AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Long-Term Investments — 92.6% | ||||||
Affiliated Mutual Fund — 26.3% | ||||||
Fixed Income | ||||||
AST J.P. Morgan Fixed Income Central Portfolio* (cost $601,473,891)(wa) | 59,051,729 | $620,043,155 | ||||
Common Stocks — 60.2% | ||||||
Australia — 0.2% | ||||||
BHP Group Ltd. | 133,550 | 3,861,458 | ||||
Rio Tinto PLC | 19,650 | 1,242,369 | ||||
5,103,827 | ||||||
Austria — 0.0% | ||||||
ANDRITZ AG | 10,562 | 658,296 | ||||
Raiffeisen Bank International AG | 1,188 | 23,646 | ||||
681,942 | ||||||
Belgium — 0.2% | ||||||
KBC Group NV | 47,121 | 3,532,762 | ||||
Brazil — 0.2% | ||||||
Ambev SA, ADR | 103,690 | 257,151 | ||||
Atacadao SA | 18,461 | 49,618 | ||||
B3 SA - Brasil Bolsa Balcao | 149,925 | 358,715 | ||||
Banco do Brasil SA | 15,179 | 171,541 | ||||
BB Seguridade Participacoes SA | 3,174 | 20,625 | ||||
Centrais Eletricas Brasileiras SA | 12,783 | 106,206 | ||||
Itau Unibanco Holding SA, ADR | 124,001 | 859,327 | ||||
Localiza Rent a Car SA | 11,858 | 129,990 | ||||
Lojas Renner SA | 31,285 | 105,606 | ||||
MercadoLibre, Inc.* | 660 | 997,894 | ||||
NU Holdings Ltd. (Class A Stock)* | 44,249 | 527,891 | ||||
Raia Drogasil SA | 88,006 | 482,196 | ||||
Suzano SA | 15,209 | 194,017 | ||||
TIM SA, ADR | 7,346 | 130,391 | ||||
Transmissora Alianca de Energia Eletrica SA, UTS | 5,774 | 41,756 | ||||
Vale SA, ADR | 26,845 | 327,240 | ||||
WEG SA | 92,306 | 705,077 | ||||
5,465,241 | ||||||
Canada — 0.6% | ||||||
Alimentation Couche-Tard, Inc. | 62,324 | 3,557,099 | ||||
Canadian National Railway Co. | 37,962 | 4,998,916 | ||||
Fairfax Financial Holdings Ltd.(a) | 415 | 447,802 | ||||
Intact Financial Corp. | 20,875 | 3,391,041 | ||||
RB Global, Inc.(a) | 12,608 | 960,351 | ||||
13,355,209 | ||||||
Chile — 0.0% | ||||||
Banco Santander Chile, ADR | 7,074 | 140,277 | ||||
China — 1.5% | ||||||
Agricultural Bank of China Ltd. (Class H Stock) | 58,000 | 24,482 | ||||
Aier Eye Hospital Group Co. Ltd. (Class A Stock) | 11,900 | 21,088 | ||||
Alibaba Group Holding Ltd. | 173,652 | 1,570,306 | ||||
Amoy Diagnostics Co. Ltd. (Class A Stock) | 4,100 | 12,326 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
China (cont’d.) | ||||||
Angel Yeast Co. Ltd. (Class A Stock) | 11,100 | $44,060 | ||||
Anker Innovations Technology Co. Ltd. (Class A Stock) | 2,400 | 25,296 | ||||
ANTA Sports Products Ltd. | 8,200 | 87,435 | ||||
Baidu, Inc., ADR* | 1,845 | 194,242 | ||||
Bank of China Ltd. (Class H Stock) | 516,000 | 211,566 | ||||
BeiGene Ltd.* | 4,200 | 50,529 | ||||
BOC Aviation Ltd., 144A | 5,300 | 40,888 | ||||
BOE Technology Group Co. Ltd. (Class A Stock) | 126,000 | 69,952 | ||||
Budweiser Brewing Co. APAC Ltd., 144A | 198,800 | 293,217 | ||||
BYD Co. Ltd. (Class H Stock) | 5,000 | 128,025 | ||||
BYD Electronic International Co. Ltd. | 6,000 | 22,148 | ||||
Chacha Food Co. Ltd. (Class A Stock) | 5,300 | 25,789 | ||||
China Construction Bank Corp. (Class H Stock) | 803,000 | 484,589 | ||||
China International Capital Corp. Ltd. (Class H Stock), 144A | 29,600 | 35,142 | ||||
China Life Insurance Co. Ltd. (Class H Stock) | 60,000 | 72,155 | ||||
China Longyuan Power Group Corp. Ltd. (Class H Stock) | 114,000 | 79,973 | ||||
China Merchants Bank Co. Ltd. (Class A Stock) | 6,900 | 30,629 | ||||
China Merchants Bank Co. Ltd. (Class H Stock) | 52,000 | 206,103 | ||||
China Overseas Land & Investment Ltd. | 54,500 | 78,657 | ||||
China Pacific Insurance Group Co. Ltd. (Class H Stock) | 36,600 | 64,208 | ||||
China Petroleum & Chemical Corp. (Class H Stock) | 198,000 | 112,608 | ||||
China Resources Gas Group Ltd. | 13,800 | 44,037 | ||||
China Resources Land Ltd. | 27,000 | 85,656 | ||||
China Resources Mixc Lifestyle Services Ltd., 144A | 10,000 | 31,689 | ||||
China Shenhua Energy Co. Ltd. (Class H Stock) | 7,500 | 29,503 | ||||
China Vanke Co. Ltd. (Class H Stock) | 49,500 | 34,344 | ||||
Chongqing Brewery Co. Ltd. (Class A Stock) | 3,500 | 31,165 | ||||
Contemporary Amperex Technology Co. Ltd. (Class A Stock) | 1,500 | 39,030 | ||||
COSCO SHIPPING Holdings Co. Ltd. (Class A Stock) | 15,700 | 22,438 | ||||
Country Garden Services Holdings Co. Ltd. | 10,000 | 6,418 | ||||
CSPC Pharmaceutical Group Ltd. | 114,000 | 89,729 | ||||
DaShenLin Pharmaceutical Group Co. Ltd. (Class A Stock) | 7,900 | 22,990 | ||||
ENN Energy Holdings Ltd. | 14,900 | 115,936 | ||||
Flat Glass Group Co. Ltd. (Class H Stock) | 6,000 | 14,604 | ||||
Focus Media Information Technology Co. Ltd. (Class A Stock) | 21,800 | 19,525 | ||||
Foshan Haitian Flavouring & Food Co. Ltd. (Class A Stock) | 45,351 | 247,461 |
A1
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
China (cont’d.) | ||||||
Foxconn Industrial Internet Co. Ltd. (Class A Stock) | 27,900 | $90,213 | ||||
Fuyao Glass Industry Group Co. Ltd. (Class H Stock), 144A | 26,000 | 130,995 | ||||
Ganfeng Lithium Group Co. Ltd. (Class H Stock), 144A | 4,560 | 13,978 | ||||
GF Securities Co. Ltd. (Class H Stock) | 21,800 | 22,595 | ||||
GRG Banking Equipment Co. Ltd. (Class A Stock) | 13,100 | 21,634 | ||||
Guangzhou Kingmed Diagnostics Group Co. Ltd. (Class A Stock) | 700 | 5,462 | ||||
H World Group Ltd. | 35,100 | 135,937 | ||||
H World Group Ltd., ADR | 5,627 | 217,765 | ||||
Haier Smart Home Co. Ltd. (Class H Stock) | 46,600 | 145,010 | ||||
Hefei Meiya Optoelectronic Technology, Inc. (Class A Stock) | 10,700 | 28,147 | ||||
Hengan International Group Co. Ltd. | 7,500 | 23,643 | ||||
Hongfa Technology Co. Ltd. (Class A Stock) | 12,400 | 41,611 | ||||
Huadian Power International Corp. Ltd. (Class H Stock) | 128,000 | 68,606 | ||||
Huaibei Mining Holdings Co. Ltd. (Class A Stock) | 12,500 | 28,210 | ||||
Huatai Securities Co. Ltd. (Class H Stock), 144A | 19,600 | 22,428 | ||||
Huayu Automotive Systems Co. Ltd. (Class A Stock) | 21,700 | 49,206 | ||||
Imeik Technology Development Co. Ltd. (Class A Stock) | 200 | 9,322 | ||||
Industrial & Commercial Bank of China Ltd. (Class H Stock) | 474,000 | 238,248 | ||||
Inner Mongolia Yili Industrial Group Co. Ltd. (Class A Stock) | 92,201 | 353,304 | ||||
Innovent Biologics, Inc., 144A* | 4,000 | 19,300 | ||||
iQIYI, Inc., ADR* | 10,326 | 43,679 | ||||
Jason Furniture Hangzhou Co. Ltd. (Class A Stock) | 8,800 | 44,157 | ||||
JD Health International, Inc., 144A* | 5,300 | 18,835 | ||||
JD.com, Inc., ADR(a) | 95,985 | 2,629,029 | ||||
JD.com, Inc. (Class A Stock) | 63,079 | 865,247 | ||||
Jiangsu Expressway Co. Ltd. (Class H Stock) | 28,000 | 28,660 | ||||
Jiangsu Hengli Hydraulic Co. Ltd. (Class A Stock) | 8,300 | 57,607 | ||||
Kanzhun Ltd., ADR | 1,949 | 34,166 | ||||
KE Holdings, Inc., ADR | 1,661 | 22,806 | ||||
Kingdee International Software Group Co. Ltd.* | 23,000 | 26,028 | ||||
Kunlun Energy Co. Ltd. | 84,000 | 70,173 | ||||
Kweichow Moutai Co. Ltd. (Class A Stock) | 3,832 | 898,948 | ||||
Lenovo Group Ltd. | 66,000 | 76,468 | ||||
Li Auto, Inc. (Class A Stock)* | 8,700 | 132,105 | ||||
LONGi Green Energy Technology Co. Ltd. (Class A Stock) | 2,900 | 7,837 | ||||
Luzhou Laojiao Co. Ltd. (Class A Stock) | 1,000 | 25,513 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
China (cont’d.) | ||||||
Meituan (Class B Stock), 144A* | 32,660 | $403,158 | ||||
Midea Group Co. Ltd. (Class A Stock) | 72,300 | 643,249 | ||||
Montage Technology Co. Ltd. (Class A Stock) | 7,941 | 50,800 | ||||
NetEase, Inc. | 52,310 | 1,083,949 | ||||
New Oriental Education & Technology Group, Inc.* | 5,000 | 43,699 | ||||
NXP Semiconductors NV | 15,763 | 3,905,599 | ||||
Oppein Home Group, Inc. (Class A Stock) | 1,700 | 15,037 | ||||
PDD Holdings, Inc., ADR* | 3,958 | 460,118 | ||||
PetroChina Co. Ltd. (Class H Stock) | 324,000 | 277,870 | ||||
PICC Property & Casualty Co. Ltd. (Class H Stock) | 90,000 | 118,777 | ||||
Ping An Insurance Group Co. of China Ltd. (Class H Stock) | 183,000 | 776,960 | ||||
Satellite Chemical Co. Ltd. (Class A Stock)* | 11,400 | 26,779 | ||||
Shanghai Baosight Software Co. Ltd. (Class A Stock) | 7,268 | 38,530 | ||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (Class A Stock) | 2,800 | 107,983 | ||||
Shenzhen Transsion Holdings Co. Ltd. (Class A Stock) | 1,580 | 35,550 | ||||
Shenzhou International Group Holdings Ltd. | 6,800 | 64,555 | ||||
Silergy Corp. | 6,000 | 61,378 | ||||
Sinopharm Group Co. Ltd. (Class H Stock) | 8,400 | 21,540 | ||||
Skshu Paint Co. Ltd. (Class A Stock)* | 4,560 | 20,427 | ||||
StarPower Semiconductor Ltd. (Class A Stock) | 900 | 17,978 | ||||
Sunny Optical Technology Group Co. Ltd. | 2,700 | 13,828 | ||||
Suzhou Maxwell Technologies Co. Ltd. (Class A Stock) | 1,500 | 22,012 | ||||
Tencent Holdings Ltd. | 289,900 | 11,291,589 | ||||
Tencent Music Entertainment Group, ADR* | 4,733 | 52,962 | ||||
Tianqi Lithium Corp. (Class H Stock) | 4,600 | 21,415 | ||||
Tingyi Cayman Islands Holding Corp. | 28,000 | 30,727 | ||||
Trip.com Group Ltd., ADR*(a) | 3,173 | 139,263 | ||||
Wanhua Chemical Group Co. Ltd. (Class A Stock) | 3,100 | 34,381 | ||||
Weichai Power Co. Ltd. (Class H Stock) | 37,000 | 70,600 | ||||
Wuliangye Yibin Co. Ltd. (Class A Stock) | 13,800 | 291,239 | ||||
WuXi AppTec Co. Ltd. (Class H Stock), 144A | 2,464 | 11,707 | ||||
Wuxi Biologics Cayman, Inc., 144A* | 93,000 | 170,131 | ||||
Xiamen C & D, Inc. (Class A Stock) | 31,800 | 44,484 | ||||
Xiaomi Corp. (Class B Stock), 144A* | 20,200 | 39,658 | ||||
Xinyi Solar Holdings Ltd. | 54,000 | 41,931 | ||||
XPeng, Inc., ADR*(a) | 2,787 | 21,404 | ||||
XPeng, Inc. (Class A Stock)* | 2,248 | 8,906 | ||||
Yankuang Energy Group Co. Ltd. (Class H Stock) | 10,000 | 21,028 |
A2
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
China (cont’d.) | ||||||
Yifeng Pharmacy Chain Co. Ltd. (Class A Stock) | 4,100 | $22,207 | ||||
Yum China Holdings, Inc. (OOTC) | 73,471 | 2,923,411 | ||||
Yum China Holdings, Inc. (XHKG) | 4,000 | 157,687 | ||||
Yutong Bus Co. Ltd. (Class A Stock) | 10,100 | 26,131 | ||||
