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- 19 Aug 22 AST T. Rowe Price Natural Resources Portfolio (Jun 2022 report)
- 26 May 22 AST Advanced Strategies Portfolio (Mar 2022 report)
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AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Long-Term Investments — 84.8% | ||||||
Common Stocks — 52.8% | ||||||
Aerospace & Defense — 0.5% | ||||||
Aerojet Rocketdyne Holdings, Inc.*(a) | 32,406 | $1,275,176 | ||||
Boeing Co. (The)* | 132,249 | 25,325,684 | ||||
BWX Technologies, Inc. | 49,083 | 2,643,610 | ||||
HEICO Corp. (Class A Stock)(a) | 15,466 | 1,961,553 | ||||
Kratos Defense & Security Solutions, Inc.* | 46,755 | 957,542 | ||||
L3Harris Technologies, Inc. | 55,770 | 13,857,172 | ||||
Raytheon Technologies Corp.(a) | 18,921 | 1,874,503 | ||||
Safran SA (France) | 96,285 | 11,335,290 | ||||
Textron, Inc.(a) | 213,097 | 15,850,155 | ||||
TransDigm Group, Inc.* | 5,661 | 3,688,368 | ||||
Triumph Group, Inc.* | 180,554 | 4,564,405 | ||||
83,333,458 | ||||||
Air Freight & Logistics — 0.3% | ||||||
FedEx Corp. | 93,536 | 21,643,295 | ||||
GXO Logistics, Inc.* | 5,786 | 412,773 | ||||
United Parcel Service, Inc. (Class B Stock) | 189,518 | 40,644,031 | ||||
62,700,099 | ||||||
Airlines — 0.1% | ||||||
Allegiant Travel Co.* | 14,860 | 2,413,116 | ||||
Southwest Airlines Co.*(a) | 208,614 | 9,554,521 | ||||
United Airlines Holdings, Inc.*(a) | 105,117 | 4,873,224 | ||||
16,840,861 | ||||||
Auto Components — 0.3% | ||||||
Aptiv PLC* | 16,529 | 1,978,686 | ||||
Autoliv, Inc. (Sweden), SDR | 109,519 | 8,375,844 | ||||
Denso Corp. (Japan) | 156,500 | 9,973,932 | ||||
Gentherm, Inc.* | 35,201 | 2,571,081 | ||||
LCI Industries(a) | 6,821 | 708,088 | ||||
Magna International, Inc. (Canada)(a) | 371,970 | 23,921,391 | ||||
Stanley Electric Co. Ltd. (Japan) | 285,300 | 5,388,234 | ||||
Stoneridge, Inc.*(a) | 50,350 | 1,045,266 | ||||
Sumitomo Rubber Industries Ltd. (Japan) | 337,800 | 3,093,840 | ||||
Visteon Corp.* | 7,552 | 824,150 | ||||
57,880,512 | ||||||
Automobiles — 1.3% | ||||||
Ferrari NV (Italy)(a) | 22,330 | 4,869,950 | ||||
General Motors Co.* | 91,418 | 3,998,623 | ||||
Honda Motor Co. Ltd. (Japan) | 197,600 | 5,593,701 | ||||
Lucid Group, Inc.*(a) | 37,549 | 953,745 | ||||
Rivian Automotive, Inc. (Class A Stock)*(a) | 330,429 | 16,600,753 | ||||
Suzuki Motor Corp. (Japan) | 239,900 | 8,213,402 | ||||
Tesla, Inc.* | 140,266 | 151,150,641 | ||||
Toyota Motor Corp. (Japan) | 1,952,700 | 35,283,739 | ||||
226,664,554 | ||||||
Banks — 2.6% | ||||||
Australia & New Zealand Banking Group Ltd. (Australia) | 551,087 | 11,280,019 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Banks (cont’d.) | ||||||
Bank of America Corp. | 869,491 | $35,840,419 | ||||
BankUnited, Inc.(a) | 98,008 | 4,308,432 | ||||
BNP Paribas SA (France) | 221,513 | 12,640,249 | ||||
Citigroup, Inc. | 496,816 | 26,529,974 | ||||
Citizens Financial Group, Inc. | 69,589 | 3,154,469 | ||||
Close Brothers Group PLC (United Kingdom) | 239,250 | 3,724,769 | ||||
DBS Group Holdings Ltd. (Singapore) | 385,662 | 10,126,001 | ||||
Dime Community Bancshares, Inc. | 12,730 | 440,076 | ||||
DNB Bank ASA (Norway) | 1,154,585 | 26,103,216 | ||||
East West Bancorp, Inc. | 63,812 | 5,042,424 | ||||
Erste Group Bank AG (Austria) | 166,617 | 6,063,215 | ||||
Fifth Third Bancorp(a) | 507,815 | 21,856,358 | ||||
Home BancShares, Inc.(a) | 121,184 | 2,738,758 | ||||
Huntington Bancshares, Inc.(a) | 1,301,622 | 19,029,714 | ||||
ING Groep NV (Netherlands) | 1,947,710 | 20,390,945 | ||||
Intesa Sanpaolo SpA (Italy) | 3,041,669 | 6,960,996 | ||||
JPMorgan Chase & Co. | 352,848 | 48,100,239 | ||||
Lloyds Banking Group PLC (United Kingdom) | 19,581,889 | 12,012,939 | ||||
Mitsubishi UFJ Financial Group, Inc. (Japan) | 1,887,900 | 11,616,074 | ||||
National Bank Holdings Corp. (Class A Stock) | 17,318 | 697,569 | ||||
National Bank of Canada (Canada) | 307,030 | 23,535,324 | ||||
Pacific Premier Bancorp, Inc. | 99,041 | 3,501,099 | ||||
Pinnacle Financial Partners, Inc. | 51,000 | 4,696,080 | ||||
PNC Financial Services Group, Inc. (The) | 34,262 | 6,319,626 | ||||
Popular, Inc. (Puerto Rico) | 55,633 | 4,547,441 | ||||
Seacoast Banking Corp. of Florida | 109,298 | 3,827,616 | ||||
Signature Bank | 39,499 | 11,592,561 | ||||
Standard Chartered PLC (United Kingdom) | 791,335 | 5,249,345 | ||||
Sumitomo Mitsui Trust Holdings, Inc. (Japan) | 224,181 | 7,300,886 | ||||
SVB Financial Group* | 18,978 | 10,617,242 | ||||
Svenska Handelsbanken AB (Sweden) (Class A Stock)(a) | 1,242,368 | 11,422,447 | ||||
United Overseas Bank Ltd. (Singapore) | 832,300 | 19,526,346 | ||||
Webster Financial Corp. | 78,627 | 4,412,547 | ||||
Wells Fargo & Co. | 1,157,600 | 56,097,296 | ||||
Westamerica BanCorp | 20,706 | 1,252,713 | ||||
Western Alliance Bancorp | 48,957 | 4,054,619 | ||||
466,610,043 | ||||||
Beverages — 0.9% | ||||||
Boston Beer Co., Inc. (The) (Class A Stock)*(a) | 3,995 | 1,551,938 | ||||
Coca-Cola Co. (The) | 773,420 | 47,952,040 | ||||
Constellation Brands, Inc. (Class A Stock) | 90,145 | 20,762,196 | ||||
Diageo PLC (United Kingdom) | 405,448 | 20,527,427 | ||||
Keurig Dr. Pepper, Inc.(a) | 460,864 | 17,466,745 | ||||
Kirin Holdings Co. Ltd. (Japan) | 408,500 | 6,104,336 | ||||
Monster Beverage Corp.* | 188,617 | 15,070,498 |
A1
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Beverages (cont’d.) | ||||||
PepsiCo, Inc. | 220,860 | $36,967,547 | ||||
166,402,727 | ||||||
Biotechnology — 0.9% | ||||||
AbbVie, Inc.(a) | 400,332 | 64,897,820 | ||||
ACADIA Pharmaceuticals, Inc.* | 48,721 | 1,180,023 | ||||
Agios Pharmaceuticals, Inc.* | 31,620 | 920,458 | ||||
Alkermes PLC* | 91,961 | 2,419,494 | ||||
Alnylam Pharmaceuticals, Inc.*(a) | 26,433 | 4,316,245 | ||||
Amgen, Inc. | 99,445 | 24,047,790 | ||||
Apellis Pharmaceuticals, Inc.* | 10,962 | 556,979 | ||||
Biogen, Inc.* | 12,026 | 2,532,676 | ||||
BioMarin Pharmaceutical, Inc.* | 35,359 | 2,726,179 | ||||
Blueprint Medicines Corp.*(a) | 18,786 | 1,200,050 | ||||
Denali Therapeutics, Inc.*(a) | 23,508 | 756,252 | ||||
Exact Sciences Corp.*(a) | 22,956 | 1,605,084 | ||||
Exelixis, Inc.* | 128,295 | 2,908,448 | ||||
Fate Therapeutics, Inc.*(a) | 18,270 | 708,328 | ||||
Genmab A/S (Denmark)* | 17,412 | 6,341,988 | ||||
Global Blood Therapeutics, Inc.*(a) | 60,049 | 2,080,097 | ||||
Horizon Therapeutics PLC* | 17,052 | 1,794,041 | ||||
IGM Biosciences, Inc.*(a) | 38,274 | 1,023,064 | ||||
Insmed, Inc.*(a) | 113,956 | 2,677,966 | ||||
Intellia Therapeutics, Inc.* | 8,161 | 593,060 | ||||
Ionis Pharmaceuticals, Inc.*(a) | 41,334 | 1,531,011 | ||||
Iovance Biotherapeutics, Inc.* | 29,476 | 490,775 | ||||
Karuna Therapeutics, Inc.* | 12,058 | 1,528,834 | ||||
Moderna, Inc.*(a) | 42,040 | 7,241,810 | ||||
Neurocrine Biosciences, Inc.* | 45,676 | 4,282,125 | ||||
Novavax, Inc.*(a) | 8,152 | 600,395 | ||||
Regeneron Pharmaceuticals, Inc.* | 12,641 | 8,828,727 | ||||
Rocket Pharmaceuticals, Inc.*(a) | 18,879 | 299,421 | ||||
Scholar Rock Holding Corp.*(a) | 24,360 | 314,000 | ||||
Seagen, Inc.* | 17,782 | 2,561,497 | ||||
TG Therapeutics, Inc.* | 23,264 | 221,241 | ||||
Ultragenyx Pharmaceutical, Inc.* | 47,707 | 3,464,482 | ||||
Vertex Pharmaceuticals, Inc.* | 49,015 | 12,791,445 | ||||
Xencor, Inc.* | 41,535 | 1,108,154 | ||||
170,549,959 | ||||||
Building Products — 0.2% | ||||||
Armstrong World Industries, Inc. | 39,342 | 3,541,174 | ||||
Gibraltar Industries, Inc.* | 51,522 | 2,212,870 | ||||
Insteel Industries, Inc. | 52,984 | 1,959,878 | ||||
ROCKWOOL International A/S (Denmark) (Class B Stock) | 2,038 | 675,015 | ||||
Trane Technologies PLC | 122,419 | 18,693,381 | ||||
Trex Co., Inc.*(a) | 19,245 | 1,257,276 | ||||
28,339,594 | ||||||
Capital Markets — 1.3% | ||||||
Bank of New York Mellon Corp. (The) | 135,963 | 6,747,844 | ||||
Blackstone, Inc. | 83,880 | 10,647,727 | ||||
Bridgepoint Group PLC (United Kingdom), 144A* | 1,317,229 | 6,160,780 | ||||
Cboe Global Markets, Inc. | 45,850 | 5,246,157 | ||||
Charles Schwab Corp. (The) | 342,030 | 28,836,549 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Capital Markets (cont’d.) | ||||||
CME Group, Inc. | 111,700 | $26,568,962 | ||||
Goldman Sachs Group, Inc. (The) | 92,194 | 30,433,239 | ||||
Intercontinental Exchange, Inc. | 164,989 | 21,798,347 | ||||
Invesco Ltd.(a) | 140,039 | 3,229,299 | ||||
Julius Baer Group Ltd. (Switzerland) | 252,306 | 14,606,299 | ||||
KKR & Co., Inc. | 278,736 | 16,297,694 | ||||
Lazard Ltd. (Class A Stock)(a) | 71,664 | 2,472,408 | ||||
Macquarie Group Ltd. (Australia) | 100,361 | 15,100,688 | ||||
MarketAxess Holdings, Inc.(a) | 12,091 | 4,113,358 | ||||
Morgan Stanley(a) | 105,686 | 9,236,956 | ||||
State Street Corp. | 112,544 | 9,804,833 | ||||
Tradeweb Markets, Inc. (Class A Stock) | 53,412 | 4,693,313 | ||||
Virtus Investment Partners, Inc. | 15,329 | 3,678,807 | ||||
XP, Inc. (Brazil) (Class A Stock)*(a) | 282,915 | 8,515,742 | ||||
228,189,002 | ||||||
Chemicals — 1.3% | ||||||
Air Liquide SA (France) | 100,168 | 17,518,483 | ||||
Air Products & Chemicals, Inc. | 82,841 | 20,702,794 | ||||
Akzo Nobel NV (Netherlands) | 176,786 | 15,248,677 | ||||
Albemarle Corp. | 35,069 | 7,755,509 | ||||
Asahi Kasei Corp. (Japan) | 1,167,900 | 10,103,095 | ||||
Axalta Coating Systems Ltd.* | 54,689 | 1,344,256 | ||||
BASF SE (Germany) | 191,878 | 10,930,745 | ||||
CF Industries Holdings, Inc. | 54,703 | 5,637,691 | ||||
Corteva, Inc. | 144,000 | 8,277,120 | ||||
Covestro AG (Germany), 144A | 197,814 | 9,977,504 | ||||
Element Solutions, Inc. | 164,132 | 3,594,491 | ||||
FMC Corp. | 50,444 | 6,636,917 | ||||
Hexpol AB (Sweden) | 35,928 | 349,622 | ||||
International Flavors & Fragrances, Inc. | 59,664 | 7,835,673 | ||||
Johnson Matthey PLC (United Kingdom)(a) | 431,111 | 10,640,625 | ||||
Koninklijke DSM NV (Netherlands) | 3,114 | 557,720 | ||||
Linde PLC (United Kingdom)(a) | 136,232 | 43,516,588 | ||||
Minerals Technologies, Inc. | 32,441 | 2,145,972 | ||||
Nutrien Ltd. (Canada) | 44,855 | 4,664,471 | ||||
Quaker Chemical Corp.(a) | 9,826 | 1,698,031 | ||||
RPM International, Inc.(a) | 160,906 | 13,104,185 | ||||
Sherwin-Williams Co. (The) | 100,789 | 25,158,950 | ||||
Shin-Etsu Chemical Co. Ltd. (Japan) | 3,000 | 457,591 | ||||
Sika AG (Switzerland) | 1,908 | 630,947 | ||||
Sociedad Quimica y Minera de Chile SA (Chile), ADR(a) | 24,834 | 2,125,790 | ||||
Tosoh Corp. (Japan) | 108,000 | 1,595,760 | ||||
Umicore SA (Belgium) | 206,795 | 8,911,864 | ||||
241,121,071 | ||||||
Commercial Services & Supplies — 0.1% | ||||||
HNI Corp. | 73,690 | 2,730,215 | ||||
IAA, Inc.* | 26,553 | 1,015,652 | ||||
KAR Auction Services, Inc.*(a) | 183,922 | 3,319,792 | ||||
MSA Safety, Inc.(a) | 11,084 | 1,470,847 | ||||
Stericycle, Inc.*(a) | 44,193 | 2,603,852 | ||||
Waste Connections, Inc. | 115,175 | 16,089,947 | ||||
27,230,305 |
A2
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Communications Equipment — 0.4% | ||||||
Bluescape Opportunities Acquisition Corp., UTS* | 13,859 | $138,729 | ||||
Ciena Corp.* | 25,100 | 1,521,813 | ||||
Cisco Systems, Inc. | 548,318 | 30,574,212 | ||||
Harmonic, Inc.* | 60,901 | 565,770 | ||||
Motorola Solutions, Inc. | 71,832 | 17,397,710 | ||||
Telefonaktiebolaget LM Ericsson (Sweden) (Class B Stock)(a) | 2,077,717 | 18,937,855 | ||||
69,136,089 | ||||||
Construction & Engineering — 0.1% | ||||||
Quanta Services, Inc.(a) | 83,423 | 10,979,301 | ||||
Valmont Industries, Inc. | 9,501 | 2,266,938 | ||||
WillScot Mobile Mini Holdings Corp.* | 98,207 | 3,842,840 | ||||
17,089,079 | ||||||
Construction Materials — 0.1% | ||||||
Martin Marietta Materials, Inc. | 6,639 | 2,555,285 | ||||
Vulcan Materials Co. | 51,268 | 9,417,931 | ||||
11,973,216 | ||||||
Consumer Finance — 0.0% | ||||||
Ally Financial, Inc. | 31,770 | 1,381,360 | ||||
PRA Group, Inc.* | 16,322 | 735,796 | ||||
PROG Holdings, Inc.*(a) | 11,937 | 343,427 | ||||
SLM Corp. | 134,226 | 2,464,389 | ||||
SoFi Technologies, Inc.*(a) | 82,718 | 781,685 | ||||
Upstart Holdings, Inc.*(a) | 9,118 | 994,683 | ||||
6,701,340 | ||||||
Containers & Packaging — 0.4% | ||||||
Amcor PLC, CDI | 716,993 | 8,121,362 | ||||
Ardagh Metal Packaging SA* | 21,071 | 171,307 | ||||
Avery Dennison Corp. | 31,901 | 5,549,817 | ||||
Ball Corp.(a) | 145,353 | 13,081,770 | ||||
Graphic Packaging Holding Co. | 149,695 | 2,999,888 | ||||
International Paper Co. | 154,744 | 7,141,436 | ||||
Mayr Melnhof Karton AG (Austria) | 3,483 | 620,839 | ||||
Myers Industries, Inc. | 175,152 | 3,783,283 | ||||
Packaging Corp. of America | 61,118 | 9,541,131 | ||||
Sealed Air Corp.(a) | 212,717 | 14,243,530 | ||||
Verallia SA (France), 144A | 32,034 | 763,444 | ||||
Westrock Co. | 107,422 | 5,052,057 | ||||
71,069,864 | ||||||
Diversified Consumer Services — 0.1% | ||||||
Bright Horizons Family Solutions, Inc.*(a) | 28,258 | 3,749,554 | ||||
Service Corp. International | 64,457 | 4,242,560 | ||||
Terminix Global Holdings, Inc.* | 69,549 | 3,173,521 | ||||
11,165,635 | ||||||
Diversified Financial Services — 0.8% | ||||||
Apollo Global Management, Inc.(a) | 107,168 | 6,643,344 | ||||
Berkshire Hathaway, Inc. (Class B Stock)* | 242,893 | 85,719,369 | ||||
Challenger Ltd. (Australia) | 1,079,539 | 5,392,889 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Diversified Financial Services (cont’d.) | ||||||
Element Fleet Management Corp. (Canada)(a) | 1,401,717 | $13,566,992 | ||||
Equitable Holdings, Inc. | 534,529 | 16,522,291 | ||||
Mitsubishi HC Capital, Inc. (Japan) | 1,059,000 | 4,910,452 | ||||
Voya Financial, Inc.(a) | 198,916 | 13,198,077 | ||||
145,953,414 | ||||||
Diversified Telecommunication Services — 0.4% | ||||||
AT&T, Inc. | 342,838 | 8,101,262 | ||||
Cellnex Telecom SA (Spain), 144A | 16,538 | 795,020 | ||||
KT Corp. (South Korea) | 241,717 | 7,096,207 | ||||
Liberty Global PLC (United Kingdom) (Class C Stock)*(a) | 108,321 | 2,806,597 | ||||
Nippon Telegraph & Telephone Corp. (Japan) | 1,452,400 | 42,202,667 | ||||
Verizon Communications, Inc. | 252,723 | 12,873,709 | ||||
73,875,462 | ||||||
Electric Utilities — 0.5% | ||||||
Enel SpA (Italy) | 74,062 | 494,637 | ||||
Iberdrola SA (Spain) | 53,991 | 589,836 | ||||
IDACORP, Inc. | 23,347 | 2,693,310 | ||||
MGE Energy, Inc.(a) | 6,090 | 485,921 | ||||
NextEra Energy, Inc. | 533,939 | 45,229,973 | ||||
OGE Energy Corp. | 52,465 | 2,139,523 | ||||
PG&E Corp.*(a) | 95,006 | 1,134,372 | ||||
Southern Co. (The)(a) | 361,523 | 26,214,033 | ||||
Xcel Energy, Inc. | 166,473 | 12,014,356 | ||||
90,995,961 | ||||||
Electrical Equipment — 0.5% | ||||||
ABB Ltd. (Switzerland) | 629,706 | 20,404,528 | ||||
Generac Holdings, Inc.* | 35,709 | 10,614,857 | ||||
Hubbell, Inc. | 17,244 | 3,168,930 | ||||
Legrand SA (France) | 116,031 | 11,029,060 | ||||
Mitsubishi Electric Corp. (Japan) | 1,610,200 | 18,518,174 | ||||
Plug Power, Inc.*(a) | 118,634 | 3,394,119 | ||||
Prysmian SpA (Italy) | 421,228 | 14,318,633 | ||||
Schneider Electric SE | 5,857 | 983,394 | ||||
Sensata Technologies Holding PLC*(a) | 59,440 | 3,022,524 | ||||
Shoals Technologies Group, Inc. (Class A Stock)*(a) | 130,770 | 2,228,321 | ||||
Sunrun, Inc.*(a) | 136,344 | 4,140,767 | ||||
Thermon Group Holdings, Inc.* | 36,906 | 597,877 | ||||
92,421,184 | ||||||
Electronic Equipment, Instruments & Components — 0.4% | ||||||
Amphenol Corp. (Class A Stock) | 4,403 | 331,766 | ||||
Belden, Inc. | 80,207 | 4,443,468 | ||||
Cognex Corp. | 62,363 | 4,811,305 | ||||
Coherent, Inc.* | 2,680 | 732,605 | ||||
Hamamatsu Photonics KK (Japan) | 210,900 | 11,254,007 | ||||
Largan Precision Co. Ltd. (Taiwan) | 57,000 | 3,739,174 | ||||
Littelfuse, Inc. | 17,049 | 4,252,191 | ||||
Murata Manufacturing Co. Ltd. (Japan) | 233,800 | 15,451,923 | ||||
National Instruments Corp. | 68,538 | 2,781,957 | ||||
Omron Corp. (Japan) | 106,700 | 7,129,725 |
A3
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Electronic Equipment, Instruments & Components (cont’d.) | ||||||
Teledyne Technologies, Inc.*(a) | 35,605 | $16,827,991 | ||||
Trimble, Inc.* | 3,475 | 250,686 | ||||
72,006,798 | ||||||
Energy Equipment & Services — 0.3% | ||||||
Cactus, Inc. (Class A Stock) | 16,427 | 932,068 | ||||
ChampionX Corp.* | 31,866 | 780,080 | ||||
Enerflex Ltd. (Canada) | 61,410 | 393,468 | ||||
Halliburton Co.(a) | 583,502 | 22,097,221 | ||||
NexTier Oilfield Solutions, Inc.* | 484,227 | 4,474,257 | ||||
TechnipFMC PLC (United Kingdom)* | 698,139 | 5,410,577 | ||||
Tidewater, Inc.*(a) | 81,085 | 1,762,788 | ||||
Worley Ltd. (Australia) | 1,285,723 | 12,325,111 | ||||
48,175,570 | ||||||
Entertainment — 0.5% | ||||||
Activision Blizzard, Inc. | 76,600 | 6,136,426 | ||||
AMC Entertainment Holdings, Inc. (Class A Stock)*(a) | 38,563 | 950,192 | ||||
Electronic Arts, Inc. | 67,654 | 8,558,907 | ||||
Liberty Media Corp.-Liberty Formula One (Class C Stock) *(a) | 85,509 | 5,971,949 | ||||
Netflix, Inc.* | 85,554 | 32,047,673 | ||||
Roku, Inc.*(a) | 14,007 | 1,754,657 | ||||
Walt Disney Co. (The)* | 183,292 | 25,140,331 | ||||
Warner Music Group Corp. (Class A Stock)(a) | 39,812 | 1,506,884 | ||||
Zynga, Inc. (Class A Stock)* | 214,872 | 1,985,417 | ||||
84,052,436 | ||||||
Equity Real Estate Investment Trusts (REITs) — 2.0% | ||||||
Acadia Realty Trust | 270,063 | 5,852,265 | ||||
Alexandria Real Estate Equities, Inc. | 34,905 | 7,024,631 | ||||
American Campus Communities, Inc. | 51,759 | 2,896,951 | ||||
American Tower Corp. | 45,883 | 11,526,727 | ||||
Apartment Income REIT Corp. | 26,354 | 1,408,885 | ||||
Apple Hospitality REIT, Inc. | 159,761 | 2,870,905 | ||||
AvalonBay Communities, Inc. | 46,737 | 11,608,069 | ||||
Big Yellow Group PLC (United Kingdom) | 20,912 | 424,261 | ||||
Camden Property Trust | 87,166 | 14,486,989 | ||||
Canadian Apartment Properties REIT (Canada) | 14,827 | 636,298 | ||||
CapitaLand Integrated Commercial Trust (Singapore) | 405,400 | 670,750 | ||||
CubeSmart | 179,048 | 9,315,867 | ||||
Daiwa House Logistics Trust (Singapore)* | 597,100 | 372,462 | ||||
Daiwa Office Investment Corp. (Japan) | 136 | 844,607 | ||||
Derwent London PLC (United Kingdom) | 25,084 | 1,056,691 | ||||
Digital Core REIT Management Pte Ltd. (Singapore)* | 984,000 | 1,092,079 | ||||
Douglas Emmett, Inc. | 172,839 | 5,776,279 | ||||
EastGroup Properties, Inc. | 34,215 | 6,955,225 | ||||
Equinix, Inc. | 33,535 | 24,870,227 | ||||
Equity LifeStyle Properties, Inc. | 173,350 | 13,257,808 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Equity Real Estate Investment Trusts (REITs) (cont’d.) | ||||||
Equity Residential | 80,780 | $7,263,738 | ||||
Essex Property Trust, Inc. | 46,685 | 16,128,734 | ||||
Extra Space Storage, Inc. | 19,300 | 3,968,080 | ||||
Federal Realty Investment Trust | 8,725 | 1,065,061 | ||||
First Industrial Realty Trust, Inc. | 49,965 | 3,093,333 | ||||
Gecina SA (France) | 2,970 | 374,488 | ||||
Goodman Group (Australia) | 71,902 | 1,220,648 | ||||
Great Portland Estates PLC (United Kingdom) | 1,150,695 | 10,851,918 | ||||
Healthcare Realty Trust, Inc.(a) | 87,111 | 2,393,810 | ||||
Healthcare Trust of America, Inc. (Class A Stock) | 37,943 | 1,189,134 | ||||
Host Hotels & Resorts, Inc.(a) | 65,758 | 1,277,678 | ||||
Industrial & Infrastructure Fund Investment Corp. (Japan) | 551 | 835,539 | ||||
Inmobiliaria Colonial Socimi SA (Spain) | 59,800 | 543,178 | ||||
Invitation Homes, Inc. | 54,811 | 2,202,306 | ||||
JBG SMITH Properties | 83,069 | 2,427,276 | ||||
Kilroy Realty Corp.(a) | 27,261 | 2,083,286 | ||||
Kimco Realty Corp. | 97,154 | 2,399,704 | ||||
Mitsui Fudosan Logistics Park, Inc. (Japan) | 170 | 802,654 | ||||
Pebblebrook Hotel Trust(a) | 92,032 | 2,252,943 | ||||
PotlatchDeltic Corp. | 67,848 | 3,577,625 | ||||
Prologis, Inc. | 214,458 | 34,630,678 | ||||
PS Business Parks, Inc. | 28,414 | 4,775,825 | ||||
Public Storage | 59,712 | 23,304,399 | ||||
Rayonier, Inc. | 61,531 | 2,530,155 | ||||
Regency Centers Corp. | 34,662 | 2,472,787 | ||||
Rexford Industrial Realty, Inc. | 159,899 | 11,926,866 | ||||
Saul Centers, Inc. | 34,348 | 1,810,140 | ||||
SBA Communications Corp. | 69,664 | 23,971,382 | ||||
Scentre Group (Australia) | 5,088,241 | 11,547,300 | ||||
Simon Property Group, Inc. | 48,369 | 6,363,426 | ||||
SL Green Realty Corp.(a) | 17,145 | 1,391,831 | ||||
Summit Industrial Income REIT (Canada) | 94,986 | 1,673,073 | ||||
Sun Communities, Inc.(a) | 31,075 | 5,447,137 | ||||
Terreno Realty Corp. | 100,748 | 7,460,389 | ||||
UNITE Group PLC (The) (United Kingdom) | 47,031 | 713,101 | ||||
Ventas, Inc. | 10,773 | 665,340 | ||||
VICI Properties, Inc. | 33,739 | 960,212 | ||||
Vornado Realty Trust | 8,059 | 365,234 | ||||
Welltower, Inc. | 241,947 | 23,260,785 | ||||
Weyerhaeuser Co. | 28,256 | 1,070,902 | ||||
WP Carey, Inc. | 15,863 | 1,282,365 | ||||
356,522,436 | ||||||
Food & Staples Retailing — 0.6% | ||||||
Casey’s General Stores, Inc. | 18,514 | 3,668,919 | ||||
Costco Wholesale Corp. | 73,418 | 42,277,755 | ||||
Seven & i Holdings Co. Ltd. (Japan) | 434,500 | 20,662,402 | ||||
Sprouts Farmers Market, Inc.* | 79,379 | 2,538,541 | ||||
Walmart, Inc. | 195,358 | 29,092,713 | ||||
Welcia Holdings Co. Ltd. (Japan) | 197,400 | 4,855,324 | ||||
103,095,654 |
A4
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Food Products — 0.8% | ||||||
Bakkafrost P/F (Faroe Islands) | 11,926 | $802,732 | ||||
Barry Callebaut AG (Switzerland) | 5,036 | 11,794,065 | ||||
Bunge Ltd. | 46,005 | 5,097,814 | ||||
Conagra Brands, Inc.(a) | 134,822 | 4,525,975 | ||||
Darling Ingredients, Inc.* | 111,581 | 8,968,881 | ||||
Freshpet, Inc.*(a) | 11,015 | 1,130,580 | ||||
Mondelez International, Inc. (Class A Stock) | 361,548 | 22,697,983 | ||||
Mowi ASA (Norway), ADR(a) | 27,313 | 735,129 | ||||
Mriya Agro Holding PLC (Ukraine)*^ | 1,223 | 16 | ||||
Mriya Recovery Certificates (Ukraine)*^ | 1,359,527 | 15,040 | ||||
Nestle SA (Switzerland) | 584,475 | 75,886,415 | ||||
Post Holdings, Inc.*(a) | 33,130 | 2,294,584 | ||||
Sanderson Farms, Inc. | 1,839 | 344,794 | ||||
TreeHouse Foods, Inc.*(a) | 63,459 | 2,047,187 | ||||
Wilmar International Ltd. (China) | 4,783,200 | 16,578,285 | ||||
152,919,480 | ||||||
Gas Utilities — 0.1% | ||||||
Beijing Enterprises Holdings Ltd. (China) | 1,225,000 | 3,869,886 | ||||
Chesapeake Utilities Corp. | 6,248 | 860,725 | ||||
National Fuel Gas Co.(a) | 24,360 | 1,673,532 | ||||
ONE Gas, Inc.(a) | 18,755 | 1,654,941 | ||||
Southwest Gas Holdings, Inc.(a) | 28,776 | 2,252,873 | ||||
10,311,957 | ||||||
Health Care Equipment & Supplies — 1.3% | ||||||
Abbott Laboratories | 174,835 | 20,693,471 | ||||
Alcon, Inc. (Switzerland) | 82,450 | 6,531,060 | ||||
Atrion Corp. | 2,923 | 2,084,099 | ||||
Avanos Medical, Inc.* | 86,845 | 2,909,308 | ||||
Becton, Dickinson & Co.(a) | 118,370 | 31,486,420 | ||||
Cooper Cos., Inc. (The) | 14,405 | 6,015,384 | ||||
Dexcom, Inc.*(a) | 32,263 | 16,505,751 | ||||
Elekta AB (Sweden) (Class B Stock)(a) | 750,590 | 5,908,282 | ||||
Envista Holdings Corp.*(a) | 73,505 | 3,580,429 | ||||
Hologic, Inc.* | 125,967 | 9,676,785 | ||||
ICU Medical, Inc.* | 7,308 | 1,627,053 | ||||
Insulet Corp.* | 5,608 | 1,493,915 | ||||
Intuitive Surgical, Inc.* | 134,561 | 40,594,362 | ||||
Koninklijke Philips NV (Netherlands) | 519,722 | 15,858,414 | ||||
Masimo Corp.* | 3,410 | 496,291 | ||||
Medtronic PLC | 67,351 | 7,472,593 | ||||
Nevro Corp.* | 10,597 | 766,481 | ||||
Novocure Ltd.*(a) | 10,597 | 877,961 | ||||
Penumbra, Inc.*(a) | 16,200 | 3,598,506 | ||||
Quidel Corp.*(a) | 7,476 | 840,751 | ||||
Shockwave Medical, Inc.* | 10,597 | 2,197,394 | ||||
Siemens Healthineers AG (Germany), 144A | 286,920 | 17,786,040 | ||||
STERIS PLC | 27,140 | 6,561,638 | ||||
Stryker Corp. | 85,015 | 22,728,760 | ||||
Teleflex, Inc. | 7,881 | 2,796,415 | ||||
231,087,563 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Health Care Providers & Services — 1.2% | ||||||
Acadia Healthcare Co., Inc.* | 78,684 | $5,156,163 | ||||
Amedisys, Inc.*(a) | 6,953 | 1,197,932 | ||||
Anthem, Inc. | 52,261 | 25,671,648 | ||||
Centene Corp.* | 170,853 | 14,384,114 | ||||
Cigna Corp. | 39,724 | 9,518,268 | ||||
CVS Health Corp. | 137,741 | 13,940,767 | ||||
Fresenius SE & Co. KGaA (Germany) | 366,493 | 13,465,599 | ||||
Guardant Health, Inc.* | 21,327 | 1,412,700 | ||||
HCA Healthcare, Inc. | 51,337 | 12,866,079 | ||||
Humana, Inc. | 37,506 | 16,321,486 | ||||
McKesson Corp.(a) | 12,081 | 3,698,357 | ||||
Molina Healthcare, Inc.* | 28,476 | 9,499,309 | ||||
Pennant Group, Inc. (The)* | 35,975 | 670,214 | ||||
Select Medical Holdings Corp. | 143,191 | 3,435,152 | ||||
U.S. Physical Therapy, Inc.(a) | 4,872 | 484,520 | ||||
UnitedHealth Group, Inc.(a) | 162,890 | 83,069,013 | ||||
214,791,321 | ||||||
Health Care Technology — 0.1% | ||||||
Multiplan Corp.*(a) | 301,362 | 1,410,374 | ||||
Phreesia, Inc.* | 36,784 | 969,626 | ||||
Teladoc Health, Inc.*(a) | 31,534 | 2,274,547 | ||||
Veeva Systems, Inc. (Class A Stock)*(a) | 30,175 | 6,410,981 | ||||
11,065,528 | ||||||
Hotels, Restaurants & Leisure — 1.0% | ||||||
Airbnb, Inc. (Class A Stock)*(a) | 40,501 | 6,956,452 | ||||
Aramark | 69,424 | 2,610,342 | ||||
Booking Holdings, Inc.* | 8,926 | 20,962,265 | ||||
Chipotle Mexican Grill, Inc.* | 13,043 | 20,634,417 | ||||
Choice Hotels International, Inc.(a) | 31,060 | 4,403,066 | ||||
Compass Group PLC (United Kingdom) | 868,766 | 18,699,292 | ||||
DraftKings, Inc. (Class A Stock)*(a) | 87,341 | 1,700,529 | ||||
Hilton Worldwide Holdings, Inc.* | 91,725 | 13,918,352 | ||||
Huazhu Group Ltd. (China), ADR(a) | 13,293 | 438,536 | ||||
InterContinental Hotels Group PLC (United Kingdom) | 11,869 | 805,337 | ||||
Jack in the Box, Inc.(a) | 27,738 | 2,591,007 | ||||
Kyoritsu Maintenance Co. Ltd. (Japan) | 23,600 | 888,044 | ||||
Las Vegas Sands Corp.*(a) | 170,994 | 6,646,537 | ||||
Marriott International, Inc. (Class A Stock)*(a) | 88,812 | 15,608,709 | ||||
Marriott Vacations Worldwide Corp. | 12,180 | 1,920,786 | ||||
McDonald’s Corp. | 93,038 | 23,006,437 | ||||
MGM Resorts International | 193,220 | 8,103,647 | ||||
Papa John’s International, Inc. | 14,251 | 1,500,345 | ||||
Planet Fitness, Inc. (Class A Stock)* | 16,371 | 1,383,022 | ||||
Red Robin Gourmet Burgers, Inc.* | 148,744 | 2,507,824 | ||||
Starbucks Corp. | 244,420 | 22,234,887 | ||||
Vail Resorts, Inc. | 10,597 | 2,758,081 | ||||
Whitbread PLC (United Kingdom)* | 14,121 | 526,305 | ||||
Wingstop, Inc.(a) | 9,135 | 1,071,992 | ||||
Wynn Resorts Ltd.*(a) | 56,629 | 4,515,596 | ||||
186,391,807 |
A5
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Household Durables — 0.3% | ||||||
Meritage Homes Corp.* | 38,977 | $3,088,148 | ||||
NVR, Inc.* | 1,769 | 7,902,601 | ||||
Panasonic Holdings Corp. (Japan) | 1,335,800 | 12,949,899 | ||||
Persimmon PLC (United Kingdom) | 407,227 | 11,450,858 | ||||
Sony Group Corp. (Japan) | 186,800 | 19,234,096 | ||||
Tempur Sealy International, Inc.(a) | 81,120 | 2,264,870 | ||||
56,890,472 | ||||||
Household Products — 0.3% | ||||||
Kimberly-Clark Corp. | 52,444 | 6,459,003 | ||||
Procter & Gamble Co. (The) | 352,164 | 53,810,659 | ||||
60,269,662 | ||||||
Independent Power & Renewable Electricity Producers — 0.0% | ||||||
Electric Power Development Co. Ltd. (Japan) | 378,400 | 5,411,379 | ||||
Vistra Corp. | 61,388 | 1,427,271 | ||||
6,838,650 | ||||||
Industrial Conglomerates — 1.0% | ||||||
DCC PLC (United Kingdom) | 131,026 | 10,222,126 | ||||
General Electric Co. | 557,097 | 50,974,375 | ||||
Honeywell International, Inc. | 189,635 | 36,899,178 | ||||
Melrose Industries PLC (United Kingdom) | 6,992,757 | 11,337,754 | ||||
Roper Technologies, Inc.(a) | 54,075 | 25,535,837 | ||||
Siemens AG (Germany) | 341,505 | 47,087,056 | ||||
182,056,326 | ||||||
Insurance — 2.1% | ||||||
AIA Group Ltd. (Hong Kong) | 632,200 | 6,600,362 | ||||
American International Group, Inc. | 505,603 | 31,736,700 | ||||
Arch Capital Group Ltd.* | 42,874 | 2,075,959 | ||||
Assurant, Inc. | 68,821 | 12,513,723 | ||||
AXA SA (France) | 1,160,330 | 33,908,394 | ||||
Axis Capital Holdings Ltd. | 85,045 | 5,142,671 | ||||
Chubb Ltd. | 144,540 | 30,917,106 | ||||
CNA Financial Corp. | 10,840 | 527,041 | ||||
Definity Financial Corp. (Canada)(a) | 114,914 | 2,935,011 | ||||
Direct Line Insurance Group PLC (United Kingdom) | 1,862,758 | 6,734,456 | ||||
Fidelity National Financial, Inc. | 41,778 | 2,040,438 | ||||
First American Financial Corp. | 40,357 | 2,615,941 | ||||
Hanover Insurance Group, Inc. (The) | 13,086 | 1,956,619 | ||||
Hartford Financial Services Group, Inc. (The) | 272,947 | 19,600,324 | ||||
Kemper Corp. | 44,945 | 2,541,190 | ||||
Manulife Financial Corp. (Canada) | 641,100 | 13,671,740 | ||||
Markel Corp.* | 1,604 | 2,366,285 | ||||
Marsh & McLennan Cos., Inc. | 81,277 | 13,851,226 | ||||
MetLife, Inc. | 222,515 | 15,638,354 | ||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Germany) | 116,842 | 31,256,180 | ||||
PICC Property & Casualty Co. Ltd. (China) (Class H Stock) | 10,310,000 | 10,481,558 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Insurance (cont’d.) | ||||||
Ping An Insurance Group Co. of China Ltd. (China) (Class H Stock) | 771,500 | $5,424,079 | ||||
RenaissanceRe Holdings Ltd. (Bermuda) | 117,667 | 18,651,396 | ||||
Sampo OYJ (Finland) (Class A Stock) | 437,031 | 21,365,047 | ||||
Selective Insurance Group, Inc.(a) | 51,644 | 4,614,908 | ||||
Storebrand ASA (Norway) | 1,589,731 | 15,886,394 | ||||
Sun Life Financial, Inc. (Canada) | 453,273 | 25,307,728 | ||||
Tokio Marine Holdings, Inc. (Japan) | 341,200 | 19,798,454 | ||||
Zurich Insurance Group AG (Switzerland) | 47,853 | 23,568,093 | ||||
383,727,377 | ||||||
Interactive Media & Services — 2.3% | ||||||
Alphabet, Inc. (Class A Stock)* | 38,199 | 106,244,789 | ||||
Alphabet, Inc. (Class C Stock)* | 62,505 | 174,575,840 | ||||
IAC/InterActiveCorp*(a) | 23,508 | 2,357,382 | ||||
Meta Platforms, Inc. (Class A Stock)*(a) | 430,617 | 95,751,996 | ||||
NAVER Corp. (South Korea) | 40,936 | 11,424,553 | ||||
Pinterest, Inc. (Class A Stock)* | 70,532 | 1,735,793 | ||||
Snap, Inc. (Class A Stock)*(a) | 132,643 | 4,773,822 | ||||
Tencent Holdings Ltd. (China) | 106,900 | 4,988,064 | ||||
Vimeo, Inc.*(a) | 38,164 | 453,388 | ||||
Z Holdings Corp. (Japan) | 1,612,700 | 7,033,438 | ||||
ZoomInfo Technologies, Inc.* | 15,500 | 925,970 | ||||
410,265,035 | ||||||
Internet & Direct Marketing Retail — 1.5% | ||||||
Alibaba Group Holding Ltd. (China), ADR*(a) | 29,689 | 3,230,163 | ||||
Amazon.com, Inc.*(a) | 72,410 | 236,052,980 | ||||
ASOS PLC (United Kingdom)* | 314,937 | 6,620,315 | ||||
Coupang, Inc. (South Korea)*(a) | 92,033 | 1,627,143 | ||||
DoorDash, Inc. (Class A Stock)*(a) | 18,149 | 2,126,881 | ||||
JD.com, Inc. (China) (Class A Stock)* | 5,090 | 146,771 | ||||
RealReal, Inc. (The)*(a) | 366,322 | 2,659,498 | ||||
THG PLC (United Kingdom)* | 578,211 | 703,990 | ||||
Wayfair, Inc. (Class A Stock)*(a) | 15,734 | 1,743,013 | ||||
Zalando SE (Germany), 144A* | 195,857 | 9,913,451 | ||||
264,824,205 | ||||||
IT Services — 2.2% | ||||||
Accenture PLC (Class A Stock) | 155,912 | 52,578,204 | ||||
Adyen NV (Netherlands), 144A* | 3,048 | 6,036,983 | ||||
Affirm Holdings, Inc.*(a) | 52,075 | 2,410,031 | ||||
Amadeus IT Group SA (Spain)* | 129,323 | 8,433,253 | ||||
Block, Inc.* | 55,992 | 7,592,515 | ||||
Cloudflare, Inc. (Class A Stock)* | 22,234 | 2,661,410 | ||||
Cognizant Technology Solutions Corp. (Class A Stock) | 101,965 | 9,143,201 | ||||
Euronet Worldwide, Inc.* | 25,831 | 3,361,905 | ||||
Fidelity National Information Services, Inc. | 215,100 | 21,600,342 | ||||
Fiserv, Inc.* | 421,388 | 42,728,743 | ||||
FleetCor Technologies, Inc.* | 98,312 | 24,485,587 | ||||
Global Payments, Inc. | 182,024 | 24,908,164 |
A6
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
IT Services (cont’d.) | ||||||
GoDaddy, Inc. (Class A Stock)* | 25,380 | $2,124,306 | ||||
Mastercard, Inc. (Class A Stock) | 133,927 | 47,862,831 | ||||
MongoDB, Inc.* | 11,693 | 5,186,898 | ||||
NTT Data Corp. (Japan) | 1,374,000 | 26,990,332 | ||||
Okta, Inc.* | 15,419 | 2,327,652 | ||||
