| Description | Shares | Value | |||
| Short-Term Investments 101.6% | |||||
| Affiliated Mutual Fund 21.1% | |||||
| PGIM Core Government Money Market Fund (7-day effective yield 3.780%) (cost $5,561,433)(bb)(wb) | 5,561,433 | $5,561,433 | |||
| Interest Rate | Maturity Date | Principal Amount (000)# | ||||||
| U.S. Treasury Obligations 80.5% | ||||||||
| U.S. Treasury Bills | 3.627 %(bb)(s) | 06/30/26(k) | 3,000 | 2,981,864 | ||||
| U.S. Treasury Bills | 3.639(s) | 06/30/26 | 7,000 | 6,957,683 | ||||
| U.S. Treasury Bills | 3.673(s) | 10/08/26 | 11,500 | 11,316,946 | ||||
| Total U.S. Treasury Obligations (cost $21,255,773) | 21,256,493 | |||||||
| TOTAL INVESTMENTS 101.6% (cost $26,817,206) | 26,817,926 | |||||||
| Liabilities in excess of other assets(z) (1.6)% | (425,543) | |||||||
| Net Assets 100.0% | $26,392,383 | |||||||
| Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: |
| LME—London Metal Exchange | ||
| PRI—Primary Rate Interface | ||
| RBOB—Reformulated Gasoline Blendstock for Oxygen Blending | ||
| ULSD—Ultra-Low Sulfur Diesel | ||
| WTI—West Texas Intermediate | ||
| # | Principal amount is shown in U.S. dollars unless otherwise stated. |
| (bb) | Represents security, or a portion thereof, held in the Cayman Subsidiary. |
| (k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
| (s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
| (wb) | Represents an investment in a Fund affiliated with the Manager. |
| (z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
| Commodity Futures contracts outstanding at April 30, 2026(1): | ||||||||
| Number of Contracts | Type | Expiration Date | Current Notional Amount | Value/ Unrealized Appreciation (Depreciation) | ||||
| Long Positions: | ||||||||
| 32 | Brent Crude | Jul. 2026 | $3,532,800 | $954,635 | ||||
| 7 | Cocoa | Jul. 2026 | 249,830 | 27,633 | ||||
| 7 | Coffee ’C’ | Jul. 2026 | 749,569 | 9,598 | ||||
| 7 | Copper | Jul. 2026 | 1,046,588 | 64,358 | ||||
| 46 | Corn | Jul. 2026 | 1,091,925 | 25,508 | ||||
| 2 | Cotton No. 2 | Jul. 2026 | 82,200 | 6,210 | ||||
| 6 | Gasoline RBOB | Jul. 2026 | 868,720 | 93,292 | ||||
| 7 | Gold 100 OZ | Jun. 2026 | 3,240,720 | (347,500) | ||||
| 15 | Hard Red Winter Wheat | Jul. 2026 | 520,125 | 51,388 | ||||
| 12 | Lean Hogs | Jun. 2026 | 490,920 | (32,160) | ||||
| 10 | Live Cattle | Jun. 2026 | 1,016,000 | 74,136 | ||||
| 6 | LME Lead | May 2026 | 292,833 | (3,394) | ||||
| 4 | LME Lead | Jul. 2026 | 195,326 | 942 | ||||
| 8 | LME Nickel | May 2026 | 927,314 | 103,908 | ||||
| 2 | LME Nickel | Jul. 2026 | 233,439 | 30,359 | ||||
| 18 | LME PRI Aluminum | May 2026 | 1,590,399 | 171,155 | ||||
| 15 | LME PRI Aluminum | Jul. 2026 | 1,308,026 | 2,977 | ||||
| 10 | LME Zinc | May 2026 | 841,770 | 18,630 | ||||
| 8 | LME Zinc | Jul. 2026 | 674,010 | 4,804 | ||||
| 11 | Low Sulphur Gas Oil | Jul. 2026 | 1,261,425 | 65,150 | ||||
| Commodity Futures contracts outstanding at April 30, 2026(1) (continued): | ||||||||
| Number of Contracts | Type | Expiration Date | Current Notional Amount | Value/ Unrealized Appreciation (Depreciation) | ||||
| Long Positions (cont’d): | ||||||||
| 66 | Natural Gas | Jul. 2026 | $2,009,040 | $(97,032) | ||||
| 23 | No. 2 Soft Red Winter Wheat | Jul. 2026 | 732,263 | 36,847 | ||||
| 7 | NY Harbor ULSD | Jul. 2026 | 1,143,131 | 62,151 | ||||
| 2 | Silver | Jul. 2026 | 740,280 | 27,205 | ||||
| 18 | Soybean | Jul. 2026 | 1,075,950 | 9,493 | ||||
| 22 | Soybean Meal | Jul. 2026 | 701,580 | 6,291 | ||||
| 15 | Soybean Oil | Jul. 2026 | 670,860 | 45,588 | ||||
| 40 | Sugar #11 (World) | Jul. 2026 | 654,528 | (6,347) | ||||
| 27 | WTI Crude | Jul. 2026 | 2,676,780 | 220,255 | ||||
| 1,626,080 | ||||||||
| Short Positions: | ||||||||
| 6 | LME Lead | May 2026 | 292,833 | (5,786) | ||||
| 8 | LME Nickel | May 2026 | 927,314 | (113,273) | ||||
| 18 | LME PRI Aluminum | May 2026 | 1,590,399 | (47,184) | ||||
| 3 | LME PRI Aluminum | Jul. 2026 | 261,605 | 5,011 | ||||
| 10 | LME Zinc | May 2026 | 841,770 | (24,930) | ||||
| (186,162) | ||||||||
| $1,439,918 | ||||||||
| (1) | Represents positions held in the Cayman Subsidiary. |