AST LARGE-CAP CORE PORTFOLIO
| SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
| Shares | Value | |||||
| Long-Term Investments — 99.1% | ||||||
| Common Stocks — 96.2% | ||||||
| Aerospace & Defense — 2.3% | ||||||
Boeing Co. (The)* | 1,200 | $231,588 | ||||
Curtiss-Wright Corp. | 3,100 | 793,414 | ||||
Howmet Aerospace, Inc. | 72,262 | 4,944,889 | ||||
L3Harris Technologies, Inc. | 800 | 170,480 | ||||
Northrop Grumman Corp. | 7,961 | 3,810,612 | ||||
Textron, Inc. | 2,300 | 220,639 | ||||
| 10,171,622 | ||||||
| Air Freight & Logistics — 0.3% | ||||||
FedEx Corp. | 4,436 | 1,285,287 | ||||
| Automobile Components — 0.2% | ||||||
Aptiv PLC* | 11,500 | 915,975 | ||||
| Automobiles — 1.0% | ||||||
Ford Motor Co. | 105,703 | 1,403,736 | ||||
General Motors Co. | 22,900 | 1,038,515 | ||||
Tesla, Inc.* | 10,285 | 1,808,000 | ||||
| 4,250,251 | ||||||
| Banks — 3.1% | ||||||
Bank of America Corp. | 60,835 | 2,306,863 | ||||
BankUnited, Inc. | 8,700 | 243,600 | ||||
Citizens Financial Group, Inc. | 8,200 | 297,578 | ||||
Huntington Bancshares, Inc. | 7,200 | 100,440 | ||||
JPMorgan Chase & Co. | 20,768 | 4,159,830 | ||||
Truist Financial Corp. | 9,400 | 366,412 | ||||
U.S. Bancorp | 48,721 | 2,177,829 | ||||
Wells Fargo & Co. | 71,484 | 4,143,213 | ||||
| 13,795,765 | ||||||
| Beverages — 1.4% | ||||||
Coca-Cola Co. (The) | 36,236 | 2,216,919 | ||||
Diageo PLC (United Kingdom) | 23,015 | 851,606 | ||||
Keurig Dr. Pepper, Inc. | 48,000 | 1,472,160 | ||||
PepsiCo, Inc. | 4,072 | 712,641 | ||||
Pernod Ricard SA (France) | 5,048 | 817,191 | ||||
| 6,070,517 | ||||||
| Biotechnology — 2.6% | ||||||
AbbVie, Inc. | 22,666 | 4,127,479 | ||||
ACADIA Pharmaceuticals, Inc.* | 16,400 | 303,236 | ||||
Biogen, Inc.* | 2,825 | 609,155 | ||||
Regeneron Pharmaceuticals, Inc.* | 3,050 | 2,935,594 | ||||
United Therapeutics Corp.* | 700 | 160,804 | ||||
Vertex Pharmaceuticals, Inc.* | 7,551 | 3,156,393 | ||||
| 11,292,661 | ||||||
| Broadline Retail — 4.4% | ||||||
Amazon.com, Inc.* | 108,061 | 19,492,043 | ||||
| Building Products — 1.4% | ||||||
Allegion PLC | 3,723 | 501,525 | ||||
AZEK Co., Inc. (The)* | 10,200 | 512,244 | ||||
Carrier Global Corp. | 20,019 | 1,163,704 | ||||
Johnson Controls International PLC | 16,727 | 1,092,608 | ||||
Masco Corp. | 700 | 55,216 | ||||
Owens Corning | 6,000 | 1,000,800 | ||||
| Shares | Value | |||||
| Common Stocks (continued) | ||||||
| Building Products (cont’d.) | ||||||
Trane Technologies PLC | 5,859 | $1,758,872 | ||||
| 6,084,969 | ||||||
| Capital Markets — 3.1% | ||||||
Ameriprise Financial, Inc. | 5,313 | 2,329,432 | ||||
Bank of New York Mellon Corp. (The) | 25,627 | 1,476,628 | ||||
BGC Group, Inc. (Class A Stock) | 48,600 | 377,622 | ||||
BlackRock, Inc. | 1,190 | 992,103 | ||||
Charles Schwab Corp. (The) | 9,029 | 653,158 | ||||
CME Group, Inc. | 3,176 | 683,761 | ||||
Goldman Sachs Group, Inc. (The) | 4,960 | 2,071,742 | ||||
Intercontinental Exchange, Inc. | 3,600 | 494,748 | ||||
Janus Henderson Group PLC | 2,700 | 88,803 | ||||
Morgan Stanley | 23,961 | 2,256,168 | ||||
MSCI, Inc. | 1,000 | 560,450 | ||||
