AST TARGET MATURITY CENTRAL PORTFOLIO
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Long-Term Investments — 101.1% | |||||||
Asset-Backed Securities — 19.2% | |||||||
Automobiles — 8.0% | |||||||
AmeriCredit Automobile Receivables Trust, | |||||||
Series 2023-01, Class C | |||||||
5.800% | 12/18/28 | 800 | $806,223 | ||||
ARI Fleet Lease Trust, | |||||||
Series 2024-A, Class A2, 144A | |||||||
5.300% | 11/15/32 | 500 | 498,921 | ||||
Avis Budget Rental Car Funding AESOP LLC, | |||||||
Series 2020-02A, Class A, 144A | |||||||
2.020% | 02/20/27 | 600 | 566,265 | ||||
Series 2021-02A, Class A, 144A | |||||||
1.660% | 02/20/28 | 600 | 546,567 | ||||
Series 2022-03A, Class A, 144A | |||||||
4.620% | 02/20/27 | 1,456 | 1,436,441 | ||||
Series 2022-04A, Class A, 144A | |||||||
4.770% | 02/20/29 | 2,520 | 2,480,343 | ||||
Series 2023-03A, Class A, 144A | |||||||
5.440% | 02/22/28 | 900 | 905,216 | ||||
Series 2024-01A, Class A, 144A | |||||||
5.360% | 06/20/30 | 500 | 502,476 | ||||
BOF VII AL Funding Trust I, | |||||||
Series 2023-CAR03, Class A2, 144A | |||||||
6.291% | 07/26/32 | 872 | 877,162 | ||||
Series 2023-CAR03, Class B, 144A | |||||||
6.632% | 07/26/32 | 363 | 365,961 | ||||
CarMax Auto Owner Trust, | |||||||
Series 2021-01, Class C | |||||||
0.940% | 12/15/26 | 500 | 476,603 | ||||
Series 2021-04, Class C | |||||||
1.380% | 07/15/27 | 150 | 139,619 | ||||
Series 2022-01, Class C | |||||||
2.200% | 11/15/27 | 50 | 46,919 | ||||
Enterprise Fleet Funding LLC, | |||||||
Series 2021-01, Class A2, 144A | |||||||
0.440% | 12/21/26 | 15 | 14,697 | ||||
Ford Credit Auto Owner Trust, | |||||||
Series 2020-02, Class A, 144A | |||||||
1.060% | 04/15/33 | 1,470 | 1,377,041 | ||||
Series 2021-02, Class A, 144A | |||||||
1.530% | 05/15/34 | 900 | 822,674 | ||||
Series 2021-A, Class C | |||||||
0.830% | 08/15/28 | 350 | 333,688 | ||||
Series 2023-01, Class A, 144A | |||||||
4.850% | 08/15/35 | 1,600 | 1,590,836 | ||||
Series 2023-02, Class A, 144A | |||||||
5.280% | 02/15/36 | 1,000 | 1,011,794 | ||||
Series 2024-01, Class A, 144A | |||||||
4.870% | 08/15/36 | 1,800 | 1,796,319 | ||||
Ford Credit Floorplan Master Owner Trust, | |||||||
Series 2020-02, Class A | |||||||
1.060% | 09/15/27 | 300 | 282,058 | ||||
Series 2023-01, Class A1, 144A | |||||||
4.920% | 05/15/28 | 1,200 | 1,194,083 | ||||
GM Financial Consumer Automobile Receivables Trust, | |||||||
Series 2021-01, Class C | |||||||
1.040% | 05/17/27 | 500 | 482,120 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Automobiles (cont’d.) | |||||||
GM Financial Revolving Receivables Trust, | |||||||
Series 2021-01, Class A, 144A | |||||||
1.170% | 06/12/34 | 100 | $91,026 | ||||
Hertz Vehicle Financing III LLC, | |||||||
Series 2023-01A, Class A, 144A | |||||||
5.490% | 06/25/27 | 1,500 | 1,501,714 | ||||
Hertz Vehicle Financing III LP, | |||||||
Series 2021-02A, Class A, 144A | |||||||
1.680% | 12/27/27 | 700 | 638,763 | ||||
Hertz Vehicle Financing LLC, | |||||||
Series 2023-03A, Class A, 144A | |||||||
5.940% | 02/25/28 | 800 | 811,846 | ||||
OneMain Direct Auto Receivables Trust, | |||||||
Series 2019-01A, Class A, 144A | |||||||
3.630% | 09/14/27 | 1,600 | 1,577,762 | ||||
Series 2021-01A, Class A, 144A | |||||||
0.870% | 07/14/28 | 994 | 958,063 | ||||
Series 2022-01A, Class A1, 144A | |||||||
4.650% | 03/14/29 | 2,400 | 2,376,689 | ||||
Series 2023-01A, Class A, 144A | |||||||
5.410% | 11/14/29 | 1,900 | 1,901,951 | ||||
Santander Consumer Auto Receivables Trust, | |||||||
Series 2021-AA, Class C, 144A | |||||||
1.030% | 11/16/26 | 500 | 476,105 | ||||
Santander Drive Auto Receivables Trust, | |||||||
Series 2022-03, Class C | |||||||
4.490% | 08/15/29 | 3,200 | 3,138,957 | ||||
Series 2023-01, Class C | |||||||
5.090% | 05/15/30 | 400 | 395,443 | ||||
Series 2023-03, Class C | |||||||
5.770% | 11/15/30 | 500 | 503,743 | ||||
Series 2023-04, Class C | |||||||
6.040% | 12/15/31 | 800 | 813,460 | ||||
SFS Auto Receivables Securitization Trust, | |||||||
Series 2023-01A, Class B, 144A | |||||||
5.710% | 01/22/30 | 100 | 101,427 | ||||
Series 2023-01A, Class C, 144A | |||||||
5.970% | 02/20/31 | 200 | 203,252 | ||||
Wheels Fleet Lease Funding LLC, | |||||||
Series 2023-01A, Class A, 144A | |||||||
5.800% | 04/18/38 | 1,600 | 1,600,961 | ||||
World Omni Select Auto Trust, | |||||||
Series 2021-A, Class C | |||||||
1.090% | 11/15/27 | 150 | 140,813 | ||||
35,786,001 | |||||||
Collateralized Loan Obligations — 9.8% | |||||||
Allegro CLO Ltd. (Cayman Islands), | |||||||
Series 2018-02A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | |||||||
6.676%(c) | 07/15/31 | 673 | 673,063 | ||||
Series 2019-01A, Class AR, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | |||||||
6.729%(c) | 07/20/32 | 1,000 | 1,000,000 |
A1
AST TARGET MATURITY CENTRAL 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.) | |||||||
Anchorage Capital CLO Ltd. (Cayman Islands), | |||||||
Series 2015-07A, Class AR2, 144A, 3 Month SOFR + 1.352% (Cap N/A, Floor 1.090%) | |||||||
6.671%(c) | 01/28/31 | 837 | $830,895 | ||||
Series 2022-25A, Class A1, 144A, 3 Month SOFR + 1.390% (Cap N/A, Floor 1.390%) | |||||||
6.708%(c) | 04/20/35 | 750 | 748,350 | ||||
Apex Credit CLO LLC (Cayman Islands), | |||||||
Series 2021-02A, Class A1A, 144A, 3 Month SOFR + 1.492% (Cap N/A, Floor 1.230%) | |||||||
6.809%(c) | 10/20/34 | 750 | 750,277 | ||||
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 | 250 | 250,514 | ||||
Series 2022-01A, Class A1, 144A, 3 Month SOFR + 1.320% (Cap N/A, Floor 1.320%) | |||||||
6.618%(c) | 04/18/35 | 750 | 750,122 | ||||
Balboa Bay Loan Funding Ltd. (Cayman Islands), | |||||||
Series 2020-01A, Class AR, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%) | |||||||
6.699%(c) | 01/20/32 | 748 | 748,653 | ||||
Ballyrock CLO Ltd. (Cayman Islands), | |||||||
Series 2020-02A, Class A1R, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 1.010%) | |||||||
6.589%(c) | 10/20/31 | 732 | 734,041 | ||||
Barings CLO Ltd. (Cayman Islands), | |||||||
Series 2020-02A, Class AR, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 1.010%) | |||||||
6.586%(c) | 10/15/33 | 742 | 742,551 | ||||
Battalion CLO Ltd. (Cayman Islands), | |||||||
Series 2015-08A, Class A1R2, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%) | |||||||
6.630%(c) | 07/18/30 | 953 | 953,211 | ||||
Series 2017-11A, Class AR, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | |||||||
6.730%(c) | 04/24/34 | 1,000 | 1,002,498 | ||||
Benefit Street Partners CLO Ltd. (Cayman Islands), | |||||||
Series 2019-18A, Class A1R, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%) | |||||||
6.746%(c) | 10/15/34 | 750 | 750,389 | ||||
Broad River BSL Funding CLO Ltd. (Cayman Islands), | |||||||
Series 2020-01A, Class AR, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%) | |||||||
6.749%(c) | 07/20/34 | 250 | 250,187 | ||||
Carlyle CLO Ltd. (Cayman Islands), | |||||||
Series C17A, Class A1AR, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 0.000%) | |||||||
6.609%(c) | 04/30/31 | 227 | 225,757 | ||||
Carlyle US CLO Ltd. (Cayman Islands), | |||||||
Series 2019-01A, Class A1AR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.080%) | |||||||
6.659%(c) | 04/20/31 | 750 | 750,375 | ||||
Series 2021-05A, Class A1, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%) | |||||||
6.699%(c) | 07/20/34 | 500 | 500,380 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
CBAM Ltd. (Cayman Islands), | |||||||
Series 2019-11RA, Class A1, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%) | |||||||
6.759%(c) | 01/20/35 | 750 | $748,412 | ||||
Series 2020-12A, Class AR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.442%) | |||||||
6.759%(c) | 07/20/34 | 500 | 499,951 | ||||
CIFC Funding Ltd. (Cayman Islands), | |||||||
Series 2013-03RA, Class A1, 144A, 3 Month SOFR + 1.242% (Cap N/A, Floor 0.980%) | |||||||
6.560%(c) | 04/24/31 | 234 | 234,120 | ||||
Series 2021-05A, Class A, 144A, 3 Month SOFR + 1.402% (Cap N/A, Floor 1.402%) | |||||||
6.716%(c) | 07/15/34 | 500 | 500,956 | ||||
Clover CLO LLC, | |||||||
Series 2018-01A, Class A1R, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.382%) | |||||||
6.699%(c) | 04/20/32 | 1,000 | 1,001,505 | ||||
Clover CLO Ltd. (Cayman Islands), | |||||||
Series 2019-02A, Class AR, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.362%) | |||||||
6.686%(c) | 10/25/33 | 750 | 750,006 | ||||
Crestline Denali CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class AR, 144A, 3 Month SOFR + 1.322% (Cap N/A, Floor 1.060%) | |||||||
6.636%(c) | 10/15/31 | 1,208 | 1,208,603 | ||||
Crown City CLO (Cayman Islands), | |||||||