Zhejiang Dingli Machinery Co. Ltd. (Class A Stock) | 5,900 | 45,601 | ||||
Zhejiang Expressway Co. Ltd. (Class H Stock) | 62,000 | 39,786 | ||||
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. (Class A Stock) | 10,700 | 50,881 | ||||
Zhejiang Weixing New Building Materials Co. Ltd. (Class A Stock) | 19,570 | 42,075 | ||||
Zhongji Innolight Co. Ltd. (Class A Stock) | 3,900 | 83,148 | ||||
Zhuzhou CRRC Times Electric Co. Ltd. (Class H Stock) | 26,300 | 83,434 | ||||
Zijin Mining Group Co. Ltd. (Class H Stock) | 72,000 | 144,245 | ||||
ZTO Express Cayman, Inc. | 1,900 | 40,624 | ||||
35,627,241 | ||||||
Colombia — 0.0% | ||||||
Bancolombia SA, ADR | 1,601 | 54,786 | ||||
Ecopetrol SA, ADR(a) | 5,155 | 61,035 | ||||
115,821 | ||||||
Czech Republic — 0.0% | ||||||
Komercni Banka A/S | 647 | 23,173 | ||||
Denmark — 0.8% | ||||||
Novo Nordisk A/S (Class B Stock) | 140,122 | 17,973,927 | ||||
Finland — 0.0% | ||||||
Nordea Bank Abp | 48,438 | 539,817 | ||||
France — 3.3% | ||||||
Air Liquide SA | 24,118 | 5,017,719 | ||||
Cie Generale des Etablissements Michelin SCA | 106,905 | 4,096,960 | ||||
Dassault Systemes SE | 143,747 | 6,363,273 | ||||
Engie SA | 210,644 | 3,529,836 | ||||
Gaztransport Et Technigaz SA | 6,393 | 955,831 | ||||
Legrand SA | 73,055 | 7,736,285 | ||||
LVMH Moet Hennessy Louis Vuitton SE | 21,729 | 19,551,684 | ||||
Publicis Groupe SA | 10,459 | 1,140,246 | ||||
Safran SA | 46,238 | 10,471,599 | ||||
Sodexo SA | 6,118 | 524,455 | ||||
SPIE SA | 31,211 | 1,173,238 | ||||
TotalEnergies SE | 29,603 | 2,036,372 | ||||
Vallourec SACA* | 41,613 | 772,943 | ||||
Vinci SA | 118,818 | 15,247,755 | ||||
78,618,196 | ||||||
Germany — 0.7% | ||||||
Allianz SE | 5,070 | 1,519,567 | ||||
CTS Eventim AG & Co. KGaA | 11,889 | 1,057,085 | ||||
DWS Group GmbH & Co. KGaA, 144A | 14,333 | 631,147 | ||||
Heidelberg Materials AG | 7,925 | 872,395 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Germany (cont’d.) | ||||||
KION Group AG | 18,082 | $951,180 | ||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 19,448 | 9,493,364 | ||||
Scout24 SE, 144A | 5,696 | 429,127 | ||||
TeamViewer SE, 144A* | 44,862 | 668,545 | ||||
15,622,410 | ||||||
Greece — 0.0% | ||||||
Alpha Services & Holdings SA* | 12,451 | 21,866 | ||||
Hellenic Telecommunications Organization SA | 5,818 | 85,782 | ||||
Mytilineos SA | 1,061 | 40,917 | ||||
National Bank of Greece SA* | 2,907 | 22,739 | ||||
OPAP SA | 3,578 | 64,409 | ||||
Piraeus Financial Holdings SA* | 5,467 | 22,842 | ||||
258,555 | ||||||
Hong Kong — 0.3% | ||||||
AIA Group Ltd. | 394,200 | 2,651,615 | ||||
Hong Kong Exchanges & Clearing Ltd. | 105,000 | 3,059,519 | ||||
Jardine Matheson Holdings Ltd. | 4,400 | 164,127 | ||||
Sino Biopharmaceutical Ltd. | 55,000 | 21,267 | ||||
Techtronic Industries Co. Ltd. | 50,500 | 686,187 | ||||
6,582,715 | ||||||
Hungary — 0.0% | ||||||
OTP Bank Nyrt | 3,565 | 164,106 | ||||
Richter Gedeon Nyrt | 3,460 | 87,756 | ||||
251,862 | ||||||
India — 0.7% | ||||||
Aarti Industries Ltd. | 6,156 | 49,199 | ||||
ABB India Ltd. | 1,001 | 76,484 | ||||
Apollo Hospitals Enterprise Ltd. | 1,524 | 116,338 | ||||
Ashok Leyland Ltd. | 10,126 | 20,841 | ||||
Asian Paints Ltd. | 1,577 | 53,819 | ||||
Aurobindo Pharma Ltd. | 3,061 | 40,110 | ||||
Axis Bank Ltd. | 17,212 | 216,930 | ||||
Bajaj Auto Ltd. | 414 | 45,548 | ||||
Bajaj Finance Ltd. | 1,118 | 97,622 | ||||
Bank of Baroda | 5,557 | 17,654 | ||||
Bharat Electronics Ltd. | 19,202 | 46,507 | ||||
Bharat Petroleum Corp. Ltd. | 4,490 | 32,527 | ||||
Bharti Airtel Ltd. | 10,148 | 149,731 | ||||
Biocon Ltd. | 14,023 | 44,608 | ||||
Britannia Industries Ltd. | 2,807 | 165,317 | ||||
Cholamandalam Investment & Finance Co. Ltd. | 3,513 | 48,919 | ||||
Cipla Ltd. | 2,893 | 52,007 | ||||
Coal India Ltd. | 8,923 | 46,657 | ||||
Coforge Ltd. | 311 | 20,598 | ||||
Dabur India Ltd. | 9,715 | 61,014 | ||||
Delhivery Ltd.* | 3,267 | 17,547 | ||||
Divi’s Laboratories Ltd. | 506 | 20,943 | ||||
DLF Ltd. | 3,636 | 39,230 | ||||
Dr. Reddy’s Laboratories Ltd. | 2,326 | 171,901 |
A3
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
India (cont’d.) | ||||||
Eicher Motors Ltd. | 3,049 | $147,271 | ||||
GAIL India Ltd. | 17,496 | 38,083 | ||||
Godrej Properties Ltd.* | 536 | 14,819 | ||||
Havells India Ltd. | 1,052 | 19,150 | ||||
HCL Technologies Ltd. | 3,179 | 59,106 | ||||
HDFC Bank Ltd. | 171,082 | 2,983,263 | ||||
HDFC Bank Ltd., ADR(a) | 74,964 | 4,195,735 | ||||
HDFC Life Insurance Co. Ltd., 144A | 15,978 | 121,474 | ||||
Hero MotoCorp Ltd. | 537 | 30,489 | ||||
Hindalco Industries Ltd. | 10,805 | 72,951 | ||||
Hindustan Aeronautics Ltd. | 491 | 19,648 | ||||
Hindustan Petroleum Corp. Ltd. | 5,178 | 29,561 | ||||
Hindustan Unilever Ltd. | 7,949 | 216,279 | ||||
ICICI Bank Ltd. | 38,203 | 503,655 | ||||
Indian Oil Corp. Ltd. | 15,538 | 31,354 | ||||
Indian Railway Catering & Tourism Corp. Ltd. | 1,665 | 18,592 | ||||
Infosys Ltd., ADR(a) | 113,602 | 2,036,884 | ||||
InterGlobe Aviation Ltd., 144A* | 1,459 | 62,172 | ||||
ITC Ltd. | 33,010 | 169,987 | ||||
Jindal Steel & Power Ltd. | 2,474 | 25,338 | ||||
Kotak Mahindra Bank Ltd. | 12,763 | 274,201 | ||||
Larsen & Toubro Ltd. | 5,211 | 235,690 | ||||
Mahindra & Mahindra Ltd. | 11,030 | 254,808 | ||||
Maruti Suzuki India Ltd. | 1,814 | 274,606 | ||||
Max Healthcare Institute Ltd. | 8,647 | 85,280 | ||||
NMDC Ltd. | 9,575 | 23,239 | ||||
NTPC Ltd. | 25,602 | 103,465 | ||||
Oil & Natural Gas Corp. Ltd. | 18,650 | 60,203 | ||||
Petronet LNG Ltd. | 25,091 | 79,447 | ||||
Power Finance Corp. Ltd. | 4,985 | 23,389 | ||||
Power Grid Corp. of India Ltd. | 38,703 | 128,471 | ||||
Reliance Industries Ltd. | 22,058 | 788,754 | ||||
Samvardhana Motherson International Ltd. | 27,404 | 38,648 | ||||
Shree Cement Ltd. | 143 | 44,140 | ||||
Shriram Finance Ltd. | 5,618 | 159,373 | ||||
State Bank of India | 11,482 | 103,987 | ||||
Sun Pharmaceutical Industries Ltd. | 1,182 | 23,011 | ||||
Supreme Industries Ltd. | 487 | 24,761 | ||||
Tata Consultancy Services Ltd. | 7,924 | 369,829 | ||||
Tata Consumer Products Ltd. | 5,446 | 71,713 | ||||
Tata Motors Ltd. | 9,223 | 110,108 | ||||
Tata Steel Ltd. | 37,800 | 70,881 | ||||
Titan Co. Ltd. | 481 | 21,987 | ||||
Trent Ltd. | 1,419 | 67,354 | ||||
Triveni Turbine Ltd. | 4,022 | 25,984 | ||||
UltraTech Cement Ltd. | 1,322 | 154,810 | ||||
UPL Ltd. | 3,212 | 17,597 | ||||
Vedanta Ltd. | 5,647 | 18,485 | ||||
WNS Holdings Ltd.* | 275 | 13,896 | ||||
Zomato Ltd.* | 11,866 | 26,009 | ||||
16,141,988 | ||||||
Indonesia — 0.3% | ||||||
Bank Central Asia Tbk PT | 6,928,600 | 4,406,159 | ||||
Bank Mandiri Persero Tbk PT | 291,800 | 132,767 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Indonesia (cont’d.) | ||||||
Bank Rakyat Indonesia Persero Tbk PT | 3,276,407 | $1,252,816 | ||||
Telkom Indonesia Persero Tbk PT | 8,116,000 | 1,785,078 | ||||
Unilever Indonesia Tbk PT | 891,600 | 151,854 | ||||
United Tractors Tbk PT | 59,300 | 90,434 | ||||
7,819,108 | ||||||
Ireland — 0.1% | ||||||
AIB Group PLC | 160,894 | 816,769 | ||||
Bank of Ireland Group PLC | 86,482 | 882,555 | ||||
Glanbia PLC | 37,600 | 741,644 | ||||
2,440,968 | ||||||
Italy — 0.5% | ||||||
Buzzi SpA | 19,712 | 774,148 | ||||
Coca-Cola HBC AG* | 29,085 | 919,094 | ||||
Iveco Group NV* | 81,631 | 1,216,072 | ||||
Prysmian SpA | 21,148 | 1,102,952 | ||||
Ryanair Holdings PLC, ADR(a) | 7,767 | 1,130,798 | ||||
Saipem SpA* | 349,354 | 853,394 | ||||
UniCredit SpA | 148,678 | 5,646,687 | ||||
11,643,145 | ||||||
Japan — 1.9% | ||||||
Allegro MicroSystems, Inc.* | 30,396 | 819,476 | ||||
Daikin Industries Ltd. | 17,700 | 2,416,771 | ||||
Hitachi Ltd. | 33,400 | 3,052,107 | ||||
Hoya Corp. | 26,000 | 3,251,842 | ||||
Japan Exchange Group, Inc. | 66,500 | 1,801,184 | ||||
Keyence Corp. | 7,700 | 3,574,809 | ||||
Mitsubishi UFJ Financial Group, Inc. | 320,200 | 3,257,748 | ||||
Mitsui Fudosan Co. Ltd. | 249,200 | 2,686,743 | ||||
Shin-Etsu Chemical Co. Ltd. | 259,900 | 11,399,721 | ||||
Sony Group Corp. | 38,500 | 3,301,403 | ||||
Terumo Corp. | 147,000 | 2,689,902 | ||||
Tokio Marine Holdings, Inc. | 198,400 | 6,219,100 | ||||
44,470,806 | ||||||
Kuwait — 0.0% | ||||||
National Bank of Kuwait SAKP | 33,990 | 106,048 | ||||
Luxembourg — 0.0% | ||||||
ArcelorMittal SA | 15,263 | 419,536 | ||||
Macau — 0.0% | ||||||
Sands China Ltd.* | 104,000 | 293,409 | ||||
Malaysia — 0.0% | ||||||
CIMB Group Holdings Bhd | 76,200 | 105,556 | ||||
Malayan Banking Bhd | 27,600 | 56,291 | ||||
Petronas Chemicals Group Bhd | 50,000 | 71,780 | ||||
Public Bank Bhd | 145,200 | 129,203 | ||||
Tenaga Nasional Bhd | 17,800 | 42,310 | ||||
405,140 | ||||||
Mexico — 0.3% | ||||||
America Movil SAB de CV (Class B Stock) | 131,914 | 123,161 | ||||
Cemex SAB de CV, UTS* | 68,920 | 62,121 |
A4
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Mexico (cont’d.) | ||||||
Coca-Cola Femsa SAB de CV, UTS | 4,644 | $45,084 | ||||
Fomento Economico Mexicano SAB de CV, ADR | 5,004 | 651,871 | ||||
Fomento Economico Mexicano SAB de CV, UTS | 7,653 | 100,026 | ||||
Grupo Aeroportuario del Pacifico SAB de CV (Class B Stock) | 2,727 | 44,284 | ||||
Grupo Aeroportuario del Sureste SAB de CV (Class B Stock) | 4,260 | 134,773 | ||||
Grupo Financiero Banorte SAB de CV (Class O Stock) | 101,455 | 1,077,594 | ||||
Grupo Mexico SAB de CV (Class B Stock) | 31,687 | 188,671 | ||||
Kimberly-Clark de Mexico SAB de CV (Class A Stock) | 48,642 | 113,228 | ||||
Regional SAB de CV | 8,263 | 81,664 | ||||
Wal-Mart de Mexico SAB de CV | 1,170,127 | 4,710,800 | ||||
7,333,277 | ||||||
Netherlands — 1.5% | ||||||
Adyen NV, 144A* | 656 | 1,108,074 | ||||
ASML Holding NV (XAMS) | 15,145 | 14,682,500 | ||||
ASML Holding NV (NYSE) | 907 | 880,216 | ||||
ASR Nederland NV | 14,683 | 719,610 | ||||
Koninklijke KPN NV | 180,288 | 674,351 | ||||
Pluxee NV* | 10,620 | 313,933 | ||||