Northern Trust Corp. | 800 | 71,136 | ||||
S&P Global, Inc. | 4,200 | 1,786,890 | ||||
T. Rowe Price Group, Inc. | 800 | 97,536 | ||||
| 13,940,177 | ||||||
| Chemicals — 1.5% | ||||||
DuPont de Nemours, Inc.(a) | 14,401 | 1,104,125 | ||||
Ecolab, Inc. | 1,000 | 230,900 | ||||
Linde PLC | 2,734 | 1,269,451 | ||||
PPG Industries, Inc. | 20,446 | 2,962,625 | ||||
Sherwin-Williams Co. (The) | 2,700 | 937,791 | ||||
| 6,504,892 | ||||||
| Commercial Services & Supplies — 0.2% | ||||||
ABM Industries, Inc. | 2,000 | 89,240 | ||||
HNI Corp. | 1,300 | 58,669 | ||||
Waste Management, Inc. | 3,891 | 829,367 | ||||
| 977,276 | ||||||
| Communications Equipment — 0.2% | ||||||
Arista Networks, Inc.* | 1,400 | 405,972 | ||||
Cisco Systems, Inc. | 11,176 | 557,794 | ||||
| 963,766 | ||||||
| Construction Materials — 1.1% | ||||||
Summit Materials, Inc. (Class A Stock)* | 25,599 | 1,140,947 | ||||
Vulcan Materials Co. | 13,338 | 3,640,207 | ||||
| 4,781,154 | ||||||
| Consumer Finance — 0.6% | ||||||
American Express Co. | 12,072 | 2,748,674 | ||||
LendingClub Corp.* | 6,900 | 60,651 | ||||
| 2,809,325 | ||||||
| Consumer Staples Distribution & Retail — 1.1% | ||||||
Costco Wholesale Corp. | 3,036 | 2,224,265 | ||||
Target Corp. | 12,979 | 2,300,008 | ||||
United Natural Foods, Inc.* | 23,300 | 267,717 | ||||
| 4,791,990 | ||||||
| Distributors — 0.0% | ||||||
Genuine Parts Co. | 400 | 61,972 | ||||
A1
AST LARGE-CAP CORE PORTFOLIO (continued)
| SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
| Shares | Value | |||||
| Common Stocks (continued) | ||||||
| Diversified Consumer Services — 0.0% | ||||||
Frontdoor, Inc.* | 4,900 | $159,642 | ||||
| Diversified Telecommunication Services — 0.6% | ||||||
AT&T, Inc. | 79,777 | 1,404,075 | ||||
Verizon Communications, Inc. | 25,716 | 1,079,044 | ||||
| 2,483,119 | ||||||
| Electric Utilities — 1.3% | ||||||
NextEra Energy, Inc. | 23,327 | 1,490,828 | ||||
PG&E Corp. | 128,125 | 2,147,375 | ||||
PNM Resources, Inc. | 5,000 | 188,200 | ||||
Southern Co. (The) | 12,216 | 876,376 | ||||
Xcel Energy, Inc. | 17,553 | 943,474 | ||||
| 5,646,253 | ||||||
| Electrical Equipment — 2.1% | ||||||
AMETEK, Inc. | 6,213 | 1,136,358 | ||||
Eaton Corp. PLC | 18,348 | 5,737,052 | ||||
Emerson Electric Co. | 4,500 | 510,390 | ||||
EnerSys | 3,800 | 358,948 | ||||
Vertiv Holdings Co. (Class A Stock) | 21,500 | 1,755,905 | ||||
| 9,498,653 | ||||||
| Electronic Equipment, Instruments & Components — 0.4% | ||||||
TE Connectivity Ltd. | 11,434 | 1,660,674 | ||||
| Energy Equipment & Services — 0.6% | ||||||
Baker Hughes Co. | 77,505 | 2,596,417 | ||||
Oceaneering International, Inc.* | 2,800 | 65,520 | ||||
| 2,661,937 | ||||||
| Entertainment — 0.5% | ||||||
Electronic Arts, Inc. | 10,850 | 1,439,470 | ||||
Netflix, Inc.* | 400 | 242,932 | ||||
Walt Disney Co. (The) | 3,100 | 379,316 | ||||
Warner Bros Discovery, Inc.* | 25,900 | 226,107 | ||||
| 2,287,825 | ||||||
| Financial Services — 3.7% | ||||||
Berkshire Hathaway, Inc. (Class B Stock)* | 2,826 | 1,188,389 | ||||
Corpay, Inc.* | 4,114 | 1,269,334 | ||||
Fidelity National Information Services, Inc. | 2,100 | 155,778 | ||||