Series 2020-01A, Class A1AR, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 1.190%) | |||||||
6.769%(c) | 07/20/34 | 250 | 249,653 | ||||
Series 2020-02A, Class A1AR, 144A, 3 Month SOFR + 1.340% (Cap N/A, Floor 1.340%) | |||||||
6.658%(c) | 04/20/35 | 750 | 745,414 | ||||
Elevation CLO Ltd. (Cayman Islands), | |||||||
Series 2017-06A, Class A1, 144A, 3 Month SOFR + 1.542% (Cap N/A, Floor 1.542%) | |||||||
6.856%(c) | 07/15/29 | 88 | 88,356 | ||||
Series 2021-13A, Class A1, 144A, 3 Month SOFR + 1.452% (Cap N/A, Floor 1.190%) | |||||||
6.766%(c) | 07/15/34 | 250 | 250,003 | ||||
Generate CLO Ltd. (Cayman Islands), | |||||||
Series 02A, Class AR, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | |||||||
6.729%(c) | 01/22/31 | 215 | 215,514 | ||||
Greenwood Park CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A2, 144A, 3 Month SOFR + 1.272% (Cap N/A, Floor 0.000%) | |||||||
6.586%(c) | 04/15/31 | 405 | 405,888 | ||||
Hayfin US Ltd. (Cayman Islands), | |||||||
Series 2018-09A, Class AR, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | |||||||
6.731%(c) | 04/28/31 | 900 | 900,410 | ||||
ICG Rhinebeck CLO Ltd. (Cayman Islands), | |||||||
Series 2021-04A, Class A1, 144A, 3 Month SOFR + 1.472% (Cap N/A, Floor 1.210%) | |||||||
6.796%(c) | 10/26/34 | 750 | 750,000 |
A2
AST TARGET MATURITY CENTRAL 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.) | |||||||
ICG US CLO Ltd. (Cayman Islands), | |||||||
Series 2015-02RA, Class A1, 144A, 3 Month SOFR + 1.632% (Cap N/A, Floor 1.370%) | |||||||
6.946%(c) | 01/16/33 | 1,242 | $1,244,878 | ||||
Jamestown CLO Ltd. (Cayman Islands), | |||||||
Series 2019-14A, Class A1AR, 144A, 3 Month SOFR + 1.462% (Cap N/A, Floor 1.200%) | |||||||
6.779%(c) | 10/20/34 | 250 | 249,875 | ||||
KKR CLO Ltd. (Cayman Islands), | |||||||
Series 33A, Class A, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%) | |||||||
6.749%(c) | 07/20/34 | 250 | 249,546 | ||||
KKR CLO Ltd., | |||||||
Series 30A, Class A1R, 144A, 3 Month SOFR + 1.282% (Cap N/A, Floor 1.020%) | |||||||
6.598%(c) | 10/17/31 | 750 | 751,243 | ||||
Logan CLO Ltd. (Cayman Islands), | |||||||
Series 2021-01A, Class A, 144A, 3 Month SOFR + 1.422% (Cap N/A, Floor 1.160%) | |||||||
6.739%(c) | 07/20/34 | 250 | 250,175 | ||||
Madison Park Funding Ltd. (Cayman Islands), | |||||||
Series 2016-21A, Class AARR, 144A, 3 Month SOFR + 1.342% (Cap N/A, Floor 1.342%) | |||||||
6.656%(c) | 10/15/32 | 750 | 750,269 | ||||
Series 2019-34A, Class AR, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.120%) | |||||||
6.706%(c) | 04/25/32 | 500 | 500,801 | ||||
Series 2021-38A, Class A, 144A, 3 Month SOFR + 1.382% (Cap N/A, Floor 1.382%) | |||||||
6.698%(c) | 07/17/34 | 250 | 250,150 | ||||
Series 2021-59A, Class A, 144A, 3 Month SOFR + 1.402% (Cap N/A, Floor 1.140%) | |||||||
6.700%(c) | 01/18/34 | 250 | 250,050 | ||||
MidOcean Credit CLO (Cayman Islands), | |||||||
Series 2018-09A, Class A1, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | |||||||
6.729%(c) | 07/20/31 | 196 | 195,142 | ||||
Series 2019-10A, Class A1R, 144A, 3 Month SOFR + 1.492% (Cap N/A, Floor 1.230%) | |||||||
6.807%(c) | 10/23/34 | 1,250 | 1,248,754 | ||||
Mountain View CLO Ltd. (Cayman Islands), | |||||||
Series 2013-01A, Class ARR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) | |||||||
6.588%(c) | 10/12/30 | 434 | 434,016 | ||||
Series 2019-01A, Class A1R, 144A, 3 Month SOFR + 1.512% (Cap N/A, Floor 1.250%) | |||||||
6.826%(c) | 10/15/34 | 750 | 749,115 | ||||
Ocean Trails CLO (Cayman Islands), | |||||||
Series 2014-05A, Class ARR, 144A, 3 Month SOFR + 1.542% (Cap N/A, Floor 1.280%) | |||||||
6.856%(c) | 10/13/31 | 690 | 689,496 | ||||
Series 2020-09A, Class A1R, 144A, 3 Month SOFR + 1.482% (Cap N/A, Floor 1.220%) | |||||||
6.796%(c) | 10/15/34 | 250 | 250,573 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Collateralized Loan Obligations (cont’d.) | |||||||
OCP CLO Ltd. (Cayman Islands), | |||||||
Series 2020-18A, Class AR, 144A, 3 Month SOFR + 1.352% (Cap N/A, Floor 1.352%) | |||||||
6.669%(c) | 07/20/32 | 1,250 | $1,250,667 | ||||
OZLM Ltd. (Cayman Islands), | |||||||
Series 2018-20A, Class A1, 144A, 3 Month SOFR + 1.312% (Cap N/A, Floor 1.050%) | |||||||
6.629%(c) | 04/20/31 | 201 | 201,298 | ||||
Palmer Square CLO Ltd. (Cayman Islands), | |||||||
Series 2015-01A, Class A1A4, 144A, 3 Month SOFR + 1.392% (Cap N/A, Floor 1.392%) | |||||||
6.706%(c) | 05/21/34 | 500 | 500,341 | ||||
Park Avenue Institutional Advisers CLO Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A1AR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%) | |||||||
6.579%(c) | 10/20/31 | 1,244 | 1,243,902 | ||||
Series 2019-02A, Class A1R, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%) | |||||||
6.756%(c) | 10/15/34 | 250 | 250,013 | ||||
Rockford Tower CLO Ltd. (Cayman Islands), | |||||||
Series 2018-02A, Class A, 144A, 3 Month SOFR + 1.422% (Cap N/A, Floor 1.160%) | |||||||
6.739%(c) | 10/20/31 | 470 | 469,703 | ||||
Romark CLO Ltd. (Cayman Islands), | |||||||
Series 2021-04A, Class A1, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%) | |||||||
6.757%(c) | 07/10/34 | 1,000 | 1,000,713 | ||||
Romark WM-R Ltd. (Cayman Islands), | |||||||
Series 2018-01A, Class A1, 144A, 3 Month SOFR + 1.292% (Cap N/A, Floor 0.000%) | |||||||
6.609%(c) | 04/20/31 | 638 | 638,986 | ||||
Shackleton CLO Ltd. (Cayman Islands), | |||||||
Series 2014-05RA, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 0.262%) | |||||||
6.678%(c) | 05/07/31 | 865 | 865,941 | ||||
Sound Point CLO Ltd. (Cayman Islands), | |||||||
Series 2014-03RA, Class A1R, 144A, 3 Month SOFR + 1.332% (Cap N/A, Floor 1.070%) | |||||||
6.647%(c) | 10/23/31 | 250 | 250,173 | ||||
TCW CLO Ltd. (Cayman Islands), | |||||||
Series 2017-01A, Class A1RR, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.180%) | |||||||
6.761%(c) | 10/29/34 | 250 | 250,273 | ||||
Series 2019-02A, Class A1R, 144A, 3 Month SOFR + 1.280% (Cap N/A, Floor 1.280%) | |||||||
6.598%(c) | 10/20/32 | 1,750 | 1,750,878 | ||||
Telos CLO Ltd. (Cayman Islands), | |||||||
Series 2013-04A, Class AR, 144A, 3 Month SOFR + 1.502% (Cap N/A, Floor 0.000%) | |||||||
6.818%(c) | 01/17/30 | 120 | 119,792 | ||||
THL Credit Wind River CLO Ltd. (Cayman Islands), | |||||||
Series 2019-01A, Class AR, 144A, 3 Month SOFR + 1.422% (Cap N/A, Floor 1.160%) | |||||||
6.739%(c) | 07/20/34 | 500 | 497,150 |
A3
AST TARGET MATURITY CENTRAL 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.) | |||||||
TICP CLO Ltd. (Cayman Islands), | |||||||
Series 2017-09A, Class A, 144A, 3 Month SOFR + 1.402% (Cap N/A, Floor 1.140%) | |||||||
6.719%(c) | 01/20/31 | 304 | $303,816 | ||||
Tralee CLO Ltd. (Cayman Islands), | |||||||
Series 2019-06A, Class A1R, 144A, 3 Month SOFR + 1.432% (Cap N/A, Floor 1.170%) | |||||||
6.756%(c) | 10/25/32 | 1,000 | 1,001,048 | ||||
Venture CLO Ltd. (Cayman Islands), | |||||||
Series 2014-19A, Class ARR, 144A, 3 Month SOFR + 1.522% (Cap N/A, Floor 1.260%) | |||||||
6.836%(c) | 01/15/32 | 500 | 500,710 | ||||
Series 2021-43A, Class A1, 144A, 3 Month SOFR + 1.502% (Cap N/A, Floor 1.240%) | |||||||
6.816%(c) | 04/15/34 | 250 | 249,491 | ||||
Voya CLO Ltd. (Cayman Islands), | |||||||
Series 2014-01A, Class AAR2, 144A, 3 Month SOFR + 1.252% (Cap N/A, Floor 0.000%) | |||||||
6.550%(c) | 04/18/31 | 559 | 559,159 | ||||
Series 2015-01A, Class A1R, 144A, 3 Month SOFR + 1.162% (Cap N/A, Floor 0.900%) | |||||||
6.460%(c) | 01/18/29 | 88 | 88,193 | ||||
Wellfleet CLO Ltd. (Cayman Islands), | |||||||
Series 2016-02A, Class A1R, 144A, 3 Month SOFR + 1.402% (Cap N/A, Floor 1.140%) | |||||||
6.719%(c) | 10/20/28 | 54 | 54,176 | ||||
Series 2018-01A, Class A, 144A, 3 Month SOFR + 1.362% (Cap N/A, Floor 1.100%) | |||||||
6.678%(c) | 07/17/31 | 1,045 | 1,045,169 | ||||
Series 2020-01A, Class A1A, 144A, 3 Month SOFR + 1.572% (Cap N/A, Floor 1.310%) | |||||||
6.886%(c) | 04/15/33 | 250 | 250,113 | ||||
Wellfleet CLO Ltd., | |||||||
Series 2017-03A, Class A1, 144A, 3 Month SOFR + 1.412% (Cap N/A, Floor 1.150%) | |||||||
6.728%(c) | 01/17/31 | 1,683 | 1,684,078 | ||||
Wind River CLO Ltd. (Cayman Islands), | |||||||
Series 2016-01KRA, Class A1R2, 144A, 3 Month SOFR + 1.472% (Cap N/A, Floor 1.210%) | |||||||
6.786%(c) | 10/15/34 | 250 | 249,788 | ||||
Zais CLO Ltd. (Cayman Islands), | |||||||
Series 2017-02A, Class A, 144A, 3 Month SOFR + 1.552% (Cap N/A, Floor 0.000%) | |||||||
6.866%(c) | 04/15/30 | 114 | 114,529 | ||||
43,664,237 | |||||||
Consumer Loans — 0.9% | |||||||
OneMain Financial Issuance Trust, | |||||||
Series 2020-02A, Class A, 144A | |||||||
1.750% | 09/14/35 | 600 | 558,816 | ||||
