AST QUANTITATIVE MODELING PORTFOLIO
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Long-Term Investments — 95.3% | ||||||
Affiliated Mutual Funds — 31.7% | ||||||
Domestic Equity — 23.4% | ||||||
AST ClearBridge Dividend Growth Portfolio* | 548,769 | $18,164,255 | ||||
AST Cohen & Steers Realty Portfolio* | 125,783 | 2,103,084 | ||||
AST Large-Cap Growth Portfolio* | 1,078,601 | 89,060,081 | ||||
AST Large-Cap Value Portfolio* | 1,420,108 | 73,163,977 | ||||
AST Small-Cap Growth Portfolio* | 189,916 | 14,667,203 | ||||
AST Small-Cap Value Portfolio* | 378,191 | 14,915,848 | ||||
212,074,448 | ||||||
Fixed Income — 0.5% | ||||||
AST High Yield Portfolio* | 384,679 | 4,735,397 | ||||
International Equity — 4.4% | ||||||
AST Emerging Markets Equity Portfolio* | 88,197 | 827,291 | ||||
AST International Growth Portfolio* | 1,424,574 | 38,705,688 | ||||
39,532,979 | ||||||
International Fixed Income — 3.4% | ||||||
AST Global Bond Portfolio* | 2,703,217 | 30,573,385 | ||||
Total Affiliated Mutual Funds (cost $242,751,339)(wa) | 286,916,209 | |||||
Common Stocks — 43.4% | ||||||
Aerospace & Defense — 0.8% | ||||||
Axon Enterprise, Inc.* | 170 | 53,190 | ||||
BAE Systems PLC (United Kingdom) | 15,158 | 258,375 | ||||
Boeing Co. (The)* | 5,910 | 1,140,571 | ||||
Curtiss-Wright Corp. | 3,000 | 767,820 | ||||
General Dynamics Corp. | 1,060 | 299,439 | ||||
Howmet Aerospace, Inc. | 12,590 | 861,534 | ||||
Huntington Ingalls Industries, Inc. | 80 | 23,318 | ||||
Kongsberg Gruppen ASA (Norway) | 403 | 27,826 | ||||
L3Harris Technologies, Inc. | 1,360 | 289,816 | ||||
Lockheed Martin Corp. | 540 | 245,630 | ||||
Melrose Industries PLC (United Kingdom) | 4,707 | 39,967 | ||||
MTU Aero Engines AG (Germany) | 1,008 | 255,655 | ||||
Northrop Grumman Corp. | 2,640 | 1,263,662 | ||||
Rheinmetall AG (Germany) | 156 | 87,738 | ||||
Rolls-Royce Holdings PLC (United Kingdom)* | 116,493 | 626,775 | ||||
RTX Corp. | 3,320 | 323,800 | ||||
Saab AB (Sweden) (Class B Stock) | 312 | 27,753 | ||||
Safran SA (France) | 1,576 | 356,919 | ||||
Singapore Technologies Engineering Ltd. (Singapore) | 7,200 | 21,436 | ||||
Textron, Inc. | 510 | 48,924 | ||||
TransDigm Group, Inc. | 138 | 169,961 | ||||
7,190,109 | ||||||
Air Freight & Logistics — 0.2% | ||||||
C.H. Robinson Worldwide, Inc.(a) | 310 | 23,603 | ||||
Expeditors International of Washington, Inc.(a) | 350 | 42,550 | ||||
FedEx Corp. | 4,370 | 1,266,164 | ||||
Nippon Express Holdings, Inc. (Japan) | 200 | 10,209 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Air Freight & Logistics (cont’d.) | ||||||
United Parcel Service, Inc. (Class B Stock) | 1,800 | $267,534 | ||||
1,610,060 | ||||||
Automobile Components — 0.1% | ||||||
Aptiv PLC* | 4,200 | 334,530 | ||||
BorgWarner, Inc.(a) | 620 | 21,539 | ||||
Denso Corp. (Japan) | 6,600 | 126,401 | ||||
Sumitomo Electric Industries Ltd. (Japan) | 22,100 | 342,447 | ||||
824,917 | ||||||
Automobiles — 0.8% | ||||||
Bayerische Motoren Werke AG (Germany) | 4,971 | 573,548 | ||||
Ford Motor Co. | 84,850 | 1,126,808 | ||||
General Motors Co. | 8,250 | 374,138 | ||||
Mazda Motor Corp. (Japan) | 31,300 | 362,755 | ||||
Stellantis NV | 24,056 | 683,408 | ||||
Subaru Corp. (Japan) | 22,200 | 502,782 | ||||
Tesla, Inc.* | 18,450 | 3,243,326 | ||||
Toyota Motor Corp. (Japan) | 22,400 | 566,159 | ||||
Volkswagen AG (Germany) | 143 | 21,844 | ||||
Volvo Car AB (Sweden) (Class B Stock)* | 59,348 | 224,691 | ||||
7,679,459 | ||||||
Banks — 1.8% | ||||||
ABN AMRO Bank NV (Netherlands), 144A, CVA | 1,702 | 29,125 | ||||
Banco Bilbao Vizcaya Argentaria SA (Spain) | 44,758 | 533,001 | ||||
Banco Santander SA (Spain) | 67,988 | 332,083 | ||||
Bank of America Corp. | 64,000 | 2,426,880 | ||||
Barclays PLC (United Kingdom) | 86,900 | 201,404 | ||||
BOC Hong Kong Holdings Ltd. (China) | 15,500 | 41,560 | ||||
CaixaBank SA (Spain) | 18,261 | 88,613 | ||||
Citigroup, Inc. | 5,860 | 370,586 | ||||
Citizens Financial Group, Inc. | 10,850 | 393,746 | ||||
Comerica, Inc. | 350 | 19,246 | ||||
Commonwealth Bank of Australia (Australia) | 1,265 | 99,226 | ||||
Credit Agricole SA (France) | 22,650 | 337,891 | ||||
Danske Bank A/S (Denmark) | 3,231 | 96,983 | ||||
Erste Group Bank AG (Austria) | 2,616 | 116,589 | ||||
Fifth Third Bancorp | 1,740 | 64,745 | ||||
HSBC Holdings PLC (United Kingdom) | 69,333 | 541,964 | ||||
Huntington Bancshares, Inc. | 3,810 | 53,149 | ||||
Intesa Sanpaolo SpA (Italy) | 132,901 | 482,502 | ||||
JPMorgan Chase & Co. | 17,830 | 3,571,349 | ||||
KeyCorp | 2,470 | 39,051 | ||||
M&T Bank Corp. | 400 | 58,176 | ||||
Mitsubishi UFJ Financial Group, Inc. (Japan) | 58,700 | 597,220 | ||||
National Australia Bank Ltd. (Australia) | 13,398 | 303,359 | ||||
NatWest Group PLC (United Kingdom) | 29,773 | 99,720 | ||||
Nordea Bank Abp (Finland) | 7,149 | 80,817 |
A1
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Banks (cont’d.) | ||||||
NU Holdings Ltd. (Brazil) (Class A Stock)* | 42,600 | $508,218 | ||||
Oversea-Chinese Banking Corp. Ltd. (Singapore) | 56,800 | 567,538 | ||||
PNC Financial Services Group, Inc. (The) | 2,070 | 334,512 | ||||
Popular, Inc. (Puerto Rico) | 3,800 | 334,742 | ||||
Regions Financial Corp.(a) | 2,470 | 51,969 | ||||
Skandinaviska Enskilda Banken AB (Sweden) (Class A Stock) | 5,552 | 75,216 | ||||
Svenska Handelsbanken AB (Sweden) (Class A Stock) | 3,926 | 39,692 | ||||
Swedbank AB (Sweden) (Class A Stock) | 3,430 | 68,078 | ||||
Truist Financial Corp. | 17,650 | 687,997 | ||||
U.S. Bancorp | 3,930 | 175,671 | ||||
UniCredit SpA (Italy) | 13,303 | 505,239 | ||||
United Overseas Bank Ltd. (Singapore) | 4,400 | 95,656 | ||||
Wells Fargo & Co. | 32,270 | 1,870,369 | ||||
Westpac Banking Corp. (Australia) | 12,351 | 210,068 | ||||
16,503,950 | ||||||
Beverages — 0.5% | ||||||
Asahi Group Holdings Ltd. (Japan) | 1,700 | 62,424 | ||||
Brown-Forman Corp. (Class B Stock)(a) | 480 | 24,778 | ||||
Coca-Cola Co. (The) | 39,540 | 2,419,057 | ||||
Coca-Cola HBC AG (Italy)* | 1,071 | 33,844 | ||||
Constellation Brands, Inc. (Class A Stock) | 390 | 105,986 | ||||
Keurig Dr. Pepper, Inc. | 26,010 | 797,727 | ||||
Molson Coors Beverage Co. (Class B Stock) | 490 | 32,953 | ||||
Monster Beverage Corp.* | 1,880 | 111,446 | ||||
PepsiCo, Inc. | 6,450 | 1,128,814 | ||||
4,717,029 | ||||||
Biotechnology — 0.7% | ||||||
AbbVie, Inc. | 15,300 | 2,786,130 | ||||
Amgen, Inc. | 4,130 | 1,174,242 | ||||
Biogen, Inc.* | 340 | 73,314 | ||||
BioMarin Pharmaceutical, Inc.* | 1,000 | 87,340 | ||||
Gilead Sciences, Inc. | 3,130 | 229,273 | ||||
Incyte Corp.* | 10,390 | 591,918 | ||||
Moderna, Inc.*(a) | 860 | 91,642 | ||||
Natera, Inc.* | 1,200 | 109,752 | ||||
Regeneron Pharmaceuticals, Inc.* | 260 | 250,247 | ||||
Swedish Orphan Biovitrum AB (Sweden)* | 784 | 19,569 | ||||
United Therapeutics Corp.* | 1,700 | 390,524 | ||||
Vertex Pharmaceuticals, Inc.* | 1,030 | 430,550 | ||||
6,234,501 | ||||||
Broadline Retail — 1.4% | ||||||
Amazon.com, Inc.* | 68,960 | 12,439,005 | ||||
eBay, Inc. | 1,330 | 70,197 | ||||
Etsy, Inc.* | 330 | 22,678 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Broadline Retail (cont’d.) | ||||||
Next PLC (United Kingdom) | 2,289 | $266,816 | ||||
Pan Pacific International Holdings Corp. (Japan) | 1,300 | 34,452 | ||||
Prosus NV (China)* | 5,209 | 163,044 | ||||
Wesfarmers Ltd. (Australia) | 1,053 | 46,937 | ||||
13,043,129 | ||||||
Building Products — 0.3% | ||||||
A.O. Smith Corp. | 330 | 29,522 | ||||
Allegion PLC | 230 | 30,983 | ||||
Armstrong World Industries, Inc. | 900 | 111,798 | ||||
AZEK Co., Inc. (The)* | 14,300 | 718,146 | ||||
Builders FirstSource, Inc.* | 280 | 58,394 | ||||
Carrier Global Corp. | 2,140 | 124,398 | ||||
Cie de Saint-Gobain SA (France) | 2,142 | 166,249 | ||||
Johnson Controls International PLC | 1,720 | 112,351 | ||||
Masco Corp. | 1,750 | 138,040 | ||||
Owens Corning | 5,100 | 850,680 | ||||
ROCKWOOL A/S (Denmark) (Class B Stock) | 50 | 16,451 | ||||
Trane Technologies PLC | 560 | 168,112 | ||||
2,525,124 | ||||||
Capital Markets — 1.3% | ||||||
3i Group PLC (United Kingdom) | 11,462 | 406,413 | ||||
Ameriprise Financial, Inc. | 235 | 103,033 | ||||
Amundi SA (France), 144A | 260 | 17,859 | ||||
Bank of New York Mellon Corp. (The) | 18,410 | 1,060,784 | ||||
BlackRock, Inc.(a) | 1,840 | 1,534,008 | ||||
Blackstone, Inc. | 1,810 | 237,780 | ||||
Cboe Global Markets, Inc. | 280 | 51,444 | ||||
Charles Schwab Corp. (The) | 3,750 | 271,275 | ||||
CME Group, Inc. | 910 | 195,914 | ||||
Deutsche Bank AG (Germany) | 25,294 | 398,387 | ||||
Deutsche Boerse AG (Germany) | 667 | 136,595 | ||||
FactSet Research Systems, Inc. | 85 | 38,623 | ||||
Franklin Resources, Inc. | 750 | 21,083 | ||||
Goldman Sachs Group, Inc. (The) | 3,700 | 1,545,453 | ||||
Hargreaves Lansdown PLC (United Kingdom) | 1,738 | 16,131 | ||||
Intercontinental Exchange, Inc. | 4,810 | 661,038 | ||||
Invesco Ltd. | 1,180 | 19,576 | ||||
Janus Henderson Group PLC | 4,600 | 151,294 | ||||
MarketAxess Holdings, Inc. | 105 | 23,021 | ||||
Moody’s Corp.(a) | 385 | 151,317 | ||||
Morgan Stanley | 3,140 | 295,662 | ||||
MSCI, Inc. | 1,685 | 944,358 | ||||
Nasdaq, Inc. | 950 | 59,945 | ||||
Northern Trust Corp. | 510 | 45,349 | ||||
Raymond James Financial, Inc. | 4,360 | 559,911 | ||||
S&P Global, Inc. | 4,100 | 1,744,345 | ||||
St. James’s Place PLC (United Kingdom) | 2,422 | 14,209 | ||||
State Street Corp. | 760 | 58,763 | ||||
T. Rowe Price Group, Inc. | 4,780 | 582,778 | ||||
UBS Group AG (Switzerland) | 11,542 | 355,389 |
A2
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Capital Markets (cont’d.) | ||||||
Virtu Financial, Inc. (Class A Stock) | 7,550 | $154,926 | ||||
11,856,663 | ||||||
Chemicals — 0.6% | ||||||
Air Products & Chemicals, Inc. | 545 | 132,037 | ||||
Albemarle Corp.(a) | 310 | 40,839 | ||||
Arkema SA (France) | 277 | 29,163 | ||||
Celanese Corp. | 230 | 39,528 | ||||
CF Industries Holdings, Inc. | 500 | 41,605 | ||||
Corteva, Inc. | 1,790 | 103,229 | ||||
Dow, Inc. | 6,180 | 358,007 | ||||
DuPont de Nemours, Inc. | 1,080 | 82,804 | ||||
Eastman Chemical Co. | 310 | 31,068 | ||||
Ecolab, Inc. | 930 | 214,737 | ||||
FMC Corp. | 330 | 21,021 | ||||
ICL Group Ltd. (Israel) | 7,150 | 37,894 | ||||
International Flavors & Fragrances, Inc. | 670 | 57,613 | ||||
Linde PLC | 3,000 | 1,392,960 | ||||
LyondellBasell Industries NV (Class A Stock) | 1,360 | 139,101 | ||||
Mitsubishi Chemical Group Corp. (Japan) | 28,600 | 174,296 | ||||
Mosaic Co. (The) | 880 | 28,565 | ||||
Nippon Paint Holdings Co. Ltd. (Japan) | 1,800 | 12,955 | ||||
Nippon Sanso Holdings Corp. (Japan) | 3,600 | 112,953 | ||||
Nitto Denko Corp. (Japan) | 600 | 54,865 | ||||
Orica Ltd. (Australia) | 9,119 | 108,465 | ||||
PPG Industries, Inc. | 6,680 | 967,932 | ||||
Sherwin-Williams Co. (The) | 3,280 | 1,139,242 | ||||
