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Overall Morningstar Rating TM
Barron’s Best Fund Families 2024

Barron’s Best Fund Families: Ranked #4 for best fund family over the 1-year period ended 12/31/2024, among 48 qualifying fund families based on asset- weighted returns.

Objective

Seeks high current return by investing at least 90% of its assets in government securities such as U.S. Treasury bills, notes, and other securities issued by the U.S. government, agencies, or instrumentalities. The Fund may be appropriate for investors seeking greater diversification and monthly income. 

Growth of $10,000

Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. This chart represents historical performance and does not assume the effects of sales charges or varying fees and expenses of other share classes. If shown with sales charges or these other fees and expenses, performance could have been lower. It is not possible to invest directly in an index. Click here to view benchmark index definitions.

FUND INFORMATION
Style: Government Bond
Total Net Assets: $224 Million
Dividends (Paid): Monthly
Dividends (Accrued): Daily
Capital Gains: Annually
Fund StatisticS
AS OF 10/31/2025
Name
Weight
Average Maturity (years) 7.30
Duration (years) 5.60
Standard Deviation (3 year) 6.28

Morningstar Rating

AS OF 10/31/2025
Class A Shares
Overall (Out of 101 Funds)
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3-Year (Out of 101 Funds)
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5-Year (Out of 97 Funds)
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10-Year (Out of 78 Funds)
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Class C Shares
Overall (Out of 101 Funds)
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3-Year (Out of 101 Funds)
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5-Year (Out of 97 Funds)
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10-Year (Out of 78 Funds)
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Class R Shares
Overall (Out of 101 Funds)
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3-Year (Out of 101 Funds)
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5-Year (Out of 97 Funds)
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10-Year (Out of 78 Funds)
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Class R6 Shares
Overall (Out of 101 Funds)
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3-Year (Out of 101 Funds)
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5-Year (Out of 97 Funds)
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10-Year (Out of 78 Funds)
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Class Z Shares
Overall (Out of 101 Funds)
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3-Year (Out of 101 Funds)
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5-Year (Out of 97 Funds)
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10-Year (Out of 78 Funds)
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Source: Morningstar. The Morningstar Rating may be calculated based on its share class adjusted historical returns. If so, the fund’s independent Morningstar Rating metric uses its oldest class to determine its hypothetical rating for certain periods. The Fund’s Overall, 3-, 5-, and 10-year Star Ratings/Fund are, if applicable: 2/101.0, 3/101.0, 1/97.0 and 2/78.0, respectively. Morningstar Ratings are calculated for managed products with a 3-year minimum history. Comparatively, exchange-traded funds and open-ended mutual funds are considered a single population. Rating is calculated based on a Morningstar Risk-Adjusted Return measure accounting for variation in a managed product's monthly excess performance that emphasizes downward variations more and rewards consistency, with no sales load adjustment. In each category, the top 10% receive 5 stars, with 4 stars for the next 22.5%, 3 stars for the next 35%, 2 stars for the next 22.5%, and 1 star for the bottom 10%. Overall Morningstar Rating is derived from a weighted average of the performance associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics: for 36-59 months of total returns, 100% 3-year rating, for 60-119 months of total returns, 60% 5-year rating/40% 3-year rating, and for 120 or more months of total returns, 50% 10-year rating/30% 5-year rating/20% 3-year rating. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating period

Source: Morningstar. The Morningstar Rating may be calculated based on its share class adjusted historical returns. If so, the fund’s independent Morningstar Rating metric uses its oldest class to determine its hypothetical rating for certain periods. The Fund’s Overall, 3-, 5-, and 10-year Star Ratings/Fund are, if applicable: 2/101.0, 3/101.0, 1/97.0 and 2/78.0, respectively. Morningstar Ratings are calculated for managed products with a 3-year minimum history. Comparatively, exchange-traded funds and open-ended mutual funds are considered a single population. Rating is calculated based on a Morningstar Risk-Adjusted Return measure accounting for variation in a managed product's monthly excess performance that emphasizes downward variations more and rewards consistency, with no sales load adjustment. In each category, the top 10% receive 5 stars, with 4 stars for the next 22.5%, 3 stars for the next 35%, 2 stars for the next 22.5%, and 1 star for the bottom 10%. Overall Morningstar Rating is derived from a weighted average of the performance associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics: for 36-59 months of total returns, 100% 3-year rating, for 60-119 months of total returns, 60% 5-year rating/40% 3-year rating, and for 120 or more months of total returns, 50% 10-year rating/30% 5-year rating/20% 3-year rating. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating period

Barron's Information: PGIM Investments ranked 4 out of 48, 8 out of 47, 12 out of 46 firms for the 1-, 5-, and 10-year periods ended 12/31/2024, respectively.

PGIM Government Income Fund (Class Z)  Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 12/31/2024 for the General U.S. Government Funds category were: 15/64, 28/63, 39/60, and 23/49, respectively. Lipper Funds category rankings are based on total return, do not take sales charges into account, and are calculated against all funds in each fund’s respective Lipper category. 

Class Z Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 9/30/2025: 15/58, 2/58, 31/54, and 21/46, respectively. Past performance is no guarantee of future results.

*Used with permission. © 2025 Dow Jones & Company, Inc. Source: Barron’s, Feb. 27, 2025. Barron’s rankings are based on asset-weighted returns in funds in five categories: U.S. Equity; World Equity; Mixed Asset; Taxable Bond; and Tax-Exempt (each a “Barron’s ranking category”). Rankings also take into account an individual fund’s performance within its Lipper peer universe. Lipper calculated each fund’s net total return for the year ended Dec. 31, 2024, minus the effects of 12b-1 fees and sales charges. Each fund in the survey was given a percentile ranking, with 100 the highest and 1 the lowest in its category. That ranking measured how a fund compared with its peer “universe,” as tracked by Lipper, not just the funds in the survey. Individual fund scores were then multiplied by the 2024 weighting of their Barron’s ranking category as determined by the entire Lipper universe of funds. Those fund scores were then totaled, creating an overall score and ranking for each fund family in the survey in each Barron’s ranking category. To qualify for the ranking, firms must offer at least three active mutual funds or actively run ETFs in Lipper’s general U.S. Stock category; one in World Equity; and one Mixed Asset. They also need to offer at least two taxable bond funds and one national tax-exempt bond fund. All funds must have a track record of at least one year.

Risks of investing in the fund include but are not limited to the following: Fixed Income investments are subject to credit, market, prepayment and interest rate risks, and their value will decline as interest rates rise. The guarantee on U.S. Government Securities applies only to the underlying securities of the Fund's portfolio and not to the value of the Fund's shares. Mortgage-backed and asset-backed securities tend to increase in value less than other debt securities when interest rates decline, but are subject to a similar risk of decline in market value during periods of rising interest rates. Derivatives may carry market, credit and liquidity risks. There is no guarantee the Fund's objective will be achieved. Risks are more fully explained in the fund's prospectus.

Total Returns (%)

as of
RETURNS:
SALES CHARGE:
TOTAL RETURNS (%) WITH SALES CHARGE WITHOUT SALES CHARGE
Cumulative Average Annual
Class Ticker YTD 1-Yr 3-Yr 5-Yr 10-Yr Since Inception

Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.

See Daily Returns for the PGIM Government Income Fund.
See Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Government Income Fund.

See Daily Returns for the PGIM Government Income Fund.
See Quarterly SEC Standardized Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Government Income Fund.

