |
| General Mills, Inc.(a) | 15573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220300 |
| J.M. Smucker Co. (The) | &nbsp;&nbsp;7593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160210 |
| Kraft Heinz Co. (The) | 19724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799414 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179924 |
| **Hotels, Restaurants & Leisure 0.3%** | **Hotels, Restaurants & Leisure 0.3%** | **Hotels, Restaurants & Leisure 0.3%** |
| McDonald's Corp. | &nbsp;&nbsp;3057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817442 |
| **Household Products 0.2%** | **Household Products 0.2%** | **Household Products 0.2%** |
| Procter & Gamble Co. (The) | &nbsp;&nbsp;2742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390406 |
| **Independent Power & Renewable Electricity Producers 0.1%** | **Independent Power & Renewable Electricity Producers 0.1%** | **Independent Power & Renewable Electricity Producers 0.1%** |
| RWE AG (Germany) | &nbsp;&nbsp;4833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215160 |
| **Insurance 0.3%** | **Insurance 0.3%** | **Insurance 0.3%** |
| MetLife, Inc. | 12309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898803 |

---

------

#### PGIM Income Builder Fund

#### Schedule of Investments as of January 31, 2023 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (Continued)** | **Common Stocks (Continued)** | **Common Stocks (Continued)** |
| **IT Services 0.3%** | **IT Services 0.3%** | **IT Services 0.3%** |
| International Business Machines Corp.(a) | &nbsp;&nbsp;5486 | &nbsp;&nbsp; $739129 |
| **Life Sciences Tools & Services 0.2%** | **Life Sciences Tools & Services 0.2%** | **Life Sciences Tools & Services 0.2%** |
| Danaher Corp. | &nbsp;&nbsp;2186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577935 |
| **Machinery 0.6%** | **Machinery 0.6%** | **Machinery 0.6%** |
| Caterpillar, Inc. | &nbsp;&nbsp;2225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561345 |
| Deere & Co. | &nbsp;&nbsp;1804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;762803 |
| Timken Co. (The) | &nbsp;&nbsp;3087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254215 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1578363 |
| **Metals & Mining 0.2%** | **Metals & Mining 0.2%** | **Metals & Mining 0.2%** |
| Newmont Corp. | 10416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551319 |
| **Mortgage Real Estate Investment Trusts (REITs) 0.3%** | **Mortgage Real Estate Investment Trusts (REITs) 0.3%** | **Mortgage Real Estate Investment Trusts (REITs) 0.3%** |
| Starwood Property Trust, Inc. | 39522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825615 |
| **Multi-Utilities 0.2%** | **Multi-Utilities 0.2%** | **Multi-Utilities 0.2%** |
| Ameren Corp. | &nbsp;&nbsp;4503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391176 |
| **Oil, Gas & Consumable Fuels 1.3%** | **Oil, Gas & Consumable Fuels 1.3%** | **Oil, Gas & Consumable Fuels 1.3%** |
| Arch Resources, Inc.(a) | &nbsp;&nbsp;4854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718489 |
| BP PLC (United Kingdom), ADR | &nbsp;&nbsp;4320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156514 |
| Exxon Mobil Corp. | 12272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1423675 |
| Phillips 66 | &nbsp;&nbsp;3526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353552 |
| Williams Cos., Inc. (The) | 23547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759155 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3411385 |
| **Pharmaceuticals 1.2%** | **Pharmaceuticals 1.2%** | **Pharmaceuticals 1.2%** |
| AstraZeneca PLC (United Kingdom), ADR | 22263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455332 |
| Bristol-Myers Squibb Co. | 14634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063160 |
| Eli Lilly & Co. | &nbsp;&nbsp;1752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602951 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3121443 |
| **Road & Rail 0.3%** | **Road & Rail 0.3%** | **Road & Rail 0.3%** |
| Canadian National Railway Co. (Canada) | &nbsp;&nbsp;3567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424794 |
| Union Pacific Corp. | &nbsp;&nbsp;1821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371830 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796624 |