Solvay SA (Belgium) | 3,405 | 92,928 | ||||
Syensqo SA (Belgium)* | 339 | 32,122 | ||||
Yara International ASA (Brazil) | 756 | 23,972 | ||||
5,469,901 | ||||||
Commercial Services & Supplies — 0.2% | ||||||
Brambles Ltd. (Australia) | 47,304 | 497,832 | ||||
Cintas Corp. | 305 | 209,544 | ||||
Copart, Inc.* | 2,230 | 129,162 | ||||
Republic Services, Inc. | 500 | 95,720 | ||||
Rollins, Inc. | 740 | 34,240 | ||||
Veralto Corp. | 570 | 50,536 | ||||
Vestis Corp. | 4,000 | 77,080 | ||||
Waste Management, Inc. | 4,990 | 1,063,619 | ||||
2,157,733 | ||||||
Communications Equipment — 0.3% | ||||||
Arista Networks, Inc.* | 4,320 | 1,252,714 | ||||
Cisco Systems, Inc. | 18,140 | 905,367 | ||||
F5, Inc.* | 120 | 22,751 | ||||
Juniper Networks, Inc. | 850 | 31,501 | ||||
Motorola Solutions, Inc. | 400 | 141,992 | ||||
Nokia OYJ (Finland) | 18,828 | 66,803 | ||||
2,421,128 | ||||||
Construction & Engineering — 0.1% | ||||||
ACS Actividades de Construccion y Servicios SA (Spain) | 924 | 38,696 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Construction & Engineering (cont’d.) | ||||||
Eiffage SA (France) | 307 | $34,842 | ||||
Quanta Services, Inc. | 340 | 88,332 | ||||
Taisei Corp. (Japan) | 600 | 21,870 | ||||
Vinci SA (France) | 3,494 | 448,380 | ||||
632,120 | ||||||
Construction Materials — 0.2% | ||||||
CRH PLC | 2,997 | 258,671 | ||||
Heidelberg Materials AG (Germany) | 1,960 | 215,760 | ||||
Holcim AG* | 6,037 | 546,933 | ||||
James Hardie Industries PLC, CDI* | 1,785 | 71,745 | ||||
Martin Marietta Materials, Inc.(a) | 150 | 92,091 | ||||
Vulcan Materials Co. | 3,310 | 903,365 | ||||
2,088,565 | ||||||
Consumer Finance — 0.2% | ||||||
Ally Financial, Inc. | 13,300 | 539,847 | ||||
American Express Co. | 1,420 | 323,320 | ||||
Capital One Financial Corp. | 1,430 | 212,913 | ||||
Discover Financial Services | 650 | 85,208 | ||||
Synchrony Financial | 5,940 | 256,133 | ||||
1,417,421 | ||||||
Consumer Staples Distribution & Retail — 0.7% | ||||||
Carrefour SA (France) | 3,214 | 55,134 | ||||
Coles Group Ltd. (Australia) | 4,637 | 51,189 | ||||
Costco Wholesale Corp. | 3,400 | 2,490,942 | ||||
Dollar General Corp. | 540 | 84,272 | ||||
Dollar Tree, Inc.* | 510 | 67,907 | ||||
Koninklijke Ahold Delhaize NV (Netherlands) | 4,279 | 128,035 | ||||
Kroger Co. (The) | 1,680 | 95,978 | ||||
Sysco Corp. | 1,270 | 103,099 | ||||
Target Corp. | 7,880 | 1,396,415 | ||||
Tesco PLC (United Kingdom) | 93,691 | 350,917 | ||||
Walgreens Boots Alliance, Inc. | 16,490 | 357,668 | ||||
Walmart, Inc. | 24,870 | 1,496,428 | ||||
6,677,984 | ||||||
Containers & Packaging — 0.1% | ||||||
Amcor PLC | 3,880 | 36,899 | ||||
Avery Dennison Corp. | 210 | 46,883 | ||||
Ball Corp. | 1,790 | 120,574 | ||||
Crown Holdings, Inc. | 2,700 | 214,002 | ||||
International Paper Co. | 910 | 35,508 | ||||
Packaging Corp. of America | 200 | 37,956 | ||||
Smurfit Kappa Group PLC (Ireland) | 1,160 | 52,891 | ||||
Westrock Co. | 680 | 33,626 | ||||
578,339 | ||||||
Distributors — 0.1% | ||||||
Genuine Parts Co. | 3,230 | 500,424 | ||||
LKQ Corp. | 710 | 37,921 | ||||
Pool Corp. | 90 | 36,315 | ||||
574,660 |
A3
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Diversified REITs — 0.0% | ||||||
GPT Group (The) (Australia) | 11,140 | $33,153 | ||||
Stockland (Australia) | 12,180 | 38,487 | ||||
71,640 | ||||||
Diversified Telecommunication Services — 0.4% | ||||||
AT&T, Inc. | 62,000 | 1,091,200 | ||||
BT Group PLC (United Kingdom) | 25,325 | 35,049 | ||||
Deutsche Telekom AG (Germany) | 11,479 | 278,647 | ||||
HKT Trust & HKT Ltd. (Hong Kong), UTS | 27,000 | 31,503 | ||||
Koninklijke KPN NV (Netherlands) | 69,142 | 258,619 | ||||
Nippon Telegraph & Telephone Corp. (Japan) | 18,000 | 21,440 | ||||
Orange SA (France) | 6,572 | 77,287 | ||||
Proximus SADP (Belgium) | 20,923 | 169,210 | ||||
Verizon Communications, Inc. | 37,180 | 1,560,073 | ||||
3,523,028 | ||||||
Electric Utilities — 0.6% | ||||||
Alliant Energy Corp. | 670 | 33,768 | ||||
American Electric Power Co., Inc. | 1,320 | 113,652 | ||||
Chubu Electric Power Co., Inc. (Japan) | 2,900 | 37,921 | ||||
Constellation Energy Corp. | 770 | 142,335 | ||||
Duke Energy Corp. | 3,730 | 360,728 | ||||
Edison International | 970 | 68,608 | ||||
Endesa SA (Spain) | 23,321 | 432,405 | ||||
Enel SpA (Italy) | 34,285 | 226,332 | ||||
Entergy Corp. | 3,750 | 396,300 | ||||
Evergy, Inc. | 610 | 32,562 | ||||
Eversource Energy | 880 | 52,598 | ||||
Exelon Corp. | 2,520 | 94,676 | ||||
FirstEnergy Corp. | 1,300 | 50,206 | ||||
Kansai Electric Power Co., Inc. (The) (Japan) | 10,300 | 146,969 | ||||
NextEra Energy, Inc. | 10,450 | 667,860 | ||||
NRG Energy, Inc. | 6,870 | 465,030 | ||||
PG&E Corp. | 56,350 | 944,426 | ||||
Pinnacle West Capital Corp. | 300 | 22,419 | ||||
PPL Corp. | 1,860 | 51,206 | ||||
Southern Co. (The)(a) | 2,730 | 195,850 | ||||
Tokyo Electric Power Co. Holdings, Inc. (Japan)* | 23,100 | 140,405 | ||||
Xcel Energy, Inc. | 10,700 | 575,125 | ||||
5,251,381 | ||||||
Electrical Equipment — 0.4% | ||||||
ABB Ltd. (Switzerland) | 15,373 | 713,158 | ||||
AMETEK, Inc. | 570 | 104,253 | ||||
Eaton Corp. PLC | 4,100 | 1,281,988 | ||||
Emerson Electric Co. | 3,650 | 413,983 | ||||
Generac Holdings, Inc.* | 170 | 21,444 | ||||
Hubbell, Inc. | 125 | 51,881 | ||||
Rockwell Automation, Inc.(a) | 280 | 81,573 | ||||
Vertiv Holdings Co. (Class A Stock) | 10,900 | 890,203 | ||||
3,558,483 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Electronic Equipment, Instruments & Components — 0.2% | ||||||
Amphenol Corp. (Class A Stock) | 2,720 | $313,752 | ||||
CDW Corp. | 320 | 81,850 | ||||
Corning, Inc. | 1,940 | 63,942 | ||||
Jabil, Inc.(a) | 290 | 38,846 | ||||
Keysight Technologies, Inc.* | 430 | 67,243 | ||||
Shimadzu Corp. (Japan) | 800 | 22,283 | ||||
TD SYNNEX Corp. | 6,300 | 712,530 | ||||
TE Connectivity Ltd. | 750 | 108,930 | ||||
Teledyne Technologies, Inc.* | 110 | 47,225 | ||||
Trimble, Inc.* | 660 | 42,478 | ||||
Yokogawa Electric Corp. (Japan) | 6,300 | 145,085 | ||||
Zebra Technologies Corp. (Class A Stock)* | 120 | 36,173 | ||||
1,680,337 | ||||||
Energy Equipment & Services — 0.1% | ||||||
Baker Hughes Co. | 9,960 | 333,660 | ||||
Halliburton Co. | 2,270 | 89,483 | ||||
Schlumberger NV | 15,390 | 843,526 | ||||
1,266,669 | ||||||
Entertainment — 0.6% | ||||||
Bollore SE (France) | 7,930 | 52,982 | ||||
Capcom Co. Ltd. (Japan) | 1,200 | 22,481 | ||||
Electronic Arts, Inc. | 6,010 | 797,347 | ||||
Konami Group Corp. (Japan) | 5,200 | 354,219 | ||||
Live Nation Entertainment, Inc.* | 2,780 | 294,041 | ||||
Netflix, Inc.* | 2,620 | 1,591,204 | ||||
Nintendo Co. Ltd. (Japan) | 4,000 | 218,258 | ||||
Take-Two Interactive Software, Inc.* | 380 | 56,426 | ||||
Walt Disney Co. (The) | 16,200 | 1,982,232 | ||||
Warner Bros Discovery, Inc.* | 25,640 | 223,837 | ||||
5,593,027 | ||||||
Financial Services — 1.6% | ||||||
Adyen NV (Netherlands), 144A* | 146 | 246,614 | ||||
Berkshire Hathaway, Inc. (Class B Stock)* | 11,980 | 5,037,829 | ||||
Block, Inc.* | 10,300 | 871,174 | ||||
Corebridge Financial, Inc.(a) | 4,200 | 120,666 | ||||
Corpay, Inc.* | 160 | 49,366 | ||||
EXOR NV (Netherlands) | 600 | 66,772 | ||||
Fidelity National Information Services, Inc. | 1,510 | 112,012 | ||||
Fiserv, Inc.*(a) | 1,480 | 236,534 | ||||
Global Payments, Inc. | 650 | 86,879 | ||||
Industrivarden AB (Sweden) (Class A Stock) | 638 | 21,941 | ||||
Investor AB (Sweden) (Class B Stock) | 13,419 | 336,741 | ||||
Jack Henry & Associates, Inc. | 170 | 29,534 | ||||
Mastercard, Inc. (Class A Stock) | 6,500 | 3,130,205 | ||||
ORIX Corp. (Japan) | 4,000 | 87,487 | ||||
PayPal Holdings, Inc.* | 16,710 | 1,119,403 | ||||
Visa, Inc. (Class A Stock)(a) | 11,470 | 3,201,047 | ||||
Wise PLC (United Kingdom) (Class A Stock)* | 2,090 | 24,431 | ||||
14,778,635 |
A4
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Food Products — 0.5% | ||||||
Archer-Daniels-Midland Co. | 13,150 | $825,951 | ||||
Associated British Foods PLC (United Kingdom) | 1,675 | 52,848 | ||||
Bunge Global SA | 360 | 36,907 | ||||
Campbell Soup Co.(a) | 520 | 23,114 | ||||
Conagra Brands, Inc. | 1,260 | 37,346 | ||||
Freshpet, Inc.* | 5,600 | 648,816 | ||||
General Mills, Inc. | 1,430 | 100,057 | ||||
Hershey Co. (The) | 360 | 70,020 | ||||
Hormel Foods Corp. | 6,860 | 239,345 | ||||
J.M. Smucker Co. (The) | 250 | 31,468 | ||||
Kellanova | 700 | 40,103 | ||||
Kraft Heinz Co. (The) | 2,020 | 74,538 | ||||
Lamb Weston Holdings, Inc. | 390 | 41,547 | ||||
McCormick & Co., Inc. | 660 | 50,695 | ||||
Mondelez International, Inc. (Class A Stock) | 3,380 | 236,600 | ||||
Mowi ASA (Norway) | 24,900 | 457,381 | ||||
Nestle SA | 7,794 | 828,112 | ||||
Orkla ASA (Norway) | 2,438 | 17,219 | ||||
Pilgrim’s Pride Corp.* | 9,200 | 315,744 | ||||
Tyson Foods, Inc. (Class A Stock) | 750 | 44,048 | ||||
WH Group Ltd. (Hong Kong), 144A | 697,000 | 460,076 | ||||
Wilmar International Ltd. (China) | 28,000 | 71,123 | ||||
4,703,058 | ||||||
Gas Utilities — 0.0% | ||||||
Atmos Energy Corp. | 390 | 46,359 | ||||
Tokyo Gas Co. Ltd. (Japan) | 18,600 | 422,831 | ||||
469,190 | ||||||
Ground Transportation — 0.5% | ||||||
Central Japan Railway Co. (Japan) | 2,500 | 62,088 | ||||
CSX Corp. | 14,280 | 529,360 | ||||
J.B. Hunt Transport Services, Inc. | 190 | 37,858 | ||||
Norfolk Southern Corp. | 560 | 142,727 | ||||
Odakyu Electric Railway Co. Ltd. (Japan) | 2,300 | 31,705 | ||||
Old Dominion Freight Line, Inc. | 430 | 94,303 | ||||
Saia, Inc.* | 1,000 | 585,000 | ||||
Uber Technologies, Inc.* | 20,430 | 1,572,906 | ||||
Union Pacific Corp. | 4,500 | 1,106,685 | ||||
4,162,632 | ||||||
Health Care Equipment & Supplies — 1.0% | ||||||
Abbott Laboratories | 16,310 | 1,853,795 | ||||
Align Technology, Inc.* | 165 | 54,107 | ||||
Baxter International, Inc. | 1,340 | 57,272 | ||||
Becton, Dickinson & Co. | 5,230 | 1,294,163 | ||||
Boston Scientific Corp.* | 17,590 | 1,204,739 | ||||
Cochlear Ltd. (Australia) | 504 | 110,845 | ||||
Cooper Cos., Inc. (The) | 480 | 48,701 | ||||
Demant A/S (Denmark)* | 1,152 | 57,258 | ||||
DENTSPLY SIRONA, Inc. | 560 | 18,586 | ||||
Dexcom, Inc.* | 980 | 135,926 | ||||
Edwards Lifesciences Corp.* | 1,540 | 147,162 | ||||
GE HealthCare Technologies, Inc. | 1,060 | 96,365 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Health Care Equipment & Supplies (cont’d.) | ||||||
Getinge AB (Sweden) (Class B Stock) | 975 | $19,610 | ||||
Hologic, Inc.* | 5,900 | 459,964 | ||||
IDEXX Laboratories, Inc.* | 1,095 | 591,223 | ||||
Insulet Corp.*(a) | 150 | 25,710 | ||||
Intuitive Surgical, Inc.* | 4,370 | 1,744,023 | ||||
Medtronic PLC | 3,360 | 292,824 | ||||
ResMed, Inc.(a) | 350 | 69,311 | ||||
Sonova Holding AG (Switzerland) | 216 | 62,552 | ||||
STERIS PLC | 230 | 51,709 | ||||
Stryker Corp. | 830 | 297,032 | ||||
