PGIM Select Real Estate Fund

Schedule of Investments as of January 31, 2022 (unaudited)

Description	Shares		Value
Long-Term Investments 99.3%
Common Stocks
Diversified Real Estate Activities 6.1%
Capitaland Investment Ltd. (Singapore)*		1,869,285	$4,811,571
Mitsui Fudosan Co. Ltd. (Japan)		522,791	11,263,594
Sun Hung Kai Properties Ltd. (Hong Kong)		455,532	5,570,060
			21,645,225
Diversified REITs 3.5%
Daiwa House REIT Investment Corp. (Japan)		2,510	7,480,931
Essential Properties Realty Trust, Inc.		190,661	5,062,049
			12,542,980
Health Care REITs 6.2%
Healthcare Trust of America, Inc. (Class A Stock)		129,315	4,209,203
Welltower, Inc.		205,734	17,822,737
			22,031,940
Hotel & Resort REITs 6.5%
Invincible Investment Corp. (Japan)		16,976	5,364,424
Japan Hotel REIT Investment Corp. (Japan)		7,962	3,888,923
Park Hotels & Resorts, Inc.*		333,252	6,065,186
Pebblebrook Hotel Trust		195,696	4,236,818
Xenia Hotels & Resorts, Inc.*		207,105	3,591,201
			23,146,552
Industrial REITs 16.2%
Nippon Prologis REIT, Inc. (Japan)		947	2,958,132
Prologis, Inc.		129,669	20,334,693
Rexford Industrial Realty, Inc.		231,642	16,949,245
Segro PLC (United Kingdom)		731,488	12,859,359
Summit Industrial Income REIT (Canada)		259,961	4,417,384
			57,518,813
Office REITs 1.3%
Nippon Building Fund, Inc. (Japan)		794	4,609,408
Real Estate Operating Companies 9.0%
Fastighets AB Balder (Sweden) (Class B Stock)*		58,293	3,848,818
Kojamo OYJ (Finland)		300,123	6,860,696
Pandox AB (Sweden)*		383,934	5,564,329

1

PGIM Select Real Estate Fund

Schedule of Investments as of January 31, 2022 (unaudited) (continued)

Description	Shares		Value
Common Stocks (Continued)
Real Estate Operating Companies (cont’d.)
VGP NV (Belgium)		27,801	$7,898,847
Vonovia SE (Germany)		70,683	4,014,834
Wharf Real Estate Investment Co. Ltd. (Hong Kong)		761,769	3,619,295
			31,806,819
Residential REITs 17.5%
American Homes 4 Rent (Class A Stock)		126,498	4,949,867
Camden Property Trust		86,352	13,824,092
Equity Residential		216,966	19,251,393
Essex Property Trust, Inc.		25,621	8,518,982
Ingenia Communities Group (Australia)		1,438,676	5,638,686
InterRent Real Estate Investment Trust (Canada)		415,559	5,211,038
Invitation Homes, Inc.		108,846	4,569,355
			61,963,413
Retail REITs 15.9%
Acadia Realty Trust		355,296	7,031,308
Capital & Counties Properties PLC (United Kingdom)		2,477,801	5,726,877
Kimco Realty Corp.		345,893	8,391,364
Link REIT (Hong Kong)		532,376	4,576,664
Macerich Co. (The)		406,651	6,726,007
NETSTREIT Corp.		207,829	4,696,935
Phillips Edison & Co., Inc.		116,438	3,670,126
Simon Property Group, Inc.		63,720	9,379,584
Unibail-Rodamco-Westfield (France)*		78,043	5,938,023
			56,136,888
Specialized REITs 17.1%
Big Yellow Group PLC (United Kingdom)		227,236	4,571,589
CubeSmart		128,331	6,511,515
Digital Core REIT Management Pte Ltd. (Singapore)*		3,403,791	3,982,436
EPR Properties		146,621	6,446,925
Equinix, Inc.		10,971	7,952,878
Gaming & Leisure Properties, Inc.		99,852	4,511,313
Life Storage, Inc.		147,700	19,932,115
National Storage REIT (Australia)		3,688,785	6,465,085
			60,373,856
Total Long-Term Investments (cost $322,847,919)			351,775,894

2

PGIM Select Real Estate Fund

Schedule of Investments as of January 31, 2022 (unaudited) (continued)

Description	Shares		Value
Short-Term Investment 0.8%
Unaffiliated Fund
Dreyfus Government Cash Management (Institutional Shares) (cost $2,700,766)		2,700,766	$2,700,766
TOTAL INVESTMENTS 100.1% (cost $325,548,685)			354,476,660
Liabilities in excess of other assets (0.1)%			(403,054)
Net Assets 100.0%			$354,073,606

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.

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).

3