NPORT-P
    false
    
      
      
        
          0000814679
          XXXXXXXX
        
      
      
      
      
        S000030880
        C000095824
      
      
    
  
  
    
      Advanced Series Trust
      811-05186
      0000814679
      549300VWSUPW8FKG9V43
      655 Broad Street
      17th Floor
      Newark
      
      07102-4077
      1-888-778-2888
      AST Bond Portfolio 2022
      S000030880
      25V5FFI8VC77SZ5QTF33
      2022-12-31
      2022-03-31
      N
    
    
      91174689.40
      539398.34
      90635291.06
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      619477.80000000
      
        
          USD
          
          
        
      
      
      
      
        
        
        
        
      
      N
      
        
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        NATIONAL SECS CLEARING
        549300RYC9NELN2ICA34
        National Securities Clearing Corp
        637639AA3
        
          
          
        
        250000.00000000
        PA
        USD
        247566.21000000
        0.273145490133
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2023-04-23
          Fixed
          1.20000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
        549300EX04Q2QBFQTQ27
        CBOT US Long Bond
        000000000
        
          
          
        
        -29.00000000
        NC
        USD
        131883.08000000
        0.145509633673
        N/A
        DIR
        CORP
        US
        N
        
        1
        
          
            
              BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US TREASURY N/B
                United States Treasury Note/Bond
                
                  
                  
                  
                
              
            
            2022-06-21
            -4483695.58000000
            USD
            131883.08000000
          
        
        
          N
          N
          N
        
      
      
        CANADIAN IMPERIAL BANK
        2IGI19DL77OX0HC3ZE78
        Canadian Imperial Bank of Commerce
        13607HVC3
        
          
          
        
        225000.00000000
        PA
        USD
        219654.25000000
        0.242349583071
        Long
        DBT
        CORP
        CA
        N
        
        2
        
          2023-06-22
          Fixed
          0.45000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SWEDBANK AB
        N/A
        SWEDBANK AB
        000000000
        
          
        
        700000.00000000
        PA
        USD
        692211.04000000
        0.763732351829
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-12-01
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CBT7
        
          
          
        
        5000.00000000
        PA
        USD
        4662.50000000
        0.005144243423
        Long
        DBT
        UST
        US
        N
        
        2
        
          2026-03-31
          Fixed
          0.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PGIM Institutional Money Market Fund - D
        N/A
        PGIM Institutional Money Market Fund - D
        000000000
        
          
        
        490163.41200000
        NS
        USD
        489722.26000000
        0.540321826379
        Long
        STIV
        RF
        US
        N
        
        1
        
          
          N
          N
        
      
      
        Benefit Street Partners CLO Lt
        549300Y1V90IQ456QX97
        Benefit Street Partners CLO III Ltd
        08180EBJ2
        
          
        
        406575.21000000
        PA
        USD
        405010.95000000
        0.446857890853
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2029-07-20
          Floating
          1.25400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GS Mortgage Securities Trust
        54930066YOFVQE068N73
        GS Mortgage Securities Trust 2015-GC32
        36250PAC9
        
          
        
        1200000.00000000
        PA
        USD
        1201971.60000000
        1.326162895206
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2048-07-10
          Fixed
          3.49800000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Oaktree CLO Ltd
        635400SBDDFQR1OHEJ54
        Oaktree CLO 2015-1 Ltd
        67389XAF4
        
          
        
        104188.78000000
        PA
        USD
        104026.93000000
        0.114775303067
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2027-10-20
          Floating
          1.12400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CARGILL INC
        QXZYQNMR4JZ5RIRN4T31
        Cargill Inc
        141781BL7
        
          
          
        
        230000.00000000
        PA
        USD
        227027.54000000
        0.250484703413
        Long
        DBT
        CORP
        US
        Y
        
        2
        
          2023-07-23
          Fixed
          1.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AETNA INC
        549300QKBENKLBXQ8968
        Aetna Inc
        008117AP8
        
          
          
        
        575000.00000000
        PA
        USD
        577689.50000000
        0.637378104316
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-11-15
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TICP CLO Ltd
        N/A
        TICP CLO III-2 Ltd
        87249FAC8
        
          
        
        238335.80000000
        PA
        USD
        237062.68000000
        0.261556704047
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2028-04-20
          Floating
          1.09400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SALESFORCE.COM INC
        RCGZFPDMRW58VJ54VR07
        salesforce.com Inc
        79466LAG9
        
          
          
        
        300000.00000000
        PA
        USD
        287519.95000000
        0.317227369865
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-07-15
          Fixed
          0.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WESTPAC BANKING CORPORATION
        N/A
        WESTPAC BANKING CORP
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        994119.03000000
        1.096834376955
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-09-08
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NEXTERA ENERGY CAPITAL
        UMI46YPGBLUE4VGNNT48
        NextEra Energy Capital Holdings Inc
        65339KBU3
        
          
          
        
        165000.00000000
        PA
        USD
        162693.37000000
        0.179503334845
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-03-01
          Fixed
          0.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LYB INTL FINANCE BV
        549300J6QSW38QNOJK61
        LYB International Finance BV
        50247VAA7
        
          
          
        
        282000.00000000
        PA
        USD
        286514.26000000
        0.316117768971
        Long
        DBT
        CORP
        NL
        
        N
        
        2
        
          2023-07-15
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OGE ENERGY CORP
        CE5OG6JPOZMDSA0LAQ19
        OGE Energy Corp
        670837AC7
        
          
          
        
        570000.00000000
        PA
        USD
        558040.78000000
        0.615699219888
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-05-26
          Fixed
          0.70300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STRIPS
        254900HROIFWPRGM1V77
        United States Treasury Strip Coupon
        912834LR7
        
          
          
        
        10000.00000000
        PA
        USD
        5695.70000000
        0.006284196733
        Long
        DBT
        UST
        US
        N
        
        2
        
          2042-08-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        COOPERATIEVE RABOBANK UA NY
        N/A
        COOPERATIEVE RABOBANK UA NY
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        994717.77000000
        1.097494980560
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-12-01
          Fixed
          0.93000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FORD MOTOR CREDIT CO LLC
        UDSQCVRUX5BONN0VY111
        Ford Motor Credit Co LLC
        345397ZU0
        