Teleflex, Inc. | 110 | 24,879 | ||||
Zimmer Biomet Holdings, Inc. | 540 | 71,269 | ||||
8,789,025 | ||||||
Health Care Providers & Services — 1.0% | ||||||
Cardinal Health, Inc. | 8,530 | 954,507 | ||||
Cencora, Inc. | 400 | 97,196 | ||||
Centene Corp.* | 13,250 | 1,039,860 | ||||
Cigna Group (The) | 720 | 261,497 | ||||
CVS Health Corp. | 3,160 | 252,042 | ||||
DaVita, Inc.* | 150 | 20,707 | ||||
Elevance Health, Inc. | 2,775 | 1,438,948 | ||||
Encompass Health Corp. | 900 | 74,322 | ||||
Fresenius Medical Care AG (Germany) | 4,078 | 156,696 | ||||
Fresenius SE & Co. KGaA (Germany) | 14,425 | 388,996 | ||||
HCA Healthcare, Inc. | 485 | 161,762 | ||||
Henry Schein, Inc.*(a) | 350 | 26,432 | ||||
Humana, Inc. | 290 | 100,549 | ||||
Laboratory Corp. of America Holdings | 3,310 | 723,103 | ||||
McKesson Corp. | 420 | 225,477 | ||||
Molina Healthcare, Inc.* | 135 | 55,462 | ||||
Quest Diagnostics, Inc. | 1,160 | 154,408 | ||||
Ramsay Health Care Ltd. (Australia) | 627 | 23,082 | ||||
UnitedHealth Group, Inc. | 5,565 | 2,753,005 | ||||
Universal Health Services, Inc. (Class B Stock) | 130 | 23,720 | ||||
8,931,771 | ||||||
Health Care REITs — 0.1% | ||||||
Healthpeak Properties, Inc. | 7,840 | 147,000 | ||||
Ventas, Inc. | 1,060 | 46,152 | ||||
Welltower, Inc. | 3,500 | 327,040 | ||||
520,192 | ||||||
Health Care Technology — 0.0% | ||||||
Veeva Systems, Inc. (Class A Stock)* | 2,000 | 463,380 | ||||
Hotel & Resort REITs — 0.0% | ||||||
Host Hotels & Resorts, Inc. | 1,880 | 38,878 | ||||
Park Hotels & Resorts, Inc. | 21,200 | 370,788 | ||||
409,666 | ||||||
Hotels, Restaurants & Leisure — 0.8% | ||||||
Accor SA (France) | 2,004 | 93,560 | ||||
Airbnb, Inc. (Class A Stock)* | 1,080 | 178,157 | ||||
Aristocrat Leisure Ltd. (Australia) | 3,423 | 95,847 | ||||
Booking Holdings, Inc. | 85 | 308,370 | ||||
Caesars Entertainment, Inc.* | 570 | 24,932 |
A5
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Hotels, Restaurants & Leisure (cont’d.) | ||||||
Carnival Corp.* | 2,660 | $43,464 | ||||
Chipotle Mexican Grill, Inc.* | 456 | 1,325,487 | ||||
Darden Restaurants, Inc.(a) | 680 | 113,662 | ||||
Domino’s Pizza, Inc. | 80 | 39,750 | ||||
Expedia Group, Inc.* | 330 | 45,457 | ||||
Genting Singapore Ltd. (Singapore) | 20,400 | 13,379 | ||||
Hilton Worldwide Holdings, Inc. | 5,410 | 1,154,007 | ||||
InterContinental Hotels Group PLC (United Kingdom) | 581 | 60,373 | ||||
La Francaise des Jeux SAEM (France), 144A | 2,337 | 95,251 | ||||
Las Vegas Sands Corp. | 970 | 50,149 | ||||
Marriott International, Inc. (Class A Stock) | 3,620 | 913,362 | ||||
Marriott Vacations Worldwide Corp. | 700 | 75,411 | ||||
McDonald’s Corp. | 7,210 | 2,032,859 | ||||
MGM Resorts International* | 740 | 34,935 | ||||
Norwegian Cruise Line Holdings Ltd.*(a) | 1,120 | 23,442 | ||||
Oriental Land Co. Ltd. (Japan) | 1,600 | 51,257 | ||||
Royal Caribbean Cruises Ltd.* | 570 | 79,236 | ||||
Starbucks Corp. | 2,840 | 259,548 | ||||
Whitbread PLC (United Kingdom) | 1,577 | 65,931 | ||||
Wynn Resorts Ltd. | 260 | 26,580 | ||||
Yum! Brands, Inc.(a) | 700 | 97,055 | ||||
7,301,461 | ||||||
Household Durables — 0.2% | ||||||
Barratt Developments PLC (United Kingdom) | 4,347 | 26,091 | ||||
Berkeley Group Holdings PLC (United Kingdom) | 2,526 | 151,763 | ||||
D.R. Horton, Inc. | 720 | 118,476 | ||||
Garmin Ltd. | 370 | 55,082 | ||||
Lennar Corp. (Class A Stock) | 2,290 | 393,834 | ||||
Lennar Corp. (Class B Stock) | 4,200 | 647,556 | ||||
Mohawk Industries, Inc.* | 120 | 15,707 | ||||
Newell Brands, Inc. | 9,100 | 73,073 | ||||
NVR, Inc.* | 7 | 56,700 | ||||
Persimmon PLC (United Kingdom) | 4,328 | 71,760 | ||||
PulteGroup, Inc. | 540 | 65,135 | ||||
Sony Group Corp. (Japan) | 1,800 | 154,351 | ||||
Taylor Wimpey PLC (United Kingdom) | 245,810 | 424,974 | ||||
2,254,502 | ||||||
Household Products — 0.5% | ||||||
Church & Dwight Co., Inc.(a) | 640 | 66,758 | ||||
Clorox Co. (The) | 290 | 44,402 | ||||
Colgate-Palmolive Co. | 14,610 | 1,315,630 | ||||
Essity AB (Sweden) (Class B Stock) | 20,431 | 485,321 | ||||
Henkel AG & Co. KGaA (Germany) | 368 | 26,516 | ||||
Kimberly-Clark Corp. | 840 | 108,654 | ||||
Procter & Gamble Co. (The) | 14,910 | 2,419,147 | ||||
Reckitt Benckiser Group PLC (United Kingdom) | 2,526 | 143,995 | ||||
Spectrum Brands Holdings, Inc. | 1,000 | 89,010 | ||||
4,699,433 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Independent Power & Renewable Electricity Producers — 0.1% | ||||||
AES Corp. (The) | 38,570 | $691,560 | ||||
Industrial Conglomerates — 0.6% | ||||||
3M Co. | 10,500 | 1,113,735 | ||||
CK Hutchison Holdings Ltd. (United Kingdom) | 11,000 | 52,939 | ||||
DCC PLC (United Kingdom) | 6,367 | 463,238 | ||||
General Electric Co. | 9,740 | 1,709,662 | ||||
Hitachi Ltd. (Japan) | 3,300 | 301,555 | ||||
Honeywell International, Inc. | 1,670 | 342,768 | ||||
Keppel Ltd. (Singapore) | 5,000 | 27,170 | ||||
Lifco AB (Sweden) (Class B Stock) | 1,037 | 27,081 | ||||
Siemens AG (Germany) | 5,063 | 966,724 | ||||
Smiths Group PLC (United Kingdom) | 1,727 | 35,798 | ||||
5,040,670 | ||||||
Industrial REITs — 0.2% | ||||||
Americold Realty Trust, Inc. | 13,700 | 341,404 | ||||
Goodman Group (Australia) | 16,111 | 354,882 | ||||
Prologis, Inc. | 6,180 | 804,760 | ||||
1,501,046 | ||||||
Insurance — 1.3% | ||||||
Aflac, Inc.(a) | 1,400 | 120,204 | ||||
Ageas SA/NV (Belgium) | 10,084 | 467,147 | ||||
Allianz SE (Germany) | 205 | 61,442 | ||||
Allstate Corp. (The) | 6,480 | 1,121,105 | ||||
American International Group, Inc. | 3,310 | 258,743 | ||||
Aon PLC (Class A Stock)(a) | 500 | 166,860 | ||||
Arch Capital Group Ltd.* | 990 | 91,516 | ||||
Arthur J. Gallagher & Co. | 540 | 135,022 | ||||
Assurant, Inc. | 3,560 | 670,134 | ||||
Aviva PLC (United Kingdom) | 43,904 | 275,484 | ||||
AXA SA (France) | 6,353 | 238,592 | ||||
Brown & Brown, Inc.(a) | 670 | 58,652 | ||||
Chubb Ltd. | 1,020 | 264,313 | ||||
Cincinnati Financial Corp. | 450 | 55,876 | ||||
CNA Financial Corp. | 2,200 | 99,924 | ||||
Dai-ichi Life Holdings, Inc. (Japan) | 2,800 | 71,413 | ||||
Everest Group Ltd. | 105 | 41,737 | ||||
Globe Life, Inc. | 1,160 | 134,989 | ||||
Hartford Financial Services Group, Inc. (The) | 820 | 84,501 | ||||
Japan Post Holdings Co. Ltd. (Japan) | 22,800 | 229,713 | ||||
Japan Post Insurance Co. Ltd. (Japan) | 900 | 17,204 | ||||
Loews Corp. | 7,610 | 595,787 | ||||
Marsh & McLennan Cos., Inc. | 5,340 | 1,099,933 | ||||
Medibank Private Ltd. (Australia) | 194,597 | 476,787 | ||||
MetLife, Inc. | 15,100 | 1,119,061 | ||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Germany) | 1,447 | 706,340 | ||||
NN Group NV (Netherlands) | 2,945 | 135,956 | ||||
Phoenix Group Holdings PLC (United Kingdom) | 2,590 | 18,085 | ||||
Poste Italiane SpA (Italy), 144A | 3,715 | 46,527 | ||||
Principal Financial Group, Inc. | 600 | 51,786 | ||||
Progressive Corp. (The) | 3,960 | 819,007 |
A6
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Insurance (cont’d.) | ||||||
QBE Insurance Group Ltd. (Australia) | 6,613 | $78,170 | ||||
Sampo OYJ (Finland) (Class A Stock) | 1,588 | 67,738 | ||||
T&D Holdings, Inc. (Japan) | 1,600 | 27,815 | ||||
Talanx AG (Germany) | 560 | 44,362 | ||||
Tokio Marine Holdings, Inc. (Japan) | 17,600 | 551,694 | ||||
Travelers Cos., Inc. (The) | 3,590 | 826,203 | ||||
W.R. Berkley Corp.(a) | 550 | 48,642 | ||||
Willis Towers Watson PLC | 260 | 71,500 | ||||
11,449,964 | ||||||
Interactive Media & Services — 2.2% | ||||||
Alphabet, Inc. (Class A Stock)* | 47,680 | 7,196,342 | ||||
Alphabet, Inc. (Class C Stock)* | 34,990 | 5,327,577 | ||||
Auto Trader Group PLC (United Kingdom), 144A | 2,160 | 19,075 | ||||
CAR Group Ltd. (Australia) | 1,512 | 35,541 | ||||
Match Group, Inc.* | 730 | 26,484 | ||||
Meta Platforms, Inc. (Class A Stock) | 15,630 | 7,589,616 | ||||
Scout24 SE (Germany), 144A | 263 | 19,814 | ||||
20,214,449 | ||||||
IT Services — 0.6% | ||||||
Accenture PLC (Class A Stock) | 3,015 | 1,045,029 | ||||
Akamai Technologies, Inc.*(a) | 5,900 | 641,684 | ||||
Cognizant Technology Solutions Corp. (Class A Stock) | 12,770 | 935,913 | ||||
EPAM Systems, Inc.* | 135 | 37,282 | ||||
Gartner, Inc.* | 190 | 90,567 | ||||
International Business Machines Corp. | 9,260 | 1,768,290 | ||||
TIS, Inc. (Japan) | 6,700 | 143,754 | ||||
VeriSign, Inc.* | 200 | 37,902 | ||||
Wix.com Ltd. (Israel)* | 3,400 | 467,432 | ||||
5,167,853 | ||||||
Leisure Products — 0.0% | ||||||
Hasbro, Inc. | 350 | 19,782 | ||||
Shimano, Inc. (Japan) | 200 | 29,753 | ||||
49,535 | ||||||
Life Sciences Tools & Services — 0.5% | ||||||
Agilent Technologies, Inc.(a) | 740 | 107,677 | ||||
Bio-Rad Laboratories, Inc. (Class A Stock)* | 40 | 13,835 | ||||
Bio-Techne Corp.(a) | 420 | 29,564 | ||||
Charles River Laboratories International, Inc.* | 140 | 37,933 | ||||
Danaher Corp. | 2,520 | 629,294 | ||||
Illumina, Inc.* | 1,480 | 203,234 | ||||
IQVIA Holdings, Inc.*(a) | 440 | 111,272 | ||||
Medpace Holdings, Inc.* | 1,700 | 687,055 | ||||
Mettler-Toledo International, Inc.* | 52 | 69,227 | ||||
Revvity, Inc. | 330 | 34,650 | ||||
Thermo Fisher Scientific, Inc. | 2,710 | 1,575,079 | ||||
Waters Corp.* | 135 | 46,471 | ||||
West Pharmaceutical Services, Inc. | 2,475 | 979,382 | ||||
4,524,673 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Machinery — 0.9% | ||||||
Alfa Laval AB (Sweden) | 1,002 | $39,373 | ||||
Allison Transmission Holdings, Inc. | 8,000 | 649,280 | ||||
Atlas Copco AB (Sweden) (Class A Stock) | 9,456 | 159,698 | ||||
Atlas Copco AB (Sweden) (Class B Stock) | 5,512 | 81,412 | ||||
Caterpillar, Inc. | 1,965 | 720,035 | ||||
Cummins, Inc. | 730 | 215,094 | ||||
Daimler Truck Holding AG (Germany) | 3,107 | 157,447 | ||||
Deere & Co. | 3,350 | 1,375,979 | ||||
Donaldson Co., Inc. | 900 | 67,212 | ||||
Dover Corp. | 330 | 58,473 | ||||
Epiroc AB (Sweden) (Class B Stock) | 1,900 | 32,176 | ||||
Flowserve Corp. | 16,700 | 762,856 | ||||
Fortive Corp. | 890 | 76,558 | ||||
GEA Group AG (Germany) | 11,500 | 486,222 | ||||
Graco, Inc. | 6,400 | 598,144 | ||||
IDEX Corp. | 160 | 39,043 | ||||
Illinois Tool Works, Inc. | 650 | 174,414 | ||||
Indutrade AB (Sweden) | 1,160 | 31,595 | ||||
Ingersoll Rand, Inc. | 1,010 | 95,900 | ||||
ITT, Inc. | 3,400 | 462,502 | ||||
Nordson Corp. | 130 | 35,690 | ||||
Otis Worldwide Corp.(a) | 1,730 | 171,737 | ||||
PACCAR, Inc. | 1,320 | 163,535 | ||||
Parker-Hannifin Corp. | 310 | 172,295 | ||||
Pentair PLC | 440 | 37,594 | ||||
Rational AG (Germany) | 44 | 37,910 | ||||
Schindler Holding AG (Switzerland) | 119 | 29,037 | ||||
Schindler Holding AG (Switzerland) (Part. Cert.) | 203 | 51,099 | ||||
SKF AB (Sweden) (Class B Stock) | 1,955 | 39,911 | ||||
Snap-on, Inc.(a) | 120 | 35,546 | ||||
Stanley Black & Decker, Inc. | 410 | 40,151 | ||||
Toyota Industries Corp. (Japan) | 1,300 | 136,020 | ||||