PayPal Holdings, Inc.* | 49,096 | 5,677,952 | ||||
Snowflake, Inc. (Class A Stock)* | 30,766 | 7,049,413 | ||||
Twilio, Inc. (Class A Stock)* | 25,207 | 4,154,366 | ||||
VeriSign, Inc.* | 59,169 | 13,162,736 | ||||
Visa, Inc. (Class A Stock)(a) | 307,819 | 68,265,019 | ||||
WEX, Inc.* | 12,817 | 2,287,194 | ||||
391,029,037 | ||||||
Leisure Products — 0.0% | ||||||
Mattel, Inc.* | 72,960 | 1,620,442 | ||||
Peloton Interactive, Inc. (Class A Stock)*(a) | 235,488 | 6,221,593 | ||||
7,842,035 | ||||||
Life Sciences Tools & Services — 0.7% | ||||||
Adaptive Biotechnologies Corp.* | 52,026 | 722,121 | ||||
Agilent Technologies, Inc. | 140,314 | 18,567,751 | ||||
Avantor, Inc.*(a) | 112,163 | 3,793,353 | ||||
Bruker Corp.(a) | 59,659 | 3,836,074 | ||||
Danaher Corp. | 120,295 | 35,286,132 | ||||
Evotec SE (Germany)* | 216,673 | 6,381,118 | ||||
Illumina, Inc.*(a) | 12,900 | 4,507,260 | ||||
Repligen Corp.*(a) | 7,552 | 1,420,456 | ||||
Thermo Fisher Scientific, Inc.(a) | 81,672 | 48,239,567 | ||||
West Pharmaceutical Services, Inc. | 12,500 | 5,133,875 | ||||
127,887,707 | ||||||
Machinery — 0.9% | ||||||
AGCO Corp.(a) | 28,910 | 4,221,727 | ||||
Alamo Group, Inc. | 8,790 | 1,263,914 | ||||
Alfa Laval AB (Sweden) | 23,612 | 808,938 | ||||
Caterpillar, Inc. | 19,631 | 4,374,179 | ||||
Chart Industries, Inc.*(a) | 7,860 | 1,350,112 | ||||
Colfax Corp.*(a) | 39,238 | 1,561,280 | ||||
Cummins, Inc. | 95,776 | 19,644,615 | ||||
Deere & Co. | 2,323 | 965,114 | ||||
Epiroc AB (Sweden) (Class A Stock) | 163,311 | 3,482,626 | ||||
Epiroc AB (Sweden) (Class B Stock) | 53,494 | 964,660 | ||||
Fortive Corp. | 161,934 | 9,866,639 | ||||
Graco, Inc. | 16,200 | 1,129,464 | ||||
Helios Technologies, Inc. | 42,478 | 3,408,860 | ||||
Hillenbrand, Inc. | 25,335 | 1,119,047 | ||||
Ingersoll Rand, Inc.(a) | 311,822 | 15,700,238 | ||||
KION Group AG (Germany) | 199,969 | 13,210,192 | ||||
Knorr-Bremse AG (Germany) | 66,892 | 5,131,107 | ||||
Metso Outotec OYJ (Finland) | 243,234 | 2,053,554 | ||||
Middleby Corp. (The)* | 28,388 | 4,653,929 | ||||
Mueller Water Products, Inc. (Class A Stock) | 246,893 | 3,189,858 | ||||
Otis Worldwide Corp. | 137,964 | 10,616,330 | ||||
PACCAR, Inc. | 234,256 | 20,630,926 | ||||
Parker-Hannifin Corp. | 37,067 | 10,518,132 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Machinery (cont’d.) | ||||||
Sandvik AB (Sweden) | 165,396 | $3,512,413 | ||||
SMC Corp. (Japan) | 11,900 | 6,657,065 | ||||
THK Co. Ltd. (Japan) | 246,400 | 5,434,018 | ||||
Timken Co. (The)(a) | 15,713 | 953,779 | ||||
Toro Co. (The) | 19,976 | 1,707,748 | ||||
Weir Group PLC (The) (United Kingdom)(a) | 139,635 | 2,986,041 | ||||
161,116,505 | ||||||
Media — 0.6% | ||||||
Cable One, Inc.(a) | 2,720 | 3,982,733 | ||||
Charter Communications, Inc. (Class A Stock)*(a) | 62,591 | 34,144,642 | ||||
Comcast Corp. (Class A Stock) | 516,017 | 24,159,916 | ||||
CyberAgent, Inc. (Japan) | 1,065,500 | 13,217,119 | ||||
Liberty Broadband Corp. (Class C Stock)* | 85,221 | 11,532,106 | ||||
Stroeer SE & Co. KGaA (Germany) | 95,494 | 6,589,611 | ||||
WPP PLC (United Kingdom) | 1,258,224 | 16,512,782 | ||||
110,138,909 | ||||||
Metals & Mining — 1.1% | ||||||
Alrosa PJSC (Russia)^ | 1,452,310 | 2 | ||||
Anglo American PLC (South Africa) | 13,190 | 692,507 | ||||
Antofagasta PLC (Chile) | 770,058 | 16,793,935 | ||||
BHP Group Ltd. (Australia) (XASX) | 613,006 | 23,472,457 | ||||
BHP Group Ltd. (Australia) (XLON) | 660,395 | 25,610,323 | ||||
Boliden AB (Sweden) | 157,376 | 7,940,083 | ||||
Carpenter Technology Corp. | 60,170 | 2,525,937 | ||||
Constellium SE* | 64,686 | 1,164,348 | ||||
ERO Copper Corp. (Brazil)* | 26,249 | 384,449 | ||||
Franco-Nevada Corp. (Canada) | 13,309 | 2,117,900 | ||||
Granges AB (Sweden) | 107,170 | 1,050,641 | ||||
Grupo Mexico SAB de CV (Mexico) (Class B Stock) | 385,334 | 2,300,574 | ||||
IGO Ltd. (Australia) | 3,139,401 | 32,826,541 | ||||
Impala Platinum Holdings Ltd. (South Africa) | 17,248 | 265,873 | ||||
K92 Mining, Inc. (Canada)* | 283,125 | 2,069,962 | ||||
Karora Resources, Inc. (Canada)* | 258,720 | 1,316,209 | ||||
MMC Norilsk Nickel PJSC (Russia)^ | 6,414 | — | ||||
Nippon Steel Corp. (Japan) | 90,800 | 1,601,676 | ||||
Norsk Hydro ASA (Norway) | 89,209 | 868,274 | ||||
Northern Star Resources Ltd. (Australia) | 363,951 | 2,920,872 | ||||
Nucor Corp.(a) | 22,118 | 3,287,841 | ||||
OZ Minerals Ltd. (Australia) | 82,021 | 1,621,586 | ||||
Perseus Mining Ltd. (Australia) | 1,977,028 | 2,889,530 | ||||
Polyus PJSC (Russia)^ | 6,592 | — | ||||
Reliance Steel & Aluminum Co. | 50,590 | 9,275,676 | ||||
Rhyolite Resources Ltd. (Canada)*^ | 378,990 | 177,831 | ||||
Rio Tinto Ltd. (Australia) | 93,580 | 8,320,473 | ||||
Rio Tinto PLC (Australia) | 42,457 | 3,372,782 | ||||
Royal Gold, Inc. | 2,542 | 359,134 | ||||
Sibanye Stillwater Ltd. (South Africa) | 250,500 | 1,018,646 | ||||
South32 Ltd. (Australia) | 3,435,778 | 12,827,955 | ||||
Southern Copper Corp. (Peru) | 22,012 | 1,670,711 | ||||
Steel Dynamics, Inc.(a) | 120,174 | 10,026,117 |
A7
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Metals & Mining (cont’d.) | ||||||
Tietto Minerals Ltd. (Australia)*(a) | 2,149,667 | $835,024 | ||||
Vale SA (Brazil) | 92,273 | 1,851,255 | ||||
Victoria Gold Corp. (Canada)* | 205,282 | 2,610,874 | ||||
Wesdome Gold Mines Ltd. (Canada)* | 500,708 | 6,284,133 | ||||
Wheaton Precious Metals Corp. (Brazil) | 18,389 | 874,476 | ||||
193,226,607 | ||||||
Mortgage Real Estate Investment Trusts (REITs) — 0.0% | ||||||
Annaly Capital Management, Inc.(a) | 277,856 | 1,956,106 | ||||
Franklin BSP Realty Trust, Inc.(a) | 95,644 | 1,337,103 | ||||
Hannon Armstrong Sustainable Infrastructure Capital, Inc.(a) | 34,852 | 1,653,031 | ||||
PennyMac Mortgage Investment Trust(a) | 116,662 | 1,970,421 | ||||
6,916,661 | ||||||
Multiline Retail — 0.2% | ||||||
Dollar General Corp. | 58,783 | 13,086,859 | ||||
Dollar Tree, Inc.* | 61,317 | 9,819,918 | ||||
Kohl’s Corp. | 31,425 | 1,899,955 | ||||
Next PLC (United Kingdom) | 147,729 | 11,675,601 | ||||
Ollie’s Bargain Outlet Holdings, Inc.*(a) | 33,581 | 1,442,640 | ||||
37,924,973 | ||||||
Multi-Utilities — 0.8% | ||||||
Ameren Corp. | 246,713 | 23,131,811 | ||||
CMS Energy Corp. | 321,443 | 22,481,723 | ||||
Dominion Energy, Inc.(a) | 317,886 | 27,010,773 | ||||
Engie SA (France) | 1,682,092 | 22,083,195 | ||||
National Grid PLC (United Kingdom) | 1,153,584 | 17,805,933 | ||||
Sempra Energy(a) | 138,156 | 23,226,787 | ||||
WEC Energy Group, Inc. | 145,462 | 14,518,562 | ||||
150,258,784 | ||||||
Oil, Gas & Consumable Fuels — 1.6% | ||||||
Aker BP ASA (Norway) | 24,884 | 928,699 | ||||
Canadian Natural Resources Ltd. (Canada) | 15,477 | 958,345 | ||||
Cheniere Energy, Inc. | 26,438 | 3,665,629 | ||||
Chevron Corp.(a) | 202,788 | 33,019,970 | ||||
ConocoPhillips | 530,290 | 53,029,000 | ||||
Devon Energy Corp. | 43,054 | 2,545,783 | ||||
Enbridge, Inc. (Canada)(a) | 8,838 | 407,343 | ||||
EOG Resources, Inc.(a) | 168,542 | 20,095,263 | ||||
EQT Corp. | 56,334 | 1,938,453 | ||||
Equinor ASA (Norway) | 1,016,523 | 37,820,075 | ||||
Equitrans Midstream Corp. | 529,150 | 4,466,026 | ||||
Exxon Mobil Corp.(a) | 314,612 | 25,983,805 | ||||
Galp Energia SGPS SA (Portugal) | 178,266 | 2,262,281 | ||||
Hess Corp. | 15,126 | 1,619,087 | ||||
Lundin Energy AB (Sweden) | 25,593 | 1,080,416 | ||||
Magnolia Oil & Gas Corp. (Class A Stock)(a) | 180,518 | 4,269,251 | ||||
Marathon Petroleum Corp.(a) | 135,998 | 11,627,829 | ||||
Matador Resources Co. | 12,240 | 648,475 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Oil, Gas & Consumable Fuels (cont’d.) | ||||||
NAC Kazatomprom JSC (Kazakhstan), GDR | 30,256 | $960,463 | ||||
Ovintiv, Inc.(a) | 25,755 | 1,392,573 | ||||
PDC Energy, Inc. | 11,564 | 840,471 | ||||
Pioneer Natural Resources Co.(a) | 45,354 | 11,339,861 | ||||
Shell PLC (Netherlands), ADR | 229,578 | 12,610,720 | ||||
Targa Resources Corp.(a) | 63,664 | 4,804,722 | ||||
TC Energy Corp. (Canada) | 17,669 | 996,885 | ||||
Texas Pacific Land Corp.(a) | 853 | 1,153,350 | ||||
TotalEnergies SE (France)(a) | 609,524 | 30,791,655 | ||||
TotalEnergies SE (France), ADR(a) | 410,075 | 20,725,190 | ||||
291,981,620 | ||||||
Paper & Forest Products — 0.1% | ||||||
Mondi PLC (Austria) | 43,728 | 851,912 | ||||
Stora Enso OYJ (Finland) (Class R Stock) | 817,724 | 15,988,645 | ||||
Svenska Cellulosa AB SCA (Sweden) (Class B Stock) | 32,299 | 626,889 | ||||
UPM-Kymmene OYJ (Finland) | 23,468 | 764,546 | ||||
West Fraser Timber Co. Ltd. (Canada) (XTSE) | 4,723 | 388,600 | ||||
West Fraser Timber Co. Ltd. (Canada) (NYSE) | 20,198 | 1,664,921 | ||||
20,285,513 | ||||||
Personal Products — 0.4% | ||||||
BellRing Brands, Inc.*(a) | 42,001 | 969,383 | ||||
Estee Lauder Cos., Inc. (The) (Class A Stock) | 56,652 | 15,427,472 | ||||
L’Oreal SA (France) | 54,879 | 21,988,908 | ||||
Pola Orbis Holdings, Inc. (Japan) | 128,500 | 1,673,116 | ||||
Unilever PLC (United Kingdom) | 666,268 | 30,328,095 | ||||
70,386,974 | ||||||
Pharmaceuticals — 2.7% | ||||||
Arvinas, Inc.*(a) | 25,013 | 1,683,375 | ||||
Astellas Pharma, Inc. (Japan) | 1,622,600 | 25,358,265 | ||||
AstraZeneca PLC (United Kingdom), ADR(a) | 898,078 | 59,578,494 | ||||
Bayer AG (Germany) | 337,096 | 23,019,836 | ||||
Elanco Animal Health, Inc.*(a) | 735,744 | 19,195,561 | ||||
Eli Lilly & Co. | 213,726 | 61,204,715 | ||||
GlaxoSmithKline PLC, ADR(a) | 397,429 | 17,312,007 | ||||
Ipsen SA (France) | 66,246 | 8,287,486 | ||||
Johnson & Johnson | 273,633 | 48,495,976 | ||||
Merck & Co., Inc. | 93,890 | 7,703,674 | ||||
Novartis AG (Switzerland) | 389,408 | 34,125,019 | ||||
Otsuka Holdings Co. Ltd. (Japan) | 306,100 | 10,572,680 | ||||
Pacira BioSciences, Inc.*(a) | 21,722 | 1,657,823 | ||||
Pfizer, Inc. | 416,062 | 21,539,530 | ||||
Reata Pharmaceuticals, Inc. (Class A Stock)*(a) | 9,135 | 299,263 | ||||
Roche Holding AG (Switzerland) | 118,035 | 46,706,472 | ||||
Roche Holding AG (Switzerland), ADR(a) | 359,305 | 17,753,260 | ||||
Sanofi (France) | 367,398 | 37,577,682 |
A8
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Pharmaceuticals (cont’d.) | ||||||
Sanofi (France), ADR(a) | 288,249 | $14,798,704 | ||||
Zoetis, Inc. | 148,744 | 28,051,631 | ||||
484,921,453 | ||||||
Professional Services — 0.4% | ||||||
ALS Ltd. (Australia) | 288,415 | 2,854,052 | ||||
Booz Allen Hamilton Holding Corp. | 33,910 | 2,978,654 | ||||
Clarivate PLC*(a) | 42,631 | 714,496 | ||||
CoStar Group, Inc.*(a) | 75,863 | 5,053,234 | ||||
Huron Consulting Group, Inc.* | 18,270 | 836,949 | ||||
Korn Ferry | 20,950 | 1,360,493 | ||||
Leidos Holdings, Inc. | 34,086 | 3,681,970 | ||||
ManTech International Corp. (Class A Stock) | 6,007 | 517,743 | ||||
Recruit Holdings Co. Ltd. (Japan) | 358,000 | 15,673,160 | ||||
TechnoPro Holdings, Inc. (Japan) | 472,000 | 12,771,210 | ||||
Teleperformance (France) | 31,778 | 12,135,998 | ||||
TransUnion | 91,417 | 9,447,033 | ||||
Upwork, Inc.* | 31,060 | 721,834 | ||||
68,746,826 | ||||||
Real Estate Management & Development — 0.2% | ||||||
China Resources Mixc Lifestyle Services Ltd. (China), 144A | 120,400 | 591,384 | ||||
eXp World Holdings, Inc.(a) | 14,616 | 309,421 | ||||
Fabege AB (Sweden) | 68,141 | 1,006,969 | ||||
Heiwa Real Estate Co. Ltd. (Japan) | 9,500 | 305,946 | ||||
Hongkong Land Holdings Ltd. (Hong Kong) | 242,300 | 1,184,736 | ||||
Howard Hughes Corp. (The)* | 13,453 | 1,393,865 | ||||
Kojamo OYJ (Finland) | 38,916 | 933,050 | ||||
Mitsui Fudosan Co. Ltd. (Japan) | 929,300 | 19,816,430 | ||||
Opendoor Technologies, Inc.*(a) | 303,358 | 2,624,047 | ||||
Shurgard Self Storage SA (Belgium) | 10,359 | 643,480 | ||||
St. Joe Co. (The) | 72,838 | 4,314,923 | ||||
Sun Hung Kai Properties Ltd. (Hong Kong) | 78,166 | 927,388 | ||||
Tokyo Tatemono Co. Ltd. (Japan) | 43,300 | 647,474 | ||||
Vonovia SE (Germany) | 36,278 | 1,691,574 | ||||
Zillow Group, Inc. (Class C Stock)*(a) | 12,058 | 594,339 | ||||
36,985,026 | ||||||
Road & Rail — 0.3% | ||||||
Canadian Pacific Railway Ltd. (Canada)(a) | 102,725 | 8,478,922 | ||||
Central Japan Railway Co. (Japan) | 69,000 | 8,977,831 | ||||
CSX Corp. | 205,203 | 7,684,852 | ||||
Lyft, Inc. (Class A Stock)* | 14,129 | 542,554 | ||||
Norfolk Southern Corp. | 50,602 | 14,432,702 | ||||
Ryder System, Inc.(a) | 45,189 | 3,584,843 | ||||
Saia, Inc.* | 16,350 | 3,986,457 | ||||
Uber Technologies, Inc.* | 168,574 | 6,014,720 | ||||
Union Pacific Corp. | 3,014 | 823,455 | ||||
XPO Logistics, Inc.*(a) | 5,786 | 421,221 | ||||
54,947,557 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Semiconductors & Semiconductor Equipment — 2.8% | ||||||
Advanced Micro Devices, Inc.* | 587,176 | $64,201,824 | ||||
ASML Holding NV (Netherlands) | 53,260 | 35,674,313 | ||||
Broadcom, Inc. | 125,452 | 78,994,615 | ||||
CMC Materials, Inc. | 13,520 | 2,506,608 | ||||
Entegris, Inc. | 53,760 | 7,056,538 | ||||
KLA Corp. | 70,796 | 25,915,584 | ||||
Lattice Semiconductor Corp.* | 41,291 | 2,516,686 | ||||
Marvell Technology, Inc. | 146,520 | 10,506,949 | ||||
NVIDIA Corp.(a) | 432,642 | 118,050,696 | ||||
NXP Semiconductors NV (China)(a) | 112,112 | 20,749,689 | ||||
ON Semiconductor Corp.* | 103,969 | 6,509,499 | ||||
QUALCOMM, Inc. | 262,878 | 40,173,016 | ||||
Renesas Electronics Corp. (Japan)* | 620,200 | 7,199,821 | ||||
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 2,527,749 | 52,082,929 | ||||
Texas Instruments, Inc. | 16,966 | 3,112,922 | ||||
Tokyo Electron Ltd. (Japan) | 37,200 | 19,114,565 | ||||
Wolfspeed, Inc.*(a) | 17,568 | 2,000,292 | ||||
496,366,546 | ||||||
Software — 3.6% | ||||||
Anaplan, Inc.* | 27,893 | 1,814,440 | ||||
AppLovin Corp. (Class A Stock)*(a) | 9,744 | 536,602 | ||||
Avalara, Inc.* | 26,999 | 2,686,671 | ||||
Bill.com Holdings, Inc.*(a) | 12,325 | 2,795,187 | ||||
Black Knight, Inc.* | 35,779 | 2,074,824 | ||||
Cadence Design Systems, Inc.* | 36,900 | 6,068,574 | ||||
Citrix Systems, Inc. | 45,008 | 4,541,307 | ||||
CommVault Systems, Inc.* | 29,715 | 1,971,590 | ||||
Coupa Software, Inc.* | 11,096 | 1,127,686 | ||||
Crowdstrike Holdings, Inc. (Class A Stock)* | 26,218 | 5,953,583 | ||||
Datadog, Inc. (Class A Stock)* | 37,759 | 5,719,356 | ||||
DocuSign, Inc.* | 27,145 | 2,907,772 | ||||
Dynatrace, Inc.* | 12,423 | 585,123 | ||||
Fair Isaac Corp.* | 1,583 | 738,406 | ||||
Five9, Inc.*(a) | 30,141 | 3,327,566 | ||||
Fortinet, Inc.* | 16,158 | 5,521,835 | ||||
HashiCorp, Inc. (Class A Stock)*(a) | 11,014 | 594,756 | ||||
HubSpot, Inc.*(a) | 11,241 | 5,338,801 | ||||
Intuit, Inc. | 38,762 | 18,638,320 | ||||
Manhattan Associates, Inc.* | 11,206 | 1,554,384 | ||||
Microsoft Corp. | 1,217,963 | 375,510,173 | ||||
NortonLifeLock, Inc.(a) | 563,675 | 14,948,661 | ||||
Palantir Technologies, Inc. (Class A Stock)*(a) | 99,541 | 1,366,698 | ||||
Palo Alto Networks, Inc.* | 12,103 | 7,534,239 | ||||
Paylocity Holding Corp.* | 22,689 | 4,668,716 | ||||
RingCentral, Inc. (Class A Stock)* | 12,913 | 1,513,533 | ||||
salesforce.com, Inc.* | 289,342 | 61,433,093 | ||||
SAP SE (Germany) | 169,799 | 18,870,858 | ||||
Splunk, Inc.* | 23,625 | 3,510,911 | ||||
SPS Commerce, Inc.* | 13,707 | 1,798,358 | ||||
SS&C Technologies Holdings, Inc. | 39,426 | 2,957,739 | ||||
Synopsys, Inc.* | 68,896 | 22,960,970 | ||||
Trade Desk, Inc. (The) (Class A Stock)* | 58,002 | 4,016,639 | ||||
UiPath, Inc. (Class A Stock)*(a) | 53,939 | 1,164,543 | ||||
Unity Software, Inc.*(a) | 10,268 | 1,018,688 |
A9
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Software (cont’d.) | ||||||
VMware, Inc. (Class A Stock) | 17,820 | $2,029,163 | ||||
Workday, Inc. (Class A Stock)* | 82,093 | 19,657,990 | ||||
Workiva, Inc.*(a) | 10,200 | 1,203,600 | ||||
Zendesk, Inc.* | 26,635 | 3,203,924 | ||||
Zoom Video Communications, Inc. (Class A Stock)* | 220,598 | 25,860,704 | ||||
Zscaler, Inc.* | 4,750 | 1,146,080 | ||||
650,872,063 | ||||||
Specialty Retail — 1.0% | ||||||
AutoZone, Inc.* | 5,585 | 11,418,979 | ||||
Burlington Stores, Inc.*(a) | 63,631 | 11,591,659 | ||||
Carvana Co.*(a) | 18,660 | 2,225,951 | ||||
Five Below, Inc.*(a) | 21,072 | 3,337,173 | ||||
Floor & Decor Holdings, Inc. (Class A Stock)* | 17,990 | 1,457,190 | ||||
GameStop Corp. (Class A Stock)*(a) | 5,840 | 972,827 | ||||
Home Depot, Inc. (The) | 182,031 | 54,487,339 | ||||
Kingfisher PLC (United Kingdom) | 4,589,024 | 15,370,352 | ||||
Lowe’s Cos., Inc. | 93,082 | 18,820,250 | ||||
Monro, Inc. | 11,449 | 507,649 | ||||
Murphy USA, Inc. | 25,457 | 5,090,382 | ||||
O’Reilly Automotive, Inc.* | 24,771 | 16,967,144 | ||||
RH* | 4,141 | 1,350,339 | ||||
Ross Stores, Inc. | 147,454 | 13,338,689 | ||||
TJX Cos., Inc. (The) | 153,438 | 9,295,274 | ||||
Ulta Beauty, Inc.* | 18,501 | 7,367,468 | ||||
Williams-Sonoma, Inc.(a) | 4,750 | 688,750 | ||||
174,287,415 | ||||||
Technology Hardware, Storage & Peripherals — 2.7% | ||||||
Apple, Inc. | 2,486,513 | 434,170,035 | ||||
Dell Technologies, Inc. (Class C Stock)* | 14,616 | 733,577 | ||||
Pure Storage, Inc. (Class A Stock)* | 401,531 | 14,178,060 | ||||
Samsung Electronics Co. Ltd. (South Korea) | 521,106 | 29,804,590 | ||||
478,886,262 | ||||||
Textiles, Apparel & Luxury Goods — 0.6% | ||||||
Capri Holdings Ltd.*(a) | 58,465 | 3,004,516 | ||||
Deckers Outdoor Corp.* | 3,145 | 861,007 | ||||
Dr. Martens PLC (United Kingdom) | 1,500,473 | 4,651,376 | ||||
EssilorLuxottica SA (France) | 77,694 | 14,238,581 | ||||
Kering SA (France) | 15,914 | 10,061,244 | ||||
Lululemon Athletica, Inc.* | 44,309 | 16,182,976 | ||||
Moncler SpA (Italy) | 214,434 | 11,907,727 | ||||
NIKE, Inc. (Class B Stock) | 252,145 | 33,928,631 | ||||
Samsonite International SA, 144A* | 2,385,600 | 5,350,372 | ||||
Steven Madden Ltd. | 36,541 | 1,411,944 | ||||
101,598,374 | ||||||
Thrifts & Mortgage Finance — 0.1% | ||||||
Capitol Federal Financial, Inc. | 189,403 | 2,060,705 | ||||
Housing Development Finance Corp. Ltd. (India) | 350,380 | 11,001,659 | ||||
PennyMac Financial Services, Inc.(a) | 60,999 | 3,245,147 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Thrifts & Mortgage Finance (cont’d.) | ||||||
WSFS Financial Corp.(a) | 70,839 | $3,302,514 | ||||
19,610,025 | ||||||
Tobacco — 0.2% | ||||||
Altria Group, Inc. | 304,320 | 15,900,720 | ||||
Philip Morris International, Inc. | 142,722 | 13,407,305 | ||||
29,308,025 | ||||||
Trading Companies & Distributors — 0.4% | ||||||
Air Lease Corp. | 57,406 | 2,563,178 | ||||
Ashtead Group PLC (United Kingdom) | 282,953 | 17,884,673 | ||||
Bunzl PLC (United Kingdom) | 224,675 | 8,769,357 | ||||
GMS, Inc.* | 40,926 | 2,036,887 | ||||
Mitsubishi Corp. (Japan) | 357,700 | 13,419,767 | ||||
Rush Enterprises, Inc. (Class A Stock)(a) | 70,432 | 3,585,693 | ||||
SiteOne Landscape Supply, Inc.* | 6,943 | 1,122,614 | ||||
Sumitomo Corp. (Japan) | 758,700 | 13,111,532 | ||||
United Rentals, Inc.* | 5,136 | 1,824,359 | ||||
64,318,060 | ||||||
Water Utilities — 0.0% | ||||||
California Water Service Group | 34,152 | 2,024,531 | ||||
Wireless Telecommunication Services — 0.3% | ||||||
SoftBank Group Corp. (Japan) | 146,600 | 6,591,705 | ||||
T-Mobile US, Inc.*(a) | 300,129 | 38,521,557 | ||||
Vodafone Group PLC (United Kingdom), ADR(a) | 957,305 | 15,910,409 | ||||
61,023,671 | ||||||
Total Common Stocks (cost $7,483,290,585) | 9,494,426,865 | |||||
Preferred Stocks — 0.1% | ||||||
Communications Equipment — 0.0% | ||||||
2020 Cash Mandatory Exchangeable Trust, 144A, CVT, 5.250%, Maturing 06/01/23 | 594 | 663,795 | ||||
Electric Utilities — 0.1% | ||||||
American Electric Power Co., Inc., CVT, 6.125%, Maturing 08/15/23(a) | 22,918 | 1,280,429 | ||||
NextEra Energy, Inc., CVT, 5.279%, Maturing 03/01/23 | 57,093 | 2,977,400 | ||||
Southern Co. (The), Series 2019, CVT, 6.750%, Maturing 08/01/22 | 41,248 | 2,252,553 | ||||
6,510,382 | ||||||
Health Care Equipment & Supplies — 0.0% | ||||||
Danaher Corp., Series B, CVT, 5.000%, Maturing 04/15/23(a) | 1,176 | 1,857,186 | ||||
Life Sciences Tools & Services — 0.0% | ||||||
Avantor, Inc., Series A, CVT, 6.250%, Maturing 05/15/22 | 22,935 | 2,374,461 | ||||
Total Preferred Stocks (cost $8,714,118) | 11,405,824 |
A10
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities — 2.0% | |||||||
Automobiles — 0.6% | |||||||
AmeriCredit Automobile Receivables Trust, | |||||||
Series 2020-01, Class C | |||||||
1.590% | 10/20/25 | 3,525 | $3,482,272 | ||||
Series 2020-01, Class D | |||||||
1.800% | 12/18/25 | 3,405 | 3,321,948 | ||||
Series 2021-01, Class C | |||||||
0.890% | 10/19/26 | 3,770 | 3,581,076 | ||||
Series 2021-02, Class C | |||||||
1.010% | 01/19/27 | 5,125 | 4,813,985 | ||||
Avis Budget Rental Car Funding AESOP LLC, | |||||||
Series 2017-2A, Class A, 144A | |||||||
2.970% | 03/20/24 | 3,118 | 3,129,500 | ||||
Series 2018-02A, Class A, 144A | |||||||
4.000% | 03/20/25 | 8,675 | 8,810,902 | ||||
Series 2020-01A, Class B, 144A | |||||||
2.680% | 08/20/26 | 1,395 | 1,338,504 | ||||
CarMax Auto Owner Trust, | |||||||
Series 2020-01, Class D | |||||||
2.640% | 07/15/26 | 7,660 | 7,584,009 | ||||
Series 2021-01, Class C | |||||||
0.940% | 12/15/26 | 1,920 | 1,798,675 | ||||
Carvana Auto Receivables Trust, | |||||||
Series 2021-N04, Class D | |||||||
2.300% | 09/11/28 | 10,040 | 9,630,266 | ||||
Drive Auto Receivables Trust, | |||||||
Series 2021-01, Class D | |||||||
1.450% | 01/16/29 | 2,780 | 2,677,480 | ||||
Enterprise Fleet Financing LLC, | |||||||
Series 2019-01, Class A2, 144A | |||||||
2.980% | 10/20/24 | 117 | 116,921 | ||||
Enterprise Fleet Funding LLC, | |||||||
Series 2021-01, Class A2, 144A | |||||||
0.440% | 12/21/26 | 498 | 488,005 | ||||
Exeter Automobile Receivables Trust, | |||||||
Series 2021-01A, Class C | |||||||
0.740% | 01/15/26 | 9,120 | 8,944,207 | ||||
Series 2021-02A, Class C | |||||||
0.980% | 06/15/26 | 2,150 | 2,096,100 | ||||
Series 2021-04A, Class C | |||||||
1.460% | 10/15/27 | 4,645 | 4,432,943 | ||||
Ford Credit Auto Owner Trust, | |||||||
Series 2018-01, Class C, 144A | |||||||
3.490% | 07/15/31 | 5,865 | 5,845,245 | ||||
Series 2020-02, Class C, 144A | |||||||
1.740% | 04/15/33 | 4,520 | 4,198,487 | ||||
Series 2021-02, Class C, 144A | |||||||
2.110% | 05/15/34 | 4,000 | 3,739,849 | ||||
GM Financial Automobile Leasing Trust, | |||||||
Series 2020-01, Class C | |||||||
2.040% | 12/20/23 | 1,620 | 1,622,034 | ||||
Series 2021-02, Class C | |||||||
1.010% | 05/20/25 | 385 | 370,441 | ||||
GMF Floorplan Owner Revolving Trust, | |||||||
Series 2020-01, Class A, 144A | |||||||
0.680% | 08/15/25 | 740 | 720,590 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Automobiles (cont’d.) | |||||||
Hyundai Auto Receivables Trust, | |||||||
Series 2019-B, Class C | |||||||
2.400% | 06/15/26 | 2,315 | $2,307,890 | ||||
JPMorgan Chase Bank, NA, | |||||||
Series 2021-02, Class D, 144A | |||||||
1.138% | 12/26/28 | 1,652 | 1,619,942 | ||||
Santander Drive Auto Receivables Trust, | |||||||
Series 2021-03, Class D | |||||||
1.330% | 09/15/27 | 4,910 | 4,701,453 | ||||
Santander Retail Auto Lease Trust, | |||||||
Series 2019-C, Class D, 144A | |||||||
2.880% | 06/20/24 | 3,525 | 3,537,651 | ||||
Series 2020-A, Class C, 144A | |||||||
2.080% | 03/20/24 | 5,595 | 5,578,820 | ||||
World Omni Auto Receivables Trust, | |||||||
Series 2018-B, Class B | |||||||
3.170% | 01/15/25 | 2,635 | 2,645,278 | ||||
103,134,473 | |||||||
Collateralized Loan Obligations — 0.9% | |||||||
522 Funding CLO Ltd. (Cayman Islands), | |||||||
Series 2019-05A, Class AR, 144A, 3 Month Term SOFR + 1.330% (Cap N/A, Floor 1.330%) | |||||||
1.552%(c) | 04/15/35 | 10,730 | 10,651,175 | ||||
AGL CLO Ltd. (Cayman Islands), | |||||||
Series 2021-14A, Class A, 144A, 3 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%) | |||||||
1.267%(c) | 12/02/34 | 9,800 | 9,694,263 | ||||
Arbor Realty Commercial Real Estate Notes Ltd., | |||||||
Series 2021-FL04, Class A, 144A, 1 Month LIBOR + 1.350% (Cap N/A, Floor 1.350%) | |||||||
1.747%(c) | 11/15/36 | 4,805 | 4,755,120 | ||||
BDS Ltd. (Cayman Islands), | |||||||
Series 2021-FL10, Class A, 144A, 1 Month LIBOR + 1.350% (Cap N/A, Floor 1.350%) | |||||||
1.818%(c) | 12/16/36 | 11,220 | 11,095,411 | ||||
Benefit Street Partners CLO Ltd. (Cayman Islands), | |||||||
Series 2015-06BR, Class A, 144A, 3 Month LIBOR + 1.190% (Cap N/A, Floor 1.190%) | |||||||
1.444%(c) | 07/20/34 | 4,925 | 4,868,205 | ||||
Series 2021-25A, Class B, 144A, 3 Month LIBOR + 1.700% (Cap N/A, Floor 1.700%) | |||||||
1.943%(c) | 01/15/35 | 4,900 | 4,837,213 | ||||
CBAM Ltd. (Cayman Islands), | |||||||
Series 2019-09A, Class A, 144A, 3 Month LIBOR + 1.280% (Cap N/A, Floor 1.280%) | |||||||
1.521%(c) | 02/12/30 | 1,765 | 1,758,485 | ||||
CIFC Funding Ltd. (Cayman Islands), | |||||||
Series 2015-04A, Class A1A2, 144A, 3 Month LIBOR + 1.070% (Cap N/A, Floor 1.070%) | |||||||
1.324%(c) | 04/20/34 | 3,870 | 3,807,999 | ||||
Series 2019-05A, Class A1R1, 144A, 3 Month LIBOR + 1.140% (Cap N/A, Floor 1.140%) | |||||||
1.377%(c) | 01/15/35 | 11,065 | 10,932,731 | ||||
Series 2020-03A, Class A1R, 144A, 3 Month LIBOR + 1.130% (Cap N/A, Floor 1.130%) | |||||||
1.384%(c) | 10/20/34 | 4,220 | 4,169,754 |
A11
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
Invesco CLO Ltd. (Cayman Islands), | |||||||
Series 2021-02A, Class A, 144A, 3 Month LIBOR + 1.120% (Cap N/A, Floor 1.120%) | |||||||
1.361%(c) | 07/15/34 | 4,820 | $4,751,807 | ||||
Kings Park CLO Ltd. (Cayman Islands), | |||||||
Series 2021-01A, Class A, 144A, 3 Month LIBOR + 1.130% (Cap N/A, Floor 1.130%) | |||||||
1.478%(c) | 01/21/35 | 11,075 | 10,940,726 | ||||
KKR CLO Ltd. (Cayman Islands), | |||||||
Series 29A, Class B, 144A, 3 Month LIBOR + 1.500% (Cap N/A, Floor 1.500%) | |||||||
1.741%(c) | 01/15/32 | 4,945 | 4,885,764 | ||||
Series 33A, Class A, 144A, 3 Month LIBOR + 1.170% (Cap N/A, Floor 1.170%) | |||||||
1.424%(c) | 07/20/34 | 3,360 | 3,325,501 | ||||
Madison Park Funding Ltd. (Cayman Islands), | |||||||
Series 2019-37A, Class AR, 144A, 3 Month LIBOR + 1.070% (Cap N/A, Floor 1.070%) | |||||||
1.311%(c) | 07/15/33 | 5,830 | 5,768,463 | ||||
Magnetite Ltd. (Cayman Islands), | |||||||
Series 2020-25A, Class A, 144A, 3 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%) | |||||||
1.458%(c) | 01/25/32 | 3,560 | 3,539,620 | ||||
Neuberger Berman CLO Ltd. (Cayman Islands), | |||||||
Series 2017-16SA, Class AR, 144A, 3 Month LIBOR + 1.040% (Cap N/A, Floor 1.040%) | |||||||
1.281%(c) | 04/15/34 | 4,435 | 4,384,908 | ||||
Neuberger Berman Loan Advisers CLO Ltd. (Cayman Islands), | |||||||
Series 2019-32A, Class AR, 144A, 3 Month LIBOR + 0.990% (Cap N/A, Floor 0.990%) | |||||||
1.238%(c) | 01/20/32 | 8,580 | 8,464,268 | ||||
Series 2021-40A, Class A, 144A, 3 Month LIBOR + 1.060% (Cap N/A, Floor 1.060%) | |||||||
1.301%(c) | 04/16/33 | 2,485 | 2,459,176 | ||||
Series 2021-43A, Class A, 144A, 3 Month LIBOR + 1.130% (Cap N/A, Floor 1.130%) | |||||||
1.371%(c) | 07/17/35 | 2,985 | 2,951,151 | ||||
OCP CLO Ltd. (Cayman Islands), | |||||||
Series 2014-07A, Class A1RR, 144A, 3 Month LIBOR + 1.120% (Cap N/A, Floor 0.000%) | |||||||
1.374%(c) | 07/20/29 | 4,460 | 4,448,464 | ||||
OZLM Ltd. (Cayman Islands), | |||||||
Series 2014-07RA, Class A1R, 144A, 3 Month LIBOR + 1.010% (Cap N/A, Floor 1.010%) | |||||||
1.251%(c) | 07/17/29 | 5,886 | 5,861,825 | ||||
Palmer Square CLO Ltd. (Cayman Islands), | |||||||
Series 2021-02A, Class A, 144A, 3 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%) | |||||||
1.391%(c) | 07/15/34 | 4,120 | 4,077,294 | ||||
Series 2021-03A, Class A1, 144A, 3 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%) | |||||||
1.382%(c) | 01/15/35 | 5,140 | 5,082,796 | ||||
Peace Park CLO Ltd. (Cayman Islands), | |||||||
Series 2021-01A, Class A, 144A, 3 Month LIBOR + 1.130% (Cap N/A, Floor 1.130%) | |||||||
1.384%(c) | 10/20/34 | 5,955 | 5,884,474 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
Symphony CLO Ltd. (Cayman Islands), | |||||||
Series 2018-20A, Class BR, 144A, 3 Month LIBOR + 1.650% (Cap N/A, Floor 1.650%) | |||||||
1.891%(c) | 01/16/32 | 6,375 | $6,324,272 | ||||
Series 2021-26A, Class AR, 144A, 3 Month LIBOR + 1.080% (Cap N/A, Floor 1.080%) | |||||||
1.334%(c) | 04/20/33 | 2,535 | 2,510,605 | ||||
152,231,470 | |||||||
Credit Cards — 0.0% | |||||||
American Express Credit Account Master Trust, | |||||||
Series 2017-07, Class B | |||||||
2.540% | 05/15/25 | 2,785 | 2,797,277 | ||||
Equipment — 0.0% | |||||||
CNH Equipment Trust, | |||||||
Series 2019-A, Class A3 | |||||||
3.010% | 04/15/24 | 534 | 537,182 | ||||
MMAF Equipment Finance LLC, | |||||||
Series 2020-A, Class A4, 144A | |||||||
1.400% | 08/09/30 | 2,455 | 2,287,522 | ||||
2,824,704 | |||||||
Other — 0.2% | |||||||
CF Hippolyta LLC, | |||||||
Series 2021-01A, Class A1, 144A | |||||||
1.530% | 03/15/61 | 608 | 564,556 | ||||
Driven Brands Funding LLC, | |||||||
Series 2019-01A, Class A2, 144A | |||||||
4.641% | 04/20/49 | 2,527 | 2,515,502 | ||||
Series 2020-02A, Class A2, 144A | |||||||
3.237% | 01/20/51 | 3,416 | 3,200,163 | ||||
Series 2021-01A, Class A2, 144A | |||||||
2.791% | 10/20/51 | 4,035 | 3,618,955 | ||||
Hardee’s Funding LLC, | |||||||
Series 2021-01A, Class A2, 144A | |||||||
2.865% | 06/20/51 | 1,717 | 1,557,216 | ||||
Hilton Grand Vacations Trust, | |||||||
Series 2017-AA, Class A, 144A | |||||||
2.660% | 12/26/28 | 215 | 214,799 | ||||
MVW LLC, | |||||||
Series 2020-01A, Class A, 144A | |||||||
1.740% | 10/20/37 | 781 | 754,065 | ||||
Series 2021-01WA, Class B, 144A | |||||||
1.440% | 01/22/41 | 1,627 | 1,535,376 | ||||
MVW Owner Trust, | |||||||
Series 2017-01A, Class A, 144A | |||||||
2.420% | 12/20/34 | 1,684 | 1,677,043 | ||||
Navigator Aircraft ABS Ltd., | |||||||
Series 2021-01, Class A, 144A | |||||||
2.771% | 11/15/46 | 6,394 | 5,888,136 | ||||
Planet Fitness Master Issuer LLC, | |||||||
Series 2022-01A, Class A2I, 144A | |||||||
3.251% | 12/05/51 | 1,980 | 1,880,272 | ||||
SBA Tower Trust, | |||||||
Series 2014-02A, Class C, 144A | |||||||
3.869% | 10/08/24 | 4,675 | 4,713,843 |
A12
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Other (cont’d.) | |||||||
ServiceMaster Funding LLC, | |||||||
Series 2021-01, Class A2I, 144A | |||||||
2.865% | 07/30/51 | 4,079 | $3,661,568 | ||||
Sierra Timeshare Receivables Funding LLC, | |||||||
Series 2019-01A, Class A, 144A | |||||||
3.200% | 01/20/36 | 885 | 882,001 | ||||
32,663,495 | |||||||
Residential Mortgage-Backed Securities — 0.0% | |||||||
Bayview Mortgage Fund IVc Trust, | |||||||
Series 2017-RT03, Class A, 144A | |||||||
3.500%(cc) | 01/28/58 | 737 | 726,193 | ||||
Bayview Opportunity Master Fund IVa Trust, | |||||||
Series 2017-RT01, Class A1, 144A | |||||||
3.000%(cc) | 03/28/57 | 180 | 177,656 | ||||
Bayview Opportunity Master Fund IVb Trust, | |||||||
Series 2017-SPL04, Class A, 144A | |||||||
3.500%(cc) | 01/28/55 | 282 | 280,645 | ||||
VCAT LLC, | |||||||
Series 2021-NPL01, Class A1, 144A | |||||||
2.289% | 12/26/50 | 509 | 495,039 | ||||
1,679,533 | |||||||
Student Loans — 0.3% | |||||||
Navient Private Education Loan Trust, | |||||||
Series 2017-A, Class A2A, 144A | |||||||
2.880% | 12/16/58 | 482 | 483,612 | ||||
Navient Private Education Refi Loan Trust, | |||||||
Series 2018-A, Class A2, 144A | |||||||
3.190% | 02/18/42 | 614 | 616,468 | ||||
Series 2019-FA, Class A2, 144A | |||||||
2.600% | 08/15/68 | 3,086 | 3,057,534 | ||||
Series 2019-GA, Class A, 144A | |||||||
2.400% | 10/15/68 | 2,171 | 2,156,978 | ||||
Series 2020-BA, Class A2, 144A | |||||||
2.120% | 01/15/69 | 4,884 | 4,790,880 | ||||
Series 2020-CA, Class A2A, 144A | |||||||
2.150% | 11/15/68 | 3,275 | 3,148,952 | ||||
Series 2020-GA, Class A, 144A | |||||||
1.170% | 09/16/69 | 1,362 | 1,317,097 | ||||
Series 2021-A, Class A, 144A | |||||||
0.840% | 05/15/69 | 1,342 | 1,281,293 | ||||
Series 2021-EA, Class A, 144A | |||||||
0.970% | 12/16/69 | 2,308 | 2,172,423 | ||||
Series 2021-FA, Class A, 144A | |||||||
1.110% | 02/18/70 | 1,539 | 1,434,328 | ||||
Navient Student Loan Trust, | |||||||
Series 2018-01A, Class A2, 144A, 1 Month LIBOR + 0.350% (Cap N/A, Floor 0.000%) | |||||||
0.807%(c) | 03/25/67 | 800 | 798,934 | ||||
