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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

The Fund’s investment objective is to outperform the Russell 2000 Index. 

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: Small Blend
Total Net Assets: $11 Million
Dividends (Paid): Annually
Dividends (Accrued):
Capital Gains: Annually
Fund StatisticS
AS OF 07/31/2025
Name
Weight
Avg Weighted Market Cap ($mil) 3,910.50
Beta (3 year) 1.13
P/E (Price/Earnings) Ratio 18.10
Standard Deviation (3 year) 20.23
Turnover Ratio (12-month %) 87.00

Morningstar Ratings

AS OF 07/31/2025
Class R6 Shares
Overall (Out of 524 Funds)
star-icon star-icon star-icon star-icon
3-Year (Out of 524 Funds)
star-icon star-icon star-icon
5-Year (Out of 507 Funds)
star-icon star-icon star-icon star-icon

Source: Morningstar. Morningstar Ratings may be calculated based on share class adjusted historical returns. If so, the fund’s independent Morningstar Rating metric uses the fund’s oldest class to determine its hypothetical rating for certain periods. Morningstar Ratings are calculated for managed products with a 3-year minimum history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. 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 consistent performance, 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.

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 Jennison Small-Cap Core Equity Fund (Class R6) Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 12/31/2024 for the Small-Cap Growth Funds category were: 67/992, 737/955, 47/908, and N/A, 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 R6 Lipper total return ranking for the 1-, 3-, 5-, and 10-year periods as of 6/30/2025: 376/992, 375/947, 496/904, and N/A, 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: Small company stocks present above-average risks in comparison to larger companies. The Fund's blend investment style may subject the Fund to the risks of both value and growth investing. Equity and equity-related securities may be subject to changes in value, and their values may be more volatile than those of other asset classes. The financials sector can be adversely affected by regulatory changes, interest rate movements, the availability of capital and cost to borrow, and the rate of debt defaults. Industrial sector investments may be adversely affected by changes in the supply of and demand for products and services, product obsolescence, claims for environmental damage or product liability and changes in general economic conditions. Information technology companies face intense competition which may have an adverse effect on their profit margins, and may have limited product lines, markets, financial resources, or personnel. The Fund may buy initial public offerings which are often subject to greater and more unpredictable price changes than more established stocks. 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 Jennison Small-Cap Core Equity Fund.
See Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Jennison Small-Cap Core Equity Fund.

See Daily Returns for the PGIM Jennison Small-Cap Core Equity Fund.
See Quarterly SEC Standardized Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM Jennison Small-Cap Core Equity Fund.

Fund Expenses
Maximum Sales Charge (%)
Class
Gross (%)
Net (%)
Date*
R6 2.31 0.95 11/30/2025

*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 Small Growth Category Average: Small-growth portfolios focus on faster-growing companies whose shares are at the lower end of the market-capitalization range. These portfolios tend to favor companies in up-and-coming industries or young firms in their early growth stages. Because these businesses are fast-growing and often richly valued, their stocks tend to be volatile. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields).

Russell 2000 Index measures the performance of the small- to mid-cap segment of the U.S. equity universe. The Index is a subset of the Russell 3000 Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. The Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set.

The index and Russell are trademarks of the Frank Russell Company. Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2025. FTSE Russell is a trading name of certain of the LSE Group companies. Russell® is a trade mark of the relevant LSE Group companies and is/are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

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

Prices

AS OF 08/28/2025
Class
NAV ($)
NAV Change ($)
NAV Change (%)
POP ($)
Total Net Assets ($)
R6 14.51 0.03 0.21 12,299,152.46

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 08/28/2025
Class
52 Week High ($)
52 Week High Date
52 Week Low ($)
52 Week Low Date
R6 17.03 12/04/2024 11.37 04/08/2025

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.