---

------

#### PGIM Income Builder Fund

#### Schedule of Investments as of January 31, 2023 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks (Continued)** | **Common Stocks (Continued)** | **Common Stocks (Continued)** |
| **Software 0.1%** | **Software 0.1%** | **Software 0.1%** |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1038 | &nbsp;&nbsp; $257227 |
| **Specialty Retail 0.5%** | **Specialty Retail 0.5%** | **Specialty Retail 0.5%** |
| Foot Locker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;8753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380843 |
| O'Reilly Automotive, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;1002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793935 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1174778 |
| **Technology Hardware, Storage & Peripherals 0.2%** | **Technology Hardware, Storage & Peripherals 0.2%** | **Technology Hardware, Storage & Peripherals 0.2%** |
| Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;2978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429696 |
| Western Digital Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp;3419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150265 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579961 |
| **Total Common Stocks<br> (cost $27,216,860)** | **Total Common Stocks<br> (cost $27,216,860)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33788750 |
| **Exchange-Traded Funds 27.2%** | **Exchange-Traded Funds 27.2%** | **Exchange-Traded Funds 27.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Energy Select Sector SPDR Fund | &nbsp;&nbsp;55100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4955143 |
| &nbsp;&nbsp;&nbsp;&nbsp;Invesco Preferred ETF(a) | 641588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8116088 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares 0-5 Year High Yield Corporate Bond ETF | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1764420 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares iBoxx High Yield Corporate Bond ETF(a) | &nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3205860 |
| &nbsp;&nbsp;&nbsp;&nbsp;iShares Latin America 40 ETF(a) | &nbsp;&nbsp;50200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1279096 |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Active Aggregate Bond ETF(a)(g) | 475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20405573 |
| &nbsp;&nbsp;&nbsp;&nbsp;PGIM Active High Yield Bond ETF(g) | 906600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31449954 |
| **Total Exchange-Traded Funds<br> (cost $76,765,778)** | **Total Exchange-Traded Funds<br> (cost $76,765,778)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71176134 |
| **Preferred Stocks 1.0%** | **Preferred Stocks 1.0%** | **Preferred Stocks 1.0%** |
| **Auto Components 0.3%** | **Auto Components 0.3%** | **Auto Components 0.3%** |
| Aptiv PLC, Series A, CVT, 5.500%, Maturing 06/15/23 | &nbsp;&nbsp;&nbsp;&nbsp;4719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594547 |
| **Electric Utilities 0.3%** | **Electric Utilities 0.3%** | **Electric Utilities 0.3%** |
| NextEra Energy, Inc., CVT, 6.926%, Maturing 09/01/25 | &nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767200 |

---

------

#### PGIM Income Builder Fund

#### Schedule of Investments as of January 31, 2023 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Preferred Stocks (Continued)** | **Preferred Stocks (Continued)** | **Preferred Stocks (Continued)** |
| **Health Care Equipment & Supplies 0.4%** | **Health Care Equipment & Supplies 0.4%** | **Health Care Equipment & Supplies 0.4%** |
| Boston Scientific Corp., Series A, CVT, 5.500%, Maturing 06/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9616 | &nbsp;&nbsp; $1097474 |
| **Total Preferred Stocks<br> (cost $2,213,500)** | **Total Preferred Stocks<br> (cost $2,213,500)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2459221 |
| **Total Long-Term Investments<br> (cost $266,452,509)** | **Total Long-Term Investments<br> (cost $266,452,509)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260772858 |
| **Short-Term Investments 6.3%** | **Short-Term Investments 6.3%** | **Short-Term Investments 6.3%** |
| **Affiliated Mutual Funds** | **Affiliated Mutual Funds** | **Affiliated Mutual Funds** |
| PGIM Core Ultra Short Bond Fund | &nbsp;&nbsp;&nbsp;1706001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1706001 |
| PGIM Institutional Money Market Fund<br> (cost $14,707,872; includes $14,664,213 of cash collateral for securities on loan)(b) | &nbsp;&nbsp;14718777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14715834 |
| **Total Short-Term Investments<br> (cost $16,413,873)(wd)** | **Total Short-Term Investments<br> (cost $16,413,873)(wd)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16421835 |
| **TOTAL INVESTMENTS 106.0%<br> (cost $282,866,382)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277194693 |
| Liabilities in excess of other assets (6.0)% | Liabilities in excess of other assets (6.0)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15580768) |
| **Net Assets 100.0%** | **Net Assets 100.0%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$261613925 |