Series 2021-01A, Class A2, 144A, 30 Day Average SOFR + 0.760% (Cap N/A, Floor 0.000%) | |||||||
6.079%(c) | 06/16/36 | 600 | 597,859 | ||||
Series 2022-02A, Class A, 144A | |||||||
4.890% | 10/14/34 | 990 | 982,939 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Asset-Backed Securities (continued) | |||||||
Consumer Loans (cont’d.) | |||||||
Series 2023-02A, Class A1, 144A | |||||||
5.840% | 09/15/36 | 1,800 | $1,827,507 | ||||
3,967,121 | |||||||
Credit Cards — 0.3% | |||||||
Discover Card Execution Note Trust, | |||||||
Series 2017-A04, Class A4 | |||||||
2.530% | 10/15/26 | 1,100 | 1,098,621 | ||||
Home Equity Loans — 0.2% | |||||||
Towd Point HE Trust, | |||||||
Series 2023-01, Class A1A, 144A | |||||||
6.875% | 02/25/63 | 155 | 155,488 | ||||
Towd Point Mortgage Trust, | |||||||
Series 2023-CES02, Class A1A, 144A | |||||||
7.294%(cc) | 10/25/63 | 379 | 385,678 | ||||
Series 2024-CES01, Class A1A, 144A | |||||||
5.848%(cc) | 01/25/64 | 98 | 97,970 | ||||
Series 2024-CES02, Class A1A, 144A | |||||||
6.125%(cc) | 02/25/64 | 99 | 99,180 | ||||
738,316 | |||||||
Student Loans — 0.0% | |||||||
ELFI Graduate Loan Program LLC, | |||||||
Series 2020-A, Class A, 144A | |||||||
1.730% | 08/25/45 | 31 | 27,143 | ||||
SoFi Professional Loan Program LLC, | |||||||
Series 2017-F, Class A2FX, 144A | |||||||
2.840% | 01/25/41 | 11 | 10,846 | ||||
SoFi Professional Loan Program Trust, | |||||||
Series 2020-A, Class A2FX, 144A | |||||||
2.540% | 05/15/46 | 49 | 45,640 | ||||
83,629 | |||||||
Total Asset-Backed Securities (cost $85,377,865) | 85,337,925 | ||||||
Commercial Mortgage-Backed Securities —18.4% | |||||||
3650R Commercial Mortgage Trust, | |||||||
Series 2021-PF01, Class A1 | |||||||
1.122% | 11/15/54 | 323 | 303,993 | ||||
BANK, | |||||||
Series 2017-BNK06, Class A4 | |||||||
3.254% | 07/15/60 | 260 | 245,514 | ||||
Series 2017-BNK08, Class A3 | |||||||
3.229% | 11/15/50 | 7 | 6,356 | ||||
Series 2019-BN19, Class A1 | |||||||
2.263% | 08/15/61 | 114 | 107,315 | ||||
Series 2019-BN19, Class A2 | |||||||
2.926% | 08/15/61 | 4,390 | 3,972,435 | ||||
Series 2019-BN20, Class A2 | |||||||
2.758% | 09/15/62 | 1,642 | 1,444,418 | ||||
Series 2020-BN25, Class A3 | |||||||
2.391% | 01/15/63 | 48 | 46,036 |
A4
AST TARGET MATURITY CENTRAL 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-BN25, Class A4 | |||||||
2.399% | 01/15/63 | 650 | $568,271 | ||||
Series 2020-BN26, Class A3 | |||||||
2.155% | 03/15/63 | 250 | 213,583 | ||||
Series 2020-BN28, Class A3 | |||||||
1.584% | 03/15/63 | 1,489 | 1,240,947 | ||||
Series 2020-BN29, Class A1 | |||||||
0.549% | 11/15/53 | 689 | 656,050 | ||||
Series 2021-BN31, Class A3 | |||||||
1.771% | 02/15/54 | 5,100 | 4,194,050 | ||||
Series 2021-BN36, Class A1 | |||||||
0.801% | 09/15/64 | 285 | 270,072 | ||||
Series 2021-BN38, Class A1 | |||||||
1.274% | 12/15/64 | 923 | 870,731 | ||||
Series 2022-BNK42, Class A5 | |||||||
4.493%(cc) | 06/15/55 | 850 | 814,296 | ||||
Barclays Commercial Mortgage Securities Trust, | |||||||
Series 2020-C06, Class A1 | |||||||
1.806% | 02/15/53 | 35 | 34,531 | ||||
Series 2021-C10, Class ASB | |||||||
2.268% | 07/15/54 | 275 | 244,755 | ||||
Series 2021-C11, Class A4 | |||||||
2.043% | 09/15/54 | 165 | 137,522 | ||||
Benchmark Mortgage Trust, | |||||||
Series 2020-B16, Class A3 | |||||||
2.475% | 02/15/53 | 100 | 93,641 | ||||
Series 2020-B17, Class A1 | |||||||
1.282% | 03/15/53 | 38 | 36,492 | ||||
Series 2020-B17, Class A4 | |||||||
2.042% | 03/15/53 | 1,475 | 1,223,882 | ||||
Series 2020-B19, Class A4 | |||||||
1.546% | 09/15/53 | 2,100 | 1,762,182 | ||||
Series 2020-B20, Class A3 | |||||||
1.945% | 10/15/53 | 750 | 647,386 | ||||
Series 2020-B21, Class A1 | |||||||
0.537% | 12/17/53 | 77 | 74,780 | ||||
Series 2020-B21, Class A4 | |||||||
1.704% | 12/17/53 | 500 | 412,395 | ||||
Series 2020-B22, Class A1 | |||||||
0.509% | 01/15/54 | 324 | 307,577 | ||||
Series 2021-B23, Class A4A1 | |||||||
1.823% | 02/15/54 | 100 | 80,197 | ||||
Series 2021-B24, Class A3 | |||||||
2.010% | 03/15/54 | 1,200 | 1,059,515 | ||||
Series 2021-B25, Class ASB | |||||||
2.271% | 04/15/54 | 250 | 223,683 | ||||
Series 2021-B26, Class A1 | |||||||
0.747% | 06/15/54 | 1,557 | 1,461,960 | ||||
Series 2021-B28, Class A1 | |||||||
0.597% | 08/15/54 | 938 | 880,703 | ||||
Series 2022-B35, Class ASB | |||||||
4.444%(cc) | 05/15/55 | 3,400 | 3,317,361 | ||||
Series 2024-V05, Class A3 | |||||||
5.805% | 01/10/57 | 1,500 | 1,544,539 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
BPR Trust, | |||||||
Series 2021-TY, Class D, 144A, 1 Month SOFR + 2.464% (Cap N/A, Floor 2.350%) | |||||||
7.790%(c) | 09/15/38 | 990 | $975,769 | ||||
CD Mortgage Trust, | |||||||
Series 2016-CD2, Class A3 | |||||||
3.248% | 11/10/49 | 246 | 233,428 | ||||
Series 2017-CD06, Class A4 | |||||||
3.190% | 11/13/50 | 500 | 468,592 | ||||
CFCRE Commercial Mortgage Trust, | |||||||
Series 2016-C04, Class ASB | |||||||
3.091% | 05/10/58 | 162 | 158,145 | ||||
Series 2016-C07, Class A2 | |||||||
3.585% | 12/10/54 | 48 | 46,034 | ||||
Series 2017-C08, Class A4 | |||||||
3.572% | 06/15/50 | 1,399 | 1,317,249 | ||||
CGMS Commercial Mortgage Trust, | |||||||
Series 2017-B01, Class A3 | |||||||
3.197% | 08/15/50 | 290 | 271,446 | ||||
Citigroup Commercial Mortgage Trust, | |||||||
Series 2014-GC23, Class AAB | |||||||
3.337% | 07/10/47 | 37 | 36,446 | ||||
Series 2014-GC25, Class A3 | |||||||
3.372% | 10/10/47 | 49 | 48,481 | ||||
Series 2015-GC31, Class A3 | |||||||
3.497% | 06/10/48 | 3,170 | 3,091,721 | ||||
Series 2015-GC33, Class AAB | |||||||
3.522% | 09/10/58 | 92 | 90,108 | ||||
Series 2015-P01, Class A4 | |||||||
3.462% | 09/15/48 | 1,300 | 1,271,306 | ||||
Series 2016-P04, Class A3 | |||||||
2.646% | 07/10/49 | 20 | 18,903 | ||||
Series 2017-P07, Class AAB | |||||||
3.509% | 04/14/50 | 231 | 225,467 | ||||
Series 2017-P08, Class A3 | |||||||
3.203% | 09/15/50 | 1,030 | 963,373 | ||||
Commercial Mortgage Trust, | |||||||
Series 2014-CR19, Class A4 | |||||||
3.532% | 08/10/47 | 15 | 14,805 | ||||
Series 2014-CR21, Class A3 | |||||||
3.528% | 12/10/47 | 404 | 395,312 | ||||
Series 2014-UBS04, Class A4 | |||||||
3.420% | 08/10/47 | 594 | 592,711 | ||||
Series 2014-UBS05, Class A4 | |||||||
3.838% | 09/10/47 | 2,687 | 2,655,046 | ||||
Series 2014-UBS06, Class A4 | |||||||
3.378% | 12/10/47 | 138 | 136,419 | ||||
Series 2015-CR22, Class A3 | |||||||
3.207% | 03/10/48 | 41 | 40,030 | ||||
Series 2015-CR23, Class ASB | |||||||
3.257% | 05/10/48 | 68 | 67,325 | ||||
Series 2015-CR25, Class A3 | |||||||
3.505% | 08/10/48 | 33 | 32,017 | ||||
Series 2015-CR25, Class ASB | |||||||
3.537% | 08/10/48 | 271 | 267,684 |
A5
AST TARGET MATURITY CENTRAL 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 2015-CR26, Class A3 | |||||||
3.359% | 10/10/48 | 43 | $41,783 | ||||
Series 2015-LC21, Class A3 | |||||||
3.445% | 07/10/48 | 401 | 393,194 | ||||
Series 2015-LC21, Class A4 | |||||||
3.708% | 07/10/48 | 50 | 48,731 | ||||
Series 2015-LC23, Class A3 | |||||||
3.521% | 10/10/48 | 752 | 736,599 | ||||
Series 2015-PC01, Class A5 | |||||||
3.902% | 07/10/50 | 1,253 | 1,227,537 | ||||
Series 2016-COR01, Class A3 | |||||||
2.826% | 10/10/49 | 297 | 280,067 | ||||
Series 2016-COR1, Class ASB | |||||||
2.972% | 10/10/49 | 555 | 538,068 | ||||
Credit Suisse Mortgage Trust, | |||||||
Series 2016-NXSR, Class A4 | |||||||
3.795%(cc) | 12/15/49 | 500 | 473,472 | ||||
CSAIL Commercial Mortgage Trust, | |||||||
Series 2015-C01, Class A3 | |||||||
3.236% | 04/15/50 | 47 | 45,791 | ||||
Series 2015-C03, Class A4 | |||||||
3.718% | 08/15/48 | 1,067 | 1,035,917 | ||||
Series 2019-C16, Class A2 | |||||||
3.067% | 06/15/52 | 100 | 90,380 | ||||
Series 2019-C17, Class A4 | |||||||
2.763% | 09/15/52 | 1,380 | 1,215,164 | ||||
Series 2020-C19, Class A2 | |||||||
2.320% | 03/15/53 | 2,150 | 1,816,988 | ||||
FHLMC Multifamily Structured Pass-Through Certificates, | |||||||
Series K736, Class X1, IO | |||||||
1.281%(cc) | 07/25/26 | 113,985 | 2,537,456 | ||||
GS Mortgage Securities Trust, | |||||||
Series 2015-GC32, Class A3 | |||||||
3.498% | 07/10/48 | 1,794 | 1,748,612 | ||||
Series 2015-GS01, Class AAB | |||||||
3.553% | 11/10/48 | 967 | 949,427 | ||||
Series 2019-GC42, Class A3 | |||||||
2.749% | 09/10/52 | 1,000 | 887,741 | ||||
Series 2020-GC45, Class A1 | |||||||
2.019% | 02/13/53 | 16 | 16,041 | ||||
Series 2020-GC45, Class A3 | |||||||
2.639% | 02/13/53 | 100 | 93,924 | ||||
Series 2020-GC45, Class A4 | |||||||
2.658% | 02/13/53 | 100 | 87,658 | ||||
Series 2020-GC47, Class A4 | |||||||
2.125% | 05/12/53 | 1,068 | 904,751 | ||||
Series 2021-GSA03, Class A4 | |||||||
2.369% | 12/15/54 | 100 | 82,538 | ||||
JPMBB Commercial Mortgage Securities Trust, | |||||||
