AST MID-CAP VALUE PORTFOLIO
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Long-Term Investments — 98.8% | ||||||
Common Stocks — 95.8% | ||||||
Aerospace & Defense — 1.5% | ||||||
Howmet Aerospace, Inc. | 49,820 | $3,409,183 | ||||
L3Harris Technologies, Inc. | 9,330 | 1,988,223 | ||||
Textron, Inc. | 45,500 | 4,364,815 | ||||
9,762,221 | ||||||
Automobile Components — 2.2% | ||||||
Aptiv PLC* | 56,146 | 4,472,029 | ||||
BorgWarner, Inc.(a) | 109,000 | 3,786,660 | ||||
Gentex Corp.(a) | 100,885 | 3,643,966 | ||||
Goodyear Tire & Rubber Co. (The)* | 188,844 | 2,592,828 | ||||
14,495,483 | ||||||
Banks — 3.9% | ||||||
Cadence Bank | 138,480 | 4,015,920 | ||||
Columbia Banking System, Inc. | 55,756 | 1,078,879 | ||||
East West Bancorp, Inc.(a) | 27,967 | 2,212,469 | ||||
Huntington Bancshares, Inc. | 132,000 | 1,841,400 | ||||
M&T Bank Corp. | 44,243 | 6,434,702 | ||||
Prosperity Bancshares, Inc. | 62,687 | 4,123,551 | ||||
Regions Financial Corp. | 100,507 | 2,114,667 | ||||
SouthState Corp.(a) | 45,561 | 3,874,052 | ||||
25,695,640 | ||||||
Beverages — 0.3% | ||||||
Coca-Cola Europacific Partners PLC (United Kingdom) | 27,755 | 1,941,462 | ||||
Biotechnology — 0.2% | ||||||
Biogen, Inc.* | 5,471 | 1,179,712 | ||||
Broadline Retail — 0.4% | ||||||
eBay, Inc. | 54,300 | 2,865,954 | ||||
Building Products — 2.2% | ||||||
Allegion PLC | 14,888 | 2,005,563 | ||||
Builders FirstSource, Inc.* | 11,613 | 2,421,891 | ||||
Carrier Global Corp. | 34,000 | 1,976,420 | ||||
Fortune Brands Innovations, Inc. | 40,737 | 3,449,202 | ||||
Johnson Controls International PLC | 41,840 | 2,732,989 | ||||
Masco Corp. | 27,097 | 2,137,411 | ||||
14,723,476 | ||||||
Capital Markets — 3.6% | ||||||
Bank of New York Mellon Corp. (The) | 58,700 | 3,382,294 | ||||
Cboe Global Markets, Inc. | 6,599 | 1,212,434 | ||||
Evercore, Inc. (Class A Stock) | 13,482 | 2,596,498 | ||||
Northern Trust Corp. | 28,652 | 2,547,736 | ||||
Raymond James Financial, Inc. | 24,896 | 3,197,144 | ||||
StepStone Group, Inc. (Class A Stock) | 94,198 | 3,366,637 | ||||
T. Rowe Price Group, Inc. | 24,500 | 2,987,040 | ||||
TPG, Inc. | 98,851 | 4,418,640 | ||||
23,708,423 | ||||||
Chemicals — 5.3% | ||||||
Ashland, Inc. | 21,337 | 2,077,584 | ||||
Axalta Coating Systems Ltd.* | 80,000 | 2,751,200 | ||||
Celanese Corp.(a) | 15,775 | 2,711,091 | ||||
Corteva, Inc. | 47,110 | 2,716,834 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Chemicals (cont’d.) | ||||||
Dow, Inc. | 23,435 | $1,357,590 | ||||
DuPont de Nemours, Inc.(a) | 33,189 | 2,544,601 | ||||
Eastman Chemical Co. | 28,383 | 2,844,544 | ||||
FMC Corp.(a) | 54,686 | 3,483,498 | ||||
Huntsman Corp. | 126,107 | 3,282,565 | ||||
Ingevity Corp.* | 53,727 | 2,562,778 | ||||
International Flavors & Fragrances, Inc. | 19,987 | 1,718,682 | ||||