Series 2018-02A, Class A2, 144A, 1 Month LIBOR + 0.380% (Cap N/A, Floor 0.000%) | |||||||
0.837%(c) | 03/25/67 | 1,707 | 1,703,620 | ||||
Nelnet Student Loan Trust, | |||||||
Series 2020-01A, Class A, 144A, 1 Month LIBOR + 0.740% (Cap N/A, Floor 0.740%) | |||||||
1.197%(c) | 03/26/68 | 1,677 | 1,664,733 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Student Loans (cont’d.) | |||||||
SMB Private Education Loan Trust, | |||||||
Series 2015-C, Class A3, 144A, 1 Month LIBOR + 1.950% (Cap N/A, Floor 0.000%) | |||||||
2.347%(c) | 08/16/32 | 4,133 | $4,162,512 | ||||
Series 2016-A, Class A2A, 144A | |||||||
2.700% | 05/15/31 | 448 | 444,111 | ||||
Series 2016-B, Class A2A, 144A | |||||||
2.430% | 02/17/32 | 1,134 | 1,114,061 | ||||
Series 2016-C, Class A2A, 144A | |||||||
2.340% | 09/15/34 | 690 | 680,716 | ||||
Series 2018-A, Class A2A, 144A | |||||||
3.500% | 02/15/36 | 4,179 | 4,189,929 | ||||
Series 2018-B, Class A2B, 144A, 1 Month LIBOR + 0.720% (Cap N/A, Floor 0.000%) | |||||||
1.117%(c) | 01/15/37 | 2,243 | 2,230,608 | ||||
Series 2018-C, Class A2A, 144A | |||||||
3.630% | 11/15/35 | 2,893 | 2,906,759 | ||||
Series 2020-A, Class A2A, 144A | |||||||
2.230% | 09/15/37 | 1,505 | 1,452,622 | ||||
Series 2020-B, Class A1A, 144A | |||||||
1.290% | 07/15/53 | 2,119 | 2,016,222 | ||||
Series 2021-A, Class APT1, 144A | |||||||
1.070% | 01/15/53 | 6,764 | 6,220,046 | ||||
Series 2021-B, Class A, 144A | |||||||
1.310% | 07/17/51 | 7,121 | 6,768,714 | ||||
56,813,152 | |||||||
Total Asset-Backed Securities (cost $360,653,100) | 352,144,104 | ||||||
Commercial Mortgage-Backed Securities — 1.2% | |||||||
Alen Mortgage Trust, | |||||||
Series 2021-ACEN, Class A, 144A, 1 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%) | |||||||
1.547%(c) | 04/15/34 | 5,045 | 4,924,358 | ||||
Ashford Hospitality Trust, | |||||||
Series 2018-ASHF, Class B, 144A, 1 Month LIBOR + 1.250% (Cap N/A, Floor 1.250%) | |||||||
1.647%(c) | 04/15/35 | 3,185 | 3,117,392 | ||||
Austin Fairmont Hotel Trust, | |||||||
Series 2019-FAIR, Class A, 144A, 1 Month LIBOR + 1.050% (Cap N/A, Floor 1.050%) | |||||||
1.447%(c) | 09/15/32 | 5,000 | 4,946,930 | ||||
Banc of America Merrill Lynch Commercial Mortgage Securities Trust, | |||||||
Series 2021-JACX, Class B, 144A, 1 Month LIBOR + 1.450% (Cap N/A, Floor 1.450%) | |||||||
1.847%(c) | 09/15/38 | 1,985 | 1,958,831 | ||||
BANK, | |||||||
Series 2017-BNK04, Class B | |||||||
3.999% | 05/15/50 | 2,020 | 2,001,561 | ||||
Series 2019-BN21, Class AS | |||||||
3.093% | 10/17/52 | 4,045 | 3,930,096 | ||||
Barclays Commercial Mortgage Securities Trust, | |||||||
Series 2020-C07, Class B | |||||||
3.152%(cc) | 04/15/53 | 4,000 | 3,730,429 |
A13
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Benchmark Mortgage Trust, | |||||||
Series 2018-B03, Class AS | |||||||
4.195%(cc) | 04/10/51 | 2,165 | $2,221,243 | ||||
Series 2019-B12, Class XA, IO | |||||||
1.061%(cc) | 08/15/52 | 12,598 | 661,920 | ||||
Series 2019-B14, Class XA, IO | |||||||
0.782%(cc) | 12/15/62 | 13,070 | 523,480 | ||||
Series 2020-B17, Class XA, IO | |||||||
1.418%(cc) | 03/15/53 | 11,607 | 870,343 | ||||
BSREP Commercial Mortgage Trust, | |||||||
Series 2021-DC, Class C, 144A, 1 Month LIBOR + 1.550% (Cap N/A, Floor 1.550%) | |||||||
1.947%(c) | 08/15/38 | 3,590 | 3,500,105 | ||||
BX Commercial Mortgage Trust, | |||||||
Series 2019-IMC, Class B, 144A, 1 Month LIBOR + 1.300% (Cap N/A, Floor 1.300%) | |||||||
1.697%(c) | 04/15/34 | 9,770 | 9,611,489 | ||||
Series 2021-VINO, Class A, 144A, 1 Month LIBOR + 0.652% (Cap N/A, Floor 0.652%) | |||||||
1.049%(c) | 05/15/38 | 700 | 682,475 | ||||
BX Trust, | |||||||
Series 2018-BILT, Class A, 144A, 1 Month LIBOR + 0.800% (Cap N/A, Floor 0.800%) | |||||||
1.197%(c) | 05/15/30 | 5,200 | 5,128,049 | ||||
Series 2021-ARIA, Class B, 144A, 1 Month LIBOR + 1.297% (Cap N/A, Floor 1.297%) | |||||||
1.694%(c) | 10/15/36 | 2,680 | 2,625,350 | ||||
Series 2021-MFM01, Class A, 144A, 1 Month LIBOR + 0.700% (Cap N/A, Floor 0.700%) | |||||||
1.097%(c) | 01/15/34 | 691 | 676,003 | ||||
Cantor Commercial Real Estate Lending, | |||||||
Series 2019-CF02, Class AS | |||||||
3.116% | 11/15/52 | 9,790 | 9,533,903 | ||||
CD Mortgage Trust, | |||||||
Series 2017-CD03, Class B | |||||||
3.984%(cc) | 02/10/50 | 1,500 | 1,470,573 | ||||
CGDB Commercial Mortgage Trust, | |||||||
Series 2019-MOB, Class A, 144A, 1 Month LIBOR + 0.950% (Cap N/A, Floor 0.950%) | |||||||
1.347%(c) | 11/15/36 | 692 | 684,204 | ||||
Citigroup Commercial Mortgage Trust, | |||||||
Series 2014-GC21, Class AS | |||||||
4.026% | 05/10/47 | 3,000 | 3,027,106 | ||||
Series 2015-GC27, Class A5 | |||||||
3.137% | 02/10/48 | 2,205 | 2,190,286 | ||||
Series 2015-GC27, Class AS | |||||||
3.571% | 02/10/48 | 1,190 | 1,179,413 | ||||
Series 2015-GC29, Class XA, IO | |||||||
1.021%(cc) | 04/10/48 | 6,913 | 176,053 | ||||
Series 2015-GC33, Class XA, IO | |||||||
0.881%(cc) | 09/10/58 | 6,651 | 169,860 | ||||
Series 2016-P06, Class XA, IO | |||||||
0.570%(cc) | 12/10/49 | 5,036 | 112,971 | ||||
Series 2018-B02, Class C | |||||||
4.671%(cc) | 03/10/51 | 2,545 | 2,548,016 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Cold Storage Trust, | |||||||
Series 2020-ICE05, Class B, 144A, 1 Month LIBOR + 1.300% (Cap N/A, Floor 1.133%) | |||||||
1.697%(c) | 11/15/37 | 3,691 | $3,639,471 | ||||
Commercial Mortgage Trust, | |||||||
Series 2013-CR07, Class AM, 144A | |||||||
3.314% | 03/10/46 | 173 | 173,460 | ||||
Series 2014-CR17, Class XA, IO | |||||||
0.957%(cc) | 05/10/47 | 4,108 | 65,708 | ||||
Series 2014-LC17, Class XA, IO | |||||||
0.702%(cc) | 10/10/47 | 4,061 | 56,282 | ||||
Series 2014-UBS05, Class A4 | |||||||
3.838% | 09/10/47 | 4,400 | 4,425,512 | ||||
Series 2014-UBS06, Class XA, IO | |||||||
0.858%(cc) | 12/10/47 | 4,020 | 75,129 | ||||
Series 2015-LC21, Class B | |||||||
4.334%(cc) | 07/10/48 | 3,055 | 3,080,185 | ||||
Series 2015-LC23, Class A2 | |||||||
3.221% | 10/10/48 | 4,445 | 4,420,038 | ||||
Series 2015-PC01, Class B | |||||||
4.324%(cc) | 07/10/50 | 1,505 | 1,500,485 | ||||
Series 2016-DC02, Class A5 | |||||||
3.765% | 02/10/49 | 1,810 | 1,832,807 | ||||
Series 2020-CBM, Class C, 144A | |||||||
3.402% | 02/10/37 | 10,025 | 9,595,783 | ||||
Credit Suisse Mortgage Capital Certificates, | |||||||
Series 2019-ICE04, Class A, 144A, 1 Month LIBOR + 0.980% (Cap N/A, Floor 0.980%) | |||||||
1.377%(c) | 05/15/36 | 300 | 298,380 | ||||
CSAIL Commercial Mortgage Trust, | |||||||
Series 2019-C15, Class A4 | |||||||
4.053% | 03/15/52 | 4,305 | 4,439,931 | ||||
DBUBS Mortgage Trust, | |||||||
Series 2017-BRBK, Class B, 144A | |||||||
3.530%(cc) | 10/10/34 | 2,820 | 2,784,222 | ||||
FHLMC Multifamily Mortgage Trust, | |||||||
Series 2019-K92, Class B, 144A | |||||||
4.194%(cc) | 05/25/52 | 1,965 | 2,004,464 | ||||
Great Wolf Trust, | |||||||
Series 2019-WOLF, Class B, 144A, 1 Month LIBOR + 1.334% (Cap N/A, Floor 1.334%) | |||||||
1.731%(c) | 12/15/36 | 3,415 | 3,359,322 | ||||
Series 2019-WOLF, Class C, 144A, 1 Month LIBOR + 1.633% (Cap N/A, Floor 1.633%) | |||||||
2.030%(c) | 12/15/36 | 3,180 | 3,121,868 | ||||
GS Mortgage Securities Corp. Trust, | |||||||
Series 2021-ROSS, Class B, 144A, 1 Month LIBOR + 1.600% (Cap N/A, Floor 1.600%) | |||||||
1.997%(c) | 05/15/26 | 3,395 | 3,352,423 | ||||
GS Mortgage Securities Trust, | |||||||
Series 2015-GC34, Class XA, IO | |||||||
1.220%(cc) | 10/10/48 | 3,694 | 128,129 | ||||
Series 2018-GS09, Class AS | |||||||
4.141%(cc) | 03/10/51 | 2,945 | 3,024,888 |
A14
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
InTown Hotel Portfolio Trust, | |||||||
Series 2018-STAY, Class A, 144A, 1 Month LIBOR + 1.100% (Cap N/A, Floor 0.700%) | |||||||
1.497%(c) | 01/15/33 | 1,525 | $1,518,695 | ||||
JPMBB Commercial Mortgage Securities Trust, | |||||||
Series 2014-C19, Class XA, IO | |||||||
0.646%(cc) | 04/15/47 | 789 | 8,908 | ||||
JPMorgan Chase Commercial Mortgage Securities Trust, | |||||||
Series 2012-C06, Class AS | |||||||
4.117% | 05/15/45 | 1,928 | 1,926,418 | ||||
Series 2012-CBX, Class AS | |||||||
4.271% | 06/15/45 | 200 | 200,140 | ||||
Series 2013-C16, Class AS | |||||||
4.517% | 12/15/46 | 1,154 | 1,173,961 | ||||
Series 2018-AON, Class D, 144A | |||||||
4.613%(cc) | 07/05/31 | 1,400 | 1,405,431 | ||||
Series 2018-WPT, Class AFX, 144A | |||||||
4.248% | 07/05/33 | 1,812 | 1,832,777 | ||||
Series 2018-WPT, Class XAFX, IO, 144A | |||||||
1.116%(cc) | 07/05/33 | 2,000 | 23,233 | ||||
Series 2019-BKWD, Class A, 144A, 1 Month LIBOR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
1.397%(c) | 09/15/29 | 818 | 813,505 | ||||
Series 2020-609M, Class A, 144A, 1 Month LIBOR + 1.370% (Cap N/A, Floor 1.370%) | |||||||
1.767%(c) | 10/15/33 | 5,195 | 5,103,557 | ||||
Series 2022-OPO, Class C, 144A | |||||||
3.450%(cc) | 01/05/39 | 4,000 | 3,734,302 | ||||
KIND Trust, | |||||||
Series 2021-KIND, Class B, 144A, 1 Month LIBOR + 1.350% (Cap N/A, Floor 1.350%) | |||||||
1.747%(c) | 08/15/38 | 5,890 | 5,764,936 | ||||
KKR Industrial Portfolio Trust, | |||||||
Series 2021-KDIP, Class C, 144A, 1 Month LIBOR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
1.397%(c) | 12/15/37 | 1,402 | 1,370,789 | ||||
LUXE Trust, | |||||||
Series 2021-TRIP, Class C, 144A, 1 Month LIBOR + 1.750% (Cap N/A, Floor 1.750%) | |||||||
2.147%(c) | 10/15/38 | 5,440 | 5,363,084 | ||||
MHC Commercial Mortgage Trust, | |||||||
Series 2021-MHC, Class A, 144A, 1 Month LIBOR + 0.801% (Cap N/A, Floor 0.801%) | |||||||
1.198%(c) | 04/15/38 | 900 | 885,356 | ||||
Series 2021-MHC, Class B, 144A, 1 Month LIBOR + 1.101% (Cap N/A, Floor 1.101%) | |||||||
1.498%(c) | 04/15/38 | 4,755 | 4,674,409 | ||||
MHC Trust, | |||||||
Series 2021-MHC02, Class C, 144A, 1 Month LIBOR + 1.300% (Cap N/A, Floor 1.300%) | |||||||
1.697%(c) | 05/15/23 | 4,845 | 4,696,049 | ||||
Morgan Stanley Bank of America Merrill Lynch Trust, | |||||||
Series 2015-C24, Class AS | |||||||
4.036%(cc) | 05/15/48 | 825 | 827,736 | ||||
Series 2015-C25, Class XA, IO | |||||||
1.047%(cc) | 10/15/48 | 4,184 | 113,537 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Morgan Stanley Capital I Trust, | |||||||
Series 2015-MS01, Class AS | |||||||
4.040%(cc) | 05/15/48 | 325 | $328,289 | ||||
Series 2017-ASHF, Class A, 144A, 1 Month LIBOR + 0.850% (Cap N/A, Floor 0.850%) | |||||||
1.247%(c) | 11/15/34 | 6,393 | 6,328,272 | ||||
Series 2017-H01, Class AS | |||||||
3.773% | 06/15/50 | 3,875 | 3,865,108 | ||||
Series 2019-H07, Class A4 | |||||||
3.261% | 07/15/52 | 4,872 | 4,776,420 | ||||
Series 2019-MEAD, Class A, 144A | |||||||
3.170% | 11/10/36 | 1,230 | 1,206,581 | ||||
Series 2019-NUGS, Class A, 144A, 1 Month LIBOR + 0.950% (Cap N/A, Floor 2.450%) | |||||||
2.450%(c) | 12/15/36 | 400 | 395,705 | ||||
NYO Commercial Mortgage Trust, | |||||||
Series 2021-1290, Class C, 144A, 1 Month LIBOR + 1.995% (Cap N/A, Floor 1.995%) | |||||||
2.392%(c) | 11/15/38 | 12,910 | 12,604,512 | ||||
RLGH Trust, | |||||||
Series 2021-TROT, Class A, 144A, 1 Month LIBOR + 0.800% (Cap N/A, Floor 0.800%) | |||||||
1.197%(c) | 04/15/36 | 300 | 295,996 | ||||
SREIT Trust, | |||||||
Series 2021-MFP02, Class C, 144A, 1 Month LIBOR + 1.371% (Cap N/A, Floor 1.371%) | |||||||
1.768%(c) | 11/15/36 | 5,890 | 5,766,358 | ||||
UBS Commercial Mortgage Trust, | |||||||
Series 2017-C05, Class AS | |||||||
3.777%(cc) | 11/15/50 | 2,000 | 1,979,157 | ||||
Series 2017-C07, Class XA, IO | |||||||
1.010%(cc) | 12/15/50 | 4,072 | 172,242 | ||||
UBS-Barclays Commercial Mortgage Trust, | |||||||
Series 2012-C02, Class ASEC, 144A | |||||||
4.179% | 05/10/63 | 824 | 826,016 | ||||
Series 2012-C03, Class AS, 144A | |||||||
3.814% | 08/10/49 | 300 | 300,742 | ||||
Wells Fargo Commercial Mortgage Trust, | |||||||
Series 2015-C31, Class XA, IO | |||||||
0.966%(cc) | 11/15/48 | 3,838 | 108,503 | ||||
Series 2015-NXS02, Class C | |||||||
4.289%(cc) | 07/15/58 | 545 | 534,771 | ||||
Series 2017-C38, Class AS | |||||||
3.665%(cc) | 07/15/50 | 1,804 | 1,800,588 | ||||
Series 2018-C46, Class XA, IO | |||||||
0.935%(cc) | 08/15/51 | 3,681 | 135,876 | ||||
Series 2021-FCMT, Class A, 144A, 1 Month LIBOR + 1.200% (Cap N/A, Floor 1.200%) | |||||||
1.597%(c) | 05/15/31 | 1,083 | 1,070,853 | ||||
WFRBS Commercial Mortgage Trust, | |||||||
Series 2014-C19, Class AS | |||||||
4.271% | 03/15/47 | 2,775 | 2,796,145 | ||||
Series 2014-C19, Class B | |||||||
4.723%(cc) | 03/15/47 | 969 | 965,633 | ||||
Series 2014-C24, Class XA, IO | |||||||
0.845%(cc) | 11/15/47 | 2,364 | 42,657 |
A15
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Series 2014-LC14, Class XA, IO | |||||||
1.246%(cc) | 03/15/47 | 1,767 | $31,203 | ||||
Total Commercial Mortgage-Backed Securities (cost $217,151,279) | 211,349,376 | ||||||
Convertible Bonds — 0.0% | |||||||
Engineering & Construction — 0.0% | |||||||
HTA Group Ltd. (Tanzania), | |||||||
Gtd. Notes | |||||||
2.875% | 03/18/27 | 400 | 344,013 | ||||
Internet — 0.0% | |||||||
MercadoLibre, Inc. (Brazil), | |||||||
Sr. Unsec’d. Notes | |||||||
2.000% | 08/15/28 | 308 | 854,166 | ||||
Sea Ltd. (Taiwan), | |||||||
Sr. Unsec’d. Notes | |||||||
0.250% | 09/15/26 | 1,680 | 1,347,941 | ||||
Snap, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.625%(s) | 05/01/27 | 1,465 | 1,250,792 | ||||
Spotify USA, Inc., | |||||||
Gtd. Notes | |||||||
3.423%(s) | 03/15/26 | 985 | 843,084 | ||||
Twitter, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.493%(s) | 03/15/26 | 975 | 824,383 | ||||
5,120,366 | |||||||
Lodging — 0.0% | |||||||
Huazhu Group Ltd. (China), | |||||||
Sr. Unsec’d. Notes | |||||||
3.000% | 05/01/26 | 606 | 649,041 | ||||
Media — 0.0% | |||||||
DISH Network Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.375% | 08/15/26 | 640 | 577,455 | ||||
Liberty Broadband Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.750% | 09/30/50 | 470 | 464,186 | ||||
1,041,641 | |||||||
Total Convertible Bonds (cost $7,347,307) | 7,155,061 | ||||||
Corporate Bonds — 12.9% | |||||||
Advertising — 0.2% | |||||||
Advantage Sales & Marketing, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.500% | 11/15/28(a) | 2,585 | 2,453,748 | ||||
Clear Channel Outdoor Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
7.500% | 06/01/29(a) | 1,575 | 1,571,873 | ||||
7.750% | 04/15/28(a) | 3,605 | 3,623,403 | ||||
Sr. Sec’d. Notes, 144A | |||||||
5.125% | 08/15/27 | 1,535 | 1,519,263 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Advertising (cont’d.) | |||||||
Lamar Media Corp., | |||||||
Gtd. Notes | |||||||
4.000% | 02/15/30 | 1,089 | $1,035,909 | ||||
4.875% | 01/15/29(a) | 2,276 | 2,253,751 | ||||
Outfront Media Capital LLC/Outfront Media Capital Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.250% | 01/15/29 | 295 | 274,374 | ||||
Stagwell Global LLC, | |||||||
Gtd. Notes, 144A | |||||||
5.625% | 08/15/29 | 4,330 | 4,087,135 | ||||
Terrier Media Buyer, Inc., | |||||||
Gtd. Notes, 144A | |||||||
8.875% | 12/15/27(a) | 4,460 | 4,574,126 | ||||
WPP Finance 2010 (United Kingdom), | |||||||
Gtd. Notes | |||||||
3.750% | 09/19/24 | 7,048 | 7,127,177 | ||||
28,520,759 | |||||||
Aerospace & Defense — 0.0% | |||||||
Bombardier, Inc. (Canada), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
7.875% | 04/15/27(a) | 1,230 | 1,204,625 | ||||
Howmet Aerospace, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
6.750% | 01/15/28 | 250 | 274,044 | ||||
TransDigm, Inc., | |||||||
Gtd. Notes | |||||||
5.500% | 11/15/27 | 1,345 | 1,339,943 | ||||
Sr. Sec’d. Notes, 144A | |||||||
6.250% | 03/15/26(a) | 4,185 | 4,309,142 | ||||
7,127,754 | |||||||
Agriculture — 0.1% | |||||||
BAT Capital Corp. (United Kingdom), | |||||||
Gtd. Notes | |||||||
3.557% | 08/15/27 | 3,752 | 3,651,181 | ||||
4.700% | 04/02/27 | 12,100 | 12,397,446 | ||||
BAT International Finance PLC (United Kingdom), | |||||||
Gtd. Notes | |||||||
1.668% | 03/25/26(a) | 1,495 | 1,374,262 | ||||
Gtd. Notes, 144A | |||||||
3.950% | 06/15/25 | 5,446 | 5,431,247 | ||||
Reynolds American, Inc. (United Kingdom), | |||||||
Gtd. Notes | |||||||
5.700% | 08/15/35 | 252 | 266,418 | ||||
6.150% | 09/15/43 | 277 | 293,513 | ||||
7.250% | 06/15/37 | 738 | 874,172 | ||||
24,288,239 | |||||||
Airlines — 0.2% | |||||||
Air Canada (Canada), | |||||||
Sr. Sec’d. Notes | |||||||
4.625% | 08/15/29 | CAD | 915 | 687,997 | |||
Sr. Sec’d. Notes, 144A | |||||||
4.625% | 08/15/29 | CAD | 1,100 | 827,101 |
A16
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Airlines (cont’d.) | |||||||
American Airlines, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
11.750% | 07/15/25 | 4,320 | $5,045,970 | ||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.500% | 04/20/26(a) | 1,945 | 1,943,547 | ||||
5.750% | 04/20/29 | 3,630 | 3,617,569 | ||||
Delta Air Lines, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
7.375% | 01/15/26(a) | 1,750 | 1,893,473 | ||||
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.750% | 01/20/26(a) | 1,020 | 1,020,667 | ||||
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.500% | 06/20/27 | 7,050 | 7,340,024 | ||||
SriLankan Airlines Ltd. (Sri Lanka), | |||||||
Gov’t. Gtd. Notes | |||||||
7.000% | 06/25/24 | 1,120 | 522,974 | ||||
United Airlines 2019-2 Class A Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
2.900% | 11/01/29 | 1,452 | 1,326,894 | ||||
United Airlines 2019-2 Class AA Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
2.700% | 11/01/33 | 912 | 832,400 | ||||
United Airlines Holdings, Inc., | |||||||
Gtd. Notes | |||||||
4.875% | 01/15/25(a) | 555 | 552,990 | ||||
United Airlines, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.375% | 04/15/26(a) | 2,390 | 2,353,195 | ||||
4.625% | 04/15/29 | 2,590 | 2,465,677 | ||||
30,430,478 | |||||||
Apparel — 0.0% | |||||||
Crocs, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.125% | 08/15/31 | 930 | 785,932 | ||||
4.250% | 03/15/29 | 2,210 | 1,960,702 | ||||
Kontoor Brands, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.125% | 11/15/29 | 1,280 | 1,179,585 | ||||
Wolverine World Wide, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 08/15/29(a) | 1,675 | 1,488,286 | ||||
5,414,505 | |||||||
Auto Manufacturers — 0.4% | |||||||
Daimler Finance North America LLC (Germany), | |||||||
Gtd. Notes, 144A | |||||||
1.450% | 03/02/26 | 5,035 | 4,687,768 | ||||
2.450% | 03/02/31(a) | 1,845 | 1,686,823 | ||||
Ford Motor Co., | |||||||
Sr. Unsec’d. Notes | |||||||
6.625% | 10/01/28(a) | 965 | 1,056,279 | ||||
7.450% | 07/16/31 | 185 | 218,825 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Auto Manufacturers (cont’d.) | |||||||
9.000% | 04/22/25(a) | 2,801 | $3,208,751 | ||||
9.625% | 04/22/30(a) | 790 | 1,030,051 | ||||
Ford Motor Credit Co. LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 11/13/30(a) | 1,275 | 1,199,814 | ||||
4.950% | 05/28/27 | 2,150 | 2,185,892 | ||||
5.125% | 06/16/25 | 775 | 794,403 | ||||
General Motors Financial Co., Inc., | |||||||
Gtd. Notes | |||||||
4.000% | 10/06/26 | 2,190 | 2,197,583 | ||||
4.300% | 07/13/25 | 4,586 | 4,652,922 | ||||
4.350% | 04/09/25(a) | 2,111 | 2,150,062 | ||||
Sr. Unsec’d. Notes | |||||||
5.100% | 01/17/24 | 8,161 | 8,445,057 | ||||
Hyundai Capital America, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
1.800% | 10/15/25 | 2,166 | 2,021,216 | ||||
2.100% | 09/15/28 | 3,357 | 2,979,874 | ||||
2.375% | 02/10/23 | 4,526 | 4,508,811 | ||||
Jaguar Land Rover Automotive PLC (United Kingdom), | |||||||
Gtd. Notes, 144A | |||||||
5.500% | 07/15/29(a) | 1,275 | 1,134,617 | ||||
7.750% | 10/15/25 | 1,040 | 1,081,651 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.875% | 01/15/28(a) | 1,155 | 1,057,474 | ||||
Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC, | |||||||
Sr. Sec’d. Notes, 144A, 6 Month LIBOR + 5.625% (Cap N/A, Floor 6.625%) | |||||||
6.625%(c) | 10/15/26(a) | 4,071 | 3,970,720 | ||||
Volkswagen Group of America Finance LLC (Germany), | |||||||
Gtd. Notes, 144A | |||||||
2.850% | 09/26/24 | 2,675 | 2,646,250 | ||||
3.200% | 09/26/26(a) | 16,965 | 16,634,846 | ||||
4.625% | 11/13/25(a) | 2,055 | 2,126,673 | ||||
4.750% | 11/13/28 | 4,570 | 4,808,822 | ||||
76,485,184 | |||||||
Auto Parts & Equipment — 0.1% | |||||||
Adient Global Holdings Ltd., | |||||||
Gtd. Notes, 144A | |||||||
4.875% | 08/15/26(a) | 1,000 | 960,349 | ||||
Aptiv PLC, | |||||||
Gtd. Notes | |||||||
3.100% | 12/01/51(a) | 775 | 616,148 | ||||
Clarios Global LP/Clarios US Finance Co., | |||||||
Gtd. Notes, 144A | |||||||
8.500% | 05/15/27(a) | 610 | 632,985 | ||||
Dana, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.250% | 09/01/30(a) | 735 | 672,140 | ||||
Dornoch Debt Merger Sub, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.625% | 10/15/29(a) | 840 | 733,357 | ||||
Goodyear Tire & Rubber Co. (The), | |||||||
Gtd. Notes | |||||||
5.250% | 04/30/31(a) | 1,580 | 1,486,749 |
A17
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Auto Parts & Equipment (cont’d.) | |||||||
5.625% | 04/30/33(a) | 770 | $711,246 | ||||
Gtd. Notes, 144A | |||||||
5.000% | 07/15/29(a) | 2,555 | 2,387,802 | ||||
5.250% | 07/15/31(a) | 1,965 | 1,820,550 | ||||
Tenneco, Inc., | |||||||
Gtd. Notes | |||||||
5.000% | 07/15/26(a) | 1,515 | 1,490,018 | ||||
Sr. Sec’d. Notes, 144A | |||||||
5.125% | 04/15/29 | 2,521 | 2,500,554 | ||||
7.875% | 01/15/29(a) | 2,034 | 2,143,284 | ||||
16,155,182 | |||||||
Banks — 2.4% | |||||||
Banco Davivienda SA (Colombia), | |||||||
Jr. Sub. Notes, 144A | |||||||
6.650%(ff) | 04/22/31(oo) | 2,100 | 1,934,406 | ||||
Banco de Bogota SA (Colombia), | |||||||
Sub. Notes | |||||||
6.250% | 05/12/26 | 1,400 | 1,429,213 | ||||
Banco General SA (Panama), | |||||||
Jr. Sub. Notes, 144A | |||||||
5.250%(ff) | 05/07/31(oo) | 620 | 608,736 | ||||
Banco Mercantil del Norte SA (Mexico), | |||||||
Jr. Sub. Notes | |||||||
6.750%(ff) | 09/27/24(oo) | 800 | 783,150 | ||||
7.625%(ff) | 01/10/28(oo) | 400 | 395,678 | ||||
8.375%(ff) | 10/14/30(oo) | 650 | 677,929 | ||||
Banco Nacional de Panama (Panama), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.500% | 08/11/30(a) | 2,650 | 2,343,345 | ||||
Banco Santander Chile (Chile), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.177% | 10/26/31 | 2,000 | 1,910,471 | ||||
Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand (Mexico), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.375% | 04/17/25(a) | 730 | 761,567 | ||||
Banco Santander SA (Spain), | |||||||
Sr. Unsec’d. Notes | |||||||
1.722%(ff) | 09/14/27 | 5,000 | 4,532,572 | ||||
3.490% | 05/28/30 | 6,800 | 6,566,820 | ||||
4.175%(ff) | 03/24/28 | 1,000 | 1,006,940 | ||||
Bancolombia SA (Colombia), | |||||||
Sub. Notes | |||||||
4.625%(ff) | 12/18/29(a) | 1,100 | 1,058,233 | ||||
Bangkok Bank PCL (Thailand), | |||||||
Sub. Notes, 144A | |||||||
3.466%(ff) | 09/23/36 | 990 | 886,982 | ||||
Sub. Notes, EMTN | |||||||
3.733%(ff) | 09/25/34 | 8,100 | 7,543,291 | ||||
Bank Muscat SAOG (Oman), | |||||||
Sr. Unsec’d. Notes, EMTN | |||||||
4.750% | 03/17/26 | 1,800 | 1,815,244 | ||||
Bank Negara Indonesia Persero Tbk PT (Indonesia), | |||||||
Sub. Notes, EMTN | |||||||
3.750% | 03/30/26 | 2,436 | 2,312,619 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
Bank of America Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.592%(ff) | 04/29/31 | 4,514 | $4,169,862 | ||||
2.972%(ff) | 02/04/33 | 2,180 | 2,044,714 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
1.898%(ff) | 07/23/31 | 12,615 | 11,016,984 | ||||
1.922%(ff) | 10/24/31 | 10,096 | 8,797,969 | ||||
2.496%(ff) | 02/13/31 | 26,620 | 24,426,200 | ||||
3.194%(ff) | 07/23/30 | 1,450 | 1,403,942 | ||||
3.248% | 10/21/27(a) | 3,837 | 3,826,415 | ||||
4.271%(ff) | 07/23/29 | 2,039 | 2,105,773 | ||||
Barclays PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
2.279%(ff) | 11/24/27 | 2,220 | 2,064,745 | ||||
2.852%(ff) | 05/07/26(a) | 3,820 | 3,713,910 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
4.338%(ff) | 05/16/24 | 2,555 | 2,595,992 | ||||
Sub. Notes | |||||||
4.836% | 05/09/28 | 487 | 497,625 | ||||
BBVA Bancomer SA (Mexico), | |||||||
Sub. Notes | |||||||
5.125%(ff) | 01/18/33 | 3,500 | 3,300,559 | ||||
5.350%(ff) | 11/12/29 | 200 | 199,811 | ||||
BNP Paribas SA (France), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
1.323%(ff) | 01/13/27 | 2,965 | 2,700,824 | ||||
2.159%(ff) | 09/15/29 | 2,440 | 2,175,776 | ||||
2.591%(ff) | 01/20/28 | 3,980 | 3,745,147 | ||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
3.052%(ff) | 01/13/31 | 6,000 | 5,625,479 | ||||
Citigroup, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.520%(ff) | 11/03/32 | 20,000 | 17,934,938 | ||||
3.106%(ff) | 04/08/26 | 10,535 | 10,446,365 | ||||
Credit Suisse Group AG (Switzerland), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.194%(ff) | 04/01/31 | 8,180 | 8,083,195 | ||||
Danske Bank A/S (Denmark), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
1.226% | 06/22/24 | 3,385 | 3,230,164 | ||||
3.244%(ff) | 12/20/25(a) | 2,430 | 2,395,348 | ||||
3.773%(ff) | 03/28/25 | 2,690 | 2,698,238 | ||||
3.875% | 09/12/23 | 5 | 5,048 | ||||
5.375% | 01/12/24 | 4,250 | 4,389,340 | ||||
Emirates NBD Bank PJSC (United Arab Emirates), | |||||||
Jr. Sub. Notes | |||||||
6.125%(ff) | 03/20/25(oo) | 1,700 | 1,717,000 | ||||
Freedom Mortgage Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.625% | 01/15/27 | 825 | 765,335 | ||||
Goldman Sachs Group, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
1.542%(ff) | 09/10/27 | 4,265 | 3,908,797 | ||||
1.948%(ff) | 10/21/27 | 6,631 | 6,165,352 | ||||
2.650%(ff) | 10/21/32 | 3,703 | 3,363,417 | ||||
3.102%(ff) | 02/24/33 | 5,285 | 4,986,931 |
A18
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
3.615%(ff) | 03/15/28(a) | 4,135 | $4,135,194 | ||||
3.691%(ff) | 06/05/28(a) | 4,174 | 4,183,709 | ||||
4.223%(ff) | 05/01/29 | 9,232 | 9,456,719 | ||||
HSBC Holdings PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
2.013%(ff) | 09/22/28 | 750 | 680,733 | ||||
2.099%(ff) | 06/04/26 | 8,355 | 7,943,331 | ||||
4.041%(ff) | 03/13/28 | 454 | 455,830 | ||||
4.292%(ff) | 09/12/26 | 365 | 370,111 | ||||
4.950% | 03/31/30 | 14,745 | 15,775,315 | ||||
ING Groep NV (Netherlands), | |||||||
Sr. Unsec’d. Notes | |||||||
1.726%(ff) | 04/01/27 | 2,000 | 1,847,270 | ||||
3.869%(ff) | 03/28/26 | 1,830 | 1,839,081 | ||||
JPMorgan Chase & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
1.764%(ff) | 11/19/31 | 6,503 | 5,625,143 | ||||
2.083%(ff) | 04/22/26 | 8,446 | 8,140,807 | ||||
2.182%(ff) | 06/01/28(a) | 5,470 | 5,134,873 | ||||
2.522%(ff) | 04/22/31 | 9,752 | 9,030,261 | ||||
2.739%(ff) | 10/15/30 | 6,189 | 5,855,875 | ||||
2.947%(ff) | 02/24/28(a) | 4,285 | 4,181,504 | ||||
2.963%(ff) | 01/25/33(a) | 2,980 | 2,812,405 | ||||
3.109%(ff) | 04/22/51(a) | 3,062 | 2,723,161 | ||||
Sub. Notes | |||||||
2.956%(ff) | 05/13/31(a) | 11,372 | 10,661,775 | ||||
Morgan Stanley, | |||||||
Sr. Unsec’d. Notes | |||||||
1.593%(ff) | 05/04/27 | 1,954 | 1,816,501 | ||||
3.217%(ff) | 04/22/42 | 1,222 | 1,125,018 | ||||
Sr. Unsec’d. Notes, GMTN | |||||||
2.699%(ff) | 01/22/31 | 18,150 | 16,979,164 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
1.794%(ff) | 02/13/32 | 6,756 | 5,826,050 | ||||
1.928%(ff) | 04/28/32 | 1,537 | 1,328,331 | ||||
2.943%(ff) | 01/21/33 | 1,870 | 1,752,225 | ||||
NatWest Group PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
3.875% | 09/12/23 | 4,860 | 4,908,206 | ||||
QNB Finance Ltd. (Qatar), | |||||||
Gtd. Notes, EMTN | |||||||
2.750% | 02/12/27 | 6,500 | 6,330,709 | ||||
Santander Holdings USA, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.490%(ff) | 01/06/28 | 2,690 | 2,513,123 | ||||
Santander UK Group Holdings PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
1.532%(ff) | 08/21/26 | 9,140 | 8,429,088 | ||||
Standard Chartered PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
1.456%(ff) | 01/14/27 | 2,215 | 2,018,424 | ||||
2.608%(ff) | 01/12/28 | 3,675 | 3,437,599 | ||||
2.819%(ff) | 01/30/26 | 3,186 | 3,097,533 | ||||
3.971%(ff) | 03/30/26 | 2,205 | 2,202,811 | ||||
4.644%(ff) | 04/01/31(a) | 9,590 | 9,889,949 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
UBS Group AG (Switzerland), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
1.364%(ff) | 01/30/27 | 3,515 | $3,236,399 | ||||
2.746%(ff) | 02/11/33 | 6,685 | 6,089,133 | ||||
Wells Fargo & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
2.188%(ff) | 04/30/26 | 2,583 | 2,493,825 | ||||
3.068%(ff) | 04/30/41 | 7,835 | 7,061,500 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
2.393%(ff) | 06/02/28 | 3,073 | 2,907,938 | ||||
2.572%(ff) | 02/11/31 | 19,330 | 17,961,638 | ||||
2.879%(ff) | 10/30/30 | 12,745 | 12,131,102 | ||||
5.013%(ff) | 04/04/51 | 3,345 | 3,962,052 | ||||
Sub. Notes, GMTN | |||||||
4.300% | 07/22/27 | 3,261 | 3,388,383 | ||||
422,808,189 | |||||||
Beverages — 0.1% | |||||||
Anheuser-Busch InBev Worldwide, Inc. (Belgium), | |||||||
Gtd. Notes | |||||||
4.500% | 06/01/50 | 4,158 | 4,463,424 | ||||
5.550% | 01/23/49 | 7,181 | 8,720,415 | ||||
Triton Water Holdings, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.250% | 04/01/29(a) | 1,610 | 1,375,815 | ||||
14,559,654 | |||||||
Building Materials — 0.1% | |||||||
Boral Finance Pty Ltd. (Australia), | |||||||
Gtd. Notes, 144A | |||||||
3.000% | 11/01/22 | 702 | 702,031 | ||||
3.750% | 05/01/28 | 9,148 | 8,962,370 | ||||
Cemex SAB de CV (Mexico), | |||||||
Gtd. Notes | |||||||
5.450% | 11/19/29 | 700 | 708,983 | ||||
CP Atlas Buyer, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
7.000% | 12/01/28 | 795 | 678,547 | ||||
New Enterprise Stone & Lime Co., Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.250% | 07/15/28 | 2,115 | 2,032,451 | ||||
PGT Innovations, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.375% | 10/01/29(a) | 5,985 | 5,582,179 | ||||
Summit Materials LLC/Summit Materials Finance Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.250% | 01/15/29 | 1,230 | 1,215,016 | ||||
6.500% | 03/15/27 | 2,360 | 2,406,869 | ||||
22,288,446 | |||||||
Chemicals — 0.2% | |||||||
CVR Partners LP/CVR Nitrogen Finance Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.125% | 06/15/28(a) | 855 | 858,251 |
A19
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Chemicals (cont’d.) | |||||||
Equate Petrochemical BV (Kuwait), | |||||||
Gtd. Notes, EMTN | |||||||
4.250% | 11/03/26 | 9,560 | $9,679,797 | ||||
GPD Cos., Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
10.125% | 04/01/26(a) | 1,975 | 2,054,134 | ||||
ICL Group Ltd. (Israel), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.375% | 05/31/38 | 1,900 | 2,106,201 | ||||
Kobe US Midco 2, Inc., | |||||||
Sr. Unsec’d. Notes, 144A, Cash coupon 9.250% or PIK 10.000% | |||||||
9.250% | 11/01/26 | 1,290 | 1,254,793 | ||||
LSF11 A5 HoldCo LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.625% | 10/15/29(a) | 1,945 | 1,809,409 | ||||
MEGlobal Canada ULC (Kuwait), | |||||||
Gtd. Notes, 144A, MTN | |||||||
5.875% | 05/18/30 | 260 | 289,298 | ||||
Gtd. Notes, EMTN | |||||||
5.875% | 05/18/30 | 1,000 | 1,112,682 | ||||
Methanex Corp. (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
5.125% | 10/15/27(a) | 970 | 975,000 | ||||
OCI NV (Netherlands), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.625% | 10/15/25(a) | 815 | 822,924 | ||||
Orbia Advance Corp. SAB de CV (Mexico), | |||||||
Gtd. Notes, 144A | |||||||
5.500% | 01/15/48 | 1,600 | 1,572,961 | ||||
PMHC II, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
9.000% | 02/15/30 | 1,670 | 1,475,581 | ||||
Tronox, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.625% | 03/15/29(a) | 1,500 | 1,404,113 | ||||
WR Grace Holdings LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.875% | 06/15/27 | 1,330 | 1,300,891 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.625% | 08/15/29(a) | 1,450 | 1,355,432 | ||||
28,071,467 | |||||||
Commercial Services — 0.3% | |||||||
AA Bond Co. Ltd. (United Kingdom), | |||||||
Sec’d. Notes, 144A | |||||||
6.500% | 01/31/26 | GBP | 345 | 444,027 | |||
Abu Dhabi Ports Co. PJSC (United Arab Emirates), | |||||||