Volvo AB (Sweden) (Class A Stock) | 975 | 26,848 | ||||
Volvo AB (Sweden) (Class B Stock) | 20,804 | 563,819 | ||||
Wartsila OYJ Abp (Finland) | 2,760 | 41,945 | ||||
Westinghouse Air Brake Technologies Corp. | 960 | 139,853 | ||||
Xylem, Inc.(a) | 600 | 77,544 | ||||
8,083,947 | ||||||
Marine Transportation — 0.0% | ||||||
AP Moller - Maersk A/S (Denmark) (Class A Stock) | 15 | 19,220 | ||||
Media — 0.3% | ||||||
Charter Communications, Inc. (Class A Stock)*(a) | 450 | 130,783 | ||||
Comcast Corp. (Class A Stock) | 34,080 | 1,477,368 | ||||
Dentsu Group, Inc. (Japan) | 2,000 | 55,533 | ||||
Fox Corp. (Class A Stock) | 690 | 21,576 | ||||
Fox Corp. (Class B Stock) | 350 | 10,017 | ||||
Informa PLC (United Kingdom) | 7,099 | 74,483 | ||||
Interpublic Group of Cos., Inc. (The) | 1,020 | 33,283 | ||||
News Corp. (Class A Stock) | 1,000 | 26,180 | ||||
News Corp. (Class B Stock) | 310 | 8,389 |
A7
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Media (cont’d.) | ||||||
Omnicom Group, Inc. | 510 | $49,348 | ||||
Paramount Global (Class B Stock)(a) | 1,270 | 14,948 | ||||
Publicis Groupe SA (France) | 3,423 | 373,177 | ||||
Vivendi SE (France) | 22,291 | 242,924 | ||||
2,518,009 | ||||||
Metals & Mining — 0.5% | ||||||
ArcelorMittal SA (Luxembourg) | 18,140 | 498,616 | ||||
BHP Group Ltd. (Australia) | 20,234 | 585,045 | ||||
BlueScope Steel Ltd. (Australia) | 31,250 | 486,035 | ||||
Fortescue Ltd. (Australia) | 13,333 | 223,128 | ||||
Freeport-McMoRan, Inc. | 21,610 | 1,016,102 | ||||
Glencore PLC (Australia) | 64,426 | 353,542 | ||||
JFE Holdings, Inc. (Japan) | 2,600 | 43,091 | ||||
Newmont Corp.(a) | 2,920 | 104,653 | ||||
Nippon Steel Corp. (Japan) | 11,600 | 279,148 | ||||
Northern Star Resources Ltd. (Australia) | 2,704 | 25,514 | ||||
Nucor Corp. | 2,020 | 399,758 | ||||
Reliance, Inc. | 600 | 200,508 | ||||
Rio Tinto Ltd. (Australia) | 1,335 | 105,953 | ||||
Rio Tinto PLC (Australia) | 6,262 | 395,914 | ||||
SSR Mining, Inc. (Canada) | 31,500 | 140,490 | ||||
Steel Dynamics, Inc. | 370 | 54,845 | ||||
voestalpine AG (Austria) | 510 | 14,307 | ||||
4,926,649 | ||||||
Multi-Utilities — 0.3% | ||||||
Ameren Corp. | 690 | 51,032 | ||||
CenterPoint Energy, Inc. | 1,660 | 47,293 | ||||
Centrica PLC (United Kingdom) | 278,850 | 449,523 | ||||
CMS Energy Corp. | 11,670 | 704,168 | ||||
Consolidated Edison, Inc. | 870 | 79,005 | ||||
Dominion Energy, Inc.(a) | 2,120 | 104,283 | ||||
DTE Energy Co. | 6,410 | 718,817 | ||||
Engie SA (France) | 24,580 | 411,896 | ||||
NiSource, Inc. | 8,490 | 234,833 | ||||
Public Service Enterprise Group, Inc. | 1,260 | 84,143 | ||||
Sembcorp Industries Ltd. (Singapore) | 3,900 | 15,591 | ||||
Sempra | 1,600 | 114,928 | ||||
WEC Energy Group, Inc.(a) | 790 | 64,875 | ||||
3,080,387 | ||||||
Office REITs — 0.0% | ||||||
Alexandria Real Estate Equities, Inc.(a) | 370 | 47,697 | ||||
Boston Properties, Inc.(a) | 380 | 24,818 | ||||
Dexus (Australia) | 3,675 | 18,936 | ||||
Gecina SA (France) | 210 | 21,450 | ||||
Nippon Building Fund, Inc. (Japan) | 5 | 20,000 | ||||
132,901 | ||||||
Oil, Gas & Consumable Fuels — 1.5% | ||||||
APA Corp. | 910 | 31,286 | ||||
Cheniere Energy, Inc. | 5,700 | 919,296 | ||||
Chevron Corp. | 9,080 | 1,432,279 | ||||
ConocoPhillips | 11,200 | 1,425,536 | ||||
Coterra Energy, Inc. | 5,220 | 145,534 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Oil, Gas & Consumable Fuels (cont’d.) | ||||||
Devon Energy Corp. | 1,610 | $80,790 | ||||
Diamondback Energy, Inc. | 1,730 | 342,834 | ||||
ENEOS Holdings, Inc. (Japan) | 13,200 | 63,596 | ||||
EOG Resources, Inc. | 5,840 | 746,586 | ||||
EQT Corp.(a) | 950 | 35,216 | ||||
Equinor ASA (Norway) | 18,962 | 508,455 | ||||
Exxon Mobil Corp. | 31,590 | 3,672,022 | ||||
Galp Energia SGPS SA (Portugal) | 1,869 | 30,899 | ||||
Hess Corp. | 690 | 105,322 | ||||
Inpex Corp. (Japan) | 34,100 | 518,360 | ||||
Kinder Morgan, Inc. | 4,910 | 90,049 | ||||
Marathon Oil Corp. | 1,510 | 42,793 | ||||
Marathon Petroleum Corp. | 3,810 | 767,715 | ||||
Occidental Petroleum Corp.(a) | 1,670 | 108,533 | ||||
ONEOK, Inc. | 1,480 | 118,652 | ||||
Phillips 66 | 6,450 | 1,053,543 | ||||
Pioneer Natural Resources Co. | 580 | 152,250 | ||||
Shell PLC (Netherlands) | 23,704 | 786,487 | ||||
Targa Resources Corp. | 580 | 64,954 | ||||
TotalEnergies SE (France) | 8,220 | 565,449 | ||||
Valero Energy Corp.(a) | 850 | 145,086 | ||||
Williams Cos., Inc. (The) | 3,100 | 120,807 | ||||
14,074,329 | ||||||
Passenger Airlines — 0.1% | ||||||
American Airlines Group, Inc.* | 1,780 | 27,323 | ||||
ANA Holdings, Inc. (Japan) | 9,300 | 194,363 | ||||
Delta Air Lines, Inc.(a) | 1,640 | 78,507 | ||||
Deutsche Lufthansa AG (Germany)* | 2,669 | 20,976 | ||||
Japan Airlines Co. Ltd. (Japan) | 7,500 | 142,408 | ||||
Singapore Airlines Ltd. (Singapore) | 7,200 | 34,124 | ||||
Southwest Airlines Co. | 1,510 | 44,077 | ||||
United Airlines Holdings, Inc.* | 870 | 41,656 | ||||
583,434 | ||||||
Personal Care Products — 0.1% | ||||||
Estee Lauder Cos., Inc. (The) (Class A Stock)(a) | 570 | 87,866 | ||||
Kenvue, Inc. | 4,380 | 93,995 | ||||
L’Oreal SA (France) | 132 | 62,511 | ||||
Unilever PLC (United Kingdom) | 14,963 | 751,170 | ||||
995,542 | ||||||
Pharmaceuticals — 2.2% | ||||||
AstraZeneca PLC (United Kingdom) | 2,781 | 373,610 | ||||
Bristol-Myers Squibb Co. | 28,830 | 1,563,451 | ||||
Catalent, Inc.* | 480 | 27,096 | ||||
Chugai Pharmaceutical Co. Ltd. (Japan) | 3,000 | 114,646 | ||||
Daiichi Sankyo Co. Ltd. (Japan) | 6,300 | 200,459 | ||||
Elanco Animal Health, Inc.* | 28,900 | 470,492 | ||||
Eli Lilly & Co. | 5,230 | 4,068,731 | ||||
GSK PLC | 29,587 | 635,245 | ||||
Hikma Pharmaceuticals PLC (Jordan) | 1,155 | 27,941 | ||||
Ipsen SA (France) | 132 | 15,708 | ||||
Johnson & Johnson | 20,650 | 3,266,623 | ||||
Merck & Co., Inc. | 21,810 | 2,877,829 |
A8
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Pharmaceuticals (cont’d.) | ||||||
Novartis AG (Switzerland) | 11,547 | $1,118,424 | ||||
Novo Nordisk A/S (Denmark) (Class B Stock) | 15,270 | 1,958,735 | ||||
Ono Pharmaceutical Co. Ltd. (Japan) | 6,600 | 108,141 | ||||
Orion OYJ (Finland) (Class B Stock) | 368 | 13,718 | ||||
Otsuka Holdings Co. Ltd. (Japan) | 10,700 | 444,460 | ||||
Pfizer, Inc. | 20,120 | 558,330 | ||||
Roche Holding AG | 1,992 | 508,596 | ||||
Sandoz Group AG (Switzerland)* | 2,028 | 61,217 | ||||
Sanofi SA | 3,812 | 370,848 | ||||
Shionogi & Co. Ltd. (Japan) | 9,500 | 485,467 | ||||
Takeda Pharmaceutical Co. Ltd. (Japan) | 5,600 | 155,758 | ||||
Teva Pharmaceutical Industries Ltd. (Israel), ADR* | 3,900 | 55,029 | ||||
Viatris, Inc.(a) | 3,160 | 37,730 | ||||
Zoetis, Inc.(a) | 1,130 | 191,207 | ||||
19,709,491 | ||||||
Professional Services — 0.4% | ||||||
Automatic Data Processing, Inc. | 3,350 | 836,629 | ||||
Broadridge Financial Solutions, Inc. | 270 | 55,312 | ||||
Computershare Ltd. (Australia) | 2,520 | 42,923 | ||||
Dayforce, Inc.* | 410 | 27,146 | ||||
Dun & Bradstreet Holdings, Inc. | 58,000 | 582,320 | ||||
Equifax, Inc. | 290 | 77,581 | ||||
Experian PLC | 3,252 | 141,699 | ||||
Jacobs Solutions, Inc. | 290 | 44,582 | ||||
Leidos Holdings, Inc. | 5,420 | 710,508 | ||||
Paychex, Inc. | 810 | 99,468 | ||||
Paycom Software, Inc. | 120 | 23,881 | ||||
Recruit Holdings Co. Ltd. (Japan) | 15,300 | 671,774 | ||||
Robert Half, Inc.(a) | 290 | 22,991 | ||||
SS&C Technologies Holdings, Inc. | 1,100 | 70,807 | ||||
Verisk Analytics, Inc. | 340 | 80,148 | ||||
Wolters Kluwer NV (Netherlands) | 878 | 137,486 | ||||
3,625,255 | ||||||
Real Estate Management & Development — 0.2% | ||||||
CBRE Group, Inc. (Class A Stock)* | 740 | 71,958 | ||||
CoStar Group, Inc.* | 1,020 | 98,532 | ||||
Daito Trust Construction Co. Ltd. (Japan) | 200 | 22,816 | ||||
Daiwa House Industry Co. Ltd. (Japan) | 2,100 | 62,507 | ||||
Hulic Co. Ltd. (Japan) | 1,700 | 17,460 | ||||
Jones Lang LaSalle, Inc.* | 2,400 | 468,216 | ||||
Mitsui Fudosan Co. Ltd. (Japan) | 9,300 | 100,268 | ||||
Nomura Real Estate Holdings, Inc. (Japan) | 9,900 | 279,688 | ||||
Swire Pacific Ltd. (Hong Kong) (Class A Stock) | 1,500 | 12,348 | ||||
Zillow Group, Inc. (Class A Stock)* | 2,500 | 119,650 | ||||
Zillow Group, Inc. (Class C Stock)* | 3,600 | 175,608 | ||||
1,429,051 | ||||||
Residential REITs — 0.1% | ||||||
AvalonBay Communities, Inc. | 340 | 63,090 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Residential REITs (cont’d.) | ||||||
Camden Property Trust(a) | 290 | $28,536 | ||||
Equity Residential | 14,470 | 913,202 | ||||
Essex Property Trust, Inc.(a) | 170 | 41,618 | ||||
Invitation Homes, Inc. | 1,460 | 51,990 | ||||
Mid-America Apartment Communities, Inc. | 270 | 35,527 | ||||
UDR, Inc. | 800 | 29,928 | ||||
1,163,891 | ||||||
Retail REITs — 0.2% | ||||||
Federal Realty Investment Trust | 200 | 20,424 | ||||
Kimco Realty Corp. | 5,330 | 104,521 | ||||
Klepierre SA (France) | 7,197 | 186,298 | ||||
Realty Income Corp.(a) | 6,790 | 367,339 | ||||
Regency Centers Corp. | 440 | 26,646 | ||||
Scentre Group (Australia) | 28,009 | 61,859 | ||||
Simon Property Group, Inc. | 820 | 128,322 | ||||
Unibail-Rodamco-Westfield (France)* | 1,188 | 95,570 | ||||
Vicinity Ltd. (Australia) | 344,507 | 478,188 | ||||
1,469,167 | ||||||
Semiconductors & Semiconductor Equipment — 3.9% | ||||||
Advanced Micro Devices, Inc.* | 8,210 | 1,481,823 | ||||
Analog Devices, Inc. | 1,230 | 243,282 | ||||
Applied Materials, Inc. | 7,900 | 1,629,217 | ||||
ASM International NV (Netherlands) | 612 | 374,790 | ||||
ASML Holding NV (Netherlands) | 1,547 | 1,499,758 | ||||
Broadcom, Inc. | 2,666 | 3,533,543 | ||||
Disco Corp. (Japan) | 1,500 | 548,300 | ||||
Enphase Energy, Inc.* | 360 | 43,553 | ||||
First Solar, Inc.* | 250 | 42,200 | ||||
Intel Corp. | 46,610 | 2,058,764 | ||||
KLA Corp. | 330 | 230,528 | ||||
Lam Research Corp. | 1,725 | 1,675,958 | ||||
Microchip Technology, Inc. | 1,380 | 123,800 | ||||
Micron Technology, Inc. | 14,060 | 1,657,534 | ||||
Monolithic Power Systems, Inc. | 110 | 74,516 | ||||
NVIDIA Corp. | 17,900 | 16,173,724 | ||||
NXP Semiconductors NV (China) | 640 | 158,573 | ||||
ON Semiconductor Corp.* | 1,100 | 80,905 | ||||
Qorvo, Inc.* | 3,970 | 455,875 | ||||
QUALCOMM, Inc. | 12,520 | 2,119,636 | ||||
Renesas Electronics Corp. (Japan) | 6,700 | 119,399 | ||||
Skyworks Solutions, Inc. | 420 | 45,494 | ||||
Teradyne, Inc. | 410 | 46,260 | ||||
Texas Instruments, Inc. | 3,240 | 564,440 | ||||
Tokyo Electron Ltd. (Japan) | 2,300 | 599,033 | ||||
35,580,905 | ||||||
Software — 4.0% | ||||||
Adobe, Inc.* | 3,775 | 1,904,865 | ||||
ANSYS, Inc.* | 210 | 72,904 | ||||
Autodesk, Inc.* | 520 | 135,418 | ||||
Cadence Design Systems, Inc.* | 4,370 | 1,360,294 | ||||
Check Point Software Technologies Ltd. (Israel)*(a) | 400 | 65,604 |
A9