RPM International, Inc. | 25,300 | 3,009,435 | ||||
Westlake Corp.(a) | 24,000 | 3,667,200 | ||||
34,727,602 | ||||||
Commercial Services & Supplies — 0.8% | ||||||
GFL Environmental, Inc.(a) | 47,114 | 1,625,433 | ||||
Republic Services, Inc. | 17,968 | 3,439,794 | ||||
5,065,227 | ||||||
Communications Equipment — 0.7% | ||||||
Motorola Solutions, Inc. | 13,009 | 4,617,935 | ||||
Construction & Engineering — 0.3% | ||||||
Quanta Services, Inc. | 7,493 | 1,946,681 | ||||
Construction Materials — 0.3% | ||||||
Vulcan Materials Co. | 7,204 | 1,966,116 | ||||
Consumer Finance — 0.6% | ||||||
Discover Financial Services | 13,648 | 1,789,117 | ||||
SLM Corp. | 103,818 | 2,262,194 | ||||
4,051,311 | ||||||
Consumer Staples Distribution & Retail — 3.4% | ||||||
Albertson’s Cos., Inc. (Class A Stock) | 67,370 | 1,444,413 | ||||
BJ’s Wholesale Club Holdings, Inc.* | 68,469 | 5,179,680 | ||||
Dollar General Corp. | 10,917 | 1,703,707 | ||||
Target Corp. | 23,900 | 4,235,319 | ||||
US Foods Holding Corp.* | 178,941 | 9,657,445 | ||||
22,220,564 | ||||||
Containers & Packaging — 3.4% | ||||||
AptarGroup, Inc. | 13,825 | 1,989,279 | ||||
Avery Dennison Corp. | 19,057 | 4,254,475 | ||||
Berry Global Group, Inc. | 33,529 | 2,027,834 | ||||
Crown Holdings, Inc. | 63,411 | 5,025,956 | ||||
Graphic Packaging Holding Co.(a) | 97,178 | 2,835,654 | ||||
Packaging Corp. of America | 21,400 | 4,061,292 | ||||
Westrock Co. | 39,251 | 1,940,962 | ||||
22,135,452 | ||||||
Distributors — 0.5% | ||||||
LKQ Corp. | 63,405 | 3,386,461 | ||||
Diversified REITs — 0.2% | ||||||
WP Carey, Inc. | 29,443 | 1,661,763 | ||||
Electric Utilities — 2.5% | ||||||
Alliant Energy Corp. | 122,677 | 6,182,921 | ||||
Edison International | 20,585 | 1,455,977 | ||||
PG&E Corp. | 205,248 | 3,439,956 | ||||
Pinnacle West Capital Corp. | 24,333 | 1,818,405 |
A1
AST MID-CAP VALUE PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Electric Utilities (cont’d.) | ||||||
Xcel Energy, Inc. | 60,200 | $3,235,750 | ||||
16,133,009 | ||||||
Electrical Equipment — 1.3% | ||||||
Eaton Corp. PLC | 4,660 | 1,457,089 | ||||
Hubbell, Inc. | 3,525 | 1,463,051 | ||||
Regal Rexnord Corp. | 24,600 | 4,430,460 | ||||
Sensata Technologies Holding PLC | 34,466 | 1,266,281 | ||||
8,616,881 | ||||||
Electronic Equipment, Instruments & Components — 3.8% | ||||||
Amphenol Corp. (Class A Stock) | 16,700 | 1,926,345 | ||||
Belden, Inc. | 27,993 | 2,592,432 | ||||
Coherent Corp.* | 44,127 | 2,674,979 | ||||
Corning, Inc. | 56,791 | 1,871,831 | ||||
Flex Ltd.* | 332,624 | 9,516,373 | ||||
TE Connectivity Ltd. | 13,252 | 1,924,720 | ||||
Zebra Technologies Corp. (Class A Stock)* | 15,026 | 4,529,437 | ||||
25,036,117 | ||||||
Energy Equipment & Services — 1.0% | ||||||
