Investment objective & strategy
As of Nov. 25, 2025 · prospectusObjective. The investment objective of the Fund is capital growth .
Strategy. The subadviser seeks investments whose price will increase over time. The Fund normally invests at least 80% of its investable assets in equity and equity-related securities of small, less well-known companies that the subadviser believes are relatively undervalued. Investable assets consist of the Fund's net assets plus any borrowings for investment purposes. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. The subadviser currently considers small companies to be those with a market capitalization less than the largest market capitalization of the Russell 2500 Index at the time of investment. The market capitalization within the Russell 2500 Index will vary, but … The subadviser seeks investments whose price will increase over time. The Fund normally invests at least 80% of its investable assets in equity and equity-related securities of small, less well-known companies that the subadviser believes are relatively undervalued. Investable assets consist of the Fund's net assets plus any borrowings for investment purposes. The Fund's investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions. The subadviser currently considers small companies to be those with a market capitalization less than the largest market capitalization of the Russell 2500 Index at the time of investment. The market capitalization within the Russell 2500 Index will vary, but as of September 30, 2025, the median market capitalization was approximately $1.53 billion and the largest company by market capitalization was approximately $32.29 billion. The Funds portfolio is diversified and typically will include stocks representing all of the sectors in the Russell 2500 Index. In deciding which stocks to buy, the subadviser uses a blend of both value and growth styles. The subadviser looks for stocks in a variety of different industries and sectors that it believes have attractive valuations, and should experience superior earnings growth on an intermediate term basis. The subadviser generally bases its belief on its proprietary forecasts of each companys potential earnings growth for periods greater than one year. At times, the Fund may have a significant portion of its assets invested in the same economic sector.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ELDORADO GOLD | — | $96.11M | 3.01% |
| (PIPA070) PGIM Core Government Money Market Fund | — | $95.89M | 3.01% |
| RALPH LAUREN CORP | — | $80.61M | 2.53% |
| IDACORP INC | — | $71.40M | 2.24% |
| NISOURCE INC | — | $68.47M | 2.15% |
| WESCO INTL | — | $60.42M | 1.90% |
| MARKEL GROUP INC | — | $59.33M | 1.86% |
| GAMING AND LEISURE PROPRTI INC | — | $56.80M | 1.78% |
| EASTERN BANKSHARES INC | — | $55.55M | 1.74% |
| GULFPORT ENERGY CORP | — | $50.80M | 1.59% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| PGIM Jennison Small-Cap Core Equity Fund · PQJCX | 57% | 0.95% |
| PGIM Jennison Focused Mid-Cap ETF · PJFM | 35% | 0.49% |
| PGIM Jennison Blend Fund · PBQAX, PRECX, PEQZX, PBQQX | 20% | 0.64% |
Footnotes
- Expense ratio as of November 25, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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