Shell PLC | 480,093 | 15,929,246 | ||||
34,307,930 | ||||||
Norway — 0.1% | ||||||
Aker Solutions ASA | 105,953 | 380,030 | ||||
Norwegian Air Shuttle ASA* | 481,807 | 728,063 | ||||
1,108,093 | ||||||
Panama — 0.0% | ||||||
Copa Holdings SA (Class A Stock) | 465 | 48,434 | ||||
Peru — 0.0% | ||||||
Credicorp Ltd. | 3,739 | 633,499 | ||||
Philippines — 0.0% | ||||||
Ayala Land, Inc. | 90,200 | 51,843 | ||||
Bank of the Philippine Islands | 21,540 | 45,286 | ||||
BDO Unibank, Inc. | 18,870 | 51,836 | ||||
SM Investments Corp. | 1,410 | 24,396 | ||||
173,361 | ||||||
Poland — 0.0% | ||||||
Bank Polska Kasa Opieki SA | 521 | 23,676 | ||||
Dino Polska SA, 144A* | 1,151 | 111,661 | ||||
Powszechna Kasa Oszczednosci Bank Polski SA | 4,902 | 72,735 | ||||
Powszechny Zaklad Ubezpieczen SA | 7,234 | 88,354 | ||||
296,426 | ||||||
Qatar — 0.0% | ||||||
Industries Qatar QSC | 25,075 | 82,480 | ||||
Ooredoo QPSC | 7,688 | 22,388 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Qatar (cont’d.) | ||||||
Qatar National Bank QPSC | 49,874 | $194,572 | ||||
299,440 | ||||||
Russia — 0.0% | ||||||
Gazprom PJSC*^ | 165,440 | — | ||||
Magnitogorsk Iron & Steel Works PJSC*^ | 112,615 | — | ||||
MMC Norilsk Nickel PJSC^ | 1,439 | — | ||||
MMC Norilsk Nickel PJSC, ADR*^ | 8 | — | ||||
Novatek PJSC^ | 5,822 | 1 | ||||
Rosneft Oil Co. PJSC^ | 30,688 | — | ||||
Sberbank of Russia PJSC^ | 43,116 | — | ||||
Sberbank of Russia PJSC, ADR*(a)^ | 18,600 | 2 | ||||
Severstal PAO, GDR*^ | 11,949 | 1 | ||||
4 | ||||||
Saudi Arabia — 0.1% | ||||||
Al Rajhi Bank | 17,666 | 391,631 | ||||
Alinma Bank | 13,196 | 154,177 | ||||
Almarai Co. JSC | 4,083 | 62,246 | ||||
Bupa Arabia for Cooperative Insurance Co. | 371 | 26,112 | ||||
Dr. Sulaiman Al Habib Medical Services Group Co. | 288 | 24,070 | ||||
Etihad Etisalat Co. | 7,635 | 107,063 | ||||
Mouwasat Medical Services Co. | 692 | 25,159 | ||||
SABIC Agri-Nutrients Co. | 2,293 | 74,974 | ||||
Saudi Arabian Mining Co.* | 3,409 | 45,927 | ||||
Saudi Arabian Oil Co., 144A | 18,633 | 152,838 | ||||
Saudi Basic Industries Corp. | 8,814 | 183,569 | ||||
Saudi National Bank (The) | 30,786 | 335,075 | ||||
Saudi Telecom Co. | 16,990 | 179,358 | ||||
1,762,199 | ||||||
Singapore — 0.4% | ||||||
DBS Group Holdings Ltd. | 311,700 | 8,318,593 | ||||
South Africa — 0.1% | ||||||
Absa Group Ltd. | 9,853 | 76,926 | ||||
Bid Corp. Ltd. | 22,141 | 539,442 | ||||
Bidvest Group Ltd. (The) | 23,330 | 299,013 | ||||
Capitec Bank Holdings Ltd. | 5,802 | 641,703 | ||||
Clicks Group Ltd. | 7,901 | 123,547 | ||||
Discovery Ltd. | 4,957 | 31,562 | ||||
FirstRand Ltd. | 48,641 | 158,487 | ||||
Gold Fields Ltd. | 3,747 | 60,111 | ||||
Impala Platinum Holdings Ltd. | 8,099 | 33,459 | ||||
MTN Group Ltd. | 19,047 | 94,240 | ||||
Naspers Ltd. (Class N Stock) | 1,119 | 198,360 | ||||
Sanlam Ltd. | 21,484 | 78,715 | ||||
Shoprite Holdings Ltd. | 6,338 | 82,823 | ||||
Standard Bank Group Ltd. | 16,644 | 162,835 | ||||
2,581,223 | ||||||
South Korea — 1.2% | ||||||
BGF retail Co. Ltd. | 400 | 34,746 | ||||
CJ CheilJedang Corp. | 104 | 22,561 | ||||
Coway Co. Ltd. | 1,638 | 68,467 |
A5
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
South Korea (cont’d.) | ||||||
Delivery Hero SE, 144A* | 17,795 | $508,838 | ||||
Doosan Bobcat, Inc. | 600 | 24,073 | ||||
Hana Financial Group, Inc. | 3,704 | 162,153 | ||||
Hankook Tire & Technology Co. Ltd. | 1,981 | 79,600 | ||||
Hanwha Aerospace Co. Ltd. | 160 | 24,680 | ||||
HL Mando Co. Ltd. | 1,130 | 28,638 | ||||
HMM Co. Ltd. | 1,900 | 22,224 | ||||
Hotel Shilla Co. Ltd. | 486 | 21,873 | ||||
Hugel, Inc.* | 307 | 44,009 | ||||
Hyundai Glovis Co. Ltd. | 867 | 116,364 | ||||
Hyundai Marine & Fire Insurance Co. Ltd. | 1,725 | 39,509 | ||||
Hyundai Mobis Co. Ltd. | 849 | 164,823 | ||||
Hyundai Motor Co. | 1,351 | 237,733 | ||||
Kakao Corp. | 561 | 22,676 | ||||
KB Financial Group, Inc. | 3,960 | 206,940 | ||||
Kia Corp. | 28,609 | 2,377,672 | ||||
KIWOOM Securities Co. Ltd. | 606 | 55,515 | ||||
Koh Young Technology, Inc. | 1,526 | 22,120 | ||||
Korea Investment Holdings Co. Ltd. | 441 | 21,834 | ||||
Korean Air Lines Co. Ltd. | 3,708 | 59,700 | ||||
Krafton, Inc.* | 128 | 23,772 | ||||
LG Chem Ltd. | 1,677 | 548,891 | ||||
LG Energy Solution Ltd.* | 59 | 17,576 | ||||
Lotte Chemical Corp. | 459 | 40,920 | ||||
NAVER Corp. | 3,857 | 535,844 | ||||
NCSoft Corp. | 91 | 13,921 | ||||
Orion Corp. | 463 | 31,593 | ||||
POSCO Holdings, Inc. | 481 | 150,663 | ||||
Samsung Biologics Co. Ltd., 144A* | 219 | 135,545 | ||||
Samsung C&T Corp. | 559 | 66,476 | ||||
Samsung Electro-Mechanics Co. Ltd. | 336 | 37,437 | ||||
Samsung Electronics Co. Ltd. | 122,087 | 7,337,125 | ||||
Samsung Electronics Co. Ltd., GDR | 6,376 | 9,466,758 | ||||
Samsung Engineering Co. Ltd.* | 1,994 | 37,350 | ||||
Samsung Fire & Marine Insurance Co. Ltd. | 333 | 76,473 | ||||
Samsung Securities Co. Ltd. | 741 | 22,407 | ||||
Shinhan Financial Group Co. Ltd. | 4,520 | 159,443 | ||||
SK Hynix, Inc. | 32,113 | 4,254,182 | ||||
SK IE Technology Co. Ltd., 144A* | 676 | 36,718 | ||||
SK Innovation Co. Ltd.* | 193 | 17,000 | ||||
SK Telecom Co. Ltd. | 2,041 | 80,814 | ||||
SK, Inc. | 350 | 47,478 | ||||
SKC Co. Ltd.* | 755 | 67,098 | ||||
SM Entertainment Co. Ltd. | 924 | 58,633 | ||||
S-Oil Corp. | 2,020 | 116,995 | ||||
27,747,860 | ||||||
Spain — 0.4% | ||||||
Banco Bilbao Vizcaya Argentaria SA | 165,124 | 1,966,379 | ||||
Banco Santander SA | 301,048 | 1,470,449 | ||||
Industria de Diseno Textil SA | 97,650 | 4,917,292 | ||||
8,354,120 | ||||||
Sweden — 0.4% | ||||||
AAK AB | 29,631 | 704,130 | ||||
Atlas Copco AB (Class A Stock) | 292,759 | 4,944,277 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Sweden (cont’d.) | ||||||
Hemnet Group AB | 21,098 | $645,548 | ||||
Volvo AB (Class B Stock)(a) | 146,895 | 3,981,068 | ||||
10,275,023 | ||||||
Switzerland — 0.3% | ||||||
Accelleron Industries AG | 22,046 | 825,776 | ||||
UBS Group AG | 167,178 | 5,147,566 | ||||
Zurich Insurance Group AG | 3,480 | 1,879,946 | ||||
7,853,288 | ||||||
Taiwan — 1.5% | ||||||
Accton Technology Corp. | 6,000 | 85,983 | ||||
Advantech Co. Ltd. | 15,043 | 191,382 | ||||
ASE Technology Holding Co. Ltd. | 27,000 | 131,061 | ||||
Asustek Computer, Inc. | 7,300 | 96,641 | ||||
AUO Corp.* | 122,000 | 68,971 | ||||
Chailease Holding Co. Ltd. | 25,386 | 136,030 | ||||
Chunghwa Telecom Co. Ltd. | 35,000 | 137,485 | ||||
CTBC Financial Holding Co. Ltd. | 224,000 | 226,723 | ||||
Delta Electronics, Inc. | 103,700 | 1,109,888 | ||||
E.Sun Financial Holding Co. Ltd. | 182,740 | 154,966 | ||||
Eclat Textile Co. Ltd. | 2,700 | 46,177 | ||||
eMemory Technology, Inc. | 740 | 55,561 | ||||
Eva Airways Corp. | 62,000 | 61,235 | ||||
Evergreen Marine Corp. Taiwan Ltd. | 6,000 | 33,024 | ||||
Fubon Financial Holding Co. Ltd. | 71,543 | 154,865 | ||||
Gigabyte Technology Co. Ltd. | 4,000 | 39,140 | ||||
Hon Hai Precision Industry Co. Ltd. | 58,000 | 281,709 | ||||
Largan Precision Co. Ltd. | 4,703 | 356,995 | ||||
MediaTek, Inc. | 8,190 | 296,759 | ||||
Mega Financial Holding Co. Ltd. | 36,051 | 45,332 | ||||
Nan Ya Plastics Corp. | 37,000 | 63,653 | ||||
Nien Made Enterprise Co. Ltd. | 6,000 | 66,502 | ||||
Novatek Microelectronics Corp. | 2,000 | 36,820 | ||||
President Chain Store Corp. | 66,000 | 547,291 | ||||
Quanta Computer, Inc. | 35,000 | 306,494 | ||||
Realtek Semiconductor Corp. | 8,800 | 153,245 | ||||
Taiwan Mobile Co. Ltd. | 25,000 | 79,643 | ||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 574,000 | 13,750,867 | ||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 122,063 | 16,606,671 | ||||
Uni-President Enterprises Corp. | 71,000 | 169,429 | ||||
United Microelectronics Corp. | 74,000 | 120,179 | ||||
Vanguard International Semiconductor Corp. | 11,000 | 29,155 | ||||
Wistron Corp. | 8,000 | 30,137 | ||||
Wiwynn Corp. | 1,570 | 107,508 | ||||
Yageo Corp. | 2,000 | 37,113 | ||||
Yang Ming Marine Transport Corp. | 16,000 | 22,090 | ||||
Yuanta Financial Holding Co. Ltd. | 167,169 | 157,289 | ||||
Zhen Ding Technology Holding Ltd. | 7,000 | 27,339 | ||||
36,021,352 | ||||||
Thailand — 0.1% | ||||||
Bumrungrad Hospital PCL | 3,600 | 22,029 | ||||
CP ALL PCL | 24,400 | 36,502 |
A6
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Thailand (cont’d.) | ||||||
Fabrinet* | 5,113 | $966,459 | ||||
Indorama Ventures PCL, NVDR | 47,600 | 31,226 | ||||
Kasikornbank PCL, NVDR | 13,300 | 45,218 | ||||
Ngern Tid Lor PCL, NVDR | 46,000 | 28,172 | ||||
PTT Exploration & Production PCL, NVDR | 32,200 | 132,041 | ||||
PTT Global Chemical PCL, NVDR | 53,200 | 55,527 | ||||
PTT PCL, NVDR | 82,600 | 75,997 | ||||
SCB X PCL, NVDR | 22,400 | 70,025 | ||||
Siam Cement PCL (The) | 8,400 | 58,779 | ||||
Siam Cement PCL (The), NVDR | 5,500 | 38,486 | ||||
Thai Oil PCL | 68,638 | 110,844 | ||||
Thai Union Group PCL, NVDR | 89,200 | 35,237 | ||||
1,706,542 | ||||||
Turkey — 0.0% | ||||||
BIM Birlesik Magazalar A/S | 7,993 | 86,838 | ||||
Ford Otomotiv Sanayi A/S | 1,286 | 45,917 | ||||
KOC Holding A/S* | 13,025 | 81,940 | ||||
Turk Hava Yollari AO* | 7,245 | 66,697 | ||||
281,392 | ||||||
United Arab Emirates — 0.0% | ||||||
Abu Dhabi Commercial Bank PJSC | 9,712 | 22,207 | ||||
Aldar Properties PJSC | 30,703 | 46,157 | ||||
Dubai Islamic Bank PJSC | 52,158 | 82,944 | ||||
Emaar Properties PJSC | 82,479 | 183,044 | ||||
Emirates NBD Bank PJSC | 19,369 | 91,267 | ||||
Emirates Telecommunications Group Co. PJSC | 20,508 | 102,304 | ||||
First Abu Dhabi Bank PJSC | 15,971 | 58,289 | ||||
586,212 | ||||||
United Kingdom — 2.3% | ||||||
3i Group PLC | 165,512 | 5,868,628 | ||||
Anglogold Ashanti PLC | 2,761 | 61,643 | ||||
AstraZeneca PLC | 35,818 | 4,811,927 | ||||
Auto Trader Group PLC, 144A | 74,406 | 657,073 | ||||
Barratt Developments PLC | 162,955 | 978,070 | ||||
BP PLC | 987,803 | 6,196,913 | ||||
Cranswick PLC | 9,273 | 479,882 | ||||