          
          
        
        200000.00000000
        PA
        USD
        200542.21000000
        0.221262830024
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-11-01
          Fixed
          3.35000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Trinitas CLO Ltd
        54930015QLUMDPHS1H02
        Trinitas CLO V Ltd
        89641AAV7
        
          
        
        549967.25000000
        PA
        USD
        548738.40000000
        0.605435690206
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2028-10-25
          Floating
          1.28771000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OCP CLO Ltd
        254900MN6N176YEZLX15
        OCP CLO 2020-18 Ltd
        671078AN3
        
          
        
        250000.00000000
        PA
        USD
        247508.48000000
        0.273081795297
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2032-07-20
          Floating
          1.34400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LLOYDS BANKING GROUP PLC
        549300PPXHEU2JF0AM85
        Lloyds Banking Group PLC
        53944YAL7
        
          
          
        
        200000.00000000
        PA
        USD
        201863.06000000
        0.222720154190
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2025-07-09
          Fixed
          3.87000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BARCLAYS PLC
        213800LBQA1Y9L22JB70
        Barclays PLC
        06738EBH7
        
          
          
        
        310000.00000000
        PA
        USD
        312427.82000000
        0.344708795377
        Long
        DBT
        CORP
        GB
        N
        
        2
        
          2025-05-07
          Fixed
          3.93200000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JAPAN FIN ORG MUNICIPAL
        5493007YYYNZ4NMEOD64
        Japan Finance Organization for Municipalities
        471068AJ5
        
          
          
        
        200000.00000000
        PA
        USD
        199085.46000000
        0.219655564263
        Long
        DBT
        NUSS
        JP
        N
        
        2
        
          2023-10-25
          Fixed
          2.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Citigroup Commercial Mortgage
        N/A
        Citigroup Commercial Mortgage Trust 2015-P1
        17324DAT1
        
          
        
        900000.00000000
        PA
        USD
        895144.32000000
        0.987633304346
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2048-09-15
          Fixed
          3.46200000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Benefit Street Partners CLO Lt
        549300CIOPBDYOSN3T91
        Benefit Street Partners Clo XII Ltd
        08179HAE0
        
          
        
        1000000.00000000
        PA
        USD
        990866.60000000
        1.093245896175
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2030-10-15
          Floating
          1.19129000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912828N30
        
          
          
        
        32700000.00000000
        PA
        USD
        32863500.00000000
        36.25905496154
        Long
        DBT
        UST
        US
        N
        
        2
        
          2022-12-31
          Fixed
          2.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ONTARIO (PROVINCE OF)
        C7PVKCRGLG18EBQGZV36
        Province of Ontario Canada
        68323ABK9
        
          
          
        
        475000.00000000
        PA
        USD
        476513.50000000
        0.525748297850
        Long
        DBT
        NUSS
        CA
        N
        
        2
        
          2022-06-29
          Fixed
          2.45000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRITISH COLUMBIA PROV OF
        54930058TO7MEKUHWL16
        Province of British Columbia Canada
        11070TAB4
        
          
          
        
        25000.00000000
        PA
        USD
        25090.44000000
        0.027682859189
        Long
        DBT
        NUSS
        CA
        N
        
        2
        
          2022-10-23
          Fixed
          2.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ABBVIE INC
        FR5LCKFTG8054YNNRU85
        AbbVie Inc
        00287YAQ2
        
          
          
        
        260000.00000000
        PA
        USD
        263889.52000000
        0.291155373269
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-05-14
          Fixed
          3.60000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ABU DHABI GOVT INT'L
        213800FER4348CINTA77
        Abu Dhabi Government International Bond
        29135LAA8
        
          
          
        
        315000.00000000
        PA
        USD
        322759.54000000
        0.356108019542
        Long
        DBT
        NUSS
        AE
        N
        
        2
        
          2027-10-11
          Fixed
          3.12500000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        Elmwood CLO II Ltd.
        N/A
        Elmwood CLO II Ltd
        29001LAL5
        
          
        
        250000.00000000
        PA
        USD
        247373.38000000
        0.272932736362
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2034-04-20
          Floating
          1.40400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SHIRE ACQ INV IRELAND DA
        549300XK5HGW68R8K327
        Shire Acquisitions Investments Ireland DAC
        82481LAC3
        
          
          
        
        185000.00000000
        PA
        USD
        185704.69000000
        0.204892253147
        Long
        DBT
        CORP
        IE
        
        N
        
        2
        
          2023-09-23
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Morgan Stanley Capital I Trust
        N/A
        Morgan Stanley Capital I Trust 2015-MS1
        61765DAR9
        
          
        
        45716.78000000
        PA
        USD
        45787.92000000
        0.050518864632
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2048-05-15
          Fixed
          3.26100000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AVANGRID INC
        549300OX0Q38NLSKPB49
        Avangrid Inc
        05351WAC7
        
          
          
        
        75000.00000000
        PA
        USD
        74830.68000000
        0.082562409327
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-04-15
          Fixed
          3.20000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Crown City CLO I
        549300K60T4GC7BSX929
        Crown City CLO I
        22823RAJ8
        
          
        
        250000.00000000
        PA
        USD
        247678.70000000
        0.273269602936
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2034-07-20
          Floating
          1.44400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FANNIE MAE
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3135G0V59
        
          
          
        
        300000.00000000
        PA
        USD
        300138.40000000
        0.331149595802
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2022-04-12
          Fixed
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NVIDIA CORP
        549300S4KLFTLO7GSQ80
        NVIDIA Corp
        67066GAL8
        
          
          
        
        300000.00000000
        PA
        USD
        287995.88000000
        0.317752474374
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-06-14
          Fixed
          0.58400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NATIXIS NY BRANCH
        N/A
        NATIXIS NY BRANCH
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        995968.56000000
        1.098875005918
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-12-01
          Fixed
          1.12000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CEB3
        
          
          
        
        20000.00000000
        PA
        USD
        19309.38000000
        0.021304482805
        Long
        DBT
        UST
        US
        N
        
        2
        
          2029-02-28
          Fixed
          1.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BANK OF AMERICA CORP
        9DJT3UXIJIZJI4WXO774
        Bank of America Corp
        06051GJJ9
        