 

Fund Expenses
Maximum Sales Charge (%)
Class
Gross (%)
Net (%)
Date*
A 0.95 0.87 06/30/2026 3.25
C 2.08 2.00 06/30/2026 1.00
R 1.56 1.23 06/30/2026
R6 0.58 0.47 06/30/2026
Z 0.69 0.48 06/30/2026

*This date represents the contractual reduction date through which the net expense ratio is in effect.

Total return describes the return to the investor after net operating expenses but before any sales charges are imposed. Morningstar Category Average is unmanaged, is based on the average return of all funds in this category, and does not take into consideration applicable sales charges. Unless noted otherwise, Morningstar Category Average and index returns reflect performance beginning the closest month-end date to the Fund's inception. Benchmark since inception average is based on Class Z inception date. SEC standardized return describes the return to the investor after net operating expense and maximum sales charges are imposed. All returns assume share price changes as well as the compounding effect of reinvested dividends and capital gains. Returns may reflect fee waivers and/or expense reimbursements. Without such, returns would be lower. All returns 1-year or less are cumulative.

Morningstar Intermediate Government Category Average: Intermediate-government portfolios have at least 90% of their bond holdings in bonds backed by the U.S. government or by government-linked agencies. This backing minimizes the credit risk of these portfolios, as the U.S. government is unlikely to default on its debt. These portfolios have durations typically between 3.5 and 6.0 years. Consequently, the group's performance—and its level of volatility—tends to fall between that of the short government and long government bond categories. Morningstar calculates monthly breakpoints using the effective duration of the Morningstar Core Bond Index in determining duration assignment. Intermediate is defined as 75% to 125% of the three-year average effective duration of the MCBI.

Morningstar Core Bond Index: The index measures the performance of fixed-rate, investment-grade USD-denominated securities with maturities greater than one year. It is market-capitalization weighted.

Bloomberg Government Bond Index is an unmanaged index of securities issued or backed by the U.S. Government, its agencies and instrumentalities with between one and thirty years remaining to maturity. It gives a broad look at how U.S. Government bonds with such maturities have performed.

Bloomberg U.S. Aggregate ex-Credit Index is unmanaged and represents securities that are SEC-registered, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities.

An investment cannot be made directly in an index or average. All indexes and averages are unmanaged.

Prices

AS OF 12/12/2025
Class
NAV ($)
NAV Change ($)
NAV Change (%)
POP ($)
Total Net Assets ($)
A 8.01 Loss -0.02 -0.25 8.28 121,679,068.87
C 8.03 Loss -0.02 -0.25 2,401,890.68
R 8.02 Loss -0.02 -0.25 5,078,134.79
R6 7.99 Loss -0.02 -0.25 46,671,644.73
Z 7.99 Loss -0.03 -0.37 44,307,580.09

NAV (Net Asset Value) is the $U.S. value of a single share of a fund, excluding any sales charges. Change shows the change in $U.S. value over the previous day:Gain= Gain, Loss= Loss,  No Change = No Change.

See Prices of other PGIM Investments Mutual Funds.

52 Week High/Low

AS OF 12/12/2025
Class
52 Week High ($)
52 Week High Date
52 Week Low ($)
52 Week Low Date
A 8.12 10/21/2025 7.67 01/13/2025
C 8.14 10/22/2025 7.69 01/13/2025
R 8.13 10/22/2025 7.69 01/14/2025
R6 8.09 10/28/2025 7.65 01/13/2025
Z 8.10 10/28/2025 7.66 01/14/2025

For share classes less than one year old, the 52-week high and 52-week low NAVs are calculated from inception to the current date.

Yields

AS OF 11/30/2025
Class SEC 30-Day Subsidized Yield (%) SEC 30-Day Unsubsidized Yield (%) Offer Distb. Yield (%) NAV Distb. Yield (%) SEC-30 Day Sub Taxable Equivalent Yield (%)
A - View Prospectus 2.98 2.89 3.24 3.35
C - View Prospectus 1.89 1.80 2.16
R - View Prospectus 2.71 2.38 2.99
R6 - View Prospectus 3.48 3.36 3.75
Z - View Prospectus 3.48 3.27 3.74

See Yields of other PGIM Investments Mutual Funds.

Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.

This material must be preceded or accompanied by a current prospectus or summary prospectus. Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.

Portfolio Attributes

AS OF 10/31/2025
Largest Issues (% of Assets)
Largest Issues
% of Assets
FNMA 30YR UMBS 2.0% (10/01/2050) 3.6%
FNA_22-M3 1.764% 11/25/2031 3.3%
Treasury Strip (INT) 0.0% 05/15/2040 2.7%
FNA_19-M22 2.522% 08/25/2029 2.4%
FHMS_K512 5.0% 11/25/2028 2.3%
FHMS_K075 3.65% 02/25/2028 2.2%
FNA_22-M13 2.68% 06/25/2032 2.0%
RFCO 0.0% 01/15/2030 2.0%
FHLMC 30YR UMBS SUPER 5.0% 05/01/2053 2.0%
TREASURY STRIP (INT) 0.0% 02/15/2049 1.9%
Sector Breakdown (% of Assets)
Sector Breakdown
% of Assets
Agency MBS 42.7%
U.S. Treasuries 17.5%
Commercial MBS 14.9%
Agency 11.5%
ABS 6.7%
Investment Grade 0.0%
Other 0.0%
Cash/Equiv 6.6%
FUND STATISTICS
AS OF 10/31/2025
Average Maturity (years) 7.3
Duration (years) 5.6
Standard Deviation (3 year) 6.28

All data is unaudited and subject to change. Holdings/allocations may vary. This is not a recommendation to buy or sell any security listed. Total number of holdings based on issuers. Largest holdings exclude cash, cash equivalents, money market funds and enhanced cash strategies. Negative holdings reflect outstanding trades at period end.

Fund Holdings

AS OF 10/31/2025

Holdings are unaudited, may vary and are subject to change. Please refer to the Fund's annual report for audited holdings information. This is not a recommendation to buy or sell any security listed.

Value ($): Cash securities are calculated using market value and derivative securities are calculated using notional value.

Source: Bank of New York Mellon. Holdings are provided to Prudential Financial by the custodian bank and Prudential Financial is not responsible for any errors or omissions related to the holdings data.

© 2025, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved.

Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.

Investment products are distributed by Prudential Investment Management Services LLC (PIMS), member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. PGIM Fixed Income is a unit of PGIM, Inc., a registered investment advisor. PGIM Limited acts as a subadvisor to all fixed income funds. PGIM Limited is an indirect, wholly-owned subsidiary of PGIM, Inc. (“PGIM”), the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States. All are Prudential Financial affiliates. PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. ©2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Fixed Income, PGIM Limited, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.

INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate. 

Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

4072323 Ed. 12/2024

Security ID# (CUSIP/SEDOL)
Security Description
Ticker Symbol
Coupon Rate
Maturity Date
Shares/Notional
Value ($)
% of Portfolio
31418DTQ5 Fannie Mae Pool FN 2.0 10/01/2050 9,776,696.00 8,006,817.00 3.77
3136BLW22 Fannie Mae-aces FNA 1.71 11/01/2031 8,500,000.00 7,348,913.00 3.46
912834HV3 United States Treasury Strip Coupon S 05/15/2040 12,040,000.00 6,128,511.00 2.88
3136B6XJ7 Fannie Mae-aces FNA 2.52 08/01/2029 5,667,844.00 5,370,143.00 2.53
3137HBCF9 Freddie Mac Multifamily Structured Pass FHMS 5.0 11/01/2028 5,000,000.00 5,136,679.00 2.42
3137F4X72 Freddie Mac Multifamily Structured Pass FHMS 3.65 02/01/2028 5,000,000.00 4,974,376.00 2.34
3136BNX43 Fannie Mae-aces FNA 2.59 06/01/2032 5,000,000.00 4,539,937.00 2.14
76116FAB3 Resolution Funding Corp Principal Strip RFCSP 01/15/2030 5,305,000.00 4,517,976.00 2.12
3132DWG80 Freddie Mac Pool FR 5.0 05/01/2053 4,491,271.00 4,488,811.00 2.11
912834UH9 United States Treasury Strip Coupon S 02/15/2049 13,080,000.00 4,221,940.00 1.99
912834KP2 United States Treasury Strip Coupon S 08/15/2041 8,735,000.00 4,142,086.00 1.95
91282CNU1 United States Treasury Note/bond T 3.63 08/15/2028 3,895,000.00 3,898,042.00 1.83
912834LB2 United States Treasury Strip Coupon S 02/15/2042 7,070,000.00 3,261,366.00 1.53
31418DSH6 Fannie Mae Pool FN 2.0 09/01/2050 3,893,209.00 3,191,318.00 1.50
69344A834 PGIM Aaa Clo Etf PAAA 60,500.00 3,113,935.00 1.46
3133ENFJ4 Federal Farm Credit Banks Funding Corp FFCB 2.15 12/01/2031 3,430,000.00 3,083,946.00 1.45
31418DW65 Fannie Mae Pool FN 2.0 02/01/2041 3,466,407.00 3,007,038.00 1.41
912834NP9 United States Treasury Strip Coupon S 05/15/2044 7,240,000.00 2,945,144.00 1.39
91282CPA3 United States Treasury Note/bond T 3.63 09/30/2030 2,955,000.00 2,944,380.00 1.38
31418DTR3 Fannie Mae Pool FN 2.5 10/01/2050 3,328,789.00 2,832,640.00 1.33
3140KEK80 Fannie Mae Pool FN 2.5 08/01/2050 3,306,810.00 2,828,100.00 1.33
74440W862 (pipa070) Pgim Core Government Money Mar 4.12 12/01/2099 2,666,311.00 2,666,311.00 1.25
31418EGT1 Fannie Mae Pool FN 5.0 07/01/2052 2,474,781.00 2,474,190.00 1.16
07335CAE4 Barclays Commercial Mortgage Trust 2019- BBCMS 2.66 08/01/2052 2,603,468.00 2,476,898.00 1.16
3140XG6U8 Fannie Mae Pool FN 3.0 05/01/2052 2,652,420.00 2,395,275.00 1.13
88677FAA1 Tikehau Us Clo Vii Ltd TKO 5.08 02/25/2038 2,400,000.00 2,403,038.00 1.13
03329WAA5 Anchorage Capital Clo 25 Ltd ANCHC 5.27 04/20/2035 2,250,000.00 2,251,338.00 1.06
CURRENCY Currency 2,241,273.00 2,241,272.00 1.05
3136BFRV7 Fannie Mae-aces FNA 1.47 11/01/2030 2,500,000.00 2,200,336.00 1.03
09077YAA2 Birch Grove Clo 11 Ltd BGCLO 5.22 01/22/2038 2,050,000.00 2,055,817.00 0.97
912834PZ5 United States Treasury Strip Coupon S 02/15/2046 5,395,000.00 2,011,203.00 0.95
881936AA6 Texas Debt Capital Clo 2025-i Ltd TCIFC 5.01 04/24/2038 2,000,000.00 1,998,822.00 0.94
31418DUF7 Fannie Mae Pool FN 1.5 11/01/2050 2,464,658.00 1,906,684.00 0.90
36179X2L9 Ginnie Mae Ii Pool G2 5.5 05/20/2053 1,870,503.00 1,898,606.00 0.89
912834LX4 United States Treasury Strip Coupon S 11/15/2042 4,220,000.00 1,864,904.00 0.88
31418DXL1 Fannie Mae Pool FN 2.5 03/01/2051 2,154,314.00 1,842,189.00 0.87
31418DYC0 Fannie Mae Pool FN 2.5 04/01/2051 2,144,325.00 1,828,709.00 0.86
3132DWFH1 Freddie Mac Pool FR 5.5 11/01/2052 1,752,655.00 1,780,728.00 0.84
67115LAJ3 OHA Credit Partners Xvi OAKC 5.23 10/18/2037 1,750,000.00 1,754,213.00 0.82
3132DWHE6 Freddie Mac Pool FR 5.0 06/01/2053 1,601,614.00 1,600,323.00 0.75
36179W5F1 Ginnie Mae Ii Pool G2 4.5 05/20/2052 1,607,825.00 1,581,756.00 0.74
3140X4DE3 Fannie Mae Pool FN 3.0 04/01/2047 1,679,886.00 1,531,038.00 0.72
566076BA2 Marble Point Clo Xviii Ltd MP18 5.11 03/15/2038 1,500,000.00 1,501,614.00 0.71
912810SU3 United States Treasury Note/bond T 1.88 02/15/2051 2,555,000.00 1,477,109.00 0.69
31418DY71 Fannie Mae Pool FN 2.0 05/01/2041 1,681,604.00 1,473,261.00 0.69
31418DVB5 Fannie Mae Pool FN 1.5 12/01/2050 1,834,028.00 1,419,254.00 0.67
3136BWRC2 Fannie Mae Remics FNR 4.2 07/25/2055 1,363,667.00 1,381,747.00 0.65
3133ENGR5 Federal Farm Credit Banks Funding Corp FFCB 2.2 12/09/2031 1,545,000.00 1,390,923.00 0.65
3138WEV30 Fannie Mae Pool FN 3.5 06/01/2045 1,301,455.00 1,233,150.00 0.58
912834MM7 United States Treasury Strip Coupon S 05/15/2043 2,865,000.00 1,230,891.00 0.58
76116FAC1 Resolution Funding Corp Principal Strip RFCSP 04/15/2030 1,405,000.00 1,183,068.00 0.56
3140GSPD8 Fannie Mae Pool FN 4.0 09/01/2047 1,190,092.00 1,154,153.00 0.54
3136F7NM5 Federal National Mortgage Association FNMA 11/15/2030 1,355,000.00 1,109,637.00 0.52
3133EMZ39 Federal Farm Credit Banks Funding Corp FFCB 1.77 02/04/2031 1,245,000.00 1,110,155.00 0.52
31418DKQ4 Fannie Mae Pool FN 2.5 01/01/2050 1,179,650.00 1,011,455.00 0.48
912834JP4 United States Treasury Strip Coupon S 02/15/2041 2,050,000.00 999,889.00 0.47
3140FPDG1 Fannie Mae Pool FN 4.0 06/01/2047 988,025.00 956,062.00 0.45
3140JACV8 Fannie Mae Pool FN 3.5 04/01/2048 1,029,479.00 967,394.00 0.45
31418DY30 Fannie Mae Pool FN 2.0 05/01/2036 1,008,818.00 930,899.00 0.44
912834JH2 United States Treasury Strip Coupon S 11/15/2040 1,880,000.00 929,958.00 0.44
