Prudential Jennison Blend Fund Inc.

11/01/2024 | Press release | Distributed by Public on 11/01/2024 09:37

Annual Report by Investment Company Form N CSR

Jennison Blend
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number:
811-03336
Exact name of registrant as specified in charter: Prudential Jennison Blend Fund, Inc.
Address of principal executive offices: 655 Broad Street, 6
th
Floor
Newark, New Jersey 07102
Name and address of agent for service: Andrew R. French
655 Broad Street, 6
th
Floor
Newark, New Jersey 07102
Registrant's telephone number, including area code:
800-225-1852
Date of fiscal year end: 8/31/2024
Date of reporting period: 8/31/2024
Item 1 - Reports to Stockholders
(a) Report transmitted to stockholders pursuant to Rule
30e-1
under the Act (17 CFR
270.30e-1).
PGIM Jennison Blend Fund
Class A:
PBQAX
ANNUAL SHAREHOLDER REPORT - August 31, 2024
This annual shareholder report contains important information about the Class A shares of PGIM Jennison Blend Fund (the "Fund") for the period
of September 1, 2023 to August 31, 2024.
You can find additional information about the Fund at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
.
You can also request
this information by contacting us at
(800) 225-1852
or (973) 367-3529 from outside the US.
This report describes changes to the Fund that occurred during the reporting period.
WHAT WERE THE FUND COSTS FOR THE LAST YEAR?
(Based on a hypothetical $10,000 investment)
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
PGIM Jennison Blend Fund-Class A
$105
0.93%
WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?
■
During the reporting period, equities posted solid results driven by better-than-expected earnings across a broad swath of the market, along
with enthusiasm regarding artificial intelligence, the end of US Federal Reserve (Fed) interest rate hikes and the Fed's shift to an easing stance,
continued progress on inflation moving toward the Fed's sub-2.0% target, and positive growth and resiliency in the US economy.
■
Stock selection broadly contributed to the Fund's overall positive performance relative to the Index, especially within the consumer staples,
information technology, consumer discretionary, and financial services sectors.
■
Conversely, security
selection
within the utilities sector, along with underweights in information technology and communication services and a
slight overweight in energy, detracted from performance relative to the Index.
MF101EA
HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?
The Fund's past performance is not a good predictor of the Fund's future performance.
The returns do not reflect the deduction of
taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.
Visit
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.
The line graph reflects a hypothetical $10,000 investment in Class A shares and assumes that all recurring fees (including management fees)
were deducted and dividend and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would
have been lower.
Cumulative Performance: August 31, 2014 to August 31, 2024
Initial Investment of $10,000
The line graph reflects the return on the Fund's Class A shares with sales charges.
Average Annual Total Returns as of 8/31/2024
One Year (%)
Five Years (%)
Ten Years (%)
Class A with sales charges
19.82%
12.69%
9.55%
Class A without sales charges
26.79%
13.97%
10.17%
Russell 3000 Index
26.14%
15.19%
12.36%
Broad-Based Securities Market Index: S&P 500 Index
27.14%
15.92%
12.98%
WHAT ARE SOME KEY FUND STATISTICS AS OF 8/31/2024?
Fund's net assets
$
1,094,803,758
Number of fund holdings
282
Total advisory fees paid for the year
$
4,855,624
Portfolio turnover rate for the year
47%
WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 8/31/2024?
Industry Classification
% of Net
Assets
Semiconductors & Semiconductor Equipment
8.7%
Banks
8.6%
Software
8.1%
Pharmaceuticals
5.3%
Interactive Media & Services
4.6%
Biotechnology
4.6%
Broadline Retail
3.8%
Technology Hardware, Storage & Peripherals
3.7%
Insurance
3.2%
Oil, Gas & Consumable Fuels
3.1%
Financial Services
2.8%
Machinery
2.7%
Aerospace & Defense
2.6%
Capital Markets
2.4%
Consumer Staples Distribution & Retail
2.2%
Health Care Providers & Services
2.0%
Entertainment
1.7%
Hotels, Restaurants & Leisure
1.5%
Chemicals
1.4%
Automobiles
1.4%
Multi-Utilities
1.3%
Affiliated Mutual Fund - Short-Term Investment
1.3%
Household Durables
1.2%
Health Care Equipment & Supplies
1.2%
Specialty Retail
1.1%
Metals & Mining
1.1%
IT Services
1.0%
Food Products
1.0%
Commercial Services & Supplies
1.0%
Building Products
1.0%
Energy Equipment & Services
0.9%
Ground Transportation
0.9%
Residential REITs
0.9%
Construction & Engineering
0.7%
Industry Classification
% of Net
Assets
Electric Utilities
0.6%
Electrical Equipment
0.6%
Professional Services
0.6%
Communications Equipment
0.6%
Electronic Equipment, Instruments & Components
0.6%
Marine Transportation
0.6%
Automobile Components
0.5%
Personal Care Products
0.5%
Media
0.5%
Beverages
0.5%
Specialized REITs
0.5%
Trading Companies & Distributors
0.5%
Office REITs
0.5%
Passenger Airlines
0.4%
Health Care REITs
0.4%
Retail REITs
0.4%
Mortgage Real Estate Investment Trusts (REITs)
0.3%
Household Products
0.3%
Health Care Technology
0.3%
Industrial REITs
0.3%
Textiles, Apparel & Luxury Goods
0.3%
Diversified Telecommunication Services
0.2%
Hotel & Resort REITs
0.2%
Diversified Consumer Services
0.2%
Gas Utilities
0.2%
Consumer Finance
0.1%
Real Estate Management & Development
0.1%
Water Utilities
0.1%
Life Sciences Tools & Services
0.1%
Leisure Products
0.1%
100.1%
Liabilities in excess of other assets
(0.1)%
100.0%
WERE THERE ANY CHANGES TO THE FUND THIS YEAR?
The following is a summary of certain changes to the Fund since September 1, 2023:
■
The Fund's principal risk disclosure was revised to include Sector Exposure Risk as a principal risk of the Fund due to changes in the Fund's
portfolio which may result in greater exposure to certain economic sectors.

For more complete information, you should review the Fund's next prospectus, which we expect to be available by October 30, 2024 at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or by request at (800) 225-1852.
ADDITIONAL INFORMATION
You can find additional information at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or by scanning the QR code below,
including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by
contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.
To receive your fund documents online, go to
pgim.com/investments/resource/edelivery
and enroll.
PGIM Jennison Blend Fund
SHARE CLASS
A
NASDAQ
PBQAX
CUSIP
74441T108
MF101EA
PGIM Jennison Blend Fund
Class C:
PRECX
ANNUAL SHAREHOLDER REPORT - August 31, 2024
This annual shareholder report contains important information about the Class C shares of PGIM Jennison Blend Fund (the "Fund") for the period
of September 1, 2023 to August 31, 2024.
You can find additional information about the Fund at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
. You can also request
this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.
This report describes changes to the Fund that occurred during the reporting period.
WHAT WERE THE FUND COSTS FOR THE LAST YEAR?
(Based on a hypothetical $10,000 investment)
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
PGIM Jennison Blend Fund-Class C
$213
1.89%
WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?
■
During the reporting period, equities posted solid results driven by better-than-expected earnings across a broad swath of the market, along
with enthusiasm regarding artificial intelligence, the end of US Federal Reserve (Fed) interest rate hikes and the Fed's shift to an easing stance,
continued progress on inflation moving toward the Fed's sub-2.0% target, and positive growth and resiliency in the US economy.
■
Stock selection broadly contributed to the Fund's overall positive performance relative to the Index, especially within the consumer staples,
information technology, consumer discretionary, and financial services sectors.
■
Conversely, security selection within the utilities sector, along with underweights in information technology and communication services and a
slight overweight in energy, detracted from performance relative to the Index.
MF101EC
HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?
The Fund's past performance is not a good predictor of the Fund's future performance.
The returns do not reflect the deduction of
taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.
Visit
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.
The line graph reflects a hypothetical $10,000 investment in Class C shares and assumes that all recurring fees (including management fees)
were deducted and dividend
and
distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would
have been lower.
Cumulative Performance: August 31, 2014 to August 31, 2024
Initial Investment of $10,000
Average Annual Total Returns as of 8/31/2024
One Year (%)
Five Years (%)
Ten Years (%)
Class C with sales charges
24.62%
12.82%
9.20%
Class C without sales charges
25.62%
12.82%
9.20%
Russell 3000 Index
26.14%
15.19%
12.36%
Broad-Based Securities Market Index: S&P 500 Index
27.14%
15.92%
12.98%
WHAT ARE SOME KEY FUND STATISTICS AS OF 8/31/2024?
Fund's net assets
$
1,094,803,758
Number of fund holdings
282
Total advisory fees paid for the year
$
4,855,624
Portfolio turnover rate for the year
47%
WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 8/31/2024?
Industry Classification
% of Net
Assets
Semiconductors & Semiconductor Equipment
8.7%
Banks
8.6%
Software
8.1%
Pharmaceuticals
5.3%
Interactive Media & Services
4.6%
Biotechnology
4.6%
Broadline Retail
3.8%
Technology Hardware, Storage & Peripherals
3.7%
Insurance
3.2%
Oil, Gas & Consumable Fuels
3.1%
Financial Services
2.8%
Machinery
2.7%
Aerospace & Defense
2.6%
Capital Markets
2.4%
Consumer Staples Distribution & Retail
2.2%
Health Care Providers & Services
2.0%
Entertainment
1.7%
Hotels, Restaurants & Leisure
1.5%
Chemicals
1.4%
Automobiles
1.4%
Multi-Utilities
1.3%
Affiliated Mutual Fund - Short-Term Investment
1.3%
Household Durables
1.2%
Health Care Equipment & Supplies
1.2%
Specialty Retail
1.1%
Metals & Mining
1.1%
IT Services
1.0%
Food Products
1.0%
Commercial Services & Supplies
1.0%
Building Products
1.0%
Energy Equipment & Services
0.9%
Ground Transportation
0.9%
Residential REITs
0.9%
Construction & Engineering
0.7%
Industry Classification
% of Net
Assets
Electric Utilities
0.6%
Electrical Equipment
0.6%
Professional Services
0.6%
Communications Equipment
0.6%
Electronic Equipment, Instruments & Components
0.6%
Marine Transportation
0.6%
Automobile Components
0.5%
Personal Care Products
0.5%
Media
0.5%
Beverages
0.5%
Specialized REITs
0.5%
Trading Companies & Distributors
0.5%
Office REITs
0.5%
Passenger Airlines
0.4%
Health Care REITs
0.4%
Retail REITs
0.4%
Mortgage Real Estate Investment Trusts (REITs)
0.3%
Household Products
0.3%
Health Care Technology
0.3%
Industrial REITs
0.3%
Textiles, Apparel & Luxury Goods
0.3%
Diversified Telecommunication Services
0.2%
Hotel & Resort REITs
0.2%
Diversified Consumer Services
0.2%
Gas Utilities
0.2%
Consumer Finance
0.1%
Real Estate Management & Development
0.1%
Water Utilities
0.1%
Life Sciences Tools & Services
0.1%
Leisure Products
0.1%
100.1%
Liabilities in excess of other assets
(0.1
)%
100.0%
WERE THERE ANY CHANGES TO THE FUND THIS YEAR?
The following is a summary of certain changes to the Fund since September 1, 2023:
■
The Fund's principal risk disclosure was revised to include Sector Exposure Risk as a principal risk of the Fund due to changes in the Fund's
portfolio which may result in greater exposure to certain economic sectors.

For more complete information, you should review the Fund's next prospectus, which we expect to be available by October 30, 2024 at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or by request at (800) 225-1852.
ADDITIONAL INFORMATION
You can find additional information at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or by scanning the QR code below,
including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by
contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.
To receive your fund documents online, go to
pgim.com/investments/resource/edelivery
and enroll.
PGIM Jennison Blend Fund
SHARE CLASS
C
NASDAQ
PRECX
CUSIP
74441T306
MF101EC
PGIM Jennison Blend Fund
Class Z:
PEQZX
ANNUAL SHAREHOLDER REPORT - August 31, 2024
This annual shareholder report contains important information about the Class Z shares of PGIM Jennison Blend Fund (the "Fund") for the period
of September 1, 2023 to August 31, 2024.
You can find additional information about the Fund at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
. You can also request
this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.
This report describes changes to the Fund that occurred during the reporting period.
WHAT WERE THE FUND COSTS FOR THE LAST YEAR?
(Based on a hypothetical $10,000 investment)
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
PGIM Jennison Blend Fund-Class Z
$73
0.64%
WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?
■
During the reporting period, equities posted solid results driven by better-than-expected earnings across a broad swath of the market, along
with enthusiasm regarding artificial intelligence, the end of US Federal Reserve (Fed) interest rate hikes and the Fed's shift to an easing stance,
continued progress on inflation moving toward the Fed's sub-2.0% target, and positive growth and resiliency in the US economy.
■
Stock selection broadly contributed to the Fund's overall positive performance relative to the Index, especially within the consumer staples,
information technology, consumer discretionary, and financial services sectors.
■
Conversely, security selection within the utilities sector, along with underweights in information technology and communication services and a
slight overweight in energy, detracted from performance relative to the Index.
MF101EZ
HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?
The Fund's past performance is not a good predictor of the Fund's future performance.
The returns do not reflect the deduction of
taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.
Visit
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.
The line graph reflects a hypothetical $10,000 investment in Class Z shares and assumes that all recurring fees (including management fees)
were deducted and dividend and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would
have been lower.
Cumulative Performance: August 31, 2014 to August 31, 2024
Initial Investment of $10,000
Average Annual Total Returns as of 8/31/2024
One Year (%)
Five Years (%)
Ten Years (%)
Class Z
27.19%
14.30%
10.49%
Russell 3000 Index
26.14%
15.19%
12.36%
Broad-Based Securities Market Index: S&P 500 Index
27.14%
15.92%
12.98%
WHAT ARE SOME KEY FUND STATISTICS AS OF
8
/31/2024?
Fund's net assets
$
1,094,803,758
Number of fund holdings
282
Total advisory fees paid for the year
$
4,855,624
Portfolio turnover rate for the year
47%
WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 8/31/2024?
Industry Classification
% of Net
Assets
Semiconductors & Semiconductor Equipment
8.7%
Banks
8.6%
Software
8.1%
Pharmaceuticals
5.3%
Interactive Media & Services
4.6%
Biotechnology
4.6%
Broadline Retail
3.8%
Technology Hardware, Storage & Peripherals
3.7%
Insurance
3.2%
Oil, Gas & Consumable Fuels
3.1%
Financial Services
2.8%
Machinery
2.7%
Aerospace & Defense
2.6%
Capital Markets
2.4%
Consumer Staples Distribution & Retail
2.2%
Health Care Providers & Services
2.0%
Entertainment
1.7%
Hotels, Restaurants & Leisure
1.5%
Chemicals
1.4%
Automobiles
1.4%
Multi-Utilities
1.3%
Affiliated Mutual Fund - Short-Term Investment
1.3%
Household Durables
1.2%
Health Care Equipment & Supplies
1.2%
Specialty Retail
1.1%
Metals & Mining
1.1%
IT Services
1.0%
Food Products
1.0%
Commercial Services & Supplies
1.0%
Building Products
1.0%
Energy Equipment & Services
0.9%
Ground Transportation
0.9%
Residential REITs
0.9%
Construction & Engineering
0.7%
Industry Classification
% of Net
Assets
Electric Utilities
0.6%
Electrical Equipment
0.6%
Professional Services
0.6%
Communications Equipment
0.6%
Electronic Equipment, Instruments & Components
0.6%
Marine Transportation
0.6%
Automobile Components
0.5%
Personal Care Products
0.5%
Media
0.5%
Beverages
0.5%
Specialized REITs
0.5%
Trading Companies & Distributors
0.5%
Office REITs
0.5%
Passenger Airlines
0.4%
Health Care REITs
0.4%
Retail REITs
0.4%
Mortgage Real Estate Investment Trusts (REITs)
0.3%
Household Products
0.3%
Health Care Technology
0.3%
Industrial REITs
0.3%
Textiles, Apparel & Luxury Goods
0.3%
Diversified Telecommunication Services
0.2%
Hotel & Resort REITs
0.2%
Diversified Consumer Services
0.2%
Gas Utilities
0.2%
Consumer Finance
0.1%
Real Estate Management & Development
0.1%
Water Utilities
0.1%
Life Sciences Tools & Services
0.1%
Leisure Products
0.1%
100.1%
Liabilities in excess of other assets
(0.1
)%
100.0%
WERE THERE ANY CHANGES TO THE FUND THIS YEAR?
The following is a summary of certain changes to the Fund since September 1, 2023:
■
The Fund's principal risk disclosure was revised to include Sector Exposure Risk as a principal risk of the Fund due to changes in the Fund's
portfolio which may result in greater exposure to certain economic sectors.