Sr. Unsec’d. Notes, EMTN | |||||||
2.500% | 05/06/31 | 2,000 | 1,848,404 | ||||
Adani International Container Terminal Pvt Ltd. (India), | |||||||
Sr. Sec’d. Notes | |||||||
3.000% | 02/16/31 | 3,072 | 2,737,658 | ||||
Adani Ports & Special Economic Zone Ltd. (India), | |||||||
Sr. Unsec’d. Notes | |||||||
4.375% | 07/03/29 | 500 | 481,069 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Commercial Services (cont’d.) | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.200% | 08/04/27 | 740 | $726,380 | ||||
Adtalem Global Education, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.500% | 03/01/28(a) | 2,265 | 2,190,476 | ||||
Albion Financing 1 Sarl/Aggreko Holdings, Inc. (Luxembourg), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.125% | 10/15/26(a) | 1,990 | 1,920,267 | ||||
Albion Financing 2 Sarl (Luxembourg), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
8.750% | 04/15/27(a) | 2,000 | 1,923,792 | ||||
Allied Universal Holdco LLC/Allied Universal Finance Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.625% | 07/15/26 | 1,155 | 1,169,513 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
9.750% | 07/15/27 | 5,245 | 5,420,779 | ||||
AMN Healthcare, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.625% | 10/01/27 | 885 | 862,972 | ||||
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.750% | 07/15/27(a) | 790 | 789,489 | ||||
5.750% | 07/15/27 | 245 | 245,244 | ||||
CoreLogic, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.500% | 05/01/28(a) | 5,610 | 5,284,711 | ||||
DP World Crescent Ltd. (United Arab Emirates), | |||||||
Sr. Unsec’d. Notes, EMTN | |||||||
3.875% | 07/18/29 | 2,225 | 2,239,182 | ||||
Gartner, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.625% | 06/15/29(a) | 720 | 681,455 | ||||
3.750% | 10/01/30(a) | 410 | 384,975 | ||||
4.500% | 07/01/28(a) | 950 | 946,939 | ||||
HealthEquity, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.500% | 10/01/29 | 1,620 | 1,542,988 | ||||
International Container Terminal Services, Inc. (Philippines), | |||||||
Sr. Unsec’d. Notes | |||||||
4.750% | 06/17/30 | 1,710 | 1,713,766 | ||||
IPD 3 BV (France), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.500% | 12/01/25 | EUR | 255 | 282,022 | |||
Metis Merger Sub LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.500% | 05/15/29 | 2,400 | 2,255,497 | ||||
Nielsen Finance LLC/Nielsen Finance Co., | |||||||
Gtd. Notes, 144A | |||||||
4.500% | 07/15/29 | 1,085 | 1,081,900 | ||||
5.625% | 10/01/28 | 910 | 916,363 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 07/15/31 | 230 | 229,671 | ||||
Prime Security Services Borrower LLC/Prime Finance, Inc., | |||||||
Sec’d. Notes, 144A | |||||||
6.250% | 01/15/28(a) | 1,819 | 1,781,462 |
A20
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Commercial Services (cont’d.) | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.375% | 08/31/27 | 400 | $366,790 | ||||
5.750% | 04/15/26(a) | 1,805 | 1,840,920 | ||||
PROG Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
6.000% | 11/15/29(a) | 3,045 | 2,824,986 | ||||
Rent-A-Center Inc, | |||||||
Gtd. Notes, 144A | |||||||
6.375% | 02/15/29(a) | 2,655 | 2,432,437 | ||||
Sabre GLBL, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
9.250% | 04/15/25(a) | 1,265 | 1,403,017 | ||||
TransJamaican Highway Ltd. (Jamaica), | |||||||
Sr. Sec’d. Notes | |||||||
5.750% | 10/10/36 | 438 | 432,625 | ||||
Sr. Sec’d. Notes, 144A | |||||||
5.750% | 10/10/36 | 452 | 447,046 | ||||
Transurban Finance Co. Pty Ltd. (Australia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
2.450% | 03/16/31 | 2,353 | 2,101,821 | ||||
3.375% | 03/22/27 | 1,519 | 1,513,566 | ||||
4.125% | 02/02/26 | 4,121 | 4,241,252 | ||||
United Rentals North America, Inc., | |||||||
Gtd. Notes | |||||||
3.750% | 01/15/32(a) | 1,330 | 1,240,456 | ||||
WASH Multifamily Acquisition, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.750% | 04/15/26(a) | 1,735 | 1,744,105 | ||||
ZipRecruiter, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.000% | 01/15/30 | 940 | 917,711 | ||||
61,607,733 | |||||||
Computers — 0.1% | |||||||
Apple, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.400% | 08/20/50 | 995 | 822,690 | ||||
2.650% | 05/11/50 | 1,979 | 1,716,030 | ||||
Booz Allen Hamilton, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 07/01/29(a) | 2,195 | 2,143,791 | ||||
Condor Merger Sub, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
7.375% | 02/15/30(a) | 1,700 | 1,630,292 | ||||
Lenovo Group Ltd. (China), | |||||||
Sr. Unsec’d. Notes | |||||||
3.421% | 11/02/30 | 800 | 738,137 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
3.421% | 11/02/30(a) | 555 | 512,083 | ||||
Presidio Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
8.250% | 02/01/28(a) | 3,615 | 3,696,357 | ||||
Sr. Sec’d. Notes, 144A | |||||||
4.875% | 02/01/27(a) | 760 | 751,205 | ||||
12,010,585 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Distribution/Wholesale — 0.0% | |||||||
American Builders & Contractors Supply Co., Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.000% | 01/15/28 | 50 | $48,075 | ||||
H&E Equipment Services, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.875% | 12/15/28 | 1,350 | 1,263,517 | ||||
IAA, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.500% | 06/15/27 | 1,230 | 1,235,998 | ||||
Ritchie Bros Holdings Ltd. (Canada), | |||||||
Gtd. Notes, 144A | |||||||
4.950% | 12/15/29 | CAD | 830 | 644,003 | |||
Ritchie Bros Holdings, Inc. (Canada), | |||||||
Gtd. Notes, 144A | |||||||
4.750% | 12/15/31(a) | 615 | 599,696 | ||||
Univar Solutions USA, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.125% | 12/01/27(a) | 2,230 | 2,230,230 | ||||
6,021,519 | |||||||
Diversified Financial Services — 0.7% | |||||||
Advisor Group Holdings, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
10.750% | 08/01/27(a) | 1,720 | 1,850,131 | ||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland), | |||||||
Gtd. Notes | |||||||
2.450% | 10/29/26 | 3,705 | 3,425,015 | ||||
3.000% | 10/29/28 | 1,860 | 1,714,618 | ||||
3.500% | 01/15/25 | 595 | 584,163 | ||||
4.625% | 07/01/22 | 8,915 | 8,957,091 | ||||
4.625% | 10/15/27(a) | 1,000 | 1,012,212 | ||||
4.875% | 01/16/24 | 1,440 | 1,458,765 | ||||
6.500% | 07/15/25 | 450 | 477,238 | ||||
AG Issuer LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.250% | 03/01/28(a) | 1,230 | 1,230,334 | ||||
Aretec Escrow Issuer, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
7.500% | 04/01/29 | 3,450 | 3,319,464 | ||||
Avolon Holdings Funding Ltd. (Ireland), | |||||||
Gtd. Notes, 144A | |||||||
2.528% | 11/18/27 | 1,449 | 1,289,084 | ||||
3.950% | 07/01/24 | 3,781 | 3,763,180 | ||||
4.375% | 05/01/26 | 2,895 | 2,869,137 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.500% | 01/15/26 | 2,499 | 2,577,024 | ||||
Capital One Bank USA NA, | |||||||
Sub. Notes | |||||||
3.375% | 02/15/23(a) | 21,274 | 21,486,594 | ||||
Capital One Financial Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.273%(ff) | 03/01/30(a) | 1,990 | 1,923,770 | ||||
3.900% | 01/29/24(a) | 1,524 | 1,548,826 | ||||
4.250% | 04/30/25(a) | 5,410 | 5,558,983 |
A21
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Diversified Financial Services (cont’d.) | |||||||
Cobra AcquisitionCo LLC, | |||||||
Gtd. Notes, 144A | |||||||
6.375% | 11/01/29 | 3,140 | $2,687,609 | ||||
Discover Financial Services, | |||||||
Sr. Unsec’d. Notes | |||||||
3.750% | 03/04/25 | 6,225 | 6,290,953 | ||||
4.100% | 02/09/27 | 11,010 | 11,246,596 | ||||
4.500% | 01/30/26 | 750 | 772,908 | ||||
Drawbridge Special Opportunities Fund LP/Drawbridge Special Opportunities Finance Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.875% | 02/15/26 | 1,420 | 1,378,702 | ||||
Enact Holdings, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.500% | 08/15/25(a) | 2,340 | 2,418,271 | ||||
Home Point Capital, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.000% | 02/01/26(a) | 1,210 | 991,615 | ||||
Intercontinental Exchange, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.650% | 09/15/40(a) | 2,007 | 1,722,272 | ||||
Jane Street Group/JSG Finance, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.500% | 11/15/29 | 1,335 | 1,264,618 | ||||
LPL Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 03/15/29(a) | 1,255 | 1,190,807 | ||||
4.375% | 05/15/31(a) | 330 | 319,405 | ||||
LSEGA Financing PLC (United Kingdom), | |||||||
Gtd. Notes, 144A | |||||||
2.500% | 04/06/31(a) | 3,275 | 3,021,907 | ||||
3.200% | 04/06/41 | 1,350 | 1,218,956 | ||||
Gtd. Notes, 144A, MTN | |||||||
2.000% | 04/06/28 | 4,445 | 4,058,012 | ||||
Midcap Financial Issuer Trust, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.625% | 01/15/30(a) | 1,165 | 1,030,894 | ||||
6.500% | 05/01/28(a) | 2,590 | 2,441,284 | ||||
Navient Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.875% | 03/15/28(a) | 810 | 745,478 | ||||
5.500% | 03/15/29(a) | 2,125 | 1,985,895 | ||||
OneMain Finance Corp., | |||||||
Gtd. Notes | |||||||
3.500% | 01/15/27 | 1,360 | 1,259,344 | ||||
6.625% | 01/15/28(a) | 275 | 288,031 | ||||
7.125% | 03/15/26(a) | 510 | 545,204 | ||||
PennyMac Financial Services, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.250% | 02/15/29(a) | 1,925 | 1,651,527 | ||||
5.375% | 10/15/25(a) | 1,260 | 1,245,325 | ||||
SLM Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.200% | 10/29/25(a) | 1,575 | 1,562,885 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Diversified Financial Services (cont’d.) | |||||||
Synchrony Financial, | |||||||
Sr. Unsec’d. Notes | |||||||
4.250% | 08/15/24 | 1,035 | $1,050,337 | ||||
4.375% | 03/19/24 | 1,397 | 1,421,342 | ||||
United Wholesale Mortgage LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.500% | 04/15/29(a) | 1,595 | 1,421,880 | ||||
5.750% | 06/15/27(a) | 990 | 920,052 | ||||
Visa, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.000% | 08/15/50(a) | 4,550 | 3,530,747 | ||||
VistaJet Malta Finance PLC/XO Management Holding, Inc. (Switzerland), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.375% | 02/01/30(a) | 815 | 766,970 | ||||
125,495,455 | |||||||
Electric — 0.6% | |||||||
Acwa Power Management & Investments One Ltd. (Saudi Arabia), | |||||||
Sr. Sec’d. Notes | |||||||
5.950% | 12/15/39 | 1,597 | 1,717,789 | ||||
AES Andes SA (Chile), | |||||||
Jr. Sub. Notes, 144A | |||||||
6.350%(ff) | 10/07/79 | 825 | 816,029 | ||||
7.125%(ff) | 03/26/79 | 1,700 | 1,711,100 | ||||
Ausgrid Finance Pty Ltd. (Australia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.850% | 05/01/23 | 2,734 | 2,751,252 | ||||
4.350% | 08/01/28 | 4,277 | 4,355,682 | ||||
CA La Electricidad de Caracas (Venezuela), | |||||||
Sr. Unsec’d. Notes | |||||||
8.500% | 04/10/18(d) | 900 | 6,750 | ||||
Calpine Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.500% | 02/15/28(a) | 465 | 453,748 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.000% | 02/01/31(a) | 2,280 | 2,076,513 | ||||
Cometa Energia SA de CV (Mexico), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.375% | 04/24/35(a) | 3,057 | 3,086,168 | ||||
Comision Federal de Electricidad (Mexico), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.875% | 01/15/24 | 585 | 598,138 | ||||
Consorcio Transmantaro SA (Peru), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.700% | 04/16/34(a) | 500 | 502,467 | ||||
Edison International, | |||||||
Sr. Unsec’d. Notes | |||||||
4.950% | 04/15/25 | 169 | 173,550 | ||||
Enel Finance International NV (Italy), | |||||||
Gtd. Notes, 144A | |||||||
3.500% | 04/06/28 | 1,430 | 1,420,497 | ||||
FirstEnergy Corp., | |||||||
Sr. Unsec’d. Notes, Series C | |||||||
7.375% | 11/15/31 | 850 | 1,049,713 |
A22
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
Infraestructura Energetica Nova SAB de CV (Mexico), | |||||||
Sr. Unsec’d. Notes | |||||||
4.750% | 01/15/51 | 925 | $803,244 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.875% | 01/14/48 | 700 | 607,877 | ||||
Israel Electric Corp. Ltd. (Israel), | |||||||
Sr. Sec’d. Notes, 144A, GMTN | |||||||
4.250% | 08/14/28 | 1,495 | 1,507,344 | ||||
Lamar Funding Ltd. (Oman), | |||||||
Gtd. Notes | |||||||
3.958% | 05/07/25 | 2,000 | 1,959,415 | ||||
Minejesa Capital BV (Indonesia), | |||||||
Sr. Sec’d. Notes | |||||||
5.625% | 08/10/37 | 2,850 | 2,594,945 | ||||
Mong Duong Finance Holdings BV (Vietnam), | |||||||
Sr. Sec’d. Notes | |||||||
5.125% | 05/07/29 | 350 | 315,096 | ||||
Sr. Sec’d. Notes, 144A | |||||||
5.125% | 05/07/29 | 525 | 472,644 | ||||
NextEra Energy Capital Holdings, Inc., | |||||||
Gtd. Notes | |||||||
2.440% | 01/15/32(a) | 4,395 | 4,019,934 | ||||
3.000% | 01/15/52(a) | 4,040 | 3,452,372 | ||||
NextEra Energy Operating Partners LP, | |||||||
Gtd. Notes, 144A | |||||||
4.250% | 09/15/24 | 63 | 63,720 | ||||
4.500% | 09/15/27(a) | 3,040 | 3,030,044 | ||||
NRG Energy, Inc., | |||||||
Gtd. Notes | |||||||
5.750% | 01/15/28 | 1,340 | 1,362,176 | ||||
6.625% | 01/15/27 | 567 | 585,137 | ||||
Gtd. Notes, 144A | |||||||
3.875% | 02/15/32 | 2,330 | 2,058,027 | ||||
5.250% | 06/15/29(a) | 925 | 903,658 | ||||
Sr. Sec’d. Notes, 144A | |||||||
4.450% | 06/15/29 | 2,487 | 2,496,688 | ||||
Oryx Funding Ltd. (Oman), | |||||||
Gtd. Notes | |||||||
5.800% | 02/03/31 | 800 | 802,248 | ||||
Gtd. Notes, 144A | |||||||
5.800% | 02/03/31 | 230 | 230,646 | ||||
Pacific Gas & Electric Co., | |||||||
First Mortgage | |||||||
2.100% | 08/01/27(a) | 1,857 | 1,669,552 | ||||
2.500% | 02/01/31 | 3,741 | 3,218,904 | ||||
3.950% | 12/01/47 | 1,900 | 1,574,296 | ||||
4.550% | 07/01/30 | 3,701 | 3,672,242 | ||||
Pattern Energy Operations LP/Pattern Energy Operations, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.500% | 08/15/28 | 345 | 339,484 | ||||
Perusahaan Listrik Negara PT (Indonesia), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.875% | 07/17/29(a) | 2,265 | 2,223,612 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
6.150% | 05/21/48 | 300 | 334,646 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
PG&E Corp., | |||||||
Sr. Sec’d. Notes | |||||||
5.000% | 07/01/28(a) | 3,075 | $2,971,391 | ||||
5.250% | 07/01/30(a) | 1,370 | 1,327,242 | ||||
Pike Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.500% | 09/01/28 | 990 | 931,528 | ||||
Ruwais Power Co. PJSC (United Arab Emirates), | |||||||
Sr. Sec’d. Notes | |||||||
6.000% | 08/31/36 | 1,640 | 2,027,750 | ||||
Saudi Electricity Global Sukuk Co. 4 (Saudi Arabia), | |||||||
Sr. Unsec’d. Notes | |||||||
4.723% | 09/27/28 | 5,800 | 6,361,105 | ||||
Sempra Energy, | |||||||
Sr. Unsec’d. Notes | |||||||
3.700% | 04/01/29 | 1,090 | 1,096,409 | ||||
State Grid Overseas Investment 2013 Ltd. (China), | |||||||
Gtd. Notes | |||||||
4.375% | 05/22/43 | 605 | 660,069 | ||||
State Grid Overseas Investment 2014 Ltd. (China), | |||||||
Gtd. Notes | |||||||
4.850% | 05/07/44 | 1,200 | 1,397,738 | ||||
State Grid Overseas Investment BVI Ltd. (China), | |||||||
Gtd. Notes, EMTN | |||||||
3.500% | 05/04/27 | 700 | 706,956 | ||||
Terraform Global Operating LLC, | |||||||
Gtd. Notes, 144A | |||||||
6.125% | 03/01/26 | 2,645 | 2,629,264 | ||||
TNB Global Ventures Capital Bhd (Malaysia), | |||||||
Sr. Unsec’d. Notes, EMTN | |||||||
3.244% | 10/19/26 | 6,400 | 6,312,360 | ||||
Vistra Corp., | |||||||
Jr. Sub. Notes, 144A | |||||||
7.000%(ff) | 12/15/26(oo) | 3,295 | 3,207,571 | ||||
8.000%(ff) | 10/15/26(oo) | 2,800 | 2,817,287 | ||||
Vistra Operations Co. LLC, | |||||||
Gtd. Notes, 144A | |||||||
4.375% | 05/01/29(a) | 4,175 | 3,944,812 | ||||
5.500% | 09/01/26(a) | 975 | 980,028 | ||||
5.625% | 02/15/27 | 1,625 | 1,624,168 | ||||
Sr. Sec’d. Notes, 144A | |||||||
3.550% | 07/15/24 | 8,288 | 8,214,114 | ||||
108,227,139 | |||||||
Electronics — 0.1% | |||||||
AAC Technologies Holdings, Inc. (China), | |||||||
Sr. Unsec’d. Notes | |||||||
2.625% | 06/02/26 | 1,175 | 1,055,620 | ||||
Arrow Electronics, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 04/01/25(a) | 4,883 | 4,954,230 | ||||
Sensata Technologies BV, | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 04/15/29(a) | 825 | 785,332 |
A23
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electronics (cont’d.) | |||||||
Sensata Technologies, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.750% | 02/15/31 | 2,310 | $2,139,938 | ||||
8,935,120 | |||||||
Engineering & Construction — 0.1% | |||||||
Aeropuerto Internacional de Tocumen SA (Panama), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.000% | 08/11/41(a) | 560 | 509,865 | ||||
HTA Group Ltd. (Tanzania), | |||||||
Gtd. Notes, 144A | |||||||
7.000% | 12/18/25 | 870 | 863,093 | ||||
Mexico City Airport Trust (Mexico), | |||||||
Sr. Sec’d. Notes | |||||||
5.500% | 07/31/47 | 11,321 | 9,985,671 | ||||
11,358,629 | |||||||
Entertainment — 0.3% | |||||||
Affinity Gaming, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.875% | 12/15/27 | 340 | 332,129 | ||||
Caesars Entertainment, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.250% | 07/01/25(a) | 1,430 | 1,478,012 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.625% | 10/15/29(a) | 910 | 853,481 | ||||
8.125% | 07/01/27(a) | 4,025 | 4,317,274 | ||||
CCM Merger, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.375% | 05/01/26 | 1,165 | 1,178,096 | ||||
CDI Escrow Issuer, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.750% | 04/01/30 | 3,075 | 3,107,897 | ||||
Cedar Fair LP, | |||||||
Gtd. Notes | |||||||
5.250% | 07/15/29(a) | 1,830 | 1,786,665 | ||||
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Operations LLC, | |||||||
Gtd. Notes | |||||||
6.500% | 10/01/28(a) | 770 | 784,456 | ||||
Sr. Sec’d. Notes, 144A | |||||||
5.500% | 05/01/25(a) | 1,590 | 1,633,183 | ||||
Cirsa Finance International Sarl (Spain), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.500% | 03/15/27 | EUR | 695 | 727,590 | |||
Everi Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.000% | 07/15/29 | 625 | 592,192 | ||||
International Game Technology PLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.125% | 04/15/26(a) | 2,550 | 2,518,044 | ||||
5.250% | 01/15/29(a) | 1,120 | 1,117,485 | ||||
6.500% | 02/15/25(a) | 265 | 278,111 | ||||
Lions Gate Capital Holdings LLC, | |||||||
Gtd. Notes, 144A | |||||||
5.500% | 04/15/29(a) | 1,460 | 1,407,188 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Entertainment (cont’d.) | |||||||
Live Nation Entertainment, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.750% | 10/15/27(a) | 4,425 | $4,315,382 | ||||
Magallanes, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.755% | 03/15/27(a) | 2,580 | 2,576,256 | ||||
4.054% | 03/15/29(a) | 1,930 | 1,939,417 | ||||
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.875% | 05/01/29(a) | 1,530 | 1,412,572 | ||||
Peninsula Pacific Entertainment LLC/Peninsula Pacific Entertainment Finance, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
8.500% | 11/15/27 | 830 | 918,315 | ||||
Raptor Acquisition Corp./Raptor Co-Issuer LLC (Canada), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.875% | 11/01/26 | 870 | 833,211 | ||||
Scientific Games Holdings LP/Scientific Games US FinCo, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.625% | 03/01/30(a) | 1,570 | 1,547,080 | ||||
Scientific Games International, Inc., | |||||||
Gtd. Notes, 144A | |||||||
7.250% | 11/15/29(a) | 3,475 | 3,641,274 | ||||
SeaWorld Parks & Entertainment, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.250% | 08/15/29(a) | 3,525 | 3,366,462 | ||||
Vail Resorts, Inc., | |||||||
Gtd. Notes, 144A | |||||||
6.250% | 05/15/25 | 725 | 750,280 | ||||
WMG Acquisition Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.750% | 12/01/29 | 1,365 | 1,279,821 | ||||
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.125% | 10/01/29(a) | 690 | 649,489 | ||||
45,341,362 | |||||||
Environmental Control — 0.1% | |||||||
GFL Environmental, Inc. (Canada), | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 08/01/28(a) | 1,635 | 1,503,659 | ||||
4.375% | 08/15/29(a) | 1,040 | 968,739 | ||||
4.750% | 06/15/29(a) | 4,280 | 4,081,977 | ||||
Madison IAQ LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.125% | 06/30/28(a) | 1,505 | 1,387,805 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.875% | 06/30/29(a) | 1,155 | 1,035,582 | ||||
8,977,762 | |||||||
Foods — 0.1% | |||||||
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC, | |||||||
Gtd. Notes, 144A | |||||||
3.250% | 03/15/26(a) | 900 | 850,233 | ||||
3.500% | 03/15/29 | 930 | 839,534 | ||||
4.625% | 01/15/27(a) | 430 | 416,177 |
A24
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Foods (cont’d.) | |||||||
4.875% | 02/15/30(a) | 6,330 | $6,141,719 | ||||
Chobani LLC/Chobani Finance Corp., Inc., | |||||||
Gtd. Notes, 144A | |||||||
7.500% | 04/15/25(a) | 1,395 | 1,349,099 | ||||
Sr. Sec’d. Notes, 144A | |||||||
4.625% | 11/15/28 | 400 | 369,064 | ||||
Kraft Heinz Foods Co., | |||||||
Gtd. Notes | |||||||
4.250% | 03/01/31(a) | 985 | 1,016,524 | ||||
6.875% | 01/26/39 | 270 | 332,880 | ||||
New Albertsons LP, | |||||||
Sr. Unsec’d. Notes | |||||||
7.450% | 08/01/29 | 55 | 59,235 | ||||
Sigma Holdco BV (Netherlands), | |||||||
Gtd. Notes, 144A | |||||||
7.875% | 05/15/26 | 335 | 278,068 | ||||
Tingyi Cayman Islands Holding Corp. (China), | |||||||
Sr. Unsec’d. Notes | |||||||
1.625% | 09/24/25 | 930 | 864,884 | ||||
United Natural Foods, Inc., | |||||||
Gtd. Notes, 144A | |||||||
6.750% | 10/15/28(a) | 1,200 | 1,229,731 | ||||
13,747,148 | |||||||
Forest Products & Paper — 0.0% | |||||||
Celulosa Arauco y Constitucion SA (Chile), | |||||||
Sr. Unsec’d. Notes | |||||||
5.150% | 01/29/50 | 1,500 | 1,486,395 | ||||
Mercer International, Inc. (Germany), | |||||||
Sr. Unsec’d. Notes | |||||||
5.500% | 01/15/26(a) | 745 | 749,760 | ||||
2,236,155 | |||||||
Gas — 0.1% | |||||||
APT Pipelines Ltd. (Australia), | |||||||
Gtd. Notes, 144A | |||||||
4.200% | 03/23/25 | 4,550 | 4,619,755 | ||||
4.250% | 07/15/27 | 3,146 | 3,226,152 | ||||
NiSource, Inc., | |||||||
Jr. Sub. Notes | |||||||
5.650%(ff) | 06/15/23(oo) | 815 | 797,698 | ||||
Sr. Unsec’d. Notes | |||||||
3.600% | 05/01/30(a) | 2,607 | 2,586,941 | ||||
11,230,546 | |||||||
Healthcare-Products — 0.1% | |||||||
Avantor Funding, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.625% | 07/15/28(a) | 1,565 | 1,545,671 | ||||
Baxter International, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.272% | 12/01/28(a) | 2,530 | 2,343,902 | ||||
Mozart Debt Merger Sub, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 04/01/29 | 5,430 | 5,022,497 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Healthcare-Products (cont’d.) | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.250% | 10/01/29(a) | 5,110 | $4,754,297 | ||||
PerkinElmer, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.900% | 09/15/28 | 2,904 | 2,627,366 | ||||
2.250% | 09/15/31(a) | 1,574 | 1,392,403 | ||||
3.300% | 09/15/29 | 1,955 | 1,908,647 | ||||
19,594,783 | |||||||
Healthcare-Services — 0.4% | |||||||
Acadia Healthcare Co., Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.000% | 04/15/29 | 930 | 917,808 | ||||
Akumin, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.000% | 11/01/25(a) | 1,480 | 1,228,701 | ||||
Cano Health LLC, | |||||||
Gtd. Notes, 144A | |||||||
6.250% | 10/01/28(a) | 2,000 | 1,932,821 | ||||
Centene Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.500% | 03/01/31(a) | 5,245 | 4,644,403 | ||||
2.625% | 08/01/31(a) | 1,595 | 1,420,071 | ||||
3.000% | 10/15/30(a) | 12,420 | 11,442,827 | ||||
4.250% | 12/15/27 | 90 | 90,347 | ||||
4.625% | 12/15/29 | 2,890 | 2,919,821 | ||||
CHS/Community Health Systems, Inc., | |||||||
Gtd. Notes, 144A | |||||||
6.875% | 04/01/28(a) | 680 | 617,409 | ||||
Sec’d. Notes, 144A | |||||||
6.125% | 04/01/30(a) | 850 | 793,073 | ||||
6.875% | 04/15/29(a) | 2,725 | 2,667,754 | ||||
Sr. Sec’d. Notes, 144A | |||||||
5.250% | 05/15/30(a) | 1,630 | 1,565,536 | ||||
6.000% | 01/15/29(a) | 1,250 | 1,264,392 | ||||
8.000% | 12/15/27(a) | 1,340 | 1,421,132 | ||||
DaVita, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.625% | 06/01/30 | 305 | 285,056 | ||||
Hadrian Merger Sub, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
8.500% | 05/01/26 | 3,419 | 3,436,095 | ||||
HCA, Inc., | |||||||
Gtd. Notes | |||||||
5.625% | 09/01/28(a) | 330 | 356,735 | ||||
5.875% | 02/01/29 | 1,000 | 1,096,479 | ||||
Sr. Sec’d. Notes, 144A | |||||||
3.125% | 03/15/27(a) | 1,760 | 1,719,667 | ||||
3.375% | 03/15/29 | 695 | 676,382 | ||||
Humana, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.700% | 03/23/29 | 1,280 | 1,284,003 | ||||
4.875% | 04/01/30 | 3,098 | 3,346,486 | ||||
Legacy LifePoint Health LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.375% | 02/15/27(a) | 735 | 710,941 |
A25
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Healthcare-Services (cont’d.) | |||||||
Molina Healthcare, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.375% | 06/15/28(a) | 1,025 | $1,013,352 | ||||
Radiology Partners, Inc., | |||||||
Gtd. Notes, 144A | |||||||
9.250% | 02/01/28(a) | 3,345 | 3,360,984 | ||||
RP Escrow Issuer LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.250% | 12/15/25(a) | 525 | 513,463 | ||||
Select Medical Corp., | |||||||
Gtd. Notes, 144A | |||||||
6.250% | 08/15/26 | 105 | 108,455 | ||||
St. Joseph’s University Medical Center, Inc., | |||||||
Sec’d. Notes | |||||||
4.584% | 07/01/27 | 8,000 | 8,122,911 | ||||
Surgery Center Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
10.000% | 04/15/27(a) | 1,245 | 1,310,807 | ||||
Tenet Healthcare Corp., | |||||||
Gtd. Notes, 144A | |||||||
6.125% | 10/01/28(a) | 1,880 | 1,910,921 | ||||
Sr. Sec’d. Notes, 144A | |||||||
4.375% | 01/15/30 | 2,535 | 2,435,540 | ||||
Sr. Unsec’d. Notes | |||||||
6.875% | 11/15/31 | 780 | 844,122 | ||||
U.S. Renal Care, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
10.625% | 07/15/27 | 1,250 | 1,193,618 | ||||
UnitedHealth Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.000% | 05/15/30(a) | 1,555 | 1,435,504 | ||||
2.750% | 05/15/40 | 2,044 | 1,833,828 | ||||
3.700% | 08/15/49 | 6,656 | 6,774,451 | ||||
4.450% | 12/15/48 | 2,722 | 3,067,597 | ||||
79,763,492 | |||||||
Home Builders — 0.0% | |||||||
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.000% | 06/15/29 | 1,870 | 1,718,562 | ||||
Shea Homes LP/Shea Homes Funding Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 02/15/28 | 190 | 180,489 | ||||
Taylor Morrison Communities, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.125% | 08/01/30(a) | 455 | 444,800 | ||||
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.875% | 04/15/23 | 735 | 746,146 | ||||
3,089,997 | |||||||
Home Furnishings — 0.0% | |||||||
Controladora Mabe SA de CV (Mexico), | |||||||
Gtd. Notes, 144A | |||||||
5.600% | 10/23/28 | 1,095 | 1,164,776 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Insurance — 0.2% | |||||||
Acrisure LLC/Acrisure Finance, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
10.125% | 08/01/26(a) | 2,658 | $2,845,233 | ||||
Aflac, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.600% | 04/01/30 | 872 | 900,812 | ||||
AIA Group Ltd. (Hong Kong), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.900% | 04/06/28 | 7,625 | 7,808,286 | ||||
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.875% | 11/01/29(a) | 840 | 807,466 | ||||
6.750% | 10/15/27(a) | 4,625 | 4,573,044 | ||||
AmWINS Group, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.875% | 06/30/29(a) | 1,850 | 1,767,247 | ||||
Berkshire Hathaway Finance Corp., | |||||||
Gtd. Notes | |||||||
2.500% | 01/15/51 | 1,315 | 1,068,979 | ||||
CNO Financial Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.250% | 05/30/25(a) | 1,790 | 1,869,209 | ||||
Equitable Holdings, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.350% | 04/20/28 | 8,451 | 8,711,045 | ||||
GTCR AP Finance, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
8.000% | 05/15/27(a) | 2,970 | 3,003,166 | ||||
HUB International Ltd., | |||||||
Gtd. Notes, 144A | |||||||
7.000% | 05/01/26(a) | 3,790 | 3,836,518 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.625% | 12/01/29(a) | 5,010 | 4,883,289 | ||||
Marsh & McLennan Cos., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 11/15/30(a) | 1,512 | 1,382,224 | ||||
Ryan Specialty Group LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.375% | 02/01/30 | 915 | 868,024 | ||||
44,324,542 | |||||||
Internet — 0.2% | |||||||
Alphabet, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.050% | 08/15/50 | 4,695 | 3,714,469 | ||||
Arches Buyer, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.250% | 06/01/28(a) | 885 | 823,910 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
6.125% | 12/01/28 | 1,810 | 1,669,650 | ||||
Go Daddy Operating Co. LLC/GD Finance Co., Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.250% | 12/01/27(a) | 1,680 | 1,688,896 | ||||
Match Group Holdings II LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.625% | 10/01/31(a) | 3,150 | 2,836,130 |
A26
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Internet (cont’d.) | |||||||
4.125% | 08/01/30(a) | 3,120 | $2,923,554 | ||||
4.625% | 06/01/28(a) | 755 | 731,431 | ||||
5.625% | 02/15/29(a) | 1,590 | 1,579,156 | ||||
Millennium Escrow Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.625% | 08/01/26(a) | 1,230 | 1,165,051 | ||||
Netflix, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
6.375% | 05/15/29 | 2,060 | 2,333,408 | ||||
Photo Holdings Merger Sub, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
8.500% | 10/01/26(a) | 3,595 | 3,419,201 | ||||
Tencent Holdings Ltd. (China), | |||||||
Sr. Unsec’d. Notes, EMTN | |||||||
3.290% | 06/03/60 | 200 | 151,424 | ||||
3.840% | 04/22/51 | 200 | 174,576 | ||||
Twitter, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.000% | 03/01/30 | 2,580 | 2,569,092 | ||||
Uber Technologies, Inc., | |||||||
Gtd. Notes, 144A | |||||||
7.500% | 05/15/25 | 745 | 777,332 | ||||
7.500% | 09/15/27(a) | 980 | 1,045,696 | ||||
8.000% | 11/01/26(a) | 1,820 | 1,933,773 | ||||
29,536,749 | |||||||
Investment Companies — 0.0% | |||||||
Hightower Holding LLC, | |||||||
Gtd. Notes, 144A | |||||||
6.750% | 04/15/29(a) | 1,500 | 1,476,182 | ||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp., | |||||||
Gtd. Notes | |||||||
5.250% | 05/15/27 | 620 | 608,981 | ||||
6.250% | 05/15/26(a) | 700 | 718,347 | ||||
2,803,510 | |||||||
Iron/Steel — 0.0% | |||||||
Allegheny Technologies, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.875% | 12/01/27(a) | 2,490 | 2,487,917 | ||||
Big River Steel LLC/BRS Finance Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.625% | 01/31/29 | 2,244 | 2,357,015 | ||||
Carpenter Technology Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
7.625% | 03/15/30 | 1,365 | 1,394,733 | ||||
Periama Holdings LLC (India), | |||||||
Gtd. Notes | |||||||
5.950% | 04/19/26 | 1,400 | 1,426,765 | ||||
TMS International Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.250% | 04/15/29 | 640 | 607,470 | ||||
Vale Overseas Ltd. (Brazil), | |||||||
Gtd. Notes | |||||||
3.750% | 07/08/30 | 500 | 482,072 | ||||
8,755,972 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Leisure Time — 0.1% | |||||||
Carnival Corp., | |||||||
Gtd. Notes, 144A | |||||||
6.000% | 05/01/29(a) | 1,465 | $1,380,483 | ||||
Sr. Sec’d. Notes, 144A | |||||||
4.000% | 08/01/28 | 1,130 | 1,053,293 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.750% | 03/01/27(a) | 3,600 | 3,431,423 | ||||
7.625% | 03/01/26(a) | 3,895 | 3,921,322 | ||||
Deuce Finco PLC (United Kingdom), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.500% | 06/15/27 | GBP | 440 | 552,311 | |||
Life Time, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.750% | 01/15/26 | 245 | 244,719 | ||||
NCL Corp. Ltd., | |||||||
Gtd. Notes, 144A | |||||||
5.875% | 03/15/26 | 1,315 | 1,249,934 | ||||
Sr. Sec’d. Notes, 144A | |||||||
5.875% | 02/15/27(a) | 975 | 962,838 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
7.750% | 02/15/29(a) | 795 | 805,248 | ||||