Series 2014-C22, Class A4 | |||||||
3.801% | 09/15/47 | 1,283 | 1,269,590 | ||||
Series 2014-C24, Class A4A1 | |||||||
3.373% | 11/15/47 | 3,225 | 3,192,036 | ||||
Series 2014-C24, Class A5 | |||||||
3.639% | 11/15/47 | 2,000 | 1,965,590 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Commercial Mortgage-Backed Securities (continued) | |||||||
Series 2015-C28, Class A3 | |||||||
2.912% | 10/15/48 | 832 | $816,120 | ||||
JPMorgan Chase Commercial Mortgage Securities Trust, | |||||||
Series 2016-JP02, Class ASB | |||||||
2.713% | 08/15/49 | 41 | 39,961 | ||||
Ladder Capital Commercial Mortgage Securities Trust, | |||||||
Series 2017-LC26, Class A4, 144A | |||||||
3.551% | 07/12/50 | 500 | 471,668 | ||||
Morgan Stanley Bank of America Merrill Lynch Trust, | |||||||
Series 2015-C21, Class A3 | |||||||
3.077% | 03/15/48 | 39 | 38,064 | ||||
Series 2015-C23, Class A3 | |||||||
3.451% | 07/15/50 | 5,839 | 5,692,895 | ||||
Series 2015-C23, Class ASB | |||||||
3.398% | 07/15/50 | 71 | 69,731 | ||||
Series 2015-C24, Class A4 | |||||||
3.732% | 05/15/48 | 998 | 969,858 | ||||
Series 2015-C26, Class ASB | |||||||
3.323% | 10/15/48 | 99 | 97,105 | ||||
Series 2015-C27, Class ASB | |||||||
3.557% | 12/15/47 | 124 | 122,440 | ||||
Series 2016-C032, Class ASB | |||||||
3.514% | 12/15/49 | 545 | 530,405 | ||||
Series 2016-C31, Class A4 | |||||||
2.840% | 11/15/49 | 510 | 482,181 | ||||
Morgan Stanley Capital I Trust, | |||||||
Series 2021-L06, Class ASB | |||||||
2.250%(cc) | 06/15/54 | 350 | 311,406 | ||||
Series 2021-L07, Class A1 | |||||||
0.881% | 10/15/54 | 832 | 781,718 | ||||
UBS Commercial Mortgage Trust, | |||||||
Series 2017-C04, Class A3 | |||||||
3.301% | 10/15/50 | 246 | 230,292 | ||||
Series 2018-C08, Class ASB | |||||||
3.903% | 02/15/51 | 271 | 263,338 | ||||
Series 2019-C17, Class A2 | |||||||
2.313% | 10/15/52 | 203 | 201,011 | ||||
Wells Fargo Commercial Mortgage Trust, | |||||||
Series 2015-C29, Class A3 | |||||||
3.368% | 06/15/48 | 332 | 324,795 | ||||
Series 2015-LC20, Class A3 | |||||||
3.086% | 04/15/50 | 100 | 97,514 | ||||
Series 2015-LC20, Class A5 | |||||||
3.184% | 04/15/50 | 400 | 387,258 | ||||
Series 2016-BNK1, Class A3 | |||||||
2.652% | 08/15/49 | 2,000 | 1,856,635 | ||||
Series 2016-LC24, Class A4 | |||||||
2.942% | 10/15/49 | 275 | 259,005 | ||||
Series 2016-NXS05, Class A5 | |||||||
3.372% | 01/15/59 | 2,028 | 1,951,161 | ||||
Series 2017-C41, Class A2 | |||||||
2.590% | 11/15/50 | 1,263 | 1,169,385 | ||||
Series 2020-C55, Class A3 | |||||||
2.462% | 02/15/53 | 100 | 93,069 |
A6
AST TARGET MATURITY CENTRAL 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-C57, Class A1 | |||||||
0.903% | 08/15/53 | 1,048 | $1,009,959 | ||||
Total Commercial Mortgage-Backed Securities (cost $83,142,312) | 81,861,014 | ||||||
Corporate Bonds — 28.3% | |||||||
Aerospace & Defense — 0.7% | |||||||
BAE Systems PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.125% | 03/26/29 | 665 | 667,349 | ||||
Boeing Co. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.700% | 02/01/27 | 220 | 202,663 | ||||
2.950% | 02/01/30 | 1,130 | 975,627 | ||||
3.550% | 03/01/38 | 780 | 588,196 | ||||
3.625% | 03/01/48 | 850 | 580,054 | ||||
General Dynamics Corp., | |||||||
Gtd. Notes | |||||||
3.625% | 04/01/30 | 5 | 4,703 | ||||
3,018,592 | |||||||
Agriculture — 0.3% | |||||||
BAT Capital Corp. (United Kingdom), | |||||||
Gtd. Notes | |||||||
3.557% | 08/15/27 | 54 | 51,104 | ||||
4.700% | 04/02/27 | 1,180 | 1,160,975 | ||||
BAT International Finance PLC (United Kingdom), | |||||||
Gtd. Notes | |||||||
4.448% | 03/16/28 | 290 | 281,053 | ||||
1,493,132 | |||||||
Airlines — 0.0% | |||||||
United Airlines 2019-2 Class AA Pass-Through Trust, | |||||||
Pass-Through Certificates | |||||||
2.700% | 11/01/33 | 42 | 35,726 | ||||
Auto Manufacturers — 0.4% | |||||||
General Motors Financial Co., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.350% | 01/08/31(a) | 425 | 351,328 | ||||
2.400% | 04/10/28(a) | 545 | 489,913 | ||||
2.400% | 10/15/28 | 220 | 194,853 | ||||
3.800% | 04/07/25 | 30 | 29,450 | ||||
5.000% | 04/09/27(a) | 550 | 546,118 | ||||
1,611,662 | |||||||
Banks — 8.7% | |||||||
Bank of America Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.015%(ff) | 02/13/26 | 720 | 697,618 | ||||
2.087%(ff) | 06/14/29 | 260 | 229,757 | ||||
2.972%(ff) | 02/04/33 | 3,890 | 3,300,352 | ||||
3.194%(ff) | 07/23/30 | 35 | 31,766 | ||||
3.384%(ff) | 04/02/26 | 640 | 625,972 | ||||
4.376%(ff) | 04/27/28(a) | 2,720 | 2,655,719 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
Sr. Unsec’d. Notes, Series N | |||||||
2.651%(ff) | 03/11/32 | 40 | $33,771 | ||||
Sub. Notes, MTN | |||||||
4.000% | 01/22/25 | 95 | 93,665 | ||||
Bank of New York Mellon Corp. (The), | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
1.600% | 04/24/25 | 45 | 43,304 | ||||
Barclays PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
3.932%(ff) | 05/07/25 | 520 | 518,906 | ||||
BNP Paribas SA (France), | |||||||
Sr. Non-Preferred Notes, 144A | |||||||
1.323%(ff) | 01/13/27 | 1,470 | 1,365,756 | ||||
1.904%(ff) | 09/30/28 | 500 | 444,557 | ||||
Citigroup, Inc., | |||||||
Jr. Sub. Notes, Series V | |||||||
4.700%(ff) | 01/30/25(oo) | 165 | 161,424 | ||||
Sr. Unsec’d. Notes | |||||||
2.666%(ff) | 01/29/31 | 630 | 546,206 | ||||
2.976%(ff) | 11/05/30 | 250 | 222,026 | ||||
3.057%(ff) | 01/25/33 | 3,005 | 2,550,232 | ||||
3.106%(ff) | 04/08/26 | 275 | 268,105 | ||||
3.352%(ff) | 04/24/25 | 160 | 159,723 | ||||
3.400% | 05/01/26 | 150 | 144,466 | ||||
Sub. Notes | |||||||
4.450% | 09/29/27 | 15 | 14,587 | ||||
6.174%(ff) | 05/25/34 | 450 | 457,201 | ||||
Deutsche Bank AG (Germany), | |||||||
Sr. Non-Preferred Notes | |||||||
3.961%(ff) | 11/26/25 | 275 | 271,093 | ||||
Goldman Sachs Group, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
1.431%(ff) | 03/09/27 | 50 | 46,303 | ||||
1.542%(ff) | 09/10/27 | 5,150 | 4,704,904 | ||||
2.600% | 02/07/30 | 25 | 21,892 | ||||
2.615%(ff) | 04/22/32 | 260 | 218,069 | ||||
3.500% | 01/23/25 | 60 | 59,048 | ||||
3.500% | 04/01/25 | 190 | 186,457 | ||||
3.615%(ff) | 03/15/28 | 370 | 353,917 | ||||
3.850% | 01/26/27 | 170 | 164,816 | ||||
JPMorgan Chase & Co., | |||||||
Jr. Sub. Notes, Series HH | |||||||
4.600%(ff) | 02/01/25(oo) | 120 | 118,267 | ||||
Jr. Sub. Notes, Series II | |||||||
4.000%(ff) | 04/01/25(oo) | 240 | 233,468 | ||||
Sr. Unsec’d. Notes | |||||||
1.045%(ff) | 11/19/26 | 260 | 242,522 | ||||
1.578%(ff) | 04/22/27 | 260 | 241,114 | ||||
1.953%(ff) | 02/04/32 | 30 | 24,427 | ||||
2.069%(ff) | 06/01/29 | 150 | 133,033 | ||||
2.963%(ff) | 01/25/33(a) | 4,735 | 4,044,101 | ||||
4.005%(ff) | 04/23/29 | 55 | 52,692 | ||||
Lloyds Banking Group PLC (United Kingdom), | |||||||
Sr. Unsec’d. Notes | |||||||
5.985%(ff) | 08/07/27 | 725 | 731,480 |
A7
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Banks (cont’d.) | |||||||
Morgan Stanley, | |||||||
Sr. Unsec’d. Notes | |||||||
1.593%(ff) | 05/04/27 | 290 | $268,218 | ||||
4.210%(ff) | 04/20/28 | 485 | 471,267 | ||||
Sr. Unsec’d. Notes, GMTN | |||||||
2.239%(ff) | 07/21/32 | 15 | 12,232 | ||||
2.699%(ff) | 01/22/31 | 1,040 | 908,908 | ||||
Sr. Unsec’d. Notes, MTN | |||||||
2.943%(ff) | 01/21/33 | 4,935 | 4,192,126 | ||||
Sub. Notes, GMTN | |||||||
4.350% | 09/08/26 | 545 | 533,218 | ||||
Sub. Notes, MTN | |||||||
3.950% | 04/23/27 | 55 | 53,118 | ||||
PNC Financial Services Group, Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.550% | 01/22/30 | 20 | 17,452 | ||||
Royal Bank of Canada (Canada), | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
3.375% | 04/14/25 | 20 | 19,606 | ||||
Societe Generale SA (France), | |||||||
Sr. Non-Preferred Notes, 144A | |||||||
1.488%(ff) | 12/14/26 | 200 | 185,764 | ||||
State Street Corp., | |||||||
Sr. Sub. Notes | |||||||
2.200% | 03/03/31 | 25 | 20,928 | ||||
Sumitomo Mitsui Financial Group, Inc. (Japan), | |||||||
Sr. Unsec’d. Notes | |||||||
1.902% | 09/17/28 | 260 | 227,877 | ||||
Sumitomo Mitsui Trust Bank Ltd. (Japan), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
2.800% | 03/10/27(a) | 200 | 187,476 | ||||
UBS AG (Switzerland), | |||||||
Sr. Unsec’d. Notes | |||||||
1.250% | 06/01/26 | 205 | 188,478 | ||||
UBS Group AG (Switzerland), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.091%(ff) | 05/14/32 | 250 | 211,875 | ||||
4.488%(ff) | 05/12/26 | 390 | 384,355 | ||||
Sr. Unsec’d. Notes, 144A, SOFR + 1.580% | |||||||
6.934%(c) | 05/12/26 | 1,210 | 1,218,591 | ||||
Wells Fargo & Co., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
2.164%(ff) | 02/11/26 | 25 | 24,254 | ||||
2.572%(ff) | 02/11/31 | 3,210 | 2,765,970 | ||||
