AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
Long-Term Investments — 90.9%
Affiliated Mutual Funds — 23.4%
Domestic Equity — 12.5%
AST Large-Cap Growth Portfolio*
7,807,251   $780,100,546
AST Large-Cap Value Portfolio*
5,287,935   327,693,354
AST Small-Cap Equity Portfolio*
2,571,260   221,179,755
PGIM Jennison Natural Resources Fund
18,981   1,670,930
            1,330,644,585
Fixed Income — 10.1%
AST PGIM Fixed Income Central Portfolio*
88,804,787   1,062,993,299
PSF PGIM High Yield Bond Portfolio*
2,260,271   17,675,320
            1,080,668,619
International Equity — 0.8%
PGIM Global Real Estate Fund
2,071,176   43,846,804
PGIM Jennison Emerging Markets Equity Opportunities Fund
1,939,219   40,413,322
            84,260,126
 
Total Affiliated Mutual Funds

(cost $1,961,356,619)(wa)
  2,495,573,330
Common Stocks — 44.9%
Aerospace & Defense — 1.6%
Airbus SE (France)
50,164   9,484,656
ATI, Inc.*
65,800   9,571,268
BAE Systems PLC (United Kingdom)
96,563   2,831,083
Boeing Co. (The)*
35,428   7,051,235
CSG NV (Czech Republic)*
31,576   851,843
Elbit Systems Ltd. (Israel) (TASE)
1,586   1,337,175
Elbit Systems Ltd. (Israel) (XNGS)
1,936   1,643,838
Embraer SA (Brazil), ADR
55,150   3,272,601
FTAI Aviation Ltd.(a)
16,300   3,993,500
General Dynamics Corp.
36,990   12,695,708
General Electric Co.
49,181   13,956,092
Howmet Aerospace, Inc.
56,104   12,929,728
Leonardo SpA (Italy)
31,318   2,130,234
Lockheed Martin Corp.
4,100   2,477,999
MTU Aero Engines AG (Germany)
1,536   560,362
Northrop Grumman Corp.
20,681   14,109,405
Rheinmetall AG (Germany)
2,763   4,660,590
Rolls-Royce Holdings PLC (United Kingdom)
644,391   9,789,862
RTX Corp.
137,007   26,428,650
Saab AB (Sweden) (Class B Stock)(a)
71,148   4,656,620
Safran SA (France)
29,132   9,532,845
Singapore Technologies Engineering Ltd. (Singapore)
359,200   3,048,615
Thales SA (France)
7,471   2,190,835
Woodward, Inc.
22,133   7,921,843
            167,126,587
Air Freight & Logistics — 0.1%
C.H. Robinson Worldwide, Inc.
5,540   920,028
Deutsche Post AG (Germany)
107,237   5,652,133
DSV A/S (Denmark)
3,029   731,528
      Shares   Value
 
Common Stocks (continued)
Air Freight & Logistics (cont’d.)
FedEx Corp.
23,800   $8,477,084
            15,780,773
Automobile Components — 0.1%
Aisin Corp. (Japan)
29,400   414,191
Aptiv PLC*
96,500   6,700,960
Aumovio SE (Germany)*
18,621   729,219
Bridgestone Corp. (Japan)
72,800   1,517,026
Cie Generale des Etablissements Michelin SCA (France)
33,561   1,149,763
Sumitomo Electric Industries Ltd. (Japan)
37,900   2,153,481
            12,664,640
Automobiles — 0.9%
Bayerische Motoren Werke AG (Germany)
21,394   1,979,089
Ferrari NV (Italy)
1,414   479,776
Ford Motor Co.
228,900   2,641,506
General Motors Co.
204,641   15,245,754
Honda Motor Co. Ltd. (Japan)
458,000   3,706,857
Isuzu Motors Ltd. (Japan)
145,000   2,088,111
Mahindra & Mahindra Ltd. (India)
38,779   1,216,364
Mercedes-Benz Group AG (Germany)
77,948   4,790,910
Stellantis NV
75,859   548,277
Subaru Corp. (Japan)
59,600   960,239
Suzuki Motor Corp. (Japan)
33,800   411,979
Tesla, Inc.*
127,361   47,346,452
Toyota Motor Corp. (Japan)
446,300   9,277,394
Yamaha Motor Co. Ltd. (Japan)
41,600   300,535
            90,993,243
Banks — 3.2%
ABN AMRO Bank NV (Netherlands), CVA
13,166   417,373
AIB Group PLC (Ireland)
619,274   6,610,821
ANZ Group Holdings Ltd. (Australia)
172,038   4,325,938
Banca Monte dei Paschi di Siena SpA (Italy)
117,917   1,028,888
Banco Bilbao Vizcaya Argentaria SA (Spain)
245,619   5,305,265
Banco Santander SA (Spain)
665,017   7,455,318
Bank Hapoalim BM (Israel)
142,535   3,347,435
Bank Leumi Le-Israel BM (Israel)
42,142   942,415
Bank of America Corp.
319,286   15,565,193
Bank of Ireland Group PLC (Ireland)
10,334   187,492
Barclays PLC (United Kingdom)
1,970,799   10,314,145
BNP Paribas SA (France)
109,331   10,415,267
BOC Hong Kong Holdings Ltd. (China)
385,500   2,126,806
CaixaBank SA (Spain)
669,780   8,029,094
Chiba Bank Ltd. (The) (Japan)
43,400   561,794
Citigroup, Inc.
183,581   20,819,921
Citizens Financial Group, Inc.
81,600   4,893,552
Commerzbank AG (Germany)
8,366   305,186
Commonwealth Bank of Australia (Australia)
68,644   8,038,680
Credit Agricole SA (France)
178,087   3,323,878
A1
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Banks (cont’d.)
Danske Bank A/S (Denmark)
71,154   $3,506,653
DBS Group Holdings Ltd. (Singapore)
29,180   1,298,514
DNB Bank ASA (Norway)
11,776   368,455
East West Bancorp, Inc.
15,105   1,612,610
Erste Group Bank AG (Austria)
3,567   385,326
HSBC Holdings PLC (United Kingdom)
1,236,839   20,312,104
ING Groep NV (Netherlands)
337,750   8,766,869
Intesa Sanpaolo SpA (Italy)
542,685   3,282,096
Japan Post Bank Co. Ltd. (Japan)
92,200   1,503,803
JPMorgan Chase & Co.
143,096   42,093,119
KBC Group NV (Belgium)
14,322   1,752,898
Lloyds Banking Group PLC (United Kingdom)
3,558,311   4,410,295
M&T Bank Corp.
29,514   6,101,134
Mitsubishi UFJ Financial Group, Inc. (Japan)
838,000   14,190,637
Mizuho Financial Group, Inc. (Japan)
75,800   3,068,669
National Australia Bank Ltd. (Australia)
95,408   2,759,741
NatWest Group PLC (United Kingdom)
756,930   5,607,297
Nordea Bank Abp (Finland)
268,388   4,621,417
NU Holdings Ltd. (Brazil) (Class A Stock)*
383,875   5,516,284
Oversea-Chinese Banking Corp. Ltd. (Singapore)
247,600   4,240,834
PNC Financial Services Group, Inc. (The)
56,118   11,677,595
Resona Holdings, Inc. (Japan)
242,500   2,766,379
Sberbank of Russia PJSC (Russia)*^
306,596   —
Societe Generale SA (France)
40,202   2,935,426
Standard Chartered PLC (United Kingdom)
137,503   2,865,542
Sumitomo Mitsui Financial Group, Inc. (Japan)
258,000   8,483,124
Swedbank AB (Sweden) (Class A Stock)(a)
58,418   1,991,091
Truist Financial Corp.
265,827   12,220,067
U.S. Bancorp
244,852   12,734,753
UniCredit SpA (Italy)
84,337   6,050,658
Wells Fargo & Co.
328,615   26,161,040
Westpac Banking Corp. (Australia)
79,907   2,208,252
Wintrust Financial Corp.
8,561   1,189,465
            340,696,608
Beverages — 0.5%
Anheuser-Busch InBev SA/NV (Belgium)
56,883   3,935,513
Asahi Group Holdings Ltd. (Japan)
423,800   4,231,486
Carlsberg A/S (Denmark) (Class B Stock)
25,434   3,175,398
Coca-Cola Co. (The)
128,946   9,806,343
Coca-Cola HBC AG (Italy)*
22,076   1,243,524
Diageo PLC (United Kingdom)
44,537   828,264
Heineken Holding NV (Netherlands)
32,742   2,330,126
Keurig Dr. Pepper, Inc.(a)
68,400   1,800,972
Kirin Holdings Co. Ltd. (Japan)
220,200   3,502,542
Monster Beverage Corp.*
50,000   3,623,000
      Shares   Value
 