NCL Finance Ltd., | |||||||
Gtd. Notes, 144A | |||||||
6.125% | 03/15/28(a) | 235 | 218,417 | ||||
Royal Caribbean Cruises Ltd., | |||||||
Gtd. Notes, 144A | |||||||
9.125% | 06/15/23 | 180 | 187,621 | ||||
Sr. Sec’d. Notes, 144A | |||||||
10.875% | 06/01/23 | 1,580 | 1,683,011 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.375% | 07/15/27(a) | 2,410 | 2,303,314 | ||||
5.500% | 08/31/26(a) | 2,330 | 2,264,122 | ||||
5.500% | 04/01/28(a) | 3,225 | 3,081,583 | ||||
23,339,639 | |||||||
Lodging — 0.1% | |||||||
Hilton Domestic Operating Co., Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 05/01/31 | 3,615 | 3,412,326 | ||||
5.750% | 05/01/28(a) | 610 | 631,276 | ||||
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., | |||||||
Gtd. Notes | |||||||
4.875% | 04/01/27 | 115 | 115,894 | ||||
Las Vegas Sands Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.500% | 08/18/26(a) | 2,032 | 1,918,150 | ||||
Melco Resorts Finance Ltd. (Hong Kong), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.375% | 12/04/29(a) | 485 | 413,803 | ||||
MGM China Holdings Ltd. (Macau), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 02/01/27(a) | 1,450 | 1,268,170 | ||||
5.875% | 05/15/26 | 295 | 269,881 | ||||
MGM Resorts International, | |||||||
Gtd. Notes | |||||||
4.750% | 10/15/28(a) | 705 | 681,564 |
A27
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Lodging (cont’d.) | |||||||
6.000% | 03/15/23(a) | 1,200 | $1,227,823 | ||||
Sands China Ltd. (Macau), | |||||||
Sr. Unsec’d. Notes | |||||||
4.375% | 06/18/30 | 600 | 545,666 | ||||
5.400% | 08/08/28 | 200 | 196,924 | ||||
Studio City Finance Ltd. (Macau), | |||||||
Gtd. Notes, 144A | |||||||
5.000% | 01/15/29(a) | 425 | 328,458 | ||||
6.500% | 01/15/28 | 200 | 172,092 | ||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.500% | 03/01/25(a) | 157 | 157,063 | ||||
Wynn Macau Ltd. (Macau), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.500% | 01/15/26 | 1,590 | 1,433,434 | ||||
5.500% | 10/01/27(a) | 415 | 359,503 | ||||
13,132,027 | |||||||
Machinery-Construction & Mining — 0.0% | |||||||
BWX Technologies, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.125% | 04/15/29(a) | 1,475 | 1,420,140 | ||||
Machinery-Diversified — 0.0% | |||||||
Mueller Water Products, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 06/15/29(a) | 975 | 917,812 | ||||
TK Elevator Holdco GmbH (Germany), | |||||||
Gtd. Notes, 144A | |||||||
7.625% | 07/15/28(a) | 2,965 | 2,966,643 | ||||
TK Elevator US Newco, Inc. (Germany), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.250% | 07/15/27(a) | 3,550 | 3,523,060 | ||||
7,407,515 | |||||||
Media — 0.7% | |||||||
Altice Financing SA (Luxembourg), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.000% | 01/15/28(a) | 3,910 | 3,509,951 | ||||
5.750% | 08/15/29(a) | 1,990 | 1,810,109 | ||||
Cable One, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.000% | 11/15/30(a) | 2,750 | 2,537,072 | ||||
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.500% | 05/01/32 | 970 | 887,664 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.250% | 02/01/31(a) | 1,180 | 1,075,549 | ||||
4.250% | 01/15/34 | 970 | 841,124 | ||||
4.500% | 08/15/30(a) | 3,945 | 3,704,249 | ||||
4.500% | 06/01/33(a) | 2,710 | 2,432,225 | ||||
5.000% | 02/01/28 | 710 | 703,067 | ||||
5.375% | 06/01/29(a) | 2,785 | 2,779,909 | ||||
Charter Communications Operating LLC/Charter Communications Operating Capital, | |||||||
Sr. Sec’d. Notes | |||||||
2.250% | 01/15/29 | 2,528 | 2,281,305 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Media (cont’d.) | |||||||
2.800% | 04/01/31 | 1,780 | $1,608,552 | ||||
3.700% | 04/01/51 | 6,539 | 5,319,769 | ||||
3.750% | 02/15/28 | 4,670 | 4,627,972 | ||||
4.800% | 03/01/50 | 400 | 381,159 | ||||
4.908% | 07/23/25 | 7,980 | 8,263,027 | ||||
5.375% | 05/01/47 | 260 | 265,788 | ||||
6.484% | 10/23/45 | 1,059 | 1,206,983 | ||||
Comcast Corp., | |||||||
Gtd. Notes | |||||||
2.650% | 02/01/30(a) | 8,470 | 8,138,915 | ||||
3.900% | 03/01/38 | 1,876 | 1,925,629 | ||||
Gtd. Notes, 144A | |||||||
2.887% | 11/01/51 | 7,125 | 6,048,966 | ||||
2.937% | 11/01/56 | 646 | 538,754 | ||||
CSC Holdings LLC, | |||||||
Gtd. Notes, 144A | |||||||
6.500% | 02/01/29 | 4,785 | 4,827,951 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.625% | 12/01/30(a) | 3,160 | 2,640,127 | ||||
Diamond Sports Group LLC/Diamond Sports Finance Co., | |||||||
Gtd. Notes, 144A | |||||||
6.625% | 08/15/27 | 940 | 194,365 | ||||
Directv Financing LLC/Directv Financing Co-Obligor, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.875% | 08/15/27 | 2,060 | 2,030,785 | ||||
DISH DBS Corp., | |||||||
Gtd. Notes | |||||||
5.125% | 06/01/29(a) | 900 | 766,213 | ||||
7.375% | 07/01/28(a) | 805 | 763,832 | ||||
7.750% | 07/01/26(a) | 745 | 739,455 | ||||
Sr. Sec’d. Notes, 144A | |||||||
5.250% | 12/01/26 | 1,290 | 1,230,877 | ||||
5.750% | 12/01/28 | 2,185 | 2,074,371 | ||||
GCI LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 10/15/28 | 3,075 | 3,008,184 | ||||
Globo Comunicacao e Participacoes SA (Brazil), | |||||||
Sr. Unsec’d. Notes | |||||||
4.875% | 01/22/30 | 2,300 | 2,032,378 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.500% | 01/14/32 | 8,100 | 7,298,242 | ||||
Gray Escrow II, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.375% | 11/15/31(a) | 1,220 | 1,166,939 | ||||
Gray Television, Inc., | |||||||
Gtd. Notes, 144A | |||||||
7.000% | 05/15/27(a) | 4,050 | 4,223,853 | ||||
iHeartCommunications, Inc., | |||||||
Gtd. Notes | |||||||
8.375% | 05/01/27(a) | 5,080 | 5,251,501 | ||||
LCPR Senior Secured Financing DAC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.125% | 07/15/29(a) | 2,250 | 2,149,951 | ||||
6.750% | 10/15/27(a) | 1,744 | 1,789,899 |
A28
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Media (cont’d.) | |||||||
Midcontinent Communications/Midcontinent Finance Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.375% | 08/15/27 | 740 | $743,506 | ||||
Radiate Holdco LLC/Radiate Finance, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.500% | 09/15/26(a) | 590 | 569,215 | ||||
Scripps Escrow, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.875% | 07/15/27(a) | 2,570 | 2,573,730 | ||||
Sirius XM Radio, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.875% | 09/01/31 | 375 | 341,277 | ||||
4.000% | 07/15/28(a) | 4,305 | 4,094,400 | ||||
4.125% | 07/01/30(a) | 1,765 | 1,653,856 | ||||
5.500% | 07/01/29(a) | 1,775 | 1,800,999 | ||||
Townsquare Media, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.875% | 02/01/26(a) | 3,035 | 3,124,239 | ||||
Univision Communications, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.500% | 05/01/29(a) | 2,835 | 2,698,585 | ||||
6.625% | 06/01/27(a) | 880 | 922,089 | ||||
Urban One, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.375% | 02/01/28 | 975 | 978,416 | ||||
Virgin Media Finance PLC (United Kingdom), | |||||||
Gtd. Notes, 144A | |||||||
5.000% | 07/15/30(a) | 525 | 496,225 | ||||
Virgin Media Vendor Financing Notes IV DAC (United Kingdom), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.000% | 07/15/28(a) | 2,530 | 2,428,800 | ||||
VTR Comunicaciones SpA (Chile), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.375% | 04/15/29 | 1,400 | 1,280,826 | ||||
Walt Disney Co. (The), | |||||||
Gtd. Notes | |||||||
3.800% | 03/22/30(a) | 3,709 | 3,862,760 | ||||
Ziggo Bond Co. BV (Netherlands), | |||||||
Gtd. Notes, 144A | |||||||
5.125% | 02/28/30(a) | 435 | 405,029 | ||||
131,050,613 | |||||||
Metal Fabricate/Hardware — 0.0% | |||||||
Roller Bearing Co. of America, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.375% | 10/15/29(a) | 895 | 835,423 | ||||
Mining — 0.2% | |||||||
Alcoa Nederland Holding BV, | |||||||
Gtd. Notes, 144A | |||||||
5.500% | 12/15/27 | 910 | 942,447 | ||||
6.125% | 05/15/28 | 2,470 | 2,595,221 | ||||
Arconic Corp., | |||||||
Sec’d. Notes, 144A | |||||||
6.125% | 02/15/28 | 1,755 | 1,762,854 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Mining (cont’d.) | |||||||
Compass Minerals International, Inc., | |||||||
Gtd. Notes, 144A | |||||||
6.750% | 12/01/27 | 335 | $339,038 | ||||
Constellium SE, | |||||||
Gtd. Notes, 144A | |||||||
5.625% | 06/15/28(a) | 3,145 | 3,161,314 | ||||
Corp. Nacional del Cobre de Chile (Chile), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.000% | 09/30/29(a) | 8,730 | 8,333,299 | ||||
3.150% | 01/14/30 | 1,555 | 1,496,191 | ||||
3.700% | 01/30/50 | 245 | 220,649 | ||||
ERO Copper Corp. (Brazil), | |||||||
Gtd. Notes, 144A | |||||||
6.500% | 02/15/30(a) | 835 | 814,425 | ||||
Freeport-McMoRan, Inc., | |||||||
Gtd. Notes | |||||||
5.400% | 11/14/34 | 3,140 | 3,491,691 | ||||
5.450% | 03/15/43 | 1,440 | 1,615,763 | ||||
Hecla Mining Co., | |||||||
Gtd. Notes | |||||||
7.250% | 02/15/28(a) | 1,480 | 1,552,001 | ||||
Hudbay Minerals, Inc. (Canada), | |||||||
Gtd. Notes, 144A | |||||||
6.125% | 04/01/29(a) | 2,320 | 2,390,112 | ||||
Industrias Penoles SAB de CV (Mexico), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 08/06/50 | 260 | 237,366 | ||||
Nexa Resources SA (Brazil), | |||||||
Gtd. Notes | |||||||
5.375% | 05/04/27 | 200 | 203,026 | ||||
6.500% | 01/18/28 | 1,100 | 1,171,534 | ||||
Novelis Corp., | |||||||
Gtd. Notes, 144A | |||||||
4.750% | 01/30/30(a) | 1,600 | 1,554,303 | ||||
Southern Copper Corp. (Peru), | |||||||
Sr. Unsec’d. Notes | |||||||
7.500% | 07/27/35 | 650 | 837,151 | ||||
32,718,385 | |||||||
Miscellaneous Manufacturing — 0.0% | |||||||
Hillenbrand, Inc., | |||||||
Gtd. Notes | |||||||
3.750% | 03/01/31 | 2,780 | 2,542,990 | ||||
Siemens Financieringsmaatschappij NV (Germany), | |||||||
Gtd. Notes, 144A | |||||||
1.700% | 03/11/28(a) | 1,545 | 1,422,888 | ||||
3,965,878 | |||||||
Oil & Gas — 0.8% | |||||||
Aethon United BR LP/Aethon United Finance Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
8.250% | 02/15/26(a) | 1,510 | 1,571,269 | ||||
Aker BP ASA (Norway), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.875% | 01/15/26 | 1,390 | 1,355,446 |
A29
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Oil & Gas (cont’d.) | |||||||
Apache Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
6.000% | 01/15/37 | 95 | $106,477 | ||||
Chesapeake Energy Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.500% | 02/01/26 | 480 | 492,091 | ||||
5.875% | 02/01/29(a) | 615 | 635,383 | ||||
6.750% | 04/15/29(a) | 2,265 | 2,400,816 | ||||
Citgo Holding, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
9.250% | 08/01/24(a) | 770 | 777,924 | ||||
CITGO Petroleum Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.000% | 06/15/25(a) | 1,075 | 1,087,532 | ||||
Comstock Resources, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.875% | 01/15/30(a) | 885 | 871,743 | ||||
6.750% | 03/01/29(a) | 2,770 | 2,851,522 | ||||
Cosan Overseas Ltd. (Brazil), | |||||||
Gtd. Notes | |||||||
8.250% | 05/05/22(oo) | 620 | 622,420 | ||||
Diamondback Energy, Inc., | |||||||
Gtd. Notes | |||||||
3.250% | 12/01/26 | 12,218 | 12,204,537 | ||||
Ecopetrol SA (Colombia), | |||||||
Sr. Unsec’d. Notes | |||||||
4.625% | 11/02/31(a) | 620 | 561,164 | ||||
5.875% | 05/28/45 | 2,800 | 2,450,760 | ||||
Endeavor Energy Resources LP/EER Finance, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.750% | 01/30/28 | 1,435 | 1,480,621 | ||||
6.625% | 07/15/25 | 725 | 754,759 | ||||
EQT Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.000% | 01/15/29 | 805 | 831,297 | ||||
7.500% | 02/01/30 | 630 | 730,459 | ||||
Gulfport Energy Operating Corp., | |||||||
Gtd. Notes, 144A | |||||||
8.000% | 05/17/26 | 1,085 | 1,130,898 | ||||
Hess Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
7.125% | 03/15/33 | 315 | 388,855 | ||||
7.300% | 08/15/31 | 460 | 564,418 | ||||
7.875% | 10/01/29 | 129 | 160,134 | ||||
Hilcorp Energy I LP/Hilcorp Finance Co., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.750% | 02/01/29(a) | 1,150 | 1,150,470 | ||||
6.000% | 02/01/31(a) | 620 | 626,857 | ||||
Independence Energy Finance LLC, | |||||||
Gtd. Notes, 144A | |||||||
7.250% | 05/01/26 | 2,350 | 2,364,546 | ||||
KazMunayGas National Co. JSC (Kazakhstan), | |||||||
Sr. Unsec’d. Notes | |||||||
3.500% | 04/14/33 | 3,750 | 3,115,540 | ||||
5.750% | 04/19/47 | 2,115 | 1,874,539 | ||||
6.375% | 10/24/48 | 255 | 239,738 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Oil & Gas (cont’d.) | |||||||
Kosmos Energy Ltd. (Ghana), | |||||||
Gtd. Notes | |||||||
7.125% | 04/04/26 | 800 | $785,841 | ||||
Leviathan Bond Ltd. (Israel), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.125% | 06/30/25 | 1,500 | 1,525,724 | ||||
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., | |||||||
Gtd. Notes, 144A | |||||||
6.000% | 08/01/26 | 3,995 | 4,067,651 | ||||
Oasis Petroleum, Inc., | |||||||
Gtd. Notes, 144A | |||||||
6.375% | 06/01/26 | 1,240 | 1,275,139 | ||||
Occidental Petroleum Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
6.200% | 03/15/40 | 305 | 340,500 | ||||
6.625% | 09/01/30(a) | 1,000 | 1,147,557 | ||||
7.500% | 05/01/31(a) | 2,112 | 2,580,628 | ||||
7.875% | 09/15/31(a) | 1,700 | 2,121,044 | ||||
8.000% | 07/15/25 | 600 | 673,621 | ||||
8.500% | 07/15/27 | 515 | 609,571 | ||||
8.875% | 07/15/30(a) | 1,335 | 1,716,612 | ||||
Pertamina Persero PT (Indonesia), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
6.450% | 05/30/44 | 1,645 | 1,933,545 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
5.625% | 05/20/43 | 3,400 | 3,619,242 | ||||
Petrobras Global Finance BV (Brazil), | |||||||
Gtd. Notes | |||||||
5.500% | 06/10/51(a) | 1,060 | 911,600 | ||||
Petroleos de Venezuela SA (Venezuela), | |||||||
Gtd. Notes | |||||||
5.375% | 04/12/27(d) | 5,670 | 374,501 | ||||
6.000% | 05/16/24(d) | 19,015 | 1,291,459 | ||||
6.000% | 11/15/26(d) | 6,600 | 461,471 | ||||
9.000% | 11/17/21(d) | 37,670 | 2,688,723 | ||||
9.750% | 05/17/35(d) | 1,875 | 128,728 | ||||
12.750% | 02/17/22(d) | 5,195 | 358,414 | ||||
Sr. Sec’d. Notes | |||||||
8.500% | 10/27/20(d) | 2,475 | 408,839 | ||||
Sr. Sec’d. Notes, 144A | |||||||
8.500% | 10/27/20(d) | 1,076 | 177,659 | ||||
Petroleos Mexicanos (Mexico), | |||||||
Gtd. Notes | |||||||
4.500% | 01/23/26 | 4,675 | 4,564,357 | ||||
5.625% | 01/23/46 | 1,000 | 755,654 | ||||
6.490% | 01/23/27 | 60 | 60,867 | ||||
6.500% | 03/13/27 | 3,755 | 3,812,128 | ||||
6.500% | 06/02/41 | 19,402 | 16,028,922 | ||||
Gtd. Notes, Series 2013-2 | |||||||
7.190% | 09/12/24 | MXN | 3,700 | 174,397 | |||
Qatar Energy (Qatar), | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 07/12/31 | 1,400 | 1,294,276 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
2.250% | 07/12/31 | 1,330 | 1,229,562 | ||||
3.125% | 07/12/41 | 2,565 | 2,345,989 |
A30
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Oil & Gas (cont’d.) | |||||||
Range Resources Corp., | |||||||
Gtd. Notes | |||||||
8.250% | 01/15/29 | 1,525 | $1,671,092 | ||||
Reliance Industries Ltd. (India), | |||||||
Sr. Unsec’d. Notes | |||||||
3.667% | 11/30/27 | 6,300 | 6,254,717 | ||||
Rockcliff Energy II LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.500% | 10/15/29(a) | 995 | 996,645 | ||||
Saudi Arabian Oil Co. (Saudi Arabia), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.250% | 11/24/30 | 3,465 | 3,172,500 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
3.500% | 04/16/29 | 3,600 | 3,626,801 | ||||
4.250% | 04/16/39 | 3,200 | 3,287,008 | ||||
Southwestern Energy Co., | |||||||
Gtd. Notes | |||||||
4.750% | 02/01/32(a) | 1,110 | 1,108,705 | ||||
8.375% | 09/15/28(a) | 1,180 | 1,298,854 | ||||
Thaioil Treasury Center Co. Ltd. (Thailand), | |||||||
Gtd. Notes, 144A, MTN | |||||||
3.500% | 10/17/49 | 610 | 451,340 | ||||
Gtd. Notes, EMTN | |||||||
3.500% | 10/17/49 | 3,875 | 2,867,119 | ||||
Woodside Finance Ltd. (Australia), | |||||||
Gtd. Notes, 144A | |||||||
3.650% | 03/05/25 | 5,470 | 5,487,823 | ||||
3.700% | 09/15/26 | 4,368 | 4,379,600 | ||||
3.700% | 03/15/28 | 4,889 | 4,807,421 | ||||
142,276,061 | |||||||
Oil & Gas Services — 0.0% | |||||||
Archrock Partners LP/Archrock Partners Finance Corp., | |||||||
Gtd. Notes, 144A | |||||||
6.875% | 04/01/27 | 645 | 652,181 | ||||
Exterran Energy Solutions LP/EES Finance Corp., | |||||||
Gtd. Notes | |||||||
8.125% | 05/01/25(a) | 735 | 741,353 | ||||
USA Compression Partners LP/USA Compression Finance Corp., | |||||||
Gtd. Notes | |||||||
6.875% | 09/01/27 | 925 | 929,930 | ||||
2,323,464 | |||||||
Packaging & Containers — 0.1% | |||||||
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.000% | 09/01/29(a) | 3,945 | 3,556,761 | ||||
Cascades, Inc./Cascades USA, Inc. (Canada), | |||||||
Gtd. Notes, 144A | |||||||
5.125% | 01/15/26(a) | 1,125 | 1,122,699 | ||||
5.375% | 01/15/28 | 2,275 | 2,280,387 | ||||
Crown Cork & Seal Co., Inc., | |||||||
Gtd. Notes | |||||||
7.375% | 12/15/26 | 100 | 112,882 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Packaging & Containers (cont’d.) | |||||||
Graphic Packaging International LLC, | |||||||
Gtd. Notes, 144A | |||||||
3.750% | 02/01/30(a) | 1,290 | $1,182,074 | ||||
Mauser Packaging Solutions Holding Co., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
8.500% | 04/15/24 | 1,295 | 1,320,022 | ||||
Pactiv LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
7.950% | 12/15/25 | 235 | 241,133 | ||||
Sealed Air Corp., | |||||||
Gtd. Notes, 144A | |||||||
6.875% | 07/15/33 | 515 | 592,116 | ||||
Trivium Packaging Finance BV (Netherlands), | |||||||
Gtd. Notes, 144A | |||||||
8.500% | 08/15/27(a) | 3,265 | 3,262,851 | ||||
13,670,925 | |||||||
Pharmaceuticals — 0.8% | |||||||
AbbVie, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.950% | 11/21/26(a) | 7,061 | 7,004,180 | ||||
3.200% | 11/21/29 | 6,050 | 5,978,084 | ||||
3.800% | 03/15/25(a) | 3,630 | 3,704,808 | ||||
4.250% | 11/14/28 | 15,126 | 15,919,882 | ||||
4.250% | 11/21/49 | 1,750 | 1,826,002 | ||||
4.550% | 03/15/35 | 1,281 | 1,380,532 | ||||
4.875% | 11/14/48 | 7,050 | 8,000,187 | ||||
AdaptHealth LLC, | |||||||
Gtd. Notes, 144A | |||||||
5.125% | 03/01/30(a) | 335 | 311,182 | ||||
Astrazeneca Finance LLC (United Kingdom), | |||||||
Gtd. Notes | |||||||
1.750% | 05/28/28 | 3,127 | 2,888,101 | ||||
Bausch Health Americas, Inc., | |||||||
Gtd. Notes, 144A | |||||||
8.500% | 01/31/27(a) | 3,070 | 3,061,024 | ||||
Bausch Health Cos., Inc., | |||||||
Gtd. Notes, 144A | |||||||
7.250% | 05/30/29(a) | 1,005 | 857,954 | ||||
Sr. Sec’d. Notes, 144A | |||||||
5.750% | 08/15/27(a) | 485 | 478,440 | ||||
6.125% | 02/01/27(a) | 840 | 846,195 | ||||
Becton, Dickinson & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
1.957% | 02/11/31(a) | 4,646 | 4,110,982 | ||||
2.823% | 05/20/30(a) | 8,341 | 7,933,306 | ||||
3.700% | 06/06/27(a) | 10,453 | 10,609,407 | ||||
3.794% | 05/20/50(a) | 3,092 | 3,001,309 | ||||
4.685% | 12/15/44 | 362 | 390,215 | ||||
BellRing Brands, Inc., | |||||||
Gtd. Notes, 144A | |||||||
7.000% | 03/15/30 | 2,020 | 2,064,726 | ||||
Cardinal Health, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.750% | 09/15/25 | 4,126 | 4,182,157 | ||||
4.500% | 11/15/44 | 877 | 865,680 |
A31
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pharmaceuticals (cont’d.) | |||||||
4.900% | 09/15/45 | 4,265 | $4,407,047 | ||||
Cigna Corp., | |||||||
Gtd. Notes | |||||||
3.400% | 03/01/27 | 590 | 595,089 | ||||
4.375% | 10/15/28 | 7,890 | 8,299,029 | ||||
4.500% | 02/25/26 | 6,280 | 6,569,087 | ||||
CVS Health Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
1.300% | 08/21/27(a) | 10,044 | 9,135,757 | ||||
3.625% | 04/01/27(a) | 8,470 | 8,607,871 | ||||
4.250% | 04/01/50(a) | 10,080 | 10,493,768 | ||||
5.050% | 03/25/48 | 2,372 | 2,687,551 | ||||
5.125% | 07/20/45 | 170 | 192,375 | ||||
Eli Lilly & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 05/15/50 | 1,380 | 1,123,228 | ||||
Embecta Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.000% | 02/15/30 | 750 | 707,919 | ||||
Health & Happiness H&H International Holdings Ltd. (China), | |||||||
Sec’d. Notes | |||||||
5.625% | 10/24/24 | 1,400 | 1,252,512 | ||||
Option Care Health, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.375% | 10/31/29(a) | 1,105 | 1,040,891 | ||||
Organon & Co./Organon Foreign Debt Co-Issuer BV, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.125% | 04/30/28 | 1,170 | 1,114,776 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
5.125% | 04/30/31(a) | 750 | 722,675 | ||||
Teva Pharmaceutical Finance Netherlands III BV (Israel), | |||||||
Gtd. Notes | |||||||
4.750% | 05/09/27 | 1,725 | 1,657,252 | ||||
6.750% | 03/01/28 | 935 | 981,149 | ||||
7.125% | 01/31/25(a) | 3,860 | 4,051,102 | ||||
Vizient, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.250% | 05/15/27 | 580 | 597,793 | ||||
149,651,224 | |||||||
Pipelines — 0.6% | |||||||
Boardwalk Pipelines LP, | |||||||
Gtd. Notes | |||||||
3.375% | 02/01/23 | 1,598 | 1,606,063 | ||||
3.400% | 02/15/31 | 2,075 | 1,964,257 | ||||
4.450% | 07/15/27 | 1,610 | 1,646,307 | ||||
5.950% | 06/01/26(a) | 8,252 | 8,912,813 | ||||
Cameron LNG LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.302% | 01/15/35 | 1,821 | 1,711,315 | ||||
Cheniere Corpus Christi Holdings LLC, | |||||||
Sr. Sec’d. Notes | |||||||
3.700% | 11/15/29 | 4,337 | 4,323,254 | ||||
5.125% | 06/30/27 | 1,344 | 1,433,077 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pipelines (cont’d.) | |||||||
Cheniere Energy Partners LP, | |||||||
Gtd. Notes, 144A | |||||||
3.250% | 01/31/32(a) | 3,550 | $3,233,199 | ||||
DCP Midstream LP, | |||||||
Jr. Sub. Notes, Series A | |||||||
7.375%(ff) | 12/15/22(oo) | 1,090 | 1,051,557 | ||||
DCP Midstream Operating LP, | |||||||
Gtd. Notes | |||||||
5.625% | 07/15/27 | 1,280 | 1,342,130 | ||||
8.125% | 08/16/30 | 750 | 922,457 | ||||
Gtd. Notes, 144A | |||||||
6.450% | 11/03/36 | 1,150 | 1,326,516 | ||||
6.750% | 09/15/37 | 1,035 | 1,215,115 | ||||
Energy Transfer LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.900% | 05/15/25(a) | 1,663 | 1,632,340 | ||||
4.500% | 04/15/24 | 1,437 | 1,465,323 | ||||
5.000% | 05/15/50 | 822 | 833,460 | ||||
5.500% | 06/01/27(a) | 2,693 | 2,885,751 | ||||
5.875% | 01/15/24 | 3,115 | 3,237,332 | ||||
6.000% | 06/15/48 | 6,606 | 7,343,625 | ||||
Gray Oak Pipeline LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.000% | 09/15/23 | 412 | 405,915 | ||||
2.600% | 10/15/25 | 1,270 | 1,218,724 | ||||
3.450% | 10/15/27 | 527 | 508,383 | ||||
Kinder Morgan, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.625% | 11/15/23 | 1,555 | 1,605,099 | ||||
NGL Energy Operating LLC/NGL Energy Finance Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.500% | 02/01/26(a) | 2,030 | 1,994,638 | ||||
NuStar Logistics LP, | |||||||
Gtd. Notes | |||||||
5.750% | 10/01/25(a) | 735 | 750,668 | ||||
6.000% | 06/01/26(a) | 1,040 | 1,052,399 | ||||
Sabine Pass Liquefaction LLC, | |||||||
Sr. Sec’d. Notes | |||||||
4.500% | 05/15/30 | 762 | 798,532 | ||||
5.000% | 03/15/27 | 11,446 | 12,114,683 | ||||
5.750% | 05/15/24(a) | 3,260 | 3,414,257 | ||||
5.875% | 06/30/26 | 218 | 235,871 | ||||
Summit Midstream Partners LP, | |||||||
Jr. Sub. Notes, Series A | |||||||
9.500% | 12/15/22(d)(oo) | 63 | 48,828 | ||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., | |||||||
Gtd. Notes, 144A | |||||||
5.500% | 01/15/28(a) | 1,175 | 1,136,251 | ||||
6.000% | 03/01/27 | 1,530 | 1,525,805 | ||||
6.000% | 12/31/30 | 965 | 936,371 | ||||
7.500% | 10/01/25(a) | 1,755 | 1,849,995 | ||||
Targa Resources Corp., | |||||||
Gtd. Notes | |||||||
4.950% | 04/15/52 | 1,560 | 1,587,652 |
A32
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pipelines (cont’d.) | |||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp., | |||||||
Gtd. Notes | |||||||
4.000% | 01/15/32(a) | 1,100 | $1,055,793 | ||||
4.875% | 02/01/31 | 310 | 312,401 | ||||
5.500% | 03/01/30(a) | 2,660 | 2,763,844 | ||||
6.500% | 07/15/27(a) | 1,920 | 2,022,766 | ||||
6.875% | 01/15/29(a) | 480 | 515,112 | ||||
Transcontinental Gas Pipe Line Co. LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
3.250% | 05/15/30(a) | 1,367 | 1,334,172 | ||||
4.000% | 03/15/28 | 3,241 | 3,310,069 | ||||
4.600% | 03/15/48 | 504 | 536,088 | ||||
Venture Global Calcasieu Pass LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 08/15/29 | 990 | 962,922 | ||||
3.875% | 11/01/33(a) | 1,260 | 1,204,315 | ||||
4.125% | 08/15/31 | 1,275 | 1,251,664 | ||||
Williams Cos., Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
3.750% | 06/15/27 | 4,840 | 4,901,082 | ||||
3.900% | 01/15/25(a) | 3,182 | 3,225,908 | ||||
4.000% | 09/15/25 | 1,191 | 1,208,388 | ||||
4.300% | 03/04/24 | 505 | 515,882 | ||||
5.100% | 09/15/45(a) | 5,340 | 5,758,431 | ||||
5.400% | 03/04/44 | 400 | 440,314 | ||||
110,589,113 | |||||||
Real Estate — 0.1% | |||||||
Country Garden Holdings Co. Ltd. (China), | |||||||
Sr. Sec’d. Notes | |||||||
3.300% | 01/12/31 | 1,500 | 1,035,944 | ||||
8.000% | 01/27/24 | 1,000 | 858,032 | ||||
Cushman & Wakefield US Borrower LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.750% | 05/15/28 | 2,075 | 2,168,308 | ||||
Howard Hughes Corp. (The), | |||||||
Gtd. Notes, 144A | |||||||
4.125% | 02/01/29(a) | 1,210 | 1,137,301 | ||||
5.375% | 08/01/28(a) | 2,730 | 2,738,883 | ||||
Kaisa Group Holdings Ltd. (China), | |||||||
Sr. Sec’d. Notes | |||||||
11.950% | 10/22/22(d) | 1,550 | 295,115 | ||||
Shimao Group Holdings Ltd. (China), | |||||||
Sr. Unsec’d. Notes | |||||||
3.450% | 01/11/31 | 3,175 | 788,407 | ||||
5.600% | 07/15/26 | 200 | 55,600 | ||||
Times China Holdings Ltd. (China), | |||||||
Sr. Sec’d. Notes | |||||||
6.750% | 07/08/25 | 1,912 | 754,921 | ||||
9,832,511 | |||||||
Real Estate Investment Trusts (REITs) — 0.8% | |||||||
Alexandria Real Estate Equities, Inc., | |||||||
Gtd. Notes | |||||||
1.875% | 02/01/33 | 6,050 | 5,112,647 | ||||
3.950% | 01/15/27 | 4,544 | 4,680,493 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Real Estate Investment Trusts (REITs) (cont’d.) | |||||||
American Campus Communities Operating Partnership LP, | |||||||
Gtd. Notes | |||||||
2.850% | 02/01/30 | 7,217 | $6,774,132 | ||||
3.300% | 07/15/26 | 3,098 | 3,078,787 | ||||
3.625% | 11/15/27 | 2,674 | 2,655,995 | ||||
American Finance Trust, Inc./American Finance Operating Partner LP, | |||||||
Gtd. Notes, 144A | |||||||
4.500% | 09/30/28 | 1,505 | 1,358,389 | ||||
Apollo Commercial Real Estate Finance, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.625% | 06/15/29 | 2,410 | 2,184,189 | ||||
Boston Properties LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.750% | 10/01/26(a) | 7,550 | 7,355,041 | ||||
3.650% | 02/01/26 | 5,893 | 5,973,024 | ||||
Brixmor Operating Partnership LP, | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 06/15/24 | 2,239 | 2,255,040 | ||||
3.850% | 02/01/25 | 2,265 | 2,288,447 | ||||
3.900% | 03/15/27 | 7,263 | 7,309,199 | ||||
4.050% | 07/01/30 | 1,960 | 1,966,045 | ||||
4.125% | 06/15/26 | 4,223 | 4,313,305 | ||||
4.125% | 05/15/29 | 4,519 | 4,628,034 | ||||
Crown Castle International Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.100% | 04/01/31 | 9,350 | 8,099,220 | ||||
2.250% | 01/15/31(a) | 1,821 | 1,604,634 | ||||
2.900% | 03/15/27 | 1,020 | 986,139 | ||||
Essex Portfolio LP, | |||||||
Gtd. Notes | |||||||
3.625% | 05/01/27(a) | 6,129 | 6,220,583 | ||||
3.875% | 05/01/24 | 553 | 560,711 | ||||
Extra Space Storage LP, | |||||||
Gtd. Notes | |||||||
2.350% | 03/15/32(a) | 5,475 | 4,822,021 | ||||
GLP Capital LP/GLP Financing II, Inc., | |||||||
Gtd. Notes | |||||||
3.350% | 09/01/24 | 1,198 | 1,187,474 | ||||
HAT Holdings I LLC/HAT Holdings II LLC, | |||||||
Gtd. Notes, 144A | |||||||
6.000% | 04/15/25(a) | 1,025 | 1,056,004 | ||||
Healthcare Realty Trust, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.050% | 03/15/31(a) | 1,675 | 1,465,745 | ||||
Healthpeak Properties, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.875% | 01/15/31 | 630 | 597,238 | ||||
3.250% | 07/15/26 | 642 | 641,276 | ||||
3.500% | 07/15/29(a) | 719 | 718,299 | ||||
Highwoods Realty LP, | |||||||
Sr. Unsec’d. Notes | |||||||
4.125% | 03/15/28 | 1,586 | 1,610,305 | ||||
Kilroy Realty LP, | |||||||
Gtd. Notes | |||||||
4.375% | 10/01/25 | 4,284 | 4,392,816 |
A33
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Real Estate Investment Trusts (REITs) (cont’d.) | |||||||
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer, Inc., | |||||||
Gtd. Notes | |||||||
5.750% | 02/01/27(a) | 695 | $737,187 | ||||
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.875% | 05/15/29 | 585 | 549,217 | ||||
Realty Income Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.950% | 08/15/27 | 2,331 | 2,397,237 | ||||
4.600% | 02/06/24 | 8,075 | 8,293,855 | ||||
4.875% | 06/01/26 | 1,030 | 1,086,757 | ||||
RHP Hotel Properties LP/RHP Finance Corp., | |||||||
Gtd. Notes | |||||||
4.750% | 10/15/27 | 895 | 863,864 | ||||
Gtd. Notes, 144A | |||||||
4.500% | 02/15/29(a) | 1,340 | 1,259,804 | ||||
SBA Communications Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.875% | 02/15/27(a) | 1,840 | 1,795,795 | ||||
SBA Tower Trust, | |||||||
Asset-Backed, 144A | |||||||
1.631% | 05/15/51 | 1,885 | 1,771,419 | ||||
2.836% | 01/15/50 | 3,865 | 3,802,047 | ||||
Service Properties Trust, | |||||||
Gtd. Notes | |||||||
7.500% | 09/15/25(a) | 1,083 | 1,136,732 | ||||
Sr. Unsec’d. Notes | |||||||
4.350% | 10/01/24 | 2,200 | 2,126,492 | ||||
Simon Property Group LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.650% | 07/15/30(a) | 3,273 | 3,086,300 | ||||
3.300% | 01/15/26 | 1,138 | 1,145,728 | ||||
3.500% | 09/01/25 | 2,789 | 2,815,184 | ||||
3.800% | 07/15/50 | 3,412 | 3,357,971 | ||||
Starwood Property Trust, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.750% | 03/15/25(a) | 625 | 632,660 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.375% | 01/15/27(a) | 1,210 | 1,174,183 | ||||
XHR LP, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.875% | 06/01/29(a) | 1,500 | 1,459,058 | ||||
135,386,722 | |||||||
Retail — 0.3% | |||||||
At Home Group, Inc., | |||||||
Gtd. Notes, 144A | |||||||
7.125% | 07/15/29(a) | 1,165 | 1,008,710 | ||||
Bath & Body Works, Inc., | |||||||
Gtd. Notes | |||||||
6.694% | 01/15/27 | 1,275 | 1,350,670 | ||||
Gtd. Notes, 144A | |||||||
6.625% | 10/01/30(a) | 1,005 | 1,055,309 | ||||
9.375% | 07/01/25 | 1,691 | 1,931,113 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Retail (cont’d.) | |||||||
Sr. Unsec’d. Notes | |||||||
6.950% | 03/01/33 | 1,900 | $1,961,736 | ||||
Carvana Co., | |||||||
Gtd. Notes, 144A | |||||||
5.625% | 10/01/25 | 1,745 | 1,645,289 | ||||
eG Global Finance PLC (United Kingdom), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.750% | 02/07/25(a) | 2,055 | 2,043,730 | ||||
8.500% | 10/30/25 | 3,910 | 4,001,989 | ||||
Home Depot, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.375% | 03/15/51 | 2,638 | 2,119,472 | ||||
JMH Co. Ltd. (Hong Kong), | |||||||
Gtd. Notes | |||||||
2.500% | 04/09/31(a) | 6,720 | 6,161,824 | ||||
LCM Investments Holdings II LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.875% | 05/01/29(a) | 1,780 | 1,677,185 | ||||
Lowe’s Cos., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.350% | 04/01/27 | 355 | 357,483 | ||||
3.750% | 04/01/32 | 1,515 | 1,532,473 | ||||
LSF9 Atlantis Holdings LLC/Victra Finance Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.750% | 02/15/26 | 2,235 | 2,148,435 | ||||
Papa John’s International, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.875% | 09/15/29 | 3,767 | 3,447,020 | ||||
PetSmart, Inc./PetSmart Finance Corp., | |||||||
Gtd. Notes, 144A | |||||||
7.750% | 02/15/29(a) | 4,805 | 4,962,033 | ||||
Sr. Sec’d. Notes, 144A | |||||||
4.750% | 02/15/28(a) | 1,265 | 1,223,107 | ||||
QVC, Inc., | |||||||
Sr. Sec’d. Notes | |||||||
4.375% | 03/15/23 | 2,856 | 2,870,283 | ||||
Ross Stores, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
0.875% | 04/15/26 | 1,301 | 1,187,904 | ||||
1.875% | 04/15/31(a) | 4,501 | 3,918,763 | ||||
Specialty Building Products Holdings LLC/SBP Finance Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.375% | 09/30/26(a) | 1,430 | 1,446,849 | ||||