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Software (cont’d.) | ||||||
Crowdstrike Holdings, Inc. (Class A Stock)* | 2,500 | $801,475 | ||||
Dynatrace, Inc.* | 6,400 | 297,216 | ||||
Fair Isaac Corp.* | 60 | 74,977 | ||||
Fortinet, Inc.* | 1,630 | 111,345 | ||||
Gen Digital, Inc. | 1,480 | 33,152 | ||||
Informatica, Inc. (Class A Stock)* | 9,600 | 336,000 | ||||
Intuit, Inc. | 1,195 | 776,750 | ||||
Microsoft Corp. | 54,600 | 22,971,312 | ||||
Monday.com Ltd.* | 100 | 22,587 | ||||
Nemetschek SE (Germany) | 1,637 | 162,035 | ||||
Nice Ltd. (Israel)* | 291 | 75,730 | ||||
Nutanix, Inc. (Class A Stock)* | 1,700 | 104,924 | ||||
Oracle Corp. | 6,390 | 802,648 | ||||
Palo Alto Networks, Inc.*(a) | 785 | 223,042 | ||||
PTC, Inc.* | 280 | 52,903 | ||||
Roper Technologies, Inc.(a) | 1,160 | 650,574 | ||||
Salesforce, Inc. | 5,760 | 1,734,797 | ||||
SAP SE (Germany) | 1,726 | 336,085 | ||||
ServiceNow, Inc.* | 2,455 | 1,871,692 | ||||
Synopsys, Inc.* | 780 | 445,770 | ||||
Tyler Technologies, Inc.* | 100 | 42,501 | ||||
Workday, Inc. (Class A Stock)* | 3,400 | 927,350 | ||||
Zoom Video Communications, Inc. (Class A Stock)* | 2,700 | 176,499 | ||||
36,570,449 | ||||||
Specialized REITs — 0.4% | ||||||
American Tower Corp. | 1,190 | 235,132 | ||||
Crown Castle, Inc. | 7,190 | 760,918 | ||||
Digital Realty Trust, Inc. | 1,460 | 210,298 | ||||
Equinix, Inc. | 425 | 350,765 | ||||
Extra Space Storage, Inc. | 520 | 76,440 | ||||
Iron Mountain, Inc. | 5,730 | 459,603 | ||||
Public Storage | 3,180 | 922,391 | ||||
SBA Communications Corp. | 255 | 55,259 | ||||
VICI Properties, Inc. | 2,670 | 79,539 | ||||
Weyerhaeuser Co. | 1,850 | 66,434 | ||||
3,216,779 | ||||||
Specialty Retail — 0.8% | ||||||
AutoZone, Inc.* | 151 | 475,899 | ||||
Bath & Body Works, Inc. | 2,010 | 100,540 | ||||
Best Buy Co., Inc. | 500 | 41,015 | ||||
CarMax, Inc.* | 420 | 36,586 | ||||
Gap, Inc. (The) | 3,300 | 90,915 | ||||
Home Depot, Inc. (The) | 7,025 | 2,694,790 | ||||
Industria de Diseno Textil SA (Spain) | 13,127 | 661,027 | ||||
Lowe’s Cos., Inc. | 6,210 | 1,581,874 | ||||
O’Reilly Automotive, Inc.*(a) | 143 | 161,430 | ||||
Petco Health & Wellness Co., Inc.* | 49,000 | 111,720 | ||||
Ross Stores, Inc. | 820 | 120,343 | ||||
TJX Cos., Inc. (The) | 5,380 | 545,640 | ||||
Tractor Supply Co.(a) | 250 | 65,430 | ||||
Ulta Beauty, Inc.* | 1,415 | 739,875 | ||||
Victoria’s Secret & Co.* | 3,700 | 71,706 | ||||
7,498,790 |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Technology Hardware, Storage & Peripherals — 2.2% | ||||||
Apple, Inc. | 100,640 | $17,257,747 | ||||
Brother Industries Ltd. (Japan) | 1,000 | 18,546 | ||||
Canon, Inc. (Japan) | 3,800 | 113,221 | ||||
Hewlett Packard Enterprise Co. | 47,930 | 849,799 | ||||
HP, Inc. | 21,520 | 650,334 | ||||
Logitech International SA (Switzerland) | 5,511 | 493,837 | ||||
NetApp, Inc. | 1,820 | 191,045 | ||||
Seagate Technology Holdings PLC | 510 | 47,456 | ||||
Seiko Epson Corp. (Japan) | 7,500 | 131,194 | ||||
Super Micro Computer, Inc.*(a) | 114 | 115,144 | ||||
Western Digital Corp.* | 840 | 57,322 | ||||
19,925,645 | ||||||
Textiles, Apparel & Luxury Goods — 0.4% | ||||||
Cie Financiere Richemont SA (Switzerland) (Class A Stock) | 837 | 127,425 | ||||
Deckers Outdoor Corp.* | 955 | 898,903 | ||||
Hermes International SCA (France) | 289 | 738,621 | ||||
Lululemon Athletica, Inc.*(a) | 275 | 107,429 | ||||
LVMH Moet Hennessy Louis Vuitton SE (France) | 634 | 570,471 | ||||
NIKE, Inc. (Class B Stock) | 3,050 | 286,639 | ||||
Pandora A/S (Denmark) | 579 | 93,454 | ||||
Ralph Lauren Corp. | 1,980 | 371,765 | ||||
Tapestry, Inc. | 610 | 28,963 | ||||
VF Corp. | 870 | 13,346 | ||||
3,237,016 | ||||||
Tobacco — 0.2% | ||||||
Altria Group, Inc. | 15,830 | 690,505 | ||||
British American Tobacco PLC (United Kingdom) | 7,489 | 227,299 | ||||
Imperial Brands PLC (United Kingdom) | 9,001 | 201,214 | ||||
Japan Tobacco, Inc. (Japan) | 3,300 | 87,984 | ||||
Philip Morris International, Inc. | 4,990 | 457,184 | ||||
1,664,186 | ||||||
Trading Companies & Distributors — 0.3% | ||||||
AerCap Holdings NV (Ireland)*(a) | 6,100 | 530,151 | ||||
Brenntag SE (Germany) | 493 | 41,551 | ||||
Fastenal Co.(a) | 1,460 | 112,624 | ||||
ITOCHU Corp. (Japan) | 700 | 30,072 | ||||
Mitsubishi Corp. (Japan) | 18,600 | 429,869 | ||||
Mitsui & Co. Ltd. (Japan) | 10,600 | 495,567 | ||||
MSC Industrial Direct Co., Inc. (Class A Stock) | 700 | 67,928 | ||||
United Rentals, Inc. | 165 | 118,983 | ||||
W.W. Grainger, Inc. | 710 | 722,283 | ||||
2,549,028 | ||||||
Transportation Infrastructure — 0.0% | ||||||
Aena SME SA (Spain), 144A | 378 | 74,448 | ||||
Water Utilities — 0.0% | ||||||
American Water Works Co., Inc. | 510 | 62,327 | ||||
Wireless Telecommunication Services — 0.0% | ||||||
Tele2 AB (Sweden) (Class B Stock) | 2,327 | 19,108 | ||||
T-Mobile US, Inc. | 1,280 | 208,922 |
A10
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Shares | Value | |||||
Common Stocks (continued) | ||||||
Wireless Telecommunication Services (cont’d.) | ||||||
Vodafone Group PLC (United Kingdom) | 81,310 | $72,116 | ||||
300,146 | ||||||
Total Common Stocks (cost $320,391,349) | 393,761,044 | |||||
Preferred Stocks — 0.0% | ||||||
Automobiles — 0.0% | ||||||
Bayerische Motoren Werke AG (Germany) (PRFC) | 288 | 30,903 | ||||
Household Products — 0.0% | ||||||
Henkel AG & Co. KGaA (Germany) (PRFC) | 3,586 | 288,229 | ||||
Total Preferred Stocks (cost $296,589) | 319,132 | |||||
Unaffiliated Exchange-Traded Funds — 0.2% | ||||||
iShares Core S&P 500 ETF | 2,400 | 1,261,752 | ||||
iShares MSCI EAFE ETF | 6,610 | 527,875 | ||||
Total Unaffiliated Exchange-Traded Funds (cost $1,557,627) | 1,789,627 |
Interest Rate | Maturity Date | Principal Amount (000)# | ||||
Asset-Backed Securities — 3.9% | ||||||
Automobiles — 1.0% | ||||||
AmeriCredit Automobile Receivables Trust, | ||||||
Series 2023-01, Class C | ||||||
5.800% | 12/18/28 | 400 | 403,112 | |||
Avis Budget Rental Car Funding AESOP LLC, | ||||||
Series 2022-04A, Class A, 144A | ||||||
4.770% | 02/20/29 | 1,710 | 1,683,090 | |||
Series 2023-03A, Class A, 144A | ||||||
5.440% | 02/22/28 | 400 | 402,318 | |||
BOF VII AL Funding Trust I, | ||||||
Series 2023-CAR03, Class A2, 144A | ||||||
6.291% | 07/26/32 | 291 | 292,387 | |||
Series 2023-CAR03, Class B, 144A | ||||||
6.632% | 07/26/32 | 145 | 146,385 | |||
Chase Auto Owner Trust, | ||||||
Series 2022-AA, Class B, 144A | ||||||
4.460% | 04/25/28 | 200 | 196,074 | |||
Ford Credit Auto Owner Trust, | ||||||
Series 2024-01, Class A, 144A | ||||||
4.870% | 08/15/36 | 600 | 598,773 | |||
Ford Credit Floorplan Master Owner Trust, | ||||||
Series 2023-01, Class A1, 144A | ||||||
4.920% | 05/15/28 | 500 | 497,534 | |||
GM Financial Revolving Receivables Trust, | ||||||
Series 2023-02, Class A, 144A | ||||||
5.770% | 08/11/36 | 500 | 516,185 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Automobiles (cont’d.) | |||||||
OneMain Direct Auto Receivables Trust, | |||||||
Series 2022-01A, Class A1, 144A | |||||||
4.650% | 03/14/29 | 1,500 | $1,485,431 | ||||
Santander Drive Auto Receivables Trust, | |||||||
Series 2022-03, Class C | |||||||
4.490% | 08/15/29 | 2,000 | 1,961,848 | ||||
Series 2022-06, Class C | |||||||
4.960% | 11/15/28 | 300 | 296,618 | ||||
Wheels Fleet Lease Funding LLC, | |||||||
Series 2023-01A, Class A, 144A | |||||||
5.800% | 04/18/38 | 500 | 500,300 | ||||
8,980,055 | |||||||
Collateralized Loan Obligations — 2.8% | |||||||
Anchorage Capital CLO Ltd. (Cayman Islands), | |||||||
Series 2020-16A, Class A1R, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%) | |||||||
6.771%(c) | 01/19/35 | 500 | 498,410 | ||||
Series 2022-25A, Class A1, 144A, 3 Month SOFR + 1.390% (Cap N/A, Floor 1.390%) | |||||||
6.708%(c) | 04/20/35 | 1,000 | 997,800 | ||||
Apidos CLO Ltd. (United Kingdom), | |||||||
Series 2023-44A, Class A1, 144A, 3 Month SOFR + 2.000% (Cap N/A, Floor 2.000%) | |||||||
7.324%(c) | 04/26/35 | 2,000 | 2,007,392 | ||||
Bain Capital Credit CLO Ltd. (Cayman Islands), | |||||||
Series 2019-02A, Class AR, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | |||||||
6.678%(c) | 10/17/32 | 1,000 | 1,002,055 | ||||
Battalion CLO Ltd. (Cayman Islands), | |||||||
Series 2019-16A, Class AR, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%) | |||||||
6.699%(c) | 12/19/32 | 2,250 | 2,253,660 | ||||
CBAM Ltd. (Cayman Islands), | |||||||
Series 2020-12A, Class AR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.442%) | |||||||
6.759%(c) | 07/20/34 | 750 | 749,926 | ||||
CQS US CLO Ltd. (United Kingdom), | |||||||
Series 2023-03A, Class A1, 144A, 3 Month SOFR + 1.890% (Cap N/A, Floor 1.890%) | |||||||
7.209%(c) | 01/25/37 | 1,000 | 999,154 | ||||
Crown City CLO (Cayman Islands), | |||||||
Series 2022-04A, Class A1R, 144A, 3 Month SOFR + 1.610% (Cap N/A, Floor 1.610%) | |||||||
6.939%(c) | 04/20/37 | 1,000 | 1,000,176 | ||||
Elmwood CLO Ltd. (Cayman Islands), | |||||||
Series 2024-01A, Class A1, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%) | |||||||
6.819%(c) | 04/17/37 | 1,000 | 1,004,179 | ||||
Generate CLO Ltd. (Cayman Islands), | |||||||
Series 4A, Class A1R, 144A, 3 Month SOFR + 1.352% (Cap N/A, Floor 1.090%) | |||||||
6.669%(c) | 04/20/32 | 930 | 929,681 | ||||
HPS Loan Management Ltd. (Cayman Islands), | |||||||
Series 2016-10A, Class A1RR, 144A, 3 Month SOFR + 1.402% (Cap N/A, Floor 1.140%) | |||||||
6.719%(c) | 04/20/34 | 1,000 | 1,000,565 |
A11
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
Jefferson Mill CLO Ltd. (Cayman Islands), | |||||||
Series 2015-01A, Class ARR, 144A, 3 Month SOFR + 1.230% (Cap N/A, Floor 1.230%) | |||||||
6.555% | 10/20/31 | 1,000 | $1,000,000 | ||||
KKR Static CLO Ltd. (Cayman Islands), | |||||||
Series 2022-02A, Class A1, 144A, 3 Month SOFR + 2.220% (Cap N/A, Floor 2.220%) | |||||||
7.538%(c) | 10/20/31 | 1,531 | 1,532,178 | ||||
Ocean Trails CLO Ltd. (United Kingdom), | |||||||
Series 2024-15A, Class A, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%) | |||||||
7.022%(c) | 01/15/37 | 1,000 | 1,003,392 | ||||
Palmer Square Loan Funding Ltd. (Cayman Islands), | |||||||
Series 2022-03A, Class A1AR, 144A, 3 Month SOFR + 1.100% (Cap N/A, Floor 1.100%) | |||||||
6.421%(c) | 04/15/31 | 1,000 | 1,000,230 | ||||
PPM CLO Ltd. (Cayman Islands), | |||||||
Series 2019-02A, Class AR, 144A, 3 Month SOFR + 1.500% (Cap N/A, Floor 1.500%) | |||||||
6.826%(c) | 04/16/37 | 1,000 | 1,000,178 | ||||
Rockford Tower CLO Ltd., | |||||||
Series 2022-02A, Class A1R, 144A, 3 Month SOFR + 1.850% (Cap N/A, Floor 1.850%) | |||||||
7.168%(c) | 10/20/35 | 3,000 | 3,028,564 | ||||
TICP CLO Ltd. (Cayman Islands), | |||||||
Series 2018-11A, Class AR, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%) | |||||||
6.816%(c) | 04/25/37 | 1,000 | 1,000,180 | ||||
Trinitas CLO Ltd. (Bermuda), | |||||||
