NPORT-EX 1 PIP_6_California.htm for N-PORT filing
PGIM California Muni Income Fund
Schedule of Investments as of May 31, 2019 (unaudited)
Description Interest
Rate 		Maturity
Date 		PrincipalAmount (000)# Value
Long-Term Investments 99.8%
Municipal Bonds 
Abag Fin. Auth. For Nonprofit Corp. Rev.,          
Episcopal Senior Communities, Rfdg. 6.125 % 07/01/41   475  $ 512,259
Sharp Healthcare, Series A 5.000 08/01/43   2,000 2,233,060
Alameda Corridor Trans. Auth. Rev.,          
Sub. Lien, Series B, Rfdg. 5.000 10/01/34   2,150 2,499,353
Sub. Lien, Series B, Rfdg. 5.000 10/01/37   1,700 1,960,032
     
 
Anaheim Calif. Pub. Fin. Auth. Rev.,
Series A, Rfdg. 		5.000 05/01/39   1,000 1,140,640
Bay Area Toll Auth. Rev.,          
Series F-1 5.000 04/01/56   1,000 1,162,920
Series F-1, Rfdg. 5.000 04/01/54   1,000 1,126,610
California Cnty. Tob. Secur. Agcy. Rev.,          
Asset-Bkd. 5.450 06/01/28   500 507,565
Tob. Conv. Bonds, LA Cnty. Series B (Converted to Fixed on 12/01/10) 5.250 06/01/21   1,160 1,176,194
Tob. Conv. Bonds, Series B (Converted to Fixed on 12/01/08) 5.100 06/01/28   1,035 1,035,321
California Edl. Facs. Auth. Rev.,          
Loyola Marymount Univ., Series A 5.125 10/01/40   1,000 1,014,000
Pepperdine Univ., Rfdg. 5.000 10/01/49   2,000 2,327,860
Stanford Univ., Series V-1 5.000 05/01/49   1,500 2,209,575
California Hlth. Facs. Fing. Auth. Rev.,          
Cedars Sinai Med. Ctr., Rfdg. 5.000 11/15/33   1,000 1,189,310
Kaiser Permanente, Sub., Series A-2 4.000 11/01/44   3,045 3,313,813
Providence Hlth., Series B 5.500 10/01/39   1,500 1,519,335
Scripps Hlth., Series A 5.000 11/15/36   1,200 1,219,668
St. Joseph Hlth. Sys., Series A 5.750 07/01/39   1,000 1,003,140
Stanford Healthcare, Series A, Rfdg. 5.000 08/15/54   1,000 1,132,750
Stanford Hosp., Series A-3, Rfdg. (Pre-refunded date 11/15/21)(ee) 5.500 11/15/40   500 550,670
Sutter Hlth., Series A, Rfdg. 4.000 11/15/48   700 758,933
Sutter Hlth., Series A, Rfdg. 5.000 08/15/43   1,500 1,715,595
Sutter Hlth., Series B, Rfdg. 4.000 11/15/41   130 140,768
Sutter Hlth., Series D, Rfdg. 5.250 08/15/31   1,000 1,079,800
California Muni. Fin. Auth. Rev.,          
Amern. Heritage Ed., Series A, Rfdg. 4.000 06/01/26   480 507,528
CHF-Davis I, LLC-West Village Proj. 5.000 05/15/51   1,000 1,162,650
Series A, 144A 5.500 06/01/48   250 275,235
Sr. Lien-LINXS APM Proj., Series A, AMT 5.000 12/31/43   1,500 1,741,080
Sr. Lien-LINXS APM Proj., Series A, AMT 5.000 12/31/47   2,500 2,891,150
Var. Exxonmobil Proj., Rfdg., FRDD 1.650(cc) 12/01/29   4,100 4,100,000
California Poll. Ctrl. Fing. Auth. Wtr. Facs. Rev.,          
Amern. Wtr. Cap. Corp. Proj., 144A 5.250 08/01/40   1,250 1,306,238
Green Bond-Calplant I Proj., AMT, 144A 7.000 07/01/22   250 258,518
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PGIM California Muni Income Fund
Schedule of Investments as of May 31, 2019 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		PrincipalAmount (000)# Value
Municipal Bonds (Continued)
California Poll. Ctrl. Fing. Auth. Wtr. Facs. Rev., (cont’d.)          
Green Bond-Calplant I Proj., AMT, 144A 8.000 % 07/01/39   500   $549,800
     