For more complete information, you should review the Fund's next prospectus, which we expect to be available by October 30, 2024 at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or by request at (800) 225-1852.
ADDITIONAL INFORMATION
You can find additional information at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or by scanning the QR code below,
including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by
contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.
To receive your fund documents online, go to
pgim.com/investments/resource/edelivery
and enroll.
PGIM Jennison Blend Fund
SHARE CLASS
Z
NASDAQ
PEQZX
CUSIP
74441T405
MF101EZ
PGIM Jennison Blend Fund
Class R6:
PBQQX
ANNUAL SHAREHOLDER REPORT - August 31, 2024
This annual shareholder report contains important information about the Class R6 shares of PGIM Jennison Blend Fund (the "Fund") for the
period of September 1, 2023 to August 31, 2024.
You can find additional information about the Fund at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
. You can also request
this information by contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.
This report describes changes to the Fund that occurred during the reporting period.
WHAT WERE THE FUND COSTS FOR THE LAST YEAR?
(Based on a hypothetical $10,000 investment)
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
PGIM Jennison Blend Fund-Class R6
$73
0.64%
WHAT AFFECTED THE FUND'S PERFORMANCE DURING THE REPORTING PERIOD?
■
During the reporting period, equities posted solid results driven by better-than-expected earnings across a broad swath of the market, along
with enthusiasm regarding artificial intelligence, the end of US Federal Reserve (Fed) interest rate hikes and the Fed's shift to an easing stance,
continued progress on inflation moving toward the Fed's sub-2.0% target, and positive growth and resiliency in the US economy.
■
Stock selection broadly contributed to the Fund's overall positive performance relative to the Index, especially within the consumer staples,
information technology, consumer discretionary, and financial services sectors.
■
Conversely, security selection within the utilities sector, along with underweights in information technology and communication services and a
slight overweight in energy, detracted from performance relative to the Index.
MF101ER6
HOW HAS THE FUND PERFORMED OVER THE PAST 10 YEARS?
The Fund's past performance is not a good predictor of the Fund's future performance.
The returns do not reflect the deduction of
taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.
Visit
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or call (800) 225-1852 or (973) 367-3529 from outside the US for more recent performance data.
The line graph reflects a hypothetical $10,000 investment in Class R6 shares and assumes that all recurring fees (including management fees)
were deducted and dividend and distributions were reinvested. Without waiver of fees and/or expense reimbursements, if any, the returns would
have been lower.
Cumulative Performance: October 26, 2017 to August 31, 2024
Initial Investment of $10,000
Average Annual Total Returns as of 8/31/2024
One Year (%)
Five Years (%)
Since Inception (%)
Class R6
27.19%
14.30%
12.10% (10/26/2017)
Russell 3000 Index
26.14%
15.19%
13.39%
Broad-Based Securities Market Index: S&P 500 Index
27.14%
15.92%
14.13%
Since
Inception
returns are provided for the share class since it has less than 10 fiscal years of returns. Since Inception returns for the Index are measured from the closest
month-end to the class's inception date.
WHAT ARE SOME KEY FUND STATISTICS AS OF 8/31/2024?
Fund's net assets
$
1,094,803,758
Number of fund holdings
282
Total advisory fees paid for the year
$
4,855,624
Portfolio turnover rate for the year
47%
WHAT ARE SOME CHARACTERISTICS OF THE FUND'S HOLDINGS AS OF 8/31/2024?
Industry Classification
% of Net
Assets
Semiconductors & Semiconductor Equipment
8.7%
Banks
8.6%
Software
8.1%
Pharmaceuticals
5.3%
Interactive Media & Services
4.6%
Biotechnology
4.6%
Broadline Retail
3.8%
Technology Hardware, Storage & Peripherals
3.7%
Insurance
3.2%
Oil, Gas & Consumable Fuels
3.1%
Financial Services
2.8%
Machinery
2.7%
Aerospace & Defense
2.6%
Capital Markets
2.4%
Consumer Staples Distribution & Retail
2.2%
Health Care Providers & Services
2.0%
Entertainment
1.7%
Hotels, Restaurants & Leisure
1.5%
Chemicals
1.4%
Automobiles
1.4%
Multi-Utilities
1.3%
Affiliated Mutual Fund - Short-Term Investment
1.3%
Household Durables
1.2%
Health Care Equipment & Supplies
1.2%
Specialty Retail
1.1%
Metals & Mining
1.1%
IT Services
1.0%
Food Products
1.0%
Commercial Services & Supplies
1.0%
Building Products
1.0%
Energy Equipment & Services
0.9%
Ground Transportation
0.9%
Residential REITs
0.9%
Construction & Engineering
0.7%
Industry Classification
% of Net
Assets
Electric Utilities
0.6%
Electrical Equipment
0.6%
Professional Services
0.6%
Communications Equipment
0.6%
Electronic Equipment, Instruments & Components
0.6%
Marine Transportation
0.6%
Automobile Components
0.5%
Personal Care Products
0.5%
Media
0.5%
Beverages
0.5%
Specialized REITs
0.5%
Trading Companies & Distributors
0.5%
Office REITs
0.5%
Passenger Airlines
0.4%
Health Care REITs
0.4%
Retail REITs
0.4%
Mortgage Real Estate Investment Trusts (REITs)
0.3%
Household Products
0.3%
Health Care Technology
0.3%
Industrial REITs
0.3%
Textiles, Apparel & Luxury Goods
0.3%
Diversified Telecommunication Services
0.2%
Hotel & Resort REITs
0.2%
Diversified Consumer Services
0.2%
Gas Utilities
0.2%
Consumer Finance
0.1%
Real Estate Management & Development
0.1%
Water Utilities
0.1%
Life Sciences Tools & Services
0.1%
Leisure Products
0.1%
100.1%
Liabilities in excess of other assets
(0.1
)%
100.0%
WERE THERE ANY CHANGES TO THE FUND THIS YEAR?
The following is a summary of certain changes to the Fund since September 1, 2023:
■
The Fund's principal risk disclosure was revised to include Sector Exposure Risk as a principal risk of the Fund due to changes in the Fund's
portfolio which may result in greater exposure to certain economic sectors.

For more complete information, you should review the Fund's next prospectus, which we expect to be available by October 30, 2024 at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or by request at (800) 225-1852.
ADDITIONAL INFORMATION
You can find additional information at
pgim.com/investments/mutual-funds/prospectuses-fact-sheets
or by scanning the QR code below,
including the Fund's prospectus, financial information, fund holdings, and proxy voting information. You can also request this information by
contacting us at (800) 225-1852 or (973) 367-3529 from outside the US.
To receive your fund documents online, go to
pgim.com/investments/resource/edelivery
and enroll.
PGIM Jennison Blend Fund
SHARE CLASS
R6
NASDAQ
PBQQX
CUSIP
74441T603
MF101ER6

(b)

Copy of each notice transmitted to stockholders in reliance on Rule 30e-3under the Act (17 CFR 270.30e-3)that contains disclosures specified by paragraph (c)(3) of that rule - Not applicable.

Item 2 - Code of Ethics - See Exhibit (a)

As of the end of the period covered by this report, the registrant has adopted a code of ethics (the "Section 406 Standards for Investment Companies - Ethical Standards for Principal Executive and Financial Officers") that applies to the registrant's Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer.

The registrant hereby undertakes to provide any person, without charge, upon request, a copy of the code of ethics. To request a copy of the code of ethics, contact the registrant 800-225-1852,and ask for a copy of the Section 406 Standards for Investment Companies - Ethical Standards for Principal Executive and Financial Officers.

Item 3 - Audit Committee Financial Expert -

The registrant's Board has determined that Ms. Grace C. Torres, member of the Board's Audit Committee is an "audit committee financial expert," and that she is "independent," for purposes of this item.

Item 4 - Principal Accountant Fees and Services -

(a)

Audit Fees

For the fiscal years ended August 31, 2024 and August 31, 2023, PricewaterhouseCoopers LLP ("PwC"), the Registrant's principal accountant, billed the Registrant $24,910 and $23,800, respectively, for professional services rendered for the audit of the Registrant's annual financial statements or services that are normally provided in connection with statutory and regulatory filings.

(b)

Audit-Related Fees

For the fiscal years ended August 31, 2024 and August 31, 2023: none.

(c)

Tax Fees

For the fiscal years ended August 31, 2024 and August 31, 2023: none.

(d)

All Other Fees

For the fiscal years ended August 31, 2024 and August 31, 2023: none.

(e) (1) Audit Committee Pre-ApprovalPolicies and Procedures

THE PGIM MUTUAL FUNDS

AUDIT COMMITTEE POLICY

on

Pre-Approvalof Services Provided by the Independent

Accountants

The Audit Committee of each PGIM Mutual Fund is charged with the responsibility to monitor the independence of the Fund's independent accountants. As part of this responsibility, the Audit Committee must pre-approvethe independent accounting firm's engagement to render audit and/or permissible non-auditservices, as required by law. In evaluating a proposed engagement of the independent accountants, the Audit Committee will assess the effect that the engagement might reasonably be expected to have on the accountant's independence. The Committee's evaluation will be based on:

•

a review of the nature of the professional services expected to be provided,

•

a review of the safeguards put into place by the accounting firm to safeguard independence, and

•

periodic meetings with the accounting firm.

Policy for Audit and Non-AuditServices Provided to the Funds

On an annual basis, the scope of audits for each Fund, audit fees and expenses, and audit-related and non-auditservices (and fees proposed in respect thereof) proposed to be performed by the Fund's independent accountants will be presented by the Treasurer and the independent accountants to the Audit Committee for review and, as appropriate, approval prior to the initiation of such services.

Such presentation shall be accompanied by confirmation by both the Treasurer and the independent accountants that the proposed non-auditservices will not adversely affect the independence of the independent accountants. Such proposed non-auditservices shall be described in sufficient detail to enable the Audit Committee to assess the appropriateness of such services and fees, and the compatibility of the provision of such services with the auditor's independence. The Committee shall receive periodic reports on the progress of the audit and other services which are approved by the Committee or by the Committee Chair pursuant to authority delegated in this Policy.

The categories of services enumerated under "Audit Services", "Audit-related Services", and "Tax Services" are intended to provide guidance to the Treasurer and the independent accountants as to those categories of services which the Committee believes are generally consistent with the independence of the independent accountants and which the Committee (or the Committee Chair) would expect upon the presentation of specific proposals to pre-approve.The enumerated categories are not intended as an exclusive list of audit, audit-related or tax services, which the Committee (or the Committee Chair) would consider for pre-approval.

Audit Services

The following categories of audit services are considered to be consistent with the role of the Fund's independent accountants:

•

Annual Fund financial statement audits

•

Seed audits (related to new product filings, as required)

•

SEC and regulatory filings and consents

Audit-related Services

The following categories of audit-related services are considered to be consistent with the role of the Fund's independent accountants:

•

Accounting consultations

•

Fund merger support services

•

Agreed Upon Procedure Reports

•

Attestation Reports

•

Other Internal Control Reports

Individual audit-related services that fall within one of these categories (except for fund merger support services) and are not presented to the Audit Committee as part of the annual pre-approvalprocess are subject to an authorized pre-approvalby the Audit Committee so long as the estimated fee for those services does not exceed $30,000. Any services provided under such pre-approvalwill be reported to the Audit Committee at its next regular meeting. Should the amount of such services exceed $30,000 any additional fees will be subject to pre-approvalby the Committee Chair (or any other Committee member on whom this responsibility has been delegated). Fees related to fund merger support services are subject to a separate authorized pre-approvalby the Audit Committee with fees determined on a per occurrence and merger complexity basis.

Tax Services

The following categories of tax services are considered to be consistent with the role of the Fund's independent accountants:

•

Tax compliance services related to the filing or amendment of the following:

•

Federal, state and local income tax compliance; and,

•

Sales and use tax compliance

•

Timely RIC qualification reviews

•

Tax distribution analysis and planning

•

Tax authority examination services

•

Tax appeals support services

•

Accounting methods studies

•

Fund merger support services

•

Tax consulting services and related projects

Individual tax services that fall within one of these categories and are not presented to the Audit Committee as part of the annual pre-approvalprocess are subject to an authorized pre-approvalby the Audit Committee so long as the estimated fee for those services does not exceed $30,000. Any services provided under such pre-approvalwill be reported to the Audit Committee at its next regular meeting. Should the amount of such services exceed $30,000 any additional fees will be subject to pre-approvalby the Committee Chair (or any other Committee member on whom this responsibility has been delegated).

Other Non-AuditServices

Certain non-auditservices that the independent accountants are legally permitted to render will be subject to pre-approvalby the Committee or by one or more Committee members to whom the Committee has delegated this authority and who will report to the full Committee any pre-approvaldecisions made pursuant to this Policy. Non-auditservices presented for pre-approvalpursuant to this paragraph will be accompanied by a confirmation from both the Treasurer and the independent accountants that the proposed services will not adversely affect the independence of the independent accountants.

Proscribed Services

The Fund's independent accountants will not render services in the following categories of non-auditservices:

•

Bookkeeping or other services related to the accounting records or financial statements of the Fund

•

Financial information systems design and implementation

•

Appraisal or valuation services, fairness opinions, or contribution-in-kindreports

•

Actuarial services

•

Internal audit outsourcing services

•

Management functions or human resources

•

Broker or dealer, investment adviser, or investment banking services

•

Legal services and expert services unrelated to the audit

•

Any other service that the Public Company Accounting Oversight Board determines, by regulation, is impermissible.