Series 2024-24A, Class A1, 144A, 3 Month SOFR + 1.600% (Cap N/A, Floor 1.600%) | |||||||
6.878%(c) | 04/25/37 | 1,000 | 999,559 | ||||
Wellfleet CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | |||||||
6.678%(c) | 07/17/31 | 2,154 | 2,155,557 | ||||
25,162,836 | |||||||
Consumer Loans — 0.1% | |||||||
OneMain Financial Issuance Trust, | |||||||
Series 2022-02A, Class A, 144A | |||||||
4.890% | 10/14/34 | 530 | 526,220 | ||||
Home Equity Loans — 0.0% | |||||||
Towd Point HE Trust, | |||||||
Series 2023-01, Class A1A, 144A | |||||||
6.875% | 02/25/63 | 74 | 74,042 | ||||
Towd Point Mortgage Trust, | |||||||
Series 2023-CES02, Class A1A, 144A | |||||||
7.294%(cc) | 10/25/63 | 189 | 192,839 | ||||
266,881 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Student Loan — 0.0% | |||||||
SoFi Professional Loan Program Trust, | |||||||
Series 2018-C, Class A2FX, 144A | |||||||
3.590% | 01/25/48 | 312 | $302,467 | ||||
Total Asset-Backed Securities (cost $35,204,352) | 35,238,459 | ||||||
Commercial Mortgage-Backed Securities — 2.8% | |||||||
BANK, | |||||||
Series 2019-BN19, Class A2 | |||||||
2.926% | 08/15/61 | 1,900 | 1,719,277 | ||||
Series 2019-BN20, Class A2 | |||||||
2.758% | 09/15/62 | 4,104 | 3,611,045 | ||||
Series 2019-BN21, Class A4 | |||||||
2.600% | 10/17/52 | 2,949 | 2,629,437 | ||||
Series 2021-BN38, Class A4 | |||||||
2.275% | 12/15/64 | 1,500 | 1,245,184 | ||||
Bank of America Merrill Lynch Commercial Mortgage Trust, | |||||||
Series 2016-UB10, Class A3 | |||||||
2.903% | 07/15/49 | 1,624 | 1,557,771 | ||||
BANK5, | |||||||
Series 2023-05YR04, Class A3 | |||||||
6.500% | 12/15/56 | 1,500 | 1,580,442 | ||||
Benchmark Mortgage Trust, | |||||||
Series 2019-B14, Class A1 | |||||||
2.072% | 12/15/62 | 338 | 335,076 | ||||
Series 2023-B40, Class A2 | |||||||
6.930% | 12/15/56 | 400 | 423,904 | ||||
BMO Mortgage Trust, | |||||||
Series 2023-C07, Class A2 | |||||||
6.770% | 12/15/56 | 800 | 839,792 | ||||
CSAIL Commercial Mortgage Trust, | |||||||
Series 2019-C16, Class A2 | |||||||
3.067% | 06/15/52 | 1,500 | 1,355,698 | ||||
GS Mortgage Securities Trust, | |||||||
Series 2016-GS02, Class A3 | |||||||
2.791% | 05/10/49 | 1,236 | 1,176,128 | ||||
JPMBB Commercial Mortgage Securities Trust, | |||||||
Series 2014-C22, Class A3A1 | |||||||
3.538% | 09/15/47 | 800 | 796,010 | ||||
Morgan Stanley Bank of America Merrill Lynch Trust, | |||||||
Series 2016-C30, Class A4 | |||||||
2.600% | 09/15/49 | 831 | 788,876 | ||||
Series 2016-C31, Class A4 | |||||||
2.840% | 11/15/49 | 1,821 | 1,722,076 | ||||
Morgan Stanley Capital I Trust, | |||||||
Series 2016-UB12, Class A3 | |||||||
3.337% | 12/15/49 | 1,691 | 1,603,697 | ||||
MSWF Commercial Mortgage Trust, | |||||||
Series 2023-02, Class A2 | |||||||
6.890% | 12/15/56 | 500 | 525,312 | ||||
Wells Fargo Commercial Mortgage Trust, | |||||||
Series 2016-BNK01, Class A2 | |||||||
2.399% | 08/15/49 | 1,491 | 1,395,850 | ||||
Series 2019-C53, Class A3 | |||||||
2.787% | 10/15/52 | 200 | 179,689 |
A12
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Series 2020-C56, Class A4 | |||||||
2.194% | 06/15/53 | 2,300 | $1,959,911 | ||||
Total Commercial Mortgage-Backed Securities (cost $25,951,532) | 25,445,175 | ||||||
Corporate Bonds — 5.6% | |||||||
Aerospace & Defense — 0.1% | |||||||
BAE Systems PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.125% | 03/26/29 | 265 | 265,936 | ||||
Boeing Co. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
3.550% | 03/01/38 | 833 | 628,164 | ||||
5.930% | 05/01/60 | 260 | 243,525 | ||||
1,137,625 | |||||||
Agriculture — 0.1% | |||||||
BAT Capital Corp. (United Kingdom), | |||||||
Gtd. Notes | |||||||
6.000% | 02/20/34 | 390 | 394,757 | ||||
Apparel — 0.1% | |||||||
Hanesbrands, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.875% | 05/15/26(a) | 100 | 97,457 | ||||
William Carter Co. (The), | |||||||
Gtd. Notes, 144A | |||||||
5.625% | 03/15/27 | 375 | 372,149 | ||||
469,606 | |||||||
Auto Manufacturers — 0.2% | |||||||
Ford Motor Credit Co. LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
3.375% | 11/13/25 | 200 | 192,465 | ||||
4.000% | 11/13/30 | 200 | 178,708 | ||||
5.800% | 03/08/29(a) | 200 | 200,737 | ||||
6.798% | 11/07/28 | 205 | 213,861 | ||||
General Motors Financial Co., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.800% | 06/23/28 | 590 | 601,409 | ||||
Hyundai Capital America, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.300% | 03/19/27 | 335 | 335,052 | ||||
Volkswagen Group of America Finance LLC (Germany), | |||||||
Gtd. Notes, 144A | |||||||
5.250% | 03/22/29 | 285 | 285,137 | ||||
2,007,369 | |||||||
Auto Parts & Equipment — 0.0% | |||||||
Dana Financing Luxembourg Sarl, | |||||||
Gtd. Notes, 144A | |||||||
5.750% | 04/15/25 | 203 | 201,731 | ||||
Banks — 1.6% | |||||||
ABN AMRO Bank NV (Netherlands), | |||||||
Sr. Non-Preferred Notes, 144A, MTN | |||||||
6.575%(ff) | 10/13/26 | 500 | 505,228 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
Banco Santander SA (Spain), | |||||||
Sr. Non-Preferred Notes | |||||||
5.552%(ff) | 03/14/28 | 400 | $400,198 | ||||
Bank of America Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.687%(ff) | 04/22/32 | 1,258 | 1,063,411 | ||||
Sr. Unsec’d. Notes, GMTN | |||||||
3.593%(ff) | 07/21/28 | 1,063 | 1,010,549 | ||||
Bank of New York Mellon Corp. (The), | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
4.975%(ff) | 03/14/30 | 400 | 400,187 | ||||
Barclays PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
5.690%(ff) | 03/12/30 | 630 | 633,509 | ||||
CaixaBank SA (Spain), | |||||||
Sr. Non-Preferred Notes, 144A | |||||||
5.673%(ff) | 03/15/30 | 200 | 199,743 | ||||
Citigroup, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.561%(ff) | 05/01/32 | 1,875 | 1,561,901 | ||||
2.666%(ff) | 01/29/31 | 110 | 95,369 | ||||
Deutsche Bank AG (Germany), | |||||||
Sr. Non-Preferred Notes | |||||||
6.720%(ff) | 01/18/29 | 325 | 336,120 | ||||
Fifth Third Bancorp, | |||||||
Sr. Unsec’d. Notes | |||||||
6.339%(ff) | 07/27/29(a) | 190 | 195,789 | ||||
Goldman Sachs Group, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
1.542%(ff) | 09/10/27 | 1,780 | 1,626,161 | ||||
JPMorgan Chase & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
2.963%(ff) | 01/25/33(a) | 1,257 | 1,073,587 | ||||
Morgan Stanley, | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.511%(ff) | 10/20/32 | 1,000 | 826,307 | ||||
3.591%(cc) | 07/22/28 | 1,075 | 1,021,949 | ||||
PNC Financial Services Group, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
5.582%(ff) | 06/12/29 | 325 | 328,996 | ||||
Societe Generale SA (France), | |||||||
Sr. Non-Preferred Notes, 144A, MTN | |||||||
1.792%(ff) | 06/09/27 | 1,055 | 965,966 | ||||
Truist Financial Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
5.867%(ff) | 06/08/34 | 55 | 55,672 | ||||
7.161%(ff) | 10/30/29 | 200 | 213,362 | ||||
U.S. Bancorp, | |||||||
Sr. Unsec’d. Notes | |||||||
5.836%(ff) | 06/12/34 | 95 | 96,847 | ||||
Wells Fargo & Co., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
4.808%(ff) | 07/25/28 | 1,900 | 1,872,240 | ||||
14,483,091 |
A13
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Building Materials — 0.0% | |||||||
Standard Industries, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 01/15/28 | 200 | $190,840 | ||||
Chemicals — 0.1% | |||||||
FMC Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.650% | 05/18/33(a) | 460 | 452,387 | ||||
Commercial Services — 0.1% | |||||||
Brink’s Co. (The), | |||||||
Gtd. Notes, 144A | |||||||
4.625% | 10/15/27 | 150 | 143,006 | ||||
DP World Ltd. (United Arab Emirates), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.375% | 09/25/26 | EUR | 101 | 105,116 | |||
Trustees of Princeton University (The), | |||||||
Unsec’d. Notes | |||||||
4.201% | 03/01/52(a) | 445 | 405,630 | ||||
United Rentals North America, Inc., | |||||||
Gtd. Notes | |||||||
3.750% | 01/15/32 | 325 | 283,245 | ||||
936,997 | |||||||
Diversified Financial Services — 0.3% | |||||||
BlackRock Funding, Inc., | |||||||
Gtd. Notes | |||||||
5.000% | 03/14/34 | 580 | 582,597 | ||||
Cantor Fitzgerald LP, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.500% | 04/14/27 | 1,225 | 1,169,142 | ||||
OneMain Finance Corp., | |||||||
Gtd. Notes | |||||||
7.125% | 03/15/26 | 250 | 254,468 | ||||
Power Finance Corp. Ltd. (India), | |||||||
Sr. Unsec’d. Notes | |||||||
4.500% | 06/18/29 | 360 | 344,475 | ||||
2,350,682 | |||||||
Electric — 0.3% | |||||||
Algonquin Power & Utilities Corp. (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
5.365%(c) | 06/15/26 | 155 | 154,180 | ||||
Calpine Corp., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
5.250% | 06/01/26 | 175 | 173,224 | ||||
Duke Energy Indiana LLC, | |||||||
First Mortgage | |||||||
2.750% | 04/01/50 | 650 | 412,221 | ||||
NRG Energy, Inc., | |||||||
Gtd. Notes, 144A | |||||||
3.625% | 02/15/31 | 475 | 410,085 | ||||
Pacific Gas & Electric Co., | |||||||
First Mortgage | |||||||
3.950% | 12/01/47 | 400 | 299,490 | ||||
4.950% | 07/01/50 | 245 | 211,058 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
PacifiCorp, | |||||||
First Mortgage | |||||||
4.150% | 02/15/50 | 300 | $235,394 | ||||
Vistra Operations Co. LLC, | |||||||
Gtd. Notes, 144A | |||||||
5.000% | 07/31/27 | 300 | 290,691 | ||||
Sr. Sec’d. Notes, 144A | |||||||
3.700% | 01/30/27 | 535 | 508,315 | ||||
2,694,658 | |||||||
Engineering & Construction — 0.1% | |||||||
Mexico City Airport Trust (Mexico), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.250% | 10/31/26 | 370 | 357,339 | ||||
Entertainment — 0.1% | |||||||
Caesars Entertainment, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.000% | 02/15/30 | 100 | 102,659 | ||||
International Game Technology PLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.250% | 01/15/27 | 250 | 250,937 | ||||
Warnermedia Holdings, Inc., | |||||||
Gtd. Notes | |||||||
5.050% | 03/15/42(a) | 935 | 802,118 | ||||
1,155,714 | |||||||
Foods — 0.1% | |||||||
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., | |||||||
Gtd. Notes | |||||||
5.125% | 02/01/28 | 844 | 831,401 | ||||
Lamb Weston Holdings, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.125% | 01/31/30 | 25 | 22,809 | ||||
4.375% | 01/31/32 | 310 | 277,801 | ||||
1,132,011 | |||||||
Hand/Machine Tools — 0.0% | |||||||
Regal Rexnord Corp., | |||||||
Gtd. Notes, 144A | |||||||
6.050% | 02/15/26 | 155 | 155,930 | ||||
Healthcare-Services — 0.3% | |||||||
Fred Hutchinson Cancer Center, | |||||||
Sr. Unsec’d. Notes, Series 2022 | |||||||
4.966% | 01/01/52 | 310 | 294,817 | ||||
Nationwide Children’s Hospital, Inc., | |||||||
Unsec’d. Notes | |||||||
4.556% | 11/01/52 | 600 | 556,890 | ||||
Presbyterian Healthcare Services, | |||||||
Unsec’d. Notes | |||||||
4.875% | 08/01/52 | 700 | 670,965 | ||||