Common Stocks (continued)
Beverages (cont’d.)
PepsiCo, Inc.
86,881   $13,491,751
            47,968,919
Biotechnology — 0.9%
AbbVie, Inc.
162,463   35,334,078
Amgen, Inc.
28,661   10,084,373
Argenx SE (Netherlands)*
3,113   2,259,226
Argenx SE (Netherlands), ADR*
3,853   2,813,653
Biogen, Inc.*
12,100   2,218,293
CSL Ltd. (Australia)
36,871   3,621,431
Exelixis, Inc.*
50,800   2,178,812
Genmab A/S (Denmark)*
2,583   695,658
Gilead Sciences, Inc.
67,173   9,361,901
Incyte Corp.*
52,500   4,941,300
Neurocrine Biosciences, Inc.*
28,800   3,794,112
Regeneron Pharmaceuticals, Inc.(a)
13,916   10,752,058
Swedish Orphan Biovitrum AB (Sweden)*
18,242   764,531
United Therapeutics Corp.*
2,300   1,363,854
Vertex Pharmaceuticals, Inc.*
5,308   2,370,234
            92,553,514
Broadline Retail — 1.2%
Alibaba Group Holding Ltd. (China), ADR
18,092   2,269,822
Amazon.com, Inc.*
533,398   111,090,802
eBay, Inc.
29,000   2,639,580
Macy’s, Inc.
306,300   5,540,967
MercadoLibre, Inc. (Brazil)*
409   707,169
Next PLC (United Kingdom)
8,023   1,355,477
Pan Pacific International Holdings Corp. (Japan)
114,200   696,649
Prosus NV (China)*
56,556   2,618,292
Ryohin Keikaku Co. Ltd. (Japan)
9,600   204,860
Sea Ltd. (Singapore), ADR*
12,000   993,720
            128,117,338
Building Products — 0.3%
A.O. Smith Corp.(a)
16,100   1,061,634
AGC, Inc. (Japan)
13,500   478,271
Assa Abloy AB (Sweden) (Class B Stock)
24,571   888,190
Belimo Holding AG (Switzerland)
567   460,488
Carrier Global Corp.(a)
62,461   3,517,179
Cie de Saint-Gobain SA (France)
32,245   2,669,707
Daikin Industries Ltd. (Japan)
4,400   527,767
Geberit AG (Switzerland)
650   438,770
Johnson Controls International PLC
89,964   11,780,786
Owens Corning
7,600   822,472
Trane Technologies PLC
11,495   4,790,426
            27,435,690
Capital Markets — 1.5%
3i Group PLC (United Kingdom)
36,883   1,202,054
Affiliated Managers Group, Inc.(a)
6,800   1,881,560
Amundi SA (France), 144A
32,626   2,803,807
 
A2
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Capital Markets (cont’d.)
Ares Management Corp. (Class A Stock)(a)
6,373   $695,294
Banco BTG Pactual SA (Brazil), UTS
111,444   1,217,098
Bank of New York Mellon Corp. (The)
141,015   16,728,609
Blackrock, Inc.
7,065   6,794,481
Blackstone, Inc.
38,443   4,420,561
Charles Schwab Corp. (The)
172,262   16,189,183
CME Group, Inc.
9,933   2,933,712
Daiwa Securities Group, Inc. (Japan)
99,400   941,854
Deutsche Bank AG (Germany)
123,052   3,662,038
Deutsche Boerse AG (Germany)
4,554   1,334,073
Futu Holdings Ltd. (Hong Kong), ADR*
15,548   2,126,344
Goldman Sachs Group, Inc. (The)
16,132   13,647,511
Hong Kong Exchanges & Clearing Ltd. (Hong Kong)
27,748   1,399,831
Houlihan Lokey, Inc.
14,553   2,090,102
Huatai Securities Co. Ltd. (China) (Class A Stock)
423,911   1,109,081
Intercontinental Exchange, Inc.
11,100   1,745,808
Japan Exchange Group, Inc. (Japan)
26,500   309,467
Julius Baer Group Ltd. (Switzerland)
5,529   406,680
London Stock Exchange Group PLC (United Kingdom)
29,336   3,464,223
Macquarie Group Ltd. (Australia)
11,918   1,693,033
Moody’s Corp.
5,900   2,573,875
Morgan Stanley
156,583   25,768,864
Morningstar, Inc.
5,600   946,680
MSCI, Inc.
10,000   5,390,100
Nasdaq, Inc.
15,400   1,307,306
Nomura Holdings, Inc. (Japan)
241,000   1,897,643
Northern Trust Corp.
40,200   5,610,714
Partners Group Holding AG (Switzerland)
1,596   1,720,234
Raymond James Financial, Inc.
29,400   4,256,826
S&P Global, Inc.
19,000   8,081,460
SBI Holdings, Inc. (Japan)
34,600   640,666
Singapore Exchange Ltd. (Singapore)
169,900   2,591,848
T. Rowe Price Group, Inc.(a)
52,700   4,750,378
UBS Group AG (Switzerland)
182,992   7,135,479
XP, Inc. (Brazil) (Class A Stock)
61,917   1,178,900
            162,647,377
Chemicals — 0.5%
Air Liquide SA (France)
11,179   2,310,683
Air Products & Chemicals, Inc.
13,411   3,895,761
Asahi Kasei Corp. (Japan)
109,500   1,071,400
Ashland, Inc.
15,500   861,955
Corteva, Inc.
51,300   4,294,323
Dow, Inc.
27,458   1,143,626
DuPont de Nemours, Inc.(a)
90,003   4,122,137
Element Solutions, Inc.
54,600   1,864,044
LANXESS AG (Germany)(a)
38,365   848,213
Linde PLC
30,766   15,252,552
Mitsubishi Chemical Group Corp. (Japan)
339,200   1,983,007
Nippon Paint Holdings Co. Ltd. (Japan)
70,000   438,938
Nitto Denko Corp. (Japan)
23,400   468,099
      Shares   Value
 
Common Stocks (continued)
Chemicals (cont’d.)
Orica Ltd. (Australia)
93,658   $1,316,323
Sherwin-Williams Co. (The)
26,689   8,555,159
Shin-Etsu Chemical Co. Ltd. (Japan)
21,200   863,239
Yara International ASA (Brazil)
79,256   4,632,864
            53,922,323
Commercial Services & Supplies — 0.1%
Brambles Ltd. (Australia)
115,364   1,810,555
Dai Nippon Printing Co. Ltd. (Japan)
101,900   1,856,617
RB Global, Inc. (Canada)(a)
23,200   2,223,720
Republic Services, Inc.
6,517   1,427,353
Securitas AB (Sweden) (Class B Stock)
60,557   1,014,204
Tetra Tech, Inc.(a)
43,200   1,301,184
TOPPAN Holdings, Inc. (Japan)
45,200   1,192,136
Veralto Corp.
51,400   4,544,788
            15,370,557
Communications Equipment — 0.4%
Arista Networks, Inc.*
69,100   8,484,098
Ciena Corp.*
24,600   9,550,458
Cisco Systems, Inc.
196,835   15,272,428
Lumentum Holdings, Inc.*(a)
5,000   3,513,800
Nokia OYJ (Finland)
122,621   983,668
Telefonaktiebolaget LM Ericsson (Sweden) (Class B Stock)(a)
320,499   3,653,764
            41,458,216
Construction & Engineering — 0.2%
ACS Actividades de Construccion y Servicios SA (Spain)
17,772   2,167,391
AECOM
42,200   3,579,404
API Group Corp.*(a)
19,200   777,984
Comfort Systems USA, Inc.
3,000   4,136,970
Eiffage SA (France)
8,884   1,362,518
HOCHTIEF AG (Germany)
4,832   2,197,939
Obayashi Corp. (Japan)
66,500   1,610,661
Shimizu Corp. (Japan)
11,000   197,352
Taisei Corp. (Japan)
14,700   1,522,946
Vinci SA (France)
34,197   5,132,944
            22,686,109
Construction Materials — 0.1%
CRH PLC (XLON)
30,085   3,147,508
CRH PLC (NYSE)
11,800   1,240,416
Holcim AG*
32,453   2,682,628
Vulcan Materials Co.
12,005   3,268,962
            10,339,514
Consumer Finance — 0.3%
Ally Financial, Inc.
131,900   5,174,437
American Express Co.
35,027   10,594,967
Capital One Financial Corp.
56,846   10,370,416
Synchrony Financial
114,300   7,774,686
            33,914,506
Consumer Staples Distribution & Retail — 0.9%
Carrefour SA (France)
87,377   1,617,860
 