Pre-approvalof Non-AuditServices Provided to Other Entities Within the PGIM Fund Complex

Certain non-auditservices provided to PGIM Investments LLC or any of its affiliates that also provide ongoing services to the PGIM Mutual Funds will be subject to pre-approvalby the Audit Committee. The only non-auditservices provided to these entities that will require pre-approvalare those related directly to the operations and financial reporting of the Funds. Individual projects that are not presented to the Audit Committee as part of the annual pre-approvalprocess will be subject to pre-approvalby the Committee Chair (or any other Committee member on whom this responsibility has been delegated) so long as the estimated fee for those services does not exceed $30,000. Services presented for pre-approvalpursuant to this paragraph will be accompanied by a confirmation from both the Treasurer and the independent accountants that the proposed services will not adversely affect the independence of the independent accountants.

Although the Audit Committee will not pre-approveall services provided to PGIM Investments LLC and its affiliates, the Committee will receive an annual report from the Fund's independent accounting firm showing the aggregate fees for all services provided to PGIM Investments and its affiliates.

(e) (2) Percentage of services described in each of paragraphs (b)through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01of Regulation S-X-

Fiscal Year Ended August 31,

2024

Fiscal Year Ended August 31,

2023

4(b) Not applicable. Not applicable.
4(c) Not applicable. Not applicable.
4(d) Not applicable. Not applicable.

(f) Percentage of hours expended attributable to work performed by other than full time employees of principal accountant if greaterthan 50%.

The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees was 0%.

(g) Non-AuditFees

The aggregate non-auditfees billed by the Registrant's principal accountant for services rendered to the registrant's investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant for the fiscal years ended August 31, 2024 and August 31, 2023 was $0 and $0, respectively.

(h) Principal Accountant's Independence

Not applicable as the Registrant's principal accountant has not provided non-auditservices to the registrant's investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approvedpursuant to Rule 2-01(c)(7)(ii)of Regulation S-X.

(i) Not applicable.

(j) Not applicable.

Item 5  -

Audit Committee of Listed Registrants - Not applicable.

Item 6  -

Investments - The registrant's Schedule of Investments is included in the financial statements filed under Item 7 of this Form.

Items 7  -

11 (Refer to Report below)

PRUDENTIAL JENNISON BLEND FUND, INC.

PGIM Jennison Blend Fund

FINANCIAL STATEMENTS AND OTHER INFORMATION

AUGUST 31, 2024

Table of Contents

Financial Statements and Other Information

August 31, 2024

Form N-CSRItem 7 - Financial Statements and Financial Highlights for Open-EndManagement Investment Companies.

PGIM Jennison Blend Fund

1 

Notes to Financial Statements

24

Other Information - Form N-CSR Items 8-11

Schedule of Investments

as of August 31, 2024

Description Shares   Value  

LONG-TERM INVESTMENTS 98.8%

COMMON STOCKS

Aerospace & Defense 2.6%

Airbus SE (France)

20,743 $     3,186,426

Boeing Co. (The)*

46,614 8,098,716

General Electric Co.

59,492 10,388,493

RTX Corp.

58,199 7,178,265
28,851,900

Automobile Components 0.6%

Dorman Products, Inc.*

30,520 3,461,579

Modine Manufacturing Co.*

6,940 843,557

Visteon Corp.*

16,749 1,695,501
6,000,637

Automobiles 1.4%

General Motors Co.

137,481 6,843,804

Tesla, Inc.*

37,271 7,980,094
14,823,898

Banks 8.5%

Atlantic Union Bankshares Corp.

69,317 2,750,499

Bank of America Corp.

283,860 11,567,295

Bank of NT Butterfield & Son Ltd. (The) (Bermuda)

45,984 1,758,888

BankUnited, Inc.

59,036 2,268,753

Brookline Bancorp, Inc.

282,495 2,889,924

Eastern Bankshares, Inc.

157,430 2,671,587

Enterprise Financial Services Corp.

67,578 3,575,552

First Bancorp

78,377 3,329,455

First Interstate BancSystem, Inc. (Class A Stock)

87,283 2,710,137

Hilltop Holdings, Inc.

42,491 1,395,829

JPMorgan Chase & Co.

75,998 17,084,350

NU Holdings Ltd. (Brazil) (Class A Stock)*

373,855 5,596,609

Pinnacle Financial Partners, Inc.

40,852 4,067,634

PNC Financial Services Group, Inc. (The)

58,017 10,738,367

Truist Financial Corp.

230,743 10,258,834

Western Alliance Bancorp

45,638 3,727,712

Wintrust Financial Corp.

21,924 2,385,331

WSFS Financial Corp.

71,964 3,939,309
92,716,065

See Notes to Financial Statements.

PGIM Jennison Blend Fund 1

Schedule of Investments(continued)

as of August 31, 2024

Description Shares   Value  

COMMON STOCKS (Continued)

Beverages 0.5%

PepsiCo, Inc.

27,169 $ 4,696,977

Primo Water Corp.

32,539 719,112
5,416,089

Biotechnology 4.6%

AbbVie, Inc.

60,140 11,806,083

ADMA Biologics, Inc.*

28,781 498,199

Amgen, Inc.

15,134 5,052,183

Apellis Pharmaceuticals, Inc.*

47,257 1,838,297

Arcutis Biotherapeutics, Inc.*

285,978 3,111,441

Avidity Biosciences, Inc.*

14,015 616,660

Bridgebio Pharma, Inc.*

29,496 821,464

Cabaletta Bio, Inc.*

161,160 907,331

Celldex Therapeutics, Inc.*

35,346 1,460,850

Crinetics Pharmaceuticals, Inc.*

61,165 3,245,415

Editas Medicine, Inc.*

228,145 853,262

Insmed, Inc.*

12,525 957,787

Intellia Therapeutics, Inc.*

52,897 1,187,009

Iovance Biotherapeutics, Inc.*

79,817 930,666

Krystal Biotech, Inc.*

12,679 2,473,927

Rocket Pharmaceuticals, Inc.*

39,891 751,945

Tourmaline Bio, Inc.

34,145 575,343

Twist Bioscience Corp.*

39,012 1,686,879

Vaxcyte, Inc.*

35,718 2,884,586

Veracyte, Inc.*

53,771 1,696,475

Vertex Pharmaceuticals, Inc.*

14,253 7,067,920
   50,423,722

Broadline Retail 3.8%

Amazon.com, Inc.*

163,116 29,116,206

MercadoLibre, Inc. (Brazil)*

6,245 12,875,067
41,991,273

Building Products 1.0%

Hayward Holdings, Inc.*

138,925 2,061,647

Johnson Controls International PLC

80,498 5,864,279

UFP Industries, Inc.

9,583 1,165,964

Zurn Elkay Water Solutions Corp.

45,548 1,477,122
10,569,012

See Notes to Financial Statements.

2

Description Shares   Value  

COMMON STOCKS (Continued)

Capital Markets 2.4%

Blackstone, Inc.

43,433 $     6,183,122

Bridge Investment Group Holdings, Inc. (Class A Stock)

140,566 1,154,047

Brightsphere Investment Group, Inc.

94,774 2,311,538

Goldman Sachs Group, Inc. (The)

23,217 11,846,474

Hamilton Lane, Inc. (Class A Stock)

15,202 2,323,474

Marex Group PLC (United Kingdom)

39,695 979,275

Moody's Corp.

3,796 1,851,461
26,649,391

Chemicals 1.4%

Avient Corp.

79,637 3,912,566

Cabot Corp.

11,214 1,178,703

Element Solutions, Inc.

23,840 637,482

Linde PLC

19,777 9,458,350
15,187,101

Commercial Services & Supplies 1.0%

ABM Industries, Inc.

22,151 1,265,930

ACV Auctions, Inc. (Class A Stock)*

182,870 3,421,498

Casella Waste Systems, Inc. (Class A Stock)*

26,008 2,805,223

GEO Group, Inc. (The)*

47,268 655,607

VSE Corp.

26,308 2,447,433
10,595,691

Communications Equipment 0.6%

Cisco Systems, Inc.

125,301 6,332,713

Construction & Engineering 0.7%

Construction Partners, Inc. (Class A Stock)*

58,994 3,892,424

Great Lakes Dredge & Dock Corp.*

311,487 3,099,296

Sterling Infrastructure, Inc.*

6,559 783,997
7,775,717

Consumer Finance 0.1%

Bread Financial Holdings, Inc.

11,665 678,553

Enova International, Inc.*

6,941 595,052
1,273,605

Consumer Staples Distribution & Retail 2.2%

Chefs' Warehouse, Inc. (The)*

72,547 3,107,188

See Notes to Financial Statements.

PGIM Jennison Blend Fund 3

Schedule of Investments(continued)

as of August 31, 2024

Description Shares   Value  

COMMON STOCKS (Continued)

Consumer Staples Distribution & Retail (cont'd.)

Costco Wholesale Corp.

10,194 $ 9,096,922

Walmart, Inc.

155,395 12,001,156
24,205,266

Diversified Consumer Services 0.2%

Frontdoor, Inc.*

18,908 909,097

Perdoceo Education Corp.

45,144 1,013,031
1,922,128

Diversified Telecommunication Services 0.2%

Cogent Communications Holdings, Inc.

34,437 2,409,901

Electric Utilities 0.7%

PG&E Corp.

359,347 7,079,136

Electrical Equipment 0.6%

Bloom Energy Corp. (Class A Stock)*

53,988 642,997

Eaton Corp. PLC

14,584 4,476,267

NEXTracker, Inc. (Class A Stock)*

22,057 897,058

Sunrun, Inc.*

40,950 840,294
    6,856,616

Electronic Equipment, Instruments & Components 0.6%

Benchmark Electronics, Inc.

21,558 916,431

Insight Enterprises, Inc.*

3,462 751,496

Itron, Inc.*

7,605 777,383

Littelfuse, Inc.

7,304 1,988,149

Sanmina Corp.*

25,543 1,772,173
6,205,632

Energy Equipment & Services 0.9%

Archrock, Inc.

35,090 709,871

Cactus, Inc. (Class A Stock)

46,331 2,757,621

ChampionX Corp.

19,177 596,980

Expro Group Holdings NV*

103,705 2,059,581

ProPetro Holding Corp.*

136,950 1,087,383

RPC, Inc.

115,796 743,410

Seadrill Ltd. (Norway)*

17,231 743,001

See Notes to Financial Statements.

4

Description Shares   Value  

COMMON STOCKS (Continued)

Energy Equipment & Services (cont'd.)

Valaris Ltd.*

13,162 $ 803,672

Weatherford International PLC

7,414 778,025
10,279,544

Entertainment 1.7%

Netflix, Inc.*

17,438 12,230,141

Walt Disney Co. (The)

73,118 6,608,405
18,838,546

Financial Services 2.8%

AvidXchange Holdings, Inc.*

105,114 848,270

Burford Capital Ltd.

107,764 1,455,892

Essent Group Ltd.

47,286 3,040,017

Flywire Corp.*

85,335 1,545,417

Mastercard, Inc. (Class A Stock)

17,073 8,252,064

NMI Holdings, Inc.*

31,305 1,285,696

Radian Group, Inc.

30,727 1,110,781

Shift4 Payments, Inc. (Class A Stock)*

56,409 4,687,588

Visa, Inc. (Class A Stock)

29,941 8,274,794
30,500,519

Food Products 1.0%

Adecoagro SA (Brazil)

149,340 1,644,233

Freshpet, Inc.*

30,962 4,210,832

Hershey Co. (The)

16,759 3,235,493

Utz Brands, Inc.

125,481 2,119,374
11,209,932

Gas Utilities 0.2%

Chesapeake Utilities Corp.

15,303 1,812,181

Ground Transportation 0.9%

Uber Technologies, Inc.*

70,030 5,121,294

Union Pacific Corp.

19,941 5,106,691
   10,227,985

Health Care Equipment & Supplies 1.2%

Glaukos Corp.*

5,586 747,910

Integer Holdings Corp.*

4,753 618,223

Intuitive Surgical, Inc.*

13,889 6,842,138

See Notes to Financial Statements.

PGIM Jennison Blend Fund 5

Schedule of Investments(continued)

as of August 31, 2024

Description Shares   Value  

COMMON STOCKS (Continued)

Health Care Equipment & Supplies (cont'd.)

Lantheus Holdings, Inc.*

7,251 $ 772,014

Merit Medical Systems, Inc.*

8,152 788,135

Tandem Diabetes Care, Inc.*

73,827 3,211,474
12,979,894

Health Care Providers & Services 2.0%

Acadia Healthcare Co., Inc.*

26,181 2,145,009

agilon health, Inc.*

125,799 513,260

Cigna Group (The)

26,713 9,665,031

Guardant Health, Inc.*

63,465 1,623,435

LifeStance Health Group, Inc.*

253,588 1,600,140

NeoGenomics, Inc.*

128,622 2,124,836

Option Care Health, Inc.*

50,358 1,612,463

Progyny, Inc.*

60,762 1,427,299

RadNet, Inc.*

12,418 823,189

Select Medical Holdings Corp.

16,718 603,018
22,137,680

Health Care REITs 0.4%

Alexandria Real Estate Equities, Inc.

37,976 4,540,790

Health Care Technology 0.3%

Evolent Health, Inc. (Class A Stock)*

42,166 1,348,468

Teladoc Health, Inc.*

146,304 1,049,000

Waystar Holding Corp.*

39,623 1,078,538
3,476,006

Hotel & Resort REITs 0.2%

Summit Hotel Properties, Inc.

225,547 1,531,464

Sunstone Hotel Investors, Inc.

70,440 734,689
    2,266,153

Hotels, Restaurants & Leisure 1.5%

Airbnb, Inc. (Class A Stock)*

28,978 3,399,409

Bloomin' Brands, Inc.

62,483 1,093,452

Brinker International, Inc.*

9,024 645,396

Dave & Buster's Entertainment, Inc.*

18,188 570,012

Golden Entertainment, Inc.

63,752 2,064,927

International Game Technology PLC

22,961 514,097

McDonald's Corp.

15,895 4,588,251

See Notes to Financial Statements.

6

Description Shares   Value  

COMMON STOCKS (Continued)

Hotels, Restaurants & Leisure (cont'd.)

Penn Entertainment, Inc.*

60,693 $ 1,130,104

Shake Shack, Inc. (Class A Stock)*

24,573 2,442,802
16,448,450

Household Durables 1.2%

Century Communities, Inc.

53,688 5,372,558

Ethan Allen Interiors, Inc.

34,147 1,074,948

Toll Brothers, Inc.

33,884 4,881,668

Tri Pointe Homes, Inc.*

51,125 2,271,995
13,601,169

Household Products 0.3%

Procter & Gamble Co. (The)

21,506 3,689,139

Industrial REITs 0.3%

Plymouth Industrial REIT, Inc.

139,950 3,350,403

Insurance 3.3%

Axis Capital Holdings Ltd.

42,195 3,370,537

Chubb Ltd.

34,469 9,795,400

CNO Financial Group, Inc.

50,216 1,753,543

Marsh & McLennan Cos., Inc.

33,626 7,650,251

MetLife, Inc.

97,356 7,543,143

Progressive Corp. (The)

11,389 2,872,306

Skyward Specialty Insurance Group, Inc.*

62,252 2,544,239
35,529,419

Interactive Media & Services 4.6%

Alphabet, Inc. (Class A Stock)

68,985 11,270,769

Alphabet, Inc. (Class C Stock)

53,014 8,753,142

Cars.com, Inc.*

42,322 755,024

Meta Platforms, Inc. (Class A Stock)

56,039 29,213,691

Yelp, Inc.*

20,256 707,542
   50,700,168

IT Services 1.0%

ASGN, Inc.*

31,578 3,036,541

Grid Dynamics Holdings, Inc.*

250,131 3,481,824

See Notes to Financial Statements.