---

------

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

---

| |
|:---|
| ADR—American Depositary Receipt |
| CVT—Convertible Security |
| ETF—Exchange-Traded Fund |
| iBoxx—Bond Market Indices |
| MLP—Master Limited Partnership |
| REITs—Real Estate Investment Trust |
| SPDR—Standard & Poor's Depositary Receipts |

---

\* 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 $14,458,819; cash collateral of $14,664,213 (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.

(g) An affiliated security.

(wd) PGIM Investments LLC, the manager of the Fund, also serves as the manager of the underlying funds in which the Fund invests.

------

#### PGIM Income Builder Fund

#### Schedule of Investments as of January 31, 2023 (unaudited) (continued)
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 16

- **b. Investment Company Act file number:** 811-08915

- **c. CIK number of Registrant:** 0001067442

- **d. LEI of Registrant:** 549300SISFD2E4MXHE73

- **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 Income Builder Fund

- **b. EDGAR series identifier (if any):** S000004703

- **c. LEI of Series:** XYZMTQ00ME3ISOV4JP63

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $276417701.45

**Total Liabilities:** $14392659.30

**Net Assets:** $262025042.15

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000012793 | 5.63%                | -1.83%               | 4.35%                |
| Class ID C000012795 | 5.57%                | -1.96%               | 4.30%                |
| Class ID C000012792 | 5.61%                | -1.97%               | 4.35%                |
| Class ID C000012796 | 5.72%                | -1.90%               | 4.45%                |
| Class ID C000176454 | 5.60%                | -1.79%               | 4.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $298981.34               | $12761133.44                               |
| Month 2  | $-46913.90               | $-8041618.08                               |
| Month 3  | $-320782.45              | $11054794.63                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Energy Select Sector SPDR Fund                                                   | Energy Select Sector SPDR Fund                                                   | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Long             | EC               | RF                | US        |     55100 | NS      | $4955143.00   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                                                              | American Express Co                                                              | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      2760 | NS      | $482806.80    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                                                         | AT&T Inc                                                                         | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     49151 | NS      | $1001205.87   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                                                       | AbbVie Inc                                                                       | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     10439 | NS      | $1542362.25   | 0.59%             |  |  |  | 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        |  13409693 | NS      | $13407010.83  | 5.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                                                          | Bristol-Myers Squibb Co                                                          | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     14634 | NS      | $1063160.10   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                                                  | AstraZeneca PLC                                                                  | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     22263 | NS      | $1455332.31   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                                                                    | Timken Co/The                                                                    | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |      3087 | NS      | $254214.45    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust Inc                                                      | Starwood Property Trust Inc                                                      | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |     39522 | NS      | $825614.58    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Foot Locker Inc                                                                  | Foot Locker Inc                                                                  | CUSIP: 344849104<br>LEI: 549300X383CBNP6MTV94 | Long             | EC               | CORP              | US        |      4779 | NS      | $207934.29    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBoxx High Yield Corporate Bond ETF                                      | ISHARES IBOXX HIGH YLD CORP                                                      | CUSIP: 464288513<br>LEI: N/A                  | Long             | EC               | RF                | US        |     42000 | NS      | $3205860.00   | 1.22%             |  |  |  | No            |                  1 | On Loan: —       |
| Waste Management Inc                                                             | Waste Management Inc                                                             | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      2296 | NS      | $355260.08    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Raytheon Technologies Corp                                                       | Raytheon Technologies Corp                                                       | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     13050 | NS      | $1303042.50   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                                                                              | International Business Machines Corp                                             | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      5486 | NS      | $739128.78    | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| Phillips 66                                                                      | Phillips 66                                                                      | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      3526 | NS      | $353552.02    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                                                    | Welltower Inc                                                                    | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |      2053 | NS      | $154057.12    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                                                           | BP PLC                                                                           | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |      4320 | NS      | $156513.