          
          
        
        580000.00000000
        PA
        USD
        578702.69000000
        0.638495980133
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-10-24
          Floating
          0.83194900
          N
          N
          N
        
        
          N
          N
          
        
      
      
        HORMEL FOODS CORP
        MSD54751OJP1FS2ND863
        Hormel Foods Corp
        440452AG5
        
          
          
        
        135000.00000000
        PA
        USD
        129576.44000000
        0.142964664739
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-06-03
          Fixed
          0.65000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CARLISLE COS INC
        XR64VGX1ZPX6G7ZN7Z11
        Carlisle Cos Inc
        142339AK6
        
          
          
        
        90000.00000000
        PA
        USD
        87373.70000000
        0.096401411611
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-09-01
          Fixed
          0.55000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ENTERGY LOUISIANA LLC
        0V5453U14HDZO63CGH17
        Entergy Louisiana LLC
        29364WBK3
        
          
          
        
        345000.00000000
        PA
        USD
        329575.71000000
        0.363628456581
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-10-01
          Fixed
          0.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
        549300EX04Q2QBFQTQ27
        CME Ultra Long Term US Treasury Bond
        000000000
        
          
          
        
        -2.00000000
        NC
        USD
        3051.83000000
        0.003367154189
        N/A
        DIR
        CORP
        US
        N
        
        1
        
          
            
              BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US TREASURY N/B
                United States Treasury Note/Bond
                
                  
                  
                  
                
              
            
            2022-06-21
            -357301.83000000
            USD
            3051.83000000
          
        
        
          N
          N
          N
        
      
      
        JPMBB Commercial Mortgage Secu
        N/A
        JPMBB Commercial Mortgage Securities Trust 2015-C28
        46644FAC5
        
          
        
        1161722.68000000
        PA
        USD
        1144383.16000000
        1.262624245606
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2048-10-15
          Fixed
          2.91240000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KKR Financial CLO Ltd
        54930088PYF0FHKY5C94
        KKR CLO 18 Ltd
        48251JAL7
        
          
        
        1000000.00000000
        PA
        USD
        991521.70000000
        1.093968683063
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2030-07-18
          Floating
          1.18129000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STRIPS
        254900HROIFWPRGM1V77
        United States Treasury Strip Coupon
        912834KV9
        
          
          
        
        20000.00000000
        PA
        USD
        11673.44000000
        0.012879574681
        Long
        DBT
        UST
        US
        N
        
        2
        
          2041-11-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CANADIAN IMPERIAL BK OF COMM
        N/A
        CANADIAN IMPERIAL BK OF COMM
        000000000
        
          
        
        900000.00000000
        PA
        USD
        896556.69000000
        0.989191604632
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-12-01
          Fixed
          1.12000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FANNIE MAE
        B1V7KEBTPIMZEU4LTD58
        Federal National Mortgage Association
        3135G0T94
        
          
          
        
        1500000.00000000
        PA
        USD
        1510974.44000000
        1.667092831422
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2023-01-19
          Fixed
          2.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ROYAL BANK OF CANADA
        ES7IP3U3RHIGC71XBU11
        Royal Bank of Canada
        78015K7H1
        
          
          
        
        460000.00000000
        PA
        USD
        433874.41000000
        0.478703609737
        Long
        DBT
        CORP
        CA
        N
        
        2
        
          2025-06-10
          Fixed
          1.15000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        FREDDIE MAC
        S6XOOCT0IEG5ABCC6L87
        Federal Home Loan Mortgage Corp
        3137EAEQ8
        
          
          
        
        1190000.00000000
        PA
        USD
        1171437.88000000
        1.292474340071
        Long
        DBT
        USGSE
        US
        N
        
        2
        
          2023-04-20
          Fixed
          0.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CATERPILLAR FINL SERVICE
        EDBQKYOPJUCJKLOJDE72
        Caterpillar Financial Services Corp
        14913R2B2
        
          
          
        
        465000.00000000
        PA
        USD
        465013.47000000
        0.513060050408
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-05-13
          Fixed
          0.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SWEDBANK AB
        M312WZV08Y7LYUC71685
        Swedbank AB
        87020PAK3
        
          
          
        
        295000.00000000
        PA
        USD
        291007.52000000
        0.321075286013
        Long
        DBT
        CORP
        SE
        Y
        
        2
        
          2023-06-02
          Fixed
          1.30000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SOCIETE GENERALE SA
        N/A
        SOCIETE GENERALE SA
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        987920.14000000
        1.089994999128
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-12-01
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CIFC Funding Ltd
        5493001TP5YQV9X08Z14
        CIFC Funding 2015-I Ltd
        12548MBF1
        
          
        
        250000.00000000
        PA
        USD
        248375.93000000
        0.274038872822
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2031-01-22
          Floating
          1.36886000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ICG US CLO Ltd
        254900IL8TH4VLG5DO47
        ICG US CLO 2015-1 Ltd
        44931AAJ8
        
          
        
        400114.93000000
        PA
        USD
        398914.95000000
        0.440132033929
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2028-10-19
          Floating
          1.38800000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OVINTIV EXPLORATION INC
        T8W3X1PFLPW2YE0UIP44
        Ovintiv Exploration Inc
        651290AQ1
        
          
          
        
        240000.00000000
        PA
        USD
        252275.24000000
        0.278341071176
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-07-01
          Fixed
          5.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NUTRIEN LTD
        5493002QQ7GD21OWF963
        Nutrien Ltd
        67077MAJ7
        
          
          
        
        150000.00000000
        PA
        USD
        150670.40000000
        0.166238115680
        Long
        DBT
        CORP
        CA
        N
        
        2
        
          2022-10-01
          Fixed
          3.15000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WALGREENS BOOTS ALLIANCE
        549300RPTUOIXG4LIH86
        Walgreens Boots Alliance Inc
        931427AU2
        
          
          
        
        420000.00000000
        PA
        USD
        409320.16000000
        0.451612341299
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-11-17
          Fixed
          0.95000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810SY5
        
          
          
        
        2055000.00000000
        PA
        USD
        1939085.16000000
        2.139437229496
        Long
        DBT
        UST
        US
        N
        