PGIM Jennison Blend Fund 7

Schedule of Investments(continued)

as of August 31, 2024

Description Shares   Value  

COMMON STOCKS (Continued)

IT Services (cont'd.)

MongoDB, Inc.*

11,027 $ 3,206,541

Snowflake, Inc. (Class A Stock)*

13,661 1,560,496
11,285,402

Leisure Products 0.1%

Brunswick Corp.

8,650 683,782

Life Sciences Tools & Services 0.1%

Adaptive Biotechnologies Corp.*

226,730 1,065,631

Machinery 2.7%

Enerpac Tool Group Corp.

95,810 3,951,204

Enpro, Inc.

11,324 1,821,239

Gates Industrial Corp. PLC*

129,680 2,354,989

Mueller Industries, Inc.

23,042 1,675,384

Mueller Water Products, Inc. (Class A Stock)

42,130 904,531

Otis Worldwide Corp.

56,839 5,382,085

Parker-Hannifin Corp.

12,537 7,524,707

REV Group, Inc.

33,567 1,068,773

Trinity Industries, Inc.

155,889 5,145,896
29,828,808

Marine Transportation 0.6%

Golden Ocean Group Ltd. (Norway)

51,872 638,026

Kirby Corp.*

36,191 4,340,025

Matson, Inc.

8,498 1,175,273
6,153,324

Media 0.5%

Trade Desk, Inc. (The) (Class A Stock)*

55,532     5,804,760

Metals & Mining 1.1%

Century Aluminum Co.*

56,009 804,289

Coeur Mining, Inc.*

120,259 738,390

Commercial Metals Co.

17,717 949,454

Constellium SE*

221,184 3,709,256

Eldorado Gold Corp. (Turkey)*

207,356 3,576,891

ERO Copper Corp. (Brazil)*

50,111 1,029,781

SunCoke Energy, Inc.

105,962 949,420
11,757,481

See Notes to Financial Statements.

8

Description Shares   Value  

COMMON STOCKS (Continued)

Mortgage Real Estate Investment Trusts (REITs) 0.3%

Ladder Capital Corp.

298,712 $ 3,692,080

Multi-Utilities 1.3%

Black Hills Corp.

35,763 2,114,308

NiSource, Inc.

353,045 11,671,668
13,785,976

Office REITs 0.5%

Cousins Properties, Inc.

57,766 1,646,909

Equity Commonwealth*

31,724 643,045

Hudson Pacific Properties, Inc.

171,060 880,959

Piedmont Office Realty Trust, Inc. (Class A Stock)

102,930 1,004,597

SL Green Realty Corp.

11,848 789,551
    4,965,061

Oil, Gas & Consumable Fuels 3.1%

ConocoPhillips

106,983 12,173,596

Exxon Mobil Corp.

124,485 14,681,761

Kinetik Holdings, Inc.

27,924 1,235,358

Kosmos Energy Ltd. (Ghana)*

527,045 2,566,709

Magnolia Oil & Gas Corp. (Class A Stock)

23,419 599,761

Murphy Oil Corp.

51,715 1,927,935

SM Energy Co.

23,877 1,089,507
34,274,627

Passenger Airlines 0.4%

Delta Air Lines, Inc.

112,839 4,794,529

Personal Care Products 0.5%

elf Beauty, Inc.*

5,317 796,433

L'Oreal SA (France)

3,155 1,384,272

Unilever PLC (United Kingdom), ADR

56,697 3,673,399
5,854,104

Pharmaceuticals 5.3%

AstraZeneca PLC (United Kingdom), ADR

148,535 13,014,637

Bristol-Myers Squibb Co.

106,493 5,319,325

Eli Lilly & Co.

25,993 24,953,800

Innoviva, Inc.*

64,689 1,253,673

Novo Nordisk A/S (Denmark), ADR

57,992 8,070,167

Phathom Pharmaceuticals, Inc.*

39,586 653,961

See Notes to Financial Statements.

PGIM Jennison Blend Fund 9

Schedule of Investments(continued)

as of August 31, 2024

Description Shares   Value  

COMMON STOCKS (Continued)

Pharmaceuticals (cont'd.)

Prestige Consumer Healthcare, Inc.*

39,743 $ 2,966,417

Tarsus Pharmaceuticals, Inc.*

60,820 1,648,830
57,880,810

Professional Services 0.6%

Huron Consulting Group, Inc.*

21,867 2,414,992

Korn Ferry

44,702 3,265,481

Verra Mobility Corp.*

27,138 749,280
6,429,753

Real Estate Management & Development 0.1%

Cushman & Wakefield PLC*

43,843 569,959

DigitalBridge Group, Inc.

52,414 654,651
1,224,610

Residential REITs 0.9%

Camden Property Trust

36,204 4,532,741

Independence Realty Trust, Inc.

134,833 2,801,830

UMH Properties, Inc.

104,984 2,042,988
9,377,559

Retail REITs 0.4%

Urban Edge Properties

199,086     4,210,669

Semiconductors & Semiconductor Equipment 8.6%

Advanced Micro Devices, Inc.*

74,428 11,057,024

ASML Holding NV (Netherlands)

1,435 1,297,053

Broadcom, Inc.

157,719 25,679,808

Credo Technology Group Holding Ltd.*

81,853 2,857,488

FormFactor, Inc.*

15,081 735,500

Impinj, Inc.*

14,190 2,385,339

Lam Research Corp.

4,622 3,794,708

MACOM Technology Solutions Holdings, Inc.*

26,717 2,918,298

MaxLinear, Inc.*

64,155 973,873

NVIDIA Corp.

286,264 34,171,334

Photronics, Inc.*

45,048 1,164,941

SiTime Corp.*

17,089 2,472,095

Tower Semiconductor Ltd. (Israel)*

114,703 5,068,726
94,576,187

See Notes to Financial Statements.

10

Description Shares   Value  

COMMON STOCKS (Continued)

Software 8.0%

ACI Worldwide, Inc.*

26,979 $ 1,358,663

Adobe, Inc.*

9,220 5,296,060

Alarm.com Holdings, Inc.*

11,734 698,642

Cadence Design Systems, Inc.*

18,766 5,046,740

Cipher Mining, Inc.*

93,570 328,431

Cleanspark, Inc.*

49,899 533,420

Crowdstrike Holdings, Inc. (Class A Stock)*

16,389 4,544,342

Intapp, Inc.*

94,826 4,380,961

Marathon Digital Holdings, Inc.*

46,230 772,041

Microsoft Corp.

86,355 36,022,125

Oracle Corp.

40,841 5,770,425

Palo Alto Networks, Inc.*

11,726 4,253,255

Q2 Holdings, Inc.*

80,004 5,937,097

Riskified Ltd. (Class A Stock)*

326,134 1,689,374

Salesforce, Inc.

18,127 4,584,318

Sprout Social, Inc. (Class A Stock)*

69,719 2,168,261

Varonis Systems, Inc.*

53,495 3,027,817

Vertex, Inc. (Class A Stock)*

29,539 1,142,864
   87,554,836

Specialized REITs 0.5%

Four Corners Property Trust, Inc.

36,988 1,048,610

National Storage Affiliates Trust

75,700 3,538,218

Outfront Media, Inc.

35,569 606,451
5,193,279

Specialty Retail 1.1%

Boot Barn Holdings, Inc.*

12,596 1,690,006

Buckle, Inc. (The)

25,513 1,068,995

Citi Trends, Inc.*

15,974 228,428

Foot Locker, Inc.

46,715 1,454,705

Home Depot, Inc. (The)

2,600 958,100

Lowe's Cos., Inc.

19,828 4,927,258

Warby Parker, Inc. (Class A Stock)*

121,809 1,817,390
12,144,882

Technology Hardware, Storage & Peripherals 3.7%

Apple, Inc.

155,578 35,627,362

Dell Technologies, Inc. (Class C Stock)

46,279 5,347,076
40,974,438

See Notes to Financial Statements.

PGIM Jennison Blend Fund 11

Schedule of Investments(continued)

as of August 31, 2024

Description Shares   Value  

COMMON STOCKS (Continued)

Textiles, Apparel & Luxury Goods 0.3%

Kontoor Brands, Inc.

35,610 $ 2,665,408

Wolverine World Wide, Inc.

40,763 558,861
3,224,269

Trading Companies & Distributors 0.5%

GMS, Inc.*

9,774 848,285

Herc Holdings, Inc.

17,757 2,599,092

Rush Enterprises, Inc. (Class A Stock)

29,647 1,562,397
5,009,774

Water Utilities 0.1%

SJW Group

19,891 1,173,370

TOTAL LONG-TERM INVESTMENTS

(cost $627,158,419)

 1,081,793,472

SHORT-TERM INVESTMENT 1.3%

AFFILIATED MUTUAL FUND

PGIM Core Government Money Market Fund (7-dayeffective yield 5.562%)
(cost $13,690,077)(wb)

13,690,077 13,690,077

TOTAL INVESTMENTS 100.1%
(cost $640,848,496)

1,095,483,549

Liabilities in excess of other assets (0.1)%

(679,791 )

NET ASSETS 100.0%

$ 1,094,803,758

Below is a list of the abbreviation(s) used in the annual report:

ADR-American Depositary Receipt

REITs-Real Estate Investment Trust

SOFR-Secured Overnight Financing Rate

*

Non-incomeproducing security.

(wb)

Represents an investment in a Fund affiliated with the Manager.

Fair Value Measurements:

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three broad levels listed below.

Level 1-unadjusted quoted prices generally in active markets for identical securities.

Level 2-quoted prices for similar securities, interest rates and yield curves, prepayment speeds, foreign currency exchange rates and other observable inputs.

See Notes to Financial Statements.

12

Level 3-unobservable inputs for securities valued in accordance with Board approved fair valuation procedures.

The following is a summary of the inputs used as of August 31, 2024 in valuing such portfolio securities:

Level 1 Level 2

Level 3

Investments in Securities

Assets

Long-Term Investments

Common Stocks

Aerospace & Defense

$  25,665,474 $3,186,426 $- 

Automobile Components

6,000,637 - -

Automobiles

14,823,898 - -

Banks

92,716,065 - -

Beverages

5,416,089 - -

Biotechnology

50,423,722 - -

Broadline Retail

41,991,273 - -

Building Products

10,569,012 - -

Capital Markets

26,649,391 - -

Chemicals

15,187,101 - -

Commercial Services & Supplies

10,595,691 - -

Communications Equipment

6,332,713 - -

Construction & Engineering

7,775,717 - -

Consumer Finance

1,273,605 - -

Consumer Staples Distribution & Retail

24,205,266 - -

Diversified Consumer Services

1,922,128 - -

Diversified Telecommunication Services

2,409,901 - -

Electric Utilities

7,079,136 - -

Electrical Equipment

6,856,616 - -

Electronic Equipment, Instruments & Components

6,205,632 - -

Energy Equipment & Services

10,279,544 - -

Entertainment

18,838,546 - -

Financial Services

30,500,519 - -

Food Products

11,209,932 - -

Gas Utilities

1,812,181 - -

Ground Transportation

10,227,985 - -

Health Care Equipment & Supplies

12,979,894 - -

Health Care Providers & Services

22,137,680 - -

Health Care REITs

4,540,790 - -

Health Care Technology

3,476,006 - -

Hotel & Resort REITs

2,266,153 - -

Hotels, Restaurants & Leisure

16,448,450 - -

Household Durables

13,601,169 - -

Household Products

3,689,139 - -

Industrial REITs

3,350,403 - -

Insurance

35,529,419 - -

Interactive Media & Services

50,700,168 - -

IT Services

11,285,402 - -

Leisure Products

683,782 - -

Life Sciences Tools & Services

1,065,631 - -

Machinery

29,828,808 - -

Marine Transportation

6,153,324 - -

See Notes to Financial Statements.

PGIM Jennison Blend Fund 13

Schedule of Investments(continued)

as of August 31, 2024

Level 1 Level 2

Level 3

Investments in Securities (continued)

Assets (continued)

Long-Term Investments (continued)

Common Stocks (continued)

Media

$   5,804,760 $        - $-

Metals & Mining

11,757,481 - -

Mortgage Real Estate Investment Trusts (REITs)

3,692,080 - -

Multi-Utilities

13,785,976 - -

Office REITs

4,965,061 - -

Oil, Gas & Consumable Fuels

34,274,627 - -

Passenger Airlines

4,794,529 - -

Personal Care Products

4,469,832 1,384,272 -

Pharmaceuticals

57,880,810 - -

Professional Services

6,429,753 - -

Real Estate Management & Development

1,224,610 - -

Residential REITs

9,377,559 - -

Retail REITs

4,210,669 - -

Semiconductors & Semiconductor Equipment

94,576,187 - -

Software

87,554,836 - -

Specialized REITs

5,193,279 - -

Specialty Retail

12,144,882 - -

Technology Hardware, Storage & Peripherals

40,974,438 - -

Textiles, Apparel & Luxury Goods

3,224,269 - -

Trading Companies & Distributors

5,009,774 - -

Water Utilities

1,173,370 - -

Short-Term Investment

Affiliated Mutual Fund

13,690,077 - -

Total

$1,090,912,851 $4,570,698 $-

See Notes to Financial Statements.

14

Industry Classification:

The industry classification of investments and liabilities in excess of other assets shown as a percentage of net assets as of August 31, 2024 were as follows:

Semiconductors & Semiconductor Equipment

8.6 %

Banks

8.5

Software

8.0

Pharmaceuticals

5.3

Interactive Media & Services

4.6

Biotechnology

4.6

Broadline Retail

3.8

Technology Hardware, Storage & Peripherals

3.7

Insurance

3.3

Oil, Gas & Consumable Fuels

3.1

Financial Services

2.8

Machinery

2.7

Aerospace & Defense

2.6

Capital Markets

2.4

Consumer Staples Distribution & Retail

2.2

Health Care Providers & Services

2.0

Entertainment

1.7

Hotels, Restaurants & Leisure

1.5

Chemicals

1.4

Automobiles

1.4

Multi-Utilities

1.3

Affiliated Mutual Fund

1.3

Household Durables

1.2

Health Care Equipment & Supplies

1.2

Specialty Retail

1.1

Metals & Mining

1.1

IT Services

1.0

Food Products

1.0

Commercial Services & Supplies

1.0

Building Products

1.0

Energy Equipment & Services

0.9

Ground Transportation

0.9

Residential REITs

0.9

Construction & Engineering

0.7

Electric Utilities

0.7

Electrical Equipment

0.6 %

Professional Services

0.6

Communications Equipment

0.6

Electronic Equipment, Instruments & Components

0.6

Marine Transportation

0.6

Automobile Components

0.6

Personal Care Products

0.5

Media

0.5

Beverages

0.5

Specialized REITs

0.5

Trading Companies & Distributors

0.5

Office REITs

0.5

Passenger Airlines

0.4

Health Care REITs

0.4

Retail REITs

0.4

Mortgage Real Estate Investment Trusts (REITs)

0.3

Household Products

0.3

Health Care Technology

0.3

Industrial REITs

0.3

Textiles, Apparel & Luxury Goods

0.3

Diversified Telecommunication Services

0.2

Hotel & Resort REITs

0.2

Diversified Consumer Services

0.2

Gas Utilities

0.2

Consumer Finance

0.1

Real Estate Management & Development

0.1

Water Utilities

0.1

Life Sciences Tools & Services

0.1

Leisure Products

0.1
100.1

Liabilities in excess of other assets

(0.1 )
100.0 %

See Notes to Financial Statements.