Diageo PLC | 161,817 | 5,987,588 | ||||
InterContinental Hotels Group PLC | 29,398 | 3,054,802 | ||||
Intermediate Capital Group PLC | 28,574 | 740,109 | ||||
Lloyds Banking Group PLC | 7,826,513 | 5,118,515 | ||||
Marks & Spencer Group PLC | 280,950 | 940,865 | ||||
Melrose Industries PLC | 128,656 | 1,092,405 | ||||
RELX PLC (XLON) | 90,917 | 3,920,836 | ||||
RELX PLC (BATE) | 122,306 | 5,297,901 | ||||
Rolls-Royce Holdings PLC* | 244,338 | 1,314,628 | ||||
SSE PLC | 149,741 | 3,121,801 | ||||
Taylor Wimpey PLC | 544,741 | 941,787 | ||||
TechnipFMC PLC | 68,839 | 1,728,547 | ||||
Whitbread PLC | 27,228 | 1,138,347 | ||||
53,452,267 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
United States — 40.2% | ||||||
AbbVie, Inc. | 69,954 | $12,738,623 | ||||
Accenture PLC (Class A Stock) | 5,575 | 1,932,351 | ||||
Acushnet Holdings Corp.(a) | 15,251 | 1,005,803 | ||||
Advanced Micro Devices, Inc.* | 29,127 | 5,257,132 | ||||
Air Lease Corp.(a) | 11,374 | 585,079 | ||||
Albertson’s Cos., Inc. (Class A Stock) | 35,808 | 767,724 | ||||
Align Technology, Inc.* | 1,774 | 581,730 | ||||
Alnylam Pharmaceuticals, Inc.*(a) | 3,415 | 510,372 | ||||
Alphabet, Inc. (Class A Stock)* | 27,344 | 4,127,030 | ||||
Alphabet, Inc. (Class C Stock)* | 41,448 | 6,310,872 | ||||
Amazon.com, Inc.* | 261,244 | 47,123,193 | ||||
American Express Co. | 17,867 | 4,068,137 | ||||
American Homes 4 Rent (Class A Stock), REIT(a) | 27,659 | 1,017,298 | ||||
Ameriprise Financial, Inc. | 5,156 | 2,260,597 | ||||
AMETEK, Inc. | 8,498 | 1,554,284 | ||||
Analog Devices, Inc. | 51,449 | 10,176,098 | ||||
Apple Hospitality REIT, Inc., REIT | 35,038 | 573,922 | ||||
Apple, Inc. | 216,801 | 37,177,036 | ||||
Applied Industrial Technologies, Inc. | 7,011 | 1,385,023 | ||||
AptarGroup, Inc. | 10,324 | 1,485,520 | ||||
Arch Capital Group Ltd.* | 5,842 | 540,034 | ||||
Arista Networks, Inc.* | 3,658 | 1,060,747 | ||||
AssetMark Financial Holdings, Inc.* | 28,310 | 1,002,457 | ||||
AutoZone, Inc.* | 2,229 | 7,025,028 | ||||
Axalta Coating Systems Ltd.* | 61,882 | 2,128,122 | ||||
AZEK Co., Inc. (The)* | 24,508 | 1,230,792 | ||||
Azenta, Inc.*(a) | 11,548 | 696,113 | ||||
Badger Meter, Inc. | 6,528 | 1,056,296 | ||||
Baker Hughes Co. | 75,214 | 2,519,669 | ||||
Balchem Corp. | 4,951 | 767,157 | ||||
Bank of America Corp. | 270,161 | 10,244,505 | ||||
BankUnited, Inc. | 35,613 | 997,164 | ||||
Bath & Body Works, Inc. | 19,465 | 973,639 | ||||
Berkshire Hathaway, Inc. (Class B Stock)* | 11,770 | 4,949,520 | ||||
Best Buy Co., Inc.(a) | 7,805 | 640,244 | ||||
Biogen, Inc.* | 2,742 | 591,257 | ||||
BJ’s Wholesale Club Holdings, Inc.* | 20,773 | 1,571,477 | ||||
Blackstone, Inc. | 15,316 | 2,012,063 | ||||
Booking Holdings, Inc. | 677 | 2,456,075 | ||||
Booz Allen Hamilton Holding Corp. | 8,222 | 1,220,474 | ||||
Boston Scientific Corp.* | 32,634 | 2,235,103 | ||||
Bright Horizons Family Solutions, Inc.*(a) | 12,045 | 1,365,421 | ||||
Bristol-Myers Squibb Co. | 66,921 | 3,629,126 | ||||
Brixmor Property Group, Inc., REIT | 42,603 | 999,040 | ||||
Broadcom, Inc. | 3,201 | 4,242,637 | ||||
Brunswick Corp. | 12,759 | 1,231,499 | ||||
Cactus, Inc. (Class A Stock)(a) | 5,883 | 294,679 | ||||
Cadence Design Systems, Inc.* | 3,141 | 977,730 | ||||
Capital One Financial Corp. | 24,839 | 3,698,279 | ||||
Carlisle Cos., Inc. | 3,307 | 1,295,848 | ||||
Carrier Global Corp. | 19,428 | 1,129,350 | ||||
Carter’s, Inc.(a) | 9,847 | 833,844 | ||||
Casella Waste Systems, Inc. (Class A Stock)* | 17,130 | 1,693,643 | ||||
Casey’s General Stores, Inc. | 4,322 | 1,376,341 |
A7
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
United States (cont’d.) | ||||||
CBRE Group, Inc. (Class A Stock)* | 7,336 | $713,353 | ||||
CDW Corp. | 2,344 | 599,548 | ||||
Cencora, Inc.(a) | 7,997 | 1,943,191 | ||||
Certara, Inc.* | 46,712 | 835,211 | ||||
Charles Schwab Corp. (The) | 46,251 | 3,345,797 | ||||
Chemed Corp. | 2,216 | 1,422,517 | ||||
Chevron Corp. | 53,702 | 8,470,953 | ||||
Chubb Ltd. | 3,983 | 1,032,115 | ||||
Cigna Group (The)(a) | 2,821 | 1,024,559 | ||||
Cisco Systems, Inc. | 11,740 | 585,943 | ||||
Citizens Financial Group, Inc. | 28,696 | 1,041,378 | ||||
Claire’s Private Placement*^ | 313 | 33,648 | ||||
Clearwater Analytics Holdings, Inc. (Class A Stock)* | 51,706 | 914,679 | ||||
CME Group, Inc. | 69,835 | 15,034,777 | ||||
CNA Financial Corp. | 15,065 | 684,252 | ||||
Coca-Cola Co. (The) | 139,578 | 8,539,382 | ||||
Cognex Corp.(a) | 13,896 | 589,468 | ||||
Columbia Sportswear Co.(a) | 4,568 | 370,830 | ||||
Commerce Bancshares, Inc.(a) | 20,594 | 1,095,601 | ||||
Confluent, Inc. (Class A Stock)*(a) | 28,168 | 859,687 | ||||
ConocoPhillips | 58,695 | 7,470,700 | ||||
Constellation Brands, Inc. (Class A Stock) | 2,972 | 807,671 | ||||
Cooper Cos., Inc. (The) | 9,940 | 1,008,512 | ||||
Copart, Inc.* | 29,378 | 1,701,574 | ||||
Core & Main, Inc. (Class A Stock)* | 21,565 | 1,234,596 | ||||
Corpay, Inc.* | 4,634 | 1,429,774 | ||||
Coterra Energy, Inc. | 23,487 | 654,818 | ||||
Crowdstrike Holdings, Inc. (Class A Stock)* | 4,372 | 1,401,619 | ||||
CSX Corp. | 74,694 | 2,768,907 | ||||
CubeSmart, REIT | 26,980 | 1,220,036 | ||||
Cullen/Frost Bankers, Inc.(a) | 10,473 | 1,178,946 | ||||
Cushman & Wakefield PLC* | 116,318 | 1,216,686 | ||||
CVS Health Corp. | 11,742 | 936,542 | ||||
Danaher Corp. | 6,121 | 1,528,536 | ||||
Deere & Co. | 30,936 | 12,706,653 | ||||
Dick’s Sporting Goods, Inc.(a) | 4,784 | 1,075,730 | ||||
Digital Realty Trust, Inc., REIT | 12,100 | 1,742,884 | ||||
Dominion Energy, Inc. | 42,955 | 2,112,956 | ||||
DoorDash, Inc. (Class A Stock)* | 9,712 | 1,337,537 | ||||
Douglas Dynamics, Inc. | 17,048 | 411,198 | ||||
Dover Corp. | 7,898 | 1,399,447 | ||||
Dow, Inc. | 56,317 | 3,262,444 | ||||
Driven Brands Holdings, Inc.* | 60,261 | 951,521 | ||||
DT Midstream, Inc. | 17,528 | 1,070,961 | ||||
EastGroup Properties, Inc., REIT | 8,037 | 1,444,812 | ||||
Eaton Corp. PLC | 12,214 | 3,819,074 | ||||
Edison International | 10,787 | 762,965 | ||||
elf Beauty, Inc.* | 4,011 | 786,276 | ||||
Eli Lilly & Co. | 6,860 | 5,336,806 | ||||
Encompass Health Corp. | 21,381 | 1,765,643 | ||||
Energizer Holdings, Inc.(a) | 19,011 | 559,684 | ||||
Entegris, Inc. | 10,885 | 1,529,778 | ||||
Entergy Corp. | 4,010 | 423,777 | ||||
Envestnet, Inc.*(a) | 15,793 | 914,573 | ||||
Envista Holdings Corp.* | 39,419 | 842,778 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
United States (cont’d.) | ||||||
EOG Resources, Inc. | 52,720 | $6,739,725 | ||||
EPAM Systems, Inc.* | 1,724 | 476,100 | ||||
Evercore, Inc. (Class A Stock) | 6,807 | 1,310,960 | ||||
Exact Sciences Corp.* | 15,159 | 1,046,881 | ||||
Expedia Group, Inc.* | 5,909 | 813,965 | ||||
Exxon Mobil Corp. | 106,404 | 12,368,401 | ||||
Federal Realty Investment Trust, REIT(a) | 9,011 | 920,203 | ||||
FedEx Corp. | 5,257 | 1,523,163 | ||||
Ferguson PLC | 22,787 | 4,985,671 | ||||
Fidelity National Information Services, Inc. | 29,704 | 2,203,443 | ||||
Fifth Third Bancorp | 10,017 | 372,733 | ||||
First Advantage Corp.(a) | 73,497 | 1,192,121 | ||||
First Citizens BancShares, Inc. (Class A Stock) | 853 | 1,394,655 | ||||
First Financial Bancorp | 45,422 | 1,018,361 | ||||
First Hawaiian, Inc. | 51,657 | 1,134,388 | ||||
First Interstate BancSystem, Inc. (Class A Stock) | 38,029 | 1,034,769 | ||||
Fiserv, Inc.* | 15,626 | 2,497,347 | ||||
Fortune Brands Innovations, Inc. | 14,178 | 1,200,451 | ||||
Freshpet, Inc.* | 8,775 | 1,016,672 | ||||
Garmin Ltd.(a) | 6,083 | 905,576 | ||||
General Dynamics Corp. | 4,616 | 1,303,974 | ||||
Genpact Ltd. | 969 | 31,929 | ||||
Globant SA* | 147 | 29,679 | ||||
Goodman Networks, Inc.*^ | 1,490 | — | ||||
Graphic Packaging Holding Co.(a) | 31,782 | 927,399 | ||||
GSK PLC | 91,086 | 1,955,653 | ||||
Guidewire Software, Inc.*(a) | 8,902 | 1,038,952 | ||||
Hayward Holdings, Inc.*(a) | 91,591 | 1,402,258 | ||||
HCA Healthcare, Inc. | 5,211 | 1,738,025 | ||||
HealthEquity, Inc.* | 13,787 | 1,125,433 | ||||
Henry Schein, Inc.*(a) | 15,009 | 1,133,480 | ||||
Hillman Solutions Corp.* | 110,299 | 1,173,581 | ||||
Hilton Worldwide Holdings, Inc. | 41,828 | 8,922,331 | ||||
Home Depot, Inc. (The) | 1,966 | 754,158 | ||||
Honeywell International, Inc. | 39,755 | 8,159,714 | ||||
Howmet Aerospace, Inc. | 16,942 | 1,159,341 | ||||
Hubbell, Inc. | 2,657 | 1,102,788 | ||||
HubSpot, Inc.* | 2,011 | 1,260,012 | ||||
IAC, Inc.* | 18,426 | 982,843 | ||||
ICU Medical, Inc.* | 9,546 | 1,024,477 | ||||
Ingersoll Rand, Inc. | 16,678 | 1,583,576 | ||||
Interactive Brokers Group, Inc. (Class A Stock) | 9,897 | 1,105,594 | ||||
International Business Machines Corp. | 4,516 | 862,375 | ||||
Intuit, Inc. | 6,869 | 4,464,850 | ||||
Intuitive Surgical, Inc.* | 4,795 | 1,913,637 | ||||
ITT, Inc. | 9,060 | 1,232,432 | ||||
J.B. Hunt Transport Services, Inc.(a) | 5,614 | 1,118,590 | ||||
Jabil, Inc.(a) | 5,050 | 676,448 | ||||
Janus International Group, Inc.* | 50,435 | 763,082 | ||||
Johnson & Johnson | 48,757 | 7,712,870 | ||||
Kenvue, Inc. | 37,391 | 802,411 | ||||
Keurig Dr. Pepper, Inc. | 50,255 | 1,541,321 | ||||
Kimco Realty Corp., REIT | 54,812 | 1,074,863 |
A8
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
United States (cont’d.) | ||||||
Kinder Morgan, Inc. | 82,032 | $1,504,467 | ||||
Kinsale Capital Group, Inc.(a) | 1,559 | 818,070 | ||||
KKR & Co., Inc. | 8,043 | 808,965 | ||||
Knight-Swift Transportation Holdings, Inc. | 18,066 | 993,991 | ||||
Kraft Heinz Co. (The) | 31,663 | 1,168,365 | ||||
Laboratory Corp. of America Holdings | 4,868 | 1,063,463 | ||||
Lam Research Corp. | 2,301 | 2,235,583 | ||||
Lamar Advertising Co. (Class A Stock), REIT | 9,162 | 1,094,034 | ||||
Landstar System, Inc.(a) | 6,417 | 1,236,941 | ||||
LCI Industries(a) | 7,255 | 892,800 | ||||
Liberty Broadband Corp. (Class C Stock)* | 8,357 | 478,271 | ||||