Baker Hughes Co. | 111,700 | 3,741,950 | ||||
Halliburton Co. | 39,101 | 1,541,361 | ||||
TechnipFMC PLC (United Kingdom) | 48,668 | 1,222,054 | ||||
6,505,365 | ||||||
Entertainment — 0.2% | ||||||
Electronic Arts, Inc. | 10,509 | 1,394,229 | ||||
Financial Services — 2.8% | ||||||
Corebridge Financial, Inc.(a) | 75,366 | 2,165,265 | ||||
Equitable Holdings, Inc. | 82,312 | 3,128,679 | ||||
Fidelity National Information Services, Inc. | 27,657 | 2,051,597 | ||||
Global Payments, Inc. | 41,626 | 5,563,731 | ||||
Voya Financial, Inc.(a) | 74,874 | 5,534,686 | ||||
18,443,958 | ||||||
Food Products — 0.5% | ||||||
General Mills, Inc. | 17,847 | 1,248,754 | ||||
Ingredion, Inc. | 18,814 | 2,198,416 | ||||
3,447,170 | ||||||
Gas Utilities — 0.2% | ||||||
Atmos Energy Corp. | 11,899 | 1,414,434 | ||||
Ground Transportation — 3.1% | ||||||
Avis Budget Group, Inc.(a) | 6,309 | 772,600 | ||||
J.B. Hunt Transport Services, Inc.(a) | 27,570 | 5,493,323 | ||||
Knight-Swift Transportation Holdings, Inc. | 139,954 | 7,700,269 | ||||
Landstar System, Inc.(a) | 12,600 | 2,428,776 | ||||
Norfolk Southern Corp. | 6,520 | 1,661,752 | ||||
XPO, Inc.* | 18,416 | 2,247,305 | ||||
20,304,025 | ||||||
Health Care Equipment & Supplies — 3.1% | ||||||
Cooper Cos., Inc. (The) | 28,675 | 2,909,366 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Health Care Equipment & Supplies (cont’d.) | ||||||
DENTSPLY SIRONA, Inc. | 89,244 | $2,962,008 | ||||
Hologic, Inc.* | 45,900 | 3,578,364 | ||||
Integra LifeSciences Holdings Corp.* | 79,536 | 2,819,551 | ||||
STERIS PLC | 8,052 | 1,810,251 | ||||
Teleflex, Inc. | 5,497 | 1,243,256 | ||||
Zimmer Biomet Holdings, Inc. | 38,019 | 5,017,748 | ||||
20,340,544 | ||||||
Health Care Providers & Services — 2.0% | ||||||
Cencora, Inc. | 15,193 | 3,691,747 | ||||
Humana, Inc. | 3,085 | 1,069,631 | ||||
Laboratory Corp. of America Holdings | 6,084 | 1,329,111 | ||||
Quest Diagnostics, Inc. | 31,100 | 4,139,721 | ||||
Universal Health Services, Inc. (Class B Stock) | 15,954 | 2,910,967 | ||||
13,141,177 | ||||||
Hotel & Resort REITs — 0.3% | ||||||
Host Hotels & Resorts, Inc.(a) | 82,349 | 1,702,977 | ||||
Hotels, Restaurants & Leisure — 3.3% | ||||||
Aramark | 63,413 | 2,062,191 | ||||
Darden Restaurants, Inc.(a) | 28,963 | 4,841,165 | ||||
Denny’s Corp.* | 215,159 | 1,927,825 | ||||
Hilton Worldwide Holdings, Inc. | 7,900 | 1,685,149 | ||||
Hyatt Hotels Corp. (Class A Stock) | 12,261 | 1,957,101 | ||||
International Game Technology PLC | 54,744 | 1,236,667 | ||||
Wendy’s Co. (The) | 59,162 | 1,114,612 | ||||
Wyndham Hotels & Resorts, Inc. | 45,672 | 3,505,326 | ||||
Yum! Brands, Inc.(a) | 23,800 | 3,299,870 | ||||
21,629,906 | ||||||
Household Durables — 0.8% | ||||||
Newell Brands, Inc. | 110,571 | 887,885 | ||||