31418DZ88 Fannie Mae Pool FN 2.5 06/01/2041 1,019,125.00 916,432.00 0.43
36179RJD2 Ginnie Mae Ii Pool G2 3.0 07/01/2045 1,002,900.00 916,367.00 0.43
3133ELTR5 Federal Farm Credit Banks Funding Corp FFCB 2.04 03/19/2040 1,330,000.00 924,181.00 0.43
3128X75U4 Federal Home Loan Mortgage Corp FHLMC 11/15/2038 1,680,000.00 917,561.00 0.43
3128MJ2C3 Freddie Mac Gold Pool FG 3.5 07/01/2047 973,725.00 918,004.00 0.43
36179Y5L4 Ginnie Mae Ii Pool G2 5.5 08/20/2054 884,221.00 892,725.00 0.42
3140FVVQ6 Fannie Mae Pool FN 4.0 06/01/2047 909,968.00 872,039.00 0.41
3130ANUL2 Federal Home Loan Banks FHLB 1.75 06/20/2031 980,000.00 864,757.00 0.41
3137BKGK0 Freddie Mac Multifamily Structured Pass FHMS 3.51 04/01/2030 900,000.00 879,433.00 0.41
3137HLZC9 Freddie Mac Remics FHR 4.2 06/25/2055 831,166.00 842,185.00 0.40
36179TSG1 Ginnie Mae Ii Pool G2 3.5 02/01/2048 917,918.00 855,347.00 0.40
76116EHP8 Resolution Funding Corp Interest Strip RFCS 04/15/2030 1,025,000.00 860,129.00 0.40
36179SJS7 Ginnie Mae Ii Pool G2 3.0 08/01/2046 909,497.00 829,994.00 0.39
31418EF21 Fannie Mae Pool FN 4.5 06/01/2052 851,632.00 834,010.00 0.39
3132A5AY1 Freddie Mac Pool FR 3.5 07/01/2043 864,650.00 822,514.00 0.39
3130AKKR6 Federal Home Loan Banks FHLB 1.79 12/21/2035 1,065,000.00 822,573.00 0.39
3133ELLH5 Federal Farm Credit Banks Funding Corp FFCB 2.46 02/05/2035 925,000.00 776,322.00 0.37
31418DV74 Fannie Mae Pool FN 2.0 01/01/2051 973,016.00 796,464.00 0.37
912810TJ7 United States Treasury Note/bond T 3.0 08/15/2052 1,070,000.00 790,964.00 0.37
31418CDL5 Fannie Mae Pool FN 3.0 11/01/2046 825,451.00 752,283.00 0.35
3138X0NJ3 Fannie Mae Pool FN 3.0 07/01/2043 802,087.00 742,938.00 0.35
3128MJY53 Freddie Mac Gold Pool FG 2.5 11/01/2046 828,625.00 725,516.00 0.34
3140KB4A9 Fannie Mae Pool FN 2.5 05/01/2050 840,140.00 720,615.00 0.34
3140XGXR5 Fannie Mae Pool FN 3.0 04/01/2052 773,415.00 697,090.00 0.33
3138WJFK9 Fannie Mae Pool FN 3.0 11/01/2046 769,849.00 701,609.00 0.33
3138LTKF4 Fannie Mae Pool FN 3.5 05/01/2042 732,826.00 696,144.00 0.33
3128MJ2G4 Freddie Mac Gold Pool FG 3.5 08/01/2047 732,009.00 690,120.00 0.32
3132DWBJ1 Freddie Mac Pool FR 2.5 04/01/2051 784,609.00 669,898.00 0.32
36179SGL5 Ginnie Mae Ii Pool G2 3.5 07/01/2046 734,769.00 681,750.00 0.32
3140XHBE6 Fannie Mae Pool FN 2.5 05/01/2052 754,318.00 650,549.00 0.31
31418CRD8 Fannie Mae Pool FN 4.0 11/01/2047 679,797.00 657,628.00 0.31
3128MJZF0 Freddie Mac Gold Pool FG 3.0 01/01/2047 711,525.00 649,216.00 0.31
3140X6PU9 Fannie Mae Pool FN 3.5 11/01/2048 680,949.00 640,294.00 0.30
36179MX47 Ginnie Mae Ii Pool G2 3.5 01/01/2043 644,935.00 614,158.00 0.29
3138WJMK1 Fannie Mae Pool FN 3.5 12/01/2046 658,367.00 619,885.00 0.29
3138WHXU1 Fannie Mae Pool FN 3.0 09/01/2046 650,870.00 593,174.00 0.28
31418DY89 Fannie Mae Pool FN 2.5 05/01/2041 660,628.00 592,023.00 0.28
31417ECN9 Fannie Mae Pool FN 3.0 12/01/2042 634,410.00 587,624.00 0.28
31418CRA4 Fannie Mae Pool FN 3.5 11/01/2032 599,137.00 591,797.00 0.28
76116EGP9 Resolution Funding Corp Interest Strip RFCS 01/15/2029 667,000.00 589,617.00 0.28
31418CQB3 Fannie Mae Pool FN 4.0 10/01/2047 592,483.00 573,191.00 0.27
3140GV2D6 Fannie Mae Pool FN 4.5 12/01/2047 587,806.00 579,969.00 0.27
3138EKKN4 Fannie Mae Pool FN 3.5 12/01/2042 597,088.00 568,235.00 0.27
3128MJS35 Freddie Mac Gold Pool FG 3.0 07/01/2043 610,771.00 566,387.00 0.27
3132DWAD5 Freddie Mac Pool FR 1.5 11/01/2050 723,834.00 560,173.00 0.26
880591EX6 Tennessee Valley Authority TVA 1.5 09/15/2031 640,000.00 559,064.00 0.26
3132L5A29 Freddie Mac Gold Pool FG 3.0 04/01/2043 574,774.00 532,329.00 0.25
3133EM6C1 Federal Farm Credit Banks Funding Corp FFCB 1.73 09/22/2031 600,000.00 526,003.00 0.25
31417AEL9 Fannie Mae Pool FN 3.5 10/01/2041 562,764.00 540,102.00 0.25
36179UPA4 Ginnie Mae Ii Pool G2 4.0 03/01/2049 541,024.00 519,335.00 0.24
3618N5KZ1 Ginnie Mae Ii Pool G2 7.0 04/01/2055 488,803.00 503,116.00 0.24
912834MD7 United States Treasury Strip Coupon S 02/15/2043 1,180,000.00 513,643.00 0.24
3138WJQY7 Fannie Mae Pool FN 2.5 12/01/2046 540,343.00 472,524.00 0.22
31418DJR4 Fannie Mae Pool FN 3.0 12/01/2049 501,556.00 450,414.00 0.21
36179SGK7 Ginnie Mae Ii Pool G2 3.0 07/01/2046 484,581.00 441,911.00 0.21
31418DP71 Fannie Mae Pool FN 2.0 06/01/2040 502,946.00 438,749.00 0.21
31418C3E2 Fannie Mae Pool FN 4.5 10/01/2048 458,438.00 453,855.00 0.21
76116EGR5 Resolution Funding Corp Interest Strip RFCS 01/15/2030 520,000.00 440,432.00 0.21
91282CPF2 United States Treasury Note/bond - When WIT 3.75 10/31/2032 425,000.00 421,414.00 0.20
3136F1EQ9 Federal National Mortgage Association FNMA 03/17/2031 530,000.00 424,374.00 0.20
3130AKWJ1 Federal Home Loan Banks FHLB 1.15 02/10/2031 485,000.00 424,605.00 0.20
3134A4CP7 Freddie Mac Coupon Strips FRESTP 03/15/2031 500,000.00 403,648.00 0.19
36184HLS1 Ginnie Mae I Pool GN 3.0 03/01/2045 440,909.00 398,576.00 0.19
36179TCX1 Ginnie Mae Ii Pool G2 3.5 07/01/2047 423,125.00 394,283.00 0.19
46513EFG2 Israel Government Aid Bond AID 5.5 09/18/2033 370,000.00 403,974.00 0.19
31416XJ84 Fannie Mae Pool FN 4.0 01/01/2041 380,970.00 374,076.00 0.18
31292R7M8 Freddie Mac Gold Pool FG 3.5 06/01/2042 401,574.00 384,025.00 0.18
3130ATHY6 Federal Home Loan Banks FHLB 4.25 09/10/2032 370,000.00 374,220.00 0.18