3.526%(ff) | 03/24/28 | 695 | 661,549 | ||||
3.908%(ff) | 04/25/26 | 20 | 19,630 | ||||
38,985,608 | |||||||
Beverages — 0.2% | |||||||
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. (Belgium), | |||||||
Gtd. Notes | |||||||
4.900% | 02/01/46 | 720 | 684,089 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Beverages (cont’d.) | |||||||
PepsiCo, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.625% | 03/19/27 | 20 | $18,858 | ||||
702,947 | |||||||
Biotechnology — 0.4% | |||||||
Amgen, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.000% | 02/22/29 | 30 | 27,756 | ||||
5.250% | 03/02/33 | 1,720 | 1,734,618 | ||||
Baxalta, Inc., | |||||||
Gtd. Notes | |||||||
4.000% | 06/23/25 | 60 | 59,009 | ||||
1,821,383 | |||||||
Chemicals — 0.1% | |||||||
Chevron Phillips Chemical Co. LLC/Chevron Phillips Chemical Co. LP, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.125% | 04/01/25 | 165 | 164,257 | ||||
FMC Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.450% | 10/01/29 | 195 | 175,619 | ||||
339,876 | |||||||
Commercial Services — 0.2% | |||||||
DP World Ltd. (United Arab Emirates), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.375% | 09/25/26 | EUR | 231 | 240,414 | |||
ERAC USA Finance LLC, | |||||||
Gtd. Notes, 144A | |||||||
3.800% | 11/01/25 | 70 | 68,237 | ||||
Global Payments, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.650% | 02/15/25 | 15 | 14,612 | ||||
Moody’s Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.750% | 03/24/25 | 50 | 49,159 | ||||
Trustees of Princeton University (The), | |||||||
Unsec’d. Notes | |||||||
4.201% | 03/01/52 | 695 | 633,512 | ||||
1,005,934 | |||||||
Cosmetics/Personal Care — 0.0% | |||||||
Procter & Gamble Co. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
3.000% | 03/25/30 | 5 | 4,607 | ||||
Distribution/Wholesale — 0.0% | |||||||
Ritchie Bros Holdings, Inc. (Canada), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
6.750% | 03/15/28 | 50 | 50,875 | ||||
Diversified Financial Services — 0.6% | |||||||
Cantor Fitzgerald LP, | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.500% | 04/14/27 | 1,990 | 1,899,259 |
A8
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Diversified Financial Services (cont’d.) | |||||||
Capital One Financial Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.273%(ff) | 03/01/30 | 20 | $18,019 | ||||
Charles Schwab Corp. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.750% | 10/01/29 | 70 | 62,786 | ||||
Nomura Holdings, Inc. (Japan), | |||||||
Sr. Unsec’d. Notes | |||||||
2.172% | 07/14/28 | 200 | 175,786 | ||||
2.710% | 01/22/29 | 200 | 177,867 | ||||
Ontario Teachers’ Finance Trust (Canada), | |||||||
Gtd. Notes, 144A | |||||||
0.875% | 09/21/26 | 250 | 227,651 | ||||
2,561,368 | |||||||
Electric — 3.8% | |||||||
AEP Texas, Inc., | |||||||
Sr. Unsec’d. Notes, Series I | |||||||
2.100% | 07/01/30 | 1,445 | 1,204,024 | ||||
AEP Transmission Co. LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
4.250% | 09/15/48 | 1,070 | 893,596 | ||||
Arizona Public Service Co., | |||||||
Sr. Unsec’d. Notes | |||||||
2.200% | 12/15/31 | 50 | 40,632 | ||||
Atlantic City Electric Co., | |||||||
First Mortgage | |||||||
2.300% | 03/15/31 | 20 | 16,781 | ||||
Avangrid, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.200% | 04/15/25 | 130 | 126,726 | ||||
CenterPoint Energy Houston Electric LLC, | |||||||
First Mortgage, Series AE | |||||||
2.350% | 04/01/31 | 20 | 16,963 | ||||
Commonwealth Edison Co., | |||||||
First Mortgage, Series 130 | |||||||
3.125% | 03/15/51 | 1,570 | 1,068,846 | ||||
Dominion Energy, Inc., | |||||||
Sr. Unsec’d. Notes, Series B | |||||||
3.600% | 03/15/27 | 30 | 28,796 | ||||
Sr. Unsec’d. Notes, Series D | |||||||
2.850% | 08/15/26 | 75 | 70,879 | ||||
Duke Energy Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.650% | 09/01/26 | 185 | 174,639 | ||||
Duke Energy Florida LLC, | |||||||
First Mortgage | |||||||
2.400% | 12/15/31 | 15 | 12,590 | ||||
Emera US Finance LP (Canada), | |||||||
Gtd. Notes | |||||||
3.550% | 06/15/26 | 1,190 | 1,141,968 | ||||
Enel Finance International NV (Italy), | |||||||
Gtd. Notes, 144A | |||||||
1.875% | 07/12/28 | 210 | 183,975 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Electric (cont’d.) | |||||||
Entergy Louisiana LLC, | |||||||
Collateral Trust | |||||||
4.000% | 03/15/33 | 3,000 | $2,756,214 | ||||
Eskom Holdings SOC Ltd. (South Africa), | |||||||
Gov’t. Gtd. Notes, 144A, MTN | |||||||
6.350% | 08/10/28 | 200 | 191,500 | ||||
Evergy, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.450% | 09/15/24 | 40 | 39,381 | ||||
Hydro-Quebec (Canada), | |||||||
Local Gov’t. Gtd. Notes, Series GF | |||||||
8.875% | 03/01/26 | 3,300 | 3,505,389 | ||||
Nevada Power Co., | |||||||
General Ref. Mortgage, Series CC | |||||||
3.700% | 05/01/29 | 40 | 38,054 | ||||
Northern States Power Co., | |||||||
First Mortgage | |||||||
4.500% | 06/01/52 | 110 | 96,630 | ||||
Pacific Gas & Electric Co., | |||||||
First Mortgage | |||||||
4.950% | 07/01/50 | 500 | 430,730 | ||||
PacifiCorp, | |||||||
First Mortgage | |||||||
3.350% | 07/01/25 | 160 | 155,958 | ||||
Public Service Co. of Colorado, | |||||||
First Mortgage | |||||||
3.600% | 09/15/42 | 1,985 | 1,528,441 | ||||
Southern Co. (The), | |||||||
Jr. Sub. Notes | |||||||
4.475% | 08/01/24 | 1,230 | 1,223,395 | ||||
Sr. Unsec’d. Notes, Series 21-B | |||||||
1.750% | 03/15/28 | 35 | 30,936 | ||||
Virginia Electric & Power Co., | |||||||
Sr. Unsec’d. Notes, Series A | |||||||
2.875% | 07/15/29 | 45 | 40,843 | ||||
Sr. Unsec’d. Notes, Series B | |||||||
2.950% | 11/15/26 | 950 | 903,144 | ||||
Vistra Operations Co. LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
3.550% | 07/15/24 | 305 | 302,592 | ||||
3.700% | 01/30/27 | 690 | 655,584 | ||||
WEC Energy Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.200% | 12/15/28 | 200 | 176,780 | ||||
17,055,986 | |||||||
Engineering & Construction — 0.1% | |||||||
Mexico City Airport Trust (Mexico), | |||||||
Sr. Sec’d. Notes, 144A | |||||||
4.250% | 10/31/26 | 640 | 618,099 | ||||
Entertainment — 0.5% | |||||||
Caesars Entertainment, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.000% | 02/15/30 | 200 | 205,317 |
A9
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Entertainment (cont’d.) | |||||||
Warnermedia Holdings, Inc., | |||||||
Gtd. Notes | |||||||
3.755% | 03/15/27(a) | 405 | $386,453 | ||||
5.050% | 03/15/42(a) | 1,680 | 1,441,239 | ||||
2,033,009 | |||||||
Environmental Control — 0.0% | |||||||
Waste Connections, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.200% | 01/15/32 | 35 | 28,601 | ||||
Gas — 0.2% | |||||||
Atmos Energy Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.625% | 09/15/29 | 30 | 26,873 | ||||
Piedmont Natural Gas Co., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
5.050% | 05/15/52 | 860 | 785,370 | ||||
812,243 | |||||||
Healthcare-Products — 0.0% | |||||||
Agilent Technologies, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.300% | 03/12/31 | 20 | 16,792 | ||||
Thermo Fisher Scientific, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.600% | 10/01/29 | 5 | 4,486 | ||||
21,278 | |||||||
Healthcare-Services — 1.2% | |||||||
AdventHealth Obligated Group, | |||||||
Unsec’d. Notes, Series E | |||||||
2.795% | 11/15/51 | 1,500 | 1,002,808 | ||||
Elevance Health, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.875% | 09/15/29 | 65 | 58,623 | ||||
3.500% | 08/15/24 | 25 | 24,797 | ||||
HCA, Inc., | |||||||
Gtd. Notes | |||||||
3.125% | 03/15/27 | 160 | 151,308 | ||||
3.375% | 03/15/29 | 10 | 9,175 | ||||
Humana, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
4.500% | 04/01/25 | 155 | 153,358 | ||||
Nationwide Children’s Hospital, Inc., | |||||||
Unsec’d. Notes | |||||||
4.556% | 11/01/52 | 975 | 904,946 | ||||
Presbyterian Healthcare Services, | |||||||
Unsec’d. Notes | |||||||
4.875% | 08/01/52 | 1,125 | 1,078,336 | ||||
Queen’s Health Systems (The), | |||||||
Sec’d. Notes | |||||||
4.810% | 07/01/52 | 680 | 648,679 | ||||
Quest Diagnostics, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.950% | 06/30/30 | 75 | 66,582 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Healthcare-Services (cont’d.) | |||||||
UnitedHealth Group, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.300% | 05/15/31 | 20 | $16,925 | ||||
4.750% | 05/15/52 | 720 | 666,865 | ||||
5.000% | 04/15/34 | 245 | 245,278 | ||||
5.050% | 04/15/53 | 405 | 393,736 | ||||
Universal Health Services, Inc., | |||||||
Sr. Sec’d. Notes | |||||||
2.650% | 01/15/32 | 30 | 24,564 | ||||
5,445,980 | |||||||
Home Builders — 0.2% | |||||||
Toll Brothers Finance Corp., | |||||||