A3
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Consumer Staples Distribution & Retail (cont’d.)
Coles Group Ltd. (Australia)
12,933   $196,126
Costco Wholesale Corp.
25,500   25,408,965
Dollar General Corp.(a)
30,400   3,609,392
Dollar Tree, Inc.*(a)
12,000   1,314,120
Jeronimo Martins SGPS SA (Portugal)
40,785   975,224
Koninklijke Ahold Delhaize NV (Netherlands)
97,569   4,543,710
Kroger Co. (The)
24,500   1,772,820
MatsukiyoCocokara & Co. (Japan)
85,700   1,364,029
Sysco Corp.
100,800   7,190,064
Target Corp.
25,300   3,066,360
Tesco PLC (United Kingdom)
718,932   4,518,510
Walmart, Inc.
269,777   33,527,886
Woolworths Group Ltd. (Australia)
85,251   2,152,779
            91,257,845
Containers & Packaging — 0.0%
Ball Corp.
22,400   1,324,064
Crown Holdings, Inc.
8,684   870,571
Packaging Corp. of America
6,726   1,427,392
            3,622,027
Distributors — 0.0%
LKQ Corp.
57,000   1,674,090
Diversified Consumer Services — 0.1%
ADT, Inc.
920,700   6,048,999
Pearson PLC (United Kingdom)
83,978   1,107,155
            7,156,154
Diversified REITs — 0.0%
Covivio SA (France)
15,836   946,414
GPT Group (The) (Australia)
452,913   1,432,578
Mirvac Group (Australia)
748,230   924,485
Stockland (Australia)
586,123   1,759,441
            5,062,918
Diversified Telecommunication Services — 0.5%
AT&T, Inc.(a)
402,647   11,672,737
Comcast Corp. (Class A Stock)
274,514   7,881,297
Deutsche Telekom AG (Germany)
281,317   10,499,669
Elisa OYJ (Finland)
18,986   924,816
HKT Trust & HKT Ltd. (Hong Kong), UTS
156,000   243,781
Koninklijke KPN NV (Netherlands)
156,472   872,117
Proximus SADP (Belgium)
161,129   1,303,687
Singapore Telecommunications Ltd. (Singapore)
135,000   519,807
Telia Co. AB (Sweden)
252,714   1,294,723
Telstra Group Ltd. (Australia)
1,174,142   4,334,473
Verizon Communications, Inc.
342,644   17,200,729
            56,747,836
Electric Utilities — 0.9%
Alliant Energy Corp.
10,512   754,341
American Electric Power Co., Inc.
90,800   11,902,064
Chubu Electric Power Co., Inc. (Japan)
45,400   748,506
Constellation Energy Corp.
6,500   1,815,125
      Shares   Value
 
Common Stocks (continued)
Electric Utilities (cont’d.)
Duke Energy Corp.(a)
17,800   $2,330,732
Elia Group SA/NV (Belgium)
11,456   1,759,632
Endesa SA (Spain)
32,450   1,353,265
Enel SpA (Italy)
1,027,453   11,232,969
Entergy Corp.
30,307   3,405,294
Exelon Corp.
70,800   3,470,616
Iberdrola SA (Spain)
225,708   5,167,397
Kansai Electric Power Co., Inc. (The) (Japan)
65,600   1,090,671
NextEra Energy, Inc.
194,971   18,108,906
NRG Energy, Inc.
18,800   2,747,432
Origin Energy Ltd. (Australia)
76,244   656,092
PG&E Corp.
472,300   8,298,311
Southern Co. (The)
152,131   14,683,684
SSE PLC (United Kingdom)
7,040   243,363
Terna - Rete Elettrica Nazionale (Italy)
141,420   1,617,479
Xcel Energy, Inc.
35,971   2,857,536
            94,243,415
Electrical Equipment — 0.9%
ABB Ltd. (Switzerland)
142,171   11,559,635
AMETEK, Inc.
35,125   7,529,395
Doosan Enerbility Co. Ltd. (South Korea)*
7,618   478,700
Eaton Corp. PLC
27,976   10,006,176
Fuji Electric Co. Ltd. (Japan)
15,006   1,051,201
Fujikura Ltd. (Japan)
101,400   2,788,706
GE Vernova, Inc.
18,598   16,234,194
Generac Holdings, Inc.*
4,048   790,696
HD Hyundai Electric Co. Ltd. (South Korea)
1,963   1,112,409
Legrand SA (France)
15,513   2,410,016
Mitsubishi Electric Corp. (Japan)
158,500   5,184,074
NIDEC Corp. (Japan)
15,800   200,632
nVent Electric PLC
67,100   7,936,588
Prysmian SpA (Italy)
5,630   664,853
Rockwell Automation, Inc.
15,129   5,429,495
Schneider Electric SE
28,543   7,774,588
Siemens Energy AG (Germany)
72,612   12,521,908
Vertiv Holdings Co. (Class A Stock)
13,900   3,483,062
Vestas Wind Systems A/S (Denmark)
48,382   1,459,731
            98,616,059
Electronic Equipment, Instruments & Components — 0.4%
Amphenol Corp. (Class A Stock)
85,752   10,834,765
Avnet, Inc.
37,500   2,310,750
CDW Corp.
6,800   822,936
Cognex Corp.
16,000   783,840
Coherent Corp.*
9,200   2,191,532
Corning, Inc.
29,630   4,028,791
Delta Electronics, Inc. (Taiwan)
32,302   1,456,509
Elite Material Co. Ltd. (Taiwan)
20,143   1,719,134
Halma PLC (United Kingdom)
61,606   3,143,802
Ibiden Co. Ltd. (Japan)
6,000   300,243
Keyence Corp. (Japan)
3,300   1,174,494
Keysight Technologies, Inc.*
31,800   8,979,366
Kyocera Corp. (Japan)
167,500   2,568,369
 
A4
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Electronic Equipment, Instruments & Components (cont’d.)
Littelfuse, Inc.
4,100   $1,391,335
Murata Manufacturing Co. Ltd. (Japan)
49,100   1,101,668
TDK Corp. (Japan)
78,800   1,023,634
Teledyne Technologies, Inc.*
1,328   803,453
            44,634,621
Energy Equipment & Services — 0.2%
Baker Hughes Co.
107,774   6,579,603
TechnipFMC PLC (United Kingdom)
25,684   1,775,535
Tenaris SA
66,640   1,948,041
Weatherford International PLC
68,500   6,478,730
            16,781,909
Entertainment — 0.5%
Netflix, Inc.*
192,700   18,528,105
Nintendo Co. Ltd. (Japan)
58,382   3,332,774
Roku, Inc.*
12,700   1,201,674
Spotify Technology SA*
8,998   4,363,220
Take-Two Interactive Software, Inc.*
4,000   790,000
Walt Disney Co. (The)
288,081   27,765,247
            55,981,020
Financial Services — 1.1%
Banca Mediolanum SpA (Italy)
47,677   965,994
Berkshire Hathaway, Inc. (Class B Stock)*
69,700   33,400,240
Edenred SE (France)
30,278   603,105
Fidelity National Information Services, Inc.
179,900   8,439,109
Fiserv, Inc.*
57,200   3,191,760
Global Payments, Inc.
12,500   841,250
Industrivarden AB (Sweden) (Class A Stock)
5,369   267,409
Industrivarden AB (Sweden) (Class C Stock)(a)
55,407   2,746,453
Investor AB (Sweden) (Class B Stock)
66,696   2,526,093
Mastercard, Inc. (Class A Stock)
72,366   36,158,396
ORIX Corp. (Japan)
99,800   2,961,202
Visa, Inc. (Class A Stock)
69,658   21,053,434
            113,154,445
Food Products — 0.4%
Conagra Brands, Inc.
175,400   2,757,288
Darling Ingredients, Inc.*
53,000   3,278,050
General Mills, Inc.
194,700   7,246,734
Ingredion, Inc.
30,100   3,391,066
J.M. Smucker Co. (The)
13,100   1,263,364
Magnum Ice Cream Co. NV (The) (Netherlands)*
16,879   248,387
Mondelez International, Inc. (Class A Stock)
74,613   4,300,694
Nestle SA
114,068   11,189,050
Orkla ASA (Norway)
124,350   1,564,899
WH Group Ltd. (Hong Kong), 144A
2,635,500   3,464,199
Yamazaki Baking Co. Ltd. (Japan)
71,300   1,593,773
            40,297,504
      Shares   Value
 