Liberty Media Corp.-Liberty Live (Class C Stock)* | 11,188 | 490,258 | ||||
Liberty Media Corp.-Liberty SiriusXM* | 39,318 | 1,168,138 | ||||
Lincoln Electric Holdings, Inc. | 4,277 | 1,092,517 | ||||
Linde PLC | 9,297 | 4,302,241 | ||||
Loews Corp. | 34,501 | 2,701,083 | ||||
Lowe’s Cos., Inc. | 22,810 | 5,810,391 | ||||
Lululemon Athletica, Inc.* | 1,961 | 766,065 | ||||
M&T Bank Corp. | 19,644 | 2,857,023 | ||||
MACOM Technology Solutions Holdings, Inc.* | 18,086 | 1,729,745 | ||||
Marriott International, Inc. (Class A Stock) | 4,990 | 1,259,027 | ||||
Martin Marietta Materials, Inc. | 2,815 | 1,728,241 | ||||
Mastercard, Inc. (Class A Stock) | 54,061 | 26,034,156 | ||||
McDonald’s Corp. | 40,897 | 11,530,909 | ||||
McKesson Corp. | 1,702 | 913,719 | ||||
Medtronic PLC(a) | 23,216 | 2,023,274 | ||||
Merck & Co., Inc. | 8,672 | 1,144,270 | ||||
Meta Platforms, Inc. (Class A Stock) | 59,283 | 28,786,639 | ||||
Mettler-Toledo International, Inc.* | 315 | 419,356 | ||||
MGIC Investment Corp. | 47,251 | 1,056,532 | ||||
Microsoft Corp. | 161,737 | 68,045,991 | ||||
Mid-America Apartment Communities, Inc., REIT | 11,819 | 1,555,144 | ||||
Middleby Corp. (The)* | 3,298 | 530,285 | ||||
Moelis & Co. (Class A Stock)(a) | 9,867 | 560,150 | ||||
Mohawk Industries, Inc.* | 10,529 | 1,378,141 | ||||
Monarch Casino & Resort, Inc. | 9,302 | 697,557 | ||||
Mondelez International, Inc. (Class A Stock) | 67,856 | 4,749,920 | ||||
MongoDB, Inc.*(a) | 1,913 | 686,078 | ||||
Moody’s Corp.(a) | 3,942 | 1,549,324 | ||||
Morgan Stanley | 53,907 | 5,075,883 | ||||
Morningstar, Inc. | 2,667 | 822,423 | ||||
MSA Safety, Inc. | 9,275 | 1,795,547 | ||||
Murphy USA, Inc. | 1,771 | 742,403 | ||||
MYT Holding LLC (Class B Stock)*^ | 92,685 | 41,708 | ||||
Natera, Inc.* | 12,788 | 1,169,590 | ||||
nCino, Inc.* | 25,736 | 962,012 | ||||
Neogen Corp.*(a) | 40,756 | 643,130 | ||||
Nestle SA | 144,066 | 15,307,007 | ||||
Netflix, Inc.* | 3,461 | 2,101,969 | ||||
Newell Brands, Inc. | 54,820 | 440,205 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
United States (cont’d.) | ||||||
Nexstar Media Group, Inc. | 4,421 | $761,694 | ||||
NextEra Energy, Inc. | 119,746 | 7,652,967 | ||||
nLight, Inc.* | 37,471 | 487,123 | ||||
NNN REIT, Inc., REIT(a) | 30,453 | 1,301,561 | ||||
Northern Trust Corp. | 12,955 | 1,151,959 | ||||
Northrop Grumman Corp. | 6,881 | 3,293,659 | ||||
Northwestern Energy Group, Inc. | 13,779 | 701,764 | ||||
Novanta, Inc.*(a) | 9,175 | 1,603,515 | ||||
NVIDIA Corp. | 50,653 | 45,768,025 | ||||
Oracle Corp. | 25,734 | 3,232,448 | ||||
O’Reilly Automotive, Inc.*(a) | 2,839 | 3,204,890 | ||||
Packaging Corp. of America | 8,021 | 1,522,225 | ||||
Palo Alto Networks, Inc.*(a) | 6,218 | 1,766,720 | ||||
Parade Technologies Ltd. | 440 | 12,664 | ||||
Paycor HCM, Inc.*(a) | 41,416 | 805,127 | ||||
Performance Food Group Co.* | 23,849 | 1,780,089 | ||||
Perimeter Solutions SA* | 103,663 | 769,179 | ||||
PG&E Corp. | 187,729 | 3,146,338 | ||||
Philip Morris International, Inc. | 12,057 | 1,104,662 | ||||
Phillips 66 | 11,295 | 1,844,925 | ||||
Planet Fitness, Inc. (Class A Stock)* | 16,496 | 1,033,144 | ||||
PNC Financial Services Group, Inc. (The) | 9,652 | 1,559,763 | ||||
Pool Corp.(a) | 1,371 | 553,199 | ||||
Portland General Electric Co. | 29,352 | 1,232,784 | ||||
Post Holdings, Inc.* | 11,233 | 1,193,843 | ||||
Power Integrations, Inc.(a) | 18,819 | 1,346,499 | ||||
PPG Industries, Inc. | 10,332 | 1,497,107 | ||||
Primo Water Corp. | 66,356 | 1,208,343 | ||||
Procter & Gamble Co. (The) | 9,969 | 1,617,470 | ||||
Progressive Corp. (The) | 54,262 | 11,222,467 | ||||
Progyny, Inc.*(a) | 22,495 | 858,184 | ||||
Prologis, Inc., REIT | 95,564 | 12,444,344 | ||||
Public Service Enterprise Group, Inc. | 76,196 | 5,088,369 | ||||
Public Storage, REIT | 5,933 | 1,720,926 | ||||
Quaker Chemical Corp.(a) | 6,554 | 1,345,209 | ||||
Qualys, Inc.* | 4,958 | 827,341 | ||||
Quanta Services, Inc. | 6,995 | 1,817,301 | ||||
Quest Diagnostics, Inc. | 2,878 | 383,091 | ||||
QuidelOrtho Corp.* | 13,668 | 655,244 | ||||
Ralph Lauren Corp. | 2,762 | 518,593 | ||||
Rayonier, Inc., REIT(a) | 19,269 | 640,502 | ||||
RBC Bearings, Inc.*(a) | 5,431 | 1,468,271 | ||||
Regency Centers Corp., REIT | 16,374 | 991,609 | ||||
Regeneron Pharmaceuticals, Inc.* | 16,049 | 15,447,002 | ||||
Regions Financial Corp. | 63,399 | 1,333,915 | ||||
RLI Corp. | 7,868 | 1,168,162 | ||||
Ross Stores, Inc. | 27,078 | 3,973,967 | ||||
Royalty Pharma PLC (Class A Stock) | 21,027 | 638,590 | ||||
RTX Corp. | 14,613 | 1,425,206 | ||||
Ryman Hospitality Properties, Inc., REIT | 11,343 | 1,311,364 | ||||
Saia, Inc.* | 1,425 | 833,625 | ||||
SAL TopCo LLC*^ | 817,799 | 8,178 | ||||
Salesforce, Inc. | 25,234 | 7,599,976 | ||||
Savers Value Village, Inc.*(a) | 38,954 | 751,033 | ||||
Schneider Electric SE | 5,521 | 1,248,168 | ||||
Seagate Technology Holdings PLC(a) | 10,895 | 1,013,780 |
A9
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
United States (cont’d.) | ||||||
ServisFirst Bancshares, Inc.(a) | 17,060 | $1,132,102 | ||||
Shoals Technologies Group, Inc. (Class A Stock)*(a) | 56,115 | 627,366 | ||||
Silgan Holdings, Inc. | 10,670 | 518,135 | ||||
Simpson Manufacturing Co., Inc. | 7,728 | 1,585,631 | ||||
SM Energy Co.(a) | 21,131 | 1,053,380 | ||||
Snowflake, Inc. (Class A Stock)* | 5,587 | 902,859 | ||||
Southern Co. (The) | 73,091 | 5,243,548 | ||||
State Street Corp. | 17,814 | 1,377,378 | ||||
Stellantis NV | 53,388 | 1,514,992 | ||||
StepStone Group, Inc. (Class A Stock) | 32,313 | 1,154,867 | ||||
Stericycle, Inc.* | 23,653 | 1,247,696 | ||||
Stryker Corp. | 15,456 | 5,531,239 | ||||
Synopsys, Inc.* | 2,064 | 1,179,576 | ||||
Take-Two Interactive Software, Inc.* | 9,055 | 1,344,577 | ||||
TD SYNNEX Corp. | 9,152 | 1,035,091 | ||||
Tesla, Inc.* | 9,106 | 1,600,744 | ||||
Texas Instruments, Inc. | 8,451 | 1,472,249 | ||||
Texas Roadhouse, Inc. | 3,917 | 605,059 | ||||
Thermo Fisher Scientific, Inc. | 2,655 | 1,543,113 | ||||
Timken Co. (The) | 7,824 | 684,052 | ||||
TJX Cos., Inc. (The) | 62,667 | 6,355,687 | ||||
T-Mobile US, Inc. | 4,060 | 662,673 | ||||
Toro Co. (The)(a) | 11,938 | 1,093,879 | ||||
Trade Desk, Inc. (The) (Class A Stock)* | 14,827 | 1,296,176 | ||||
Trane Technologies PLC | 13,600 | 4,082,720 | ||||
Travelers Cos., Inc. (The) | 16,399 | 3,774,066 | ||||
U.S. Bancorp | 47,282 | 2,113,505 | ||||
Uber Technologies, Inc.* | 135,315 | 10,417,902 | ||||
UniFirst Corp. | 5,130 | 889,696 | ||||
Union Pacific Corp. | 5,275 | 1,297,281 | ||||
United Parcel Service, Inc. (Class B Stock) | 3,348 | 497,613 | ||||
UnitedHealth Group, Inc. | 47,534 | 23,515,070 | ||||
Utz Brands, Inc.(a) | 54,970 | 1,013,647 | ||||
Verizon Communications, Inc. | 19,497 | 818,094 | ||||
Verra Mobility Corp.* | 47,195 | 1,178,459 | ||||
Vertex Pharmaceuticals, Inc.* | 4,326 | 1,808,311 | ||||
Vulcan Materials Co. | 9,103 | 2,484,391 | ||||
W.R. Berkley Corp.(a) | 8,951 | 791,626 | ||||
Wells Fargo & Co. | 187,262 | 10,853,706 | ||||
Welltower, Inc., REIT | 3,200 | 299,008 | ||||
Wendy’s Co. (The) | 62,736 | 1,181,946 | ||||
Westrock Co. | 16,168 | 799,508 | ||||
WEX, Inc.*(a) | 6,385 | 1,516,629 | ||||
Weyerhaeuser Co., REIT | 51,307 | 1,842,434 | ||||
Williams Cos., Inc. (The) | 41,475 | 1,616,281 | ||||
WillScot Mobile Mini Holdings Corp.*(a) | 38,953 | 1,811,315 | ||||
Windstream Holdings, Inc.*^ | 66 | 726 | ||||
Wintrust Financial Corp. | 12,598 | 1,315,105 | ||||
Woodward, Inc. | 6,539 | 1,007,791 | ||||
Workday, Inc. (Class A Stock)* | 4,495 | 1,226,011 | ||||
Workiva, Inc.*(a) | 11,510 | 976,048 | ||||
Xcel Energy, Inc. | 11,944 | 641,990 | ||||
Yum! Brands, Inc.(a) | 58,845 | 8,158,859 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
United States (cont’d.) | ||||||
Zimmer Biomet Holdings, Inc. | 6,843 | $903,139 | ||||
947,956,211 | ||||||
Total Common Stocks (cost $1,191,802,337) | 1,418,729,869 | |||||
Preferred Stocks — 0.1% | ||||||
Brazil — 0.1% | ||||||
Banco Bradesco SA (PRFC) | 12,951 | 36,926 | ||||
Cia Energetica de Minas Gerais (PRFC) | 19,110 | 47,933 | ||||
Gerdau SA (PRFC) | 27,962 | 123,770 | ||||
Itausa SA (PRFC) | 55,332 | 115,730 | ||||
Petroleo Brasileiro SA (PRFC) | 70,750 | 528,996 | ||||
853,355 | ||||||
United States — 0.0% | ||||||
Claire’s Stores, Inc., CVT*^ | 279 | 571,950 | ||||
Goodman Networks, Inc.*^ | 1,772 | 18 | ||||
571,968 | ||||||
Total Preferred Stocks (cost $757,923) | 1,425,323 |
Units | |||||
Warrants* — 0.0% | |||||
United States | |||||
Neiman Marcus Group Ltd. LLC/Neiman Marcus Group LLC/Mariposa Borrower/NMG, expiring 09/24/27^ | 917 | 10,546 | |||
(cost $9) |
Interest Rate | Maturity Date | Principal Amount (000)# | ||||
Asset-Backed Securities — 1.2% | ||||||
United States | ||||||
Ally Auto Receivables Trust, | ||||||
Series 2022-03, Class A3 | ||||||
5.070% | 04/15/27 | 1,295 | 1,290,771 | |||
American Express Credit Account Master Trust, | ||||||
Series 2022-02, Class A | ||||||
3.390% | 05/15/27 | 1,250 | 1,224,176 | |||
ARI Fleet Lease Trust, | ||||||
Series 2023-A, Class A2, 144A | ||||||
5.410% | 02/17/32 | 654 | 652,325 | |||
BMW Vehicle Lease Trust, | ||||||
Series 2023-01, Class A3 | ||||||
5.160% | 11/25/25 | 769 | 767,192 | |||
Capital One Prime Auto Receivables Trust, | ||||||
Series 2021-01, Class A3 | ||||||
0.770% | 09/15/26 | 506 | 492,154 | |||
Series 2022-01, Class A3 | ||||||
3.170% | 04/15/27 | 1,278 | 1,252,458 | |||
Series 2022-02, Class A2A | ||||||
3.740% | 09/15/25 | 366 | 364,872 |
A10
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
United States (cont’d.) | |||||||
CarMax Auto Owner Trust, | |||||||
Series 2021-04, Class A3 | |||||||
0.560% | 09/15/26 | 261 | $252,626 | ||||
Series 2022-01, Class A3 | |||||||
1.470% | 12/15/26 | 594 | 578,526 | ||||
Chesapeake Funding II LLC, | |||||||
Series 2023-02A, Class A1, 144A | |||||||
6.160% | 10/15/35 | 506 | 509,056 | ||||