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 07/31/2025
Largest Holdings (% of Assets)
VSE Corp. 2.1%
Q2 Holdings 1.8%
The Chefs' Warehouse Inc. 1.7%
Eldorado Gold Corp. 1.7%
Shake Shack 1.7%
IDACORP 1.7%
Tower Semiconductor 1.7%
Casella Waste Systems 1.6%
Arcutis Biotherapeutics 1.6%
Independence Realty Trust 1.5%
Sector Breakdown (% of Assets)
Industry
Fund (% of Assets)
Financials 19.8%
Industrials 19.6%
Information Technology 14.6%
Healthcare 12.9%
Consumer Discretionary 9.3%
Real Estate 6.6%
Energy 4.0%
Materials 3.9%
Consumer Staples 3.2%
Utilities 3.2%
Communication Services 0.5%
Cash/Equiv 2.6%
Largest Industries (% of Assets)
Banks 10.2%
Software 7.7%
Commercial Services & Supplies 5.0%
Biotechnology 4.9%
Semiconductors & Equipment 4.9%
Fund Statistics
AS OF 07/31/2025
Fund Statistics
Years
Avg Weighted Market Cap ($mil) 3,910.50
Beta (3 year) 1.13
P/E (Price/Earnings) Ratio 18.1
Standard Deviation (3 year) 20.23
Turnover Ratio (12-month %) 87

All data is unaudited and subject to change. Holdings/allocations may vary. This is not a recommendation to buy or sell any security listed. Largest holdings excludes cash, cash equivalents, money market funds and enhanced cash strategies. Totals may not sum due to rounding.

*Diversified sector represents real estate companies that own properties across multiple sectors.