 
California Pub. Fin. Auth. Rev.,
Sharp Healthcare, Series A 		4.000 08/01/47   2,025 2,194,695
California Sch. Fin. Auth. Chrt. Sch. Rev.,          
Alliance CLG-Ready Pub. Schs., Series A, 144A 5.000 07/01/45   1,000 1,105,640
Alliance CLG-Ready Pub. Schs., Series A, Rfdg., 144A 4.000 07/01/26   300 328,164
Aspire Pub. Schs., Series A, Rfdg., 144A 5.000 08/01/40   2,000 2,210,760
Aspire Pub. Schs., Series A, Rfdg., 144A 5.000 08/01/46   1,000 1,103,190
Green Dot Pub. Sch. Proj., Series A, 144A 5.000 08/01/45   610 674,489
Kipp. LA. Proj., Series A, 144A 5.000 07/01/45   1,000 1,111,380
Kipp. LA. Proj., Series A, 144A 5.000 07/01/47   1,000 1,142,550
Kipp. Socal Pub. Schs., Series A 5.000 07/01/49   1,000 1,170,240
Summit Pub. Schs., 144A 5.000 06/01/47   1,000 1,132,070
California St.,          
GO 3.250 04/01/45   1,000 1,024,790
GO 5.000 03/01/45   2,000 2,307,860
GO 5.000 08/01/46   1,500 1,763,355
GO 5.250 11/01/40   750 788,888
GO, Rfdg. 5.000 08/01/45   1,500 1,746,195
Unrefunded Balance, GO 5.500 04/01/30   5 5,015
Var. Purp., GO 4.000 04/01/49   2,000 2,207,260
Var. Purp., GO 5.000 09/01/41   5,000 5,385,400
Var. Purp., GO 5.000 10/01/41   1,250 1,349,875
Var. Purp., GO 5.000 10/01/47   2,000 2,330,800
Var. Purp., GO 5.250 04/01/35   1,250 1,375,187
Var. Purp., GO 5.500 11/01/39   1,000 1,016,120
Var. Purp., GO 5.500 03/01/40   2,000 2,058,740
Var. Purp., GO 6.000 03/01/33   2,750 2,844,600
Var. Purp., GO 6.000 11/01/39   1,500 1,528,335
     
 
California St. Pub. Wks. Brd. Lease Rev.,
Judicial Council Projs., Series D 		5.000 12/01/31   1,000 1,083,880
California St. Univ. Rev.,
Series A, Systemwide 		5.000 11/01/37   1,250 1,346,800
California Statewide Cmntys. Dev. Auth. Rev.,          
899 Charleston Proj., Series A, Rfdg., 144A 5.250 11/01/44   250 273,570
Cottage Hlth. 5.000 11/01/40   1,000 1,037,420
Green Marin General Hosp. Proj., Series A 4.000 08/01/45   1,250 1,292,025
John Muir Hlth, Series A, Rfdg. 5.000 12/01/53   950 1,105,857
Loma Linda Univ. Med. Ctr., Series A 5.250 12/01/44   1,085 1,195,963
Loma Linda Univ. Med. Ctr., Series A, 144A 5.250 12/01/56   1,000 1,114,630
Loma Linda Univ. Med. Ctr., Series A, 144A 5.500 12/01/58   500 578,475
Methodist Hosp. of Southern CA Proj. 5.000 01/01/33   240 283,836
Methodist Hosp. of Southern CA Proj. 5.000 01/01/48   1,975 2,277,214
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PGIM California Muni Income Fund
Schedule of Investments as of May 31, 2019 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		PrincipalAmount (000)# Value
Municipal Bonds (Continued)
California Statewide Cmntys. Dev. Auth. Rev., (cont’d.)          
Polytechnic Sch. 5.000 % 12/01/34   2,000  $ 2,032,960
Presbyterian Homes, 144A 7.250 11/15/41   500 511,980
Spl. Tax No. 97-1, CABS 7.249(s) 09/01/22   1,025 855,721
Sutter Hlth., Series A (Pre-refunded date 08/15/20)(ee) 6.000 08/15/42   2,000 2,111,020
     