Common Stocks (continued)
Gas Utilities — 0.1%
Naturgy Energy Group SA (Spain)
117,548   $3,528,838
Osaka Gas Co. Ltd. (Japan)
50,500   2,045,478
Snam SpA (Italy)
354,999   2,689,272
Tokyo Gas Co. Ltd. (Japan)
5,100   240,190
            8,503,778
Ground Transportation — 0.3%
Canadian National Railway Co. (Canada)
14,247   1,466,383
Canadian Pacific Kansas City Ltd. (Canada)
8,840   695,354
Central Japan Railway Co. (Japan)
18,200   473,222
CSX Corp.
179,400   7,364,370
Norfolk Southern Corp.
288   82,656
Uber Technologies, Inc.*
194,847   14,015,345
Union Pacific Corp.(a)
37,559   9,112,564
West Japan Railway Co. (Japan)
56,146   1,111,720
            34,321,614
Health Care Equipment & Supplies — 0.7%
Abbott Laboratories
95,208   9,775,005
Alcon AG
7,520   568,439
Becton, Dickinson & Co.
5,970   938,663
Boston Scientific Corp.*
139,131   8,730,470
Coloplast A/S (Denmark) (Class B Stock)
3,345   227,858
Edwards Lifesciences Corp.*
59,317   4,750,105
EssilorLuxottica SA (France)
7,852   1,829,713
Fisher & Paykel Healthcare Corp. Ltd. (New Zealand)
105,835   2,294,872
GE HealthCare Technologies, Inc.(a)
22,165   1,577,705
Globus Medical, Inc. (Class A Stock)*
26,200   2,257,392
Hoya Corp. (Japan)
46,300   8,026,588
IDEXX Laboratories, Inc.*
4,500   2,528,505
Intuitive Surgical, Inc.*
11,500   5,301,385
Medtronic PLC
193,898   16,801,262
Olympus Corp. (Japan)
23,100   220,081
Smith & Nephew PLC (United Kingdom)
60,469   958,072
Solventum Corp.*(a)
16,400   1,070,920
Sonova Holding AG (Switzerland)
2,758   628,861
STERIS PLC
5,200   1,149,876
Stryker Corp.
14,309   4,701,794
Sysmex Corp. (Japan)
59,800   521,509
Terumo Corp. (Japan)
89,000   1,195,694
            76,054,769
Health Care Providers & Services — 0.6%
Cardinal Health, Inc.
42,200   8,917,282
Cencora, Inc.
10,526   3,306,638
Centene Corp.*
92,600   3,031,724
Cigna Group (The)
25,239   6,732,503
CVS Health Corp.
154,254   11,078,522
Encompass Health Corp.
8,955   866,217
Fresenius Medical Care AG (Germany)
46,304   2,098,384
Fresenius SE & Co. KGaA (Germany)
36,910   1,915,473
McKesson Corp.
7,200   6,230,592
 
A5
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Health Care Providers & Services (cont’d.)
Quest Diagnostics, Inc.
6,240   $1,222,915
Sonic Healthcare Ltd. (Australia)
80,035   1,137,200
Tenet Healthcare Corp.*
7,500   1,415,325
UnitedHealth Group, Inc.
63,044   17,059,076
            65,011,851
Health Care REITs — 0.1%
Healthcare Realty Trust, Inc.(a)
52,200   886,878
Ventas, Inc.
66,883   5,469,692
Welltower, Inc.
4,800   949,008
            7,305,578
Health Care Technology — 0.0%
M3, Inc. (Japan)
19,800   203,234
Veeva Systems, Inc. (Class A Stock)*
5,500   966,130
            1,169,364
Hotel & Resort REITs — 0.1%
Host Hotels & Resorts, Inc.
310,000   5,939,600
Hotels, Restaurants & Leisure — 0.7%
Amadeus IT Group SA (Spain)
19,824   1,133,552
Aramark
142,900   5,793,166
Aristocrat Leisure Ltd. (Australia)
56,108   1,783,408
Booking Holdings, Inc.
3,560   14,988,739
Chipotle Mexican Grill, Inc.*
242,978   7,777,726
Compass Group PLC (United Kingdom)
150,530   4,199,927
Domino’s Pizza, Inc.
4,665   1,673,755
DoorDash, Inc. (Class A Stock)*
8,549   1,283,632
Evolution AB (Sweden), 144A
7,975   501,216
Expedia Group, Inc.
20,600   4,756,334
Galaxy Entertainment Group Ltd. (Macau)
208,000   940,137
Las Vegas Sands Corp.
15,600   840,528
Lottery Corp. Ltd. (The) (Australia)
129,800   484,745
Marriott International, Inc. (Class A Stock)
3,706   1,212,121
McDonald’s Corp.
53,446   16,610,482
Royal Caribbean Cruises Ltd.(a)
2,900   798,022
Sodexo SA (France)
14,754   757,353
Viking Holdings Ltd.*
79,100   5,812,268
Yum! Brands, Inc.(a)
25,274   3,929,602
            75,276,713
Household Durables — 0.2%
Cairn Homes PLC (Ireland)
580,780   1,428,175
Lennar Corp. (Class A Stock)
21,800   1,893,112
Panasonic Holdings Corp. (Japan)
130,200   2,183,631
Sekisui House Ltd. (Japan)
15,400   345,069
Sony Group Corp. (Japan)
323,400   6,740,541
Toll Brothers, Inc.
42,311   5,774,182
            18,364,710
Household Products — 0.2%
Colgate-Palmolive Co.(a)
95,000   8,096,850
Essity AB (Sweden) (Class B Stock)(a)
18,161   468,060
Henkel AG & Co. KGaA (Germany)
5,033   361,522
      Shares   Value
 
Common Stocks (continued)
Household Products (cont’d.)
Procter & Gamble Co. (The)
82,588   $11,929,011
Reckitt Benckiser Group PLC (United Kingdom)
25,255   1,698,155
            22,553,598
Independent Power & Renewable Electricity Producers — 0.0%
RWE AG (Germany)
48,115   3,237,122
Industrial Conglomerates — 0.3%
3M Co.
46,125   6,698,734
CK Hutchison Holdings Ltd. (United Kingdom)
292,500   2,245,237
Hikari Tsushin, Inc. (Japan)
900   228,970
Hitachi Ltd. (Japan)
189,700   5,564,943
Honeywell International, Inc.
31,600   7,142,548
Jardine Matheson Holdings Ltd. (Indonesia)
11,800   848,222
Keppel Ltd. (Singapore)
96,800   891,744
Siemens AG (Germany)
40,442   9,853,050
Swire Pacific Ltd. (Hong Kong) (Class A Stock)
19,000   207,665
            33,681,113
Industrial REITs — 0.2%
Prologis, Inc.
164,539   21,748,765
Segro PLC (United Kingdom)
159,358   1,366,106
            23,114,871
Insurance — 1.4%
Admiral Group PLC (United Kingdom)
22,446   938,821
Aegon Ltd.
359,008   2,625,507
Ageas SA/NV (Belgium)
13,096   964,036
AIA Group Ltd. (Hong Kong)
503,600   5,595,665
Allianz SE (Germany)
13,617   5,750,713
Allstate Corp. (The)
35,700   7,402,038
American International Group, Inc.
97,200   7,314,300
Aon PLC (Class A Stock)
9,562   3,086,422
Arthur J. Gallagher & Co.(a)
33,030   7,153,637
ASR Nederland NV (Netherlands)
42,251   2,908,848
Assurant, Inc.
15,400   3,354,274
AXA SA (France)
275,551   12,661,999
Axis Capital Holdings Ltd.
19,700   1,997,777
Chubb Ltd.
52,123   16,988,449
Daiichi Life Group, Inc. (Japan)
86,500   797,703
Kemper Corp.
25,600   782,336
Lincoln National Corp.
27,385   972,167
Markel Group, Inc.*
922   1,764,773
Marsh & McLennan Cos., Inc.
57,138   9,910,586
MetLife, Inc.
194,864   13,780,782
MS&AD Insurance Group Holdings, Inc. (Japan)
62,000   1,617,926
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Germany)
9,447   5,966,171
NN Group NV (Netherlands)
56,181   4,387,507
Phoenix Financial Ltd. (Israel)
14,250   760,866
Progressive Corp. (The)
28,726   5,694,642
Prudential PLC (Hong Kong)
197,937   2,751,941
 