PGIM Jennison Blend Fund 15

Statement of Assets and Liabilities

as of August 31, 2024

Assets

Investments at value:

Unaffiliated investments (cost $627,158,419)

$ 1,081,793,472

Affiliated investments (cost $13,690,077)

13,690,077

Dividends receivable

1,150,988

Receivable for investments sold

980,265

Receivable for Fund shares sold

635,324

Tax reclaim receivable

76,196

Prepaid expenses and other assets

917

Total Assets

1,098,327,239

Liabilities

Payable for investments purchased

1,415,691

Payable for Fund shares purchased

1,149,784

Management fee payable

433,427

Distribution fee payable

262,118

Accrued expenses and other liabilities

163,382

Affiliated transfer agent fee payable

95,733

Directors' fees payable

3,346

Total Liabilities

3,523,481

Net Assets

$ 1,094,803,758

Net assets were comprised of:

Common stock, at par

$ 417,512

Paid-incapital in excess of par

537,073,203

Total distributable earnings (loss)

557,313,043

Net assets, August 31, 2024

$ 1,094,803,758

See Notes to Financial Statements.

16

Class A

Net asset value and redemption price per share,

($1,038,178,722 ÷ 39,515,615 shares of common stock issued and outstanding)

$ 26.27

Maximum sales charge (5.50% of offering price)

1.53

Maximum offering price to public

$ 27.80

Class C

Net asset value, offering price and redemption price per share,

($9,102,121 ÷ 439,962 shares of common stock issued and outstanding)

$ 20.69

Class Z

Net asset value, offering price and redemption price per share,

($46,799,665 ÷ 1,768,267 shares of common stock issued and outstanding)

$ 26.47

Class R6

Net asset value, offering price and redemption price per share,

($723,250 ÷ 27,323 shares of common stock issued and outstanding)

$ 26.47

See Notes to Financial Statements.

PGIM Jennison Blend Fund 17

Statement of Operations

Year Ended August 31, 2024

Net Investment Income (Loss)

Income

Unaffiliated dividend income (net of $54,125 foreign withholding tax)

$ 12,545,190

Affiliated dividend income

1,091,530

Income from securities lending, net (including affiliated income of $74,220)

116,000

Total income

13,752,720

Expenses

Management fee

4,867,199

Distribution fee(a)

2,919,405

Transfer agent's fees and expenses (including affiliated expense of $586,935)(a)

1,084,912

Custodian and accounting fees

97,947

Shareholders' reports

64,354

Registration fees(a)

59,341

Professional fees

46,723

Audit fee

24,910

Directors' fees

23,463

Miscellaneous

30,612

Total expenses

9,218,866

Less: Fee waiver and/or expense reimbursement(a)

(11,575 )

Net expenses

9,207,291

Net investment income (loss)

4,545,429

Realized And Unrealized Gain (Loss) On Investment And Foreign Currency Transactions

Net realized gain (loss) on:

Investment transactions (including affiliated of $30,329)

103,896,351

Foreign currency transactions

(7,053 )
103,889,298

Net change in unrealized appreciation (depreciation) on:

Investments (including affiliated of $(34,279))

132,005,429

Foreign currencies

543
132,005,972

Net gain (loss) on investment and foreign currency transactions

235,895,270

Net Increase (Decrease) In Net Assets Resulting From Operations

$ 240,440,699

(a)  Class specific expenses and waivers were as follows:

Class A Class C Class Z Class R6

Distribution fee

2,849,646  69,759  -  -  

Transfer agent's fees and expenses

1,032,382  11,857  40,382  291  

Registration fees

21,299  13,964  12,164  11,914  

Fee waiver and/or expense reimbursement

-  -  -  (11,575) 

See Notes to Financial Statements.

18

Statements of Changes in Net Assets

Year Ended

August 31,

2024 2023

Increase (Decrease) in Net Assets

Operations

Net investment income (loss)

$ 4,545,429 $ 4,592,958

Net realized gain (loss) on investment and foreign currency transactions

103,889,298 22,659,546

Net change in unrealized appreciation (depreciation) on investments and foreign currencies

132,005,972 92,766,324

Net increase (decrease) in net assets resulting from operations

240,440,699 120,018,828

Dividends and Distributions

Distributions from distributable earnings

Class A

(27,902,209 ) (15,493,592 )

Class C

(196,286 ) (106,867 )

Class Z

(1,298,186 ) (756,643 )

Class R6

(16,693 ) (13,340 )
(29,413,374 ) (16,370,442 )

Fund share transactions (Net of share conversions)

Net proceeds from shares sold

16,617,483 11,187,741

Net asset value of shares issued in reinvestment of dividends and distributions

28,974,699 16,115,720

Cost of shares purchased

(109,199,714 ) (98,148,393 )

Net increase (decrease) in net assets from Fund share transactions

(63,607,532 ) (70,844,932 )

Total increase (decrease)

147,419,793 32,803,454

Net Assets:

Beginning of year

947,383,965 914,580,511

End of year

$ 1,094,803,758 $ 947,383,965

See Notes to Financial Statements.

PGIM Jennison Blend Fund 19

Financial Highlights

Class A Shares
Year Ended August 31,
2024 2023 2022 2021 2020

Per Share Operating Performance(a):

Net Asset Value, Beginning of Year

$21.38 $19.07 $28.66 $22.84 $19.81

Income (loss) from investment operations:

Net investment income (loss)

0.10 0.10 0.06 (- )(b)(c) 0.07
Net realized and unrealized gain (loss) on investment and foreign currency transactions 5.47 2.56 (4.98 ) 7.70 4.36

Total from investment operations

5.57 2.66 (4.92 ) 7.70 4.43

Less Dividends and Distributions:

Dividends from net investment income

(0.11 ) (0.06 ) - (0.08 ) (0.10 )

Distributions from net realized gains

(0.57 ) (0.29 ) (4.67 ) (1.80 ) (1.30 )

Total dividends and distributions

(0.68 ) (0.35 ) (4.67 ) (1.88 ) (1.40 )

Net asset value, end of year

$26.27 $21.38 $19.07 $28.66 $22.84

Total Return(d):

26.79 % 14.23 % (20.65 )% 35.59 % 23.38 %
Ratios/Supplemental Data:

Net assets, end of year(in millions)

$1,038 $903 $872 $1,205 $966

Average net assets (in millions)

$950 $855 $1,049 $1,082 $860

Ratios to average net assets(e):

Expenses after waivers and/or expense reimbursement

0.93 % 0.97 % 0.94 % 0.92 % 0.96 %

Expenses before waivers and/or expense reimbursement

0.93 % 0.97 % 0.94 % 0.92 % 0.96 %

Net investment income (loss)

0.45 % 0.51 % 0.25 % (- )%(c) 0.37 %

Portfolio turnover rate(f)

47 % 46 % 42 % 70 % 66 %
(a)

Calculated based on average shares outstanding during the year.

(b)

The per share amount of net investment income (loss) does not directly correlate to the amounts reported in the Statement of Operations due to class specific expenses.

(c)

Amount rounds to zero.

(d)

Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

(e)

Does not include expenses of the underlying funds in which the Fund invests.

(f)

The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kindtransactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

20

Class C Shares

Year Ended August 31,

2024 2023 2022 2021 2020

Per Share Operating Performance(a):

Net Asset Value, Beginning of Year

$17.03 $15.36 $24.19 $19.67 $17.32

Income (loss) from investment operations:

Net investment income (loss)

(0.10 )(b) (0.08 )(b) (0.15 )(b) (0.22 )(b) (0.11 )
Net realized and unrealized gain (loss) on investment and foreign currency transactions 4.33 2.04 (4.01 ) 6.54 3.76

Total from investment operations

4.23 1.96 (4.16 ) 6.32 3.65

Less Dividends and Distributions:

Distributions from net realized gains

(0.57 ) (0.29 ) (4.67 ) (1.80 ) (1.30 )

Net asset value, end of year

$20.69 $17.03 $15.36 $24.19 $19.67

Total Return(c):

25.62 % 13.04 % (21.43 )% 34.16 % 22.08 %
Ratios/Supplemental Data:

Net assets, end of year(in millions)

$9 $6 $6 $6 $6

Average net assets (in millions)

$7 $5 $6 $6 $6

Ratios to average net assets(d):

Expenses after waivers and/or expense reimbursement

1.89 % 1.98 % 1.97 % 1.95 % 2.01 %

Expenses before waivers and/or expense reimbursement

1.89 % 1.98 % 1.97 % 1.95 % 2.01 %

Net investment income (loss)

(0.52 )% (0.50 )% (0.78 )% (1.03 )% (0.67 )%

Portfolio turnover rate(e)

47 % 46 % 42 % 70 % 66 %
(a)

Calculated based on average shares outstanding during the year.

(b)

The per share amount of net investment income (loss) does not directly correlate to the amounts reported in the Statement of Operations due to class specific expenses.

(c)

Total return does not consider the effects of sales loads. Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

(d)

Does not include expenses of the underlying funds in which the Fund invests.

(e)

The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kindtransactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

PGIM Jennison Blend Fund 21

Financial Highlights(continued)

Class Z Shares
Year Ended August 31,
2024 2023 2022 2021 2020

Per Share Operating Performance(a):

Net Asset Value, Beginning of Year

$21.53 $19.21 $28.77 $22.91 $19.87

Income (loss) from investment operations:

Net investment income (loss)

0.17 0.16 0.13 0.07 0.13
Net realized and unrealized gain (loss) on investment and foreign currency transactions 5.51 2.58 (5.01 ) 7.72 4.37

Total from investment operations

5.68 2.74 (4.88 ) 7.79 4.50

Less Dividends and Distributions:

Dividends from net investment income

(0.17 ) (0.13 ) (0.01 ) (0.13 ) (0.16 )

Distributions from net realized gains

(0.57 ) (0.29 ) (4.67 ) (1.80 ) (1.30 )

Total dividends and distributions

(0.74 ) (0.42 ) (4.68 ) (1.93 ) (1.46 )

Net asset value, end of year

$26.47 $21.53 $19.21 $28.77 $22.91

Total Return(b):

27.19 % 14.59 % (20.41 )% 35.96 % 23.68 %
Ratios/Supplemental Data:

Net assets, end of year (in millions)

$47 $38 $36 $48 $35

Average net assets (in millions)

$41 $35 $43 $41 $31

Ratios to average net assets(c):

Expenses after waivers and/or expense reimbursement

0.64 % 0.66 % 0.64 % 0.63 % 0.68 %

Expenses before waivers and/or expense reimbursement

0.64 % 0.66 % 0.64 % 0.63 % 0.68 %

Net investment income (loss)

0.73 % 0.81 % 0.55 % 0.28 % 0.65 %

Portfolio turnover rate(d)

47 % 46 % 42 % 70 % 66 %
(a)

Calculated based on average shares outstanding during the year.

(b)

Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

(c)

Does not include expenses of the underlying funds in which the Fund invests.

(d)

The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kindtransactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

22

Class R6 Shares

Year Ended August 31,

2024 2023 2022 2021 2020

Per Share Operating Performance(a):

Net Asset Value, Beginning of Year

$21.53 $19.21 $28.77 $22.91 $19.87

Income (loss) from investment operations:

Net investment income (loss)

0.17 0.17 0.13 0.05 0.13
Net realized and unrealized gain (loss) on investment and foreign currency transactions 5.51 2.57 (5.01 ) 7.74 4.37

Total from investment operations

5.68 2.74 (4.88 ) 7.79 4.50

Less Dividends and Distributions:

Dividends from net investment income

(0.17 ) (0.13 ) (0.01 ) (0.13 ) (0.16 )

Distributions from net realized gains

(0.57 ) (0.29 ) (4.67 ) (1.80 ) (1.30 )

Total dividends and distributions

(0.74 ) (0.42 ) (4.68 ) (1.93 ) (1.46 )

Net asset value, end of year

$26.47 $21.53 $19.21 $28.77 $22.91

Total Return(b):

27.19 % 14.59 % (20.41 )% 35.96 % 23.69 %
Ratios/Supplemental Data:

Net assets, end of year(in thousands)

$723 $352 $1,215 $1,202 $14

Average net assets (in thousands)

$492 $520 $1,212 $324 $12

Ratios to average net assets(c):

Expenses after waivers and/or expense reimbursement

0.64 % 0.66 % 0.64 % 0.63 % 0.68 %

Expenses before waivers and/or expense reimbursement

2.99 % 2.09 % 1.49 % 5.61 % 130.02 %

Net investment income (loss)

0.73 % 0.87 % 0.56 % 0.17 % 0.65 %

Portfolio turnover rate(d)

47 % 46 % 42 % 70 % 66 %
(a)

Calculated based on average shares outstanding during the year.

(b)

Total return is calculated assuming a purchase of a share on the first day and a sale on the last day of each year reported and includes reinvestment of dividends and distributions, if any. Total returns may reflect adjustments to conform to GAAP.

(c)

Does not include expenses of the underlying funds in which the Fund invests.

(d)

The Fund's portfolio turnover rate is calculated in accordance with regulatory requirements, without regard to transactions involving short-term investments, certain derivatives and in-kindtransactions (if any). If such transactions were included, the Fund's portfolio turnover rate may be higher.

See Notes to Financial Statements.

PGIM Jennison Blend Fund 23

Notes to Financial Statements

1.

Organization

Prudential Jennison Blend Fund, Inc. (the "Registered Investment Company" or "RIC") is registered under the Investment Company Act of 1940, as amended ("1940 Act"), as an open-endmanagement investment company. The RIC is organized as a Maryland Corporation and PGIM Jennison Blend Fund (the "Fund") is the sole series of the RIC. The Fund is classified as a diversified fund for purposes of the 1940 Act.

The investment objective of the Fund is long-term capital growth.

2.

Accounting Policies

The Fund follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") Topic 946 Financial Services - Investment Companies. The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements. The policies conform to U.S. generally accepted accounting principles ("GAAP"). The Fund consistently follows such policies in the preparation of its financial statements.

Securities Valuation: The Fund holds securities and other assets and liabilities that are fair valued as of the close of each day (generally, 4:00 PM Eastern time) the New York Stock Exchange ("NYSE") is open for trading. As described in further detail below, the Fund's investments are valued daily based on a number of factors, including the type of investment and whether market quotations are readily available. The RIC's Board of Directors (the "Board") has approved the Fund's valuation policies and procedures for security valuation and designated PGIM Investments LLC ("PGIM Investments" or the "Manager") as the "Valuation Designee," as defined by Rule 2a-5(b)under the 1940 Act, to perform the fair value determination relating to all Fund investments. Pursuant to the Board's oversight, the Valuation Designee has established a Valuation Committee to perform the duties and responsibilities of the Valuation Designee under Rule 2a-5.The valuation procedures permit the Fund to utilize independent pricing vendor services, quotations from market makers, and alternative valuation methods when market quotations are either not readily available or not deemed representative of fair value. Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date.