3128MJMN7 Freddie Mac Gold Pool FG 4.5 09/01/2039 389,617.00 393,300.00 0.18
3137BPVN6 Freddie Mac Multifamily Structured Pass FHMS 3.08 01/01/2031 375,000.00 358,041.00 0.17
3133EMVU3 Federal Farm Credit Banks Funding Corp FFCB 2.5 04/14/2036 455,000.00 371,790.00 0.17
3140QDZH0 Fannie Mae Pool FN 2.5 06/01/2050 433,836.00 371,076.00 0.17
36179Q6P1 Ginnie Mae Ii Pool G2 3.5 03/01/2045 378,521.00 354,695.00 0.17
31418EJ84 Fannie Mae Pool FN 5.5 10/01/2052 360,133.00 365,228.00 0.17
36179SYU5 Ginnie Mae Ii Pool G2 4.5 03/01/2047 350,682.00 350,073.00 0.16
31358DDR2 Fannie Mae Principal Strip FNMAP 05/15/2030 400,000.00 336,040.00 0.16
3128MJYD6 Freddie Mac Gold Pool FG 4.0 05/01/2046 348,688.00 337,844.00 0.16
91282CPD7 United States Treasury Note/bond - When WIT 3.5 10/31/2030 335,000.00 333,769.00 0.16
3128P8DM0 Freddie Mac Gold Pool FG 3.0 01/01/2037 330,400.00 314,258.00 0.15
3134A4KY9 Freddie Mac Strips FRESTP 07/15/2032 420,000.00 318,648.00 0.15
3138WGG65 Fannie Mae Pool FN 3.5 01/01/2046 338,967.00 320,510.00 0.15
36179UST0 Ginnie Mae Ii Pool G2 3.5 05/01/2049 334,794.00 309,470.00 0.15
36179UML3 Ginnie Mae Ii Pool G2 4.0 02/01/2049 331,132.00 317,993.00 0.15
31412RKU0 Fannie Mae Pool FN 4.0 09/01/2040 314,372.00 309,654.00 0.15
36179TSJ5 Ginnie Mae Ii Pool G2 4.5 02/01/2048 287,634.00 287,193.00 0.14
3133EMSR4 Federal Farm Credit Banks Funding Corp FFCB 2.35 03/10/2036 365,000.00 294,288.00 0.14
3128M7T97 Freddie Mac Gold Pool FG 4.0 11/01/2039 308,730.00 304,640.00 0.14
3132GS4K2 Freddie Mac Gold Pool FG 4.0 04/01/2042 314,168.00 307,867.00 0.14
3132JBMB6 Freddie Mac Gold Pool FG 3.5 06/01/2043 294,193.00 280,366.00 0.13
3130AL3V4 Federal Home Loan Banks FHLB 1.87 02/08/2036 345,000.00 266,114.00 0.13
36179T4P7 Ginnie Mae Ii Pool G2 4.0 07/01/2048 282,788.00 271,856.00 0.13
36179NBB3 Ginnie Mae Ii Pool G2 3.5 04/01/2043 286,550.00 272,167.00 0.13
36179QGD7 Ginnie Mae Ii Pool G2 4.0 06/01/2044 268,187.00 259,926.00 0.12
31417CJL0 Fannie Mae Pool FN 3.5 07/01/2042 258,562.00 246,656.00 0.12
31417EY21 Fannie Mae Pool FN 3.0 02/01/2043 280,919.00 260,205.00 0.12
31417GF27 Fannie Mae Pool FN 3.0 04/01/2043 266,394.00 246,750.00 0.12
3130ALDV3 Federal Home Loan Banks FHLB 2.09 02/22/2036 325,000.00 255,952.00 0.12
3133EMA44 Federal Farm Credit Banks Funding Corp FFCB 2.49 05/19/2036 300,000.00 244,684.00 0.12
3134GXBA1 Federal Home Loan Mortgage Corp FHLMC 1.22 08/19/2030 280,000.00 246,892.00 0.12
3138A94P6 Fannie Mae Pool FN 4.5 04/01/2041 243,380.00 244,794.00 0.12
3138WCUT8 Fannie Mae Pool FN 4.0 09/01/2044 256,402.00 249,538.00 0.12
912834VE5 United States Treasury Strip Coupon S 11/15/2049 795,000.00 247,033.00 0.12
912834NF1 United States Treasury Strip Coupon S 02/15/2044 560,000.00 230,800.00 0.11
3138AFW30 Fannie Mae Pool FN 4.5 05/01/2041 235,568.00 236,719.00 0.11
3138W2WH4 Fannie Mae Pool FN 3.0 03/01/2043 246,835.00 224,968.00 0.11
3132WGYK7 Freddie Mac Gold Pool FG 3.0 10/01/2046 246,376.00 224,801.00 0.11
3132A32F6 Freddie Mac Pool FR 4.0 04/01/2042 245,858.00 240,647.00 0.11
36179WP93 Ginnie Mae Ii Pool G2 2.0 10/01/2051 279,044.00 232,180.00 0.11
36202FP75 Ginnie Mae Ii Pool G2 4.5 02/01/2041 241,517.00 243,617.00 0.11
36179UGB2 Ginnie Mae Ii Pool G2 3.5 11/01/2048 238,786.00 221,916.00 0.10
31417GZE9 Fannie Mae Pool FN 3.0 06/01/2043 237,581.00 220,062.00 0.10
31410B7L2 Fannie Mae Pool FN 6.0 05/01/2036 194,272.00 203,984.00 0.10
31296JTZ9 Freddie Mac Gold Pool FG 5.0 06/01/2033 221,425.00 222,776.00 0.10
3128MJ2J8 Freddie Mac Gold Pool FG 4.5 08/01/2047 224,013.00 222,534.00 0.10
31359YQK6 Fannie Mae Interest Strip FNMASC 07/15/2032 285,000.00 214,056.00 0.10
3134GWQE9 Federal Home Loan Mortgage Corp FHLMC 1.46 08/17/2035 280,000.00 210,706.00 0.10
3132WH5N1 Freddie Mac Gold Pool FG 3.0 11/01/2046 220,550.00 201,150.00 0.09
3133EMUA8 Federal Farm Credit Banks Funding Corp FFCB 2.4 03/24/2036 222,000.00 182,769.00 0.09
3138E4ES6 Fannie Mae Pool FN 3.5 03/01/2042 197,391.00 189,279.00 0.09
3128MJ2H2 Freddie Mac Gold Pool FG 4.0 08/01/2047 197,380.00 190,544.00 0.09
3128MJZB9 Freddie Mac Gold Pool FG 3.0 12/01/2046 207,368.00 189,208.00 0.09
3128MMQT3 Freddie Mac Gold Pool FG 2.5 05/01/2028 196,466.00 193,132.00 0.09
3132A5HC2 Freddie Mac Pool FR 4.0 07/01/2047 188,229.00 182,139.00 0.09
31417FVU9 Fannie Mae Pool FN 3.5 03/01/2043 212,197.00 201,922.00 0.09
31418CNE0 Fannie Mae Pool FN 4.0 08/01/2047 202,414.00 195,865.00 0.09
31418DQA3 Fannie Mae Pool FN 3.0 06/01/2050 209,221.00 187,560.00 0.09
3140K05T1 Fannie Mae Pool FN 3.0 12/01/2049 219,131.00 197,398.00 0.09
31405QK23 Fannie Mae Pool FN 5.5 09/01/2034 186,339.00 193,152.00 0.09
36179UKW1 Ginnie Mae Ii Pool G2 3.5 01/01/2049 210,543.00 196,194.00 0.09
36290SHW4 Ginnie Mae I Pool GN 5.0 09/01/2033 183,270.00 184,599.00 0.09
36179XHY5 Ginnie Mae Ii Pool G2 4.5 10/20/2052 185,531.00 182,379.00 0.09
36179RBX6 Ginnie Mae Ii Pool G2 3.5 04/01/2045 202,801.00 190,110.00 0.09
880591CS9 Tennessee Valley Authority TVA 5.88 04/01/2036 170,000.00 190,888.00 0.09
36179QGE5 Ginnie Mae Ii Pool G2 4.5 06/01/2044 179,700.00 179,701.00 0.08
3132A8XR5 Freddie Mac Pool FR 2.5 10/01/2032 174,642.00 167,958.00 0.08
31292K4D6 Freddie Mac Gold Pool FG 4.0 09/01/2040 182,174.00 178,859.00 0.08