A6
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Insurance (cont’d.)
QBE Insurance Group Ltd. (Australia)
406,816   $6,003,286
RenaissanceRe Holdings Ltd. (Bermuda)
5,916   1,758,413
Sompo Holdings, Inc. (Japan)
7,700   299,747
Standard Life PLC (United Kingdom)
107,023   969,256
Swiss Re AG
9,087   1,526,409
Talanx AG (Germany)
20,552   2,550,238
Tokio Marine Holdings, Inc. (Japan)
64,600   3,032,387
Travelers Cos., Inc. (The)
4,622   1,348,145
Unipol Assicurazioni SpA (Italy)
87,852   2,040,817
Zurich Insurance Group AG (Switzerland)
5,129   3,625,272
            151,083,856
Interactive Media & Services — 2.5%
Alphabet, Inc. (Class A Stock)
403,036   115,897,032
Alphabet, Inc. (Class C Stock)
231,583   66,431,900
CAR Group Ltd. (Australia)
19,323   308,460
Diamond Sports Group LLC*(x)
18,991   3,570
LY Corp. (Japan)
610,400   1,471,756
Meta Platforms, Inc. (Class A Stock)
135,744   77,663,215
Scout24 SE (Germany), 144A
14,891   1,148,965
Tencent Holdings Ltd. (China)
27,282   1,720,741
            264,645,639
IT Services — 0.4%
Accenture PLC (Class A Stock)
52,850   10,479,627
Capgemini SE (France)
20,642   2,435,725
Cognizant Technology Solutions Corp. (Class A Stock)
136,000   8,343,600
Fujitsu Ltd. (Japan)
84,700   1,732,171
GoDaddy, Inc. (Class A Stock)*
15,600   1,289,652
International Business Machines Corp.
46,523   11,276,710
MongoDB, Inc.*
12,600   3,084,102
NEC Corp. (Japan)
88,300   2,197,177
Nomura Research Institute Ltd. (Japan)
14,100   385,884
Obic Co. Ltd. (Japan)
42,100   1,021,828
Otsuka Corp. (Japan)
100,100   1,916,385
Shopify, Inc. (Canada) (Class A Stock)*
17,118   2,030,537
TIS, Inc. (Japan)
57,700   1,233,708
            47,427,106
Leisure Products — 0.0%
Bandai Namco Holdings, Inc. (Japan)
39,000   962,146
Brunswick Corp.(a)
11,500   836,740
Hasbro, Inc.
35,700   3,341,520
            5,140,406
Life Sciences Tools & Services — 0.2%
Agilent Technologies, Inc.
12,400   1,413,352
Danaher Corp.
77,940   14,777,424
Eurofins Scientific SE (Luxembourg)
4,685   341,860
Lonza Group AG (Switzerland)
1,494   958,429
Thermo Fisher Scientific, Inc.
11,300   5,554,289
West Pharmaceutical Services, Inc.
10,800   2,706,912
            25,752,266
      Shares   Value
 
Common Stocks (continued)
Machinery — 1.1%
Alstom SA (France)*
114,833   $3,284,020
Atlas Copco AB (Sweden) (Class A Stock)
44,643   787,807
Atlas Copco AB (Sweden) (Class B Stock)
78,935   1,233,933
Caterpillar, Inc.
27,477   19,466,355
Crane Co.
41,800   7,147,800
Cummins, Inc.
17,900   9,630,558
Daifuku Co. Ltd. (Japan)
13,000   459,018
Daimler Truck Holding AG (Germany)
7,334   361,169
Deere & Co.
18,483   10,411,474
Dover Corp.
15,977   3,330,406
Ebara Corp. (Japan)
9,000   254,773
Epiroc AB (Sweden) (Class A Stock)
8,591   211,483
Epiroc AB (Sweden) (Class B Stock)
21,510   460,778
FANUC Corp. (Japan)
36,500   1,272,278
Fortive Corp.(a)
15,300   845,784
HD Hyundai Heavy Industries Co. Ltd. (South Korea)
1,689   541,021
IHI Corp. (Japan)
23,000   474,559
Kubota Corp. (Japan)
135,000   2,163,400
Lincoln Electric Holdings, Inc.
13,300   3,312,764
Makita Corp. (Japan)
20,200   663,901
Metso OYJ (Finland)
150,545   2,608,990
MINEBEA MITSUMI, Inc. (Japan)
94,300   1,565,860
Mitsubishi Heavy Industries Ltd. (Japan)
159,200   4,374,284
Nordson Corp.
6,292   1,674,050
Parker-Hannifin Corp.
18,935   16,951,369
Sandvik AB (Sweden)
146,510   5,632,116
Schindler Holding AG (Switzerland)
1,170   368,494
SMC Corp. (Japan)
4,700   1,848,502
Toro Co. (The)
29,800   2,784,512
VAT Group AG (Switzerland), 144A
2,054   1,281,371
Volvo AB (Sweden) (Class B Stock)
10,963   360,456
Wartsila OYJ Abp (Finland)
70,631   2,630,863
Xylem, Inc.
19,225   2,297,388
Yangzijiang Shipbuilding Holdings Ltd. (China)
529,800   1,573,713
            112,265,249
Marine Transportation — 0.0%
AP Moller - Maersk A/S (Class A Stock)
130   318,309
AP Moller - Maersk A/S (Class B Stock)(a)
235   587,002
Nippon Yusen KK (Japan)(a)
30,800   1,131,431
SITC International Holdings Co. Ltd. (China)
536,000   2,346,889
            4,383,631
Media — 0.1%
Fox Corp. (Class A Stock)(a)
25,900   1,512,560
Omnicom Group, Inc.(a)
12,800   963,968
Publicis Groupe SA (France)
18,766   1,553,252
Sirius XM Holdings, Inc.
139,200   3,212,736
Versant Media Group, Inc.*
76,400   2,828,328
 
A7
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Media (cont’d.)
WPP PLC (United Kingdom)
267,001   $835,038
            10,905,882
Metals & Mining — 0.7%
Agnico Eagle Mines Ltd. (Canada)(a)
7,333   1,488,452
Anglo American PLC (South Africa)
20,808   893,404
Antofagasta PLC (Chile)
40,058   1,796,380
ArcelorMittal SA (Luxembourg)
21,511   1,115,593
BHP Group Ltd. (Australia)
294,187   10,644,428
Boliden AB (Sweden)*
14,588   764,730
CMOC Group Ltd. (China) (Class H Stock)
524,510   1,103,129
Endeavour Mining PLC (Ivory Coast) (TSX)
14,767   885,426
Endeavour Mining PLC (Ivory Coast) (XLON)
9,471   570,626
Evolution Mining Ltd. (Australia)
263,174   2,369,806
Fortescue Ltd. (Australia)
178,233   2,546,878
Freeport-McMoRan, Inc.
158,100   9,293,118
Fresnillo PLC (Mexico)
36,824   1,632,261
Glencore PLC (Australia)*
910,503   6,896,035
JFE Holdings, Inc. (Japan)
82,500   965,849
JX Advanced Metals Corp. (Japan)
83,200   1,844,029
Lynas Rare Earths Ltd. (Australia)*
80,498   1,092,959
Newmont Corp.
61,200   6,624,900
Nippon Steel Corp. (Japan)(a)
120,800   445,455
Northern Star Resources Ltd. (Australia)
59,588   866,218
Nucor Corp.
39,800   6,730,180
Rio Tinto Ltd. (Australia)
16,646   1,891,212
Rio Tinto PLC (Australia)
64,571   5,990,492
South32 Ltd. (Australia)
139,480   422,346
Sumitomo Metal Mining Co. Ltd. (Japan)
9,200   535,469
Vale SA (Brazil), ADR
90,996   1,447,746
Valterra Platinum Ltd. (South Africa)
2,418   198,674
            71,055,795
Multi-Utilities — 0.4%
CenterPoint Energy, Inc.
88,635   3,825,487
CMS Energy Corp.
49,611   3,848,821
Dominion Energy, Inc.
48,463   2,995,983
DTE Energy Co.
15,000   2,193,300
E.ON SE (Germany)
262,001   5,738,207
Engie SA (France)
174,242   5,615,376
National Grid PLC (United Kingdom)
169,650   2,863,708
NiSource, Inc.
96,924   4,522,474
Public Service Enterprise Group, Inc.
10,795   873,855
Sempra
95,200   9,250,584
            41,727,795
Office REITs — 0.0%
Gecina SA (France)
9,113   719,028
Oil, Gas & Consumable Fuels — 1.9%
Aker BP ASA (Norway)
19,548   722,669
Antero Midstream Corp.
230,100   5,246,280
BP PLC
396,284   3,101,637
      Shares   Value
 