For the fiscal reporting year-end,securities and other assets and liabilities were fair valued at the close of the last U.S. business day. Trading in certain foreign securities may occur when the NYSE is closed (including weekends and holidays). Because such foreign securities

24

trade in markets that are open on weekends and U.S. holidays, the values of some of the Fund's foreign investments may change on days when investors cannot purchase or redeem Fund shares.

Various inputs determine how the Fund's investments are valued, all of which are categorized according to the three broad levels (Level 1, 2, or 3) detailed in the Schedule of Investments and referred to herein as the "fair value hierarchy" in accordance with FASB ASC Topic 820 Fair Value Measurement.

Common or preferred stocks, exchange-traded funds ("ETFs") and derivative instruments, if applicable, that are traded on a national securities exchange are valued at the last sale price as of the close of trading on the applicable exchange where the security principally trades. Securities traded via NASDAQ are valued at the NASDAQ official closing price. To the extent these securities are valued at the last sale price or NASDAQ official closing price, they are classified as Level 1 in the fair value hierarchy. In the event that no sale or official closing price on a valuation date exists, these securities are generally valued at the mean between the last reported bid and ask prices, or at the last bid price in the absence of an ask price. These securities are classified as Level 2 in the fair value hierarchy.

Foreign equities traded on foreign securities exchanges are generally valued using pricing vendor services that provide model prices derived using adjustment factors based on information such as local closing price, relevant general and sector indices, currency fluctuations, depositary receipts, and futures, as applicable. Securities valued using such model prices are classified as Level 2 in the fair value hierarchy. The models generate an evaluated adjustment factor for each security, which is applied to the local closing price to adjust it for post closing market movements up to the time the Fund is valued. Utilizing that evaluated adjustment factor, the vendor provides an evaluated price for each security. If the vendor does not provide an evaluated price, securities are valued in accordance with exchange-traded common and preferred stock valuation policies discussed above.

Investments in open-endfunds (other than ETFs) are valued at their net asset values as of the close of the NYSE on the date of valuation. These securities are classified as Level 1 in the fair value hierarchy since they may be purchased or sold at their net asset values on the date of valuation.

Securities and other assets that cannot be priced according to the methods described above are valued based on policies and procedures approved by the Board. In the event that unobservable inputs are used when determining such valuations, the securities will be classified as Level 3 in the fair value hierarchy. Altering one or more unobservable inputs may result in a significant change to a Level 3 security's fair value measurement.

When determining the fair value of securities, some of the factors influencing the valuation include: the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer's financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of

PGIM Jennison Blend Fund 25

Notes to Financial Statements (continued)

the issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; and any available analyst media or other reports or information deemed reliable by the Valuation Designee regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security's most recent closing price and from the price used by other unaffiliated mutual funds to calculate their net asset values.

Foreign Currency Translation: The books and records of the Fund are maintained in U.S. dollars. Foreign currency amounts are translated into U.S. dollars on the following basis:

(i) market value of investment securities, other assets and liabilities - at the exchange rate as of the valuation date;

(ii) purchases and sales of investment securities, income and expenses - at the rates of exchange prevailing on the respective dates of such transactions.

Although the net assets of the Fund are presented at the foreign exchange rates and market values at the close of the period, the Fund does not generally isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities held at the end of the period. Similarly, the Fund does not isolate the effect of changes in foreign exchange rates from the fluctuations arising from changes in the market prices of long-term portfolio securities sold during the period. Accordingly, holding period unrealized and realized foreign currency gains (losses) are included in the reported net change in unrealized appreciation (depreciation) on investments and net realized gains (losses) on investment transactions on the Statements of Operations.

Net realized gains (losses) on foreign currency transactions represent net foreign exchange gains (losses) from the disposition of holdings of foreign currencies, currency gains (losses) realized between the trade and settlement dates on investment transactions, and the difference between the amounts of interest, dividends and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized currency gains (losses) arise from valuing foreign currency denominated assets and liabilities (other than investments) at period end exchange rates.

Master Netting Arrangements: The RIC, on behalf of the Fund, is subject to various Master Agreements, or netting arrangements, with select counterparties. These are agreements which a subadviser may have negotiated and entered into on behalf of all or a portion of the Fund. A master netting arrangement between the Fund and the counterparty permits the Fund to offset amounts payable by the Fund to the same counterparty against amounts to be received and by the receipt of collateral from the counterparty by the Fund to cover the

26

Fund's exposure to the counterparty. However, there is no assurance that such mitigating factors are easily enforceable. In addition to master netting arrangements, the right to set-offexists when all the conditions are met such that each of the parties owes the other determinable amounts, the reporting party has the right to set-offthe amount owed with the amount owed by the other party, the reporting party intends to set-offand the right of set-offis enforceable by law.

Securities Lending: The Fund lends its portfolio securities to banks and broker-dealers. The loans are secured by collateral at least equal to the market value of the securities loaned. Collateral pledged by each borrower is invested in an affiliated money market fund and is marked to market daily, based on the previous day's market value, such that the value of the collateral exceeds the value of the loaned securities. In the event of significant appreciation in value of the securities on loan on the last business day of the reporting period, the financial statements may reflect a collateral value that is less than the market value of the loaned securities. Such shortfall is remedied as described above. Loans are subject to termination at the option of the borrower or the Fund. Upon termination of the loan, the borrower will return to the Fund securities identical to the loaned securities. The remaining open loans of the securities lending transactions are considered overnight and continuous. Should the borrower of the securities fail financially, the Fund has the right to repurchase the securities in the open market using the collateral.

The Fund recognizes income, net of any rebate and securities lending agent fees, for lending its securities in the form of fees or interest on the investment of any cash received as collateral. The borrower receives all interest and dividends from the securities loaned and such payments are passed back to the lender in amounts equivalent thereto, which are reflected in interest income or unaffiliated dividend income based on the nature of the payment on the Statement of Operations. The Fund also continues to recognize any unrealized gain (loss) in the market price of the securities loaned and on the change in the value of the collateral invested that may occur during the term of the loan. In addition, realized gain (loss) is recognized on changes in the value of the collateral invested upon liquidation of the collateral. Net earnings from securities lending are disclosed in the Statement of Operations.

Equity and Mortgage Real Estate Investment Trusts (collectively "REITs"): The Fund invested in REITs, which report information on the source of their distributions annually. Based on current and historical information, a portion of distributions received from REITs during the period is estimated to be dividend income, capital gain or return of capital and recorded accordingly. When material, these estimates are adjusted periodically when the actual source of distributions is disclosed by the REITs.

Securities Transactions and Net Investment Income: Securities transactions are recorded on the trade date. Realized gains (losses) from investment and currency transactions are calculated on the specific identification method. Dividend income is recorded on the ex-date,or for certain foreign securities, when the Fund becomes aware of such dividends. Expenses are recorded on an accrual basis, which may require the use of certain estimates

PGIM Jennison Blend Fund 27

Notes to Financial Statements (continued)

by management that may differ from actual expense amounts. Net investment income or loss (other than class specific expenses and waivers, which are allocated as noted below) and unrealized and realized gains (losses) are allocated daily to each class of shares based upon the relative proportion of adjusted net assets of each class at the beginning of the day. Class specific expenses and waivers, where applicable, are charged to the respective share classes. Such class specific expenses and waivers include distribution fees and distribution fee waivers, shareholder servicing fees, transfer agent's fees and expenses, registration fees and fee waivers and/or expense reimbursements, as applicable.

Taxes: It is the Fund's policy to continue to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its taxable net investment income and capital gains, if any, to its shareholders. Therefore, no federal income tax provision is required. Withholding taxes on foreign dividends, interest and capital gains, if any, are recorded, net of reclaimable amounts, at the time the related income is earned.

Dividends and Distributions: Dividends and distributions to shareholders, which are determined in accordance with federal income tax regulations and which may differ from GAAP, are recorded on the ex-date.Permanent book/tax differences relating to income and gain (loss) are reclassified between total distributable earnings (loss) and paid-incapital in excess of par, as appropriate. The chart below sets forth the expected frequency of dividend and capital gains distributions to shareholders. Various factors may impact the frequency of dividend distributions to shareholders, including but not limited to adverse market conditions or portfolio holding-specific events.

 Expected Distribution Schedule to Shareholders*

Frequency 

 Net Investment Income

Annually 

 Short-Term Capital Gains

Annually 

 Long-Term Capital Gains

Annually 
*

Under certain circumstances, the Fund may make more than one distribution of short-term and/or long-term capital gains during a fiscal year.

Estimates: The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

3.

Agreements

The RIC, on behalf of the Fund, has entered into a management agreement with the Manager pursuant to which it has responsibility for all investment advisory services, including supervision of the subadviser's performance of such services, and for rendering administrative services.

28

The Manager has entered into a subadvisory agreement with Jennison Associates LLC ("Jennison" or the "subadviser"). The Manager pays for the services of Jennison.

Fees payable under the management agreement are computed daily and paid monthly. For the reporting period ended August 31, 2024, the contractual and effective management fee rates were as follows:

Contractual Management Rate Effective Management Fee, before any waivers
and/or expense reimbursements

 0.50% of average daily net assets to $500 million;

0.49%

 0.475% of average daily net assets over $500 million to $1 billion;

 0.45% of average daily net assets in excess of $1 billion

The Manager has contractually agreed, through December 31, 2025, to limit total annual operating expenses after fee waivers and/or expense reimbursements. This contractual waiver excludes interest, brokerage, taxes (such as income and foreign withholding taxes, stamp duty and deferred tax expenses), acquired fund fees and expenses, extraordinary expenses, and certain other Fund expenses such as dividend and interest expense and broker charges on short sales.

Where applicable, the Manager agrees to waive management fees or shared operating expenses on any share class to the same extent that it waives such expenses on any other share class. In addition, total annual operating expenses for Class R6 shares will not exceed total annual operating expenses for Class Z shares. Fees and/or expenses waived and/or reimbursed by the Manager for the purpose of preventing the expenses from exceeding a certain expense ratio limit may be recouped by the Manager within the same fiscal year during which such waiver and/or reimbursement is made if such recoupment can be realized without exceeding the expense limit in effect at the time of the waiver/reimbursement and/or recoupment for that fiscal year, as applicable. The expense limitations attributable to each class are as follows:

Class Expense 
Limitations 

 A

- %

 C

-

 Z

-

 R6

0.68

The RIC, on behalf of the Fund, has a distribution agreement with Prudential Investment Management Services LLC ("PIMS"), which acts as the distributor of the Class A, Class C, Class Z and Class R6 shares of the Fund. The Fund compensates PIMS for distributing and servicing the Fund's Class A and Class C shares, pursuant to the plans of distribution (the "Distribution Plans"), regardless of expenses actually incurred by PIMS.

PGIM Jennison Blend Fund 29

Notes to Financial Statements (continued)

Pursuant to the Distribution Plans, the Fund compensates PIMS for distribution related activities at an annual rate based on average daily net assets per class. The distribution fees are accrued daily and payable monthly.

The Fund's annual gross and net distribution rates, where applicable, are as follows:

Class Gross Distribution Fee Net Distribution Fee 

 A

0.30 % 0.30 %

 C

1.00 1.00

 Z

N/A N/A

 R6

N/A N/A

For the year ended August 31, 2024, PIMS received front-endsales charges ("FESL") resulting from sales of certain class shares and contingent deferred sales charges ("CDSC") imposed upon redemptions by certain shareholders. From these fees, PIMS paid such sales charges to broker-dealers, who in turn paid commissions to salespersons and incurred other distribution costs. The sales charges are as follows where applicable:

Class FESL CDSC 

 A

$ 231,311 $4,302 

 C

- 332 

The RIC, on behalf of the Fund, has entered into brokerage commission recapture agreements with certain registered broker-dealers. Under the brokerage commission recapture program, a portion of the commission is returned to the Fund on whose behalf the trades were made. Commission recapture is paid solely to the Fund generating the applicable trades. Such amounts are included within realized gain (loss) on investment transactions presented in the Statement of Operations. For the reporting period ended August 31, 2024, brokerage commissions recaptured under these agreements was $6,720.

PGIM Investments, PIMS and Jennison are indirect, wholly-owned subsidiaries of Prudential Financial, Inc. ("Prudential").

4.

Other Transactions with Affiliates

Prudential Mutual Fund Services LLC ("PMFS"), an affiliate of PGIM Investments and an indirect, wholly-owned subsidiary of Prudential, serves as the Fund's transfer agent and shareholder servicing agent. Transfer agent's fees and expenses in the Statement of Operations include certain out-of-pocketexpenses paid to non-affiliates,where applicable.

The Fund may invest its overnight sweep cash in the PGIM Core Government Money Market Fund (the "Core Government Fund"), a series of the Prudential Government Money Market Fund, Inc., and its securities lending cash collateral in the PGIM Institutional Money Market

30

Fund (the "Money Market Fund"), a series of Prudential Investment Portfolios 2, each registered under the 1940 Act and managed by PGIM Investments. PGIM Investments and/or its affiliates are paid fees or reimbursed for providing their services to the Core Government Fund and the Money Market Fund. In addition to the realized and unrealized gains on investments in the Core Government Fund and the Money Market Fund, earnings from such investments are disclosed on the Statement of Operations as "Affiliated dividend income" and "Income from securities lending, net", respectively.

The Fund may enter into certain securities purchase or sale transactions under Board approved Rule 17a-7procedures. Rule 17a-7is an exemptive rule under the 1940 Act that, subject to certain conditions, permits purchase and sale transactions among affiliated investment companies, or between an investment company and a person that is affiliated solely by reason of having a common (or affiliated) investment adviser, common directors/trustees, and/or common officers. For the year ended August 31, 2024, no Rule 17a-7transactions were entered into by the Fund.

5.

Portfolio Securities

The aggregate cost of purchases and proceeds from sales of portfolio securities (excluding short-term investments and U.S. Government securities) for the reporting period ended August 31, 2024, were as follows:

Cost of Purchases Proceeds from Sales

$464,494,812

$539,034,059

A summary of the cost of purchases and proceeds from sales of shares of affiliated mutual funds for the year ended August 31, 2024, is presented as follows:

Value, 
 Beginning 
 of Year  		Cost of
Purchases

Proceeds

from Sales

Change in
Unrealized

Gain

(Loss)

Realized
Gain
(Loss) 		Value,
End of Year 		Shares,
End
of Year 		Income

Short-Term Investments - Affiliated Mutual Funds:

PGIM Core Government Money Market Fund (7-dayeffective yield 5.562%)(1)(wb)

 $25,504,196

$106,512,456 $118,326,575 $    - $    - $13,690,077 13,690,077 $1,091,530

PGIM Institutional Money Market Fund (7-dayeffective yield 5.595%)(1)(b)(wb)

  38,154,517

175,944,986 214,095,553 (34,279 ) 30,329 - - 74,220 (2)

 $63,658,713

$282,457,442 $332,422,128 $(34,279 ) $30,329 $13,690,077 $1,165,750
(1)

The Fund did not have any capital gain distributions during the reporting period.

(2)

The amount, or a portion thereof, represents the affiliated securities lending income shown on the Statement of Operations.

(b)

Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment.

(wb)

Represents an investment in a Fund affiliated with the Manager.

