The PGIM Jennison Blend Fund declined 3.22% in the first quarter of 2026 but outperformed the Russell 3000 Index, which fell 4.0%. Stock selection in key sectors helped limit losses.
The fund's performance for the quarter ending March 2026 reflected broader market weakness. An underweight position in information technology and favorable stock picks in financials and consumer discretionary sectors drove the relative outperformance. Top contributors to absolute returns included Exxon Mobil, Shell, Walmart, Tower Semiconductor, and Cheniere Energy. Managers continue to target companies with secular growth prospects expected to last three to five years. The fund focuses on attractively valued firms with strong fundamentals, stable balance sheets, and high-quality profit margins.