PSF PGIM Total Return Bond Portfolio
Prudential Series Fund
Fund classification
Classified from what the fund holds · as of 2026 Q2
PSF PGIM Total Return Bond Portfolio is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2026 Q2
The investment objective of the Portfolio is a high level of income over a longer term while providing reasonable safety of capital.
The fund is managed by subadviser PGIM Fixed Income, which combines top-down economic analysis and bottom-up research with proprietary quantitative models to construct a portfolio of at least 80% bonds. The strategy emphasizes investment-grade debt and money market investments while permitting up to 30% in lower-rated speculative securities and up to 20% in international debt. The fund adjusts its mix of short-, intermediate-, and long-term obligations to benefit from interest rate declines and limit losses when rates rise. Because security selection depends on the subadviser's internal ratings, financial analysis, and expected total return assessments rather than a fixed index, portfolio composition will vary with those judgments.
| Share class | Expense ratio |
|---|---|
| C000005704 | 0.43% |
| C000226561 | 0.68% |
Portfolio turnover 96.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Securitized | 57.56% |
| Bonds | 37.58% |
| Cash & short-term | 2.11% |
| Loans | 1.01% |
| Stocks | 0.25% |
| Derivatives | -0.03% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified. The blend is as of 2025Q4, one or more quarters before the direct holdings (2026Q2).
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Securitized | 40.5% |
| Government | 25.2% |
| Other | 8.6% |
| Financials | 7.3% |
| 12 smaller | 18.4% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: BATTALION CLO LTD 2024-25, FEDERAL HOME LOAN MORTGAGE CORP ×2, FEDERAL NATIONAL MORTGAGE ASSOCIATION ×2, UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT ×2, BX TRUST 2026-ORBT
Largest exited: Federal National Mortgage Association ×2, BARROW HANLEY CLO III LTD, ELEVATION CLO 2021-12 LTD, Agl Clo 9 Ltd/ Llc, OFSI BSL XIII CLO LTD, United States Treasury Bonds, Bain Capital Credit Clo 2024-2 Ltd.
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
This fund changed legal form during the period shown. The history above is continuous — it spans both eras, and the change is not a gap in reporting.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 75.6% |
| Floating rate | 23.1% |
| Zero-coupon or unclassified | 1.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.4% |
| 1-3y | 7.9% |
| 3-5y | 10.2% |
| 5-10y | 22.2% |
| 10y+ | 57.5% |
| Unknown | 0.8% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 64% |
| Credit spreads | 36% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +3.02 yr |
| High yield | +0.27 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.04 yr | 1% |
| 1 yr | 0.60 yr | 10% |
| 5 yr | 1.73 yr | 30% |
| 10 yr | 2.38 yr | 41% |
| 30 yr | 1.00 yr | 17% |
| 3 mo | 0.02 yr | 1% |
| 1 yr | 0.53 yr | 16% |
| 5 yr | 1.94 yr | 59% |
| 10 yr | 0.75 yr | 23% |
| 30 yr | 0.06 yr | 2% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.04 | +0.02 | +0.00 | $4.1k | $860 |
| 1 yr | +0.60 | +0.43 | +0.10 | $106.2k | $25.7k |
| 5 yr | +1.73 | +1.79 | +0.14 | $445.8k | $36.0k |
| 10 yr | +2.38 | +0.73 | +0.02 | $181.8k | $4.3k |
| 30 yr | +1.00 | +0.06 | +0.00 | $13.8k | $82 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Duration contribution in years, summing to the fund's 5.75 yr.
This is where the fund's rate exposure sits, not its currency risk — most international bond funds hedge the currency back to dollars, and the size of those hedges is not in the filing. Tenors are also summed across curves, so a 5-year JPY point and a 5-year USD point are added together.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.63% · due 2044-05-15 | 3.37% | $83.76M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.75% · due 2032-11-30 | 3.03% | $75.36M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.00% · due 2033-01-31 | 2.40% | $59.60M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.63% · due 2044-11-15 | 1.96% | $48.71M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT2.38% · due 2051-05-15 | 1.92% | $47.69M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.88% · due 2032-12-31 | 1.32% | $32.95M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT4.13% · due 2044-08-15 | 1.29% | $31.98M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT1.88% · due 2051-02-15 | 1.10% | $27.33M | — |
| — | BATTALION CLO LTD 2024-250.00% floating · due 2039-07-20 | 0.90% | $22.50M | — |
| — | FEDERAL HOME LOAN MORTGAGE CORP5.00% · due 2056-02-01 | 0.83% | $20.70M | — |
Top 10 positions are 18.11% of net assets, top 25 26.82%, across 793 issuers.
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