3138E2JY2 Fannie Mae Pool FN 3.5 12/01/2041 168,399.00 161,617.00 0.08
3132KEZJ7 Freddie Mac Gold Pool FG 2.5 03/01/2030 164,234.00 159,833.00 0.08
3133ENBX7 Federal Farm Credit Banks Funding Corp FFCB 1.9 10/21/2030 196,000.00 177,383.00 0.08
3138W9KG4 Fannie Mae Pool FN 3.0 08/01/2028 142,443.00 140,425.00 0.07
3130AM6D9 Federal Home Loan Banks FHLB 2.05 05/12/2031 160,000.00 143,846.00 0.07
3132A9NB9 Freddie Mac Pool FR 2.5 05/01/2028 159,962.00 157,088.00 0.07
31307PYV5 Freddie Mac Gold Pool FG 3.0 12/01/2030 155,761.00 152,822.00 0.07
3128P8E98 Freddie Mac Gold Pool FG 3.5 11/01/2037 144,661.00 139,949.00 0.07
3128MJZQ6 Freddie Mac Gold Pool FG 3.0 03/01/2047 163,411.00 149,099.00 0.07
3128M8HG2 Freddie Mac Gold Pool FG 4.0 12/01/2040 143,220.00 140,526.00 0.07
36179RTA7 Ginnie Mae Ii Pool G2 4.0 11/01/2045 158,463.00 153,009.00 0.07
36179SQX8 Ginnie Mae Ii Pool G2 4.0 11/01/2046 146,167.00 140,867.00 0.07
31418DWW8 Fannie Mae Pool FN 1.5 02/01/2036 161,971.00 145,610.00 0.07
36200MRS4 Ginnie Mae I Pool GN 5.0 07/01/2033 138,758.00 140,175.00 0.07
31406GMM8 Fannie Mae Pool FN 5.5 02/01/2035 134,199.00 139,307.00 0.07
3140EWWY7 Fannie Mae Pool FN 3.0 02/01/2031 145,124.00 142,038.00 0.07
3140K8RB9 Fannie Mae Pool FN 2.5 03/01/2050 180,875.00 155,791.00 0.07
31418CXP4 Fannie Mae Pool FN 4.5 06/01/2048 121,130.00 120,138.00 0.06
31409BG68 Fannie Mae Pool FN 6.0 01/01/2036 120,121.00 125,209.00 0.06
31407JZB1 Fannie Mae Pool FN 5.5 09/01/2035 123,347.00 127,764.00 0.06
36202FQ74 Ginnie Mae Ii Pool G2 4.5 03/01/2041 121,249.00 122,303.00 0.06
36202FP67 Ginnie Mae Ii Pool G2 4.0 02/01/2041 133,114.00 129,565.00 0.06
36179TJY2 Ginnie Mae Ii Pool G2 4.0 10/01/2047 134,509.00 129,422.00 0.06
36179SSN8 Ginnie Mae Ii Pool G2 2.5 12/01/2046 134,828.00 119,064.00 0.06
36179SWY9 Ginnie Mae Ii Pool G2 4.0 02/01/2047 127,715.00 122,774.00 0.06
3132D56U1 Freddie Mac Pool FR 1.5 01/01/2036 140,142.00 126,253.00 0.06
3130AMKL5 Federal Home Loan Banks FHLB 2.0 05/27/2031 140,000.00 131,467.00 0.06
31296X5V3 Freddie Mac Gold Pool FG 5.0 05/01/2034 117,025.00 118,674.00 0.06
3138WHRP9 Fannie Mae Pool FN 2.0 08/01/2031 134,788.00 128,738.00 0.06
31391EFH9 Fannie Mae Pool FN 6.5 10/01/2032 118,102.00 122,102.00 0.06
3133EMAG7 Federal Farm Credit Banks Funding Corp FFCB 1.68 09/17/2035 160,000.00 123,234.00 0.06
912834VM7 United States Treasury Strip Coupon S 02/15/2050 410,000.00 125,886.00 0.06
WNZ5 COMDT US Ultra Bond Cbt Dec25 WNZ5 12/19/2025 3,395,875.00 121,703.00 0.06
3132WKB49 Freddie Mac Gold Pool FG 4.0 08/01/2046 114,984.00 111,124.00 0.05
31402CU67 Fannie Mae Pool FN 5.0 03/01/2034 98,927.00 100,287.00 0.05
3138WJEX2 Fannie Mae Pool FN 3.0 11/01/2036 115,256.00 109,492.00 0.05
31390NZK1 Fannie Mae Pool FN 6.5 07/01/2032 105,331.00 108,898.00 0.05
3138NY4L6 Fannie Mae Pool FN 2.5 02/01/2043 112,257.00 101,416.00 0.05
3128M8R30 Freddie Mac Gold Pool FG 4.0 12/01/2040 113,824.00 111,659.00 0.05
3128MFCN6 Freddie Mac Gold Pool FG 2.0 01/01/2032 106,555.00 101,526.00 0.05
36179MAX8 Ginnie Mae Ii Pool G2 3.5 04/01/2042 102,592.00 97,611.00 0.05
36202TBU9 Ginnie Mae I Pool GN 5.5 02/01/2034 97,851.00 98,269.00 0.05
31407NAD5 Fannie Mae Pool FN 5.5 10/01/2035 103,611.00 107,399.00 0.05
31404EDM5 Fannie Mae Pool FN 5.5 02/01/2034 99,746.00 101,222.00 0.05
31417GZP4 Fannie Mae Pool FN 3.0 06/01/2043 119,629.00 110,807.00 0.05
31413NU29 Fannie Mae Pool FN 6.5 10/01/2037 98,993.00 104,011.00 0.05
31418AVW5 Fannie Mae Pool FN 2.5 08/01/2028 89,428.00 87,735.00 0.04
31407XRB9 Fannie Mae Pool FN 5.5 11/01/2035 80,458.00 83,520.00 0.04
3140J6AE7 Fannie Mae Pool FN 3.0 01/01/2047 96,735.00 88,820.00 0.04
36202FEH5 Ginnie Mae Ii Pool G2 4.5 02/01/2040 81,774.00 82,505.00 0.04
36179TNS0 Ginnie Mae Ii Pool G2 4.0 12/01/2047 96,992.00 93,323.00 0.04
36179QL66 Ginnie Mae Ii Pool G2 4.0 08/01/2044 82,475.00 79,832.00 0.04
36179R4G1 Ginnie Mae Ii Pool G2 4.5 03/01/2046 76,225.00 76,092.00 0.04
3128MJZD5 Freddie Mac Gold Pool FG 4.0 12/01/2046 92,452.00 89,566.00 0.04
3130ALK37 Federal Home Loan Banks FHLB 1.25 03/17/2031 100,000.00 94,914.00 0.04
3132KETW5 Freddie Mac Gold Pool FG 3.0 06/01/2029 78,682.00 77,492.00 0.04
3138EPAG9 Fannie Mae Pool FN 4.5 01/01/2045 83,943.00 84,120.00 0.04
3132WPRQ2 Freddie Mac Gold Pool FG 4.5 07/01/2047 77,454.00 76,943.00 0.04
31335BU38 Freddie Mac Gold Pool FG 5.0 02/01/2048 85,080.00 86,447.00 0.04
3135GA4L2 Federal National Mortgage Association FNMA 1.78 11/16/2035 100,000.00 77,093.00 0.04
912834XG8 United States Treasury Strip Coupon S 08/15/2051 300,000.00 85,838.00 0.04
912834TV0 United States Treasury Strip Coupon S 08/15/2048 225,000.00 74,364.00 0.03
3134GWHK5 Federal Home Loan Mortgage Corp FHLMC 1.3 08/12/2030 62,000.00 54,771.00 0.03
31390PAB3 Fannie Mae Pool FN 6.5 08/01/2032 53,736.00 55,556.00 0.03
3132L8WD5 Freddie Mac Gold Pool FG 4.0 08/01/2047 68,073.00 65,930.00 0.03
31297ECF1 Freddie Mac Gold Pool FG 6.0 09/01/2034 59,346.00 60,704.00 0.03
3128MJ2S8 Freddie Mac Gold Pool FG 3.5 10/01/2047 68,118.00 64,044.00 0.03
3128MJ2E9 Freddie Mac Gold Pool FG 4.5 07/01/2047 69,348.00 68,486.00 0.03
36179SYS0 Ginnie Mae Ii Pool G2 3.5 03/01/2047 70,097.00 65,377.00 0.03