Fiserv, Inc.*(a) | 10,956 | 1,750,988 | ||||
Mastercard, Inc. (Class A Stock) | 14,233 | 6,854,186 | ||||
Visa, Inc. (Class A Stock)(a) | 18,150 | 5,065,302 | ||||
| 16,283,977 | ||||||
| Food Products — 0.9% | ||||||
Archer-Daniels-Midland Co. | 18,877 | 1,185,664 | ||||
Hain Celestial Group, Inc. (The)* | 5,600 | 44,016 | ||||
Ingredion, Inc. | 1,500 | 175,275 | ||||
Mondelez International, Inc. (Class A Stock) | 36,578 | 2,560,460 | ||||
| 3,965,415 | ||||||
| Shares | Value | |||||
| Common Stocks (continued) | ||||||
| Ground Transportation — 1.3% | ||||||
Canadian Pacific Kansas City Ltd. (Canada)(a) | 7,404 | $652,811 | ||||
CSX Corp. | 78,484 | 2,909,402 | ||||
J.B. Hunt Transport Services, Inc.(a) | 2,570 | 512,072 | ||||
Uber Technologies, Inc.* | 22,300 | 1,716,877 | ||||
| 5,791,162 | ||||||
| Health Care Equipment & Supplies — 2.3% | ||||||
Abbott Laboratories | 4,139 | 470,439 | ||||
Baxter International, Inc. | 2,858 | 122,151 | ||||
Becton, Dickinson & Co. | 11,862 | 2,935,252 | ||||
Boston Scientific Corp.* | 8,500 | 582,165 | ||||
Hologic, Inc.* | 2,400 | 187,104 | ||||
Intuitive Surgical, Inc.* | 1,000 | 399,090 | ||||
Medtronic PLC | 35,463 | 3,090,600 | ||||
Stryker Corp. | 6,120 | 2,190,164 | ||||
| 9,976,965 | ||||||
| Health Care Providers & Services — 2.3% | ||||||
Cardinal Health, Inc. | 14,000 | 1,566,600 | ||||
Centene Corp.* | 18,700 | 1,467,576 | ||||
Cigna Group (The) | 5,387 | 1,956,505 | ||||
Elevance Health, Inc. | 1,912 | 991,448 | ||||
Laboratory Corp. of America Holdings | 3,700 | 808,302 | ||||
UnitedHealth Group, Inc. | 6,961 | 3,443,607 | ||||
| 10,234,038 | ||||||
| Hotels, Restaurants & Leisure — 1.4% | ||||||
Chipotle Mexican Grill, Inc.* | 460 | 1,337,114 | ||||
Dave & Buster’s Entertainment, Inc.*(a) | 2,900 | 181,540 | ||||
Hilton Worldwide Holdings, Inc. | 4,138 | 882,677 | ||||
Marriott International, Inc. (Class A Stock) | 5,142 | 1,297,378 | ||||
McDonald’s Corp. | 8,748 | 2,466,499 | ||||
| 6,165,208 | ||||||
| Household Products — 1.1% | ||||||
Colgate-Palmolive Co. | 33,243 | 2,993,532 | ||||
Energizer Holdings, Inc. | 6,200 | 182,528 | ||||
Procter & Gamble Co. (The) | 10,623 | 1,723,582 | ||||
| 4,899,642 | ||||||
| Independent Power & Renewable Electricity Producers — 0.1% | ||||||
AES Corp. (The) | 19,311 | 346,246 | ||||
| Industrial Conglomerates — 1.3% | ||||||
3M Co. | 15,650 | 1,659,996 | ||||
General Electric Co. | 10,900 | 1,913,277 | ||||
Honeywell International, Inc. | 10,874 | 2,231,888 | ||||
| 5,805,161 | ||||||
| Industrial REITs — 0.6% | ||||||
LXP Industrial Trust | 20,700 | 186,714 | ||||
Prologis, Inc. | 19,740 | 2,570,543 | ||||
| 2,757,257 | ||||||
| Insurance — 2.4% | ||||||
Allstate Corp. (The) | 9,300 | 1,608,993 | ||||
A2
AST LARGE-CAP CORE PORTFOLIO (continued)
| SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
| Shares | Value | |||||
| Common Stocks (continued) | ||||||
| Insurance (cont’d.) | ||||||
American International Group, Inc. | 4,433 | $346,527 | ||||
Aon PLC (Class A Stock) | 3,068 | 1,023,853 | ||||
Assurant, Inc. | 6,100 | 1,148,264 | ||||
Chubb Ltd. | 5,546 | 1,437,135 | ||||