Fund Holdings

AS OF 07/31/2025

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, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. Jennison Associates is a registered investment advisor. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, Jennison Associates, Jennison, 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
74440W862 (pipa070) Pgim Core Government Money Mar 4.41 12/01/2099 266,179.00 266,179.00 2.40
918284100 VSE Corp VSEC 1,494.00 233,870.00 2.10
74736L109 Q2 Holdings Inc QTWO 2,443.00 198,371.00 1.79
163086101 Chefs' Warehouse Inc/the CHEF 2,825.00 193,682.00 1.74
284902509 Eldorado Gold Corp EGO 9,238.00 189,379.00 1.70
819047101 Shake Shack Inc SHAK 1,550.00 186,527.00 1.68
451107106 Idacorp Inc IDA 1,481.00 185,613.00 1.67
2898173 Tower Semiconductor Ltd TSEM 4,040.00 184,830.00 1.66
147448104 Casella Waste Systems Inc CWST 1,672.00 181,796.00 1.64
03969K108 Arcutis Biotherapeutics Inc ARQT 12,169.00 177,424.00 1.60
45378A106 Independence Realty Trust Inc IRT 10,218.00 171,355.00 1.54
2677606 AXIS Capital Holdings Ltd AXS 1,814.00 170,225.00 1.53
BD9G2S1 Gates Industrial Corp Plc GTES 6,862.00 170,177.00 1.53
10948W103 Acadian Asset Management Inc AAMI 4,034.00 168,580.00 1.52
165303108 Chesapeake Utilities Corp CPK 1,385.00 166,033.00 1.49
03076K108 Ameris Bancorp ABCB 2,110.00 144,218.00 1.30
45827U109 Intapp Inc INTA 3,598.00 144,099.00 1.30
497266106 Kirby Corp KEX 1,508.00 143,727.00 1.29
402635502 Gulfport Energy Corp GPOR 826 143,831.00 1.29
258278100 Dorman Products Inc DORM 1,173.00 141,487.00 1.27
00091G104 ACV Auctions Inc ACVA 9,513.00 135,179.00 1.22
500643200 KORN Ferry KFY 1,880.00 133,235.00 1.20
447462102 Huron Consulting Group Inc HURN 997 131,683.00 1.19
87650L103 Tarsus Pharmaceuticals Inc TARS 3,330.00 129,270.00 1.16
053604104 Avepoint Inc AVPT 6,673.00 127,320.00 1.15
922280102 Varonis Systems Inc VRNS 2,223.00 124,110.00 1.12
505743104 Ladder Capital Corp LADR 10,832.00 118,285.00 1.06
97650W108 Wintrust Financial Corp WTFC 912 116,717.00 1.05
93403J106 Warby Parker Inc WRBY 4,826.00 115,582.00 1.04
75970E107 Renasant Corp RNST 3,092.00 113,290.00 1.02
293712105 Enterprise Financial Services Corp EFSC 2,063.00 113,856.00 1.02
91704F104 Urban Edge Properties UE 5,663.00 111,674.00 1.01
222795502 Cousins Properties Inc CUZ 4,092.00 110,893.00 1.00
535555106 Lindsay Corp LNN 804 109,754.00 0.99
60786M105 Moelis & Co MC 1,557.00 109,207.00 0.98
665531307 Northern Oil & Gas Inc NOG 3,790.00 106,726.00 0.96
450056106 Irhythm Technologies Inc IRTC 757 106,116.00 0.96
21044C107 Construction Partners Inc ROAD 1,053.00 106,195.00 0.96
296006109 ERO Copper Corp ERO 7,786.00 105,266.00 0.95
421298100 Hayward Holdings Inc HAYW 6,854.00 105,414.00 0.95
453204109 Impinj Inc PI 678 104,805.00 0.94
127203107 Cactus Inc WHD 2,467.00 104,378.00 0.94
896522109 Trinity Industries Inc TRN 4,473.00 104,220.00 0.94
918090101 UTZ Brands Inc UTZ 7,888.00 102,780.00 0.93
27627N105 Eastern Bankshares Inc EBC 6,623.00 102,325.00 0.92
33829M101 FIVE Below Inc FIVE 736 100,478.00 0.90
318910106 First Bancorp/southern Pines Nc FBNC 2,002.00 100,280.00 0.90
81663L200 Genedx Holdings Corp WGS 986 100,522.00 0.90
42722X106 Heritage Financial Corp/wa HFWA 4,364.00 98,364.00 0.89
32055Y201 First Interstate Bancsystem Inc FIBK 3,312.00 95,352.00 0.86
390607109 Great Lakes Dredge & Dock Corp GLDD 8,495.00 94,124.00 0.85
50050N103 Kontoor Brands Inc KTB 1,689.00 94,009.00 0.85
978097103 Wolverine World Wide Inc WWW 4,185.00 94,497.00 0.85
903002103 UMH Properties Inc UMH 5,752.00 93,642.00 0.84
925050106 Verona Pharma Plc VRNA 864 90,797.00 0.82
099406100 BOOT Barn Holdings Inc BOOT 530 91,107.00 0.82
292765104 Enerpac Tool Group Corp EPAC 2,321.00 89,381.00 0.80