Queen’s Health Systems (The), | |||||||
Sec’d. Notes | |||||||
4.810% | 07/01/52 | 360 | 343,418 | ||||
UnitedHealth Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.750% | 05/15/52 | 55 | 50,941 |
A14
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Healthcare-Services (cont’d.) | |||||||
5.200% | 04/15/63 | 275 | $266,929 | ||||
2,183,960 | |||||||
Home Builders — 0.1% | |||||||
KB Home, | |||||||
Gtd. Notes | |||||||
4.000% | 06/15/31 | 175 | 155,151 | ||||
Meritage Homes Corp., | |||||||
Gtd. Notes | |||||||
5.125% | 06/06/27 | 275 | 271,356 | ||||
Taylor Morrison Communities, Inc., | |||||||
Gtd. Notes, 144A | |||||||
5.875% | 06/15/27 | 225 | 224,969 | ||||
651,476 | |||||||
Insurance — 0.0% | |||||||
Lincoln National Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.852% | 03/15/34 | 345 | 340,603 | ||||
Media — 0.1% | |||||||
CCO Holdings LLC/CCO Holdings Capital Corp., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.125% | 05/01/27 | 50 | 47,627 | ||||
5.500% | 05/01/26 | 325 | 320,275 | ||||
Charter Communications Operating LLC/Charter Communications Operating Capital, | |||||||
Sr. Sec’d. Notes | |||||||
3.900% | 06/01/52 | 100 | 63,653 | ||||
4.800% | 03/01/50 | 372 | 275,221 | ||||
CSC Holdings LLC, | |||||||
Gtd. Notes, 144A | |||||||
6.500% | 02/01/29 | 250 | 212,500 | ||||
919,276 | |||||||
Mining — 0.1% | |||||||
BHP Billiton Finance USA Ltd. (Australia), | |||||||
Gtd. Notes | |||||||
5.250% | 09/08/30 | 540 | 547,430 | ||||
Newmont Corp./Newcrest Finance Pty Ltd., | |||||||
Gtd. Notes, 144A | |||||||
5.350% | 03/15/34(a) | 530 | 533,188 | ||||
1,080,618 | |||||||
Multi-National — 0.0% | |||||||
Corp. Andina de Fomento (Supranational Bank), | |||||||
Sr. Unsec’d. Notes | |||||||
5.000% | 01/24/29 | 155 | 154,564 | ||||
Oil & Gas — 0.5% | |||||||
Aker BP ASA (Norway), | |||||||
Gtd. Notes, 144A | |||||||
3.100% | 07/15/31 | 675 | 576,195 | ||||
Sr. Unsec’d. Notes, 144A | |||||||
2.000% | 07/15/26 | 875 | 807,642 | ||||
Diamondback Energy, Inc., | |||||||
Gtd. Notes | |||||||
6.250% | 03/15/33 | 470 | 501,169 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Oil & Gas (cont’d.) | |||||||
Ecopetrol SA (Colombia), | |||||||
Sr. Unsec’d. Notes | |||||||
6.875% | 04/29/30 | 250 | $242,372 | ||||
8.625% | 01/19/29 | 265 | 279,749 | ||||
Endeavor Energy Resources LP/EER Finance, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.750% | 01/30/28 | 125 | 125,961 | ||||
Hilcorp Energy I LP/Hilcorp Finance Co., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
6.000% | 02/01/31 | 400 | 389,827 | ||||
Petroleos Mexicanos (Mexico), | |||||||
Gtd. Notes | |||||||
5.950% | 01/28/31 | 200 | 160,280 | ||||
6.500% | 03/13/27 | 490 | 460,605 | ||||
Var Energi ASA (Norway), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.000% | 05/18/27 | 900 | 879,367 | ||||
4,423,167 | |||||||
Packaging & Containers — 0.1% | |||||||
Ball Corp., | |||||||
Gtd. Notes | |||||||
6.000% | 06/15/29 | 200 | 201,855 | ||||
Berry Global, Inc., | |||||||
Sr. Sec’d. Notes | |||||||
5.500% | 04/15/28 | 635 | 639,908 | ||||
Graphic Packaging International LLC, | |||||||
Gtd. Notes | |||||||
4.125% | 08/15/24 | 175 | 173,515 | ||||
1,015,278 | |||||||
Pharmaceuticals — 0.0% | |||||||
Viatris, Inc., | |||||||
Gtd. Notes | |||||||
4.000% | 06/22/50 | 355 | 244,227 | ||||
Pipelines — 0.5% | |||||||
DCP Midstream Operating LP, | |||||||
Gtd. Notes, 144A | |||||||
6.750% | 09/15/37 | 850 | 921,459 | ||||
EIG Pearl Holdings Sarl (Saudi Arabia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.545% | 08/31/36 | 200 | 170,812 | ||||
Energy Transfer LP, | |||||||
Sr. Unsec’d. Notes | |||||||
5.150% | 03/15/45 | 620 | 564,457 | ||||
EQM Midstream Partners LP, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
7.500% | 06/01/27 | 25 | 25,631 | ||||
7.500% | 06/01/30 | 25 | 26,726 | ||||
Greensaif Pipelines Bidco Sarl (Saudi Arabia), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.129% | 02/23/38 | 200 | 203,440 | ||||
MPLX LP, | |||||||
Sr. Unsec’d. Notes | |||||||
4.950% | 03/14/52 | 460 | 404,125 |
A15
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pipelines (cont’d.) | |||||||
ONEOK, Inc., | |||||||
Gtd. Notes | |||||||
6.050% | 09/01/33 | 840 | $876,918 | ||||
Targa Resources Corp., | |||||||
Gtd. Notes | |||||||
4.200% | 02/01/33 | 535 | 488,323 | ||||
Western Midstream Operating LP, | |||||||
Sr. Unsec’d. Notes | |||||||
4.050% | 02/01/30 | 1,015 | 945,452 | ||||
4,627,343 | |||||||
Real Estate Investment Trusts (REITs) — 0.5% | |||||||
American Tower Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.200% | 02/15/29(a) | 390 | 390,073 | ||||
Brixmor Operating Partnership LP, | |||||||
Sr. Unsec’d. Notes | |||||||
4.050% | 07/01/30 | 1,045 | 970,884 | ||||
GLP Capital LP/GLP Financing II, Inc., | |||||||
Gtd. Notes | |||||||
5.375% | 04/15/26 | 1,500 | 1,487,646 | ||||
Kimco Realty OP LLC, | |||||||
Gtd. Notes | |||||||
4.600% | 02/01/33 | 435 | 411,507 | ||||
Sun Communities Operating LP, | |||||||
Gtd. Notes | |||||||
2.300% | 11/01/28 | 1,525 | 1,332,763 | ||||
5.700% | 01/15/33 | 135 | 133,900 | ||||
4,726,773 | |||||||
Semiconductors — 0.1% | |||||||
Broadcom, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.419% | 04/15/33 | 404 | 349,745 | ||||
Microchip Technology, Inc., | |||||||
Gtd. Notes | |||||||
5.050% | 03/15/29 | 185 | 185,148 | ||||
534,893 | |||||||
Software — 0.0% | |||||||
Black Knight InfoServ LLC, | |||||||
Gtd. Notes, 144A | |||||||
3.625% | 09/01/28 | 200 | 189,100 | ||||
Telecommunications — 0.1% | |||||||
AT&T, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.500% | 06/01/41 | 575 | 448,490 | ||||
3.650% | 09/15/59 | 400 | 278,645 | ||||
Motorola Solutions, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.400% | 04/15/34 | 465 | 464,112 | ||||
1,191,247 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Transportation — 0.0% | |||||||
GN Bondco LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
9.500% | 10/15/31 | 50 | $49,938 | ||||
Total Corporate Bonds (cost $50,560,145) | 50,453,200 | ||||||
Residential Mortgage-Backed Securities — 0.3% | |||||||
Chase Home Lending Mortgage Trust, | |||||||
Series 2023-RPL01, Class A1, 144A | |||||||
3.500%(cc) | 06/25/62 | 250 | 224,653 | ||||
Citigroup Mortgage Loan Trust, | |||||||
Series 2022-A, Class A1, 144A | |||||||
6.170% | 09/25/62 | 177 | 176,733 | ||||
Connecticut Avenue Securities Trust, | |||||||
Series 2023-R08, Class 1M1, 144A, 30 Day Average SOFR + 1.500% (Cap N/A, Floor 0.000%) | |||||||
6.820%(c) | 10/25/43 | 90 | 90,846 | ||||
Credit Suisse Mortgage Trust, | |||||||
Series 2022-RPL04, Class A1, 144A | |||||||
3.904%(cc) | 04/25/62 | 85 | 79,569 | ||||
Fannie Mae REMIC, | |||||||
Series 2022-51, Class PS, IO, 30 Day Average SOFR x (1) + 5.950% (Cap 5.950%, Floor 0.000%) | |||||||
0.630%(c) | 08/25/52 | 1,678 | 138,154 | ||||
FHLMC Structured Agency Credit Risk REMIC Trust, | |||||||
Series 2022-DNA06, Class M1A, 144A, 30 Day Average SOFR + 2.150% (Cap N/A, Floor 0.000%) | |||||||
7.470%(c) | 09/25/42 | 383 | 388,120 | ||||
Freddie Mac REMIC, | |||||||
Series 5222, Class SA, IO, 30 Day Average SOFR x (1) + 3.500% (Cap 3.500%, Floor 0.000%) | |||||||
0.000%(c) | 05/25/52 | 205 | 3,097 | ||||
Series 5269, Class AD | |||||||
2.000% | 01/25/55 | 711 | 546,093 | ||||
Series 5281, Class AY | |||||||
2.500% | 08/25/52 | 203 | 160,373 | ||||
Freddie Mac Strips, | |||||||
Series 406, Class PO, PO | |||||||
1.221%(s) | 10/25/53 | 397 | 317,987 | ||||
Government National Mortgage Assoc., | |||||||
Series 2022-046, Class S, IO, 30 Day Average SOFR x (1) + 3.500% (Cap 3.500%, Floor 0.000%) | |||||||
0.000%(c) | 03/20/52 | 361 | 6,278 | ||||
Series 2022-066, Class SB, IO, 30 Day Average SOFR x (1) + 3.850% (Cap 3.850%, Floor 0.000%) | |||||||
0.000%(c) | 04/20/52 | 412 | 8,155 | ||||
Series 2022-068, Class SP, IO, 30 Day Average SOFR x (1) + 3.850% (Cap 3.850%, Floor 0.000%) | |||||||
0.000%(c) | 04/20/52 | 333 | 7,994 | ||||
Series 2022-078, Class SB, IO, 30 Day Average SOFR x (1) + 3.750% (Cap 3.750%, Floor 0.000%) | |||||||
0.000%(c) | 04/20/52 | 829 | 17,322 | ||||
Series 2022-093, Class GS, IO, 30 Day Average SOFR x (1) + 3.650% (Cap 3.650%, Floor 0.000%) | |||||||
0.000%(c) | 05/20/52 | 256 | 4,575 |
A16
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
Series 2022-133, Class SA, IO, 30 Day Average SOFR x (1) + 3.950% (Cap 3.950%, Floor 0.000%) | |||||||
0.000%(c) | 07/20/52 | 641 | $11,228 | ||||
Series 2022-148, Class DS, IO, 30 Day Average SOFR x (1) + 3.600% (Cap 3.600%, Floor 0.000%) | |||||||
0.000%(c) | 08/20/52 | 654 | 10,406 | ||||
PMT Credit Risk Transfer Trust, | |||||||
Series 2023-01R, Class A, 144A, 30 Day Average SOFR + 4.400% (Cap N/A, Floor 0.000%) | |||||||
9.721%(c) | 03/27/25 | 453 | 458,310 | ||||
Shamrock Residential (Ireland), | |||||||
Series 2023-01A, Class A, 144A, 1 Month EURIBOR + 1.000% (Cap N/A, Floor 0.000%) | |||||||
4.848%(c) | 06/24/71 | EUR | 91 | 98,211 | |||
Towd Point Mortgage Trust, | |||||||
Series 2021-SJ02, Class A1B, 144A | |||||||
2.250%(cc) | 12/25/61 | 100 | 85,772 | ||||
Total Residential Mortgage-Backed Securities (cost $2,824,923) | 2,833,876 | ||||||
Sovereign Bonds — 0.1% | |||||||
Dominican Republic International Bond (Dominican Republic), | |||||||
Sr. Unsec’d. Notes | |||||||
6.000% | 07/19/28 | 150 | 149,250 | ||||
Saudi Government International Bond (Saudi Arabia), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
0.750% | 07/09/27 | EUR | 100 | 99,153 | |||
Serbia International Bond (Serbia), | |||||||
Sr. Unsec’d. Notes | |||||||
1.500% | 06/26/29 | EUR | 115 | 104,721 | |||
3.125% | 05/15/27 | EUR | 301 | 312,353 | |||
Total Sovereign Bonds (cost $627,579) | 665,477 | ||||||
U.S. Government Agency Obligations — 5.1% | |||||||
Federal Home Loan Mortgage Corp. | |||||||
2.000% | 02/01/36 | 409 | 364,864 | ||||
2.000% | 07/01/36 | 130 | 115,712 | ||||
2.000% | 05/01/42 | 1,035 | 867,343 | ||||
2.000% | 02/01/51 | 1,037 | 825,864 | ||||
3.000% | 09/01/50(k) | 3,521 | 3,056,837 | ||||
3.000% | 02/01/52 | 922 | 802,954 | ||||
3.500% | 06/01/37 | 124 | 117,541 | ||||
3.500% | 03/01/48 | 1,507 | 1,376,648 | ||||
4.500% | 07/01/47 | 1,015 | 989,149 | ||||
5.000% | 02/01/38 | 351 | 350,809 | ||||
5.000% | 01/01/39 | 154 | 153,946 | ||||
Federal National Mortgage Assoc. | |||||||
1.500% | 01/01/36 | 439 | 382,456 | ||||
1.500% | 11/01/50 | 907 | 685,105 | ||||
1.500% | 02/01/51 | 1,311 | 990,148 | ||||
2.000% | 03/01/31 | 125 | 116,293 | ||||
2.000% | 01/01/32 | 259 | 238,421 | ||||
2.000% | 11/01/50 | 1,472 | 1,173,947 | ||||
2.000% | 03/01/51 | 2,049 | 1,627,953 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
2.000% | 04/01/51 | 548 | $436,074 | ||||
2.000% | 05/01/51 | 3,548 | 2,823,247 | ||||