Cincinnati Financial Corp. | 1,300 | 161,421 | ||||
Loews Corp. | 1,200 | 93,948 | ||||
MetLife, Inc. | 8,200 | 607,702 | ||||
Oscar Health, Inc. (Class A Stock)* | 17,400 | 258,738 | ||||
Progressive Corp. (The) | 5,251 | 1,086,012 | ||||
Travelers Cos., Inc. (The) | 8,099 | 1,863,904 | ||||
Willis Towers Watson PLC | 3,716 | 1,021,900 | ||||
| 10,658,397 | ||||||
| Interactive Media & Services — 6.4% | ||||||
Alphabet, Inc. (Class A Stock)* | 94,665 | 14,287,789 | ||||
Alphabet, Inc. (Class C Stock)* | 25,408 | 3,868,622 | ||||
Meta Platforms, Inc. (Class A Stock) | 20,866 | 10,132,112 | ||||
| 28,288,523 | ||||||
| IT Services — 0.9% | ||||||
Accenture PLC (Class A Stock) | 5,744 | 1,990,928 | ||||
Akamai Technologies, Inc.*(a) | 7,200 | 783,072 | ||||
Cognizant Technology Solutions Corp. (Class A Stock) | 5,600 | 410,424 | ||||
International Business Machines Corp. | 4,400 | 840,224 | ||||
| 4,024,648 | ||||||
| Life Sciences Tools & Services — 1.5% | ||||||
Agilent Technologies, Inc. | 9,461 | 1,376,670 | ||||
Danaher Corp. | 6,308 | 1,575,234 | ||||
ICON PLC* | 4,753 | 1,596,770 | ||||
Medpace Holdings, Inc.* | 2,100 | 848,715 | ||||
West Pharmaceutical Services, Inc. | 2,700 | 1,068,417 | ||||
| 6,465,806 | ||||||
| Machinery — 0.9% | ||||||
Allison Transmission Holdings, Inc. | 3,700 | 300,292 | ||||
Blue Bird Corp.* | 1,900 | 72,846 | ||||
Deere & Co. | 7,980 | 3,277,705 | ||||
Flowserve Corp. | 1,900 | 86,792 | ||||
Fortive Corp. | 2,181 | 187,610 | ||||
Tennant Co. | 1,100 | 133,771 | ||||
Terex Corp. | 1,100 | 70,840 | ||||
| 4,129,856 | ||||||
| Media — 0.4% | ||||||
Cable One, Inc. | 868 | 367,277 | ||||
Comcast Corp. (Class A Stock) | 29,750 | 1,289,662 | ||||
| 1,656,939 | ||||||
| Metals & Mining — 0.0% | ||||||
Freeport-McMoRan, Inc. | 4,300 | 202,186 | ||||
| Mortgage Real Estate Investment Trusts (REITs) — 0.0% | ||||||
MFA Financial, Inc. | 18,400 | 209,944 | ||||
| Multi-Utilities — 0.5% | ||||||
Avista Corp. | 15,300 | 535,806 | ||||
Black Hills Corp. | 4,100 | 223,860 | ||||
| Shares | Value | |||||
| Common Stocks (continued) | ||||||
| Multi-Utilities (cont’d.) | ||||||
CMS Energy Corp. | 12,300 | $742,182 | ||||
DTE Energy Co. | 3,300 | 370,062 | ||||
NiSource, Inc. | 13,700 | 378,942 | ||||
Sempra | 1,400 | 100,562 | ||||
| 2,351,414 | ||||||
| Oil, Gas & Consumable Fuels — 2.9% | ||||||
Cheniere Energy, Inc. | 5,100 | 822,528 | ||||
ConocoPhillips | 40,690 | 5,179,023 | ||||
Exxon Mobil Corp. | 48,166 | 5,598,816 | ||||
Marathon Petroleum Corp. | 1,900 | 382,850 | ||||
Peabody Energy Corp. | 2,100 | 50,946 | ||||
Phillips 66 | 5,700 | 931,038 | ||||
| 12,965,201 | ||||||
| Passenger Airlines — 0.0% | ||||||
SkyWest, Inc.* | 3,100 | 214,148 | ||||
| Personal Care Products — 0.3% | ||||||
BellRing Brands, Inc.* | 2,500 | 147,575 | ||||
Edgewell Personal Care Co. | 3,000 | 115,920 | ||||
Kenvue, Inc. | 54,453 | 1,168,561 | ||||
| 1,432,056 | ||||||
| Pharmaceuticals — 3.9% | ||||||
Bristol-Myers Squibb Co. | 51,316 | 2,782,867 | ||||
Elanco Animal Health, Inc.* | 22,400 | 364,672 | ||||
Eli Lilly & Co. | 6,693 | 5,206,886 | ||||