Common Stocks (continued)
Oil, Gas & Consumable Fuels (cont’d.)
Cameco Corp. (Canada)(a)
9,965   $1,082,299
Cenovus Energy, Inc. (Canada)
161,809   4,294,435
Cheniere Energy, Inc.
20,488   5,813,675
Chevron Corp.
125,338   25,932,432
ConocoPhillips
183,081   24,166,692
Devon Energy Corp.
101,900   5,127,608
ENEOS Holdings, Inc. (Japan)
428,000   3,856,338
Eni SpA (Italy)
168,077   4,779,066
EOG Resources, Inc.
41,460   5,993,872
EQT Corp.
15,545   989,284
Equinor ASA (Norway)
8,313   354,170
Exxon Mobil Corp.
240,413   40,788,470
Galp Energia SGPS SA (Portugal)
92,585   2,219,966
HF Sinclair Corp.
13,200   823,548
Idemitsu Kosan Co. Ltd. (Japan)
120,900   1,186,938
Inpex Corp. (Japan)
46,200   1,366,573
LUKOIL PJSC (Russia), ADR*^(a)
15,069   1
Marathon Petroleum Corp.
10,400   2,539,472
Neste OYJ (Finland)
13,920   452,366
Ovintiv, Inc.
15,200   902,272
Phillips 66
41,500   7,560,470
Repsol SA (Spain)
30,102   847,325
Shell PLC
450,053   20,844,224
Shell PLC, ADR(a)
107,902   10,034,886
TotalEnergies SE (France)
98,482   9,038,100
Valero Energy Corp.
8,756   2,163,432
Williams Cos., Inc. (The)
142,916   10,401,426
Woodside Energy Group Ltd. (Australia)
83,320   1,977,811
            204,607,737
Passenger Airlines — 0.1%
Delta Air Lines, Inc.
33,200   2,207,136
Deutsche Lufthansa AG (Germany)
112,121   954,798
International Consolidated Airlines Group SA (United Kingdom)
302,878   1,437,554
Japan Airlines Co. Ltd. (Japan)
28,600   466,935
Qantas Airways Ltd. (Australia)
406,066   2,385,334
Ryanair Holdings PLC (Italy)
9,575   269,554
United Airlines Holdings, Inc.*(a)
46,000   4,235,220
            11,956,531
Personal Care Products — 0.2%
Estee Lauder Cos., Inc. (The) (Class A Stock)
23,110   1,658,605
Kao Corp. (Japan)
27,600   1,078,581
L’Oreal SA (France)
13,907   5,678,096
Shiseido Co. Ltd. (Japan)
84,000   1,716,140
Unilever PLC (United Kingdom) (XLON)
69,852   3,834,832
Unilever PLC (United Kingdom) (XAMS)
48,446   2,735,242
Unilever PLC (United Kingdom), ADR
25,361   1,444,816
            18,146,312
Pharmaceuticals — 2.0%
Astellas Pharma, Inc. (Japan)
219,800   3,583,139
 
A8
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Pharmaceuticals (cont’d.)
AstraZeneca PLC (United Kingdom) (XLON)
84,779   $16,577,685
AstraZeneca PLC (United Kingdom) (NYSE)
7,019   1,384,287
Bayer AG (Germany)
70,874   3,279,923
Bristol-Myers Squibb Co.
82,104   4,979,608
Chugai Pharmaceutical Co. Ltd. (Japan)
25,100   1,384,227
Daiichi Sankyo Co. Ltd. (Japan)
55,400   991,143
Elanco Animal Health, Inc.*
32,583   779,711
Eli Lilly & Co.
51,430   47,303,771
Galderma Group AG (Switzerland)
27,641   5,432,391
GSK PLC
180,852   4,981,655
Haleon PLC
266,209   1,317,467
Hikma Pharmaceuticals PLC (United Kingdom)
17,952   301,519
Ipsen SA (France)
8,465   1,581,970
Johnson & Johnson
147,643   36,089,855
Kyowa Kirin Co. Ltd. (Japan)
27,500   450,066
Merck & Co., Inc.
151,803   18,260,383
Novartis AG
86,625   13,296,456
Novo Nordisk A/S (Denmark) (Class B Stock)
156,658   5,732,821
Orion OYJ (Finland) (Class B Stock)
19,606   1,584,685
Otsuka Holdings Co. Ltd. (Japan)
4,000   283,883
Pfizer, Inc.
345,300   9,696,024
Roche Holding AG
35,206   14,050,392
Roche Holding AG, ADR
18,701   929,627
Sandoz Group AG (Switzerland)
25,763   2,018,554
Sanofi SA
101,720   9,823,083
Shionogi & Co. Ltd. (Japan)
66,600   1,473,255
Takeda Pharmaceutical Co. Ltd. (Japan)
100,600   3,704,886
Teva Pharmaceutical Industries Ltd. (Israel), ADR*
29,000   873,480
UCB SA (Belgium)
12,165   3,665,275
            215,811,221
Professional Services — 0.2%
Booz Allen Hamilton Holding Corp.
18,800   1,466,964
Clarivate PLC*(a)
2,063,900   5,221,667
Computershare Ltd. (Australia)
77,607   1,530,602
Concentrix Corp.(a)
107,000   2,927,520
Genpact Ltd.
28,800   1,072,800
Jacobs Solutions, Inc.
14,700   1,871,016
ManpowerGroup, Inc.
98,600   2,904,756
Recruit Holdings Co. Ltd. (Japan)
64,800   2,823,334
RELX PLC (United Kingdom)
30,133   987,228
Teleperformance SE (France)
14,688   863,109
            21,668,996
Real Estate Management & Development — 0.2%
CBRE Group, Inc. (Class A Stock)*
6,900   934,674
CK Asset Holdings Ltd. (Hong Kong)
81,000   463,465
Daito Trust Construction Co. Ltd. (Japan)
51,100   1,197,487
      Shares   Value
 
Common Stocks (continued)
Real Estate Management & Development (cont’d.)
Daiwa House Industry Co. Ltd. (Japan)(a)
88,100   $2,763,958
Jones Lang LaSalle, Inc.*
26,500   8,064,480
LEG Immobilien SE (Germany)
29,385   1,919,480
Mitsubishi Estate Co. Ltd. (Japan)
10,800   299,770
Mitsui Fudosan Co. Ltd. (Japan)
63,000   671,608
Sun Hung Kai Properties Ltd. (Hong Kong)
45,500   757,613
Swiss Prime Site AG (Switzerland)
2,625   444,460
Vonovia SE (Germany)
111,304   2,783,984
            20,300,979
Residential REITs — 0.1%
AvalonBay Communities, Inc.(a)
3,484   569,111
Camden Property Trust
35,765   3,492,810
Equity Residential
13,600   804,440
Invitation Homes, Inc.
60,100   1,493,485
            6,359,846
Retail REITs — 0.1%
Klepierre SA (France)
26,656   1,000,724
Realty Income Corp.(a)
43,000   2,630,740
Scentre Group (Australia)
608,993   1,405,147
Unibail-Rodamco-Westfield (France)
11,478   1,266,317
Vicinity Ltd. (Australia)
782,361   1,276,337
            7,579,265
Semiconductors & Semiconductor Equipment — 5.0%
Advanced Micro Devices, Inc.*
64,744   13,170,872
Advantest Corp. (Japan)
71,272   9,836,011
Analog Devices, Inc.
50,534   16,076,887
Applied Materials, Inc.
39,679   13,561,885
ASM International NV (Netherlands)
6,231   4,722,804
ASML Holding NV (Netherlands) (XAMS)
18,167   24,157,689
ASML Holding NV (Netherlands) (XNGS)
5,606   7,404,573
BE Semiconductor Industries NV (Netherlands)
2,346   502,499
Broadcom, Inc.
284,300   87,993,693
Disco Corp. (Japan)
3,500   1,426,542
Infineon Technologies AG (Germany)
35,563   1,613,356
Intel Corp.*
82,400   3,636,312
Jentech Precision Industrial Co. Ltd. (Taiwan)
2,965   372,815
Kioxia Holdings Corp. (Japan)*
17,600   2,298,562
KLA Corp.
3,338   4,914,905
Lam Research Corp.
117,891   25,188,591
Lasertec Corp. (Japan)
1,700   378,375
Marvell Technology, Inc.
41,500   4,110,575
Microchip Technology, Inc.
88,900   5,743,829
Micron Technology, Inc.
86,993   29,389,715
Nova Ltd. (Israel)*
1,688   745,435
NVIDIA Corp.
1,318,516   229,949,190
NXP Semiconductors NV (Netherlands)(a)
36,490   7,183,421
QUALCOMM, Inc.
39,200   5,048,176
 