Toll Brothers, Inc.(a) | 33,139 | 4,287,193 | ||||
5,175,078 | ||||||
Independent Power & Renewable Electricity Producers — 0.3% | ||||||
AES Corp. (The) | 94,139 | 1,687,912 | ||||
Industrial REITs — 0.2% | ||||||
STAG Industrial, Inc.(a) | 36,979 | 1,421,473 | ||||
Insurance — 7.7% | ||||||
American Financial Group, Inc. | 31,500 | 4,299,120 | ||||
American International Group, Inc. | 32,454 | 2,536,929 | ||||
Assurant, Inc. | 14,108 | 2,655,690 | ||||
Everest Group Ltd.(a) | 14,507 | 5,766,533 | ||||
Fidelity National Financial, Inc.(a) | 54,500 | 2,893,950 | ||||
Hanover Insurance Group, Inc. (The) | 34,083 | 4,641,082 | ||||
Hartford Financial Services Group, Inc. (The) | 86,066 | 8,869,101 | ||||
Kemper Corp. | 89,617 | 5,549,085 | ||||
Old Republic International Corp. | 97,400 | 2,992,128 | ||||
W.R. Berkley Corp.(a) | 35,500 | 3,139,620 | ||||
Willis Towers Watson PLC | 25,066 | 6,893,150 | ||||
50,236,388 |
A2
AST MID-CAP VALUE PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Interactive Media & Services — 0.3% | ||||||
Cargurus, Inc.* | 95,346 | $2,200,586 | ||||
Leisure Products — 0.6% | ||||||
Brunswick Corp. | 23,497 | 2,267,931 | ||||
Mattel, Inc.* | 80,924 | 1,603,104 | ||||
3,871,035 | ||||||
Life Sciences Tools & Services — 1.6% | ||||||
Agilent Technologies, Inc. | 30,783 | 4,479,234 | ||||
ICON PLC* | 14,650 | 4,921,668 | ||||
Revvity, Inc. | 11,666 | 1,224,930 | ||||
10,625,832 | ||||||
Machinery — 5.1% | ||||||
AGCO Corp. | 39,738 | 4,888,569 | ||||
Ingersoll Rand, Inc. | 15,182 | 1,441,531 | ||||
ITT, Inc. | 16,737 | 2,276,734 | ||||
John Bean Technologies Corp. | 28,729 | 3,013,385 | ||||
Lincoln Electric Holdings, Inc. | 5,700 | 1,456,008 | ||||
Middleby Corp. (The)* | 47,928 | 7,706,343 | ||||
PACCAR, Inc. | 13,917 | 1,724,177 | ||||
Pentair PLC | 11,327 | 967,779 | ||||
Stanley Black & Decker, Inc. | 15,573 | 1,525,064 | ||||
Toro Co. (The)(a) | 30,700 | 2,813,041 | ||||
Westinghouse Air Brake Technologies Corp. | 24,353 | 3,547,745 | ||||
Xylem, Inc.(a) | 14,900 | 1,925,676 | ||||
33,286,052 | ||||||
Metals & Mining — 0.5% | ||||||
Franco-Nevada Corp. (Canada)(a) | 26,350 | 3,139,866 | ||||
Multi-Utilities — 1.3% | ||||||
CenterPoint Energy, Inc. | 60,890 | 1,734,756 | ||||
CMS Energy Corp. | 38,500 | 2,323,090 | ||||
Public Service Enterprise Group, Inc. | 36,421 | 2,432,194 | ||||
Sempra | 25,859 | 1,857,452 | ||||
8,347,492 | ||||||
Office REITs — 0.6% | ||||||
Alexandria Real Estate Equities, Inc. | 29,700 | 3,828,627 | ||||
Oil, Gas & Consumable Fuels — 4.8% | ||||||
Chesapeake Energy Corp.(a) | 25,337 | 2,250,686 | ||||
Coterra Energy, Inc. | 143,700 | 4,006,356 | ||||
Devon Energy Corp. | 70,300 | 3,527,654 | ||||
Diamondback Energy, Inc. | 33,565 | 6,651,576 | ||||