SRS Distribution, Inc., | |||||||
Gtd. Notes, 144A | |||||||
6.000% | 12/01/29(a) | 2,175 | 2,017,784 | ||||
Staples, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.500% | 04/15/26(a) | 3,720 | 3,610,686 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
10.750% | 04/15/27(a) | 1,300 | 1,157,192 | ||||
TJX Cos., Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
1.600% | 05/15/31(a) | 1,881 | 1,644,911 |
A34
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Retail (cont’d.) | |||||||
Yum! Brands, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.350% | 11/01/43(a) | 1,143 | $1,117,374 | ||||
6.875% | 11/15/37 | 374 | 416,893 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 01/15/30 | 520 | 511,798 | ||||
58,528,015 | |||||||
Savings & Loans — 0.0% | |||||||
Nationwide Building Society (United Kingdom), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
2.972%(ff) | 02/16/28(a) | 3,070 | 2,925,742 | ||||
Semiconductors — 0.1% | |||||||
Micron Technology, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.185% | 02/15/27 | 1,355 | 1,390,026 | ||||
NXP BV/NXP Funding LLC (China), | |||||||
Gtd. Notes, 144A | |||||||
5.350% | 03/01/26 | 2,008 | 2,122,808 | ||||
NXP BV/NXP Funding LLC/NXP USA, Inc. (China), | |||||||
Gtd. Notes, 144A | |||||||
2.700% | 05/01/25 | 357 | 346,819 | ||||
3.150% | 05/01/27 | 733 | 710,656 | ||||
TSMC Global Ltd. (Taiwan), | |||||||
Gtd. Notes, 144A | |||||||
1.000% | 09/28/27 | 7,100 | 6,275,861 | ||||
10,846,170 | |||||||
Software — 0.2% | |||||||
Black Knight InfoServ LLC, | |||||||
Gtd. Notes, 144A | |||||||
3.625% | 09/01/28 | 1,185 | 1,123,844 | ||||
Boxer Parent Co., Inc., | |||||||
Sec’d. Notes, 144A | |||||||
9.125% | 03/01/26(a) | 805 | 831,163 | ||||
Clarivate Science Holdings Corp., | |||||||
Gtd. Notes, 144A | |||||||
4.875% | 07/01/29(a) | 1,095 | 1,032,900 | ||||
Sr. Sec’d. Notes, 144A | |||||||
3.875% | 07/01/28(a) | 1,525 | 1,451,659 | ||||
Dun & Bradstreet Corp. (The), | |||||||
Gtd. Notes, 144A | |||||||
5.000% | 12/15/29(a) | 980 | 926,100 | ||||
Elastic NV, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.125% | 07/15/29(a) | 2,275 | 2,116,550 | ||||
Fair Isaac Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.000% | 06/15/28(a) | 4,550 | 4,402,106 | ||||
5.250% | 05/15/26(a) | 1,195 | 1,244,650 | ||||
Minerva Merger Sub, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.500% | 02/15/30(a) | 5,060 | 4,908,992 | ||||
MSCI, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.250% | 08/15/33(a) | 2,740 | 2,467,033 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Software (cont’d.) | |||||||
3.625% | 09/01/30(a) | 350 | $328,697 | ||||
4.000% | 11/15/29(a) | 670 | 651,000 | ||||
Oracle Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.300% | 03/25/28 | 2,614 | 2,393,549 | ||||
Playtika Holding Corp., | |||||||
Gtd. Notes, 144A | |||||||
4.250% | 03/15/29 | 1,985 | 1,836,628 | ||||
ROBLOX Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.875% | 05/01/30(a) | 3,490 | 3,263,178 | ||||
Roper Technologies, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.000% | 06/30/30 | 810 | 721,489 | ||||
Twilio, Inc., | |||||||
Gtd. Notes | |||||||
3.875% | 03/15/31(a) | 2,225 | 2,070,037 | ||||
Veritas US, Inc./Veritas Bermuda Ltd., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.500% | 09/01/25 | 125 | 118,626 | ||||
Workday, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.500% | 04/01/27 | 670 | 671,369 | ||||
3.700% | 04/01/29 | 830 | 831,348 | ||||
33,390,918 | |||||||
Telecommunications — 0.7% | |||||||
Altice France Holding SA (Luxembourg), | |||||||
Gtd. Notes, 144A | |||||||
6.000% | 02/15/28(a) | 2,680 | 2,311,517 | ||||
Altice France SA (France), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.125% | 07/15/29(a) | 3,985 | 3,569,964 | ||||
5.500% | 01/15/28 | 900 | 832,808 | ||||
5.500% | 10/15/29(a) | 1,395 | 1,253,026 | ||||
AT&T, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.300% | 06/01/27 | 3,431 | 3,274,380 | ||||
2.750% | 06/01/31 | 2,897 | 2,713,647 | ||||
4.300% | 02/15/30(a) | 1,929 | 2,039,628 | ||||
Axtel SAB de CV (Mexico), | |||||||
Gtd. Notes, 144A | |||||||
6.375% | 11/14/24 | 800 | 815,586 | ||||
Bharti Airtel Ltd. (India), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.250% | 06/03/31(a) | 2,130 | 1,965,663 | ||||
C&W Senior Financing DAC (Panama), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.875% | 09/15/27 | 1,750 | 1,736,630 | ||||
Connect Finco Sarl/Connect US Finco LLC (United Kingdom), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.750% | 10/01/26 | 1,745 | 1,778,820 | ||||
Crown Castle Towers LLC, | |||||||
Asset-Backed, 144A | |||||||
3.663% | 05/15/45 | 4,425 | 4,415,270 |
A35
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Telecommunications (cont’d.) | |||||||
Embarq Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
7.995% | 06/01/36 | 855 | $823,987 | ||||
Globe Telecom, Inc. (Philippines), | |||||||
Sr. Unsec’d. Notes | |||||||
3.000% | 07/23/35 | 2,300 | 1,839,994 | ||||
Hughes Satellite Systems Corp., | |||||||
Gtd. Notes | |||||||
6.625% | 08/01/26(a) | 2,430 | 2,521,212 | ||||
Iliad Holding SASU (France), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.500% | 10/15/26 | 1,210 | 1,213,622 | ||||
7.000% | 10/15/28(a) | 1,335 | 1,337,427 | ||||
Level 3 Financing, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.625% | 01/15/29 | 940 | 822,554 | ||||
4.625% | 09/15/27 | 1,225 | 1,155,632 | ||||
Lumen Technologies, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.500% | 01/15/29 | 650 | 559,381 | ||||
NBN Co. Ltd. (Australia), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
2.625% | 05/05/31 | 3,525 | 3,232,704 | ||||
NTT Finance Corp. (Japan), | |||||||
Gtd. Notes, 144A | |||||||
1.591% | 04/03/28 | 5,585 | 5,048,641 | ||||
2.065% | 04/03/31 | 800 | 722,100 | ||||
Ooredoo International Finance Ltd. (Qatar), | |||||||
Gtd. Notes, 144A, MTN | |||||||
2.625% | 04/08/31 | 2,195 | 2,056,932 | ||||
Oztel Holdings SPC Ltd. (Oman), | |||||||
Sr. Sec’d. Notes | |||||||
6.625% | 04/24/28 | 2,950 | 3,092,437 | ||||
Rogers Communications, Inc. (Canada), | |||||||
Gtd. Notes, 144A | |||||||
3.200% | 03/15/27 | 2,875 | 2,830,371 | ||||
3.800% | 03/15/32 | 2,200 | 2,182,815 | ||||
4.550% | 03/15/52 | 1,065 | 1,070,762 | ||||
Sable International Finance Ltd. (Chile), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.750% | 09/07/27(a) | 1,350 | 1,355,657 | ||||
SmarTone Finance Ltd. (Hong Kong), | |||||||
Gtd. Notes | |||||||
3.875% | 04/08/23 | 1,000 | 1,001,722 | ||||
Sprint Capital Corp., | |||||||
Gtd. Notes | |||||||
6.875% | 11/15/28(a) | 4,270 | 4,944,378 | ||||
Sprint Corp., | |||||||
Gtd. Notes | |||||||
7.125% | 06/15/24(a) | 395 | 423,730 | ||||
Telefonica Celular del Paraguay SA (Paraguay), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.875% | 04/15/27 | 1,840 | 1,863,290 | ||||
Telesat Canada/Telesat LLC (Canada), | |||||||
Gtd. Notes, 144A | |||||||
6.500% | 10/15/27(a) | 1,200 | 588,554 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Telecommunications (cont’d.) | |||||||
T-Mobile USA, Inc., | |||||||
Gtd. Notes | |||||||
2.625% | 02/15/29 | 535 | $488,537 | ||||
2.875% | 02/15/31 | 1,180 | 1,064,182 | ||||
Gtd. Notes, 144A | |||||||
3.500% | 04/15/31 | 1,470 | 1,385,303 | ||||
Sr. Sec’d. Notes | |||||||
3.750% | 04/15/27 | 9,280 | 9,347,140 | ||||
3.875% | 04/15/30 | 8,985 | 9,022,736 | ||||
United States Cellular Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
6.700% | 12/15/33(a) | 645 | 708,980 | ||||
Verizon Communications, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.100% | 03/22/28(a) | 2,614 | 2,440,158 | ||||
2.987% | 10/30/56(a) | 6,954 | 5,754,089 | ||||
3.550% | 03/22/51(a) | 3,815 | 3,598,299 | ||||
4.329% | 09/21/28 | 3,781 | 3,990,970 | ||||
Viasat, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.625% | 04/15/27(a) | 710 | 700,504 | ||||
Viavi Solutions, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.750% | 10/01/29(a) | 865 | 815,588 | ||||
Vmed O2 UK Financing I PLC (United Kingdom), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.750% | 07/15/31(a) | 3,740 | 3,520,104 | ||||
Vodafone Group PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
4.250% | 09/17/50(a) | 1,000 | 995,358 | ||||
4.875% | 06/19/49 | 7,020 | 7,633,874 | ||||
5.000% | 05/30/38 | 3,678 | 4,009,933 | ||||
5.250% | 05/30/48 | 4,235 | 4,766,692 | ||||
127,637,288 | |||||||
Toys/Games/Hobbies — 0.0% | |||||||
Hasbro, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.550% | 11/19/26 | 2,296 | 2,297,572 | ||||
Transportation — 0.1% | |||||||
Autoridad del Canal de Panama (Panama), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.950% | 07/29/35 | 980 | 1,103,732 | ||||
Canadian Pacific Railway Co. (Canada), | |||||||
Gtd. Notes | |||||||
3.100% | 12/02/51 | 2,725 | 2,423,219 | ||||
Cargo Aircraft Management, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.750% | 02/01/28(a) | 2,495 | 2,432,405 | ||||
Empresa de los Ferrocarriles del Estado (Chile), | |||||||
Sr. Unsec’d. Notes | |||||||
3.068% | 08/18/50 | 1,770 | 1,354,119 | ||||
Empresa de Transporte de Pasajeros Metro SA (Chile), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.693% | 09/13/61 | 525 | 427,032 | ||||
4.700% | 05/07/50 | 1,545 | 1,568,439 |
A36
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Transportation (cont’d.) | |||||||
Lima Metro Line 2 Finance Ltd. (Peru), | |||||||
Sr. Sec’d. Notes | |||||||
5.875% | 07/05/34 | 444 | $477,096 | ||||
Ukraine Railways Via Rail Capital Markets PLC (Ukraine), | |||||||
Sr. Unsec’d. Notes | |||||||
8.250% | 07/09/24 | 635 | 190,500 | ||||
9,976,542 | |||||||
Trucking & Leasing — 0.0% | |||||||
SMBC Aviation Capital Finance DAC (Ireland), | |||||||
Gtd. Notes, 144A | |||||||
3.000% | 07/15/22 | 4,445 | 4,454,234 | ||||
Water — 0.0% | |||||||
Manila Water Co., Inc. (Philippines), | |||||||
Sr. Unsec’d. Notes | |||||||
4.375% | 07/30/30 | 2,100 | 1,995,389 | ||||
Solaris Midstream Holdings LLC, | |||||||
Gtd. Notes, 144A | |||||||
7.625% | 04/01/26(a) | 1,235 | 1,273,158 | ||||
3,268,547 | |||||||
Total Corporate Bonds (cost $2,461,747,080) | 2,311,297,499 | ||||||
Municipal Bonds — 0.0% | |||||||
Colorado — 0.0% | |||||||
Colorado Health Facilities Authority, | |||||||
Taxable, Revenue Bonds, Series B | |||||||
4.480% | 12/01/40 | 7,015 | 7,056,245 | ||||
Pennsylvania — 0.0% | |||||||
Pocono Mountains Industrial Park Authority, | |||||||
Taxable, Revenue Bonds | |||||||
5.050% | 08/15/49 | 205 | 229,927 | ||||
Total Municipal Bonds (cost $7,220,000) | 7,286,172 | ||||||
Residential Mortgage-Backed Securities — 1.2% | |||||||
Angel Oak Mortgage Trust, | |||||||
Series 2020-03, Class A1, 144A | |||||||
1.691%(cc) | 04/25/65 | 1,162 | 1,147,122 | ||||
Series 2021-01, Class A2, 144A | |||||||
1.115%(cc) | 01/25/66 | 2,585 | 2,500,234 | ||||
Series 2021-03, Class A1, 144A | |||||||
1.068%(cc) | 05/25/66 | 2,456 | 2,318,912 | ||||
Series 2021-04, Class A3, 144A | |||||||
1.446%(cc) | 01/20/65 | 2,021 | 1,914,937 | ||||
Series 2021-06, Class A2, 144A | |||||||
1.581%(cc) | 09/25/66 | 2,511 | 2,374,736 | ||||
Series 2021-06, Class A3, 144A | |||||||
1.714%(cc) | 09/25/66 | 2,263 | 2,135,303 | ||||
Angel Oak Mortgage Trust I LLC, | |||||||
Series 2019-02, Class A1, 144A | |||||||
3.628%(cc) | 03/25/49 | 462 | 461,514 | ||||
Barclays Mortgage Loan Trust, | |||||||
Series 2021-NQM01, Class M1, 144A | |||||||
2.971%(cc) | 09/25/51 | 6,000 | 5,536,594 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
CIM Trust, | |||||||
Series 2020-INV01, Class A2, 144A | |||||||
2.500%(cc) | 04/25/50 | 3,035 | $2,958,843 | ||||
Series 2021-INV01, Class A29, 144A | |||||||
2.500%(cc) | 07/01/51 | 3,667 | 3,341,837 | ||||
Citigroup Mortgage Loan Trust, Inc., | |||||||
Series 2020-EXP02, Class A3, 144A | |||||||
2.500%(cc) | 08/25/50 | 3,172 | 3,031,888 | ||||
COLT Mortgage Loan Trust, | |||||||
Series 2020-03, Class A1, 144A | |||||||
1.506%(cc) | 04/27/65 | 441 | 439,582 | ||||
Series 2021-01, Class A1, 144A | |||||||
0.910%(cc) | 06/25/66 | 2,975 | 2,737,146 | ||||
Connecticut Avenue Securities Trust, | |||||||
Series 2022-R01, Class 1M1, 144A, 30 Day Average SOFR + 1.000% (Cap N/A, Floor 0.000%) | |||||||
1.099%(c) | 12/25/41 | 1,863 | 1,844,671 | ||||
Series 2022-R03, Class 1M1, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | |||||||
2.199%(c) | 03/25/42 | 3,445 | 3,450,879 | ||||
Credit Suisse Mortgage Trust, | |||||||
Series 2014-03R, Class 2A1, 144A | |||||||
0.000%(cc) | 05/27/37 | 181 | 178,669 | ||||
Deephaven Residential Mortgage Trust, | |||||||
Series 2021-02, Class A1, 144A | |||||||
0.899%(cc) | 04/25/66 | 1,289 | 1,212,628 | ||||
Series 2021-02, Class A2, 144A | |||||||
1.209%(cc) | 04/25/66 | 1,212 | 1,139,804 | ||||
Series 2021-04, Class A1, 144A | |||||||
1.931%(cc) | 11/25/66 | 6,776 | 6,497,583 | ||||
Ellington Financial Mortgage Trust, | |||||||
Series 2020-02, Class A1, 144A | |||||||
1.178%(cc) | 10/25/65 | 1,988 | 1,963,829 | ||||
Series 2021-02, Class A1, 144A | |||||||
0.931%(cc) | 06/25/66 | 1,672 | 1,563,649 | ||||
Series 2021-02, Class A2, 144A | |||||||
1.085%(cc) | 06/25/66 | 2,250 | 2,100,865 | ||||
Series 2021-03, Class A1, 144A | |||||||
1.241%(cc) | 09/25/66 | 2,214 | 2,022,751 | ||||
Series 2021-03, Class A2, 144A | |||||||
1.396%(cc) | 09/25/66 | 2,260 | 2,063,716 | ||||
Fannie Mae Connecticut Avenue Securities, | |||||||
Series 2017-C02, Class 2ED3, 1 Month LIBOR + 1.350% (Cap N/A, Floor 0.000%) | |||||||
1.807%(c) | 09/25/29 | 361 | 357,718 | ||||
Series 2017-C04, Class 2ED2, 1 Month LIBOR + 1.100% (Cap N/A, Floor 0.000%) | |||||||
1.557%(c) | 11/25/29 | 6,396 | 6,324,971 | ||||
Series 2017-C06, Class 2ED1, 1 Month LIBOR + 1.000% (Cap N/A, Floor 1.000%) | |||||||
1.457%(c) | 02/25/30 | 128 | 127,119 | ||||
Series 2018-C01, Class 1ED2, 1 Month LIBOR + 0.850% (Cap N/A, Floor 0.850%) | |||||||
1.307%(c) | 07/25/30 | 3,608 | 3,586,579 |
A37
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Fannie Mae Interest Strips, | |||||||
Series 319, Class 2, IO | |||||||
6.500% | 02/25/32 | 2 | $294 | ||||
FHLMC Structured Agency Credit Risk Debt Notes, | |||||||
Series 2021-DNA02, Class M1, 144A, 30 Day Average SOFR + 0.800% (Cap N/A, Floor 0.000%) | |||||||
0.899%(c) | 08/25/33 | 1,693 | 1,681,141 | ||||
Series 2021-DNA07, Class M2, 144A, 30 Day Average SOFR + 1.800% (Cap N/A, Floor 0.000%) | |||||||
1.899%(c) | 11/25/41 | 5,830 | 5,544,898 | ||||
FHLMC Structured Agency Credit Risk REMIC Trust, | |||||||
Series 2020-DNA06, Class M1, 144A, 30 Day Average SOFR + 0.900% (Cap N/A, Floor 0.000%) | |||||||
0.999%(c) | 12/25/50 | 156 | 155,594 | ||||
Series 2021-DNA01, Class M1, 144A, 30 Day Average SOFR + 0.650% (Cap N/A, Floor 0.000%) | |||||||
0.749%(c) | 01/25/51 | 144 | 143,348 | ||||
Series 2021-DNA06, Class M2, 144A, 30 Day Average SOFR + 1.500% (Cap N/A, Floor 0.000%) | |||||||
1.599%(c) | 10/25/41 | 2,765 | 2,629,550 | ||||
Series 2021-HQA01, Class M1, 144A, 30 Day Average SOFR + 0.700% (Cap N/A, Floor 0.000%) | |||||||
0.799%(c) | 08/25/33 | 557 | 553,906 | ||||
Series 2022-HQA01, Class M1A, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%) | |||||||
2.150%(c) | 03/25/42 | 6,365 | 6,372,743 | ||||
Flagstar Mortgage Trust, | |||||||
Series 2018-03INV, Class B3, 144A | |||||||
4.483%(cc) | 05/25/48 | 7,853 | 7,693,036 | ||||
Freddie Mac REMICS, | |||||||
Series 4977, Class IO, IO | |||||||
4.500% | 05/25/50 | 1,971 | 291,007 | ||||
Freddie Mac Structured Agency Credit Risk Debt Notes, | |||||||
Series 2022-DNA02, Class M1B, 144A, 30 Day Average SOFR + 2.400% (Cap N/A, Floor 0.000%) | |||||||
2.499%(c) | 02/25/42 | 5,980 | 5,818,607 | ||||
Freddie Mac Whole Loan Securities Trust, | |||||||
Series 2017-SC01, Class M1, 144A | |||||||
3.651%(cc) | 12/25/46 | 1,734 | 1,719,881 | ||||
FWD Securitization Trust, | |||||||
Series 2020-INV01, Class A1, 144A | |||||||
2.240%(cc) | 01/25/50 | 1,407 | 1,389,687 | ||||
Galton Funding Mortgage Trust, | |||||||
Series 2018-01, Class A23, 144A | |||||||
3.500%(cc) | 11/25/57 | 503 | 501,270 | ||||
Series 2018-02, Class A22, 144A | |||||||
4.000%(cc) | 10/25/58 | 547 | 547,566 | ||||
Series 2020-H01, Class A1, 144A | |||||||
2.310%(cc) | 01/25/60 | 209 | 207,830 | ||||
GCAT Trust, | |||||||
Series 2021-NQM04, Class A3, 144A | |||||||
1.556%(cc) | 08/25/66 | 1,438 | 1,289,745 | ||||
Government National Mortgage Assoc., | |||||||
Series 2011-41, Class AI, IO | |||||||
4.500% | 12/20/39 | 4 | 45 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Series 2012-94, Class BI, IO | |||||||
4.000% | 05/20/37 | 338 | $6,154 | ||||
Series 2013-24, Class OI, IO | |||||||
4.000% | 02/20/43 | 294 | 39,673 | ||||
Series 2013-82, Class IG, IO | |||||||
3.500% | 05/20/43 | 916 | 146,907 | ||||
Series 2018-08, Class DA | |||||||
3.000% | 11/20/47 | 360 | 353,321 | ||||
GS Mortgage-Backed Securities Corp. Trust, | |||||||
Series 2021-PJ05, Class A4, 144A | |||||||
2.500%(cc) | 10/25/51 | 7,953 | 7,262,017 | ||||
GS Mortgage-Backed Securities Trust, | |||||||
Series 2014-EB01A, Class 2A1, 144A | |||||||
1.633%(cc) | 07/25/44 | 53 | 53,934 | ||||
Series 2020-INV01, Class A14, 144A | |||||||
2.959%(cc) | 10/25/50 | 2,342 | 2,243,142 | ||||
Series 2021-GR01, Class A4, 144A | |||||||
2.500%(cc) | 11/25/51 | 2,868 | 2,590,234 | ||||
Series 2021-GR02, Class A4, 144A | |||||||
2.500%(cc) | 02/25/52 | 2,959 | 2,673,035 | ||||
Series 2021-HP01, Class A6, 144A | |||||||
2.500%(cc) | 01/25/52 | 4,992 | 4,790,674 | ||||
Homeward Opportunities Fund I Trust, | |||||||
Series 2020-02, Class A1, 144A | |||||||
1.657%(cc) | 05/25/65 | 620 | 615,794 | ||||
JPMorgan Mortgage Trust, | |||||||
Series 2019-INV02, Class A3, 144A | |||||||
3.500%(cc) | 02/25/50 | 508 | 507,050 | ||||
Series 2019-INV03, Class A3, 144A | |||||||
3.500%(cc) | 05/25/50 | 1,065 | 1,062,755 | ||||
Series 2020-INV01, Class A11, 144A, 1 Month LIBOR + 0.830% (Cap 6.000%, Floor 0.000%) | |||||||
1.017%(c) | 08/25/50 | 540 | 538,809 | ||||
Series 2020-INV01, Class A3, 144A | |||||||
3.500%(cc) | 08/25/50 | 896 | 894,779 | ||||
Series 2020-INV02, Class A13, 144A | |||||||
3.000%(cc) | 10/25/50 | 1,130 | 1,122,928 | ||||
Series 2020-LTV01, Class A3, 144A | |||||||
3.500%(cc) | 06/25/50 | 373 | 372,671 | ||||
Mello Mortgage Capital Acceptance, | |||||||
Series 2021-INV04, Class A15, 144A | |||||||
2.500%(cc) | 12/25/51 | 8,959 | 8,167,711 | ||||
New Residential Mortgage Loan Trust, | |||||||
Series 2020-NQM01, Class A1, 144A | |||||||
2.464%(cc) | 01/26/60 | 1,158 | 1,152,133 | ||||
Series 2020-NQM02, Class A1, 144A | |||||||
1.650%(cc) | 05/24/60 | 554 | 543,535 | ||||
Series 2021-INV02, Class A2, 144A | |||||||
2.500%(cc) | 09/25/51 | 5,390 | 4,994,276 | ||||
OBX Trust, | |||||||
Series 2020-EXP03, Class 1A8, 144A | |||||||
3.000%(cc) | 01/25/60 | 957 | 942,813 | ||||
Series 2021-INV03, Class A19, 144A | |||||||
2.500%(cc) | 10/25/51 | 4,318 | 3,933,773 | ||||
Series 2021-NQM1, Class A1, 144A | |||||||
1.072%(cc) | 02/25/66 | 3,091 | 2,993,356 |
A38
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Series 2021-NQM1, Class A3, 144A | |||||||
1.329%(cc) | 02/25/66 | 2,735 | $2,644,002 | ||||
Oceanview Mortgage Trust, | |||||||
Series 2022-01, Class A19, 144A | |||||||
3.000%(cc) | 12/25/51 | 5,963 | 5,626,365 | ||||
PSMC Trust, | |||||||
Series 2021-01, Class A1, 144A | |||||||
2.500%(cc) | 03/25/51 | 6,325 | 5,945,222 | ||||
Sequoia Mortgage Trust, | |||||||
Series 2017-05, Class B1, 144A | |||||||
3.803%(cc) | 08/25/47 | 2,058 | 2,004,269 | ||||
Series 2018-CH01, Class A2, 144A | |||||||
3.500%(cc) | 03/25/48 | 159 | 159,101 | ||||
Series 2018-CH02, Class A3, 144A | |||||||
4.000%(cc) | 06/25/48 | 933 | 934,459 | ||||
SG Residential Mortgage Trust, | |||||||
Series 2019-03, Class A1, 144A | |||||||
2.703%(cc) | 09/25/59 | 239 | 236,496 | ||||
Starwood Mortgage Residential Trust, | |||||||
Series 2019-INV01, Class A1, 144A | |||||||
2.610%(cc) | 09/27/49 | 452 | 452,724 | ||||
Series 2020-INV01, Class A1, 144A | |||||||
1.027%(cc) | 11/25/55 | 1,466 | 1,414,864 | ||||
Series 2021-02, Class A1, 144A | |||||||
0.943%(cc) | 05/25/65 | 2,082 | 2,029,836 | ||||
Towd Point Mortgage Trust, | |||||||
Series 2018-01, Class A1, 144A | |||||||
3.000%(cc) | 01/25/58 | 165 | 164,850 | ||||
Series 2019-01, Class A1, 144A | |||||||
3.658%(cc) | 03/25/58 | 242 | 240,995 | ||||
UWM Mortgage Trust, | |||||||
Series 2021-INV01, Class A15, 144A | |||||||
2.500%(cc) | 08/25/51 | 7,110 | 6,479,723 | ||||
Series 2021-INV02, Class A15, 144A | |||||||
2.500%(cc) | 09/25/51 | 2,873 | 2,620,132 | ||||
Verus Securitization Trust, | |||||||
Series 2019-03, Class A3, 144A | |||||||
3.040% | 07/25/59 | 1,188 | 1,188,010 | ||||
Series 2019-04, Class A3, 144A | |||||||
3.000% | 11/25/59 | 1,179 | 1,176,819 | ||||
Series 2019-INV03, Class A1, 144A | |||||||
2.692%(cc) | 11/25/59 | 1,187 | 1,185,375 | ||||
Series 2020-INV01, Class A1, 144A | |||||||
1.977%(cc) | 03/25/60 | 298 | 293,231 | ||||
Series 2020-INV01, Class A3, 144A | |||||||
3.889%(cc) | 03/25/60 | 625 | 619,894 | ||||
Series 2021-01, Class A3, 144A | |||||||
1.155%(cc) | 01/25/66 | 1,318 | 1,267,193 | ||||
Series 2021-02, Class A2, 144A | |||||||
1.288%(cc) | 02/25/66 | 1,967 | 1,893,264 | ||||
Series 2021-05, Class A2, 144A | |||||||
1.218%(cc) | 09/25/66 | 2,037 | 1,875,416 | ||||
Series 2021-07, Class A1, 144A | |||||||
1.829%(cc) | 10/25/66 | 10,059 | 9,502,650 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Vista Point Securitization Trust, | |||||||
Series 2020-01, Class A1, 144A | |||||||
1.763%(cc) | 03/25/65 | 333 | $332,312 | ||||
Series 2020-02, Class A1, 144A | |||||||
1.475%(cc) | 04/25/65 | 3,363 | 3,265,057 | ||||
Series 2020-02, Class M1, 144A | |||||||
3.401%(cc) | 04/25/65 | 2,085 | 2,015,176 | ||||
Wells Fargo Mortgage Backed Securities Trust, | |||||||
Series 2021-INV02, Class A17, 144A | |||||||
3.000%(cc) | 09/25/51 | 9,818 | 9,268,632 | ||||
Series 2021-RR1, Class A17, 144A | |||||||
2.500%(cc) | 12/25/50 | 4,161 | 3,838,738 | ||||
Total Residential Mortgage-Backed Securities (cost $231,166,066) | 218,550,506 | ||||||
Sovereign Bonds — 2.3% | |||||||
Abu Dhabi Government International Bond (United Arab Emirates), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
3.125% | 04/16/30 | 1,280 | 1,308,483 | ||||
Albania Government International Bond (Albania), | |||||||
Sr. Unsec’d. Notes | |||||||
3.500% | 06/16/27 | EUR | 2,670 | 2,868,697 | |||
3.500% | 11/23/31 | EUR | 425 | 408,901 | |||
Sr. Unsec’d. Notes, 144A | |||||||
3.500% | 11/23/31 | EUR | 1,725 | 1,659,659 | |||
Angolan Government International Bond (Angola), | |||||||
Sr. Unsec’d. Notes | |||||||
8.250% | 05/09/28 | 2,585 | 2,626,463 | ||||
9.500% | 11/12/25 | 1,675 | 1,836,842 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
8.000% | 11/26/29 | 2,470 | 2,480,813 | ||||
9.125% | 11/26/49 | 3,700 | 3,605,643 | ||||
Argentine Republic Government International Bond (Argentina), | |||||||
Sr. Unsec’d. Notes | |||||||
0.000% | 12/15/35(d) | 9,945 | 54,667 | ||||
0.500%(cc) | 07/09/30 | 3,816 | 1,278,329 | ||||
1.125%(cc) | 07/09/35 | 8,576 | 2,629,257 | ||||
2.000%(cc) | 01/09/38 | 6,485 | 2,447,093 | ||||
Bahamas Government International Bond (Bahamas), | |||||||
Sr. Unsec’d. Notes | |||||||
6.000% | 11/21/28 | 650 | 502,933 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
6.000% | 11/21/28 | 7,130 | 5,516,793 | ||||
Bahrain Government International Bond (Bahrain), | |||||||
Sr. Unsec’d. Notes | |||||||
6.750% | 09/20/29 | 1,210 | 1,276,181 | ||||
7.000% | 10/12/28 | 5,760 | 6,254,847 | ||||
7.500% | 09/20/47 | 1,600 | 1,577,706 | ||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
5.625% | 05/18/34 | 6,400 | 6,051,789 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
5.625% | 05/18/34 | 800 | 756,474 | ||||
Barbados Government International Bond (Barbados), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.500% | 10/01/29 | 2,950 | 2,834,348 |
A39
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Sovereign Bonds (continued) | |||||||
Benin Government International Bond (Benin), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.875% | 01/19/32 | EUR | 2,375 | $2,292,409 | |||
Bonos de la Tesoreria de la Republica en pesos (Chile), | |||||||
Bonds, 144A | |||||||
5.800% | 06/01/24 | CLP | 550,000 | 684,846 | |||
Unsec’d. Notes, 144A | |||||||
4.700% | 09/01/30 | CLP | 1,520,000 | 1,747,339 | |||
Brazilian Government International Bond (Brazil), | |||||||
Sr. Unsec’d. Notes | |||||||
3.875% | 06/12/30 | 2,025 | 1,870,711 | ||||
5.000% | 01/27/45 | 4,585 | 4,081,634 | ||||
5.625% | 01/07/41 | 1,840 | 1,786,017 | ||||
Chile Government International Bond (Chile), | |||||||
Sr. Unsec’d. Notes | |||||||
3.500% | 01/31/34 | 380 | 376,269 | ||||
3.500% | 01/25/50 | 7,790 | 7,137,885 | ||||
4.000% | 01/31/52 | 430 | 424,869 | ||||
Colombia Government International Bond (Colombia), | |||||||
Sr. Unsec’d. Notes | |||||||
3.000% | 01/30/30 | 1,200 | 1,032,707 | ||||
3.125% | 04/15/31 | 2,200 | 1,865,970 | ||||
4.125% | 05/15/51(a) | 1,270 | 961,289 | ||||
5.000% | 06/15/45 | 2,645 | 2,224,632 | ||||
5.625% | 02/26/44 | 550 | 496,154 | ||||
6.125% | 01/18/41 | 465 | 452,103 | ||||
Costa Rica Government International Bond (Costa Rica), | |||||||
Sr. Unsec’d. Notes | |||||||
5.625% | 04/30/43 | 1,100 | 958,784 | ||||
Dominican Republic International Bond (Dominican Republic), | |||||||
Sr. Unsec’d. Notes | |||||||
5.875% | 01/30/60 | 2,575 | 2,199,445 | ||||
6.000% | 07/19/28 | 445 | 452,619 | ||||
6.850% | 01/27/45 | 7,635 | 7,591,996 | ||||
7.450% | 04/30/44 | 545 | 575,478 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.500% | 01/30/30 | 2,415 | 2,223,068 | ||||
4.875% | 09/23/32 | 6,230 | 5,650,184 | ||||
5.500% | 02/22/29 | 905 | 896,853 | ||||
Ecuador Government International Bond (Ecuador), | |||||||
Sr. Unsec’d. Notes | |||||||
1.000%(cc) | 07/31/35 | 3,700 | 2,421,672 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
0.500%(cc) | 07/31/40 | 2,232 | 1,283,133 | ||||
1.000%(cc) | 07/31/35 | 5,805 | 3,799,563 | ||||
5.000%(cc) | 07/31/30 | 3,462 | 2,886,807 | ||||
5.772%(s) | 07/31/30 | 847 | 471,732 | ||||
Egypt Government International Bond (Egypt), | |||||||
Sr. Unsec’d. Notes | |||||||
6.588% | 02/21/28 | 3,075 | 2,855,757 | ||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
5.875% | 02/16/31(a) | 657 | 550,923 | ||||
7.600% | 03/01/29 | 1,585 | 1,506,332 | ||||
8.500% | 01/31/47 | 2,545 | 2,178,472 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
5.875% | 02/16/31(a) | 1,945 | 1,630,966 | ||||
7.600% | 03/01/29 | 1,250 | 1,187,959 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Sovereign Bonds (continued) | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
8.500% | 01/31/47 | 6,945 | $5,944,788 | ||||
El Salvador Government International Bond (El Salvador), | |||||||
Sr. Unsec’d. Notes | |||||||
5.875% | 01/30/25 | 5,340 | 2,976,916 | ||||
7.650% | 06/15/35 | 3,275 | 1,558,170 | ||||
Export-Import Bank of India (India), | |||||||
Sr. Unsec’d. Notes | |||||||
3.375% | 08/05/26 | 500 | 490,013 | ||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
2.250% | 01/13/31 | 1,225 | 1,055,481 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
3.250% | 01/15/30 | 7,200 | 6,821,382 | ||||
Ghana Government International Bond (Ghana), | |||||||
Sr. Unsec’d. Notes | |||||||
6.375% | 02/11/27 | 1,130 | 846,671 | ||||
8.125% | 01/18/26 | 2,980 | 2,521,235 | ||||
Grenada Government International Bond (Grenada), | |||||||
Sr. Unsec’d. Notes | |||||||
7.000% | 05/12/30 | 260 | 263,575 | ||||
Guatemala Government Bond (Guatemala), | |||||||
Sr. Unsec’d. Notes | |||||||
4.875% | 02/13/28 | 1,900 | 1,946,124 | ||||
4.900% | 06/01/30 | 640 | 653,184 | ||||
5.375% | 04/24/32 | 2,300 | 2,404,547 | ||||
Hungary Government International Bond (Hungary), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.125% | 09/22/31 | 3,545 | 3,212,778 | ||||
Indonesia Government International Bond (Indonesia), | |||||||
Sr. Unsec’d. Notes | |||||||
2.850% | 02/14/30 | 3,635 | 3,574,775 | ||||
4.450% | 04/15/70 | 200 | 206,247 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
4.125% | 01/15/25 | 4,325 | 4,469,645 | ||||
4.625% | 04/15/43 | 3,370 | 3,530,752 | ||||
5.250% | 01/17/42 | 1,630 | 1,823,436 | ||||
Israel Government International Bond (Israel), | |||||||
Sr. Unsec’d. Notes | |||||||
3.875% | 07/03/50 | 200 | 206,445 | ||||
Ivory Coast Government International Bond (Ivory Coast), | |||||||
Sr. Unsec’d. Notes | |||||||
6.125% | 06/15/33 | 7,625 | 7,406,562 | ||||
6.625% | 03/22/48 | EUR | 2,470 | 2,384,535 | |||
Jamaica Government International Bond (Jamaica), | |||||||
Sr. Unsec’d. Notes | |||||||
7.875% | 07/28/45 | 3,197 | 4,143,521 | ||||
8.000% | 03/15/39 | 1,340 | 1,742,768 | ||||
Jordan Government International Bond (Jordan), | |||||||
Sr. Unsec’d. Notes | |||||||
5.850% | 07/07/30 | 6,450 | 6,030,994 | ||||
KSA Sukuk Ltd. (Saudi Arabia), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
2.969% | 10/29/29 | 1,600 | 1,593,414 | ||||
Lebanon Government International Bond (Lebanon), | |||||||
Sr. Unsec’d. Notes | |||||||
6.000% | 01/27/23(d) | 7,570 | 890,865 |
A40
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Sovereign Bonds (continued) | |||||||
Mexico Government International Bond (Mexico), | |||||||
Sr. Unsec’d. Notes | |||||||
3.250% | 04/16/30(a) | 650 | $626,545 | ||||
4.280% | 08/14/41 | 10,615 | 9,912,797 | ||||
4.600% | 01/23/46 | 695 | 667,472 | ||||
5.000% | 04/27/51 | 200 | 202,738 | ||||
Mongolia Government International Bond (Mongolia), | |||||||
Sr. Unsec’d. Notes | |||||||
4.450% | 07/07/31 | 1,900 | 1,718,945 | ||||
Morocco Government International Bond (Morocco), | |||||||
Sr. Unsec’d. Notes | |||||||
2.375% | 12/15/27 | 2,300 | 2,102,081 | ||||
3.000% | 12/15/32 | 3,600 | 3,119,940 | ||||
4.000% | 12/15/50 | 5,925 | 4,748,721 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
3.000% | 12/15/32 | 1,700 | 1,473,305 | ||||
Oman Government International Bond (Oman), | |||||||
Sr. Unsec’d. Notes | |||||||
4.750% | 06/15/26 | 2,650 | 2,658,361 | ||||
5.375% | 03/08/27 | 4,750 | 4,875,003 | ||||
6.250% | 01/25/31 | 725 | 768,373 | ||||
6.500% | 03/08/47 | 2,430 | 2,388,884 | ||||
6.750% | 10/28/27 | 2,300 | 2,500,658 | ||||
6.750% | 01/17/48 | 2,575 | 2,571,860 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 06/15/26 | 1,000 | 1,003,155 | ||||
6.250% | 01/25/31(a) | 560 | 593,502 | ||||
6.750% | 10/28/27 | 1,300 | 1,413,415 | ||||
7.000% | 01/25/51 | 1,435 | 1,473,483 | ||||
Pakistan Government International Bond (Pakistan), | |||||||
Sr. Unsec’d. Notes | |||||||
7.875% | 03/31/36 | 2,974 | 2,059,031 | ||||
Panama Government International Bond (Panama), | |||||||
Sr. Unsec’d. Notes | |||||||
3.160% | 01/23/30 | 6,090 | 5,960,813 | ||||
3.298% | 01/19/33 | 13,155 | 12,624,956 | ||||
3.870% | 07/23/60(a) | 1,500 | 1,316,719 | ||||
4.500% | 01/19/63 | 2,080 | 2,002,721 | ||||
Paraguay Government International Bond (Paraguay), | |||||||
Sr. Unsec’d. Notes | |||||||
4.700% | 03/27/27 | 1,235 | 1,284,602 | ||||
5.400% | 03/30/50 | 2,310 | 2,331,067 | ||||
5.600% | 03/13/48 | 400 | 410,114 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
2.739% | 01/29/33 | 560 | 494,818 | ||||
4.950% | 04/28/31(a) | 2,170 | 2,276,826 | ||||
5.400% | 03/30/50 | 200 | 201,824 | ||||
Perusahaan Penerbit SBSN Indonesia III (Indonesia), | |||||||
Sr. Unsec’d. Notes | |||||||
2.800% | 06/23/30(a) | 9,000 | 8,822,513 | ||||
4.550% | 03/29/26 | 10,105 | 10,701,598 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
4.450% | 02/20/29 | 4,000 | 4,343,670 | ||||
Peruvian Government International Bond (Peru), | |||||||
Sr. Unsec’d. Notes | |||||||
2.780% | 12/01/60 | 4,050 | 3,179,276 | ||||
3.000% | 01/15/34 | 5,560 | 5,214,839 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Sovereign Bonds (continued) | |||||||