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian National Railway Co                                                     | Canadian National Railway Co                                                     | CUSIP: 136375102<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | EC               | CORP              | CA        |      3567 | NS      | $424794.03    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| J M Smucker Co/The                                                               | J M Smucker Co/The                                                               | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |      7593 | NS      | $1160210.40   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp                                                            | Truist Financial Corp                                                            | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      8625 | NS      | $425988.75    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                                                   | Microsoft Corp                                                                   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      1038 | NS      | $257226.78    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORP                                                           | Boston Scientific Corp                                                           | CUSIP: 101137206<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EP               | CORP              | US        |      9616 | NS      | $1097474.08   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                                                                       | Deere & Co                                                                       | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      1804 | NS      | $762803.36    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                                                                  | Caterpillar Inc                                                                  | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      2225 | NS      | $561345.25    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp                                                                 | FirstEnergy Corp                                                                 | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |      9925 | NS      | $406428.75    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Active High Yield Bond ETF                                                  | PGIM Active High Yield Bond ETF                                                  | CUSIP: 69344A206<br>LEI: 549300F10UK98WW68156 | Long             | EC               | RF                | US        |    906600 | NS      | $31449954.00  | 12.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                                                                 | Coca-Cola Co/The                                                                 | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      7246 | NS      | $444324.72    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Resources Inc                                                               | Arch Resources Inc                                                               | CUSIP: 03940R107<br>LEI: W47HVZ7Q6FXL86RELH91 | Long             | EC               | CORP              | US        |      4854 | NS      | $718489.08    | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| PGIM Real Estate Income Fund                                                     | PGIM Real Estate Income Fund                                                     | CUSIP: 74441J670<br>LEI: 5493003LKC8FFCBL1V58 | Long             | EC               | RF                | US        |   2677514 | NS      | $18983572.70  | 7.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The                                                               | Kraft Heinz Co/The                                                               | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     19724 | NS      | $799413.72    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                                                        | Amgen Inc                                                                        | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      4270 | NS      | $1077748.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Latin America 40 ETF                                                     | iShares Latin America 40 ETF                                                     | CUSIP: 464287390<br>LEI: 549300LU9LZBB8WGN795 | Long             | EC               | RF                | US        |     50200 | NS      | $1279096.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: —       |
| McDonald's Corp                                                                  | McDonald's Corp                                                                  | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      3057 | NS      | $817441.80    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Active Aggregate Bond ETF                                                   | PGIM Active Aggregate Bond ETF                                                   | CUSIP: 69344A701<br>LEI: 549300KFPDHWRO1PJP18 | Long             | EC               | RF                | US        |    475000 | NS      | $20405572.50  | 7.79%             |  |  |  | No            |                  1 | On Loan: —       |
| O'Reilly Automotive Inc                                                          | O'Reilly Automotive Inc                                                          | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      1002 | NS      | $793934.70    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                                                     | Danaher Corp                                                                     | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      2186 | NS      | $577934.68    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| APTIV PLC                                                                        | Aptiv PLC                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | IE        |      4719 | NS      | $594546.81    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                                                                 | Exxon Mobil Corp                                                                 | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     12272 | NS      | $1423674.72   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                                                        | Apple Inc                                                                        | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      2978 | NS      | $429695.62    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills Inc                                                                | General Mills Inc                                                                | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     15573 | NS      | $1220300.28   | 0.47%             |  |  |  | No            |                  1 | On Loan: —       |
| American Tower Corp                                                              | American Tower Corp                                                              | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |       880 | NS      | $196583.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The                                                             | Williams Cos Inc/The                                                             | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     23547 | NS      | $759155.28    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BCE Inc                                                                          | BCE Inc                                                                          | CUSIP: 05534B760<br>LEI: 5493001I9203PRB5KR45 | Long             | EC               | CORP              | CA        |     18012 | NS      | $851967.60    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Quant Solutions International Equity Fund                                   | PGIM Quant Solutions International Equity Fund                                   | CUSIP: 743969578<br>LEI: 2JUUEZVKFN5LVIB9E450 | Long             | EC               | RF                | US        |   5155071 | NS      | $34178122.69  | 13.