PGIM Jennison Blend Fund 31

Notes to Financial Statements (continued)

6.

Distributions and Tax Information

Distributions to shareholders, which are determined in accordance with federal income tax regulations and which may differ from GAAP, are recorded on the ex-date.

For the year ended August 31, 2024, the tax character of dividends paid as reflected in the Statement of Changes in Net Assets were as follows:

Ordinary  
Income 		Long-Term
Capital Gains 		Tax Return
of Capital 		Total Dividends
 and Distributions 
$4,634,790 $24,778,584 $- $29,413,374

For the year ended August 31, 2023, the tax character of dividends paid as reflected in the Statement of Changes in Net Assets were as follows:

Ordinary  
Income 		Long-Term
Capital Gains 		Tax Return
of Capital 		Total Dividends
 and Distributions 
$2,918,698 $13,451,744 $- $16,370,442

For the year ended August 31, 2024, the Fund had the following amounts of accumulated undistributed earnings on a tax basis:

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital Gains

$13,666,638 $94,443,787

The United States federal income tax basis of the Fund's investments and the net unrealized appreciation as of August 31, 2024 were as follows:

Tax Basis Gross
Unrealized
Appreciation 		Gross
Unrealized
Depreciation 		Net
Unrealized
Appreciation
 $646,281,226 $478,272,627 $(29,070,304) $449,202,323

The difference between GAAP basis and tax basis was primarily attributable to deferred losses on wash sales.

The Manager has analyzed the Fund's tax positions taken on federal, state and local income tax returns for all open tax years and has concluded that no provision for income tax is required in the Fund's financial statements for the current reporting period. Since tax authorities can examine previously filed tax returns, the Fund's U.S. federal and state tax returns for each of the four fiscal years up to the most recent fiscal year ended August 31, 2024 are subject to such review.

32

7.

Capital and Ownership

The Fund offers Class A, Class C, Class Z and Class R6 shares. Class A shares are sold with a maximum front-endsales charge of 5.50%. Investors who purchase $1 million or more of Class A shares and sell these shares within 12 months of purchase are subject to a CDSC of 1%, although they are not subject to an initial sales charge. The Class A CDSC is waived for certain retirement and/or benefit plans. A special exchange privilege is also available for shareholders who qualified to purchase Class A shares at net asset value. Class C shares are sold with a CDSC of 1% on sales made within 12 months of purchase. Class C shares will automatically convert to Class A shares on a monthly basis approximately eight years (ten years prior to January 22, 2021) after purchase. Class Z and Class R6 shares are not subject to any sales or redemption charges and are available exclusively for sale to a limited group of investors.

Under certain circumstances, an exchange may be made from specified share classes of the Fund to one or more other share classes of the Fund as presented in the table of transactions in shares of common stock, below.

The RIC is authorized to issue 1,000,000,000 shares of common stock, $0.01 par value per share, designated as shares of the Fund. The authorized shares of the Fund are currently classified and designated as follows:

Class Number of Shares

 A

200,000,000

 B

  5,000,000

 C

 25,000,000

 Z

340,000,000

 T

100,000,000

 R6

330,000,000

The Fund currently does not have any Class B or Class T shares outstanding.

As of August 31, 2024, Prudential, through its affiliated entities, including affiliated funds (if applicable), owned shares of the Fund as follows:

Class Number of Shares Percentage of Outstanding Shares 

 R6

826 3.0%

At the reporting period end, the number of shareholders holding greater than 5% of the Fund are as follows:

Number of Shareholders Percentage of Outstanding Shares 

 Affiliated

-  -%

 Unaffiliated

2 31.1  

PGIM Jennison Blend Fund 33

Notes to Financial Statements (continued)

Transactions in shares of common stock were as follows:

Share Class Shares Amount

 Class A

 Year ended August 31, 2024:

Shares sold

518,102 $ 11,887,871

Shares issued in reinvestment of dividends and distributions

1,296,099 27,477,290

Shares purchased

(4,357,612 ) (100,425,043 )

Net increase (decrease) in shares outstanding before conversion

(2,543,411 ) (61,059,882 )

Shares issued upon conversion from other share class(es)

27,653 640,075

 Shares purchased upon conversion into other share class(es)

(217,126 ) (5,231,325 )

 Net increase (decrease) in shares outstanding

(2,732,884 ) $ (65,651,132 )

 Year ended August 31, 2023:

Shares sold

414,783 $ 8,177,943

Shares issued in reinvestment of dividends and distributions

824,769 15,249,974

Shares purchased

(4,599,896 ) (88,960,660 )

Net increase (decrease) in shares outstanding before conversion

(3,360,344 ) (65,532,743 )

Shares issued upon conversion from other share class(es)

24,461 481,063

Shares purchased upon conversion into other share class(es)

(148,093 ) (2,893,617 )

 Net increase (decrease) in shares outstanding

(3,483,976 ) $ (67,945,297 )

 Class C

 Year ended August 31, 2024:

Shares sold

185,451 $ 3,431,333

Shares issued in reinvestment of dividends and distributions

11,674 196,233

Shares purchased

(60,563 ) (1,095,263 )

Net increase (decrease) in shares outstanding before conversion

136,562 2,532,303

 Shares purchased upon conversion into other share class(es)

(28,652 ) (510,563 )

 Net increase (decrease) in shares outstanding

107,910 $ 2,021,740

 Year ended August 31, 2023:

Shares sold

67,003 $ 1,058,037

Shares issued in reinvestment of dividends and distributions

7,204 106,841

Shares purchased

(81,081 ) (1,247,691 )

Net increase (decrease) in shares outstanding before conversion

(6,874 ) (82,813 )

Shares purchased upon conversion into other share class(es)

(24,793 ) (386,840 )

 Net increase (decrease) in shares outstanding

(31,667 ) $ (469,653 )

34

Share Class Shares Amount

 Class Z

 Year ended August 31, 2024:

Shares sold

50,889 $ 1,180,055

Shares issued in reinvestment of dividends and distributions

60,248 1,284,483

Shares purchased

(316,765 ) (7,456,522 )

Net increase (decrease) in shares outstanding before conversion

(205,628 ) (4,991,984 )

Shares issued upon conversion from other share class(es)

209,774 5,074,403

 Shares purchased upon conversion into other share class(es)

(14,079 ) (324,595 )

 Net increase (decrease) in shares outstanding

(9,933 ) $ (242,176 )

 Year ended August 31, 2023:

Shares sold

90,781 $ 1,830,133

Shares issued in reinvestment of dividends and distributions

40,127 745,565

Shares purchased

(345,596 ) (6,696,865 )

Net increase (decrease) in shares outstanding before conversion

(214,688 ) (4,121,167 )

Shares issued upon conversion from other share class(es)

138,661 2,729,424

Shares purchased upon conversion into other share class(es)

(6,931 ) (139,978 )

 Net increase (decrease) in shares outstanding

(82,958 ) $  (1,531,721 )

 Class R6

 Year ended August 31, 2024:

Shares sold

4,841 $ 118,224

Shares issued in reinvestment of dividends and distributions

783 16,693

Shares purchased

(9,678 ) (222,886 )

Net increase (decrease) in shares outstanding before conversion

(4,054 ) (87,969 )

 Shares issued upon conversion from other share class(es)

15,022 352,005

 Net increase (decrease) in shares outstanding

10,968 $ 264,036

 Year ended August 31, 2023:

Shares sold

6,238 $ 121,628

Shares issued in reinvestment of dividends and distributions

718 13,340

Shares purchased

(64,649 ) (1,243,177 )

Net increase (decrease) in shares outstanding before conversion

(57,693 ) (1,108,209 )

Shares issued upon conversion from other share class(es)

10,821 209,948

 Net increase (decrease) in shares outstanding

(46,872 ) $ (898,261 )
8.

Borrowings

The RIC, on behalf of the Fund, along with other affiliated registered investment companies (the "Participating Funds"), is a party to a Syndicated Credit Agreement ("SCA") with a group of banks. The purpose of the SCA is to provide an alternative source of temporary funding for capital share redemptions. The table below provides details of the current SCA in effect at the reporting period-endas well as the prior SCA.

Current SCA Prior SCA

Term of Commitment

9/29/2023 - 9/26/2024 9/30/2022 -9/28/2023

PGIM Jennison Blend Fund 35

Notes to Financial Statements (continued)

Current SCA Prior SCA

Total Commitment

$1,200,000,000 $1,200,000,000

Annualized Commitment Fee on the

Unused Portion of the SCA

0.15% 0.15%

Annualized Interest Rate on

Borrowings

1.00% plus the higher of (1)
the effective federal funds
rate, (2) the daily SOFR
rate plus 0.10% or (3) zero
percent 		1.00% plus the higher of (1)
the effective federal funds
rate, (2) the daily SOFR
rate plus 0.10% or (3) zero
percent

Subsequent to the reporting period end, the SCA has been renewed and effective September 27, 2024 will provide a commitment of $1,200,000,000 through September 25, 2025. The commitment fee allocated to the Participating Funds will continue to be 0.15% of the unused portion of the SCA. The interest on borrowings under the renewed SCA will be paid monthly and at a per annum interest rate of 1.00% plus the higher of (1) the effective federal funds rate, (2) the daily SOFR rate plus 0.10% or (3) zero percent.

Certain affiliated registered investment companies that are parties to the SCA include portfolios that are subject to a predetermined mathematical formula used to manage certain benefit guarantees offered under variable annuity contracts. The formula may result in large scale asset flows into and out of these portfolios. Consequently, these portfolios may be more likely to utilize the SCA for purposes of funding redemptions. It may be possible for those portfolios to fully exhaust the committed amount of the SCA, thereby requiring the Manager to allocate available funding per a Board-approved methodology designed to treat the Participating Funds in the SCA equitably.

The Fund did not utilize the SCA during the year ended August 31, 2024.

9.

Risks of Investing in the Fund

The Fund's risks include, but are not limited to, some or all of the risks discussed below. For further information on the Fund's risks, please refer to the Fund's Prospectus and Statement of Additional Information.

Blend Style Risk: The Fund's blend investment style may subject the Fund to risks of both value and growth investing. The portion of the Fund's portfolio that makes investments pursuant to a growth strategy may be subject to above-average fluctuations as a result of seeking higher than average capital growth. The portion of the Fund's portfolio that makes investments pursuant to a value strategy may be subject to the risk that the market may not recognize a security's intrinsic value for long periods of time or at all, or that a stock judged to be undervalued may actually be appropriately priced or overvalued. Issuers of value stocks may have experienced adverse business developments or may be subject to special risks that have caused the stock to be out of favor. If the Fund's assessment of market

36

conditions or a company's value is inaccurate, the Fund could suffer losses or produce poor performance relative to other funds. Historically, growth stocks have performed best during later stages of economic expansion and value stocks have performed best during periods of economic recovery. Therefore, both styles may over time go in and out of favor with the markets. At times when a style is out of favor, that portion of the portfolio may lag the other portion of the portfolio, which may cause the Fund to underperform the market in general, its benchmark and other mutual funds. Growth and value stocks have historically produced similar long-term results, though each category has periods when it outperforms the other.

Economic and Market Events Risk: Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks to stimulate or stabilize economic growth or the functioning of the securities markets, or otherwise reduce inflation, may at times result in unusually high market volatility, which could negatively impact performance. Governmental efforts to curb inflation often have negative effects on the level of economic activity. Relatively reduced liquidity in credit and fixed income markets could adversely affect issuers worldwide.

Equity and Equity-Related Securities Risk: 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. In addition to an individual security losing value, the value of the equity markets or a sector in which the Fund invests could go down. Different parts of a market can react differently to adverse issuer, market, regulatory, political and economic developments.

Foreign Securities Risk: Investments in securities of non-U.S.issuers (including those denominated in U.S. dollars) may involve more risk than investing in securities of U.S. issuers. Foreign political, economic and legal systems, especially those in developing and emerging market countries, may be less stable and more volatile than in the United States. Foreign legal systems generally have fewer regulatory requirements than the U.S. legal system, particularly those of emerging markets. In general, less information is publicly available with respect to non-U.S.companies than U.S. companies. Non-U.S.companies generally are not subject to the same accounting, auditing, and financial reporting standards as are U.S. companies. Additionally, the changing value of foreign currencies and changes in exchange rates could also affect the value of the assets the Fund holds and the Fund's performance. Certain foreign countries may impose restrictions on the ability of issuers of foreign securities to make payment of principal and interest or dividends to investors located outside the country, due to blockage of foreign currency exchanges or otherwise. Investments in emerging markets are subject to greater volatility and price declines.

In addition, the Fund's investments in non-U.S.securities may be subject to the risks of nationalization or expropriation of assets, imposition of currency exchange controls or restrictions on the repatriation of non-U.S.currency, confiscatory taxation and adverse diplomatic developments. Special U.S. tax considerations may apply.

Increase in Expenses Risk: Your actual cost of investing in the Fund may be higher than the expenses shown in the expense table in the Fund's prospectus for a variety of reasons. For

PGIM Jennison Blend Fund 37

Notes to Financial Statements (continued)

example, expense ratios may be higher than those shown if average net assets decrease. Net assets are more likely to decrease and Fund expense ratios are more likely to increase when markets are volatile. Active and frequent trading of Fund securities can increase expenses.

Large Shareholder and Large Scale Redemption Risk: Certain individuals, accounts, funds (including funds affiliated with the Manager) or institutions, including the Manager and its affiliates, may from time to time own or control a substantial amount of the Fund's shares. There is no requirement that these entities maintain their investment in the Fund. There is a risk that such large shareholders or that the Fund's shareholders generally may redeem all or a substantial portion of their investments in the Fund in a short period of time, which could have a significant negative impact on the Fund's NAV, liquidity, and brokerage costs. Large redemptions could also result in tax consequences to shareholders and impact the Fund's ability to implement its investment strategy. The Fund's ability to pursue its investment objective after one or more large scale redemptions may be impaired and, as a result, the Fund may invest a larger portion of its assets in cash or cash equivalents.

Management Risk: Actively managed funds are subject to management risk. The subadviser will apply investment techniques and risk analyses in making investment decisions for the Fund, but the subadviser's judgments about the attractiveness, value or market trends affecting a particular security, industry or sector or about market movements may be incorrect. Additionally, the investments selected for the Fund may underperform the markets in general, the Fund's benchmark and other funds with similar investment objectives.

Market Capitalization Risk: The Fund may invest in companies of any market capitalization. Generally, the stock prices of small- and mid-capcompanies are less stable than the prices of large-capstocks and may present greater risks. Large capitalization companies as a group could fall out of favor with the market, causing the Fund to underperform compared to investments that focus on smaller capitalized companies.

Market Disruption and Geopolitical Risks: Market disruption can be caused by economic, financial or political events and factors, including but not limited to, international wars or conflicts (including Russia's military invasion of Ukraine and the Israel-Hamas war), geopolitical developments (including trading and tariff arrangements, sanctions and cybersecurity attacks), instability in regions such as Asia, Eastern Europe and the Middle East, terrorism, natural disasters and public health epidemics (including the outbreak of COVID-19globally).

The extent and duration of such events and resulting market disruptions cannot be predicted, but could be substantial and could magnify the impact of other risks to the Fund.