Dell Equipment Finance Trust, | |||||||
Series 2022-01, Class A3, 144A | |||||||
2.490% | 08/23/27 | 483 | 479,599 | ||||
Series 2023-03, Class A2, 144A | |||||||
6.100% | 04/23/29 | 267 | 267,833 | ||||
Discover Card Execution Note Trust, | |||||||
Series 2022-A01, Class A1 | |||||||
1.960% | 02/15/27 | 733 | 711,325 | ||||
Enterprise Fleet Financing LLC, | |||||||
Series 2023-01, Class A2, 144A | |||||||
5.510% | 01/22/29 | 1,058 | 1,057,323 | ||||
Series 2023-02, Class A2, 144A | |||||||
5.560% | 04/22/30 | 962 | 963,112 | ||||
Series 2023-03, Class A2, 144A | |||||||
6.400% | 03/20/30 | 650 | 659,942 | ||||
Ford Credit Auto Owner Trust, | |||||||
Series 2021-A, Class A4 | |||||||
0.490% | 09/15/26 | 324 | 312,339 | ||||
Series 2022-C, Class A3 | |||||||
4.480% | 12/15/26 | 1,310 | 1,299,695 | ||||
Series 2022-D, Class A3 | |||||||
5.270% | 05/17/27 | 533 | 532,678 | ||||
GM Financial Consumer Automobile Receivables Trust, | |||||||
Series 2021-01, Class A4 | |||||||
0.540% | 05/17/27 | 163 | 157,818 | ||||
Series 2021-02, Class A4 | |||||||
0.820% | 10/16/26 | 971 | 928,281 | ||||
Series 2022-01, Class A3 | |||||||
1.260% | 11/16/26 | 869 | 847,225 | ||||
Series 2022-02, Class A3 | |||||||
3.100% | 02/16/27 | 627 | 615,907 | ||||
Honda Auto Receivables Owner Trust, | |||||||
Series 2022-02, Class A3 | |||||||
3.730% | 07/20/26 | 699 | 689,223 | ||||
Hyundai Auto Receivables Trust, | |||||||
Series 2020-C, Class A4 | |||||||
0.490% | 11/16/26 | 557 | 548,215 | ||||
Series 2021-C, Class A3 | |||||||
0.740% | 05/15/26 | 346 | 338,732 | ||||
Series 2022-B, Class A3 | |||||||
3.720% | 11/16/26 | 1,856 | 1,831,052 | ||||
Mercedes-Benz Auto Receivables Trust, | |||||||
Series 2022-01, Class A3 | |||||||
5.210% | 08/16/27 | 1,490 | 1,488,420 | ||||
Tesla Auto Lease Trust, | |||||||
Series 2023-A, Class A2, 144A | |||||||
5.860% | 08/20/25 | 1,270 | 1,271,603 | ||||
Series 2023-B, Class A2, 144A | |||||||
6.020% | 09/22/25 | 438 | 439,491 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
United States (cont’d.) | |||||||
Toyota Auto Receivables Owner Trust, | |||||||
Series 2022-A, Class A3 | |||||||
1.230% | 06/15/26 | 923 | $899,808 | ||||
Series 2022-B, Class A3 | |||||||
2.930% | 09/15/26 | 418 | 410,964 | ||||
Toyota Lease Owner Trust, | |||||||
Series 2023-A, Class A2, 144A | |||||||
5.300% | 08/20/25 | 999 | 997,757 | ||||
Verizon Master Trust, | |||||||
Series 2022-02, Class A | |||||||
1.530% | 07/20/28 | 1,400 | 1,356,103 | ||||
Series 2024-01, Class A1A | |||||||
5.000% | 12/20/28 | 492 | 490,503 | ||||
Volkswagen Auto Loan Enhanced Trust, | |||||||
Series 2023-02, Class A2A | |||||||
5.720% | 03/22/27 | 840 | 842,055 | ||||
World Omni Auto Receivables Trust, | |||||||
Series 2021-A, Class A4 | |||||||
0.480% | 09/15/26 | 110 | 105,262 | ||||
Total Asset-Backed Securities (cost $27,889,136) | 27,926,421 | ||||||
Commercial Mortgage-Backed Security — 0.0% | |||||||
United States | |||||||
LB-UBS Commercial Mortgage Trust, | |||||||
Series 2006-C06, Class AJ | |||||||
5.452%(cc) | 09/15/39 | 540 | 205,499 | ||||
(cost $529,692) | |||||||
Corporate Bonds — 3.1% | |||||||
Australia — 0.0% | |||||||
Glencore Funding LLC, | |||||||
Gtd. Notes, 144A | |||||||
4.625% | 04/29/24 | 976 | 974,597 | ||||
Germany — 0.1% | |||||||
BMW US Capital LLC, | |||||||
Gtd. Notes, 144A, SOFR Index + 0.380% | |||||||
5.734%(c) | 08/12/24 | 1,724 | 1,724,339 | ||||
Gtd. Notes, 144A, SOFR Index + 0.550% | |||||||
5.916%(c) | 04/02/26 | 646 | 646,057 | ||||
Daimler Truck Finance North America LLC, | |||||||
Gtd. Notes, 144A | |||||||
3.500% | 04/07/25 | 1,015 | 993,948 | ||||
3,364,344 | |||||||
United Kingdom — 0.1% | |||||||
Astrazeneca Finance LLC, | |||||||
Gtd. Notes | |||||||
0.700% | 05/28/24 | 1,356 | 1,345,903 | ||||
United States — 2.9% | |||||||
AbbVie, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.800% | 03/15/25 | 615 | 606,381 | ||||
3.850% | 06/15/24 | 1,065 | 1,061,015 | ||||
Ameren Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.500% | 09/15/24 | 1,018 | 1,002,593 |
A11
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
United States (cont’d.) | |||||||
American Express Co., | |||||||
Sr. Unsec’d. Notes | |||||||
3.000% | 10/30/24 | 689 | $679,009 | ||||
3.375% | 05/03/24 | 500 | 499,002 | ||||
American Honda Finance Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.150% | 09/10/24(a) | 1,358 | 1,337,927 | ||||
Amgen, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.625% | 05/22/24 | 660 | 658,076 | ||||
Apple, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.850% | 05/11/24(a) | 1,454 | 1,448,947 | ||||
Athene Global Funding, | |||||||
Sec’d. Notes, 144A | |||||||
0.914% | 08/19/24 | 281 | 275,688 | ||||
AutoZone, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.125% | 04/18/24 | 659 | 657,829 | ||||
Bank of America Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.841%(ff) | 04/25/25 | 217 | 216,713 | ||||
Bank of New York Mellon (The), | |||||||
Sr. Unsec’d. Notes, MTN, SOFR + 0.450% | |||||||
5.812%(c) | 03/13/26 | 376 | 376,273 | ||||
Bank of New York Mellon Corp. (The), | |||||||
Sr. Unsec’d. Notes, SOFR + 0.620% (Cap N/A, Floor 0.000%) | |||||||
5.971%(c) | 04/25/25 | 836 | 838,704 | ||||
Becton, Dickinson & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
3.363% | 06/06/24(a) | 663 | 660,120 | ||||
Cardinal Health, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.079% | 06/15/24(a) | 656 | 652,219 | ||||
Cargill, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.500% | 04/22/25 | 161 | 158,120 | ||||
Caterpillar Financial Services Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.850% | 05/17/24 | 929 | 925,421 | ||||
Sr. Unsec’d. Notes, MTN, SOFR + 0.450% | |||||||
5.803%(c) | 11/14/24 | 566 | 566,335 | ||||
Cencora, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.400% | 05/15/24 | 990 | 987,018 | ||||
CenterPoint Energy, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.500% | 09/01/24(a) | 677 | 667,535 | ||||
Cigna Group (The), | |||||||
Gtd. Notes | |||||||
3.500% | 06/15/24(a) | 651 | 647,806 | ||||
Citigroup, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
0.981%(ff) | 05/01/25 | 470 | 467,948 | ||||
2.014%(ff) | 01/25/26 | 354 | 343,179 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
United States (cont’d.) | |||||||
Citizens Bank NA, | |||||||
Sr. Unsec’d. Notes | |||||||
5.284%(ff) | 01/26/26 | 793 | $780,771 | ||||
Cleveland Electric Illuminating Co. (The), | |||||||
First Mortgage | |||||||
5.500% | 08/15/24 | 656 | 654,629 | ||||
CNA Financial Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.950% | 05/15/24(a) | 949 | 946,848 | ||||
Commonwealth Edison Co., | |||||||
First Mortgage | |||||||
3.100% | 11/01/24 | 390 | 384,155 | ||||
Corebridge Global Funding, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.750% | 07/02/26 | 173 | 173,289 | ||||
Cox Communications, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.150% | 08/15/24 | 672 | 664,779 | ||||
CSX Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.400% | 08/01/24(a) | 1,000 | 992,712 | ||||
CVS Health Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.625% | 08/15/24 | 675 | 667,440 | ||||
Dell International LLC/EMC Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 07/15/24 | 528 | 525,196 | ||||
Dollar General Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.250% | 09/20/24(a) | 652 | 647,326 | ||||
DTE Energy Co., | |||||||
Sr. Unsec’d. Notes, Series C | |||||||
2.529%(c) | 10/01/24 | 681 | 669,783 | ||||
Eastern Energy Gas Holdings LLC, | |||||||
Sr. Unsec’d. Notes, Series A | |||||||
2.500% | 11/15/24 | 719 | 705,391 | ||||
Elevance Health, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.500% | 08/15/24 | 668 | 662,589 | ||||
Enterprise Products Operating LLC, | |||||||
Gtd. Notes | |||||||
4.600% | 01/11/27 | 416 | 413,587 | ||||
Eversource Energy, | |||||||
Sr. Unsec’d. Notes, Series L | |||||||
2.900% | 10/01/24 | 1,016 | 1,001,183 | ||||
Exelon Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.950% | 06/15/25 | 203 | 199,283 | ||||
F&G Global Funding, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
0.900% | 09/20/24 | 410 | 400,091 | ||||
Fiserv, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.750% | 07/01/24 | 500 | 496,304 |
A12
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
United States (cont’d.) | |||||||
Georgia-Pacific LLC, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
0.625% | 05/15/24(a) | 978 | $972,143 | ||||
Gilead Sciences, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.700% | 04/01/24(a) | 1,307 | 1,307,000 | ||||
Goldman Sachs Bank USA, | |||||||
Sr. Unsec’d. Notes, SOFR + 0.770% | |||||||
6.133%(c) | 03/18/27 | 498 | 497,837 | ||||
Healthpeak OP LLC, | |||||||
Gtd. Notes | |||||||
3.400% | 02/01/25 | 788 | 772,870 | ||||
Hewlett Packard Enterprise Co., | |||||||
Sr. Unsec’d. Notes | |||||||
1.450% | 04/01/24(a) | 294 | 294,000 | ||||
5.900% | 10/01/24(a) | 356 | 356,357 | ||||
Hormel Foods Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
0.650% | 06/03/24 | 1,357 | 1,345,440 | ||||
HSBC USA, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.500% | 06/23/24(a) | 890 | 885,248 | ||||
Hyundai Capital America, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.800% | 06/26/25 | 700 | 701,175 | ||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
0.875% | 06/14/24 | 289 | 286,074 | ||||
ITC Holdings Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 06/15/24 | 418 | 415,920 | ||||
Jackson National Life Global Funding, | |||||||
Sec’d. Notes, 144A, SOFR + 1.150% | |||||||
6.516%(c) | 06/28/24 | 654 | 654,920 | ||||
Jersey Central Power & Light Co., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.700% | 04/01/24 | 300 | 300,000 | ||||
John Deere Capital Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
4.950% | 06/06/25 | 128 | 127,870 | ||||