 
Chula Vista Calif. Indl. Dev. Rev.,
San Diego Gas, Series D, Rmkt. 		5.875 01/01/34   1,000 1,003,500
Chula Vista Muni. Fing. Auth.,
Spt.Tax Rfdg. 		5.000 09/01/21   500 537,945
City of La Verne CA,
Brethren Hillcrest Homes, COP, Rfdg. 		5.000 05/15/36   1,250 1,310,463
Fontana Spl. Tax,
Cmnty. Facs. Dist. #22 Sierra Hills, Rfdg. 		5.000 09/01/34   500 555,060
Golden St. Tob. Secur. Corp. Rev.,          
Series A-1, Rfdg. 5.000 06/01/27   680 812,240
Series A-1, Rfdg. 5.000 06/01/28   1,215 1,440,273
Series A-1, Rfdg. 5.000 06/01/29   1,250 1,472,125
Series A-1, Rfdg. 5.250 06/01/47   1,000 1,006,310
     
 
Guam Intl. Arpt. Auth. Rev.,
Series C, AMT 		6.375 10/01/43   500 579,965
Inland Vlly. Dev. Agcy.,
Tax Alloc., Series A, Rfdg. 		5.000 09/01/44   500 560,490
Jurupa Pub. Fing. Auth.,
Series A, Rfdg. 		5.000 09/01/42   1,250 1,414,112
La Mesa-Spring Vly. Sch. Dist.,
GO, Election of 2002, Series B, CABS, NATL 		5.029(s) 08/01/23   2,000 1,850,980
Lincoln Pub. Fing., Auth. Spl. Assmt.,
Twelve Bridges Sub. Dist., Series B 		6.000 09/02/27   1,000 1,099,380
Long Beach Bond Fin. Auth. Nat. Gas Pur. Rev.,          
Series A 5.000 11/15/35   2,560 3,300,915
Series A 5.500 11/15/30   1,375 1,790,800
Series A 5.500 11/15/32   440 580,848
Los Angeles Calif. Dept. Arpts. Rev.,          
Series A, AMT 5.000 05/15/38   2,500 2,771,400
Series A, AMT 5.250 05/15/48   1,000 1,213,690
Series A, AMT, Rfdg. 4.000 05/15/44   1,000 1,093,600
Series A, AMT, Rfdg. 5.000 05/15/43   1,000 1,210,070
     
 
Los Angeles Cnty. Regional Fing. Auth. Rev.,
Montecedro, Inc. Proj., Series A 		5.000 11/15/44   1,250 1,383,375
Los Angeles Dept. of Wtr. Rev.,          
Wtr. Sys., Series A 4.000 06/01/42   1,500 1,627,860
Wtr. Sys., Series B 5.000 07/01/34   2,500 2,836,125
     
 
Metro. Wtr. Dist. of Southern Calif. Rev.,
Unrefunded Balance, Series A 		5.750 07/01/21   1,940 2,003,826
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PGIM California Muni Income Fund
Schedule of Investments as of May 31, 2019 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		PrincipalAmount (000)# Value
Municipal Bonds (Continued)
     