Marathon Oil Corp. | 128,664 | 3,646,338 | ||||
Permian Resources Corp. | 110,606 | 1,953,302 | ||||
Pioneer Natural Resources Co. | 7,950 | 2,086,875 | ||||
Plains GP Holdings LP (Class A Stock)*(a) | 109,295 | 1,994,634 | ||||
Targa Resources Corp. | 25,081 | 2,808,821 | ||||
Valero Energy Corp. | 14,476 | 2,470,908 | ||||
31,397,150 | ||||||
Passenger Airlines — 0.8% | ||||||
Alaska Air Group, Inc.* | 67,736 | 2,911,971 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Passenger Airlines (cont’d.) | ||||||
Delta Air Lines, Inc. | 42,430 | $2,031,124 | ||||
4,943,095 | ||||||
Personal Care Products — 0.3% | ||||||
Kenvue, Inc. | 91,896 | 1,972,088 | ||||
Pharmaceuticals — 0.1% | ||||||
Organon & Co. | 49,583 | 932,160 | ||||
Professional Services — 4.7% | ||||||
Dun & Bradstreet Holdings, Inc. | 110,304 | 1,107,452 | ||||
FTI Consulting, Inc.* | 17,800 | 3,743,162 | ||||
Genpact Ltd. | 76,600 | 2,523,970 | ||||
Jacobs Solutions, Inc. | 12,946 | 1,990,189 | ||||
KBR, Inc. | 43,206 | 2,750,494 | ||||
Leidos Holdings, Inc. | 81,487 | 10,682,131 | ||||
ManpowerGroup, Inc. | 29,750 | 2,309,790 | ||||
Maximus, Inc. | 25,300 | 2,122,670 | ||||
TransUnion | 41,319 | 3,297,256 | ||||
30,527,114 | ||||||
Real Estate Management & Development — 0.2% | ||||||
Jones Lang LaSalle, Inc.* | 7,661 | 1,494,584 | ||||
Residential REITs — 1.7% | ||||||
Camden Property Trust(a) | 32,400 | 3,188,160 | ||||
Equity LifeStyle Properties, Inc. | 31,100 | 2,002,840 | ||||
Essex Property Trust, Inc.(a) | 7,393 | 1,809,880 | ||||
Mid-America Apartment Communities, Inc. | 13,573 | 1,785,935 | ||||
Sun Communities, Inc. | 16,410 | 2,109,998 | ||||
10,896,813 | ||||||
Retail REITs — 1.6% | ||||||
Brixmor Property Group, Inc. | 249,909 | 5,860,366 | ||||
NNN REIT, Inc.(a) | 105,200 | 4,496,248 | ||||
10,356,614 | ||||||
Semiconductors & Semiconductor Equipment — 3.3% | ||||||
Marvell Technology, Inc. | 32,902 | 2,332,094 | ||||
MKS Instruments, Inc. | 55,335 | 7,359,555 | ||||
NXP Semiconductors NV (China) | 9,824 | 2,434,092 | ||||
ON Semiconductor Corp.* | 21,900 | 1,610,745 | ||||
Silicon Motion Technology Corp. (Taiwan), ADR | 40,089 | 3,084,448 | ||||
Skyworks Solutions, Inc. | 46,131 | 4,996,910 | ||||
21,817,844 | ||||||
Software — 0.2% | ||||||
Check Point Software Technologies Ltd. (Israel)*(a) | 7,234 | 1,186,448 | ||||
Specialized REITs — 1.9% | ||||||
Extra Space Storage, Inc. | 18,130 | 2,665,110 | ||||
Gaming & Leisure Properties, Inc. | 69,654 | 3,208,960 | ||||
Lamar Advertising Co. (Class A Stock) | 33,400 | 3,988,294 | ||||
VICI Properties, Inc. | 78,818 | 2,347,988 | ||||
12,210,352 |
A3
AST MID-CAP VALUE PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Specialty Retail — 1.0% | ||||||
Dick’s Sporting Goods, Inc.(a) | 7,700 | $1,731,422 | ||||