A9
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Semiconductors & Semiconductor Equipment (cont’d.)
Renesas Electronics Corp. (Japan)
106,400   $1,521,225
SK hynix, Inc. (South Korea)
7,484   4,246,161
STMicroelectronics NV (Singapore)
60,988   2,075,337
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan), ADR
36,200   12,233,790
Teradyne, Inc.
24,800   7,352,208
Texas Instruments, Inc.
35,989   6,986,904
Tokyo Electron Ltd. (Japan)
18,500   4,596,343
            538,438,680
Software — 2.5%
Adobe, Inc.*
45,200   10,987,216
AppLovin Corp. (Class A Stock)*
11,392   4,534,016
Autodesk, Inc.*
43,200   10,342,080
Cadence Design Systems, Inc.*
9,200   2,556,404
Check Point Software Technologies Ltd. (Israel)*(a)
13,300   1,899,905
Fortinet, Inc.*(a)
55,900   4,568,148
Gen Digital, Inc.
125,700   2,366,931
Intuit, Inc.(a)
30,736   13,289,632
Microsoft Corp.
431,105   159,582,138
Nebius Group NV (Netherlands)*
10,654   1,105,459
Nice Ltd. (Israel)*
5,855   646,442
Oracle Corp.
85,629   12,596,882
Oracle Corp. (Japan)
3,400   185,108
Palantir Technologies, Inc. (Class A Stock)*
50,800   7,431,024
Roper Technologies, Inc.
8,800   3,113,968
Salesforce, Inc.(a)
37,600   7,018,792
SAP SE (Germany)
41,561   7,085,429
ServiceNow, Inc.*
55,520   5,804,616
Teradata Corp.*(a)
48,400   1,240,492
Trend Micro, Inc. (Japan)
21,300   710,069
Zoom Communications, Inc.*
85,800   6,897,462
            263,962,213
Specialized REITs — 0.2%
American Tower Corp.
51,205   8,836,959
Equinix, Inc.
1,600   1,568,384
Gaming & Leisure Properties, Inc.
73,925   3,280,052
Iron Mountain, Inc.(a)
13,000   1,327,820
Public Storage(a)
9,000   2,437,920
VICI Properties, Inc.
289,900   7,920,068
            25,371,203
Specialty Retail — 0.8%
AutoNation, Inc.*
26,800   5,232,968
AutoZone, Inc.*
924   3,121,069
Avolta AG (Switzerland)*
7,825   469,159
Best Buy Co., Inc.
12,800   821,760
Fast Retailing Co. Ltd. (Japan)
8,200   3,239,873
Five Below, Inc.*
18,907   4,319,871
Home Depot, Inc. (The)
34,373   11,304,936
Industria de Diseno Textil SA (Spain)
110,743   6,446,216
JD Sports Fashion PLC (United Kingdom)
752,830   714,028
Kingfisher PLC (United Kingdom)
676,034   2,570,509
      Shares   Value
 
Common Stocks (continued)
Specialty Retail (cont’d.)
Lowe’s Cos., Inc.(a)
83,767   $19,792,467
Ross Stores, Inc.
51,398   11,134,349
TJX Cos., Inc. (The)
71,359   11,396,032
Ulta Beauty, Inc.*(a)
6,800   3,554,428
            84,117,665
Technology Hardware, Storage & Peripherals — 2.3%
Apple, Inc.
836,936   212,405,987
Canon, Inc. (Japan)
39,100   1,084,921
Dell Technologies, Inc. (Class C Stock)(a)
26,145   4,291,179
FUJIFILM Holdings Corp. (Japan)
35,600   678,381
Hewlett Packard Enterprise Co.(a)
125,718   2,993,346
Logitech International SA (Switzerland)
14,240   1,322,391
Samsung Electronics Co. Ltd. (South Korea)
33,555   3,924,639
Sandisk Corp.*
8,300   5,273,322
Seagate Technology Holdings PLC
5,300   2,076,328
Western Digital Corp.
46,540   12,588,605
            246,639,099
Textiles, Apparel & Luxury Goods — 0.3%
Amer Sports, Inc. (Finland)*
39,500   1,300,340
Asics Corp. (Japan)
168,400   4,527,454
Brunello Cucinelli SpA (Italy)(a)
23,205   2,027,982
Cie Financiere Richemont SA (Switzerland) (Class A Stock)
52,318   9,237,587
Deckers Outdoor Corp.*(a)
13,800   1,381,242
Hermes International SCA (France)
1,444   2,735,444
LVMH Moet Hennessy Louis Vuitton SE (France)
9,199   5,028,630
Moncler SpA (Italy)
27,625   1,663,261
NIKE, Inc. (Class B Stock)
6,715   354,686
Pandora A/S (Denmark)
8,658   618,821
Ralph Lauren Corp.
15,513   5,336,317
Tapestry, Inc.
21,000   2,963,310
            37,175,074
Tobacco — 0.3%
British American Tobacco PLC (United Kingdom)
107,973   6,268,786
Imperial Brands PLC (United Kingdom)
136,935   5,552,415
Japan Tobacco, Inc. (Japan)
27,900   1,070,352
Philip Morris International, Inc.
98,044   16,210,595
            29,102,148
Trading Companies & Distributors — 0.4%
AerCap Holdings NV (Ireland)
20,500   2,812,190
Ferguson Enterprises, Inc.
7,312   1,702,585
ITOCHU Corp. (Japan)
337,000   4,286,806
Marubeni Corp. (Japan)
64,700   2,366,852
Mitsubishi Corp. (Japan)
261,300   8,964,150
Mitsui & Co. Ltd. (Japan)
114,300   4,418,000
Rexel SA (France)
7,046   279,205
Sumitomo Corp. (Japan)
48,700   1,822,309
Sunbelt Rentals Holdings, Inc.
17,602   1,122,855
Toyota Tsusho Corp. (Japan)
18,300   709,249
 
A10
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
      Shares   Value
 
Common Stocks (continued)
Trading Companies & Distributors (cont’d.)
United Rentals, Inc.
5,083   $3,703,270
W.W. Grainger, Inc.
2,700   2,945,187
WESCO International, Inc.(a)
16,500   4,514,730
            39,647,388
Transportation Infrastructure — 0.0%
Aena SME SA (Spain), 144A
58,927   1,743,380
Transurban Group (Australia), UTS
129,014   1,258,511
            3,001,891
Wireless Telecommunication Services — 0.2%
Airtel Africa PLC (Nigeria), 144A
365,056   1,683,398
KDDI Corp. (Japan)
100,900   1,717,997
SoftBank Group Corp. (Japan)
258,032   6,283,015
Tele2 AB (Sweden) (Class B Stock)
73,041   1,511,765
Vodafone Group PLC (United Kingdom)
3,906,121   5,891,806
            17,087,981
 
Total Common Stocks

(cost $4,022,322,019)
  4,793,521,320
Preferred Stocks — 0.1%
Automobiles — 0.0%
Bayerische Motoren Werke AG (Germany) (PRFC)
2,550   234,733
Porsche Automobil Holding SE (Germany) (PRFC)
8,784   321,645
Volkswagen AG (Germany) (PRFC)
10,226   1,046,043
            1,602,421
Banks — 0.0%
Citigroup, Inc., Series II, 6.250%, Maturing 02/15/31(oo)
15,081   371,747
Household Products — 0.1%
Henkel AG & Co. KGaA (Germany) (PRFC)
34,757   2,684,950
Insurance — 0.0%
MetLife, Inc., Series E, 5.625%, Maturing 04/30/26(oo)
4,309   96,694
Life Sciences Tools & Services — 0.0%
Sartorius AG (Germany) (PRFC)(a)
10,446   2,613,764
 
Total Preferred Stocks

(cost $7,656,514)
  7,369,576
Unaffiliated Exchange-Traded Funds — 13.8%
Dimensional Core Fixed Income ETF
1,160,825   49,010,031
Dimensional International Core Equity Market ETF
2,169,480   84,522,941
Dimensional US Equity Market ETF
9,280,237   658,061,606
iShares Core MSCI EAFE ETF
450,310   40,766,564
iShares Core S&P 500 ETF
126,679   82,747,990
iShares JP Morgan USD Emerging Markets Bond ETF
111,987   10,518,939
iShares MSCI EAFE ETF
238,375   23,153,364
iShares Russell 1000 Growth ETF
205,482   87,617,525
      Shares   Value
 