        2
        
          2041-05-15
          Fixed
          2.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VF CORP
        CWAJJ9DJ5Z7P057HV541
        VF Corp
        918204AZ1
        
          
          
        
        234000.00000000
        PA
        USD
        234124.41000000
        0.258314843215
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-04-23
          Fixed
          2.05000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SIEMENS FINANCIERINGSMAT
        TAFO772JB70PDRN5VS48
        Siemens Financieringsmaatschappij NV
        82620KAV5
        
          
          
        
        250000.00000000
        PA
        USD
        246108.59000000
        0.271537264482
        Long
        DBT
        CORP
        NL
        
        N
        
        2
        
          2023-03-11
          Fixed
          0.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SWISS RE TREASURY (US)
        549300G1I1ZMYS87KM16
        Swiss Re Treasury US Corp
        87089HAA1
        
          
          
        
        175000.00000000
        PA
        USD
        175383.81000000
        0.193504989004
        Long
        DBT
        CORP
        US
        
        N
        
        2
        
          2022-12-06
          Fixed
          2.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
        549300EX04Q2QBFQTQ27
        CBOT 10 Year US Treasury Note
        000000000
        
          
          
        
        -6.00000000
        NC
        USD
        1414.12000000
        0.001560231101
        N/A
        DIR
        CORP
        US
        N
        
        1
        
          
            
              BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US TREASURY N/B
                United States Treasury Note/Bond
                
                  
                  
                  
                
              
            
            2022-06-21
            -738664.12000000
            USD
            1414.12000000
          
        
        
          N
          N
          N
        
      
      
        STRIPS
        254900HROIFWPRGM1V77
        United States Treasury Strip Coupon
        912833XU9
        
          
          
        
        30000.00000000
        PA
        USD
        24650.39000000
        0.027197341909
        Long
        DBT
        UST
        US
        N
        
        2
        
          2030-05-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PHILIP MORRIS INTL INC
        HL3H1H2BGXWVG3BSWR90
        Philip Morris International Inc
        718172CQ0
        
          
          
        
        270000.00000000
        PA
        USD
        266678.48000000
        0.294232496945
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-05-01
          Fixed
          1.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810TC2
        
          
          
        
        530000.00000000
        PA
        USD
        479484.38000000
        0.529026138044
        Long
        DBT
        UST
        US
        N
        
        2
        
          2041-11-15
          Fixed
          2.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        912810TB4
        
          
          
        
        105000.00000000
        PA
        USD
        91940.63000000
        0.101440210457
        Long
        DBT
        UST
        US
        N
        
        2
        
          2051-11-15
          Fixed
          1.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SUMITOMO MITSUI TR BK LT
        5493006GGLR4BTEL8O61
        Sumitomo Mitsui Trust Bank Ltd
        86563VAU3
        
          
          
        
        280000.00000000
        PA
        USD
        268275.23000000
        0.295994227924
        Long
        DBT
        CORP
        JP
        N
        
        2
        
          2024-03-25
          Fixed
          0.85000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        9128285C0
        
          
          
        
        505000.00000000
        PA
        USD
        512732.81000000
        0.565709895123
        Long
        DBT
        UST
        US
        N
        
        2
        
          2025-09-30
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        T-MOBILE USA INC
        549300V2JRLO5DIFGE82
        T-Mobile USA Inc
        87264ABB0
        
          
          
        
        175000.00000000
        PA
        USD
        176060.35000000
        0.194251431137
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2025-04-15
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TORONTO DOMINION BK NY
        N/A
        TORONTO DOMINION BK NY
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        994892.01000000
        1.097687223557
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-12-01
          Fixed
          0.93000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
        549300EX04Q2QBFQTQ27
        CBOT 2 Year US Treasury Note
        000000000
        
          
          
        
        25.00000000
        NC
        USD
        -68029.48000000
        -0.07505848903
        N/A
        DIR
        CORP
        US
        N
        
        1
        
          
            
              BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
              549300EX04Q2QBFQTQ27
            
            Long
            
              
                US TREASURY N/B
                United States Treasury Note/Bond
                
                  
                  
                  
                
              
            
            2022-06-30
            5366076.38000000
            USD
            -68029.48000000
          
        
        
          N
          N
          N
        
      
      
        BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
        549300EX04Q2QBFQTQ27
        CBOT 5 Year US Treasury Note
        000000000
        
          
          
        
        -36.00000000
        NC
        USD
        86670.32000000
        0.095625356289
        N/A
        DIR
        CORP
        US
        N
        
        1
        
          
            
              BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US TREASURY N/B
                United States Treasury Note/Bond
                
                  
                  
                  
                
              
            
            2022-06-30
            -4215420.32000000
            USD
            86670.32000000
          
        
        
          N
          N
          N
        
      
      
        STRIPS
        254900HROIFWPRGM1V77
        United States Treasury Strip Coupon
        912834MZ8
        
          
          
        
        135000.00000000
        PA
        USD
        74460.94000000
        0.082154466686
        Long
        DBT
        UST
        US
        N
        
        2
        
          2043-11-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STRIPS
        254900HROIFWPRGM1V77
        United States Treasury Strip Coupon
        912834DV7
        
          
          
        
        10000.00000000
        PA
        USD
        6431.64000000
        0.007096176251
        Long
        DBT
        UST
        US
        N
        
        2
        
          2039-05-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KEY BANK NA
        HUX2X73FUCYHUVH1BK78
        KeyBank NA/Cleveland OH
        49327M3C6
        
          
          
        
        250000.00000000
        PA
        USD
        243672.68000000
        0.268849668986
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2024-06-14
          Fixed
          0.43300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PGIM Core Short-Term Bond Fund
        E0CZ3XBGWL3ADZM3C128
        PGIM Core Short-Term Bond Fund
        74440E102
        
          
          
        
        874902.83200000
        NS
        USD
        7987862.86000000
        8.813192705159
        Long
        EC
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TICP CLO Ltd
        549300T5OQR4UD880D68
        TICP CLO IX Ltd
        87249AAA3
        
          
        
        500000.00000000
        PA
        USD
        497196.00000000
        0.548567775515
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2031-01-20
          Floating
          1.39400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Freddie Mac - SCRT
        N/A
        Seasoned Credit Risk Transfer Trust Series 2019-2
        35563PKG3
        