82982T106 Sitime Corp SITM 419 84,994.00 0.76
830940102 Skyward Specialty Insurance Group Inc SKWD 1,670.00 84,468.00 0.76
44952J104 Crescent Energy Co CRGY 8,971.00 82,892.00 0.75
60471A101 Mirion Technologies Inc MIR 3,682.00 82,292.00 0.74
BQXP757 Marex Group Plc MRX 2,137.00 82,445.00 0.74
156504300 Century Communities Inc CCS 1,416.00 79,706.00 0.72
68404L201 Option Care Health Inc OPCH 2,678.00 78,599.00 0.71
750491102 Radnet Inc RDNT 1,375.00 75,253.00 0.68
90184D100 Twist Bioscience Corp TWST 2,266.00 76,069.00 0.68
729640102 Plymouth Industrial Reit Inc PLYM 5,156.00 74,865.00 0.67
637870106 National Storage Affiliates Trust NSA 2,513.00 74,032.00 0.67
04911A107 Atlantic Union Bankshares Corp AUB 2,294.00 72,719.00 0.65
534187109 Lincoln National Corp LNC 1,889.00 71,989.00 0.65
39813G109 GRID Dynamics Holdings Inc GDYN 7,458.00 70,776.00 0.64
28618M106 Element Solutions Inc ESI 3,021.00 71,295.00 0.64
85209W109 Sprout Social Inc SPT 4,050.00 69,457.00 0.63
598511103 Midwestone Financial Group Inc MOFG 2,520.00 69,400.00 0.62
946784105 Waystar Holding Corp WAY 1,857.00 68,671.00 0.62
92538J106 Vertex Inc VERX 2,034.00 67,467.00 0.61
BFWGXR8 Essent Group Ltd ESNT 1,203.00 67,355.00 0.61
707569109 PENN Entertainment Inc PENN 3,712.00 67,038.00 0.60
74112D101 Prestige Consumer Healthcare Inc PBH 898 66,407.00 0.60
428291108 Hexcel Corp HXL 1,113.00 66,679.00 0.60
05368V106 Avient Corp AVNT 2,049.00 64,686.00 0.58
00191U102 ASGN Inc ASGN 1,271.00 63,727.00 0.57
22663K107 Crinetics Pharmaceuticals Inc CRNX 2,202.00 62,955.00 0.57
72346Q104 Pinnacle Financial Partners Inc PNFP 723 63,544.00 0.57
82452J109 Shift4 Payments Inc FOUR 620 63,860.00 0.57
BLD13F2 Credo Technology Group Holding Ltd CRDO 546 60,906.00 0.55
53228F101 Lifestance Health Group Inc LFST 15,324.00 60,989.00 0.55
866082100 Summit Hotel Properties Inc INN 11,405.00 59,534.00 0.54
91347P105 Universal Display Corp OLED 413 59,637.00 0.54
398433102 Griffon Corp GFF 718 58,351.00 0.53
589378108 Mercury Systems Inc MRCY 1,098.00 57,743.00 0.52
19239V302 Cogent Communications Holdings Inc CCOI 1,274.00 58,081.00 0.52
781846209 RUSH Enterprises Inc RUSHA 1,066.00 57,713.00 0.52
BP8JSP4 Newamsterdam Pharma Co Nv NAMS 2,614.00 57,011.00 0.51
302492103 Flywire Corp FLYW 5,083.00 55,353.00 0.50
358039105 Freshpet Inc FRPT 818 55,885.00 0.50
381013101 Golden Entertainment Inc GDEN 1,963.00 55,199.00 0.50
485924104 Karman Holdings Inc KRMN 1,027.00 53,095.00 0.48
40131M109 Guardant Health Inc GH 1,223.00 50,118.00 0.45
BMGTPT8 Riskified Ltd RSKD 9,749.00 49,719.00 0.45
CURRENCY Currency 48,381.00 48,380.00 0.44
31846B108 First Advantage Corp FA 2,704.00 46,752.00 0.42
206704108 Concrete Pumping Holdings Inc BBCP 6,680.00 45,624.00 0.41
98983L108 ZURN Elkay Water Solutions Corp ZWS 1,032.00 45,666.00 0.41
834203309 Soleno Therapeutics Inc SLNO 525 45,396.00 0.41
816850101 Semtech Corp SMTC 899 45,938.00 0.41
BTRVNM1 Aspen Insurance Holdings Ltd AHL 1,366.00 43,151.00 0.39
185123106 Clearwater Analytics Holdings Inc CWAN 2,084.00 42,221.00 0.38
566324109 Marcus & Millichap Inc MMI 1,186.00 36,955.00 0.33
11373M107 Brookline Bancorp Inc BRKL 3,450.00 35,604.00 0.32
05368X102 Avidxchange Holdings Inc AVDX 3,462.00 34,135.00 0.31
46571Y107 I3 Verticals Inc IIIV 1,184.00 33,128.00 0.30
76243J105 Rhythm Pharmaceuticals Inc RYTM 386 32,898.00 0.30
20603L102 Concentra Group Holdings Parent Inc CON 1,630.00 32,551.00 0.29
80706P103 Scholar Rock Holding Corp SRRK 839 31,084.00 0.28
03753U106 Apellis Pharmaceuticals Inc APLS 1,346.00 30,069.00 0.27
457730109 Inspire Medical Systems Inc INSP 169 21,047.00 0.19
92243G108 Vaxcyte Inc PCVX 506 17,178.00 0.15
142152107 Caris Life Sciences Inc CAI 404 11,344.00 0.10
68170A108 Omada Health Inc OMDA 352 6,167.00 0.06