31418DX80 Fannie Mae Pool FN 1.5 04/01/2036 62,424.00 56,117.00 0.03
36179TE35 Ginnie Mae Ii Pool G2 4.5 08/01/2047 62,766.00 62,551.00 0.03
36179SNU7 Ginnie Mae Ii Pool G2 3.0 10/01/2046 73,276.00 66,775.00 0.03
36292KP75 Ginnie Mae I Pool GN 5.5 02/01/2036 63,329.00 65,619.00 0.03
31407XSZ5 Fannie Mae Pool FN 5.5 11/01/2035 52,072.00 53,696.00 0.03
31407DMH5 Fannie Mae Pool FN 5.5 06/01/2035 65,614.00 66,291.00 0.03
31418CW26 Fannie Mae Pool FN 3.5 05/01/2033 55,012.00 54,291.00 0.03
31418CUJ1 Fannie Mae Pool FN 3.5 02/01/2033 33,236.00 32,836.00 0.02
31417GSW7 Fannie Mae Pool FN 2.5 06/01/2028 49,418.00 48,493.00 0.02
31410BEH3 Fannie Mae Pool FN 6.0 05/01/2036 33,594.00 34,763.00 0.02
31407CAE7 Fannie Mae Pool FN 5.0 07/01/2035 42,432.00 43,495.00 0.02
31403FST2 Fannie Mae Pool FN 7.0 11/01/2033 46,853.00 48,943.00 0.02
31406KM49 Fannie Mae Pool FN 5.5 06/01/2035 40,758.00 42,284.00 0.02
31404XUT9 Fannie Mae Pool FN 5.0 12/01/2031 38,390.00 38,224.00 0.02
31407YGD5 Fannie Mae Pool FN 5.0 11/01/2035 33,071.00 33,941.00 0.02
31408C7F7 Fannie Mae Pool FN 6.0 12/01/2035 46,933.00 48,512.00 0.02
31407KL64 Fannie Mae Pool FN 5.0 09/01/2035 35,336.00 36,243.00 0.02
3140K43M0 Fannie Mae Pool FN 3.0 01/01/2050 36,478.00 32,894.00 0.02
36202FPG5 Ginnie Mae Ii Pool G2 4.5 01/01/2041 50,980.00 51,426.00 0.02
36179TQR9 Ginnie Mae Ii Pool G2 4.5 01/01/2048 47,540.00 47,467.00 0.02
3128M5KA7 Freddie Mac Gold Pool FG 5.5 05/01/2037 33,149.00 34,553.00 0.02
3132D56Z0 Freddie Mac Pool FR 1.5 02/01/2036 56,847.00 51,104.00 0.02
31402TFR1 Fannie Mae Pool FN 7.0 09/01/2033 44,982.00 46,988.00 0.02
31388LGD6 Fannie Mae Pool FN 7.0 12/01/2031 48,614.00 50,782.00 0.02
912834LK2 United States Treasury Strip Coupon S 05/15/2042 115,000.00 52,225.00 0.02
912834UB2 United States Treasury Strip Coupon S 11/15/2048 60,000.00 19,582.00 0.01
UXYZ5 COMD US 10yr Ultra Fut Dec25 UXYZ5 12/19/2025 4,965,828.00 31,196.00 0.01
3138E5YE2 Fannie Mae Pool FN 3.0 01/01/2027 31,027.00 30,711.00 0.01
3138WCN82 Fannie Mae Pool FN 2.5 08/01/2029 20,604.00 20,085.00 0.01
31403DGY9 Fannie Mae Pool FN 5.0 05/01/2036 15,776.00 16,181.00 0.01
31391EN31 Fannie Mae Pool FN 6.5 10/01/2032 28,913.00 29,891.00 0.01
31390LP26 Fannie Mae Pool FN 6.5 09/01/2032 13,061.00 13,503.00 0.01
31307EZF4 Freddie Mac Gold Pool FG 3.0 10/01/2028 21,416.00 21,089.00 0.01
3130AKZS8 Federal Home Loan Banks FHLB 1.35 02/18/2031 30,000.00 26,166.00 0.01
31296YBG7 Freddie Mac Gold Pool FG 5.0 05/01/2034 21,575.00 21,909.00 0.01
31296RZ35 Freddie Mac Gold Pool FG 6.0 12/01/2033 10,425.00 10,674.00 0.01
3128M6SV1 Freddie Mac Gold Pool FG 5.5 01/01/2038 27,349.00 28,500.00 0.01
31287XXH4 Freddie Mac Gold Pool FG 6.5 09/01/2032 16,959.00 17,551.00 0.01
31287YG24 Freddie Mac Gold Pool FG 6.5 09/01/2032 17,146.00 17,744.00 0.01
31288AD69 Freddie Mac Gold Pool FG 7.0 09/01/2032 17,552.00 18,353.00 0.01
36201Y3F1 Ginnie Mae I Pool GN 5.0 04/01/2034 11,155.00 11,627.00 0.01
31422XV66 Federal Agricultural Mortgage Corp FAMCA 3.95 02/02/2026 15,000.00 14,993.00 0.01
36179RZV4 Ginnie Mae Ii Pool G2 4.5 02/01/2046 15,390.00 15,347.00 0.01
3140J9G21 Fannie Mae Pool FN 3.5 12/01/2030 17,839.00 17,662.00 0.01
31405WWX9 Fannie Mae Pool FN 6.0 11/01/2034 14,491.00 14,807.00 0.01
31406LGA0 Fannie Mae Pool FN 6.0 02/01/2035 28 28.00 0.00
31406N6U3 Fannie Mae Pool FN 6.0 03/01/2035 2,533.00 2,628.00 0.00
31405GZ94 Fannie Mae Pool FN 6.0 11/01/2034 2,694.00 2,806.00 0.00
31405KBU4 Fannie Mae Pool FN 6.0 09/01/2034 36 36.00 0.00
31405NSG1 Fannie Mae Pool FN 6.0 09/01/2034 4,513.00 4,611.00 0.00
31404JF75 Fannie Mae Pool FN 6.0 02/01/2034 54 54.00 0.00
31404V2D9 Fannie Mae Pool FN 6.0 06/01/2034 38 38.00 0.00
31405RKE5 Fannie Mae Pool FN 6.0 09/01/2034 7,280.00 7,673.00 0.00
3128MC4Y8 Freddie Mac Gold Pool FG 4.0 09/01/2026 4,624.00 4,617.00 0.00
31296WBJ5 Freddie Mac Gold Pool FG 5.0 03/01/2034 8,219.00 8,319.00 0.00
31294MGN5 Freddie Mac Gold Pool FG 4.0 06/01/2026 2,525.00 2,519.00 0.00
31402RDG1 Fannie Mae Pool FN 6.0 04/01/2035 223 232.00 0.00
31402TL86 Fannie Mae Pool FN 6.0 09/01/2033 306 314.00 0.00
31368HMY6 Fannie Mae Pool FN 5.5 11/01/2036 2,803.00 2,918.00 0.00
FFF6 COMDT FED Fund 30day Jan26 FFF6 01/30/2026 -1,604,878.00 1,760.00 0.00
FVZ5 COMDT US 5yr Note (cbt) Dec25 FVZ5 12/31/2025 7,644,766.00 2,514.00 0.00
JYDZ5 COMD 30Y Umbs Tba 3.5 Dec25 JYDZ5 12/04/2025 -2,772,656.00 -9,179.00 0.00
JYEZ5 COMD 30Y Umbs Tba 4.0 Dec25 JYEZ5 12/04/2025 -474,297.00 3,079.00 0.00
SWB8AEBLHW SWP: Ois 3.808500 27-aug-2026 Sof_c 08/27/2026 1,465,000.00 1,013.00 0.00
SWB8AEJF1X Scds: (frtr) 0.25 12/20/2030 195,000.00 -955.00 0.00
SWB8AEJFMP Scds: (frtr) 0.25 12/20/2030 -195,000.00 -784.00 0.00
TUZ5 COMDT US 2yr Note (cbt) Dec25 TUZ5 12/31/2025 28,945,664.00 3,143.00 0.00
TYZ5 COMDT US 10yr Note (cbt)dec25 TYZ5 12/19/2025 5,295,578.00 794.00 0.00
USZ5 COMDT US Long Bond(cbt) Dec25 USZ5 12/19/2025 -28,976,188.00 -805,888.00 -0.38
21H0426C8 Ginnie Mae G2SF 4.5 12/20/2054 -1,000,000.00 -975,050.00 -0.46
01F0506C5 Fannie Mae Or Freddie Mac FNCL 5.0 12/01/2055 -1,500,000.00 -1,491,334.00 -0.70
01F0526C1 Fannie Mae Or Freddie Mac FNCL 5.5 12/01/2055 -2,000,000.00 -2,019,187.00 -0.95
01F0306C7 Fannie Mae Or Freddie Mac FNCL 3.0 12/01/2055 -7,000,000.00 -6,201,015.00 -2.92