          
        
        84575.24000000
        PA
        USD
        84912.05000000
        0.093685416582
        Long
        ABS-MBS
        USGSE
        US
        N
        
        2
        
          2058-08-25
          Fixed
          3.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CREDIT AGRICOLE CIB NY
        N/A
        CREDIT AGRICOLE CIB NY
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        996404.86000000
        1.099356385737
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-12-01
          Fixed
          1.14000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Wellfleet CLO Ltd
        254900SGJWAIVC8ISP96
        Wellfleet CLO 2016-2 Ltd
        94949LAL4
        
          
        
        570605.87000000
        PA
        USD
        569346.66000000
        0.628173257173
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2028-10-20
          Floating
          1.39400000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SVENSKA HANDELSBANKEN AB
        N/A
        SVENSKA HANDELSBANKEN AB
        000000000
        
          
        
        890000.00000000
        PA
        USD
        879624.45000000
        0.970509875030
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-12-01
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SKANDINAVISKA ENSKILDA BANKEN AB
        N/A
        SKANDINAVISKA ENSKILDA BANKEN AB
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        988532.64000000
        1.090670784458
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-12-01
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CBG5
        
          
          
        
        7830000.00000000
        PA
        USD
        7737324.59000000
        8.536768072910
        Long
        DBT
        UST
        US
        N
        
        2
        
          2023-01-31
          Fixed
          0.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CENTERPOINT ENERGY RES
        2JADVB0458J06WCD4N56
        CenterPoint Energy Resources Corp
        15189WAM2
        
          
          
        
        150000.00000000
        PA
        USD
        147874.84000000
        0.163153710073
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-03-02
          Fixed
          0.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VERIZON COMMUNICATIONS
        2S72QS2UO2OESLG6Y829
        Verizon Communications Inc
        92343VGG3
        
          
          
        
        320000.00000000
        PA
        USD
        300919.06000000
        0.332010915925
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2026-03-20
          Fixed
          1.45000000
          N
          N
          N
        
        
          N
          N
          
        
      
      
        PHILLIPS 66
        5493005JBO5YSIGK1814
        Phillips 66
        718546AU8
        
          
          
        
        85000.00000000
        PA
        USD
        86142.98000000
        0.095043529945
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-04-06
          Fixed
          3.70000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CITIGROUP INC
        6SHGI4ZSSLCXXQSBB395
        Citigroup Inc
        172967LG4
        
          
          
        
        370000.00000000
        PA
        USD
        370213.42000000
        0.408464976137
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-04-25
          Fixed
          2.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ROYAL BANK OF CANADA (NEW YORK BRA
        N/A
        ROYAL BANK OF CANADA (NEW YORK BRA
        000000000
        
          
        
        415000.00000000
        PA
        USD
        411582.80000000
        0.454108764021
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-10-11
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STRIPS
        254900HROIFWPRGM1V77
        United States Treasury Strip Coupon
        912834MM7
        
          
          
        
        790000.00000000
        PA
        USD
        440054.69000000
        0.485522454723
        Long
        DBT
        UST
        US
        N
        
        2
        
          2043-05-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NTT FINANCE CORP
        3538007PR116187GD960
        NTT Finance Corp
        62954WAA3
        
          
          
        
        230000.00000000
        PA
        USD
        226497.51000000
        0.249899909131
        Long
        DBT
        CORP
        JP
        N
        
        2
        
          2023-03-03
          Fixed
          0.37300000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Madison Park Funding Ltd
        N/A
        Madison Park Funding XVIII Ltd
        55819BAW0
        
          
        
        500000.00000000
        PA
        USD
        495308.75000000
        0.546485529209
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2030-10-21
          Floating
          1.19514000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EXXON MOBIL CORPORATION
        J3WHBG0MTS7O8ZVMDC91
        Exxon Mobil Corp
        30231GBL5
        
          
          
        
        220000.00000000
        PA
        USD
        219179.35000000
        0.241825614985
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2023-04-15
          Fixed
          1.57100000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Voya CLO Ltd
        54930085W413OSH6FR69
        Voya CLO 2015-1 Ltd
        92914NAJ0
        
          
        
        387075.83000000
        PA
        USD
        384600.87000000
        0.424338980436
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2029-01-18
          Floating
          1.14129000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
        549300EX04Q2QBFQTQ27
        US 10YR ULTRA
        000000000
        
          
          
        
        -2.00000000
        NC
        USD
        9231.72000000
        0.010185568879
        N/A
        DIR
        CORP
        US
        N
        
        1
        
          
            
              BOARD OF TRADE OF THE CITY OF CHICAGO, INC.
              549300EX04Q2QBFQTQ27
            
            Short
            
              
                US TREASURY N/B
                United States Treasury Note/Bond
                
                  
                  
                  
                
              
            
            2022-06-21
            -280169.22000000
            USD
            9231.72000000
          
        
        
          N
          N
          N
        
      
      
        Ocean Trails CLO
        549300RX29DPTX81VW10
        Ocean Trails CLO V
        67515EAR7
        
          
        
        491457.78000000
        PA
        USD
        487222.89000000
        0.537564214007
        Long
        ABS-CBDO
        CORP
        KY
        N
        
        2
        
          2031-10-13
          Floating
          1.52443000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PGIM Core Ultra Short Bond Fund
        1VRLPVAWKZCB406TIT84
        PGIM Core Ultra Short Bond Fund
        000000000
        
          
        
        577.93000000
        NS
        USD
        577.93000000
        0.000637643453
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Wells Fargo Commercial Mortgag
        N/A
        Wells Fargo Commercial Mortgage Trust 2017-C41
        95001ABA3
        
          
        
        460000.00000000
        PA
        USD
        459393.44000000
        0.506859342125
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2050-11-15
          Fixed
          2.59000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UBS Commercial Mortgage Trust
        N/A
        UBS Commercial Mortgage Trust 2017-C5
        90276TAA2
        
          
        
        46191.76000000
        PA
        USD
        46171.97000000
        0.050942595825
        Long
        ABS-MBS
        CORP
        US
        N
        