Johnson Controls International PLC, | |||||||
Sr. Unsec’d. Notes | |||||||
3.625%(c) | 07/02/24 | 510 | 507,456 | ||||
Lowe’s Cos., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.125% | 09/15/24 | 1,011 | 999,389 | ||||
Marriott International, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.600% | 04/15/24 | 667 | 666,415 | ||||
Martin Marietta Materials, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.250% | 07/02/24 | 659 | 656,242 | ||||
MassMutual Global Funding II, | |||||||
Sec’d. Notes, 144A, SOFR + 0.870% | |||||||
6.234%(c) | 03/21/25 | 986 | 990,176 | ||||
Sr. Sec’d. Notes, 144A | |||||||
2.750% | 06/22/24 | 246 | 244,333 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
United States (cont’d.) | |||||||
McCormick & Co., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.150% | 08/15/24 | 670 | $663,445 | ||||
McDonald’s Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
3.250% | 06/10/24 | 993 | 988,114 | ||||
MetLife, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.600% | 04/10/24(a) | 1,309 | 1,308,408 | ||||
MidAmerican Energy Co., | |||||||
First Mortgage | |||||||
3.500% | 10/15/24 | 219 | 216,658 | ||||
Morgan Stanley, | |||||||
Sr. Unsec’d. Notes | |||||||
3.620%(ff) | 04/17/25 | 585 | 584,415 | ||||
Sr. Unsec’d. Notes, Series F, MTN | |||||||
3.875% | 04/29/24 | 751 | 749,936 | ||||
NextEra Energy Capital Holdings, Inc., | |||||||
Gtd. Notes | |||||||
4.255% | 09/01/24 | 990 | 983,745 | ||||
Niagara Mohawk Power Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.508% | 10/01/24 | 170 | 167,800 | ||||
Omnicom Group, Inc./Omnicom Capital, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 11/01/24 | 1,014 | 1,001,456 | ||||
Oncor Electric Delivery Co. LLC, | |||||||
Sr. Sec’d. Notes | |||||||
2.750% | 06/01/24 | 665 | 661,475 | ||||
Oracle Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.400% | 07/08/24 | 649 | 644,766 | ||||
Otis Worldwide Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.056% | 04/05/25 | 690 | 667,148 | ||||
Pacific Life Global Funding II, | |||||||
Sec’d. Notes, 144A, SOFR + 0.600% (Cap N/A, Floor 0.000%) | |||||||
5.963%(c) | 03/27/26 | 428 | 427,759 | ||||
Parker-Hannifin Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 06/15/24 | 661 | 658,070 | ||||
PayPal Holdings, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.400% | 10/01/24 | 1,359 | 1,338,982 | ||||
Penske Truck Leasing Co. LP/PTL Finance Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.700% | 11/01/24 | 579 | 568,563 | ||||
PepsiCo, Inc., | |||||||
Sr. Unsec’d. Notes, SOFR Index + 0.400% | |||||||
5.754%(c) | 11/12/24 | 179 | 179,119 | ||||
Phillips 66, | |||||||
Gtd. Notes | |||||||
3.850% | 04/09/25 | 363 | 357,506 | ||||
Principal Life Global Funding II, | |||||||
Sec’d. Notes, 144A, SOFR + 0.450% | |||||||
5.799%(c) | 04/12/24 | 408 | 407,900 |
A13
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
United States (cont’d.) | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.000% | 01/16/27 | 93 | $93,058 | ||||
Public Service Enterprise Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.875% | 06/15/24 | 666 | 661,701 | ||||
Republic Services, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.500% | 08/15/24 | 1,012 | 1,000,236 | ||||
Roper Technologies, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.350% | 09/15/24 | 678 | 667,488 | ||||
Schlumberger Holdings Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.750% | 05/01/24 | 1,312 | 1,309,145 | ||||
Sherwin-Williams Co. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
3.125% | 06/01/24 | 663 | 659,811 | ||||
Sonoco Products Co., | |||||||
Sr. Unsec’d. Notes | |||||||
1.800% | 02/01/25 | 696 | 673,617 | ||||
Southwestern Public Service Co., | |||||||
First Mortgage | |||||||
3.300% | 06/15/24(a) | 504 | 500,869 | ||||
State Street Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
4.857%(ff) | 01/26/26 | 1,150 | 1,143,356 | ||||
Stryker Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.375% | 05/15/24 | 801 | 798,714 | ||||
Sysco Corp., | |||||||
Gtd. Notes | |||||||
3.750% | 10/01/25 | 674 | 657,739 | ||||
Take-Two Interactive Software, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.550% | 04/14/25 | 617 | 605,425 | ||||
Tampa Electric Co., | |||||||
Sr. Unsec’d. Notes | |||||||
3.875% | 07/12/24 | 331 | 329,042 | ||||
Thermo Fisher Scientific, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.215% | 10/18/24 | 1,378 | 1,346,359 | ||||
Toyota Motor Credit Corp., | |||||||
Sr. Unsec’d. Notes, MTN, SOFR + 0.620% (Cap N/A, Floor 0.000%) | |||||||
5.950%(c) | 06/13/24(a) | 1,295 | 1,296,229 | ||||
Ventas Realty LP, | |||||||
Gtd. Notes | |||||||
2.650% | 01/15/25 | 434 | 423,222 | ||||
Verizon Communications, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.376% | 02/15/25(a) | 581 | 570,478 | ||||
Westlake Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
0.875% | 08/15/24 | 686 | 673,409 | ||||
Williams Cos., Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
4.550% | 06/24/24(a) | 281 | 280,267 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
United States (cont’d.) | |||||||
WP Carey, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.600% | 04/01/24 | 277 | $277,000 | ||||
Zoetis, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.400% | 11/14/25 | 835 | 836,319 | ||||
67,078,828 | |||||||
Total Corporate Bonds (cost $72,795,700) | 72,763,672 | ||||||
Floating Rate and Other Loans — 0.0% | |||||||
United States | |||||||
Claire’s Stores, Inc., | |||||||
Term B Loan, 1 Month SOFR + 6.600% | |||||||
11.930%(c) | 12/18/26^ | 532 | 507,765 | ||||
Moran Foods LLC, | |||||||
First Lien A R 2023 FLFO Term Loan, 3 Month SOFR + 12.659% (Cap N/A , Floor 0.000%) | |||||||
12.659%(c) | 06/30/26^ | 122 | 73,077 | ||||
First Lien A R 2023 FLFO Term Loan, 3 Month SOFR + 2.000% | |||||||
12.659%(c) | 06/30/26^ | 181 | 151,498 | ||||
Super Senior DDTL | |||||||
—%(p) | 06/30/26^ | 5 | 5,204 | ||||
Total Floating Rate and Other Loans (cost $750,665) | 737,544 | ||||||
U.S. Government Agency Obligation — 0.1% | |||||||
Federal Home Loan Bank | |||||||
4.875% | 06/14/24 | 3,750 | 3,745,260 | ||||
(cost $3,747,886) | |||||||
U.S. Treasury Obligations — 1.6% | |||||||
U.S. Treasury Notes | |||||||
0.375% | 07/15/24 | 800 | 788,719 | ||||
4.125% | 01/31/25(k) | 36,913 | 36,610,198 | ||||
4.625% | 11/15/26 | 1,300 | 1,304,469 | ||||
Total U.S. Treasury Obligations (cost $38,818,087) | 38,703,386 | ||||||
Total Long-Term Investments (cost $1,938,565,326) | 2,184,290,675 |
Shares | |||||
Short-Term Investments — 11.0% | |||||
Affiliated Mutual Funds — 9.9% | |||||
PGIM Core Ultra Short Bond Fund(wa) | 149,176,755 | 149,176,755 | |||
PGIM Institutional Money Market Fund (7-day effective yield 5.664%) (cost $83,131,769; includes $82,773,355 of cash collateral for securities on loan)(b)(wa) | 83,163,690 | 83,122,108 | |||
Total Affiliated Mutual Funds (cost $232,308,524) | 232,298,863 |
A14
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Certificates of Deposit — 0.1% | |||||||
Bank of America NA | |||||||
5.800% | 05/24/24 | 345 | $345,055 | ||||
Northern Trust Co. (The) | |||||||
5.400% | 09/20/24 | 1,300 | 1,299,683 | ||||
Wells Fargo Bank NA | |||||||
SOFR + 0.600% (Cap N/A, Floor 0.000%) | |||||||
5.930%(c) | 08/02/24 | 898 | 899,327 | ||||
Total Certificates of Deposit (cost $2,543,000) | 2,544,065 | ||||||
Commercial Paper(n) — 0.8% | |||||||
American Electric Power Co., Inc. | |||||||
5.639% | 05/20/24 | 650 | 644,658 | ||||
Brighthouse Financial, Inc. | |||||||
5.936% | 05/29/24 | 1,271 | 1,259,213 | ||||
Coca-Cola Co. (The) | |||||||
5.376% | 05/21/24 | 2,250 | 2,232,227 | ||||
CRH America Finance, Inc. | |||||||
5.639% | 06/03/24 | 1,000 | 989,592 | ||||
Dominion Energy South Carolina, Inc. | |||||||
5.602% | 04/24/24 | 1,350 | 1,344,344 | ||||
EIDP, Inc. | |||||||
5.564% | 09/18/24 | 1,300 | 1,265,919 | ||||
General Motors Financial Co., Inc. | |||||||
5.686% | 08/09/24 | 700 | 685,249 | ||||
Intel Corp. | |||||||
5.484% | 06/25/24 | 1,350 | 1,331,461 | ||||
L3Harris Technologies, Inc. | |||||||
5.867% | 05/20/24 | 650 | 644,688 | ||||
Microsoft Corp. | |||||||
5.494% | 05/23/24 | 1,300 | 1,289,305 | ||||
OGE Energy Corp. | |||||||
5.560% | 04/05/24 | 1,000 | 998,792 | ||||
ONE Gas, Inc. | |||||||
5.627% | 04/22/24 | 600 | 597,662 | ||||
Pacific Life Insurance Co. | |||||||
5.846% | 06/10/24 | 1,238 | 1,224,397 | ||||
Thunder Bay Funding LLC | |||||||
5.782% | 06/12/24 | 1,300 | 1,285,303 | ||||
VW Credit, Inc. | |||||||
5.956% | 04/17/24 | 1,000 | 996,943 | ||||
Walt Disney Co. (The) | |||||||
5.744% | 05/01/24 | 1,300 | 1,293,339 | ||||
Total Commercial Paper (cost $18,093,461) | 18,083,092 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Treasury Obligation(n) — 0.2% | |||||||
U.S. Treasury Bills | |||||||
5.148% | 05/16/24 | 5,250 | $5,215,723 | ||||
(cost $5,217,837) | |||||||
Total Short-Term Investments (cost $258,162,822) | 258,141,743 | ||||||
TOTAL INVESTMENTS—103.6% (cost $2,196,728,148) | 2,442,432,418 | ||||||
Liabilities in excess of other assets(z) — (3.6)% | (84,440,395) | ||||||
Net Assets — 100.0% | $2,357,992,023 |
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 |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound |
HKD | Hong Kong Dollar |
JPY | Japanese Yen |
NOK | Norwegian Krone |
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. |
ADR | American Depositary Receipt |
ASX | Australian Securities Exchange |
BARC | Barclays Bank PLC |
BATE | CBOE- Europe – BXE Order Books |
BOA | Bank of America, N.A. |
CITI | Citibank, N.A. |
CVT | Convertible Security |
DJ | Dow Jones |
EAFE | Europe, Australasia, Far East |
FTSE | Financial Times Stock Exchange |
GDR | Global Depositary Receipt |
LP | Limited Partnership |
ML | Merrill Lynch International |
MSCI | Morgan Stanley Capital International |