The CUSIP information contained in pgimfunds.com and/or prudential.com consists of security identifiers and related descriptive information (“the CUSIP Database”) and is protected under the copyright laws and is licensed with permission from CUSIP Global Services (“CGS”), on behalf of the American Bankers Association (“ABA”).

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ABOUT

PGIM Fixed Income, with $862 billion in assets under management as of March 31, 2025, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Tokyo and Singapore. At PGIM Fixed Income we believe that research-driven security selection is the most consistent strategy for adding value to client portfolios. The firm complements that base strategy with active sector rotation, duration management, and superior trade execution. Risk budgeting is central to this approach. PGIM Limited is also a subadvisor on this fund. PGIM Limited is an indirect, wholly-owned subsidiary of PGIM, Inc. (“PGIM”), the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States.

Robert Tipp, Craig Dewling, Mick Meyler, Matthew Angelucci, and Gary Wu of PGIM Fixed Income are primarily responsible for management of the PGIM Government Income Fund.

Craig Dewling
Craig Dewling

Co-Chief Investment Officer of PGIM Fixed Income

Craig Dewling is Co-Chief Investment Officer of PGIM Fixed Income.

Mick Meyler
Mick Meyler

Managing Director and Head of PGIM Fixed Income's Developed Market Rates Team

Mick Meyler is a Managing Director and Head of PGIM Fixed Income's Developed Market Rates team, specializing in government securities, futures and interest rate swaps/derivatives

Robert Tipp, CFA
Robert Tipp, CFA

Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income

Robert Tipp, CFA, is a Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income.

Gary Wu, CFA
Gary Wu, CFA

Principal and a U.S. Government Portfolio Manager for PGIM's Fixed Income Multi-Sector and Liquidity Team

PGIM Fixed Income

Gary Wu, CFA, is a Principal and a U.S. government portfolio manager for PGIM Fixed Income's Multi-Sector and Liquidity Team.

Matthew Angelucci, CFA
Matthew Angelucci, CFA

Managing Director and Multi-Sector senior portfolio manager

PGIM Fixed Income

Matthew Angelucci, CFA, is a Managing Director and senior portfolio manager on the Multi-Sector Team responsible for Global Bond Strategies. 

Average Maturity is the average time to maturity for a bond. Duration measures investment risk that takes into account both a bond's interest payments and its value to maturity. Standard deviation depicts how widely returns vary around its average and is used to understand the range of returns most likely for a given fund. A higher standard deviation generally implies greater volatility. Due to data availability, statistics may not be as of the current reporting period.

Enhanced cash strategies are variations on traditional money market vehicles. They are designed to provide liquidity and principal preservation, but with more of an emphasis on seeking returns that are superior to those of traditional money market offerings.

Source: Benchmarks - Lipper Inc.; Statistics - Morningstar Inc.; All other data from PGIM, Inc.

© 2025 Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results.

BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg neither approves nor endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results obtained therefrom and, to the maximum extend allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.

Class R shares are closed to new investors. Class R6 and Z shares may be available to group retirement plans and institutional investors through certain retirement, mutual fund wrap and asset allocation programs. They may also be available to institutional investors. Class Z shares may be available through fee- or commission-based retail brokerage programs of certain financial intermediaries. Class A, C, and Z shares are generally closed to new retirement plans. Please see the prospectus for additional information about fees, expenses, and investor eligibility.

Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.

Investment products are distributed by Prudential Investment Management Services LLC (PIMS), member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. PGIM Fixed Income is a unit of PGIM, Inc., a registered investment advisor. PGIM Limited acts as a subadvisor to all fixed income funds. PGIM Limited is an indirect, wholly-owned subsidiary of PGIM, Inc. (“PGIM”), the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States. All are Prudential Financial affiliates. PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. ©2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Fixed Income, PGIM Limited, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.

INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate. 

Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

4377039    Ed. 04/2025

Fund Literature

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