        2
        
          2050-11-15
          Fixed
          2.13900000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TENN VALLEY AUTHORITY
        549300HE1ISW43LNKM54
        Tennessee Valley Authority
        880591EN8
        
          
          
        
        10000.00000000
        PA
        USD
        10031.35000000
        0.011067819039
        Long
        DBT
        USGA
        US
        N
        
        2
        
          2022-08-15
          Fixed
          1.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CDL2
        
          
          
        
        1845000.00000000
        PA
        USD
        1738047.66000000
        1.917627934630
        Long
        DBT
        UST
        US
        N
        
        2
        
          2028-11-30
          Fixed
          1.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US TREASURY N/B
        254900HROIFWPRGM1V77
        United States Treasury Note/Bond
        91282CEC1
        
          
          
        
        465000.00000000
        PA
        USD
        452612.11000000
        0.499377344858
        Long
        DBT
        UST
        US
        N
        
        2
        
          2027-02-28
          Fixed
          1.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BIOGEN INC
        W8J5WZB5IY3K0NDQT671
        Biogen Inc
        09062XAE3
        
          
          
        
        355000.00000000
        PA
        USD
        358017.78000000
        0.395009246191
        Long
        DBT
        CORP
        US
        N
        
        2
        
          2022-09-15
          Fixed
          3.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
    
    
      
      
    
    
      2022-05-24
      Advanced Series Trust
      Christian J. Kelly
      Christian J. Kelly
      Treasurer and Principal Financial and Accounting Officer
    
  
  XXXX




AST BOND PORTFOLIO 2022
SCHEDULE OF INVESTMENTS as of March 31, 2022 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Long-Term Investments — 80.3%
Asset-Backed Securities — 7.9%
Collateralized Loan Obligations
Benefit Street Partners CLO Ltd. (Cayman Islands),
Series 2013-03A, Class A1R2, 144A, 3 Month LIBOR + 1.000% (Cap N/A, Floor 1.000%)
1.254%(c)   07/20/29     407   $405,011
Series 2017-12A, Class A1R, 144A, 3 Month LIBOR + 0.950% (Cap N/A, Floor 0.950%)
1.191%(c)   10/15/30     1,000   990,866
CIFC Funding Ltd. (Cayman Islands),
Series 2015-01A, Class ARR, 144A, 3 Month LIBOR + 1.110% (Cap N/A, Floor 1.110%)
1.369%(c)   01/22/31     250   248,376
Crown City CLO (Cayman Islands),
Series 2020-01A, Class A1AR, 144A, 3 Month LIBOR + 1.190% (Cap N/A, Floor 1.190%)
1.444%(c)   07/20/34     250   247,679
Elmwood CLO Ltd. (Cayman Islands),
Series 2019-02A, Class AR, 144A, 3 Month LIBOR + 1.150% (Cap N/A, Floor 1.150%)
1.404%(c)   04/20/34     250   247,373
ICG US CLO Ltd. (Cayman Islands),
Series 2015-01A, Class A1R, 144A, 3 Month LIBOR + 1.140% (Cap N/A, Floor 1.140%)
1.388%(c)   10/19/28     400   398,915
KKR CLO Ltd. (Cayman Islands),
Series 18, Class AR, 144A, 3 Month LIBOR + 0.940% (Cap N/A, Floor 0.940%)
1.181%(c)   07/18/30     1,000   991,522
Madison Park Funding Ltd. (Cayman Islands),
Series 2015-18A, Class ARR, 144A, 3 Month LIBOR + 0.940% (Cap N/A, Floor 0.940%)
1.195%(c)   10/21/30     500   495,309
Oaktree CLO Ltd. (Cayman Islands),
Series 2015-01A, Class A1R, 144A, 3 Month LIBOR + 0.870% (Cap N/A, Floor 0.000%)
1.124%(c)   10/20/27     104   104,027
Ocean Trails CLO (Cayman Islands),
Series 2014-05A, Class ARR, 144A, 3 Month LIBOR + 1.280% (Cap N/A, Floor 1.280%)
1.524%(c)   10/13/31     491   487,223
OCP CLO Ltd. (Cayman Islands),
Series 2020-18A, Class AR, 144A, 3 Month LIBOR + 1.090% (Cap N/A, Floor 1.090%)
1.344%(c)   07/20/32     250   247,508
TICP CLO Ltd. (Cayman Islands),
Series 2017-09A, Class A, 144A, 3 Month LIBOR + 1.140% (Cap N/A, Floor 1.140%)
1.394%(c)   01/20/31     500   497,196
Series 2018-03R, Class A, 144A, 3 Month LIBOR + 0.840% (Cap N/A, Floor 0.840%)
1.094%(c)   04/20/28     238   237,063
Trinitas CLO Ltd. (Cayman Islands),
Series 2016-05A, Class ARR, 144A, 3 Month LIBOR + 1.030% (Cap N/A, Floor 1.030%)
1.288%(c)   10/25/28     550   548,738
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Voya CLO Ltd. (Cayman Islands),
Series 2015-01A, Class A1R, 144A, 3 Month LIBOR + 0.900% (Cap N/A, Floor 0.900%)
1.141%(c)   01/18/29     387   $384,601
Wellfleet CLO Ltd. (Cayman Islands),
Series 2016-02A, Class A1R, 144A, 3 Month LIBOR + 1.140% (Cap N/A, Floor 1.140%)
1.394%(c)   10/20/28     571   569,347
 
Total Asset-Backed Securities

(cost $7,147,136)

  7,100,754
Commercial Mortgage-Backed Securities — 4.2%
Citigroup Commercial Mortgage Trust,
Series 2015-P01, Class A4
3.462%   09/15/48     900   895,144
GS Mortgage Securities Trust,
Series 2015-GC32, Class A3
3.498%   07/10/48     1,200   1,201,972
JPMBB Commercial Mortgage Securities Trust,
Series 2015-C28, Class A3
2.912%   10/15/48     1,162   1,144,383
Morgan Stanley Capital I Trust,
Series 2015-MS01, Class A2
3.261%   05/15/48     46   45,788
UBS Commercial Mortgage Trust,
Series 2017-C05, Class A1
2.139%   11/15/50     46   46,172
Wells Fargo Commercial Mortgage Trust,
Series 2017-C41, Class A2
2.590%   11/15/50     460   459,393
 