2.000% | 07/01/51 | 2,156 | 1,718,475 | ||||
2.500% | TBA(tt) | 500 | 413,230 | ||||
2.500% | 07/01/32 | 138 | 128,683 | ||||
2.500% | 08/01/32 | 151 | 140,512 | ||||
2.500% | 09/01/32 | 148 | 137,356 | ||||
2.500% | 07/01/35 | 538 | 499,800 | ||||
2.500% | 03/01/51 | 492 | 409,855 | ||||
2.500% | 06/01/51 | 2,310 | 1,918,870 | ||||
2.500% | 08/01/51 | 1,664 | 1,381,816 | ||||
2.500% | 12/01/51 | 1,337 | 1,112,205 | ||||
2.500% | 02/01/52 | 1,324 | 1,109,217 | ||||
2.500% | 04/01/52 | 1,347 | 1,129,050 | ||||
3.000% | 06/01/36 | 600 | 563,773 | ||||
3.000% | 02/01/50 | 910 | 791,163 | ||||
3.500% | TBA | 2,500 | 2,238,756 | ||||
3.500% | 03/01/52 | 431 | 391,272 | ||||
4.000% | TBA(tt) | 2,000 | 1,852,003 | ||||
4.000% | 10/01/52 | 229 | 212,575 | ||||
4.500% | TBA(tt) | 500 | 476,111 | ||||
5.000% | TBA(tt) | 500 | 499,232 | ||||
5.000% | 04/01/38 | 267 | 266,707 | ||||
5.000% | 06/01/52 | 878 | 857,607 | ||||
5.000% | 10/01/52 | 499 | 487,075 | ||||
5.500% | TBA(tt) | 1,000 | 995,036 | ||||
6.000% | 01/01/53 | 969 | 978,799 | ||||
Government National Mortgage Assoc. | |||||||
2.000% | TBA(tt) | 1,000 | 819,113 | ||||
2.000% | 01/20/51 | 500 | 409,937 | ||||
2.500% | 07/20/51 | 471 | 401,107 | ||||
3.000% | 05/20/46 | 171 | 152,636 | ||||
3.000% | 10/20/46 | 206 | 183,825 | ||||
3.000% | 11/20/47 | 179 | 159,346 | ||||
3.000% | 06/20/51 | 1,092 | 962,860 | ||||
3.500% | 08/20/43 | 883 | 821,127 | ||||
3.500% | 10/20/46 | 768 | 707,270 | ||||
3.500% | 04/20/48 | 486 | 447,292 | ||||
4.000% | 11/20/47 | 778 | 739,318 | ||||
4.000% | 03/20/48 | 462 | 438,357 | ||||
4.500% | 08/20/48 | 627 | 610,050 | ||||
6.500% | TBA | 1,000 | 1,015,696 | ||||
Total U.S. Government Agency Obligations (cost $47,802,933) | 46,072,423 | ||||||
U.S. Treasury Obligations — 2.2% | |||||||
U.S. Treasury Bonds | |||||||
2.250% | 05/15/41 | 2,120 | 1,566,812 | ||||
3.000% | 02/15/49 | 2,655 | 2,070,070 | ||||
3.375% | 11/15/48(h) | 6,165 | 5,152,591 | ||||
U.S. Treasury Notes | |||||||
0.625% | 05/15/30 | 6,500 | 5,249,766 | ||||
3.875% | 04/30/25 | 1,560 | 1,541,475 | ||||
4.000% | 12/15/25 | 1,560 | 1,540,927 |
A17
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Treasury Obligations(continued) | |||||||
U.S. Treasury Strips Coupon | |||||||
3.799%(s) | 05/15/41(k) | 6,640 | $3,015,494 | ||||
Total U.S. Treasury Obligations (cost $20,553,584) | 20,137,135 | ||||||
Total Long-Term Investments (cost $748,521,952) | 863,631,757 |
Shares | |||||
Short-Term Investments — 7.2% | |||||
Affiliated Mutual Funds — 6.9% | |||||
PGIM Core Ultra Short Bond Fund(wa) | 49,146,814 | 49,146,814 | |||
PGIM Institutional Money Market Fund (7-day effective yield 5.664%) (cost $13,680,959; includes $13,624,419 of cash collateral for securities on loan)(b)(wa) | 13,686,646 | 13,679,803 | |||
Total Affiliated Mutual Funds (cost $62,827,773) | 62,826,617 |
Interest Rate | Maturity Date | Principal Amount (000)# | |||||
U.S. Treasury Obligation(k)(n) — 0.3% | |||||||
U.S. Treasury Bills | |||||||
5.270% | 06/20/24 | 2,300 | 2,273,338 | ||||
(cost $2,273,458) | |||||||
Total Short-Term Investments (cost $65,101,231) | 65,099,955 | ||||||
TOTAL INVESTMENTS—102.5% (cost $813,623,183) | 928,731,712 | ||||||
Liabilities in excess of other assets(z) — (2.5)% | (22,847,711) | ||||||
Net Assets — 100.0% | $905,884,001 |
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: | |
EUR | Euro |
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. |
A | Annual payment frequency for swaps |
ADR | American Depositary Receipt |
BNYM | Bank of New York Mellon |
BOA | Bank of America, N.A. |
bps | Basis Points |
CDI | Chess Depository Interest |
CDX | Credit Derivative Index |
CLO | Collateralized Loan Obligation |
CVA | Certificate Van Aandelen (Bearer) |
EAFE | Europe, Australasia, Far East |
ETF | Exchange-Traded Fund |
EURIBOR | Euro Interbank Offered Rate |
FHLMC | Federal Home Loan Mortgage Corporation |
GMTN | Global Medium Term Note |
IO | Interest Only (Principal amount represents notional) |
JPM | JPMorgan Chase Bank N.A. |
LP | Limited Partnership |
MSCI | Morgan Stanley Capital International |
MTN | Medium Term Note |
OTC | Over-the-counter |
PO | Principal Only |
PRFC | Preference Shares |
Q | Quarterly payment frequency for swaps |
REITs | Real Estate Investment Trust |
REMIC | Real Estate Mortgage Investment Conduit |
S&P | Standard & Poor’s |
SOFR | Secured Overnight Financing Rate |
SSB | State Street Bank & Trust Company |
STRIPs | Separate Trading of Registered Interest and Principal of Securities |
T | Swap payment upon termination |
TBA | To Be Announced |
USOIS | United States Overnight Index Swap |
UTS | Unit Trust Security |
* | Non-income producing security. |
# | Principal or notional 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 $13,366,367; cash collateral of $13,624,419 (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. |
(h) | Represents security, or a portion thereof, segregated as collateral for OTC derivatives. |
(k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
(n) | Rate shown reflects yield to maturity at purchased date. |
(s) | Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date. |
(tt) | All or partial principal amount represents “TBA” mortgage dollar rolls. The aggregate mortgage dollar roll principal amount of $5,500,000 is 0.6% of net assets. |
(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: |
A18
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Forward Commitment Contracts: | |||||||||||
U.S. Government Agency Obligations | Interest Rate | Maturity Date | Settlement Date | Principal Amount (000)# | Value | ||||||
Federal National Mortgage Assoc. | 2.000% | TBA | 04/11/24 | $(2,500) | $(1,977,470) | ||||||
Federal National Mortgage Assoc. | 3.000% | TBA | 04/11/24 | (500) | (430,106) | ||||||
Federal National Mortgage Assoc. | 6.000% | TBA | 05/13/24 | (500) | (504,454) | ||||||
TOTAL FORWARD COMMITMENT CONTRACTS (proceeds receivable $2,911,133) | $(2,912,030) |
Futures contracts outstanding at March 31, 2024: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
22 | 2 Year U.S. Treasury Notes | Jun. 2024 | $4,498,656 | $(9,533) | ||||
4 | 5 Year U.S. Treasury Notes | Jun. 2024 | 428,063 | (382) | ||||
38 | 10 Year U.S. Treasury Notes | Jun. 2024 | 4,210,281 | (7,318) | ||||
22 | 10 Year U.S. Ultra Treasury Notes | Jun. 2024 | 2,521,406 | 23,229 | ||||
290 | Mini MSCI EAFE Index | Jun. 2024 | 34,177,950 | 420,793 | ||||
34 | S&P 500 E-Mini Index | Jun. 2024 | 9,024,450 | 199,386 | ||||
626,175 | ||||||||
Short Positions: | ||||||||
28 | 20 Year U.S. Treasury Bonds | Jun. 2024 | 3,372,250 | (41,737) | ||||
6 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2024 | 774,000 | (17,962) | ||||
(59,699) | ||||||||
$566,476 |
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: | |||||||||||||
Euro, | |||||||||||||
Expiring 04/02/24 | SSB | EUR | 670 | $724,353 | $722,452 | $— | $(1,901) |
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts: | |||||||||||||
Euro, | |||||||||||||
Expiring 04/02/24 | BNYM | EUR | 670 | $726,217 | $722,451 | $3,766 | $— | ||||||
Expiring 05/02/24 | SSB | EUR | 670 | 725,226 | 723,297 | 1,929 | — | ||||||
$1,451,443 | $1,445,748 | 5,695 | — | ||||||||||
$5,695 | $(1,901) |
Credit default swap agreements outstanding at March 31, 2024:
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at March 31, 2024(4) | Value at Trade Date | Value at March 31, 2024 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2): | |||||||||||||||
CDX.NA.HY.41.V2 | 12/20/28 | 5.000%(Q) | 941 | 3.116% | $62,148 | $70,807 | $8,659 |
A19
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Credit default swap agreements outstanding at March 31, 2024 (continued):
Reference Entity/ Obligation | Termination Date | Fixed Rate | Notional Amount (000)#(3) | Implied Credit Spread at March 31, 2024(4) | Value at Trade Date | Value at March 31, 2024 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2)(cont’d.): | |||||||||||||||
CDX.NA.HY.42.V1 | 06/20/29 | 5.000%(Q) | 1,870 | 3.289% | $129,732 | $137,910 | $8,178 | ||||||||
$191,880 | $208,717 | $16,837 |
The Portfolio entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) | If the Portfolio is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | If the Portfolio is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(3) | Notional amount represents the maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Portfolio is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
Interest rate swap agreements outstanding at March 31, 2024:
Notional Amount (000)# | Termination Date | Fixed Rate | Floating Rate | Value at Trade Date | Value at March 31, 2024 | Unrealized Appreciation (Depreciation) | ||||||||
Centrally Cleared Interest Rate Swap Agreements: | ||||||||||||||
6,955 | 08/31/24 | 5.384%(T) | 1 Day SOFR(2)(T)/ 5.340% | $— | $(2,124) | $(2,124) | ||||||||
2,332 | 03/08/25 | 4.946%(A) | 1 Day SOFR(2)(A)/ 5.340% | — | (3,546) | (3,546) | ||||||||
2,756 | 03/09/25 | 5.110%(A) | 1 Day SOFR(2)(A)/ 5.340% | — | 317 | 317 | ||||||||
6,390 | 03/10/25 | 5.088%(A) | 1 Day SOFR(2)(A)/ 5.340% | — | (570) | (570) | ||||||||
3,585 | 08/31/25 | 4.805%(A) | 1 Day SOFR(1)(A)/ 5.340% | — | 14,434 | 14,434 | ||||||||
240 | 09/25/26 | 4.699%(A) | 1 Day SOFR(1)(A)/ 5.340% | 44 | (915) | (959) | ||||||||
$44 | $7,596 | $7,552 |
(1) | The Portfolio pays the fixed rate and receives the floating rate. |
(2) | The Portfolio pays the floating rate and receives the fixed rate. |
A20
AST QUANTITATIVE MODELING PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Total return swap agreements outstanding at March 31, 2024: | ||||||||||||||
Reference Entity | Financing Rate | Counterparty | Termination Date | Long (Short) Notional Amount (000)#(1) | Fair Value | Upfront Premiums Paid (Received) | Unrealized Appreciation (Depreciation)(2) | |||||||
OTC Total Return Swap Agreements: | ||||||||||||||
Total Return Benchmark Bond Index(T) | 1 Day USOIS -54bps(T)/ 4.790% | JPM | 09/20/24 | (2,480) | $(30,558) | $— | $(30,558) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +22bps(T)/ 5.550% | JPM | 06/04/24 | 3,765 | 22,934 | — | 22,934 | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +20bps(T)/ 5.530% | JPM | 08/05/24 | 4,970 | (148,830) | — | (148,830) | |||||||
U.S. Treasury Bond(T) | 1 Day USOIS +22bps(T)/ 5.550% | BOA | 08/21/24 | 6,935 | 97,147 | — | 97,147 | |||||||
$(59,307) | $— | $(59,307) |
(1) | On a long total return swap, the Portfolio receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return swap, the Portfolio makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate. |
(2) | Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation). |
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).
A21