Gtd. Notes | |||||||
4.875% | 03/15/27 | 720 | 712,081 | ||||
Household Products/Wares — 0.0% | |||||||
Kimberly-Clark Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.100% | 03/26/30 | 2 | 1,833 | ||||
Insurance — 0.7% | |||||||
Corebridge Financial, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.650% | 04/05/27 | 90 | 86,032 | ||||
3.850% | 04/05/29 | 550 | 514,510 | ||||
3.900% | 04/05/32 | 1,030 | 926,884 | ||||
Equitable Financial Life Global Funding, | |||||||
Sec’d. Notes, 144A | |||||||
1.800% | 03/08/28 | 125 | 110,157 | ||||
Liberty Mutual Group, Inc., | |||||||
Gtd. Notes, 144A | |||||||
4.569% | 02/01/29 | 907 | 884,350 | ||||
5.500% | 06/15/52 | 500 | 481,212 | ||||
Unum Group, | |||||||
Sr. Unsec’d. Notes | |||||||
4.000% | 06/15/29 | 50 | 47,195 | ||||
3,050,340 | |||||||
Internet — 0.0% | |||||||
Amazon.com, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.000% | 04/13/25 | 20 | 19,578 | ||||
Leisure Time — 0.1% | |||||||
Carnival Holdings Bermuda Ltd., | |||||||
Gtd. Notes, 144A | |||||||
10.375% | 05/01/28 | 250 | 272,779 | ||||
Lodging — 0.1% | |||||||
Sands China Ltd. (Macau), | |||||||
Sr. Unsec’d. Notes | |||||||
5.400% | 08/08/28 | 400 | 392,396 | ||||
Machinery-Construction & Mining — 0.0% | |||||||
Caterpillar, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.900% | 03/12/31 | 25 | 21,140 |
A10
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Machinery-Diversified — 0.1% | |||||||
Chart Industries, Inc., | |||||||
Sr. Sec’d. Notes, 144A | |||||||
7.500% | 01/01/30 | 100 | $103,863 | ||||
Flowserve Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.800% | 01/15/32 | 15 | 12,445 | ||||
Westinghouse Air Brake Technologies Corp., | |||||||
Gtd. Notes | |||||||
4.700% | 09/15/28 | 275 | 270,739 | ||||
387,047 | |||||||
Media — 0.9% | |||||||
Charter Communications Operating LLC/Charter Communications Operating Capital, | |||||||
Sr. Sec’d. Notes | |||||||
2.250% | 01/15/29 | 130 | 110,619 | ||||
2.300% | 02/01/32(a) | 510 | 393,637 | ||||
4.800% | 03/01/50 | 1,155 | 854,516 | ||||
4.908% | 07/23/25 | 110 | 108,697 | ||||
5.050% | 03/30/29 | 1,235 | 1,190,878 | ||||
Comcast Corp., | |||||||
Gtd. Notes | |||||||
2.650% | 02/01/30 | 70 | 62,275 | ||||
Cox Communications, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
2.600% | 06/15/31 | 380 | 315,627 | ||||
3.150% | 08/15/24 | 424 | 419,444 | ||||
3.500% | 08/15/27(a) | 600 | 569,895 | ||||
4,025,588 | |||||||
Mining — 0.4% | |||||||
Newmont Corp., | |||||||
Gtd. Notes | |||||||
2.250% | 10/01/30 | 825 | 703,196 | ||||
2.600% | 07/15/32 | 1,145 | 957,201 | ||||
2.800% | 10/01/29 | 10 | 8,979 | ||||
1,669,376 | |||||||
Miscellaneous Manufacturing — 0.0% | |||||||
Carlisle Cos., Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.200% | 03/01/32 | 45 | 36,131 | ||||
Teledyne Technologies, Inc., | |||||||
Gtd. Notes | |||||||
2.750% | 04/01/31 | 20 | 17,129 | ||||
53,260 | |||||||
Multi-National — 0.1% | |||||||
Corp. Andina de Fomento (Supranational Bank), | |||||||
Sr. Unsec’d. Notes | |||||||
5.000% | 01/24/29 | 480 | 478,651 | ||||
Office/Business Equipment — 0.3% | |||||||
CDW LLC/CDW Finance Corp., | |||||||
Gtd. Notes | |||||||
2.670% | 12/01/26 | 1,265 | 1,177,392 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Oil & Gas — 1.3% | |||||||
Cenovus Energy, Inc. (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
2.650% | 01/15/32(a) | 1,995 | $1,649,179 | ||||
Continental Resources, Inc., | |||||||
Gtd. Notes | |||||||
3.800% | 06/01/24 | 50 | 49,832 | ||||
Diamondback Energy, Inc., | |||||||
Gtd. Notes | |||||||
3.125% | 03/24/31 | 175 | 155,130 | ||||
Ecopetrol SA (Colombia), | |||||||
Sr. Unsec’d. Notes | |||||||
8.625% | 01/19/29 | 790 | 833,967 | ||||
Korea National Oil Corp. (South Korea), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.750% | 04/03/26(a) | 220 | 217,917 | ||||
4.875% | 04/03/28 | 210 | 209,061 | ||||
Petroleos Mexicanos (Mexico), | |||||||
Gtd. Notes | |||||||
5.350% | 02/12/28 | 800 | 705,608 | ||||
Pioneer Natural Resources Co., | |||||||
Sr. Unsec’d. Notes | |||||||
1.900% | 08/15/30 | 810 | 681,142 | ||||
Valero Energy Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.800% | 12/01/31 | 15 | 12,814 | ||||
Var Energi ASA (Norway), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
5.000% | 05/18/27 | 1,460 | 1,426,529 | ||||
5,941,179 | |||||||
Packaging & Containers — 0.4% | |||||||
AptarGroup, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.600% | 03/15/32 | 1,300 | 1,146,186 | ||||
Ball Corp., | |||||||
Gtd. Notes | |||||||
6.000% | 06/15/29 | 350 | 353,246 | ||||
Graphic Packaging International LLC, | |||||||
Sr. Sec’d. Notes, 144A | |||||||
1.512% | 04/15/26 | 150 | 139,040 | ||||
1,638,472 | |||||||
Pharmaceuticals — 0.4% | |||||||
Becton, Dickinson & Co., | |||||||
Sr. Unsec’d. Notes | |||||||
3.734% | 12/15/24 | 13 | 12,832 | ||||
Bristol-Myers Squibb Co., | |||||||
Sr. Unsec’d. Notes | |||||||
3.400% | 07/26/29 | 4 | 3,758 | ||||
Cencora, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
2.700% | 03/15/31 | 20 | 17,174 | ||||
3.450% | 12/15/27 | 30 | 28,520 | ||||
Cigna Group (The), | |||||||
Gtd. Notes | |||||||
3.400% | 03/01/27 | 60 | 57,493 |
A11
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Pharmaceuticals (cont’d.) | |||||||
Sr. Unsec’d. Notes | |||||||
2.400% | 03/15/30 | 292 | $252,194 | ||||
CVS Health Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
5.000% | 01/30/29 | 90 | 90,125 | ||||
Shire Acquisitions Investments Ireland DAC, | |||||||
Gtd. Notes | |||||||
3.200% | 09/23/26 | 385 | 367,826 | ||||
Viatris, Inc., | |||||||
Gtd. Notes | |||||||
2.700% | 06/22/30 | 630 | 534,433 | ||||
3.850% | 06/22/40 | 55 | 40,610 | ||||
4.000% | 06/22/50 | 715 | 491,893 | ||||
1,896,858 | |||||||
Pipelines — 2.0% | |||||||
Energy Transfer LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.900% | 05/15/25 | 170 | 165,006 | ||||
3.750% | 05/15/30 | 965 | 890,231 | ||||
4.950% | 05/15/28 | 305 | 302,492 | ||||
4.950% | 06/15/28 | 500 | 495,648 | ||||
5.150% | 03/15/45 | 1,080 | 983,248 | ||||
Enterprise Products Operating LLC, | |||||||
Gtd. Notes | |||||||
3.125% | 07/31/29 | 40 | 36,881 | ||||
MPLX LP, | |||||||
Sr. Unsec’d. Notes | |||||||
4.875% | 12/01/24 | 25 | 24,856 | ||||
4.950% | 03/14/52 | 1,125 | 988,350 | ||||
ONEOK Partners LP, | |||||||
Gtd. Notes | |||||||
4.900% | 03/15/25 | 30 | 29,785 | ||||
ONEOK, Inc., | |||||||
Gtd. Notes | |||||||
3.100% | 03/15/30 | 645 | 577,357 | ||||
4.450% | 09/01/49 | 595 | 482,109 | ||||
5.850% | 01/15/26 | 200 | 201,837 | ||||
Plains All American Pipeline LP/PAA Finance Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.550% | 12/15/29 | 2,150 | 1,972,571 | ||||
Targa Resources Corp., | |||||||
Gtd. Notes | |||||||
4.200% | 02/01/33 | 1,345 | 1,227,653 | ||||
6.250% | 07/01/52 | 305 | 315,475 | ||||
Williams Cos., Inc. (The), | |||||||
Sr. Unsec’d. Notes | |||||||
2.600% | 03/15/31 | 280 | 238,443 | ||||
4.000% | 09/15/25 | 65 | 63,766 | ||||
8,995,708 | |||||||
Real Estate — 0.1% | |||||||
Ontario Teachers’ Cadillac Fairview Properties Trust (Canada), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
4.125% | 02/01/29 | 600 | 560,476 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Real Estate Investment Trusts (REITs) — 1.4% | |||||||
Brixmor Operating Partnership LP, | |||||||
Sr. Unsec’d. Notes | |||||||
2.250% | 04/01/28 | 15 | $13,329 | ||||
2.500% | 08/16/31 | 5 | 4,103 | ||||
4.050% | 07/01/30 | 1,980 | 1,839,571 | ||||
COPT Defense Properties LP, | |||||||
Gtd. Notes | |||||||
2.750% | 04/15/31 | 5 | 4,120 | ||||
CubeSmart LP, | |||||||
Gtd. Notes | |||||||
2.250% | 12/15/28 | 105 | 92,197 | ||||
Digital Realty Trust LP, | |||||||
Gtd. Notes | |||||||
3.600% | 07/01/29 | 40 | 36,862 | ||||
Essex Portfolio LP, | |||||||
Gtd. Notes | |||||||
1.700% | 03/01/28 | 40 | 35,090 | ||||
GLP Capital LP/GLP Financing II, Inc., | |||||||
Gtd. Notes | |||||||
5.375% | 04/15/26 | 2,400 | 2,380,234 | ||||
Kimco Realty OP LLC, | |||||||
Gtd. Notes | |||||||
2.250% | 12/01/31 | 50 | 40,393 | ||||
Phillips Edison Grocery Center Operating Partnership I LP, | |||||||
Gtd. Notes | |||||||
2.625% | 11/15/31 | 395 | 320,391 | ||||
Realty Income Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.400% | 01/15/28 | 15 | 14,158 | ||||
Sun Communities Operating LP, | |||||||
Gtd. Notes | |||||||
2.300% | 11/01/28 | 1,855 | 1,621,164 | ||||
2.700% | 07/15/31 | 20 | 16,488 | ||||
6,418,100 | |||||||
Retail — 0.1% | |||||||
AutoNation, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.850% | 03/01/32(a) | 300 | 266,780 | ||||
McDonald’s Corp., | |||||||