Total Commercial Mortgage-Backed Securities

(cost $3,814,511)

  3,792,852
Corporate Bonds — 11.8%
Agriculture — 0.6%
Cargill, Inc.,
Sr. Unsec’d. Notes, 144A
1.375%   07/23/23     230   227,028
Philip Morris International, Inc.,
Sr. Unsec’d. Notes
1.125%   05/01/23     270   266,678
              493,706
Apparel — 0.3%
VF Corp.,
Sr. Unsec’d. Notes
2.050%   04/23/22     234   234,124
Auto Manufacturers — 0.2%
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes
3.350%   11/01/22     200   200,542
Banks — 3.5%
Bank of America Corp.,
Sr. Unsec’d. Notes, MTN, SOFR + 0.730%
0.876%(c)   10/24/24(a)     580   578,703
A1

AST BOND PORTFOLIO 2022 (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2022 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
Barclays PLC (United Kingdom),
Sr. Unsec’d. Notes
3.932%(ff)   05/07/25     310   $312,428
Canadian Imperial Bank of Commerce (Canada),
Sr. Unsec’d. Notes
0.450%   06/22/23     225   219,654
Citigroup, Inc.,
Sr. Unsec’d. Notes
2.750%   04/25/22     370   370,213
KeyBank NA,
Sr. Unsec’d. Notes
0.433%(ff)   06/14/24     250   243,673
Lloyds Banking Group PLC (United Kingdom),
Sr. Unsec’d. Notes
3.870%(ff)   07/09/25     200   201,863
National Securities Clearing Corp.,
Sr. Unsec’d. Notes, 144A
1.200%   04/23/23     250   247,566
Royal Bank of Canada (Canada),
Sr. Unsec’d. Notes, MTN
1.150%   06/10/25(a)     460   433,874
Sumitomo Mitsui Trust Bank Ltd. (Japan),
Sr. Unsec’d. Notes, 144A, MTN
0.850%   03/25/24     280   268,275
Swedbank AB (Sweden),
Sr. Unsec’d. Notes, 144A
1.300%   06/02/23     295   291,008
              3,167,257
Biotechnology — 0.4%
Biogen, Inc.,
Sr. Unsec’d. Notes
3.625%   09/15/22     355   358,018
Chemicals — 0.5%
LYB International Finance BV,
Gtd. Notes
4.000%   07/15/23     282   286,514
Nutrien Ltd. (Canada),
Sr. Unsec’d. Notes
3.150%   10/01/22     150   150,671
              437,185
Electric — 1.3%
Avangrid, Inc.,
Sr. Unsec’d. Notes
3.200%   04/15/25     75   74,831
Entergy Louisiana LLC,
Collateral Trust Bond
0.950%   10/01/24     345   329,576
NextEra Energy Capital Holdings, Inc.,
Gtd. Notes
0.650%   03/01/23     165   162,693
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
OGE Energy Corp.,
Sr. Unsec’d. Notes
0.703%   05/26/23     570   $558,041
              1,125,141
Foods — 0.1%
Hormel Foods Corp.,
Sr. Unsec’d. Notes
0.650%   06/03/24     135   129,576
Gas — 0.2%
CenterPoint Energy Resources Corp.,
Sr. Unsec’d. Notes
0.700%   03/02/23     150   147,875
Healthcare-Services — 0.6%
Aetna, Inc.,
Sr. Unsec’d. Notes
2.750%   11/15/22     575   577,690
Insurance — 0.2%
Swiss Re Treasury US Corp. (Switzerland),
Gtd. Notes, 144A
2.875%   12/06/22     175   175,384
Machinery-Construction & Mining — 0.5%
Caterpillar Financial Services Corp.,
Sr. Unsec’d. Notes, MTN
0.950%   05/13/22     465   465,013
Miscellaneous Manufacturing — 0.4%
Carlisle Cos., Inc.,
Sr. Unsec’d. Notes
0.550%   09/01/23     90   87,374
Siemens Financieringsmaatschappij NV (Germany),
Gtd. Notes, 144A
0.400%   03/11/23     250   246,108
              333,482
Oil & Gas — 0.6%
Exxon Mobil Corp.,
Sr. Unsec’d. Notes
1.571%   04/15/23     220   219,180
Ovintiv Exploration, Inc.,
Gtd. Notes
5.625%   07/01/24     240   252,275
Phillips 66,
Gtd. Notes
3.700%   04/06/23     85   86,143
              557,598
Pharmaceuticals — 0.5%
AbbVie, Inc.,
Sr. Unsec’d. Notes
3.600%   05/14/25     260   263,889
Shire Acquisitions Investments Ireland DAC,
Gtd. Notes
2.875%   09/23/23     185   185,705
              449,594
 
A2

AST BOND PORTFOLIO 2022 (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2022 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
Corporate Bonds (continued)
Retail — 0.5%
Walgreens Boots Alliance, Inc.,
Sr. Unsec’d. Notes
0.950%   11/17/23     420   $409,320
Semiconductors — 0.3%
NVIDIA Corp.,
Sr. Unsec’d. Notes
0.584%   06/14/24     300   287,996
Software — 0.3%
salesforce.com, Inc.,
Sr. Unsec’d. Notes
0.625%   07/15/24     300   287,520
Telecommunications — 0.8%
NTT Finance Corp. (Japan),
Gtd. Notes, 144A
0.373%   03/03/23     230   226,498
T-Mobile USA, Inc.,
Sr. Sec’d. Notes
3.500%   04/15/25     175   176,060
Verizon Communications, Inc.,
Sr. Unsec’d. Notes
1.450%   03/20/26(a)     320   300,919
              703,477
 
Total Corporate Bonds

(cost $10,710,698)

  10,540,498
Residential Mortgage-Backed Security — 0.1%
Seasoned Credit Risk Transfer Trust,
Series 2019-02, Class MA
3.500%   08/25/58     85   84,912
(cost $85,747)        
Sovereign Bonds — 1.2%
Abu Dhabi Government International Bond (United Arab Emirates),
Sr. Unsec’d. Notes, 144A
3.125%   10/11/27(a)     315   322,760
Japan Finance Organization for Municipalities (Japan),
Sr. Unsec’d. Notes, 144A, MTN
2.125%   10/25/23     200   199,085
Province of British Columbia (Canada),
Sr. Unsec’d. Notes
2.000%   10/23/22     25   25,090
Province of Ontario (Canada),
Sr. Unsec’d. Notes
2.450%   06/29/22     475   476,514
 