3.300% | 03/11/41 | 1,500 | $1,369,213 | ||||
3.550% | 03/10/51 | 650 | 608,138 | ||||
Philippine Government International Bond (Philippines), | |||||||
Sr. Unsec’d. Notes | |||||||
2.650% | 12/10/45 | 4,875 | 4,035,266 | ||||
Province of Manitoba (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
3.050% | 05/14/24(a) | 1,680 | 1,698,743 | ||||
Qatar Government International Bond (Qatar), | |||||||
Sr. Unsec’d. Notes | |||||||
4.400% | 04/16/50 | 900 | 1,010,788 | ||||
4.817% | 03/14/49 | 6,100 | 7,243,833 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
3.875% | 04/23/23 | 2,195 | 2,234,179 | ||||
4.400% | 04/16/50 | 1,360 | 1,527,413 | ||||
Republic of South Africa Government International Bond (South Africa), | |||||||
Sr. Unsec’d. Notes | |||||||
4.300% | 10/12/28 | 5,205 | 5,023,946 | ||||
4.850% | 09/30/29 | 9,925 | 9,701,871 | ||||
5.375% | 07/24/44 | 800 | 704,372 | ||||
6.250% | 03/08/41 | 2,550 | 2,534,923 | ||||
Republic of Uzbekistan International Bond (Uzbekistan), | |||||||
Sr. Unsec’d. Notes | |||||||
3.900% | 10/19/31 | 1,000 | 869,952 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
3.900% | 10/19/31 | 2,197 | 1,911,285 | ||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
5.375% | 02/20/29 | 645 | 645,162 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
5.375% | 02/20/29 | 2,000 | 2,000,504 | ||||
Romanian Government International Bond (Romania), | |||||||
Sr. Unsec’d. Notes | |||||||
3.000% | 02/14/31 | 2,400 | 2,219,914 | ||||
4.000% | 02/14/51(a) | 4,250 | 3,699,380 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
3.000% | 02/14/31(a) | 812 | 751,071 | ||||
4.000% | 02/14/51(a) | 640 | 557,083 | ||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
2.125% | 03/07/28 | EUR | 1,000 | 1,043,412 | |||
Sr. Unsec’d. Notes, EMTN | |||||||
2.124% | 07/16/31 | EUR | 600 | 567,361 | |||
3.375% | 01/28/50 | EUR | 2,725 | 2,424,430 | |||
Unsec’d. Notes, 144A | |||||||
3.000% | 02/27/27 | 6,290 | 6,108,954 | ||||
Unsec’d. Notes, 144A, MTN | |||||||
2.875% | 04/13/42 | EUR | 650 | 550,543 | |||
Saudi Government International Bond (Saudi Arabia), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
4.500% | 04/22/60 | 635 | 690,043 | ||||
Sr. Unsec’d. Notes, EMTN | |||||||
2.750% | 02/03/32 | 3,200 | 3,114,890 | ||||
3.250% | 10/26/26 | 1,900 | 1,944,069 | ||||
3.750% | 01/21/55 | 1,820 | 1,755,039 | ||||
5.000% | 04/17/49 | 2,300 | 2,621,961 | ||||
Senegal Government International Bond (Senegal), | |||||||
Sr. Unsec’d. Notes | |||||||
6.250% | 05/23/33 | 6,400 | 6,045,358 |
A41
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Sovereign Bonds (continued) | |||||||
Unsec’d. Notes, 144A | |||||||
6.250% | 05/23/33 | 850 | $802,899 | ||||
Serbia International Bond (Serbia), | |||||||
Sr. Unsec’d. Notes | |||||||
2.125% | 12/01/30 | 6,775 | 5,705,710 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
2.125% | 12/01/30 | 522 | 439,613 | ||||
Sri Lanka Government International Bond (Sri Lanka), | |||||||
Sr. Unsec’d. Notes | |||||||
6.125% | 06/03/25 | 6,240 | 3,086,925 | ||||
6.825% | 07/18/26 | 1,250 | 607,032 | ||||
6.850% | 11/03/25 | 2,800 | 1,373,507 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
6.825% | 07/18/26 | 800 | 388,501 | ||||
Suriname Government International Bond (Suriname), | |||||||
Sr. Unsec’d. Notes | |||||||
9.250% | 10/26/26 | 3,058 | 2,186,816 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
12.875% | 12/30/23 | 575 | 405,018 | ||||
Trinidad & Tobago Government International Bond (Trinidad & Tobago), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.500% | 06/26/30 | 1,635 | 1,586,737 | ||||
Turkey Government International Bond (Turkey), | |||||||
Sr. Unsec’d. Notes | |||||||
4.250% | 04/14/26 | 1,200 | 1,079,389 | ||||
4.875% | 04/16/43 | 1,320 | 936,846 | ||||
6.000% | 03/25/27 | 1,141 | 1,059,867 | ||||
6.000% | 01/14/41 | 3,500 | 2,738,387 | ||||
6.500% | 09/20/33 | 1,520 | 1,328,147 | ||||
8.600% | 09/24/27 | 2,000 | 2,047,424 | ||||
Ukraine Government International Bond (Ukraine), | |||||||
Sr. Unsec’d. Notes | |||||||
7.750% | 09/01/25 | 3,280 | 1,394,000 | ||||
7.750% | 09/01/27 | 2,720 | 1,142,400 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
0.000%(cc) | 05/31/40 | 515 | 157,075 | ||||
9.750% | 11/01/28 | 2,905 | 1,220,100 | ||||
Venezuela Government International Bond (Venezuela), | |||||||
Sr. Unsec’d. Notes | |||||||
6.000% | 12/09/20(d) | 4,725 | 387,450 | ||||
7.750% | 10/13/19(d) | 5,500 | 451,000 | ||||
9.250% | 09/15/27(d) | 2,200 | 211,801 | ||||
11.750% | 10/21/26(d) | 2,250 | 200,770 | ||||
11.950% | 08/05/31(d) | 1,200 | 109,020 | ||||
12.750% | 08/23/22(d) | 3,025 | 268,333 | ||||
Vietnam Government International Bond (Vietnam), | |||||||
Sr. Unsec’d. Notes | |||||||
4.800% | 11/19/24 | 2,450 | 2,534,485 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
4.800% | 11/19/24 | 2,200 | 2,275,864 | ||||
Zambia Government International Bond (Zambia), | |||||||
Unsec’d. Notes | |||||||
5.375% | 09/20/22 | 4,600 | 3,170,734 | ||||
Total Sovereign Bonds (cost $455,529,437) | 409,984,889 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations — 6.5% | |||||||
Federal Home Loan Mortgage Corp. | |||||||
2.000% | 03/01/42 | 6,951 | $6,522,991 | ||||
2.000% | 06/01/50 | 737 | 686,054 | ||||
2.000% | 02/01/51 | 1,106 | 1,030,350 | ||||
2.000% | 05/01/51 | 94 | 87,574 | ||||
2.000% | 05/01/51 | 3,282 | 3,055,899 | ||||
2.000% | 07/01/51 | 58 | 53,914 | ||||
2.000% | 12/01/51 | 3,962 | 3,682,383 | ||||
2.500% | 03/01/42 | 5,461 | 5,270,333 | ||||
2.500% | 07/01/50 | 523 | 500,743 | ||||
2.500% | 02/01/51 | 1,012 | 970,769 | ||||
2.500% | 05/01/51 | 466 | 447,154 | ||||
2.500% | 05/01/51 | 899 | 858,822 | ||||
2.500% | 06/01/51 | 1,556 | 1,495,683 | ||||
2.500% | 06/01/51 | 3,238 | 3,093,809 | ||||
2.500% | 07/01/51 | 617 | 589,994 | ||||
2.500% | 07/01/51 | 1,022 | 976,103 | ||||
2.500% | 08/01/51 | 1,158 | 1,106,537 | ||||
2.500% | 08/01/51 | 2,866 | 2,738,484 | ||||
2.500% | 08/01/51 | 3,614 | 3,452,733 | ||||
2.500% | 01/01/52 | 8,031 | 7,678,714 | ||||
3.000% | 05/01/30 | 851 | 858,136 | ||||
3.000% | 11/01/33 | 1,103 | 1,101,533 | ||||
3.000% | 02/01/34 | 1,164 | 1,174,698 | ||||
3.000% | 04/01/34 | 95 | 95,688 | ||||
3.000% | 11/01/42 | 30 | 29,823 | ||||
3.000% | 01/01/43 | 33 | 33,144 | ||||
3.000% | 02/01/43 | 15 | 15,000 | ||||
3.000% | 02/01/43 | 24 | 24,250 | ||||
3.000% | 02/01/43 | 103 | 102,869 | ||||
3.000% | 03/01/43 | 92 | 91,757 | ||||
3.000% | 03/01/45 | 16 | 15,923 | ||||
3.000% | 04/01/45 | 108 | 107,703 | ||||
3.000% | 06/01/45 | 22 | 22,215 | ||||
3.000% | 06/01/45 | 162 | 161,492 | ||||
3.000% | 07/01/45 | 104 | 103,560 | ||||
3.000% | 02/01/47 | 695 | 689,937 | ||||
3.000% | 02/01/48 | 15 | 15,132 | ||||
3.000% | 09/01/49 | 1,245 | 1,230,594 | ||||
3.000% | 11/01/49 | 1,221 | 1,203,114 | ||||
3.000% | 02/01/50 | 455 | 448,294 | ||||
3.000% | 04/01/50 | 1,085 | 1,066,093 | ||||
3.000% | 06/01/50 | 515 | 507,052 | ||||
3.000% | 08/01/50 | 2,192 | 2,161,164 | ||||
3.000% | 09/01/51 | 8,415 | 8,240,940 | ||||
3.500% | 05/01/31 | 2,083 | 2,153,699 | ||||
3.500% | 02/01/34 | 170 | 175,483 | ||||
3.500% | 04/01/42 | 19 | 19,719 | ||||
3.500% | 04/01/42 | 200 | 204,599 | ||||
3.500% | 08/01/42 | 35 | 35,690 | ||||
3.500% | 08/01/42 | 42 | 43,236 | ||||
3.500% | 08/01/42 | 201 | 204,824 | ||||
3.500% | 09/01/42 | 7 | 7,156 | ||||
3.500% | 09/01/42 | 48 | 49,335 | ||||
3.500% | 09/01/42 | 266 | 270,682 | ||||
3.500% | 10/01/42 | 5 | 5,487 | ||||
3.500% | 10/01/42 | 75 | 76,464 |
A42
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
3.500% | 11/01/42 | 32 | $32,509 | ||||
3.500% | 12/01/42 | 367 | 374,926 | ||||
3.500% | 01/01/43 | 351 | 358,160 | ||||
3.500% | 04/01/43 | 10 | 10,664 | ||||
3.500% | 04/01/43 | 42 | 43,375 | ||||
3.500% | 04/01/43 | 288 | 293,544 | ||||
3.500% | 05/01/43 | 753 | 768,210 | ||||
3.500% | 10/01/43 | 90 | 92,301 | ||||
3.500% | 01/01/44 | 330 | 337,160 | ||||
3.500% | 03/01/44 | 583 | 593,584 | ||||
3.500% | 05/01/45 | 255 | 258,865 | ||||
3.500% | 06/01/45 | 56 | 56,921 | ||||
3.500% | 06/01/45 | 329 | 335,842 | ||||
3.500% | 01/01/48 | 4,148 | 4,203,375 | ||||
3.500% | 03/01/48 | 1,898 | 1,924,344 | ||||
3.500% | 10/01/49 | 90 | 90,531 | ||||
3.500% | 12/01/49 | 240 | 242,607 | ||||
3.500% | 01/01/50 | 1,906 | 1,924,124 | ||||
4.000% | 06/01/33 | 196 | 202,806 | ||||
4.000% | 10/01/34 | 78 | 80,237 | ||||
4.000% | 01/01/36 | 783 | 815,961 | ||||
4.000% | 05/01/38 | 408 | 422,053 | ||||
4.000% | 10/01/40 | 4 | 3,908 | ||||
4.000% | 10/01/40 | 7 | 6,818 | ||||
4.000% | 10/01/40 | 19 | 19,727 | ||||
4.000% | 11/01/40 | 9 | 9,858 | ||||
4.000% | 12/01/40 | 3 | 3,515 | ||||
4.000% | 12/01/40 | 221 | 231,038 | ||||
4.000% | 12/01/40 | 485 | 508,132 | ||||
4.000% | 12/01/40 | 745 | 779,878 | ||||
4.000% | 02/01/41 | 128 | 134,463 | ||||
4.000% | 04/01/41 | 921 | 963,587 | ||||
4.000% | 10/01/41 | 59 | 61,098 | ||||
4.000% | 10/01/41 | 178 | 185,875 | ||||
4.000% | 12/01/41 | 115 | 119,597 | ||||
4.000% | 02/01/42 | 381 | 397,045 | ||||
4.000% | 03/01/42 | 12 | 12,737 | ||||
4.000% | 04/01/42 | 15 | 16,015 | ||||
4.000% | 04/01/42 | 42 | 43,637 | ||||
4.000% | 04/01/42 | 97 | 101,243 | ||||
4.000% | 07/01/42 | 850 | 889,735 | ||||
4.000% | 09/01/42 | 61 | 63,293 | ||||
4.000% | 11/01/42 | 406 | 425,166 | ||||
4.000% | 05/01/43 | 83 | 86,437 | ||||
4.000% | 09/01/43 | 276 | 288,638 | ||||
4.000% | 02/01/45 | 143 | 149,053 | ||||
4.000% | 05/01/45 | 49 | 50,900 | ||||
4.000% | 01/01/46 | 2,939 | 3,074,162 | ||||
4.000% | 04/01/46 | 7 | 7,361 | ||||
4.000% | 04/01/46 | 17 | 17,681 | ||||
4.000% | 04/01/46 | 296 | 308,322 | ||||
4.000% | 10/01/47 | 6 | 6,671 | ||||
4.000% | 04/01/48 | 7 | 7,124 | ||||
4.000% | 06/01/48 | 234 | 241,842 | ||||
4.000% | 02/01/50 | 4,316 | 4,443,624 | ||||
4.500% | 09/01/23 | 15 | 15,639 | ||||
4.500% | 05/01/39 | 75 | 79,651 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
4.500% | 05/01/39 | 83 | $87,873 | ||||
4.500% | 06/01/39 | 46 | 49,109 | ||||
4.500% | 08/01/39 | 323 | 343,807 | ||||
4.500% | 09/01/39 | 23 | 24,066 | ||||
4.500% | 10/01/39 | 9 | 9,319 | ||||
4.500% | 10/01/39 | 22 | 23,649 | ||||
4.500% | 10/01/39 | 141 | 150,176 | ||||
4.500% | 10/01/39 | 446 | 475,065 | ||||
4.500% | 10/01/39 | 991 | 1,055,741 | ||||
4.500% | 12/01/39 | 28 | 29,331 | ||||
4.500% | 03/01/40 | 65 | 69,486 | ||||
4.500% | 05/01/40 | 30 | 32,230 | ||||
4.500% | 08/01/40 | 68 | 72,573 | ||||
4.500% | 08/01/40 | 109 | 116,243 | ||||
4.500% | 10/01/40 | 83 | 88,601 | ||||
4.500% | 11/01/40 | 65 | 68,918 | ||||
4.500% | 01/01/41 | 111 | 118,561 | ||||
4.500% | 02/01/41 | 12 | 12,902 | ||||
4.500% | 02/01/41 | 18 | 19,145 | ||||
4.500% | 02/01/41 | 19 | 20,007 | ||||
4.500% | 02/01/41 | 40 | 42,489 | ||||
4.500% | 03/01/41 | 86 | 91,408 | ||||
4.500% | 04/01/41 | 133 | 141,295 | ||||
4.500% | 04/01/41 | 243 | 259,058 | ||||
4.500% | 10/01/41 | 661 | 699,474 | ||||
4.500% | 01/01/42 | 38 | 40,179 | ||||
4.500% | 02/01/44 | 35 | 36,958 | ||||
4.500% | 03/01/44 | 9 | 9,255 | ||||
4.500% | 03/01/44 | 32 | 34,133 | ||||
4.500% | 03/01/44 | 40 | 43,099 | ||||
4.500% | 07/01/45 | 2,609 | 2,704,827 | ||||
4.500% | 12/01/48 | 682 | 712,284 | ||||
4.500% | 05/01/50 | 249 | 258,787 | ||||
5.000% | 06/01/23 | 7 | 7,042 | ||||
5.000% | 07/01/25 | —(r) | 20 | ||||
5.000% | 07/01/33 | 1 | 545 | ||||
5.000% | 11/01/33 | 3 | 3,076 | ||||
5.000% | 11/01/33 | 4 | 3,756 | ||||
5.000% | 11/01/33 | 5 | 5,232 | ||||
5.000% | 11/01/33 | 6 | 6,355 | ||||
5.000% | 07/01/35 | 936 | 1,013,423 | ||||
5.000% | 11/01/35 | 140 | 152,112 | ||||
5.000% | 12/01/35 | 2 | 1,724 | ||||
5.000% | 04/01/40 | 7 | 7,964 | ||||
5.000% | 04/01/40 | 59 | 63,463 | ||||
5.000% | 06/01/40 | 70 | 76,189 | ||||
5.000% | 07/01/40 | 7 | 7,371 | ||||
5.000% | 07/01/40 | 43 | 46,039 | ||||
5.000% | 08/01/40 | 27 | 28,919 | ||||
5.000% | 08/01/40 | 74 | 80,517 | ||||
5.000% | 08/01/40 | 215 | 232,628 | ||||
5.000% | 06/01/41 | 125 | 134,961 | ||||
5.000% | 07/01/41 | 8 | 8,402 | ||||
5.000% | 07/01/41 | 10 | 10,456 | ||||
5.000% | 07/01/41 | 44 | 47,928 | ||||
5.000% | 07/01/41 | 49 | 53,251 | ||||
5.500% | 03/01/34 | 33 | 36,055 |
A43
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
5.500% | 07/01/35 | 22 | $24,530 | ||||
5.500% | 01/01/38 | 614 | 673,082 | ||||
5.500% | 06/01/41 | 218 | 238,799 | ||||
6.000% | 10/01/32 | —(r) | 247 | ||||
6.000% | 03/01/33 | 7 | 7,540 | ||||
6.000% | 12/01/33 | 15 | 16,556 | ||||
6.000% | 12/01/33 | 186 | 205,846 | ||||
6.000% | 06/01/37 | 1 | 1,359 | ||||
6.000% | 07/01/38 | 4 | 4,637 | ||||
6.000% | 08/01/38 | 9 | 9,687 | ||||
6.500% | 08/01/36 | 11 | 12,567 | ||||
6.500% | 09/01/39 | 29 | 32,108 | ||||
7.000% | 06/01/32 | 1 | 891 | ||||
7.000% | 06/01/32 | 1 | 1,202 | ||||
Federal Home Loan Mortgage Corp., 1 Year US Treasury Yield Curve Rate CMT + 2.250% (Cap 11.276%, Floor 2.250%) | |||||||
2.338%(c) | 10/01/36 | 1 | 1,150 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.625% (Cap 10.283%, Floor 1.625%) | |||||||
1.922%(c) | 04/01/37 | 36 | 37,740 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.725% (Cap 10.850%, Floor 1.725%) | |||||||
1.975%(c) | 07/01/35 | 1 | 633 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.733% (Cap 10.119%, Floor 1.733%) | |||||||
2.108%(c) | 02/01/37 | 14 | 14,691 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.750% (Cap 10.070%, Floor 1.750%) | |||||||
2.127%(c) | 02/01/35 | 3 | 2,759 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.750% (Cap 8.287%, Floor 1.750%) | |||||||
2.000%(c) | 07/01/41 | 182 | 190,594 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.750% (Cap 8.451%, Floor 1.750%) | |||||||
2.000%(c) | 12/01/40 | 101 | 104,553 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.785% (Cap 9.785%, Floor 1.785%) | |||||||
2.035%(c) | 02/01/37 | 1 | 1,129 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.829% (Cap 10.729%, Floor 1.829%) | |||||||
2.204%(c) | 02/01/37 | 4 | 3,760 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.830% (Cap 10.028%, Floor 1.830%) | |||||||
2.079%(c) | 03/01/36 | 4 | 3,962 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.842% (Cap 10.846%, Floor 1.842%) | |||||||
2.091%(c) | 01/01/37 | 5 | 4,783 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.902% (Cap 7.568%, Floor 1.902%) | |||||||
2.176%(c) | 10/01/42 | 26 | 27,276 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 1.929% (Cap 10.979%, Floor 1.929%) | |||||||
2.185%(c) | 12/01/36 | 1 | 1,074 | ||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 2.030% (Cap 11.126%, Floor 2.030%) | |||||||
2.275%(c) | 11/01/36 | 4 | 3,766 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
Federal Home Loan Mortgage Corp., 12 Month LIBOR + 2.162% (Cap 10.977%, Floor 2.162%) | |||||||
2.521%(c) | 02/01/37 | 7 | $7,055 | ||||
Federal National Mortgage Assoc. | |||||||
1.500% | TBA | 12,720 | 12,059,653 | ||||
2.000% | TBA | 127,220 | 118,090,971 | ||||
2.000% | 04/01/42 | 8,120 | 7,620,443 | ||||
2.000% | 07/01/50 | 222 | 207,180 | ||||
2.000% | 10/01/50 | 331 | 308,040 | ||||
2.000% | 10/01/50 | 2,166 | 2,018,170 | ||||
2.000% | 11/01/50 | 184 | 171,308 | ||||
2.000% | 05/01/51 | 94 | 87,369 | ||||
2.000% | 07/01/51 | 42 | 39,197 | ||||
2.000% | 07/01/51 | 91 | 84,780 | ||||
2.000% | 07/01/51 | 94 | 87,588 | ||||
2.000% | 12/01/51 | 14,370 | 13,354,771 | ||||
2.000% | 02/01/52 | 14,658 | 13,616,406 | ||||
2.500% | TBA | 16,780 | 16,582,704 | ||||
2.500% | TBA | 59,690 | 56,947,991 | ||||
2.500% | 11/01/29 | 17 | 16,505 | ||||
2.500% | 01/01/31 | 143 | 141,350 | ||||
2.500% | 11/01/34 | 4,540 | 4,500,290 | ||||
2.500% | 04/01/37 | 1,636 | 1,578,656 | ||||
2.500% | 10/01/37 | 198 | 191,748 | ||||
2.500% | 07/01/50 | 3,029 | 2,899,661 | ||||
2.500% | 09/01/50 | 2,081 | 1,994,213 | ||||
2.500% | 01/01/51 | 1,161 | 1,111,170 | ||||
2.500% | 02/01/51 | 1,165 | 1,113,229 | ||||
2.500% | 05/01/51 | 563 | 538,719 | ||||
2.500% | 05/01/51 | 735 | 703,643 | ||||
2.500% | 06/01/51 | 1,118 | 1,072,096 | ||||
2.500% | 06/01/51 | 1,781 | 1,701,325 | ||||
2.500% | 06/01/51 | 2,172 | 2,087,787 | ||||
2.500% | 07/01/51 | 1,677 | 1,602,410 | ||||
2.500% | 08/01/51 | 915 | 874,619 | ||||
2.500% | 08/01/51 | 3,815 | 3,644,453 | ||||
2.500% | 08/01/51 | 4,366 | 4,171,487 | ||||
2.500% | 08/01/51 | 10,959 | 10,471,856 | ||||
2.500% | 10/01/51 | 7,211 | 6,890,607 | ||||
2.500% | 10/01/51 | 8,524 | 8,144,576 | ||||
2.500% | 01/01/52 | 4,911 | 4,699,090 | ||||
2.500% | 01/01/52 | 12,075 | 11,536,403 | ||||
3.000% | TBA | 183,805 | 179,784,266 | ||||
3.000% | 01/01/27 | 182 | 183,314 | ||||
3.000% | 08/01/27 | 14 | 14,412 | ||||
3.000% | 08/01/27 | 15 | 15,626 | ||||
3.000% | 10/01/27 | 47 | 47,119 | ||||
3.000% | 11/01/27 | 14 | 13,980 | ||||
3.000% | 12/01/27 | 25 | 25,808 | ||||
3.000% | 01/01/28 | 24 | 24,270 | ||||
3.000% | 02/01/28 | 21 | 20,870 | ||||
3.000% | 03/01/28 | 25 | 24,966 | ||||
3.000% | 04/01/28 | 21 | 21,325 | ||||
3.000% | 05/01/28 | 25 | 25,587 | ||||
3.000% | 06/01/28 | 24 | 24,326 | ||||
3.000% | 06/01/28 | 2,204 | 2,224,169 | ||||
3.000% | 07/01/28 | 25 | 24,954 |
A44
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
3.000% | 08/01/28 | 26 | $26,255 | ||||
3.000% | 09/01/28 | 28 | 28,584 | ||||
3.000% | 11/01/28 | 478 | 483,268 | ||||
3.000% | 01/01/29 | 25 | 24,982 | ||||
3.000% | 02/01/29 | 447 | 451,184 | ||||
3.000% | 03/01/29 | 32 | 32,358 | ||||
3.000% | 12/01/32 | 182 | 183,773 | ||||
3.000% | 03/01/33 | 68 | 68,606 | ||||
3.000% | 06/01/33 | 12 | 11,663 | ||||
3.000% | 12/01/34 | 70 | 70,614 | ||||
3.000% | 12/01/34 | 235 | 237,947 | ||||
3.000% | 01/01/35 | 393 | 397,648 | ||||
3.000% | 05/01/35 | 6,704 | 6,788,649 | ||||
3.000% | 01/01/40 | 4,327 | 4,347,903 | ||||
3.000% | 04/01/40 | 7,390 | 7,353,258 | ||||
3.000% | 09/01/42 | 300 | 299,656 | ||||
3.000% | 10/01/42 | 302 | 301,499 | ||||
3.000% | 10/01/42 | 815 | 813,761 | ||||
3.000% | 11/01/42 | 174 | 173,606 | ||||
3.000% | 11/01/42 | 185 | 185,033 | ||||
3.000% | 02/01/43 | 7 | 6,851 | ||||
3.000% | 02/01/43 | 8 | 8,245 | ||||
3.000% | 02/01/43 | 19 | 18,672 | ||||
3.000% | 02/01/43 | 29 | 28,842 | ||||
3.000% | 02/01/43 | 40 | 39,757 | ||||
3.000% | 02/01/43 | 145 | 144,327 | ||||
3.000% | 04/01/43 | 10 | 10,394 | ||||
3.000% | 04/01/43 | 3,429 | 3,423,668 | ||||
3.000% | 05/01/43 | 18 | 18,180 | ||||
3.000% | 05/01/43 | 45 | 44,650 | ||||
3.000% | 05/01/43 | 76 | 76,115 | ||||
3.000% | 05/01/43 | 501 | 500,149 | ||||
3.000% | 07/01/43 | 139 | 138,949 | ||||
3.000% | 08/01/43 | 55 | 55,172 | ||||
3.000% | 08/01/43 | 486 | 490,635 | ||||
3.000% | 09/01/43 | 668 | 665,396 | ||||
3.000% | 02/01/44 | 111 | 111,961 | ||||
3.000% | 12/01/44 | 4 | 4,407 | ||||
3.000% | 05/01/45 | 157 | 155,794 | ||||
3.000% | 08/01/45 | 381 | 378,528 | ||||
3.000% | 05/01/46 | 4,076 | 4,046,618 | ||||
3.000% | 08/01/46 | 320 | 314,696 | ||||
3.000% | 10/01/46 | 170 | 168,674 | ||||
3.000% | 11/01/46 | 136 | 134,728 | ||||
3.000% | 11/01/46 | 411 | 407,144 | ||||
3.000% | 11/01/46 | 701 | 695,548 | ||||
3.000% | 11/01/46 | 1,231 | 1,222,329 | ||||
3.000% | 11/01/46 | 4,742 | 4,730,335 | ||||
3.000% | 11/01/46 | 12,384 | 12,284,669 | ||||
3.000% | 12/01/46 | 773 | 767,310 | ||||
3.000% | 06/01/47 | 1,340 | 1,331,280 | ||||
3.000% | 03/01/48 | 33 | 32,283 | ||||
3.000% | 08/01/49 | 1,074 | 1,060,916 | ||||
3.000% | 11/01/49 | 280 | 275,680 | ||||
3.000% | 02/01/50 | 291 | 285,801 | ||||
3.000% | 03/01/50 | 969 | 953,648 | ||||
3.000% | 05/01/50 | 52 | 51,434 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
3.000% | 05/01/50 | 19,362 | $19,025,642 | ||||
3.000% | 07/01/50 | 473 | 464,018 | ||||
3.000% | 07/01/50 | 1,443 | 1,422,114 | ||||
3.000% | 07/01/50 | 1,672 | 1,641,492 | ||||
3.000% | 08/01/50 | 783 | 768,689 | ||||
3.000% | 08/01/50 | 1,506 | 1,479,174 | ||||
3.000% | 08/01/50 | 2,225 | 2,184,320 | ||||
3.000% | 09/01/50 | 129 | 125,965 | ||||
3.000% | 10/01/50 | 2,771 | 2,722,388 | ||||
3.500% | TBA | 50,165 | 50,251,221 | ||||
3.500% | 07/01/30 | 48 | 49,710 | ||||
3.500% | 08/01/30 | 260 | 269,056 | ||||
3.500% | 07/01/32 | 657 | 665,059 | ||||
3.500% | 12/01/33 | 3,417 | 3,499,097 | ||||
3.500% | 01/01/34 | 7 | 7,426 | ||||
3.500% | 01/01/34 | 14 | 14,627 | ||||
3.500% | 01/01/34 | 31 | 30,977 | ||||
3.500% | 01/01/34 | 49 | 49,593 | ||||
3.500% | 05/01/34 | 1,420 | 1,461,931 | ||||
3.500% | 07/01/34 | 61 | 63,524 | ||||
3.500% | 07/01/34 | 183 | 188,441 | ||||
3.500% | 08/01/34 | 226 | 232,815 | ||||
3.500% | 02/01/35 | 155 | 156,460 | ||||
3.500% | 09/01/37 | 111 | 111,920 | ||||
3.500% | 12/01/41 | 93 | 94,861 | ||||
3.500% | 06/01/42 | 152 | 154,726 | ||||
3.500% | 06/01/42 | 312 | 318,544 | ||||
3.500% | 07/01/42 | 181 | 184,865 | ||||
3.500% | 08/01/42 | 419 | 427,839 | ||||
3.500% | 09/01/42 | 700 | 715,204 | ||||
3.500% | 10/01/42 | 649 | 663,115 | ||||
3.500% | 11/01/42 | 99 | 100,878 | ||||
3.500% | 01/01/43 | 110 | 112,553 | ||||
3.500% | 01/01/43 | 729 | 744,985 | ||||
3.500% | 04/01/43 | 68 | 68,892 | ||||
3.500% | 05/01/43 | 1,060 | 1,080,836 | ||||
3.500% | 06/01/43 | 418 | 425,830 | ||||
3.500% | 06/01/43 | 418 | 426,037 | ||||
3.500% | 07/01/43 | 58 | 58,680 | ||||
3.500% | 07/01/43 | 133 | 134,935 | ||||
3.500% | 07/01/43 | 162 | 165,567 | ||||
3.500% | 07/01/43 | 264 | 269,110 | ||||
3.500% | 07/01/43 | 524 | 534,447 | ||||
3.500% | 08/01/43 | 106 | 107,999 | ||||
3.500% | 08/01/43 | 130 | 132,787 | ||||
3.500% | 03/01/44 | 655 | 667,655 | ||||
3.500% | 11/01/45 | 48 | 49,226 | ||||
3.500% | 12/01/45 | 1,754 | 1,778,098 | ||||
3.500% | 12/01/45 | 7,005 | 7,135,191 | ||||
3.500% | 01/01/46 | 45 | 45,996 | ||||
3.500% | 01/01/46 | 540 | 550,303 | ||||
3.500% | 01/01/46 | 701 | 713,495 | ||||
3.500% | 05/01/46 | 240 | 245,537 | ||||
3.500% | 06/01/46 | 826 | 837,542 | ||||
3.500% | 08/01/47 | 106 | 107,392 | ||||
3.500% | 09/01/47 | 52 | 52,158 | ||||
3.500% | 10/01/47 | 222 | 224,672 |
A45
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
3.500% | 11/01/47 | 62 | $62,746 | ||||
3.500% | 01/01/48 | 286 | 291,655 | ||||
3.500% | 01/01/48 | 2,826 | 2,852,992 | ||||
3.500% | 02/01/48 | 1,275 | 1,289,752 | ||||
3.500% | 12/01/48 | 2,478 | 2,506,901 | ||||
3.500% | 06/01/49 | 1,209 | 1,223,410 | ||||
3.500% | 06/01/49 | 5,222 | 5,281,753 | ||||
3.500% | 06/01/49 | 8,903 | 9,056,819 | ||||
3.500% | 07/01/50 | 2,524 | 2,545,488 | ||||
3.500% | 08/01/50 | 329 | 331,773 | ||||
3.500% | 01/01/52 | 6,508 | 6,531,453 | ||||
4.000% | TBA | 33,945 | 34,645,116 | ||||
4.000% | 11/01/31 | 47 | 48,561 | ||||
4.000% | 11/01/40 | 70 | 72,911 | ||||
4.000% | 11/01/40 | 538 | 561,282 | ||||
4.000% | 12/01/40 | 664 | 692,843 | ||||
4.000% | 01/01/41 | 81 | 84,518 | ||||
4.000% | 01/01/41 | 419 | 436,821 | ||||
4.000% | 02/01/41 | 81 | 84,325 | ||||
4.000% | 02/01/41 | 259 | 271,201 | ||||
4.000% | 03/01/41 | 672 | 702,589 | ||||
4.000% | 04/01/41 | 229 | 239,472 | ||||
4.000% | 10/01/41 | 250 | 261,855 | ||||
4.000% | 11/01/41 | 231 | 242,129 | ||||
4.000% | 01/01/42 | 307 | 321,579 | ||||
4.000% | 01/01/42 | 389 | 405,728 | ||||
4.000% | 02/01/42 | 36 | 36,829 | ||||
4.000% | 02/01/42 | 247 | 257,605 | ||||
4.000% | 02/01/42 | 358 | 374,037 | ||||
4.000% | 08/01/42 | 808 | 848,818 | ||||
4.000% | 10/01/43 | 154 | 161,220 | ||||
4.000% | 05/01/45 | 177 | 184,592 | ||||
4.000% | 06/01/45 | 286 | 292,807 | ||||
4.000% | 07/01/45 | 87 | 90,740 | ||||
4.000% | 09/01/45 | 141 | 146,062 | ||||
4.000% | 10/01/45 | 9,001 | 9,408,568 | ||||
4.000% | 12/01/45 | 163 | 169,287 | ||||
4.000% | 03/01/46 | 618 | 646,319 | ||||
4.000% | 09/01/46 | 132 | 137,823 | ||||
4.000% | 02/01/47 | 7,428 | 7,725,886 | ||||
4.000% | 08/01/47 | 1,648 | 1,711,057 | ||||
4.000% | 12/01/47 | 97 | 99,325 | ||||
4.000% | 10/01/48 | 2,137 | 2,217,559 | ||||
4.000% | 12/01/49 | 692 | 706,894 | ||||
4.000% | 10/01/51 | 3,553 | 3,647,467 | ||||
4.500% | TBA | 18,445 | 19,113,631 | ||||
4.500% | 08/01/24 | 6 | 5,908 | ||||
4.500% | 04/01/26 | 27 | 27,489 | ||||
4.500% | 04/01/26 | 117 | 120,294 | ||||
4.500% | 07/01/26 | 11 | 11,237 | ||||
4.500% | 10/01/26 | 42 | 43,318 | ||||
4.500% | 01/01/27 | 181 | 186,119 | ||||
4.500% | 03/01/39 | 165 | 174,718 | ||||
4.500% | 06/01/39 | 83 | 87,568 | ||||
4.500% | 08/01/39 | 217 | 228,299 | ||||
4.500% | 09/01/39 | 246 | 261,469 | ||||
4.500% | 11/01/39 | 70 | 74,360 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
4.500% | 12/01/39 | 355 | $376,971 | ||||
4.500% | 12/01/39 | 792 | 842,606 | ||||
4.500% | 04/01/40 | 550 | 583,652 | ||||
4.500% | 07/01/40 | 56 | 59,976 | ||||
4.500% | 09/01/40 | 650 | 689,679 | ||||
4.500% | 11/01/40 | 945 | 1,001,750 | ||||
4.500% | 12/01/40 | 68 | 72,743 | ||||
4.500% | 12/01/40 | 96 | 101,816 | ||||
4.500% | 12/01/40 | 453 | 482,077 | ||||
4.500% | 02/01/41 | 111 | 117,800 | ||||
4.500% | 02/01/41 | 114 | 121,518 | ||||
4.500% | 02/01/41 | 163 | 172,965 | ||||
4.500% | 02/01/41 | 284 | 302,015 | ||||
4.500% | 04/01/41 | 821 | 873,272 | ||||
4.500% | 05/01/41 | 24 | 25,440 | ||||
4.500% | 05/01/41 | 842 | 893,252 | ||||
4.500% | 06/01/41 | 73 | 77,801 | ||||
4.500% | 06/01/41 | 73 | 77,987 | ||||
4.500% | 08/01/41 | 10 | 10,576 | ||||
4.500% | 10/01/41 | 10 | 10,350 | ||||
4.500% | 10/01/41 | 16 | 17,070 | ||||
4.500% | 11/01/41 | 12 | 13,084 | ||||
4.500% | 11/01/41 | 291 | 309,200 | ||||
4.500% | 04/01/42 | 122 | 129,225 | ||||
4.500% | 08/01/42 | 27 | 28,667 | ||||
4.500% | 09/01/42 | 21 | 22,255 | ||||
4.500% | 09/01/42 | 41 | 43,531 | ||||
4.500% | 09/01/42 | 72 | 76,179 | ||||
4.500% | 10/01/42 | 165 | 175,738 | ||||
4.500% | 09/01/43 | 64 | 68,641 | ||||
4.500% | 11/01/43 | 39 | 41,995 | ||||
4.500% | 06/01/44 | 49 | 51,879 | ||||
4.500% | 10/01/44 | 155 | 163,985 | ||||
4.500% | 02/01/45 | 36 | 37,854 | ||||
4.500% | 02/01/45 | 84 | 89,960 | ||||
4.500% | 10/01/45 | 99 | 105,601 | ||||
4.500% | 02/01/46 | 123 | 130,837 | ||||
4.500% | 06/01/46 | 31 | 32,121 | ||||
4.500% | 10/01/46 | 46 | 47,521 | ||||
4.500% | 11/01/46 | 41 | 43,159 | ||||
4.500% | 12/01/46 | 82 | 86,049 | ||||
4.500% | 01/01/47 | 24 | 25,311 | ||||
4.500% | 01/01/47 | 29 | 30,109 | ||||
4.500% | 02/01/47 | 38 | 40,033 | ||||
4.500% | 05/01/47 | 1,190 | 1,264,985 | ||||
4.500% | 11/01/47 | 1,520 | 1,603,648 | ||||
4.500% | 08/01/48 | 280 | 291,940 | ||||
4.500% | 12/01/48 | 1,188 | 1,234,952 | ||||
4.500% | 05/01/49 | 1,928 | 2,002,935 | ||||
4.500% | 08/01/49 | 915 | 951,319 | ||||
4.500% | 09/01/49 | 4,809 | 5,073,395 | ||||
4.500% | 01/01/50 | 222 | 231,191 | ||||
4.500% | 05/01/50 | 226 | 235,353 | ||||
5.000% | TBA | 12,730 | 13,392,855 | ||||
5.000% | 06/01/23 | —(r) | 483 | ||||
5.000% | 09/01/23 | 94 | 98,839 | ||||
5.000% | 01/01/24 | 12 | 12,450 |
A46
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
5.000% | 06/01/24 | 7 | $6,967 | ||||
5.000% | 09/01/25 | 9 | 8,889 | ||||
5.000% | 04/01/34 | 6 | 6,631 | ||||
5.000% | 07/01/34 | 7 | 7,769 | ||||
5.000% | 03/01/35 | 306 | 330,529 | ||||
5.000% | 04/01/35 | 34 | 36,709 | ||||
5.000% | 04/01/35 | 349 | 376,778 | ||||
5.000% | 05/01/35 | 40 | 43,300 | ||||
5.000% | 06/01/35 | 11 | 11,494 | ||||
5.000% | 06/01/35 | 19 | 20,721 | ||||
5.000% | 06/01/35 | 42 | 45,300 | ||||
5.000% | 09/01/35 | 27 | 28,682 | ||||
5.000% | 10/01/35 | 50 | 53,749 | ||||
5.000% | 10/01/35 | 269 | 290,380 | ||||
5.000% | 03/01/36 | 95 | 103,165 | ||||
5.000% | 12/01/36 | 9 | 9,212 | ||||
5.000% | 12/01/36 | 378 | 408,606 | ||||
5.000% | 07/01/37 | 7 | 7,357 | ||||
5.000% | 07/01/37 | 961 | 1,038,432 | ||||
5.000% | 02/01/38 | 36 | 38,476 | ||||
5.000% | 05/01/38 | 232 | 250,591 | ||||
5.000% | 06/01/39 | 29 | 31,620 | ||||
5.000% | 06/01/39 | 142 | 152,873 | ||||
5.000% | 06/01/40 | 104 | 111,778 | ||||
5.000% | 06/01/40 | 128 | 138,801 | ||||
5.000% | 08/01/40 | 204 | 220,069 | ||||
5.000% | 04/01/41 | 406 | 436,769 | ||||
5.000% | 06/01/41 | 23 | 24,779 | ||||
5.000% | 06/01/41 | 69 | 73,806 | ||||
5.000% | 08/01/41 | 31 | 33,220 | ||||
5.000% | 09/01/41 | 191 | 206,299 | ||||
5.000% | 01/01/42 | 225 | 243,608 | ||||
5.000% | 02/01/42 | 68 | 73,150 | ||||
5.000% | 05/01/42 | 135 | 145,733 | ||||
5.000% | 07/01/42 | 292 | 315,204 | ||||
5.000% | 11/01/44 | 435 | 469,471 | ||||
5.000% | 07/01/45 | 1,138 | 1,205,680 | ||||
5.000% | 12/01/47 | 2,167 | 2,342,837 | ||||
5.000% | 02/01/49 | 1,220 | 1,313,914 | ||||
5.237% | 08/01/41 | 107 | 112,777 | ||||
5.500% | 07/01/22 | —(r) | 25 | ||||
5.500% | 07/01/22 | —(r) | 106 | ||||
5.500% | 08/01/22 | —(r) | 63 | ||||
5.500% | 01/01/23 | 11 | 10,619 | ||||
5.500% | 09/01/34 | 130 | 142,753 | ||||
5.500% | 11/01/34 | 10 | 11,070 | ||||
5.500% | 12/01/34 | 40 | 44,282 | ||||
5.500% | 04/01/35 | 23 | 25,670 | ||||
5.500% | 11/01/35 | 126 | 138,304 | ||||
5.500% | 12/01/35 | 33 | 35,988 | ||||
5.500% | 01/01/36 | 4 | 4,857 | ||||
5.500% | 01/01/36 | 33 | 35,697 | ||||
5.500% | 03/01/36 | 5 | 5,212 | ||||
5.500% | 03/01/36 | 7 | 7,794 | ||||
5.500% | 05/01/36 | 154 | 168,983 | ||||
5.500% | 05/01/36 | 313 | 342,933 | ||||
5.500% | 07/01/36 | 682 | 747,157 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
5.500% | 11/01/36 | 3 | $3,042 | ||||
5.500% | 08/01/37 | 7 | 8,183 | ||||
5.500% | 08/01/37 | 47 | 51,477 | ||||
5.500% | 08/01/37 | 191 | 209,106 | ||||
5.500% | 08/01/37 | 368 | 403,230 | ||||
5.500% | 09/01/37 | 125 | 137,331 | ||||
5.500% | 02/01/38 | 48 | 52,121 | ||||
5.500% | 02/01/38 | 314 | 344,037 | ||||
5.500% | 09/01/38 | 182 | 198,870 | ||||
5.500% | 04/01/39 | 101 | 111,581 | ||||
5.500% | 05/01/39 | 99 | 108,622 | ||||
5.500% | 03/01/40 | 198 | 217,101 | ||||
5.500% | 09/01/41 | 2 | 1,842 | ||||
5.500% | 09/01/41 | 301 | 331,189 | ||||
6.000% | 11/01/32 | 8 | 8,482 | ||||
6.000% | 03/01/33 | 8 | 8,908 | ||||
6.000% | 04/01/33 | 9 | 10,088 | ||||
6.000% | 02/01/34 | 83 | 89,414 | ||||
6.000% | 08/01/34 | 6 | 6,935 | ||||
6.000% | 11/01/34 | 6 | 6,284 | ||||
6.000% | 11/01/34 | 344 | 374,394 | ||||
6.000% | 11/01/35 | 59 | 65,304 | ||||
6.000% | 12/01/35 | 11 | 12,112 | ||||
6.000% | 02/01/36 | 419 | 465,871 | ||||
6.000% | 04/01/36 | —(r) | 37 | ||||
6.000% | 05/01/36 | 103 | 114,826 | ||||
6.000% | 05/01/36 | 129 | 143,747 | ||||
6.000% | 06/01/36 | 13 | 14,885 | ||||
6.000% | 09/01/36 | 12 | 12,835 | ||||
6.000% | 09/01/36 | 906 | 1,001,744 | ||||
6.000% | 11/01/36 | 28 | 31,113 | ||||
6.000% | 12/01/36 | 4 | 4,138 | ||||
6.000% | 01/01/37 | —(r) | 108 | ||||
6.000% | 01/01/37 | 12 | 13,254 | ||||
6.000% | 02/01/37 | 9 | 9,542 | ||||
6.000% | 02/01/37 | 106 | 117,990 | ||||
6.000% | 03/01/37 | 47 | 52,021 | ||||
6.000% | 03/01/37 | 300 | 335,200 | ||||
6.000% | 03/01/37 | 683 | 753,404 | ||||
6.000% | 05/01/37 | —(r) | 214 | ||||
6.000% | 05/01/37 | 6 | 6,605 | ||||
6.000% | 06/01/37 | 13 | 14,008 | ||||
6.000% | 08/01/37 | 105 | 115,692 | ||||
6.000% | 08/01/37 | 583 | 644,402 | ||||
6.000% | 10/01/37 | 16 | 16,961 | ||||
6.000% | 02/01/38 | 37 | 41,095 | ||||
6.000% | 03/01/38 | 419 | 468,431 | ||||
6.000% | 04/01/38 | 15 | 16,982 | ||||
6.000% | 05/01/38 | 101 | 112,459 | ||||
6.000% | 08/01/38 | 12 | 13,703 | ||||
6.000% | 09/01/38 | 19 | 21,198 | ||||
6.000% | 10/01/38 | 88 | 98,377 | ||||
6.000% | 12/01/38 | 4 | 4,764 | ||||
6.000% | 04/01/39 | 6 | 6,640 | ||||
6.000% | 06/01/39 | 109 | 120,993 | ||||
6.000% | 09/01/39 | 477 | 532,642 | ||||
6.000% | 10/01/39 | 135 | 150,896 |
A47
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
6.000% | 02/01/40 | 64 | $71,298 | ||||
6.000% | 10/01/40 | 127 | 141,989 | ||||
6.500% | 07/01/32 | 4 | 4,530 | ||||
6.500% | 07/01/32 | 32 | 34,577 | ||||
6.500% | 07/01/32 | 55 | 60,205 | ||||
6.500% | 12/01/32 | 6 | 6,117 | ||||
6.500% | 12/01/32 | 14 | 15,243 | ||||
6.500% | 07/01/35 | 16 | 17,222 | ||||
6.500% | 12/01/35 | 145 | 158,315 | ||||
6.500% | 07/01/36 | 2 | 2,658 | ||||
6.500% | 07/01/36 | 504 | 551,537 | ||||
6.500% | 08/01/36 | 25 | 27,367 | ||||
6.500% | 08/01/36 | 94 | 104,430 | ||||
6.500% | 08/01/36 | 118 | 129,807 | ||||
6.500% | 09/01/36 | 56 | 60,113 | ||||
6.500% | 09/01/36 | 217 | 236,259 | ||||