Sr. Unsec’d. Notes, MTN | |||||||
3.500% | 07/01/27 | 15 | 14,385 | ||||
281,165 | |||||||
Semiconductors — 0.5% | |||||||
Broadcom, Inc., | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
3.137% | 11/15/35 | 470 | 379,924 | ||||
3.419% | 04/15/33 | 2,275 | 1,969,479 | ||||
Intel Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
3.750% | 03/25/27 | 30 | 29,129 | ||||
2,378,532 |
A12
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Corporate Bonds (continued) | |||||||
Software — 0.2% | |||||||
Oracle Corp., | |||||||
Sr. Unsec’d. Notes | |||||||
2.950% | 05/15/25 | 50 | $48,692 | ||||
4.300% | 07/08/34 | 959 | 884,645 | ||||
Take-Two Interactive Software, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.550% | 04/14/25 | 20 | 19,625 | ||||
952,962 | |||||||
Telecommunications — 1.6% | |||||||
AT&T, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
3.500% | 06/01/41 | 1,725 | 1,345,469 | ||||
3.550% | 09/15/55 | 1,360 | 950,239 | ||||
4.300% | 02/15/30 | 415 | 398,454 | ||||
T-Mobile USA, Inc., | |||||||
Gtd. Notes | |||||||
3.875% | 04/15/30 | 3,140 | 2,943,380 | ||||
Verizon Communications, Inc., | |||||||
Sr. Unsec’d. Notes | |||||||
1.680% | 10/30/30 | 255 | 207,878 | ||||
2.100% | 03/22/28 | 500 | 450,325 | ||||
2.355% | 03/15/32 | 318 | 261,309 | ||||
2.550% | 03/21/31 | 390 | 333,196 | ||||
3.000% | 03/22/27 | 10 | 9,479 | ||||
3.150% | 03/22/30 | 200 | 180,971 | ||||
7,080,700 | |||||||
Transportation — 0.0% | |||||||
Burlington Northern Santa Fe LLC, | |||||||
Sr. Unsec’d. Notes | |||||||
5.050% | 03/01/41 | 215 | 209,825 | ||||
Total Corporate Bonds (cost $131,329,084) | 126,262,344 | ||||||
Residential Mortgage-Backed Securities — 1.9% | |||||||
Chase Home Lending Mortgage Trust, | |||||||
Series 2023-RPL01, Class A1, 144A | |||||||
3.500%(cc) | 06/25/62 | 701 | 629,028 | ||||
Citigroup Mortgage Loan Trust, | |||||||
Series 2022-A, Class A1, 144A | |||||||
6.170% | 09/25/62 | 265 | 265,100 | ||||
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 | 516 | 517,820 | ||||
Credit Suisse Mortgage Trust, | |||||||
Series 2022-RPL04, Class A1, 144A | |||||||
3.904%(cc) | 04/25/62 | 428 | 397,843 | ||||
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 | 5,021 | 413,451 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Residential Mortgage-Backed Securities (continued) | |||||||
FHLMC Structured Agency Credit Risk REMIC Trust, | |||||||
Series 2022-DNA03, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 0.000%) | |||||||
8.220%(c) | 04/25/42 | 2,181 | $2,254,729 | ||||
Series 2022-DNA06, Class M1A, 144A, 30 Day Average SOFR + 2.150% (Cap N/A, Floor 0.000%) | |||||||
7.470%(c) | 09/25/42 | 703 | 711,553 | ||||
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 | 202 | 3,059 | ||||
Freddie Mac Strips, | |||||||
Series 406, Class PO, PO | |||||||
1.217%(s) | 10/25/53 | 1,095 | 876,330 | ||||
Government National Mortgage Assoc., | |||||||
Series 2019-70, Class SJ, IO, 1 Month SOFR x (1) + 5.986% (Cap 6.100%, Floor 0.000%) | |||||||
0.659%(c) | 06/16/38 | 14,277 | 999,600 | ||||
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 | 541 | 9,418 | ||||
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 | 721 | 14,278 | ||||
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 | 674 | 16,156 | ||||
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 | 1,391 | 29,071 | ||||
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 | 517 | 9,247 | ||||
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 | 1,075 | 18,843 | ||||
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 | 1,097 | 17,464 | ||||
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 | 997 | 1,008,281 | ||||
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 | 140 | 152,227 | |||
Towd Point Mortgage Trust, | |||||||
Series 2021-SJ02, Class A1B, 144A | |||||||
2.250%(cc) | 12/25/61 | 300 | 257,317 | ||||
Total Residential Mortgage-Backed Securities (cost $7,996,697) | 8,600,815 |
A13
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
Sovereign Bonds — 2.0% | |||||||
Japan Bank for International Cooperation (Japan), | |||||||
Gov’t. Gtd. Notes | |||||||
0.625% | 07/15/25 | 400 | $377,559 | ||||
Gov’t. Gtd. Notes, Series DTC | |||||||
1.750% | 10/17/24 | 2,200 | 2,149,664 | ||||
Japan Finance Organization for Municipalities (Japan), | |||||||
Sr. Unsec’d. Notes, EMTN | |||||||
1.750% | 09/05/24 | 2,600 | 2,557,862 | ||||
Panama Government International Bond (Panama), | |||||||
Sr. Unsec’d. Notes | |||||||
3.750% | 03/16/25 | 680 | 661,300 | ||||
Province of Alberta (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
1.300% | 07/22/30 | 685 | 556,739 | ||||
3.300% | 03/15/28 | 1,195 | 1,135,974 | ||||
Province of Quebec (Canada), | |||||||
Sr. Unsec’d. Notes | |||||||
1.350% | 05/28/30 | 200 | 166,034 | ||||
Republic of Italy Government International Bond (Italy), | |||||||
Sr. Unsec’d. Notes | |||||||
2.375% | 10/17/24 | 400 | 393,559 | ||||
Romanian Government International Bond (Romania), | |||||||
Sr. Unsec’d. Notes, 144A, MTN | |||||||
5.000% | 09/27/26 | EUR | 400 | 441,785 | |||
Saudi Government International Bond (Saudi Arabia), | |||||||
Sr. Unsec’d. Notes, 144A | |||||||
0.750% | 07/09/27 | EUR | 269 | 266,722 | |||
Tokyo Metropolitan Government (Japan), | |||||||
Sr. Unsec’d. Notes | |||||||
2.625% | 05/29/24 | 200 | 198,660 | ||||
Total Sovereign Bonds (cost $9,115,469) | 8,905,858 | ||||||
U.S. Government Agency Obligations — 29.4% | |||||||
Federal Home Loan Bank | |||||||
4.250% | 09/10/32 | 850 | 831,391 | ||||
Federal Home Loan Mortgage Corp. | |||||||
2.000% | 02/01/36 | 817 | 729,728 | ||||
2.000% | 05/01/42 | 424 | 355,342 | ||||
2.000% | 04/01/51 | 83 | 66,006 | ||||
2.000% | 06/01/51 | 3,938 | 3,126,261 | ||||
2.000% | 07/01/51 | 520 | 413,302 | ||||
2.000% | 09/01/51 | 2,231 | 1,796,054 | ||||
2.500% | 07/01/51 | 1,883 | 1,563,120 | ||||
2.500% | 08/01/51 | 1,791 | 1,486,943 | ||||
3.000% | 09/01/46 | 1,083 | 954,777 | ||||
3.000% | 12/01/46 | 524 | 461,285 | ||||
3.000% | 09/01/50 | 4,842 | 4,203,151 | ||||
3.000% | 02/01/52 | 922 | 802,954 | ||||
3.500% | 06/01/37 | 371 | 352,486 | ||||
3.500% | 03/01/48 | 587 | 536,068 | ||||
3.500% | 06/01/52 | 4,854 | 4,346,207 | ||||
4.000% | 11/01/37 | 1,012 | 980,190 | ||||
4.000% | 05/01/52 | 1,299 | 1,204,855 | ||||
4.500% | 07/01/52 | 1,644 | 1,565,043 | ||||
4.500% | 08/01/52 | 1,389 | 1,322,460 | ||||
5.000% | 02/01/38 | 702 | 701,617 |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
5.000% | 09/01/38 | 360 | $359,604 | ||||
5.000% | 10/01/38 | 114 | 114,189 | ||||
5.000% | 01/01/39 | 308 | 307,892 | ||||
5.000% | 06/01/52 | 1,764 | 1,722,315 | ||||
5.000% | 11/01/52 | 465 | 454,238 | ||||
5.500% | 01/01/53 | 3,854 | 3,837,513 | ||||
6.000% | 12/01/52 | 894 | 903,312 | ||||
6.750% | 09/15/29 | 90 | 100,644 | ||||
6.750% | 03/15/31 | 1,230 | 1,408,557 | ||||
Federal National Mortgage Assoc. | |||||||
0.875% | 08/05/30 | 175 | 141,868 | ||||
1.500% | 01/01/36 | 1,757 | 1,529,824 | ||||
1.500% | 11/01/50 | 454 | 342,553 | ||||
1.500% | 02/01/51 | 5,374 | 4,058,991 | ||||
2.000% | 03/01/31 | 398 | 368,856 | ||||
2.000% | 01/01/32 | 821 | 756,225 | ||||
2.000% | 02/01/37 | 1,345 | 1,193,127 | ||||
2.000% | 05/01/37 | 532 | 471,321 | ||||
2.000% | 05/01/42 | 1,664 | 1,395,015 | ||||
2.000% | 10/01/50 | 1,205 | 959,773 | ||||
2.000% | 12/01/50 | 120 | 95,780 | ||||
2.000% | 01/01/51 | 1,528 | 1,216,508 | ||||
2.000% | 02/01/51 | 43 | 33,874 | ||||
2.000% | 04/01/51 | 548 | 436,074 | ||||
2.000% | 04/01/51 | 3,372 | 2,678,164 | ||||
2.000% | 05/01/51 | 10,980 | 8,737,604 | ||||
2.000% | 07/01/51 | 4,312 | 3,436,950 | ||||
2.000% | 08/01/51 | 2,626 | 2,085,709 | ||||
2.500% | TBA(tt) | 2,000 | 1,652,921 | ||||
2.500% | 07/01/32 | 415 | 386,049 | ||||
2.500% | 08/01/32 | 453 | 421,537 | ||||
2.500% | 09/01/32 | 444 | 412,069 | ||||
2.500% | 01/01/35 | 420 | 385,793 | ||||
2.500% | 07/01/35 | 1,613 | 1,499,400 | ||||
2.500% | 12/01/36 | 446 | 408,995 | ||||
2.500% | 04/01/51 | 479 | 398,408 | ||||
2.500% | 06/01/51 | 2,695 | 2,238,682 | ||||
2.500% | 08/01/51 | 440 | 365,560 | ||||
2.500% | 08/01/51 | 3,893 | 3,230,613 | ||||
2.500% | 02/01/52 | 2,207 | 1,848,694 | ||||
2.500% | 04/01/52 | 1,123 | 940,875 | ||||
3.000% | TBA | 1,500 | 1,291,723 | ||||
3.000% | 05/01/35 | 1,360 | 1,269,157 | ||||
3.000% | 06/01/36 | 1,078 | 1,012,366 | ||||
3.000% | 07/01/36 | 835 | 778,709 | ||||
3.000% | 02/01/52 | 1,763 | 1,519,266 | ||||
3.000% | 04/01/52 | 2,240 | 1,955,862 | ||||
3.500% | 02/01/52 | 913 | 820,791 | ||||
3.500% | 03/01/52 | 880 | 798,395 | ||||
3.500% | 06/01/52 | 855 | 765,450 | ||||