Ross Stores, Inc. | 31,999 | 4,696,173 | ||||
6,427,595 | ||||||
Technology Hardware, Storage & Peripherals — 0.2% | ||||||
Western Digital Corp.* | 21,400 | 1,460,336 | ||||
Textiles, Apparel & Luxury Goods — 1.6% | ||||||
PVH Corp. | 18,156 | 2,552,915 | ||||
Ralph Lauren Corp. | 11,700 | 2,196,792 | ||||
Skechers USA, Inc. (Class A Stock)* | 33,503 | 2,052,394 | ||||
Steven Madden Ltd.(a) | 70,211 | 2,968,521 | ||||
VF Corp. | 39,160 | 600,714 | ||||
10,371,336 | ||||||
Trading Companies & Distributors — 0.5% | ||||||
AerCap Holdings NV (Ireland)* | 36,812 | 3,199,331 | ||||
Total Common Stocks (cost $526,238,286) | 627,274,476 | |||||
Preferred Stock — 0.2% | ||||||
Household Products | ||||||
Henkel AG & Co. KGaA (Germany) (PRFC) | 14,526 | 1,167,542 | ||||
(cost $1,262,216) | ||||||
Unaffiliated Exchange-Traded Funds — 2.8% | ||||||
iShares Russell Mid-Cap Value ETF(a) | 53,853 | 6,749,397 | ||||
Vanguard Mid-Cap Value ETF | 76,362 | 11,905,599 | ||||
Total Unaffiliated Exchange-Traded Funds (cost $15,975,402) | 18,654,996 | |||||
Total Long-Term Investments (cost $543,475,904) | 647,097,014 | |||||
Short-Term Investments — 12.1% | ||||||
Affiliated Mutual Funds — 11.6% | ||||||
PGIM Core Government Money Market Fund (7-day effective yield 5.552%)(wb) | 4,790,450 | 4,790,450 | ||||
PGIM Institutional Money Market Fund (7-day effective yield 5.664%) (cost $71,166,932; includes $70,815,040 of cash collateral for securities on loan)(b)(wb) | 71,196,784 | 71,161,185 | ||||
Total Affiliated Mutual Funds (cost $75,957,382) | 75,951,635 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligation(n) — 0.5% | |||||||
Federal Home Loan Bank | |||||||
5.153% | 04/01/24 | 3,528 | $3,525,894 | ||||
(cost $3,528,000) |
Shares | |||||
Unaffiliated Fund — 0.0% | |||||
Morgan Stanley Institutional Liquidity Funds - Government Portfolio (7-day effective yield 5.221%) (Institutional Shares) | 21,845 | 21,845 | |||
(cost $21,845) | |||||
Total Short-Term Investments (cost $79,507,227) | 79,499,374 | ||||
TOTAL INVESTMENTS—110.9% (cost $622,983,131) | 726,596,388 | ||||
Liabilities in excess of other assets — (10.9)% | (71,669,894) | ||||
Net Assets — 100.0% | $654,926,494 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: | |
ADR | American Depositary Receipt |
ETF | Exchange-Traded Fund |
LP | Limited Partnership |
PRFC | Preference Shares |
REITs | Real Estate Investment Trust |
* | 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 $69,952,269; cash collateral of $70,815,040 (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. |
(n) | Rate shown reflects yield to maturity at purchased date. |
(wb) | Represents an investment in a Fund affiliated with the Manager. |
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).
A4