NPORT-EX 2 PI62530JennisonPt.htm
JENNISON PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
Long-Term Investments — 98.2%
Common Stocks
Aerospace & Defense — 1.0%
Boeing Co. (The)
126,052   $18,799,395
Automobiles — 3.1%
Tesla, Inc.*(a)
115,358   60,447,592
Beverages — 0.7%
Constellation Brands, Inc. (Class A Stock)
96,046   13,769,155
Biotechnology — 2.2%
BioMarin Pharmaceutical, Inc.*
175,186   14,803,217
Vertex Pharmaceuticals, Inc.*
123,231   29,322,816
            44,126,033
Capital Markets — 2.1%
Goldman Sachs Group, Inc. (The)
126,013   19,480,350
S&P Global, Inc.
93,702   22,961,675
            42,442,025
Entertainment — 4.4%
Netflix, Inc.*
232,867   87,441,558
Equity Real Estate Investment Trusts (REITs) — 1.1%
American Tower Corp.
97,510   21,232,803
Food & Staples Retailing — 2.1%
Costco Wholesale Corp.
142,582   40,654,406
Health Care Equipment & Supplies — 2.1%
Boston Scientific Corp.*
423,746   13,826,832
DexCom, Inc.*
71,924   19,366,975
Intuitive Surgical, Inc.*
18,395   9,109,388
            42,303,195
Health Care Providers & Services — 0.8%
Guardant Health, Inc.*(a)
91,578   6,373,829
Humana, Inc.
33,018   10,368,312
            16,742,141
Hotels, Restaurants & Leisure — 0.8%
Chipotle Mexican Grill, Inc.*(a)
24,665   16,140,776
Interactive Media & Services — 9.1%
Alphabet, Inc. (Class A Stock)*
46,176   53,654,203
Alphabet, Inc. (Class C Stock)*
46,067   53,567,168
Facebook, Inc. (Class A Stock)*
328,862   54,854,182
Tencent Holdings Ltd. (China)
391,883   19,284,324
            181,359,877
Internet & Direct Marketing Retail — 10.9%
Alibaba Group Holding Ltd. (China), ADR*
373,606   72,658,895
Amazon.com, Inc.*
73,334   142,980,766
            215,639,661
IT Services — 12.9%
Adyen NV (Netherlands), 144A*
38,770   32,944,873
FleetCor Technologies, Inc.*
76,562   14,281,875
Mastercard, Inc. (Class A Stock)
314,435   75,954,919
PayPal Holdings, Inc.*
245,427   23,497,181
      Shares   Value
Common Stocks (continued)
IT Services (cont’d.)
Shopify, Inc. (Canada) (Class A Stock)*(a)
58,535   $24,404,998
Twilio, Inc. (Class A Stock)*(a)
167,633   15,001,477
Visa, Inc. (Class A Stock)(a)
436,552   70,337,258
            256,422,581
Life Sciences Tools & Services — 0.6%
Illumina, Inc.*
45,946   12,548,772
Personal Products — 1.8%
Estee Lauder Cos., Inc. (The) (Class A Stock)
220,400   35,118,536
Pharmaceuticals — 4.4%
AstraZeneca PLC (United Kingdom), ADR
998,109   44,575,548
Eli Lilly & Co.
311,587   43,223,349
            87,798,897
Road & Rail — 2.2%
Uber Technologies, Inc.*
965,732   26,963,237
Union Pacific Corp.
115,718   16,320,867
            43,284,104
Semiconductors & Semiconductor Equipment — 4.9%
Advanced Micro Devices, Inc.*
121,507   5,526,138
Broadcom, Inc.
52,554   12,460,553
NVIDIA Corp.
261,891   69,034,468
QUALCOMM, Inc.
146,138   9,886,236
            96,907,395
Software — 19.3%
Adobe, Inc.*
201,760   64,208,102
Atlassian Corp. PLC (Class A Stock)*
54,866   7,530,907
Coupa Software, Inc.*(a)
107,570   15,030,756
Microsoft Corp.
821,234   129,516,814
RingCentral, Inc. (Class A Stock)*
35,761   7,578,114
salesforce.com, Inc.*
530,082   76,321,206
ServiceNow, Inc.*
77,388   22,177,853
Splunk, Inc.*(a)
230,311   29,072,158
Trade Desk, Inc. (The) (Class A Stock)*(a)
44,561   8,600,273
Workday, Inc. (Class A Stock)*
180,099   23,452,492
            383,488,675
Specialty Retail — 1.6%
Home Depot, Inc. (The)
166,451   31,078,066
Technology Hardware, Storage & Peripherals — 4.9%
Apple, Inc.
378,495   96,247,494
Textiles, Apparel & Luxury Goods — 5.2%
Kering SA (France)
64,477   33,648,196
Lululemon Athletica, Inc.*
190,764   36,159,316
NIKE, Inc. (Class B Stock)
398,389   32,962,706
            102,770,218
 
Total Long-Term Investments

(cost $994,649,924)
  1,946,763,355
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JENNISON PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2020 (unaudited)
      Shares   Value
 
Short-Term Investments — 13.1%
Affiliated Mutual Funds
PGIM Core Ultra Short Bond Fund(w)
37,417,386   $37,417,386
PGIM Institutional Money Market Fund

(cost $222,759,664; includes $222,574,772 of cash collateral for securities on loan)(b)(w)
223,286,703   222,929,445
 
Total Short-Term Investments

(cost $260,177,050)
  260,346,831
 
TOTAL INVESTMENTS—111.3%

(cost $1,254,826,974)
  2,207,110,186
 
Liabilities in excess of other assets — (11.3)%
  (224,485,307)
 
Net Assets — 100.0%
  $1,982,624,879
    
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
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.
ADR American Depositary Receipt
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 $215,708,318; cash collateral of $222,574,772 (included in liabilities) was received with which the Portfolio purchased highly liquid short-term investments.
(b) Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment.
(w) PGIM Investments LLC, the manager of the Portfolio, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund.
 
Other information regarding the Portfolio is available in the Portfolio’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
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