Johnson & Johnson | 17,563 | 2,778,291 | ||||
Merck & Co., Inc. | 29,876 | 3,942,138 | ||||
Pfizer, Inc. | 40,890 | 1,134,698 | ||||
Zoetis, Inc. | 5,000 | 846,050 | ||||
| 17,055,602 | ||||||
| Professional Services — 0.1% | ||||||
Dun & Bradstreet Holdings, Inc. | 35,318 | 354,593 | ||||
| Residential REITs — 0.3% | ||||||
Equity Residential | 18,600 | 1,173,846 | ||||
| Retail REITs — 0.0% | ||||||
Acadia Realty Trust(a) | 4,500 | 76,545 | ||||
| Semiconductors & Semiconductor Equipment — 10.4% | ||||||
Analog Devices, Inc. | 15,898 | 3,144,465 | ||||
Applied Materials, Inc. | 14,126 | 2,913,205 | ||||
ASML Holding NV (Netherlands) (XAMS) | 1,316 | 1,275,812 | ||||
ASML Holding NV (Netherlands) (XNGS) | 934 | 906,419 | ||||
Broadcom, Inc. | 380 | 503,656 | ||||
Intel Corp. | 40,000 | 1,766,800 | ||||
Lam Research Corp. | 2,591 | 2,517,338 | ||||
Micron Technology, Inc. | 14,600 | 1,721,194 | ||||
NVIDIA Corp. | 27,099 | 24,485,573 | ||||
NXP Semiconductors NV (China) | 13,608 | 3,371,654 | ||||
Photronics, Inc.* | 3,550 | 100,536 | ||||
QUALCOMM, Inc. | 12,900 | 2,183,970 | ||||
A3
AST LARGE-CAP CORE PORTFOLIO (continued)
| SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
| Shares | Value | |||||
| Common Stocks (continued) | ||||||
| Semiconductors & Semiconductor Equipment (cont’d.) | ||||||
Texas Instruments, Inc. | 5,534 | $964,078 | ||||
| 45,854,700 | ||||||
| Software — 11.2% | ||||||
Adobe, Inc.* | 2,922 | 1,474,441 | ||||
Check Point Software Technologies Ltd. (Israel)* | 8,601 | 1,410,650 | ||||
CommVault Systems, Inc.* | 1,500 | 152,145 | ||||
Crowdstrike Holdings, Inc. (Class A Stock)* | 800 | 256,472 | ||||
Intuit, Inc. | 2,841 | 1,846,650 | ||||
Microsoft Corp. | 87,619 | 36,863,066 | ||||
Oracle Corp. | 16,551 | 2,078,971 | ||||
Salesforce, Inc. | 11,284 | 3,398,515 | ||||
ServiceNow, Inc.* | 2,400 | 1,829,760 | ||||
Teradata Corp.* | 3,500 | 135,345 | ||||
Workday, Inc. (Class A Stock)* | 1,300 | 354,575 | ||||
| 49,800,590 | ||||||
| Specialized REITs — 0.6% | ||||||
American Tower Corp. | 9,055 | 1,789,177 | ||||
Iron Mountain, Inc. | 5,500 | 441,155 | ||||
Rayonier, Inc.(a) | 11,869 | 394,526 | ||||
Weyerhaeuser Co. | 1,775 | 63,740 | ||||
| 2,688,598 | ||||||
| Specialty Retail — 2.4% | ||||||
AutoZone, Inc.* | 578 | 1,821,653 | ||||
Duluth Holdings, Inc. (Class B Stock)*(a) | 36,403 | 178,375 | ||||
Home Depot, Inc. (The) | 6,378 | 2,446,601 | ||||
Lowe’s Cos., Inc. | 15,115 | 3,850,244 | ||||
TJX Cos., Inc. (The) | 12,145 | 1,231,746 | ||||
Tractor Supply Co.(a) | 770 | 201,524 | ||||
Ulta Beauty, Inc.* | 1,600 | 836,608 | ||||
| 10,566,751 | ||||||
| Technology Hardware, Storage & Peripherals — 5.4% | ||||||
Apple, Inc. | 115,763 | 19,851,039 | ||||
Hewlett Packard Enterprise Co. | 72,800 | 1,290,744 | ||||
HP, Inc. | 8,500 | 256,870 | ||||
NetApp, Inc. | 4,100 | 430,377 | ||||
Seagate Technology Holdings PLC | 11,226 | 1,044,579 | ||||
Super Micro Computer, Inc.*(a) | 650 | 656,520 | ||||
Western Digital Corp.* | 4,500 | 307,080 | ||||
| 23,837,209 | ||||||
| Textiles, Apparel & Luxury Goods — 0.6% | ||||||