MTN | Medium Term Note |
NVDR | Non-voting Depositary Receipt |
NYSE | New York Stock Exchange |
OOTC | OTC Bulletin Board – Other OTC |
OTC | Over-the-counter |
PJSC | Public Joint-Stock Company |
PRFC | Preference Shares |
RBC | Royal Bank of Canada |
S&P | Standard & Poor’s |
SOFR | Secured Overnight Financing Rate |
SPI | Share Price Index |
SSB | State Street Bank & Trust Company |
A15
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
STOXX | Stock Index of the Eurozone |
TD | The Toronto-Dominion Bank |
TOPIX | Tokyo Stock Price Index |
UTS | Unit Trust Security |
XAMS | Amsterdam Stock Exchange |
XHKG | Hong Kong Stock Exchange |
XLON | London Stock Exchange |
* | Non-income producing security. |
# | Principal amount is shown in U.S. dollars unless otherwise stated. |
^ | Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $1,404,322 and 0.1% 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 $81,132,815; cash collateral of $82,773,355 (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, 2024. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2024. 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. |
(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. |
(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. |
(p) | Represents a security with a delayed settlement and therefore the interest rate is not available until settlement which is after the period end. |
(wa) | Represents investments in Funds 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 Positions: | ||||||||
519 | 5 Year U.S. Treasury Notes | Jun. 2024 | $55,541,112 | $157,096 | ||||
971 | 10 Year U.S. Treasury Notes | Jun. 2024 | 107,583,770 | 635,180 | ||||
184 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2024 | 23,736,000 | 439,345 | ||||
328 | DJ US Real Estate Index | Jun. 2024 | 11,420,960 | (108,994) | ||||
14 | Euro STOXX 50 Index | Jun. 2024 | 761,992 | 16,216 | ||||
3 | FTSE 100 Index | Jun. 2024 | 302,462 | 8,492 | ||||
226 | Mini MSCI EAFE Index | Jun. 2024 | 26,635,230 | 21,632 | ||||
1,117 | Mini MSCI Emerging Markets Index | Jun. 2024 | 58,586,650 | (53,625) | ||||
497 | S&P 500 E-Mini Index | Jun. 2024 | 131,916,225 | 2,058,109 | ||||
113 | S&P E-Mini Consumer Services Index | Jun. 2024 | 12,213,888 | 205,997 | ||||
582 | TOPIX Index | Jun. 2024 | 105,708,086 | 1,177,292 | ||||
239 | XAE Energy Index | Jun. 2024 | 23,909,560 | 4,058 | ||||
361 | XAF Financial Index | Jun. 2024 | 47,439,913 | 874,560 | ||||
196 | XAI E-Mini Industrial Index | Jun. 2024 | 25,184,040 | 585,644 | ||||
55 | XAK Technology Index | Jun. 2024 | 11,697,400 | (130,186) | ||||
5,890,816 | ||||||||
Short Positions: | ||||||||
181 | ASX SPI 200 Index | Jun. 2024 | 23,445,243 | (619,437) | ||||
1,013 | Russell 2000 E-Mini Index | Jun. 2024 | 108,689,835 | (1,752,033) | ||||
229 | XAB Materials Index | Jun. 2024 | 22,815,270 | (728,682) | ||||
311 | XAP Consumer Staples Index | Jun. 2024 | 24,205,130 | (513,150) | ||||
336 | XAU Utilities Index | Jun. 2024 | 22,468,320 | (825,559) | ||||
(4,438,861) | ||||||||
$1,451,955 |
A16
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Forward foreign currency exchange contracts outstanding at March 31, 2024:
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 04/29/24 | RBC | AUD | 13,187 | $8,721,130 | $8,600,805 | $— | $(120,325) | ||||||
British Pound, | |||||||||||||
Expiring 04/29/24 | BARC | GBP | 1,965 | 2,492,609 | 2,480,673 | — | (11,936) | ||||||
Expiring 04/29/24 | CITI | GBP | 720 | 920,295 | 909,388 | — | (10,907) | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/29/24 | RBC | CAD | 19,344 | 14,398,775 | 14,287,079 | — | (111,696) | ||||||
Danish Krone, | |||||||||||||
Expiring 04/29/24 | RBC | DKK | 13,259 | 1,929,334 | 1,920,736 | — | (8,598) | ||||||
Euro, | |||||||||||||
Expiring 04/29/24 | BARC | EUR | 1,648 | 1,791,576 | 1,779,937 | — | (11,639) | ||||||
Expiring 04/29/24 | BARC | EUR | 1,298 | 1,411,850 | 1,401,934 | — | (9,916) | ||||||
Expiring 04/29/24 | BOA | EUR | 7,782 | 8,498,630 | 8,405,704 | — | (92,926) | ||||||
Expiring 04/29/24 | RBC | EUR | 1,865 | 2,025,755 | 2,014,462 | — | (11,293) | ||||||
Hong Kong Dollar, | |||||||||||||
Expiring 04/02/24 | CITI | HKD | 23 | 2,918 | 2,917 | — | (1) | ||||||
Japanese Yen, | |||||||||||||
Expiring 04/22/24 | CITI | JPY | 6,903,402 | 46,964,072 | 45,772,093 | — | (1,191,979) | ||||||
Expiring 04/30/24 | CITI | JPY | 378,138 | 2,561,650 | 2,510,236 | — | (51,414) | ||||||
Expiring 04/30/24 | CITI | JPY | 157,653 | 1,045,507 | 1,046,562 | 1,055 | — | ||||||
Expiring 04/30/24 | TD | JPY | 2,519,868 | 17,326,943 | 16,727,915 | — | (599,028) | ||||||
Norwegian Krone, | |||||||||||||
Expiring 04/29/24 | CITI | NOK | 5,389 | 515,596 | 496,764 | — | (18,832) | ||||||
Swedish Krona, | |||||||||||||
Expiring 04/22/24 | CITI | SEK | 239,318 | 23,536,599 | 22,379,472 | — | (1,157,127) | ||||||
Expiring 04/29/24 | CITI | SEK | 6,641 | 637,389 | 621,211 | — | (16,178) | ||||||
Expiring 04/29/24 | ML | SEK | 8,085 | 755,477 | 756,285 | 808 | — | ||||||
Expiring 04/29/24 | RBC | SEK | 864 | 83,174 | 80,849 | — | (2,325) | ||||||
Expiring 04/29/24 | SSB | SEK | 16,584 | 1,600,282 | 1,551,257 | — | (49,025) | ||||||
Expiring 04/29/24 | SSB | SEK | 11,128 | 1,070,817 | 1,040,908 | — | (29,909) | ||||||
Expiring 04/29/24 | SSB | SEK | 7,905 | 760,678 | 739,420 | — | (21,258) | ||||||
Swiss Franc, | |||||||||||||
Expiring 04/29/24 | BARC | CHF | 681 | 779,706 | 757,819 | — | (21,887) | ||||||
Expiring 04/29/24 | BOA | CHF | 527 | 603,111 | 586,497 | — | (16,614) | ||||||
Expiring 04/29/24 | CITI | CHF | 484 | 551,167 | 538,973 | — | (12,194) | ||||||
Expiring 04/29/24 | ML | CHF | 371 | 431,107 | 412,357 | — | (18,750) | ||||||
Expiring 04/29/24 | RBC | CHF | 487 | 539,146 | 542,168 | 3,022 | — | ||||||
Expiring 04/29/24 | SSB | CHF | 940 | 1,097,069 | 1,045,818 | — | (51,251) | ||||||
$143,052,362 | $139,410,239 | 4,885 | (3,647,008) |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
British Pound, | |||||||||||||
Expiring 04/29/24 | BARC | GBP | 2,074 | $2,644,354 | $2,618,560 | $25,794 | $— | ||||||
Expiring 04/29/24 | BARC | GBP | 1,100 | 1,388,821 | 1,388,927 | — | (106) | ||||||
Canadian Dollar, | |||||||||||||
Expiring 04/22/24 | CITI | CAD | 32,350 | 24,060,867 | 23,890,695 | 170,172 | — | ||||||
Expiring 04/22/24 | CITI | CAD | 31,015 | 23,034,608 | 22,904,911 | 129,697 | — | ||||||
Danish Krone, | |||||||||||||
Expiring 04/29/24 | ML | DKK | 37,362 | 5,481,293 | 5,412,394 | 68,899 | — | ||||||
Euro, | |||||||||||||
Expiring 04/29/24 | BOA | EUR | 2,626 | 2,880,888 | 2,836,575 | 44,313 | — | ||||||
Expiring 04/29/24 | CITI | EUR | 985 | 1,068,012 | 1,063,920 | 4,092 | — | ||||||
Expiring 04/29/24 | CITI | EUR | 575 | 629,817 | 620,650 | 9,167 | — |
A17
AST J.P. MORGAN GLOBAL THEMATIC PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Forward foreign currency exchange contracts outstanding at March 31, 2024 (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.): | |||||||||||||
Euro (cont’d.), | |||||||||||||
Expiring 04/29/24 | SSB | EUR | 7,110 | $7,767,219 | $7,680,051 | $87,168 | $— | ||||||
Expiring 04/29/24 | SSB | EUR | 2,539 | 2,770,591 | 2,742,320 | 28,271 | — | ||||||
Expiring 04/29/24 | SSB | EUR | 868 | 944,259 | 937,460 | 6,799 | — | ||||||
Expiring 04/29/24 | SSB | EUR | 773 | 843,144 | 835,103 | 8,041 | — | ||||||
Expiring 04/29/24 | SSB | EUR | 764 | 827,175 | 825,025 | 2,150 | — | ||||||
Expiring 04/29/24 | SSB | EUR | 639 | 686,642 | 690,755 | — | (4,113) | ||||||
Hong Kong Dollar, | |||||||||||||
Expiring 04/29/24 | BOA | HKD | 6,044 | 773,502 | 772,935 | 567 | — | ||||||
Expiring 04/29/24 | CITI | HKD | 17,541 | 2,248,671 | 2,243,463 | 5,208 | — | ||||||
Japanese Yen, | |||||||||||||
Expiring 04/30/24 | SSB | JPY | 156,220 | 1,063,955 | 1,037,050 | 26,905 | — | ||||||
New Zealand Dollar, | |||||||||||||
Expiring 04/22/24 | CITI | NZD | 38,162 | 22,940,695 | 22,800,763 | 139,932 | — | ||||||
Norwegian Krone, | |||||||||||||
Expiring 04/29/24 | BOA | NOK | 5,389 | 512,664 | 496,764 | 15,900 | — | ||||||
Singapore Dollar, | |||||||||||||
Expiring 04/29/24 | SSB | SGD | 3,005 | 2,254,390 | 2,228,441 | 25,949 | — | ||||||
Swedish Krona, | |||||||||||||
Expiring 04/29/24 | CITI | SEK | 31,994 | 3,078,282 | 2,992,736 | 85,546 | — | ||||||
Swiss Franc, | |||||||||||||
Expiring 04/22/24 | CITI | CHF | 40,477 | 46,206,605 | 45,003,291 | 1,203,314 | — | ||||||
Expiring 04/22/24 | CITI | CHF | 21,126 | 24,237,515 | 23,487,738 | 749,777 | — | ||||||
Expiring 04/29/24 | CITI | CHF | 1,237 | 1,439,013 | 1,376,686 | 62,327 | — | ||||||
Expiring 04/29/24 | RBC | CHF | 1,782 | 2,026,054 | 1,982,791 | 43,263 | — | ||||||
Expiring 04/29/24 | RBC | CHF | 665 | 776,052 | 740,025 | 36,027 | — | ||||||
Expiring 04/29/24 | RBC | CHF | 645 | 757,848 | 718,150 | 39,698 | — | ||||||
Expiring 04/29/24 | RBC | CHF | 475 | 542,628 | 527,990 | 14,638 | — | ||||||
Expiring 04/29/24 | SSB | CHF | 741 | 849,210 | 824,135 | 25,075 | — | ||||||
Expiring 04/29/24 | SSB | CHF | 723 | 838,601 | 804,526 | 34,075 | — | ||||||
Expiring 04/29/24 | SSB | CHF | 445 | 509,684 | 495,600 | 14,084 | — | ||||||
$186,083,059 | $182,980,430 | 3,106,848 | (4,219) | ||||||||||
$3,111,733 | $(3,651,227) |
Cross currency exchange contracts outstanding at March 31, 2024: | ||||||||||||||
Settlement | Type | Notional Amount (000) | In Exchange For (000) | Unrealized Appreciation | Unrealized Depreciation | Counterparty | ||||||||
OTC Cross Currency Exchange Contracts: | ||||||||||||||
04/22/24 | Buy | AUD | 36,017 | EUR | 21,711 | $40,655 | $— | CITI | ||||||
04/22/24 | Buy | NOK | 252,535 | EUR | 21,711 | — | (170,373) | BARC | ||||||
04/22/24 | Buy | NZD | 38,162 | CAD | 31,774 | — | (664,556) | CITI | ||||||
$40,655 | $(834,929) |
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).
A18