M-S-R Energy Auth. Rev.,
Series A 		6.500 % 11/01/39   1,000  $ 1,500,610
Northern Calif. Transmission Agy. Rev.,
Calif.- Oregon Proj., Series A, Rfdg. 		5.000 05/01/39   750 878,198
Orange Cnty. Cmnty. Facs. Dist. Spl. Tax,          
No. 2015-1 Esencia Vlg., Series A 5.250 08/15/45   2,200 2,475,286
No. 2017-1 Esencia Vlg., Series A 5.000 08/15/47   1,500 1,732,980
     
 
Orange Cnty. Trans. Auth. Rev.,
Express Lane Sr. Lien 91, Rfdg. 		5.000 08/15/29   1,000 1,132,630
Palomar Pomerado Healthcare Dist.,
COP (Pre-refunded date 11/01/20)(ee) 		6.000 11/01/41   1,200 1,277,388
Pittsburg Redev. Agy. Tax Alloc. Rev.,
Sub., Series A, Rfdg., AGM 		5.000 09/01/29   1,750 2,106,317
Pittsburg Success Agy. Redev. Agy. Tax Alloc.,
Los Medanos Cmnty. Dev. Proj., AMBAC, CABS 		6.199(s) 08/01/26   1,375 1,160,995
Port of Oakland Rev.,          
Series O, Rfdg., AMT 5.125 05/01/30   1,000 1,062,110
Sr. Lien., Series P, Rfdg., AMT 5.000 05/01/33   1,750 1,897,997
     
 
Poway Uni. Sch. Dist. Pub. Fing. Auth.,
Spl. Tax Series A, Rfdg. 		5.000 09/01/35   1,000 1,123,960
Puerto Rico Comnwlth. Aqu. & Sew. Auth.,          
Sr. Lien, Series A, Rfdg. 5.750 07/01/37   390 393,900
Sr. Lien, Series A, Rfdg. 6.000 07/01/47   325 329,063
Puerto Rico Sales Tax Fing. Corp. Rev.,          
Series A-1, CABS 3.872(s) 07/01/24   607 513,055
Series A-1, CABS 4.201(s) 07/01/27   1,130 856,585
     
 
Rancho Cucamonga Redev. Agy. Successor Agy. Tax Alloc.,
Rancho Redev. Proj. Area, AGM 		5.000 09/01/32   450 519,381
Redding Elec. Sys. Rev., RIBS,          
NATL, ETM, Rfdg.(ee)(e) 8.502(cc) 07/01/22   975 1,107,425
NATL, ETM, Rfdg., Linked SAVRS(ee) 6.368 07/01/22   35 37,377
     
 
Riverside Cnty. Infrast. Fing. Auth. Rev.,
Series A, Rfdg. 		4.000 11/01/37   1,250 1,352,812
Riverside Cnty. Pub. Fing. Auth. Rev.,
Cap. Facs. Proj. 		5.250 11/01/45   1,000 1,182,430
Riverside Cnty. Trans. Commission Rev.,
Sr. Lien, Series A 		5.750 06/01/44   500 553,550
Roseville Spl. Tax,
WestPark Cmnty. Facs. Dist. No. 1, Pub. Facs., Rfdg. 		5.000 09/01/37   500 560,445
Sacramento Area Flood Control Agy. Spl. Assessment,
Series A, Rfdg. 		5.000 10/01/41   1,000 1,181,090
Sacramento Cnty. Arpts. Sys. Rev.,
Series C, Rfdg., AMT 		5.000 07/01/39   1,000 1,196,990
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PGIM California Muni Income Fund
Schedule of Investments as of May 31, 2019 (unaudited) (continued)
Description Interest
Rate 		Maturity
Date 		PrincipalAmount (000)# Value
Municipal Bonds (Continued)
Sacramento Cnty. Santn. Dist. Fing. Auth. Rev.,          
Cmnty. Facs. Dist. #2004-1, Mcclellan Park, Rfdg. 5.000 % 09/01/40   1,085  $ 1,236,325
Var.-Regl., Series B, NATL, 3 Month LIBOR + 0.530% 2.290(c) 12/01/35   1,000 981,490
San Buenaventura Rev.,          
Cmnty. Mem. Hlth. Sys. 7.500 12/01/41   500 556,275
Cmnty. Mem. Hlth. Sys. 8.000 12/01/26   500 569,105
     