Total Sovereign Bonds

(cost $1,016,118)

  1,023,449
U.S. Government Agency Obligations — 3.3%
Federal Home Loan Mortgage Corp.
0.375%   04/20/23     1,190   1,171,438
Federal National Mortgage Assoc.
2.250%   04/12/22     300   300,138
2.375%   01/19/23     1,500   1,510,975
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
 
U.S. Government Agency Obligations (continued)
Tennessee Valley Authority, Sr. Unsec’d. Notes
1.875%   08/15/22     10   $10,031
 
Total U.S. Government Agency Obligations

(cost $3,022,267)

  2,992,582
U.S. Treasury Obligations — 51.8%
U.S. Treasury Bonds
1.875%   11/15/51     105   91,941
2.000%   11/15/41     530   479,484
2.250%   05/15/41     2,055   1,939,085
U.S. Treasury Notes
0.125%   01/31/23     7,830   7,737,325
0.750%   03/31/26     5   4,662
1.500%   11/30/28     1,845   1,738,048
1.875%   02/28/27     465   452,612
1.875%   02/28/29     20   19,309
2.125%   12/31/22(k)     32,700   32,863,500
3.000%   09/30/25(k)     505   512,733
U.S. Treasury Strips Coupon
0.775%(s)   05/15/30     30   24,650
1.394%(s)   11/15/41     20   11,673
1.450%(s)   08/15/42     10   5,696
2.205%(s)   05/15/39     10   6,432
2.220%(s)   05/15/43     790   440,055
2.394%(s)   11/15/43     135   74,461
 
Total U.S. Treasury Obligations

(cost $47,231,839)

  46,401,666
 
Total Long-Term Investments

(cost $73,028,316)

  71,936,713
    
      Shares  
Short-Term Investments — 21.1%
Affiliated Mutual Funds — 10.2%
PGIM Core Short-Term Bond Fund(wc)

875,591 7,994,147
PGIM Core Ultra Short Bond Fund(wc)

617,452 617,452
PGIM Institutional Money Market Fund

(cost $490,587; includes $490,452 of cash collateral for securities on loan)(b)(wc)

491,029 490,587
 
Total Affiliated Mutual Funds

(cost $9,175,925)

9,102,186
    
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
 
Certificates of Deposit — 5.4%
Canadian Imperial Bank of Commerce
1.120%   12/01/22     900 896,557
Cooperatieve Rabobank UA
0.930%   12/01/22     1,000 994,718
Credit Agricole Corporate & Investment Bank SA
1.140%   12/01/22     1,000 996,405
Natixis SA
1.120%   12/01/22     1,000 995,968
 
A3

AST BOND PORTFOLIO 2022 (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2022 (unaudited)
Interest
Rate
  Maturity
Date
  Principal
Amount
(000)#
  Value
Certificates of Deposit(continued)
Toronto-Dominion Bank (The)
0.930%   12/01/22     1,000   $994,892
 
Total Certificates of Deposit

(cost $4,900,000)

  4,878,540
Commercial Paper(n) — 5.5%
Royal Bank of Canada,
144A
0.976%   10/11/22     415   411,583
Skandinaviska Enskilda Banken AB,
144A
1.059%   12/01/22     1,000   988,533
Societe Generale SA,
144A
1.099%   12/01/22     1,000   987,920
Svenska Handelsbanken AB,
144A
1.018%   12/01/22     890   879,624
Swedbank AB,
144A
1.089%   12/01/22     700   692,211
Westpac Banking Corp.,
144A
1.005%   09/08/22     1,000   994,119
 
Total Commercial Paper

(cost $4,972,676)

  4,953,990
 
Total Short-Term Investments

(cost $19,048,601)

  18,934,716
 
TOTAL INVESTMENTS—101.4%

(cost $92,076,917)

  90,871,429
 
Liabilities in excess of other assets(z) — (1.4)%

  (1,234,255)
 
Net Assets — 100.0%

  $89,637,174
    
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
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.
CLO Collateralized Loan Obligation
LIBOR London Interbank Offered Rate
MTN Medium Term Note
SOFR Secured Overnight Financing Rate
STRIPs Separate Trading of Registered Interest and Principal of Securities
    
# Principal amount is shown in U.S. dollars unless otherwise stated.
(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $482,040; cash collateral of $490,452 (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, 2022.
(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.
(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.
(n) Rate shown reflects yield to maturity at purchased date.
(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.
(wc) PGIM Investments LLC, the co-manager of the Portfolio, also serves as manager of the PGIM Core Short-Term Bond Fund, PGIM Core Ultra Short Bond Fund and PGIM Institutional Money Market Fund, if applicable.
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
 
Futures contracts outstanding at March 31, 2022:
Number
of
Contracts
  Type   Expiration
Date
  Current
Notional
Amount
  Value /
Unrealized
Appreciation
(Depreciation)
Long Position:
25   2 Year U.S. Treasury Notes   Jun. 2022   $5,298,047   $(68,029)
Short Positions:
36   5 Year U.S. Treasury Notes   Jun. 2022   4,128,750   86,670
6   10 Year U.S. Treasury Notes   Jun. 2022   737,250   1,414
2   10 Year U.S. Ultra Treasury Notes   Jun. 2022   270,938   9,232
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AST BOND PORTFOLIO 2022 (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2022 (unaudited)
Futures contracts outstanding at March 31, 2022 (continued):
Number
of
Contracts
  Type   Expiration
Date
  Current
Notional
Amount
  Value /
Unrealized
Appreciation
(Depreciation)
Short Positions (cont’d):
29   20 Year U.S. Treasury Bonds   Jun. 2022   $4,351,812   $131,883
2   30 Year U.S. Ultra Treasury Bonds   Jun. 2022   354,250   3,052
                232,251
                $164,222
Other information regarding the Portfolio is available in the Portfolio’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
A5