Deckers Outdoor Corp.* | 1,170 | 1,101,274 | ||||
G-III Apparel Group Ltd.* | 19,000 | 551,190 | ||||
LVMH Moet Hennessy Louis Vuitton SE (France) | 1,242 | 1,117,548 | ||||
| 2,770,012 | ||||||
| Trading Companies & Distributors — 0.0% | ||||||
Beacon Roofing Supply, Inc.* | 600 | 58,812 | ||||
| Shares | Value | |||||
| Common Stocks (continued) | ||||||
| Water Utilities — 0.1% | ||||||
American Water Works Co., Inc. | 3,400 | $415,514 | ||||
| Wireless Telecommunication Services — 0.0% | ||||||
Telephone & Data Systems, Inc. | 8,900 | 142,578 | ||||
Total Common Stocks (cost $342,726,557) | 426,207,284 | |||||
| Unaffiliated Exchange-Traded Funds — 2.9% | ||||||
iShares Core S&P 500 ETF | 13,255 | 6,968,551 | ||||
SPDR S&P 500 ETF Trust | 10,917 | 5,710,355 | ||||
Total Unaffiliated Exchange-Traded Funds (cost $11,050,666) | 12,678,906 | |||||
Total Long-Term Investments (cost $353,777,223) | 438,886,190 | |||||
| Short-Term Investments — 2.9% | ||||||
| Affiliated Mutual Funds — 2.7% | ||||||
PGIM Core Government Money Market Fund (7-day effective yield 5.552%)(wb) | 2,513,157 | 2,513,157 | ||||
PGIM Institutional Money Market Fund (7-day effective yield 5.664%) (cost $9,365,407; includes $9,327,272 of cash collateral for securities on loan)(b)(wb) | 9,369,262 | 9,364,577 | ||||
Total Affiliated Mutual Funds (cost $11,878,564) | 11,877,734 | |||||
| Interest Rate | Maturity Date | Principal Amount (000)# | |||||
| U.S. Government Agency Obligation(n) — 0.1% | |||||||
| Federal Home Loan Bank | |||||||
| 5.153% | 04/01/24 | 645 | 644,615 | ||||
| (cost $645,000) | |||||||
| U.S. Treasury Obligation(k)(n) — 0.1% | |||||||
| U.S. Treasury Bills | |||||||
| 5.270% | 06/20/24 | 250 | 247,102 | ||||
| (cost $247,115) | |||||||
Total Short-Term Investments (cost $12,770,679) | 12,769,451 | ||||||
TOTAL INVESTMENTS—102.0% (cost $366,547,902) | 451,655,641 | ||||||
Liabilities in excess of other assets(z) — (2.0)% | (8,831,120) | ||||||
Net Assets — 100.0% | $442,824,521 | ||||||
| Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: | |
| ETF | Exchange-Traded Fund |
| REITs | Real Estate Investment Trust |
| S&P | Standard & Poor’s |
A4
AST LARGE-CAP CORE PORTFOLIO (continued)
| SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
| SPDR | Standard & Poor’s Depositary Receipts |
| XAMS | Amsterdam Stock Exchange |
| XNGS | NASDAQ Global Select Exchange |
| * | Non-income producing security. |
| # | Principal amount is shown in U.S. dollars unless otherwise stated. |
| (a) | All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $9,139,215; cash collateral of $9,327,272 (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. |
| (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. |
| (wb) | Represents an investment in a Fund affiliated with the Manager. |
| (z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
| Futures contracts outstanding at March 31, 2024: | ||||||||
| Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
| Long Position: | ||||||||
| 9 | S&P 500 E-Mini Index | Jun. 2024 | $2,388,825 | $52,681 | ||||
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).
A5