 
San Diego Cmnty. College Dist.,
Election of 2006, GO (Pre-refunded date 08/01/21)(ee) 		5.000 08/01/41   1,500 1,621,740
San Diego Cnty. Regl. Arpt. Auth. Rev.,
Sr. Series B, AMT 		5.000 07/01/43   2,000 2,211,340
San Diego Pub. Facs. Fing. Auth. Rev.,
Cap. Impt. Projs., Series A 		5.000 10/15/44   1,000 1,167,150
San Francisco City & Cnty. Arpts. Comm. Rev.,          
Second Series A, AMT 5.250 05/01/33   500 564,055
Second Series A, Rfdg., AMT 5.000 05/01/31   1,000 1,087,010
Second Series A, Rfdg., AMT 5.000 01/01/47   1,000 1,189,250
Second Series C, Rfdg., AMT 5.000 05/01/25   1,555 1,653,711
Second Series F, Rfdg., AMT 5.000 05/01/28   1,000 1,061,920
Series A, Rfdg., AMT 4.000 05/01/49   1,000 1,093,400
Series A, Rfdg., AMT 5.000 05/01/49   1,500 1,798,425
     
 
San Leandro Cmnty. Facs.,
Spl. Tax Dist. No. 1 		6.500 09/01/25   2,160 2,164,082
Santa Margarita Wtr. Dist. Spl. Tax,
Cmnty. Facs. Dist. No. 2013-1 		5.625 09/01/36   325 357,026
Santa Maria Joint Union H.S. Dist.,
Election of 2004, CABS, GO, NATL 		4.980(s) 08/01/29   1,250 977,888
Santa Monica Cmnty. College Dist. Election of 2002,
Series A, GO, NATL 		7.753(s) 08/01/28   1,055 881,579
South Bayside Wste. Mgmt. Auth., Rev.,
Solid Waste Enterprise Shoreway Environmental, Series A 		6.000 09/01/36   500 505,290
Stockton Pub. Fing. Auth. Rev.,
Delta Wtr. Sply. Proj., Series A, Rmkt. 		6.250 10/01/40   700 830,340
Walnut Energy Ctr. Auth. Rev.,
Rfdg. 		5.000 01/01/34   1,000 1,147,940
 
TOTAL INVESTMENTS 99.8%
(cost $173,312,404) 		185,571,586
Other assets in excess of liabilities 0.2% 423,214
 
Net Assets 100.0% $ 185,994,800
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PGIM California Muni Income Fund
Schedule of Investments as of May 31, 2019 (unaudited) (continued)
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.
  AGM—Assured Guaranty Municipal Corp.
  AMBAC—American Municipal Bond Assurance Corp.
  AMT—Alternative Minimum Tax
  CABS—Capital Appreciation Bonds
  COP—Certificates of Participation
  ETM—Escrowed to Maturity
  FRDD—Floating Rate Daily Demand Note
  GO—General Obligation
  LIBOR—London Interbank Offered Rate
  NATL—National Public Finance Guaranty Corp.
  Rfdg—Refunding
  RIBS—Residual Interest Bonds
  SAVRS—Select Auction Variable Rate Securities
    
# Principal amount is shown in U.S. dollars unless otherwise stated.
(c) Variable rate instrument. The interest rate shown reflects the rate in effect at May 31, 2019.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of May 31, 2019. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description.
(e) Inverse floating rate bond. The coupon is inversely indexed to a floating rate. The rate shown is the rate at May 31, 2019.
(ee) All or partial escrowed to maturity and pre-refunded issues are secured by escrowed cash, a guaranteed investment contract and /or U.S. guaranteed obligations.
(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.
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).
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