6.500% | 10/01/36 | 6 | 6,722 | ||||
6.500% | 10/01/36 | 108 | 119,931 | ||||
6.500% | 11/01/36 | 5 | 4,973 | ||||
6.500% | 12/01/36 | 2 | 2,382 | ||||
6.500% | 08/01/37 | 3 | 2,798 | ||||
6.500% | 10/01/37 | 3 | 3,119 | ||||
6.500% | 10/01/37 | 87 | 97,629 | ||||
6.500% | 10/01/37 | 365 | 402,246 | ||||
6.500% | 08/01/38 | 40 | 44,703 | ||||
6.500% | 06/01/39 | 27 | 29,458 | ||||
6.500% | 10/01/39 | 129 | 141,690 | ||||
6.500% | 05/01/40 | 124 | 136,920 | ||||
6.500% | 05/01/40 | 162 | 178,638 | ||||
6.637% | 02/01/39 | 60 | 64,058 | ||||
7.000% | 01/01/31 | —(r) | 144 | ||||
7.000% | 04/01/32 | —(r) | 132 | ||||
7.000% | 04/01/37 | 26 | 26,890 | ||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.340% (Cap 11.165%, Floor 1.340%) | |||||||
1.590%(c) | 12/01/35 | 3 | 2,681 | ||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.568% (Cap 9.681%, Floor 1.568%) | |||||||
1.818%(c) | 07/01/35 | 3 | 2,942 | ||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.584% (Cap 10.387%, Floor 1.584%) | |||||||
1.834%(c) | 12/01/35 | 7 | 7,305 | ||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.655% (Cap 10.932%, Floor 1.655%) | |||||||
1.905%(c) | 08/01/37 | 3 | 3,164 | ||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.700% (Cap 10.617%, Floor 1.700%) | |||||||
1.950%(c) | 11/01/37 | 17 | 17,685 | ||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.800% (Cap 7.708%, Floor 1.800%) | |||||||
2.054%(c) | 01/01/42 | 68 | 69,611 | ||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.804% (Cap 8.521%, Floor 1.804%) | |||||||
2.054%(c) | 12/01/40 | 118 | 122,336 | ||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.818% (Cap 7.670%, Floor 1.818%) | |||||||
2.304%(c) | 02/01/42 | 18 | 19,042 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.881% (Cap 11.093%, Floor 1.881%) | |||||||
2.131%(c) | 08/01/36 | 5 | $5,060 | ||||
Federal National Mortgage Assoc., 12 Month LIBOR + 1.892% (Cap 10.733%, Floor 1.892%) | |||||||
2.142%(c) | 12/01/35 | 2 | 2,389 | ||||
Government National Mortgage Assoc. | |||||||
2.000% | TBA | 11,265 | 10,715,831 | ||||
2.000% | 08/20/51 | 21,441 | 20,475,070 | ||||
2.500% | 08/20/50 | 2,858 | 2,776,164 | ||||
2.500% | 08/20/51 | 2,550 | 2,476,952 | ||||
2.500% | 10/20/51 | 28,346 | 27,530,118 | ||||
2.500% | 12/20/51 | 9,631 | 9,353,792 | ||||
3.000% | TBA | 8,010 | 7,915,820 | ||||
3.000% | 10/15/42 | 29 | 29,455 | ||||
3.000% | 12/15/42 | 11 | 10,723 | ||||
3.000% | 05/15/43 | 28 | 27,561 | ||||
3.000% | 06/15/43 | 3 | 3,423 | ||||
3.000% | 07/15/43 | 63 | 62,192 | ||||
3.000% | 08/20/43 | 710 | 708,202 | ||||
3.000% | 09/20/43 | 692 | 689,754 | ||||
3.000% | 01/20/44 | 74 | 73,472 | ||||
3.000% | 02/20/44 | 242 | 241,632 | ||||
3.000% | 05/20/45 | 7,464 | 7,443,213 | ||||
3.000% | 06/20/45 | 794 | 796,549 | ||||
3.000% | 05/20/46 | 110 | 109,338 | ||||
3.000% | 05/20/46 | 244 | 242,025 | ||||
3.000% | 05/20/46 | 581 | 579,225 | ||||
3.000% | 06/20/46 | 559 | 553,874 | ||||
3.000% | 07/20/46 | 154 | 152,209 | ||||
3.000% | 07/20/46 | 259 | 256,741 | ||||
3.000% | 07/20/46 | 271 | 269,638 | ||||
3.000% | 07/20/46 | 341 | 338,003 | ||||
3.000% | 07/20/46 | 722 | 714,895 | ||||
3.000% | 07/20/46 | 735 | 727,414 | ||||
3.000% | 08/20/46 | 211 | 208,891 | ||||
3.000% | 08/20/46 | 311 | 307,534 | ||||
3.000% | 08/20/46 | 311 | 308,015 | ||||
3.000% | 09/20/46 | 150 | 147,738 | ||||
3.000% | 09/20/46 | 176 | 174,316 | ||||
3.000% | 10/20/46 | 4,783 | 4,764,441 | ||||
3.000% | 08/20/49 | 336 | 331,364 | ||||
3.000% | 10/20/49 | 850 | 835,269 | ||||
3.000% | 12/20/49 | 15 | 14,798 | ||||
3.000% | 01/20/50 | 21 | 20,889 | ||||
3.000% | 04/20/50 | 262 | 260,317 | ||||
3.000% | 05/20/50 | 1,866 | 1,823,433 | ||||
3.000% | 07/20/50 | 294 | 291,433 | ||||
3.000% | 07/20/50 | 496 | 487,903 | ||||
3.000% | 05/20/51 | 2,183 | 2,164,396 | ||||
3.000% | 06/20/51 | 1,704 | 1,689,776 | ||||
3.000% | 07/20/51 | 8,438 | 8,364,164 | ||||
3.500% | TBA | 34,875 | 35,065,723 | ||||
3.500% | 05/20/42 | 22 | 22,998 | ||||
3.500% | 08/20/42 | 553 | 565,436 | ||||
3.500% | 11/20/42 | 12 | 12,583 | ||||
3.500% | 12/20/42 | 290 | 297,811 |
A48
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
3.500% | 03/20/43 | 705 | $719,010 | ||||
3.500% | 04/20/43 | 28 | 28,890 | ||||
3.500% | 05/20/43 | 376 | 386,103 | ||||
3.500% | 08/20/43 | 22 | 22,161 | ||||
3.500% | 11/15/43 | 892 | 931,174 | ||||
3.500% | 03/20/44 | 3 | 3,298 | ||||
3.500% | 10/20/44 | 117 | 119,399 | ||||
3.500% | 02/15/45 | 135 | 138,691 | ||||
3.500% | 02/20/45 | 348 | 352,401 | ||||
3.500% | 04/20/45 | 61 | 62,668 | ||||
3.500% | 05/20/45 | 85 | 86,193 | ||||
3.500% | 05/20/45 | 220 | 224,562 | ||||
3.500% | 01/20/46 | 70 | 71,650 | ||||
3.500% | 04/20/46 | 22 | 22,590 | ||||
3.500% | 05/20/46 | 4 | 4,095 | ||||
3.500% | 05/20/46 | 6 | 6,308 | ||||
3.500% | 05/20/46 | 8 | 7,690 | ||||
3.500% | 05/20/46 | 14 | 14,077 | ||||
3.500% | 05/20/46 | 14 | 14,457 | ||||
3.500% | 05/20/46 | 18 | 18,365 | ||||
3.500% | 05/20/46 | 20 | 20,206 | ||||
3.500% | 05/20/46 | 32 | 32,995 | ||||
3.500% | 05/20/46 | 77 | 78,025 | ||||
3.500% | 06/20/46 | 15 | 15,284 | ||||
3.500% | 06/20/46 | 15 | 15,595 | ||||
3.500% | 06/20/46 | 17 | 16,807 | ||||
3.500% | 06/20/46 | 20 | 20,499 | ||||
3.500% | 06/20/46 | 55 | 55,986 | ||||
3.500% | 06/20/46 | 113 | 114,878 | ||||
3.500% | 06/20/46 | 6,725 | 6,845,375 | ||||
3.500% | 07/20/46 | 324 | 330,105 | ||||
3.500% | 07/20/46 | 1,205 | 1,256,176 | ||||
3.500% | 09/20/46 | 393 | 399,160 | ||||
3.500% | 10/20/46 | 6,749 | 6,872,718 | ||||
3.500% | 12/20/47 | 3,339 | 3,384,808 | ||||
3.500% | 02/20/48 | 132 | 133,873 | ||||
3.500% | 12/20/49 | 5 | 4,827 | ||||
3.500% | 12/20/49 | 6 | 6,417 | ||||
3.500% | 12/20/49 | 8 | 8,198 | ||||
3.500% | 12/20/49 | 20 | 20,016 | ||||
3.500% | 01/20/50 | 1,581 | 1,592,885 | ||||
3.500% | 03/20/50 | 2,860 | 2,895,712 | ||||
3.500% | 04/20/50 | 394 | 397,789 | ||||
3.500% | 04/20/50 | 6,290 | 6,341,945 | ||||
3.500% | 05/20/50 | 600 | 605,170 | ||||
3.500% | 11/20/50 | 633 | 637,711 | ||||
4.000% | 09/20/25 | 19 | 19,325 | ||||
4.000% | 11/20/25 | 43 | 44,543 | ||||
4.000% | 01/20/26 | 13 | 13,657 | ||||
4.000% | 10/20/40 | 54 | 56,414 | ||||
4.000% | 02/20/41 | 61 | 64,386 | ||||
4.000% | 03/20/41 | 239 | 251,589 | ||||
4.000% | 05/20/41 | 491 | 516,302 | ||||
4.000% | 10/15/41 | 24 | 24,929 | ||||
4.000% | 10/15/41 | 98 | 103,212 | ||||
4.000% | 10/15/41 | 111 | 117,522 | ||||
4.000% | 10/20/41 | 647 | 679,599 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
4.000% | 11/20/41 | 93 | $97,233 | ||||
4.000% | 12/20/41 | 45 | 47,332 | ||||
4.000% | 09/20/42 | 45 | 47,569 | ||||
4.000% | 11/20/42 | 38 | 39,547 | ||||
4.000% | 08/20/43 | 18 | 18,792 | ||||
4.000% | 03/20/45 | 2,629 | 2,761,706 | ||||
4.000% | 08/20/45 | 179 | 188,205 | ||||
4.000% | 01/15/47 | 14 | 14,808 | ||||
4.000% | 01/15/47 | 22 | 22,855 | ||||
4.000% | 06/20/47 | 1,917 | 1,975,470 | ||||
4.000% | 09/20/47 | 1,250 | 1,290,939 | ||||
4.000% | 01/20/48 | 576 | 592,732 | ||||
4.000% | 05/20/49 | 164 | 169,364 | ||||
4.000% | 10/20/50 | 3,763 | 3,857,353 | ||||
4.500% | TBA | 3,095 | 3,199,456 | ||||
4.500% | 04/20/35 | 13 | 13,501 | ||||
4.500% | 05/15/39 | 7 | 7,024 | ||||
4.500% | 08/15/39 | 49 | 53,030 | ||||
4.500% | 09/15/39 | 227 | 244,982 | ||||
4.500% | 09/20/39 | 3 | 3,089 | ||||
4.500% | 10/15/39 | 17 | 18,228 | ||||
4.500% | 11/15/39 | 9 | 9,464 | ||||
4.500% | 11/15/39 | 14 | 14,888 | ||||
4.500% | 11/20/39 | 63 | 67,026 | ||||
4.500% | 02/15/40 | 29 | 30,754 | ||||
4.500% | 02/20/40 | 555 | 590,856 | ||||
4.500% | 03/15/40 | 53 | 57,612 | ||||
4.500% | 05/20/40 | 455 | 484,730 | ||||
4.500% | 06/15/40 | 3 | 3,079 | ||||
4.500% | 06/15/40 | 23 | 25,198 | ||||
4.500% | 06/15/40 | 27 | 28,512 | ||||
4.500% | 06/15/40 | 77 | 83,015 | ||||
4.500% | 06/15/40 | 244 | 262,843 | ||||
4.500% | 07/15/40 | 2 | 2,212 | ||||
4.500% | 07/15/40 | 10 | 10,871 | ||||
4.500% | 08/15/40 | 34 | 36,705 | ||||
4.500% | 09/15/40 | 121 | 130,739 | ||||
4.500% | 09/20/40 | 261 | 278,403 | ||||
4.500% | 10/15/40 | 11 | 11,640 | ||||
4.500% | 11/20/40 | 137 | 146,154 | ||||
4.500% | 02/20/41 | 612 | 656,557 | ||||
4.500% | 03/15/41 | 104 | 111,982 | ||||
4.500% | 03/20/41 | 691 | 736,118 | ||||
4.500% | 05/20/41 | 2 | 1,970 | ||||
4.500% | 05/20/41 | 45 | 48,262 | ||||
4.500% | 06/20/41 | 8 | 8,407 | ||||
4.500% | 07/20/41 | 85 | 90,619 | ||||
4.500% | 08/20/41 | 526 | 559,723 | ||||
4.500% | 11/20/41 | 2 | 2,004 | ||||
4.500% | 02/20/42 | 2 | 2,306 | ||||
4.500% | 05/20/42 | 15 | 15,946 | ||||
4.500% | 06/20/43 | 3 | 2,960 | ||||
4.500% | 06/20/44 | 3 | 2,810 | ||||
4.500% | 10/20/44 | 3 | 2,670 | ||||
4.500% | 01/20/45 | 2 | 2,544 | ||||
4.500% | 09/15/45 | 399 | 430,538 | ||||
4.500% | 01/20/46 | 315 | 335,692 |
A49
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
4.500% | 03/20/46 | 4 | $4,266 | ||||
4.500% | 05/20/46 | 3 | 3,153 | ||||
4.500% | 07/20/46 | 128 | 136,489 | ||||
4.500% | 08/20/46 | 212 | 226,979 | ||||
4.500% | 09/20/46 | 171 | 184,195 | ||||
4.500% | 01/20/47 | 473 | 503,061 | ||||
5.000% | 11/15/33 | 4 | 3,937 | ||||
5.000% | 03/20/34 | 1 | 686 | ||||
5.000% | 05/15/34 | 174 | 189,394 | ||||
5.000% | 07/20/39 | 102 | 111,995 | ||||
5.000% | 08/15/39 | 8 | 9,184 | ||||
5.000% | 09/15/39 | 78 | 85,278 | ||||
5.000% | 10/15/39 | 17 | 18,370 | ||||
5.000% | 10/15/39 | 62 | 67,578 | ||||
5.000% | 10/20/39 | 5 | 5,435 | ||||
5.000% | 02/15/40 | 169 | 186,818 | ||||
5.000% | 02/15/40 | 169 | 186,818 | ||||
5.000% | 04/15/40 | 74 | 81,096 | ||||
5.000% | 05/20/40 | 403 | 442,600 | ||||
5.000% | 06/15/40 | 44 | 48,224 | ||||
5.000% | 06/15/40 | 69 | 76,092 | ||||
5.000% | 06/20/40 | 286 | 312,789 | ||||
5.000% | 07/15/40 | 7 | 7,916 | ||||
5.000% | 08/15/40 | 15 | 16,901 | ||||
5.000% | 08/20/40 | 219 | 239,789 | ||||
5.000% | 09/15/40 | 9 | 10,178 | ||||
5.000% | 09/15/40 | 13 | 14,749 | ||||
5.000% | 09/20/40 | 147 | 161,588 | ||||
5.000% | 03/20/41 | 300 | 329,411 | ||||
5.000% | 08/20/41 | 338 | 370,496 | ||||
5.000% | 06/20/47 | 413 | 441,355 | ||||
5.000% | 04/20/48 | 164 | 175,744 | ||||
5.000% | 06/20/48 | 239 | 250,944 | ||||
5.000% | 09/20/48 | 1,513 | 1,589,585 | ||||
5.000% | 12/20/48 | 1,236 | 1,298,102 | ||||
5.000% | 05/20/49 | 83 | 87,296 | ||||
5.000% | 06/20/49 | 2,326 | 2,440,274 | ||||
5.500% | 10/20/32 | 1 | 1,159 | ||||
5.500% | 03/20/34 | 4 | 3,982 | ||||
5.500% | 01/20/36 | 702 | 778,600 | ||||
5.500% | 03/20/48 | 351 | 379,933 | ||||
5.500% | 04/20/48 | 247 | 266,431 | ||||
5.500% | 05/20/48 | 122 | 130,850 | ||||
5.500% | 09/20/48 | 3 | 3,429 | ||||
5.500% | 10/20/48 | 71 | 75,212 | ||||
5.500% | 11/20/48 | 334 | 355,781 | ||||
5.500% | 12/20/48 | 1,364 | 1,450,405 | ||||
5.500% | 01/20/49 | 312 | 331,225 | ||||
5.500% | 03/20/49 | 447 | 476,388 | ||||
5.500% | 04/20/49 | 23 | 25,014 | ||||
6.000% | 12/20/38 | 1,071 | 1,188,283 | ||||
6.000% | 05/15/40 | 339 | 379,521 | ||||
8.000% | 09/15/22 | —(r) | 32 | ||||
8.500% | 06/15/26 | 1 | 948 | ||||
Total U.S. Government Agency Obligations (cost $1,209,085,138) | 1,170,847,521 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Treasury Obligations — 5.8% | |||||||
U.S. Treasury Bonds | |||||||
1.125% | 05/15/40(k) | 6,139 | $4,835,264 | ||||
1.125% | 08/15/40 | 7,997 | 6,265,150 | ||||
1.375% | 11/15/40 | 29,713 | 24,285,735 | ||||
1.375% | 08/15/50 | 4,854 | 3,737,580 | ||||
1.625% | 11/15/50 | 6,561 | 5,382,070 | ||||
1.875% | 02/15/41 | 49,827 | 44,338,245 | ||||
1.875% | 02/15/51 | 8,630 | 7,535,069 | ||||
2.000% | 02/15/50 | 3,959 | 3,561,863 | ||||
2.250% | 05/15/41 | 11,754 | 11,091,001 | ||||
2.250% | 02/15/52 | 65,530 | 62,847,366 | ||||
2.500% | 02/15/46 | 2,715 | 2,658,155 | ||||
2.750% | 08/15/47(k) | 4,965 | 5,143,430 | ||||
2.875% | 08/15/45 | 50,375 | 52,500,195 | ||||
2.875% | 11/15/46(k) | 11,160 | 11,742,412 | ||||
3.000% | 05/15/47 | 9,890 | 10,664,202 | ||||
4.375% | 11/15/39 | 3,575 | 4,534,105 | ||||
U.S. Treasury Inflation Indexed Bonds, TIPS | |||||||
0.125% | 07/15/24 | 17,770 | 18,608,268 | ||||
0.125% | 10/15/24 | 13,359 | 13,948,828 | ||||
0.125% | 10/15/25 | 1,638 | 1,713,551 | ||||
0.125% | 04/15/26 | 8,201 | 8,551,971 | ||||
0.125% | 07/15/26 | 22,295 | 23,367,580 | ||||
0.125% | 10/15/26 | 26,200 | 27,462,679 | ||||
0.125% | 01/15/32 | 11,573 | 12,303,248 | ||||
0.125% | 02/15/52 | 25 | 25,570 | ||||
0.250% | 01/15/25 | 18,881 | 19,768,137 | ||||
0.375% | 07/15/23 | 30,842 | 32,324,494 | ||||
0.375% | 07/15/25 | 9,354 | 9,877,093 | ||||
0.375% | 01/15/27 | 8,002 | 8,455,122 | ||||
0.500% | 04/15/24 | 4,506 | 4,725,847 | ||||
0.625% | 04/15/23 | 13,650 | 14,212,223 | ||||
0.625% | 01/15/24 | 6,070 | 6,373,324 | ||||
0.625% | 01/15/26 | 22,028 | 23,428,313 | ||||
0.750% | 02/15/42 | 8 | 8,799 | ||||
U.S. Treasury Notes | |||||||
0.125% | 06/30/22 | 8,934 | 8,924,228 | ||||
0.125% | 07/31/22 | 7,737 | 7,719,773 | ||||
0.125% | 12/31/22 | 12,010 | 11,893,184 | ||||
0.125% | 03/31/23 | 35,785 | 35,225,859 | ||||
0.125% | 04/30/23 | 4,188 | 4,113,401 | ||||
0.125% | 05/31/23 | 6,619 | 6,483,259 | ||||
0.125% | 06/30/23 | 3,985 | 3,894,715 | ||||
0.125% | 07/31/23 | 4,578 | 4,462,477 | ||||
0.125% | 01/15/24 | 8,691 | 8,363,051 | ||||
0.125% | 02/15/24 | 5,527 | 5,307,647 | ||||
0.250% | 11/15/23 | 8,955 | 8,676,905 | ||||
0.250% | 03/15/24 | 6,356 | 6,105,732 | ||||
0.250% | 06/15/24 | 4,570 | 4,358,280 | ||||
0.250% | 07/31/25 | 10,656 | 9,878,445 | ||||
0.250% | 09/30/25 | 6,968 | 6,436,146 | ||||
0.250% | 10/31/25 | 5,919 | 5,456,578 | ||||
0.375% | 04/15/24 | 10,107 | 9,709,037 | ||||
0.375% | 04/30/25 | 29,700 | 27,813,586 | ||||
0.375% | 11/30/25 | 5,130 | 4,742,445 | ||||
0.375% | 01/31/26 | 4,577 | 4,217,276 | ||||
0.500% | 02/28/26 | 27,915 | 25,808,290 |
A50
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Treasury Obligations(continued) | |||||||
0.500% | 05/31/27 | 4,314 | $3,903,496 | ||||
0.500% | 10/31/27 | 10,584 | 9,501,621 | ||||
0.625% | 07/31/26 | 8,430 | 7,779,586 | ||||
0.625% | 08/15/30 | 6,600 | 5,733,750 | ||||
0.750% | 04/30/26 | 13,200 | 12,295,594 | ||||
0.750% | 05/31/26 | 8,957 | 8,330,710 | ||||
0.750% | 01/31/28 | 4,847 | 4,396,002 | ||||
0.875% | 06/30/26 | 7,393 | 6,904,947 | ||||
0.875% | 09/30/26 | 11,500 | 10,705,781 | ||||
1.125% | 02/28/25 | 26,761 | 25,726,102 | ||||
1.125% | 02/28/27 | 4,564 | 4,282,316 | ||||
1.125% | 02/29/28 | 9,151 | 8,485,408 | ||||
1.250% | 03/31/28 | 4,610 | 4,299,545 | ||||
1.250% | 04/30/28 | 6,928 | 6,454,406 | ||||
1.250% | 05/31/28 | 6,064 | 5,645,679 | ||||
1.375% | 02/15/23 | 11,754 | 11,730,584 | ||||
1.375% | 11/15/31 | 93,920 | 86,186,275 | ||||
1.500% | 02/15/30 | 12,936 | 12,127,500 | ||||
1.625% | 02/15/26 | 30,400 | 29,381,125 | ||||
1.750% | 06/30/22 | 8,801 | 8,827,816 | ||||
1.875% | 02/28/29 | 31,860 | 30,759,834 | ||||
2.125% | 03/31/24 | 10,000 | 9,958,203 | ||||
2.125% | 05/15/25 | 12,658 | 12,503,533 | ||||
2.250% | 12/31/24 | 5,000 | 4,966,406 | ||||
2.750% | 02/15/28 | 8,494 | 8,624,626 | ||||
Total U.S. Treasury Obligations (cost $1,092,720,921) | 1,035,378,048 | ||||||
Total Long-Term Investments (cost $13,534,625,031) | 15,229,825,865 |
Shares | |||||
Short-Term Investments — 25.6% | |||||
Affiliated Mutual Funds — 24.6% | |||||
PGIM Core Ultra Short Bond Fund(wa) | 3,096,887,077 | 3,096,887,077 | |||
PGIM Institutional Money Market Fund (cost $1,324,126,138; includes $1,323,867,237 of cash collateral for securities on loan)(b)(wa) | 1,325,288,305 | 1,324,095,546 | |||
Total Affiliated Mutual Funds (cost $4,421,013,215) | 4,420,982,623 |
Interest Rate | Maturity Date | Principal Amount (000)# | |||||
Commercial Paper(n) — 0.0% | |||||||
Canadian Natural Resources Ltd. | |||||||
1.161% | 04/25/22 | 590 | 589,587 | ||||
Harley Davidson Financial Services, Inc. | |||||||
1.081% | 04/22/22 | 590 | 589,653 | ||||
Total Commercial Paper (cost $1,179,172) | 1,179,240 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Treasury Obligation(h)(k)(n) — 1.0% | |||||||
U.S. Treasury Bills | |||||||
0.187% | 06/23/22 | 182,244 | $182,050,878 | ||||
(cost $182,165,332) | |||||||
Total Short-Term Investments (cost $4,604,357,719) | 4,604,212,741 | ||||||
TOTAL INVESTMENTS—110.4% (cost $18,138,982,750) | 19,834,038,606 | ||||||
Liabilities in excess of other assets(z) — (10.4)% | (1,869,164,014) | ||||||
Net Assets — 100.0% | $17,964,874,592 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: | |
AUD | Australian Dollar |
CAD | Canadian Dollar |
CHF | Swiss Franc |
CLP | Chilean Peso |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
MXN | Mexican Peso |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
144A | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. |
ABS | Asset-Backed Security |
ADR | American Depositary Receipt |
ASX | Australian Securities Exchange |
CDI | Chess Depository Interest |
CDX | Credit Derivative Index |
CLO | Collateralized Loan Obligation |
CMT | Constant Maturity Treasury |
CVT | Convertible Security |
EAFE | Europe, Australasia, Far East |
EMTN | Euro Medium Term Note |
FHLMC | Federal Home Loan Mortgage Corporation |
FTSE | Financial Times Stock Exchange |
GDR | Global Depositary Receipt |
GMTN | Global Medium Term Note |
IO | Interest Only (Principal amount represents notional) |
LIBOR | London Interbank Offered Rate |
LP | Limited Partnership |
MSCI | Morgan Stanley Capital International |
MTN | Medium Term Note |
NYSE | New York Stock Exchange |
OTC | Over-the-counter |
PIK | Payment-in-Kind |
PJSC | Public Joint-Stock Company |
Q | Quarterly payment frequency for swaps |
REITs | Real Estate Investment Trust |
REMICS | Real Estate Mortgage Investment Conduit Security |
S&P | Standard & Poor’s |
A51
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
SDR | Sweden Depositary Receipt |
SOFR | Secured Overnight Financing Rate |
SPI | Share Price Index |
STOXX | Stock Index of the Eurozone |
STRIPs | Separate Trading of Registered Interest and Principal of Securities |
TBA | To Be Announced |
TIPS | Treasury Inflation-Protected Securities |
TOPIX | Tokyo Stock Price Index |
UTS | Unit Trust Security |
XASX | Australian Stock Exchange |
XLON | London Stock Exchange |
XTSE | Toronto Stock Exchange |
* | Non-income producing security. |
# | Principal or notional amount is shown in U.S. dollars unless otherwise stated. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $192,889 and 0.0% of net assets. |
(a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $1,281,341,803; cash collateral of $1,323,867,237 (included in liabilities) was received with which the Portfolio purchased highly liquid short-term investments. In the event of significant appreciation in value of securities on loan on the last business day of the reporting period, the Portfolio may reflect a collateral value that is less than the market value of the loaned securities and such shortfall is remedied the following business day. |
(b) | Represents security, or portion thereof, purchased with cash collateral received for securities on loan and includes dividend reinvestment. |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at March 31, 2022. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2022. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
(ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(h) | Represents security, or a portion thereof, segregated as collateral for OTC derivatives. |
(k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
(n) | Rate shown reflects yield to maturity at purchased date. |
(oo) | Perpetual security. Maturity date represents next call date. |
(r) | Principal or notional amount is less than $500 par. |
(s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
(wa) | PGIM Investments LLC, the co-manager of the Portfolio, also serves as manager of the PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund, if applicable. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
Futures contracts outstanding at March 31, 2022: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
630 | 2 Year U.S. Treasury Notes | Jun. 2022 | $133,510,782 | $(1,856,428) | ||||
4,597 | 5 Year U.S. Treasury Notes | Jun. 2022 | 527,218,438 | (15,502,105) | ||||
1,460 | 10 Year U.S. Treasury Notes | Jun. 2022 | 179,397,500 | (4,715,954) | ||||
3,555 | 20 Year U.S. Treasury Bonds | Jun. 2022 | 533,472,188 | (14,411,567) | ||||
1,672 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2022 | 296,153,000 | (11,607,998) | ||||
128 | ASX SPI 200 Index | Jun. 2022 | 17,908,914 | 991,156 | ||||
1,016 | Euro STOXX 50 Index | Jun. 2022 | 42,968,608 | 1,685,676 | ||||
239 | FTSE 100 Index | Jun. 2022 | 23,503,222 | 1,073,737 | ||||
1,435 | Mini MSCI EAFE Index | Jun. 2022 | 153,860,700 | 8,806,531 | ||||
1,031 | Russell 2000 E-Mini Index | Jun. 2022 | 106,522,920 | 4,255,252 | ||||
2,959 | S&P 500 E-Mini Index | Jun. 2022 | 670,324,463 | 46,546,541 | ||||
149 | TOPIX Index | Jun. 2022 | 23,823,599 | 2,202,566 | ||||
17,467,407 | ||||||||
Short Positions: | ||||||||
1,918 | 2 Year U.S. Treasury Notes | Jun. 2022 | 406,466,158 | 5,338,954 | ||||
3,159 | 10 Year U.S. Treasury Notes | Jun. 2022 | 388,162,125 | 8,193,805 | ||||
225 | 10 Year U.S. Ultra Treasury Notes | Jun. 2022 | 30,480,469 | 321,973 | ||||
13,854,732 | ||||||||
$31,322,139 |
A52
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Forward foreign currency exchange
contracts outstanding at March 31, 2022:
Purchase Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Australian Dollar, | |||||||||||||
Expiring 04/14/22 | Bank of America, N.A. | AUD | 406 | $295,503 | $303,858 | $8,355 | $— | ||||||
Expiring 04/14/22 | HSBC Bank USA, N.A. | AUD | 700 | 526,727 | 523,893 | — | (2,834) | ||||||
Expiring 04/14/22 | Morgan Stanley & Co. International PLC | AUD | 6,117 | 4,471,258 | 4,578,078 | 106,820 | — | ||||||
Expiring 04/22/22 | Citibank, N.A. | AUD | 815 | 585,628 | 610,022 | 24,394 | — | ||||||
British Pound, | |||||||||||||
Expiring 04/14/22 | Deutsche Bank AG | GBP | 188 | 247,654 | 246,940 | — | (714) | ||||||
Expiring 04/14/22 | Goldman Sachs International | GBP | 9,997 | 13,181,847 | 13,131,162 | — | (50,685) | ||||||
Expiring 04/14/22 | RBC Capital Markets | GBP | 400 | 525,719 | 525,406 | — | (313) | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/14/22 | Barclays Bank PLC | CAD | 279 | 224,316 | 223,161 | — | (1,155) | ||||||
Expiring 04/14/22 | UBS AG | CAD | 5,186 | 4,048,823 | 4,148,072 | 99,249 | — | ||||||
Expiring 04/22/22 | Canadian Imperial Bank of Commerce | CAD | 730 | 584,243 | 583,869 | — | (374) | ||||||
Expiring 04/22/22 | Goldman Sachs International | CAD | 740 | 582,949 | 591,867 | 8,918 | — | ||||||
Euro, | |||||||||||||
Expiring 04/14/22 | HSBC Bank USA, N.A. | EUR | 22,732 | 25,170,762 | 25,157,876 | — | (12,886) | ||||||
Expiring 04/14/22 | HSBC Bank USA, N.A. | EUR | 400 | 440,608 | 442,677 | 2,069 | — | ||||||
Expiring 04/14/22 | Morgan Stanley & Co. International PLC | EUR | 700 | 782,096 | 774,686 | — | (7,410) | ||||||
Expiring 04/14/22 | State Street Bank and Trust Co. | EUR | 530 | 586,806 | 586,547 | — | (259) | ||||||
Expiring 04/14/22 | State Street Bank and Trust Co. | EUR | 304 | 334,809 | 336,435 | 1,626 | — | ||||||
Expiring 04/14/22 | UBS AG | EUR | 518 | 568,782 | 573,268 | 4,486 | — | ||||||
Expiring 05/20/22 | BNP Paribas S.A. | EUR | 484 | 549,745 | 536,369 | — | (13,376) | ||||||
Expiring 05/20/22 | Citibank, N.A. | EUR | 164 | 180,152 | 181,343 | 1,191 | — | ||||||
Expiring 05/20/22 | RBC Capital Markets | EUR | 447 | 495,674 | 495,336 | — | (338) | ||||||
Expiring 05/20/22 | State Street Bank and Trust Co. | EUR | 483 | 527,467 | 535,261 | 7,794 | — | ||||||
Japanese Yen, | |||||||||||||
Expiring 04/14/22 | Barclays Bank PLC | JPY | 46,378 | 380,710 | 381,058 | 348 | — | ||||||
Expiring 04/14/22 | RBC Capital Markets | JPY | 2,394,376 | 20,629,293 | 19,672,999 | — | (956,294) | ||||||
Expiring 04/14/22 | State Street Bank and Trust Co. | JPY | 100,000 | 839,744 | 821,635 | — | (18,109) | ||||||
Expiring 04/14/22 | State Street Bank and Trust Co. | JPY | 99,500 | 815,328 | 817,526 | 2,198 | — | ||||||
New Zealand Dollar, | |||||||||||||
Expiring 04/22/22 | HSBC Bank USA, N.A. | NZD | 880 | 587,668 | 609,687 | 22,019 | — | ||||||
Expiring 04/22/22 | HSBC Bank USA, N.A. | NZD | 860 | 583,808 | 595,831 | 12,023 | — | ||||||
Singapore Dollar, | |||||||||||||
Expiring 04/14/22 | HSBC Bank USA, N.A. | SGD | 2,543 | 1,871,829 | 1,876,137 | 4,308 | — | ||||||
Expiring 04/14/22 | HSBC Bank USA, N.A. | SGD | 289 | 212,862 | 213,214 | 352 | — | ||||||
Swedish Krona, | |||||||||||||
Expiring 04/14/22 | HSBC Bank USA, N.A. | SEK | 2,353 | 249,038 | 250,317 | 1,279 | — | ||||||
Expiring 04/14/22 | Morgan Stanley & Co. International PLC | SEK | 49,378 | 5,066,766 | 5,252,933 | 186,167 | — | ||||||
Swiss Franc, | |||||||||||||
Expiring 04/14/22 | HSBC Bank USA, N.A. | CHF | 334 | 359,398 | 361,618 | 2,220 | — | ||||||
Expiring 04/14/22 | HSBC Bank USA, N.A. | CHF | 217 | 232,969 | 234,944 | 1,975 | — | ||||||
Expiring 04/14/22 | Morgan Stanley & Co. International PLC | CHF | 8,913 | 9,623,526 | 9,650,017 | 26,491 | — | ||||||
Expiring 04/14/22 | RBC Capital Markets | CHF | 205 | 219,161 | 221,951 | 2,790 | — | ||||||
$96,583,668 | $96,045,993 | 527,072 | (1,064,747) |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Australian Dollar, | |||||||||||||
Expiring 04/14/22 | State Street Bank and Trust Co. | AUD | 300 | $222,337 | $224,525 | $— | $(2,188) | ||||||
Expiring 04/22/22 | UBS AG | AUD | 815 | 575,805 | 610,022 | — | (34,217) | ||||||
British Pound, | |||||||||||||
Expiring 04/14/22 | Morgan Stanley & Co. International PLC | GBP | 167 | 220,265 | 219,357 | 908 | — | ||||||
Expiring 04/22/22 | HSBC Bank USA, N.A. | GBP | 827 | 1,133,395 | 1,086,229 | 47,166 | — |
A53
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Forward foreign currency exchange
contracts outstanding at March 31, 2022 (continued):
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Canadian Dollar, | |||||||||||||
Expiring 04/22/22 | Goldman Sachs International | CAD | 730 | $577,326 | $583,869 | $— | $(6,543) | ||||||
Expiring 04/22/22 | Goldman Sachs International | CAD | 445 | 348,429 | 355,920 | — | (7,491) | ||||||
Expiring 04/22/22 | Goldman Sachs International | CAD | 295 | 231,029 | 235,946 | — | (4,917) | ||||||
Expiring 04/22/22 | HSBC Bank USA, N.A. | CAD | 456 | 358,858 | 364,975 | — | (6,117) | ||||||
Expiring 04/22/22 | RBC Capital Markets | CAD | 659 | 519,205 | 527,423 | — | (8,218) | ||||||
Expiring 04/22/22 | State Street Bank and Trust Co. | CAD | 1,930 | 1,540,912 | 1,543,654 | — | (2,742) | ||||||
Chilean Peso, | |||||||||||||
Expiring 06/10/22 | BNP Paribas S.A. | CLP | 327,329 | 399,338 | 410,967 | — | (11,629) | ||||||
Expiring 06/10/22 | Morgan Stanley & Co. International PLC | CLP | 327,329 | 401,996 | 410,966 | — | (8,970) | ||||||
Euro, | |||||||||||||
Expiring 04/14/22 | Morgan Stanley & Co. International PLC | EUR | 265 | 291,972 | 293,274 | — | (1,302) | ||||||
Expiring 05/20/22 | Citibank, N.A. | EUR | 656 | 733,316 | 727,066 | 6,250 | — | ||||||
Expiring 05/20/22 | Citibank, N.A. | EUR | 218 | 243,187 | 241,114 | 2,073 | — | ||||||
Expiring 05/20/22 | Goldman Sachs International | EUR | 142 | 161,462 | 157,342 | 4,120 | — | ||||||
Expiring 05/20/22 | HSBC Bank USA, N.A. | EUR | 568 | 633,610 | 628,991 | 4,619 | — | ||||||
Expiring 05/20/22 | HSBC Bank USA, N.A. | EUR | 276 | 302,660 | 305,724 | — | (3,064) | ||||||
Expiring 05/20/22 | HSBC Bank USA, N.A. | EUR | 189 | 207,657 | 209,295 | — | (1,638) | ||||||
Expiring 05/20/22 | HSBC Bank USA, N.A. | EUR | 121 | 132,816 | 133,772 | — | (956) | ||||||
Expiring 05/20/22 | Morgan Stanley & Co. International PLC | EUR | 219 | 241,916 | 242,735 | — | (819) | ||||||
Expiring 05/20/22 | Morgan Stanley & Co. International PLC | EUR | 215 | 237,693 | 238,499 | — | (806) | ||||||
Expiring 05/20/22 | Morgan Stanley & Co. International PLC | EUR | 100 | 113,998 | 111,261 | 2,737 | — | ||||||
Expiring 05/20/22 | State Street Bank and Trust Co. | EUR | 2,221 | 2,530,698 | 2,461,835 | 68,863 | — | ||||||
Expiring 05/20/22 | State Street Bank and Trust Co. | EUR | 1,983 | 2,260,048 | 2,198,067 | 61,981 | — | ||||||
Expiring 05/20/22 | State Street Bank and Trust Co. | EUR | 441 | 491,335 | 488,917 | 2,418 | — | ||||||
Expiring 05/20/22 | State Street Bank and Trust Co. | EUR | 415 | 474,177 | 460,058 | 14,119 | — | ||||||
Expiring 05/20/22 | State Street Bank and Trust Co. | EUR | 384 | 437,077 | 425,184 | 11,893 | — | ||||||
Expiring 05/20/22 | State Street Bank and Trust Co. | EUR | 343 | 390,333 | 379,628 | 10,705 | — | ||||||
Expiring 05/20/22 | State Street Bank and Trust Co. | EUR | 316 | 352,825 | 349,961 | 2,864 | — | ||||||
Expiring 05/20/22 | UBS AG | EUR | 3,332 | 3,795,824 | 3,692,753 | 103,071 | — | ||||||
Expiring 05/20/22 | UBS AG | EUR | 2,380 | 2,710,620 | 2,637,681 | 72,939 | — | ||||||
Expiring 05/20/22 | UBS AG | EUR | 576 | 655,576 | 637,774 | 17,802 | — | ||||||
Expiring 05/20/22 | UBS AG | EUR | 411 | 468,151 | 455,554 | 12,597 | — | ||||||
Expiring 05/20/22 | UBS AG | EUR | 218 | 240,622 | 241,614 | — | (992) | ||||||
Mexican Peso, | |||||||||||||
Expiring 04/13/22 | Citibank, N.A. | MXN | 3,639 | 175,541 | 182,529 | — | (6,988) | ||||||
New Zealand Dollar, | |||||||||||||
Expiring 04/22/22 | Bank of America, N.A. | NZD | 355 | 232,352 | 245,953 | — | (13,601) | ||||||
Expiring 04/22/22 | HSBC Bank USA, N.A. | NZD | 860 | 573,465 | 595,831 | — | (22,366) | ||||||
Expiring 04/22/22 | HSBC Bank USA, N.A. | NZD | 525 | 345,933 | 363,734 | — | (17,801) | ||||||
$25,963,759 | $25,679,999 | 447,125 | (163,365) | ||||||||||
$974,197 | $(1,228,112) |
Credit default swap agreements
outstanding at March 31, 2022:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at March 31, 2022(4) | Value at Trade Date | Value at March 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2): | |||||||||||||||
American Airlines | 06/20/23 | 5.000%(Q) | 419 | 7.821% | $(10,838) | $(12,954) | $(2,116) | ||||||||
Community Healthcare Systems, Inc. | 06/20/26 | 5.000%(Q) | 1,717 | 6.722% | (61,631) | (100,479) | (38,848) |
A54
AST T. ROWE PRICE ASSET
ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2022 (unaudited) |
Credit default swap agreements
outstanding at March 31, 2022 (continued):
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at March 31, 2022(4) | Value at Trade Date | Value at March 31, 2022 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont’d.): | |||||||||||||||
Community Healthcare Systems, Inc. | 12/20/26 | 5.000%(Q) | 899 | 6.996% | $(34,146) | $(66,504) | $(32,358) | ||||||||
$(106,615) | $(179,937) | $(73,322) |
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at March 31, 2022(4) | Value at Trade Date | Value at March 31, 2022 | Unrealized Appreciation (Depreciation) | |||||||||
Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2): | ||||||||||||||||
CDX.EM.37.V1 | 06/22/27 | 1.000%(Q) | 322,200 | 2.275% | $(20,889,181) | $(18,857,660) | $2,031,521 | |||||||||
CDX.NA.HY.38.V1 | 06/20/27 | 5.000%(Q) | 244,100 | 3.735% | 13,760,524 | 13,831,091 | 70,567 | |||||||||
CDX.NA.IG.38.V1 | 06/20/27 | 1.000%(Q) | 1,218,400 | 0.669% | 17,094,859 | 19,933,042 | 2,838,183 | |||||||||
$9,966,202 | $14,906,473 | $4,940,271 |
The Portfolio entered into credit
default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference
entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as
the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) | If the Portfolio is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | If the Portfolio is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(3) | Notional amount represents the maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Portfolio is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
Other information
regarding the Portfolio is available in the Portfolio’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
A55