UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number:	811-01660
Exact name of registrant as specified in charter:	Prudential’s Gibraltar Fund, Inc.
Address of principal executive offices:	Gateway Center 3,
	100 Mulberry Street,
	Newark, New Jersey 07102
Name and address of agent for service:	Deborah A. Docs
	Gateway Center 3,
	100 Mulberry Street,
	Newark, New Jersey 07102
Registrant’s telephone number, including area code:	973-367-7521
Date of fiscal year end:	12/31/2008
Date of reporting period:	3/31/2008

Item 1. Schedule of Investments

PRUDENTIAL’S GIBRALTAR FUND, INC.

SCHEDULE OF INVESTMENTS as of March 31, 2008 (Unaudited)

	Shares	Value
LONG-TERM INVESTMENTS — 97.2%
COMMON STOCKS
Aerospace & Defense — 3.8%
Raytheon Co.	62,600	$	4,044,586
United Technologies Corp.	52,500		3,613,050
			7,657,636
Beverages — 4.2%
Coca-Cola Co. (The)	69,700		4,242,639
PepsiCo, Inc.	56,300		4,064,860
			8,307,499
Biotechnology — 3.9%
Genentech, Inc.(a)	96,700		7,850,106
Capital Markets — 7.1%
Charles Schwab Corp. (The)	388,800		7,321,104
Goldman Sachs Group, Inc.	12,200		2,017,758
Lazard Ltd., “Class A”	87,200		3,331,040
Merrill Lynch & Co., Inc.	34,600		1,409,604
			14,079,506
Chemicals — 4.4%
Monsanto Co.	78,900		8,797,350
Communications Equipment — 7.4%
Cisco Systems, Inc.(a)	330,400		7,959,336
Nokia OYJ (ADR)(Finland)	102,700		3,268,941
QUALCOMM, Inc.	83,500		3,423,500
			14,651,777
Computers & Peripherals — 6.6%
Apple, Inc.(a)	37,800		5,424,300
Hewlett-Packard Co.	169,100		7,721,106
			13,145,406
Diversified Consumer Services — 1.9%
Visa, Inc., “Class A”	62,000		3,866,320
Diversified Financial Services — 1.3%
NYSE Euronext	42,000		2,591,820
Electrical Equipment — 1.0%
ABB Ltd. (ADR)(Switzerland)	71,300		1,919,396

Energy Equipment & Services — 1.2%
Schlumberger Ltd.	26,700	2,322,900
Food & Staples Retailing — 6.0%
Costco Wholesale Corp.	78,300	5,087,151
CVS Caremark Corp.	81,600	3,305,616
Whole Foods Market, Inc.	109,700	3,616,809
		12,009,576
Health Care Equipment & Supplies — 6.8%
Alcon, Inc.	37,700	5,362,825
Baxter International, Inc.	80,200	4,637,164
St. Jude Medical, Inc.(a)	83,400	3,602,046
		13,602,035
Hotels, Restaurants & Leisure — 6.5%
Burger King Holdings, Inc.	233,700	6,464,142
International Game Technology	47,200	1,897,912
Marriott International, Inc., “Class A”	134,700	4,628,292
		12,990,346
Household Products — 3.7%
Colgate-Palmolive Co.	95,200	7,417,032
Industrial Conglomerates — 2.2%
General Electric Co.	120,300	4,452,303
Internet Software & Services — 3.2%
Google, Inc., “Class A”(a)	14,400	6,342,768
Life Sciences Tools & Services — 2.2%
Thermo Fisher Scientific, Inc.(a)	76,700	4,359,628
Media — 2.8%
Walt Disney Co.	178,400	5,598,192
Oil, Gas & Consumable Fuels — 4.0%
Marathon Oil Corp.	64,900	2,959,440
Occidental Petroleum Corp.	44,800	3,278,016
Southwestern Energy Co.(a)	52,600	1,772,094
		8,009,550
Pharmaceuticals — 8.1%
Abbott Laboratories	127,100	7,009,565
Merck & Co., Inc.	77,500	2,941,125
Teva Pharmaceutical Industries Ltd. (ADR)(Israel)	85,800	3,963,102
Wyeth	46,300	1,933,488
		15,847,280
Software — 5.4%
Adobe Systems, Inc.(a)	105,200	3,744,068