3.500% | 06/01/52 | 1,907 | 1,708,102 | ||||
4.000% | TBA(tt) | 2,000 | 1,852,003 | ||||
4.000% | 01/01/50 | 462 | 433,429 | ||||
4.000% | 05/01/50 | 481 | 449,400 | ||||
4.000% | 08/01/52 | 1,280 | 1,186,971 | ||||
4.336%(s) | 03/17/31 | 710 | 516,239 | ||||
4.500% | 07/01/52 | 211 | 201,370 |
A14
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Interest Rate | Maturity Date | Principal Amount (000)# | Value | ||||
U.S. Government Agency Obligations(continued) | |||||||
5.000% | TBA(tt) | 2,000 | $1,996,928 | ||||
5.000% | 06/01/52 | 848 | 828,109 | ||||
5.000% | 10/01/52 | 470 | 458,700 | ||||
6.000% | 01/01/53 | 2,427 | 2,451,447 | ||||
6.625% | 11/15/30 | 290 | 327,809 | ||||
Government National Mortgage Assoc. | |||||||
2.000% | TBA(tt) | 1,500 | 1,228,669 | ||||
2.000% | 01/20/51 | 1,500 | 1,229,811 | ||||
2.000% | 10/20/51 | 467 | 382,601 | ||||
2.000% | 11/20/51 | 496 | 406,306 | ||||
2.500% | 07/20/51 | 1,206 | 1,028,211 | ||||
2.500% | 08/20/51(k) | 6,735 | 5,740,198 | ||||
3.000% | 03/20/47 | 1,232 | 1,101,553 | ||||
3.000% | 01/20/50 | 554 | 492,503 | ||||
3.000% | 06/20/51 | 1,555 | 1,371,036 | ||||
3.000% | 10/20/51 | 2,153 | 1,898,566 | ||||
3.000% | 11/20/51 | 852 | 751,121 | ||||
3.500% | 06/20/42 | 423 | 392,752 | ||||
3.500% | 03/20/43 | 251 | 233,703 | ||||
3.500% | 06/20/46 | 2,756 | 2,546,508 | ||||
3.500% | 02/20/52 | 2,643 | 2,404,286 | ||||
4.000% | 09/20/47 | 1,816 | 1,722,346 | ||||
4.000% | 02/20/48 | 140 | 132,503 | ||||
4.000% | 04/20/48 | 435 | 412,207 | ||||
4.000% | 06/20/52 | 480 | 449,012 | ||||
4.500% | 08/20/48 | 1,306 | 1,271,079 | ||||
4.500% | 05/20/52 | 931 | 896,112 | ||||
6.500% | TBA | 1,000 | 1,015,696 | ||||
Tennessee Valley Authority, Sr. Unsec’d. Notes | |||||||
1.500% | 09/15/31 | 200 | 162,286 | ||||
Total U.S. Government Agency Obligations (cost $137,054,408) | 131,026,607 | ||||||
U.S. Treasury Obligations — 1.9% | |||||||
U.S. Treasury Bonds | |||||||
2.250% | 05/15/41(k) | 3,680 | 2,719,750 | ||||
U.S. Treasury Strips Coupon | |||||||
3.072%(s) | 08/15/37 | 1,465 | 815,192 | ||||
3.229%(s) | 05/15/41 | 4,540 | 2,061,799 | ||||
3.255%(s) | 08/15/42 | 1,980 | 844,052 | ||||
3.273%(s) | 05/15/43 | 5,150 | 2,118,541 | ||||
4.920%(s) | 08/15/48 | 305 | 100,090 | ||||
Total U.S. Treasury Obligations (cost $10,585,377) | 8,659,424 | ||||||
Total Long-Term Investments (cost $464,601,212) | 450,653,987 |
Shares | |||||
Short-Term Investments — 3.6% | |||||
Affiliated Mutual Funds | |||||
PGIM Core Government Money Market Fund (7-day effective yield 5.552%)(wb) | 5,197,284 | 5,197,284 |
Shares | Value | |||||
Affiliated Mutual Funds (continued) | ||||||
PGIM Institutional Money Market Fund (7-day effective yield 5.664%) (cost $10,915,573; includes $10,890,362 of cash collateral for securities on loan)(b)(wb) | 10,921,605 | $10,916,145 | ||||
Total Short-Term Investments (cost $16,112,857) | 16,113,429 | |||||
TOTAL INVESTMENTS—104.7% (cost $480,714,069) | 466,767,416 | |||||
Liabilities in excess of other assets(z) — (4.7)% | (21,058,663) | |||||
Net Assets — 100.0% | $445,708,753 |
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. |
BNYM | Bank of New York Mellon |
CDX | Credit Derivative Index |
CLO | Collateralized Loan Obligation |
CME | Chicago Mercantile Exchange |
DAC | Designated Activity Company |
EMTN | Euro Medium Term Note |
EURIBOR | Euro Interbank Offered Rate |
FHLMC | Federal Home Loan Mortgage Corporation |
GMTN | Global Medium Term Note |
IO | Interest Only (Principal amount represents notional) |
LP | Limited Partnership |
MTN | Medium Term Note |
OTC | Over-the-counter |
PO | Principal Only |
Q | Quarterly payment frequency for swaps |
REITs | Real Estate Investment Trust |
REMIC | Real Estate Mortgage Investment Conduit |
SOFR | Secured Overnight Financing Rate |
SSB | State Street Bank & Trust Company |
STRIPs | Separate Trading of Registered Interest and Principal of Securities |
TBA | To Be Announced |
# | 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 $10,672,088; cash collateral of $10,890,362 (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. |
A15
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
(c) | Variable rate instrument. The interest rate shown reflects the rate in effect at March 31, 2024. |
(cc) | Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2024. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
(ff) | Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end. |
(k) | Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives. |
(oo) | Perpetual security. Maturity date represents next call 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 $7,500,000 is 1.7% of net assets. |
(wb) | Represents an investment in a Fund affiliated with the Manager. |
(z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
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 | $(8,500) | $(6,723,396) | ||||||
Federal National Mortgage Assoc. | 3.500% | TBA | 04/11/24 | (2,000) | (1,789,755) | ||||||
Federal National Mortgage Assoc. | 6.000% | TBA | 05/13/24 | (2,000) | (2,017,817) | ||||||
Government National Mortgage Assoc. | 3.000% | TBA | 04/18/24 | (3,000) | (2,645,321) | ||||||
TOTAL FORWARD COMMITMENT CONTRACTS (proceeds receivable $13,174,668) | $(13,176,289) |
Futures contracts outstanding at March 31, 2024: | ||||||||
Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
Long Positions: | ||||||||
10 | 3 Month CME SOFR | Jun. 2024 | $2,366,813 | $532 | ||||
10 | 3 Month CME SOFR | Sep. 2024 | 2,371,625 | 752 | ||||
40 | 2 Year U.S. Treasury Notes | Jun. 2024 | 8,179,375 | (7,535) | ||||
146 | 5 Year U.S. Treasury Notes | Jun. 2024 | 15,624,282 | 10,276 | ||||
151 | 10 Year U.S. Treasury Notes | Jun. 2024 | 16,730,329 | 9,634 | ||||
5 | 10 Year U.S. Ultra Treasury Notes | Jun. 2024 | 573,047 | 4,018 | ||||
136 | 20 Year U.S. Treasury Bonds | Jun. 2024 | 16,379,500 | 253,155 | ||||
196 | 30 Year U.S. Ultra Treasury Bonds | Jun. 2024 | 25,284,000 | 453,507 | ||||
$724,339 |
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 | 1,027 | $1,111,019 | $1,108,103 | $— | $(2,916) |
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 | 1,027 | $1,113,879 | $1,108,103 | $5,776 | $— |
A16
AST TARGET MATURITY CENTRAL PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS | as of March 31, 2024 (unaudited) |
Forward foreign currency exchange contracts outstanding at March 31, 2024 (continued):
Sale Contracts | Counterparty | Notional Amount (000) | Value at Settlement Date | Current Value | Unrealized Appreciation | Unrealized Depreciation | |||||||
OTC Forward Foreign Currency Exchange Contracts (cont’d.): | |||||||||||||
Euro (cont’d.), | |||||||||||||
Expiring 05/02/24 | SSB | EUR | 1,027 | $1,112,358 | $1,109,399 | $2,959 | $— | ||||||
$2,226,237 | $2,217,502 | 8,735 | — | ||||||||||
$8,735 | $(2,916) |
Credit default swap agreement 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) | 1,589 | 3.116% | $88,090 | $119,627 | $31,537 | ||||||||
CDX.NA.HY.42.V1 | 06/20/29 | 5.000%(Q) | 7,170 | 3.289% | 500,150 | 528,777 | 28,627 | ||||||||
$588,240 | $648,404 | $60,164 |
The Portfolio entered into credit default swaps (“CDS”) to provide a measure of protection against defaults or to take an active long or short position with respect to the likelihood of a particular issuer’s default or the reference entity’s credit soundness. CDS contracts generally trade based on a spread which represents the cost a protection buyer has to pay the protection seller. The protection buyer is said to be short the credit as the value of the contract rises the more the credit deteriorates. The value of the CDS contract increases for the protection buyer if the spread increases.
(1) | If the Portfolio is a buyer of protection, it pays the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and make delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | If the Portfolio is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(3) | Notional amount represents the maximum potential amount the Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement. |
(4) | Implied credit spreads, represented in absolute terms, utilized in determining the fair value of credit default swap agreements where the Portfolio is the seller of protection as of the reporting date serve as an indicator of the current status of the payment/ performance risk and represent the likelihood of risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include up-front payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. |
Other information regarding the Portfolio is available in the Portfolio’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
A17