38

These and other similar events could adversely affect the U.S. and foreign financial markets and lead to increased market volatility, reduced liquidity in the securities markets, significant negative impacts on issuers and the markets for certain securities and commodities and/or government intervention. They may also cause short- or long-term economic uncertainties in the United States and worldwide. As a result, whether or not the Fund invests in securities of issuers located in or with significant exposure to the countries directly affected, the value and liquidity of the Fund's investments may be negatively impacted. Further, due to closures of certain markets and restrictions on trading certain securities, the value of certain securities held by the Fund could be significantly impacted, which could lead to such securities being valued at zero.

Market Risk: Securities markets may be volatile and the market prices of the Fund's securities may decline. Securities fluctuate in price based on changes in an issuer's financial condition and overall market and economic conditions. If the market prices of the securities owned by the Fund fall, the value of your investment in the Fund will decline.

Sector Exposure Risk: At times, the Fund may have a significant portion of its assets invested in the same economic sector such as the information technology and financials sectors. Issuers in the same economic sector may be similarly affected by economic or market events, making the Fund more vulnerable to unfavorable developments in that economic sector than funds that invest more broadly.

Small and Medium Sized Companies Risk: Small and medium sized companies usually offer a smaller range of products and services than larger companies. Smaller companies may also have limited financial resources and may lack management depth. As a result, their prices may fluctuate more than the stocks of larger, more established companies. Historically, small and medium sized companies have sometimes gone through extended periods when they did not perform as well as larger companies. Small and medium sized companies generally are more illiquid than larger companies, which may make such investments more difficult to sell at the time and price that the Fund would like.

PGIM Jennison Blend Fund 39

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Prudential Jennison Blend Fund, Inc. and Shareholders of PGIM Jennison Blend Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of PGIM Jennison Blend Fund (the "Fund") as of August 31, 2024, the related statement of operations for the year ended August 31, 2024, the statements of changes in net assets for each of the two years in the period ended August 31, 2024, including the related notes, and the financial highlights for each of the four years in the period ended August 31, 2024 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2024, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2024 and the financial highlights for each of the four years in the period ended August 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

The financial statements of the Fund as of and for the year ended August 31, 2020 and the financial highlights for each of the periods ended on or prior to August 31, 2020 (not presented herein, other than the financial highlights) were audited by other auditors whose report dated October 15, 2020 expressed an unqualified opinion on those financial statements and financial highlights.

Basis for Opinion

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2024 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/PricewaterhouseCoopers LLP

New York, New York

October 22, 2024

We have served as the auditor of one or more investment companies in the PGIM Retail Funds complex since 2020.

40

Other Information

Form N-CSRItem 8- Changes in and Disagreements with Accountants for Open-EndManagement Investment Companies - None.

Form N-CSRItem 9- Proxy Disclosures for Open-EndManagement Investment Companies- None.

Form N-CSRItem 10- Remuneration Paid to Directors, Officers, and Others of Open-EndManagement Investment Companies - Included as part of the financial statements filed under Item 7 of this Form.

Form N-CSRItem 11- Statement Regarding Basis for Approval of Investment Advisory Contract.

Approval of Advisory Agreements

PGIM Jennison Blend Fund

The Fund's Board of Directors

The Board of Directors (the "Board") of PGIM Jennison Blend Fund (the "Fund")1 consists of ten individuals, eight of whom are not "interested persons" of the Fund, as defined in the Investment Company Act of 1940, as amended (the "1940 Act") (the "Independent Directors"). The Board is responsible for the oversight of the Fund and its operations, and performs the various duties imposed on the directors of investment companies by the 1940 Act. The Independent Directors have retained independent legal counsel to assist them in connection with their duties. The Chair of the Board is an Independent Director. The Board has established five standing committees: the Audit Committee, the Nominating and Governance Committee, the Compliance Committee and two Investment Committees. Each committee is chaired by, and composed of, Independent Directors.

Annual Approval of the Fund's Advisory Agreements

As required under the 1940 Act, the Board determines annually whether to renew the Fund's management agreement with PGIM Investments LLC ("PGIM Investments") and the Fund's subadvisory agreement with Jennison Associates LLC ("Jennison"). In considering the renewal of the agreements, the Board, including all of the Independent Directors, met on May 28 and June 4-6,2024 (the "Board Meeting") and approved the renewal of the agreements through July 31, 2025, after concluding that the renewal of the agreements was in the best interests of the Fund and its shareholders.

In advance of the meetings, the Board requested and received materials relating to the agreements, and had the opportunity to ask questions and request further information in connection with its consideration. Among other things, the Board considered comparative fee information from PGIM Investments and Jennison. Also, the Board considered comparisons with other mutual funds in relevant peer universes and peer groups, as is further discussed below.

In approving the agreements, the Board, including the Independent Directors advised by independent legal counsel, considered the factors it deemed relevant, including the nature, quality and extent of services provided by PGIM Investments and the subadviser, the performance of the Fund, the profitability of PGIM Investments and its affiliates, expenses and fees, and the potential for economies of scale that may be shared with the Fund and its shareholders as the Fund's assets grow. In their deliberations, the Directors did not identify any single factor which alone was responsible for the Board's decision to approve an

1  PGIM Jennison Blend Fund is the sole series of Prudential Jennison Blend Fund, Inc.

PGIM Jennison Blend Fund

Approval of Advisory Agreements (continued)

agreement with respect to the Fund. In connection with its deliberations, the Board considered information provided by PGIM Investments throughout the year at regular and special Board meetings, presentations from portfolio managers and other information, as well as information furnished at or in advance of the Board Meeting.

The Directors determined that the overall arrangements between the Fund and PGIM Investments, which serves as the Fund's investment manager pursuant to a management agreement, and between PGIM Investments and Jennison, which serves as the Fund's subadviser pursuant to the terms of a subadvisory agreement with PGIM Investments, are in the best interests of the Fund and its shareholders in light of the services performed, fees charged and such other matters as the Directors considered relevant in the exercise of their business judgment. The Board considered the approval of the agreements for the Fund as part of its consideration of agreements for multiple funds, but its approvals were made on a fund-by-fundbasis.

The material factors and conclusions that formed the basis for the Directors' reaching their determinations to approve the continuance of the agreements are separately discussed below.

Nature, Quality and Extent of Services

The Board received and considered information regarding the nature, quality and extent of services provided to the Fund by PGIM Investments and Jennison. The Board noted that Jennison is affiliated with PGIM Investments. The Board considered the services provided by PGIM Investments, including but not limited to the oversight of the subadviser for the Fund, as well as the provision of accounting oversight, fund recordkeeping, compliance and other services to the Fund, and PGIM Investments' role as administrator for the Fund's liquidity risk management program and as valuation designee. With respect to PGIM Investments' oversight of the subadviser, the Board noted that PGIM Investments' Strategic Investment Research Group ("SIRG"), which is a business unit of PGIM Investments, is responsible for monitoring and reporting to PGIM Investments' senior management on the performance and operations of the subadviser. The Board also considered that PGIM Investments pays the salaries of all of the officers and interested Directors of the Fund who are part of Fund management. The Board also considered the investment subadvisory services provided by Jennison, including investment research and security selection, as well as adherence to the Fund's investment restrictions and compliance with applicable Fund policies and procedures. The Board considered PGIM Investments' evaluation of the subadviser, as well as PGIM Investments' recommendation, based on its review of the subadviser, to renew the subadvisory agreement.

The Board considered the qualifications, backgrounds and responsibilities of PGIM Investments' senior management responsible for the oversight of the Fund and Jennison,

Visit our website at pgim.com/investments

and also considered the qualifications, backgrounds and responsibilities of Jennison's portfolio managers who are responsible for the day-to-daymanagement of the Fund's portfolio. The Board was provided with information pertaining to PGIM Investments' and Jennison's organizational structure, senior management, investment operations, and other relevant information pertaining to both PGIM Investments and Jennison. The Board also noted that it received favorable compliance reports from the Fund's Chief Compliance Officer ("CCO") as to both PGIM Investments and Jennison.

The Board concluded that it was satisfied with the nature, extent and quality of the investment management services provided by PGIM Investments and the subadvisory services provided to the Fund by Jennison, and that there was a reasonable basis on which to conclude that the Fund benefits from the services provided by PGIM Investments and Jennison under the management and subadvisory agreements.

Costs of Services and Profits Realized by PGIM Investments

The Board was provided with information on the profitability of PGIM Investments and its affiliates in serving as the Fund's investment manager. The Board discussed with PGIM Investments the methodology utilized in assembling the information regarding profitability and considered its reasonableness. The Board recognized that it is difficult to make comparisons of profitability from fund management contracts because comparative information is not generally publicly available and is affected by numerous factors, including the structure of the particular adviser, the types of funds it manages, its business mix, numerous assumptions regarding allocations of direct and indirect costs, and the adviser's capital structure and cost of capital. Taking these factors into account, the Board concluded that the profitability of PGIM Investments and its affiliates in relation to the services rendered was not unreasonable.

Economies of Scale

The Board received and discussed information concerning economies of scale that PGIM Investments may realize as the Fund's assets grow beyond current levels. The Board noted that the management fee schedule for the Fund includes breakpoints, which have the effect of decreasing the fee rate as assets increase. During the course of time, the Board has considered information regarding the launch date of the Fund, the management fees of the Fund compared to those of similarly managed funds and PGIM Investments' investment in the Fund over time. The Board noted that economies of scale can be shared with the Fund in other ways, including low management fees from inception, additional technological and personnel investments to enhance shareholder services, and maintaining existing expense structures in the face of a rising cost environment. The Board also considered PGIM Investments' assertion that it continually evaluates the management fee schedule of the Fund and the potential to share economies of scale through breakpoints or fee waivers as asset levels increase.

PGIM Jennison Blend Fund

Approval of Advisory Agreements (continued)

The Board recognized the inherent limitations of any analysis of economies of scale, stemming largely from the Board's understanding that most of PGIM Investments' costs are not specific to individual funds, but rather are incurred across a variety of products and services.

Other Benefits to PGIM Investments and Jennison

The Board considered potential ancillary benefits that might be received by PGIM Investments, Jennison and their affiliates as a result of their relationship with the Fund. The Board concluded that potential benefits to be derived by PGIM Investments included transfer agency fees received by the Fund's transfer agent (which is affiliated with PGIM Investments), as well as benefits to its reputation or other intangible benefits resulting from PGIM Investments' association with the Fund. The Board concluded that the potential benefits to be derived by Jennison included the ability to use soft dollar credits, as well as the potential benefits consistent with those generally resulting from an increase in assets under management, specifically, potential access to additional research resources and benefits to its reputation. The Board concluded that the benefits derived by PGIM Investments and Jennison were consistent with the types of benefits generally derived by investment managers and subadvisers to mutual funds.

Performance of the Fund / Fees and Expenses

The Board considered certain additional factors and made related conclusions relating to the historical performance of the Fund for the one-,three-, five- and ten-yearperiods ended December 31, 2023.

The Board also considered the Fund's actual management fee, as well as the Fund's net total expense ratio, for the fiscal year ended August 31, 2023. The Board considered the management fee for the Fund as compared to the management fee charged by PGIM Investments to other funds and the fee charged by other advisers to comparable mutual funds in a peer group. The actual management fee represents the fee rate actually paid by Fund shareholders and includes any fee waivers or reimbursements. The net total expense ratio for the Fund represents the actual expense ratio incurred by Fund shareholders.

The mutual funds included in the peer universe, which was used to consider performance, and the peer group, which was used to consider expenses and fees, were objectively determined by Broadridge, an independent provider of mutual fund data. In certain circumstances, PGIM Investments also provided supplemental peer universe or peer group information, for reasons addressed with the Board. The comparisons placed the Fund in various quartiles over various periods, with the first quartile being the best 25% of the mutual funds (for performance, the best performing mutual funds and, for expenses, the lowest cost mutual funds).

Visit our website at pgim.com/investments

The section below summarizes key factors considered by the Board and the Board's conclusions regarding the Fund's performance, fees and overall expenses. The table sets forth net performance comparisons (which reflect the impact on performance of fund expenses, or any subsidies, expense caps or waivers that may be applicable) with the peer universe, actual management fees with the peer group (which reflect the impact of any subsidies or fee waivers), and net total expenses with the peer group, each of which were key factors considered by the Board.

Net Performance 1 Year 3 Years 5 Years 10 Years
 1st Quartile  3rd Quartile  3rd Quartile  3rd Quartile

Actual Management Fees: 1st Quartile

Net Total Expenses: 1st Quartile

·

The Board noted that the Fund outperformed its benchmark index over the one-year period, and underperformed over the remaining periods.

·

The Board considered the Fund's improving performance and also that it outperformed its peer group average for the three-year period ended March 31, 2023.

·

The Board and PGIM Investments agreed to retain the existing contractual expense cap, which (exclusive of certain fees and expenses) caps annual fund operating expenses at 0.68% for Class R6 shares through December 31, 2024.

·

In addition, PGIM Investments will waive management fees or shared operating expenses on any share class to the same extent that it waives such expenses on any other share class, and has agreed that total annual fund operating expenses for Class R6 shares will not exceed total annual fund operating expenses for Class Z shares.

·

The Board concluded that, in light of the above, it would be in the best interests of the Fund and its shareholders to renew the agreements.

·

The Board concluded that the management fees (including subadvisory fees) and total expenses were reasonable in light of the services provided.

* * *

After full consideration of these factors, the Board concluded that the approval of the agreements was in the best interests of the Fund and its shareholders.

PGIM Jennison Blend Fund

Item 12 - 

Disclosure of Proxy Voting Policies and Procedures for Closed-EndManagement Investment Companies - Not applicable.

Item 13 - 

Portfolio Managers of Closed-EndManagement Investment Companies - Not applicable.

Item 14 - 

Purchases of Equity Securities by Closed-EndManagement Investment Company and Affiliated Purchasers - Not applicable.

Item 15 - 

Submission of Matters to a Vote of Security Holders - There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.

Item 16 - 

Controls and Procedures

(a)

It is the conclusion of the registrant's principal executive officer and principal financial officer that the effectiveness of the registrant's current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission's rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant's principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b)

There has been no significant change in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d)under the Act (17 CFR 270.30a-3(d)))that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 17 - 

Disclosure of Securities Lending Activities for Closed-EndManagement Investment Companies - Not applicable.

Item 18 - 

Recovery of Erroneously Awarded Compensation - Not applicable.

Item 19 - 

Exhibits

(a)(1)

Code of Ethics - Attached hereto as Exhibit EX-99.CODE-ETH.

(a)(2)

Policy required by the listing standards adopted pursuant to Rule 10D-1under the Securities Exchange Act of 1934 - Not applicable.

(a)(3)

Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 - Attached hereto as Exhibit EX-99.CERT.

(a)(3)(1)

Any written solicitation to purchase securities under Rule 23c-1under the Investment Company Act of 1940 - Not applicable.

(a)(3)(2)

Change in the registrant's independent public accountant - Not applicable.

(b)

Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 - Attached hereto as Exhibit EX-99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant:

Prudential Jennison Blend Fund, Inc.

By:

/s/ Andrew R. French
Andrew R. French
Secretary

Date:

October 22, 2024

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:

/s/ Stuart S. Parker
Stuart S. Parker
President and Principal Executive Officer

Date:

October 22, 2024

By:

/s/ Christian J. Kelly
Christian J. Kelly
Chief Financial Officer (Principal Financial Officer)

Date:

October 22, 2024