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”).

VISITOR agrees and acknowledges that the CUSIP Database and the information contained therein is and shall remain valuable intellectual property owned by, or licensed to, CGS and ABA, and that no proprietary rights are being transferred to VISITOR in such materials or in any of the information contained therein by virtue of VISITOR’s use of Subscriber’s Web Site. Any use of the CUSIP Database by VISITOR outside of the clearing and settlement of transactions may require a license from CGS, along with an associated fee based on usage.

VISITOR agrees that misappropriation or misuse of such materials will cause serious damage to CGS and ABA, and that in such event, money damages may not constitute sufficient compensation to CGS and ABA; consequently, VISITOR agrees that in the event of any misappropriation or misuse, CGS and ABA shall have the right to obtain injunctive relief in addition to any other legal or financial remedies to which CGS and ABA may be entitled.

VISITOR agrees that VISITOR shall not publish or distribute in any medium the CUSIP Database or any substantial portion of the information contained therein or summaries or subsets thereof to any person or entity unless permitted by a direct agreement with CGS. VISITOR may not create or maintain a master file or database of CUSIP identifiers or descriptions for itself or any third party recipient that is intended to serve as a substitute for any CUSIP service.

VISITOR agrees not to:

(a) Violate the restrictions in any robot inclusion headers on the Subscriber Web Site or in any way bypass or circumvent any other measure employed to limit or prevent access to the CUSIP Database on the Subscriber Web Site;

(b) Violate the security of the Subscriber Web Site or attempt to gain unauthorized access to the Web Site, CUSIP Database, materials, information, computer systems or networks connected to Subscriber server, through hacking, password mining or any other means; or

(c) Interfere or attempt to interfere with the proper working of the Subscriber Web Site or any activities conducted on or through the Subscriber Web Site, including accessing any CUSIP Database, content or other information prior to the time that is intended to be available to the public on the Subscriber Web Site;

NEITHER CGS, ABA NOR ANY OF THEIR AFFILIATES MAKE ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF ANY OF THE INFORMATION CONTAINED IN THE CUSIP DATABASE. ALL SUCH MATERIALS ARE PROVIDED TO VISITOR ON AN “AS IS” BASIS, WITHOUT ANY WARRANTIES AS TO MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE NOR WITH RESPECT TO THE RESULTS WHICH MAY BE OBTAINED FROM THE USE OF SUCH MATERIALS. NEITHER CGS, ABA NOR THEIR AFFILIATES SHALL HAVE ANY RESPONSIBILITY OR LIABILITY FOR ANY ERRORS OR OMISSIONS NOR SHALL THEY BE LIABLE FOR ANY DAMAGES, WHETHER DIRECT OR INDIRECT, SPECIAL OR CONSEQUENTIAL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL THE LIABILITY OF CGS, ABA OR ANY OF THEIR AFFILIATES PURSUANT TO ANY CAUSE OF ACTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE, EXCEED THE FEE PAID BY VISITOR FOR ACCESS TO SUCH MATERIALS IN THE MONTH IN WHICH SUCH CAUSE OF ACTION IS ALLEGED TO HAVE ARISEN. FURTHERMORE, CGS AND ABA SHALL HAVE NO RESPONSIBILITY OR LIABILITY FOR DELAYS OR FAILURES DUE TO CIRCUMSTANCES BEYOND THEIR CONTROL.

VISITOR agrees that the foregoing terms and conditions shall survive any termination of its right of access to the materials identified above.

ABOUT

Jennison 50 Year Anniversary Logo

Jennison Associates is one of the nation's leading managers of growth, value, blend, and specialty equity strategies. It has earned a reputation for excellence by fulfilling the needs of clients for more than 50 years.

Jonathan M. Shapiro, Eric Sartorius, CFA and Jason Swiatek, CFA are the portfolio managers for the PGIM Jennison Small-Cap Core Equity Fund.

Jonathan M. Shapiro
Jonathan M. Shapiro

Managing Director, Financial Services and SMid Cap Portfolio Manager and Equity Research Analyst

Jennison Associates

Jonathan M. Shapiro is a managing director, financial services and smid cap core portfolio manager and an equity research analyst.

Eric Sartorius, CFA
Eric Sartorius, CFA

Managing Director, Small Cap Core, Mid Cap Growth, and Technology Equity Portfolio Manager

Jennison Associates

Eric Sartorius, CFA, is a Managing Director, small cap core, mid cap growth and technology equity portfolio manager, and research analyst

Jason Swiatek, CFA
Jason Swiatek, CFA

Head of Small and Mid-Cap Equity and a Small and SMid Cap Equity Portfolio Manager

Jennison Associates

Jason M. Swiatek, CFA, is the Head of Small and Mid-Cap Equity, and a small and SMid cap equity portfolio manager

Average weighted market capitalization is the average market capitalization of stocks in a fund, each weighted by its proportion of assets. Beta measures a fund’s sensitivity to changes in the overall market relative to its benchmark. The P/E Ratio (Source: Morningstar, Inc.) relates the price of a stock to the per-share earnings of the company. P/E is calculated using a harmonic weighted average, which excludes outliers that can easily skew results. 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. Turnover Ratio is the rate of trading in a portfolio, higher values imply more frequent trading. 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.; Sector classification - S&P/MSCI. *This figure is comprised of companies that have been classified by S&P/MSCI GICS or classified by Jennison Associates LLC. Companies classified by Jennison Associates LLC are not sponsored by the S&P/MSCI GICS classification system. All other data from PGIM, Inc. (PGIM).

© 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.

Class R6 shares may be available to group retirement plans, institutional investors, and individuals through certain retirement, mutual fund wrap and asset allocation programs. 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, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. Jennison Associates is a registered investment advisor. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, Jennison Associates, Jennison, 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.

4359845    Ed. 03/2025

Fund Literature

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