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Trust Company Collective Trust-Prudential Core Conservative Bond Fund | Prudential Trust Company Collective Trust-Prudential Core Conservative Bond Fund | CUSIP: 74440E888<br>LEI: 549300VQ3ICK16NFQH95 | Long             | EC               | RF                | US        |   2467439 | NS      | $21713459.03  | 8.29%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      4496 | NS      | $629260.16    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PNM Resources Inc                                                                | PNM Resources Inc                                                                | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |     12271 | NS      | $607169.08    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                                                   | Eli Lilly & Co                                                                   | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1752 | NS      | $602950.80    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC                                                               | NextEra Energy Inc                                                               | CUSIP: 65339F713<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     16000 | NS      | $767200.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc                                                            | DuPont de Nemours Inc                                                            | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |      7231 | NS      | $534732.45    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp                                                             | Western Digital Corp                                                             | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |      3419 | NS      | $150265.05    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                                                                      | PepsiCo Inc                                                                      | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      3388 | NS      | $579415.76    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                                                                | Cisco Systems Inc                                                                | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      5543 | NS      | $269777.81    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Core Ultra Short Bond Fund                                                  | PGIM Core Ultra Short Bond Fund                                                  | CUSIP: 000000000<br>LEI: 1VRLPVAWKZCB406TIT84 | Long             | STIV             | RF                | US        |   1908718 | NS      | $1908718.27   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                                                               | Union Pacific Corp                                                               | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      1821 | NS      | $371829.99    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Jennison MLP Fund                                                           | PGIM Jennison MLP Fund                                                           | CUSIP: 74440G859<br>LEI: 549300YY9XZDGNGBPW42 | Long             | EC               | RF                | US        |   4347283 | NS      | $30996125.87  | 11.83%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Preferred ETF                                                            | Invesco Preferred ETF                                                            | CUSIP: 46138E511<br>LEI: 549300J11Q08WEERN210 | Long             | EC               | RF                | US        |    641588 | NS      | $8116088.20   | 3.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Walmart Inc                                                                      | Walmart Inc                                                                      | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      9233 | NS      | $1328351.71   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares 0-5 Year High Yield Corporate Bond ETF                                   | iShares 0-5 Year High Yield Corporate Bond ETF                                   | CUSIP: 46434V407<br>LEI: 549300R96U5WQ7R5ID10 | Long             | EC               | RF                | US        |     42000 | NS      | $1764420.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                                                     | Prologis Inc                                                                     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      8929 | NS      | $1154341.12   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                                                          | Procter & Gamble Co/The                                                          | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      2742 | NS      | $390405.96    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                                                                      | Ameren Corp                                                                      | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |      4503 | NS      | $391175.61    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Emerging Markets Debt Har                                                   | PGIM Emerging Markets Debt Har                                                   | CUSIP: 743969453<br>LEI: 5493008RPBIYQYY8NR30 | Long             | EC               | RF                | US        |   6407493 | NS      | $44339850.75  | 16.92%            |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                                                                     | Entergy Corp                                                                     | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      1724 | NS      | $186674.72    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc                                                              | Electronic Arts Inc                                                              | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      7030 | NS      | $904620.40    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PGIM Quant Solutions Emerging Markets Equity Fund                                | PGIM Quant Solutions Emerging Markets Equity Fund                                | CUSIP: 74440E706<br>LEI: 549300IYN8M51Z504A71 | Long             | EC               | RF                | US        |    263649 | NS      | $2863222.83   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                                                                     | Newmont Corp                                                                     | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     10416 | NS      | $551318.88    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| RWE AG                                                                           | RWE AG                                                                           | CUSIP: 000000000<br>LEI: 529900GB7KCA94ACC940 | Long             | EC               | CORP              | DE        |      4833 | NS      | $215159.82    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| MetLife Inc                                                                      | MetLife Inc                                                                      | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     12309 | NS      | $898803.18    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-22

**Name of Applicant:** Prudential Investment Portfolios 16

**Signature:** Christian J. Kelly

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

**Title:** Chief Financial Officer