Microsoft Corp.	250,400		7,106,352
			10,850,420
Textiles, Apparel & Luxury Goods — 3.5%
NIKE, Inc., “Class B”	103,200		7,017,600
TOTAL LONG-TERM INVESTMENTS (cost $163,414,289)			193,686,446
SHORT-TERM INVESTMENT — 2.3%
Affiliated Mutual Fund — 2.3%
Dryden Core Investment Fund—Taxable Money Market Series (cost $4,754,292)(b)	4,754,292		4,754,292
TOTAL INVESTMENTS — 99.6% (cost $168,168,581)(c)			198,440,738
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.4%			708,724
NET ASSETS — 100.0%		$	199,149,462

The following abbreviation is used in portfolio descriptions:

ADR American Depositary Receipt

(a) Non-income producing security.

(b) Prudential Investments LLC, the Manager of the Fund, also serves as Manager of the Dryden Core Investment Fund — Taxable Money Market Series.

(c) The United States federal income tax basis of the Fund’s investments and the net unrealized appreciation as of March 31, 2008 were as follows:

Tax Basis of Investments	Appreciation		Depreciation			Net Unrealized Appreciation
$ 170,003,402	$	32,157,491	$	(3,720,155	)	$	28,437,336

The difference between book basis and tax basis was attributable to deferred losses on wash sales.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 1 - quoted prices in active markets for identical securities

Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of March 31, 2008 in valuing the Fund’s assets carried at fair value:

Valuation inputs	Investments in Securities		Other Financial Instruments*
Level 1 - Quoted Prices	$	198,440,738	$	—
Level 2 - Other Significant Observable Inputs		—		—
Level 3 - Significant Unobservable Inputs		—		—
Total	$	198,440,738	$	—

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

As of December 31, 2007 and March 31, 2008, the Fund did not use any significant unobservable inputs (Level 3) in determining the valuation of investments.

Notes to Schedule of Investments (Unaudited)

Securities Valuation: Securities listed on a securities exchange (other than options on securities and indices) are valued at the last sale price on such exchange on the day of valuation or, if there was no sale on such day, at the mean between the last reported bid and asked prices, or at the last bid price on such day in the absence of an asked price. Securities traded via Nasdaq are valued at the Nasdaq official closing price (“NOCP”) on the day of valuation, or if there was no NOCP, at the last sale price. Securities that are actively traded in the over-the-counter market, including listed securities for which the primary market is believed by Prudential Investments LLC (“PI” or “Manager”), in consultation with the subadviser; to be over-the-counter, are valued at market value using prices provided by an independent pricing agent or principal market maker.

Securities for which market quotations are not readily available, or whose values have been affected by events occurring after the close of the security’s foreign market and before the fund’s normal pricing time, are valued at fair value in accordance with the Board of Directors’ approved fair valuation procedures. When determining the fair valuation of securities some of the factors influencing the valuation include, the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer’s financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the investment adviser regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security’s most recent closing price and from the price used by other mutual funds to calculate their net asset values.

Investments in mutual funds are valued at the net asset value as of the close of the New York Stock Exchange on the date of valuation.

Market values of investments traded in a foreign currency are translated into U.S. dollars at the current rates of exchange.

Short-term debt securities, which mature in sixty days or less are valued at, amortized cost, which approximates market value. The amortized cost method includes valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and cost. Short-term debt securities, which mature in more than sixty days, are valued at current market quotations.

The Portfolio invests in the Taxable Money Market Series (the “Series”), a portfolio of Dryden Core Investment Fund, pursuant to an exemptive order received from the Securities and Exchange Commission. The Series is a money market mutual fund registered under the Investment Company Act of 1940, as amended, and managed by PI.

Other information regarding each fund is available in the respective fund’s most recent Report of Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

Item 2. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no significant changes in the registrant’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

Item 3. Exhibits

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 – Attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Prudential’s Gibraltar Fund, Inc.
By (Signature and Title)*	/s/ Deborah A. Docs
	Deborah A. Docs
	Secretary of the Fund

Date May 21, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*	/s/ David R. Odenath
	David R. Odenath
	President and Principal Executive Officer

Date May 21, 2008

By (Signature and Title)*	/s/ Grace C. Torres
	Grace C. Torres
	Treasurer and Principal Financial Officer

Date May 21, 2008

* Print the name and title of each signing officer under his or her signature.