Unaffiliated Exchange-Traded Funds (continued)
iShares Russell 1000 Value ETF
1,143,808   $244,397,455
SPDR Gold MiniShares Trust*
210,124   19,476,393
Vanguard Dividend Appreciation ETF
782,383   168,259,288
 
Total Unaffiliated Exchange-Traded Funds

(cost $1,422,078,787)
  1,468,532,096
    
      Units  
Warrants* — 0.0%
Interactive Media & Services
Diamond Sports Group LLC, expiring 06/30/26(x)
35,519 —
(cost $0)    
    
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		 
Asset-Backed Securities — 2.4%
Automobiles — 0.1%
American Credit Acceptance Receivables Trust,
Series 2026-01, Class C, 144A
4.550%   01/12/33     358 356,854
Series 2026-01, Class D, 144A
5.100%   01/12/33     330 327,548
Avis Budget Rental Car Funding AESOP LLC,
Series 2024-03A, Class A, 144A
5.230%   12/20/30     300 304,967
Bridgecrest Lending Auto Securitization Trust,
Series 2025-04, Class C
4.800%   08/15/31     65 64,849
Series 2025-04, Class D
5.410%   08/15/31     70 70,119
Series 2026-01, Class C
4.440%   11/17/31     148 146,760
Series 2026-01, Class D
4.990%   11/17/31     186 183,891
Enterprise Fleet Financing LLC,
Series 2024-01, Class A2, 144A
5.230%   03/20/30     210 210,872
Exeter Automobile Receivables Trust,
Series 2021-03A, Class D
1.550%   06/15/27     167 165,665
Series 2026-01A, Class C
4.400%   05/17/32     144 142,173
Series 2026-01A, Class D
5.000%   05/17/32     280 277,220
Ford Credit Auto Owner Trust,
Series 2023-02, Class D, 144A
6.600%   02/15/36     300 308,852
Ford Credit Floorplan Master Owner Trust,
Series 2023-01, Class A1, 144A
4.920%   05/15/28     500 500,614
GLS Auto Receivables Issuer Trust,
Series 2025-04A, Class C, 144A
4.740%   08/15/31     187 186,014
 
A11
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Automobiles (cont’d.)
Santander Drive Auto Receivables Trust,
Series 2023-06, Class B
5.980%   04/16/29     100   $100,980
Series 2025-03, Class C
4.680%   09/15/31     109   109,155
Series 2026-01, Class C
4.260%   04/15/32     247   243,789
              3,700,322
Collateralized Loan Obligations — 2.3%
Anchorage Capital CLO Ltd. (Cayman Islands),
Series 2019-11A, Class AR2, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%)
5.199%(c)   07/22/37     11,750   11,748,058
Apidos CLO,
Series 2018-18A, Class A1R2, 144A, 3 Month SOFR + 1.330% (Cap N/A, Floor 1.330%)
4.999%(c)   01/22/38     10,500   10,502,377
Ares European CLO DAC (Ireland),
Series 11A, Class A1R, 144A, 3 Month EURIBOR + 0.770% (Cap N/A, Floor 0.770%)
2.786%(c)   04/15/32   EUR 1,676   1,937,799
Series 21A, Class A, 144A, 3 Month EURIBOR + 1.220% (Cap N/A, Floor 1.220%)
3.236%(c)   04/15/38   EUR 250   288,118
Atlas Senior Loan Fund Ltd. (United Kingdom),
Series 2024-23A, Class A1, 144A, 3 Month SOFR + 1.530% (Cap N/A, Floor 1.530%)
5.198%(c)   07/20/37     16,000   15,995,706
Avoca CLO DAC (Ireland),
Series 32A, Class A1, 144A, 3 Month EURIBOR + 1.170% (Cap N/A, Floor 1.170%)
3.186%(c)   04/15/39   EUR 346   397,985
Bain Capital Credit CLO Ltd. (United Kingdom),
Series 2022-05A, Class ARR, 144A, 3 Month SOFR + 1.140% (Cap N/A, Floor 1.140%)
4.808%(c)   01/24/37     7,650   7,628,670
Balboa Bay Loan Funding Ltd. (Cayman Islands),
Series 2024-01A, Class A1, 144A, 3 Month SOFR + 1.510% (Cap N/A, Floor 1.510%)
5.178%(c)   07/20/37     14,000   13,995,884
Contego CLO DAC (Ireland),
Series 05A, Class AR, 144A, 3 Month EURIBOR + 1.200% (Cap N/A, Floor 1.200%)
3.216%(c)   10/15/37   EUR 10,600   12,219,546
CQS US CLO Ltd. (United Kingdom),
Series 2023-03A, Class A1, 144A, 3 Month SOFR + 1.890% (Cap N/A, Floor 1.890%)
5.558%(c)   01/25/37     8,000   8,003,118
Elmwood CLO Ltd. (Cayman Islands),
Series 2024-12RA, Class BR, 144A, 3 Month SOFR + 1.700% (Cap N/A, Floor 1.700%)
5.368%(c)   10/20/37     10,000   9,993,801
Fidelity Grand Harbour CLO DAC (Ireland),
Series 2021-01A, Class A, 144A, 3 Month EURIBOR + 1.000% (Cap N/A, Floor 1.000%)
3.016%(c)   10/15/34   EUR 4,250   4,909,441
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Greywolf CLO Ltd. (Cayman Islands),
Series 2013-01A, Class A1SR, 144A, 3 Month SOFR + 1.400% (Cap N/A, Floor 1.140%)
5.072%(c)   04/15/34     1,848   $1,848,053
Series 2018-02A, Class A1, 144A, 3 Month SOFR + 1.442% (Cap N/A, Floor 1.442%)
5.109%(c)   10/20/31     3   3,340
ICG Euro CLO DAC (Ireland),
Series 2023-01A, Class AR, 144A, 3 Month EURIBOR + 1.250% (Cap N/A, Floor 1.250%)
3.276%(c)   10/19/38   EUR 10,000   11,529,531
Invesco Euro CLO DAC (Ireland),
Series 01A, Class A1R, 144A, 3 Month EURIBOR + 0.650% (Cap N/A, Floor 0.650%)
2.666%(c)   07/15/31   EUR 923   1,064,936
Series 03A, Class BR, 144A, 3 Month EURIBOR + 2.000% (Cap N/A, Floor 2.000%)
4.026%(c)   10/30/38   EUR 8,500   9,756,609
Kennedy Lewis CLO Ltd. (Cayman Islands),
Series 07A, Class A1R, 144A, 3 Month SOFR + 1.620% (Cap N/A, Floor 1.620%)
5.289%(c)   04/22/37     17,750   17,755,875
Madison Park Euro Funding DAC (Ireland),
Series 23A, Class A, 144A, 3 Month EURIBOR + 1.230% (Cap N/A, Floor 1.230%)
3.763%(c)   04/15/40   EUR 364   418,802
Mountain View CLO Ltd. (Cayman Islands),
Series 2013-01A, Class ARR, 144A, 3 Month SOFR + 1.262% (Cap N/A, Floor 1.000%)
4.911%(c)   10/12/30     164   163,912
Nassau Euro CLO DAC (Ireland),
Series 04A, Class A1R, 144A, 3 Month EURIBOR + 1.220% (Cap N/A, Floor 1.220%)
3.246%(c)   07/20/38   EUR 8,000   9,203,793
NGC Ltd. (United Kingdom),
Series 2024-01A, Class B, 144A, 3 Month SOFR + 2.100% (Cap N/A, Floor 2.100%)
5.768%(c)   07/20/37     5,750   5,761,522
Northwoods Capital Ltd. (Cayman Islands),
Series 2018-11BA, Class A1R, 144A, 3 Month SOFR + 1.450% (Cap N/A, Floor 1.450%)
5.118%(c)   07/19/37     10,000   10,003,277
Oaktree CLO Ltd. (Cayman Islands),
Series 2019-04A, Class BRR, 144A, 3 Month SOFR + 1.920% (Cap N/A, Floor 1.920%)
5.588%(c)   07/20/37     8,000   8,012,002
Palmer Square European CLO DAC (Ireland),
Series 2022-02A, Class ARR, 144A, 3 Month EURIBOR + 1.390% (Cap N/A, Floor 1.390%)
3.406%(c)   01/15/38   EUR 8,000   9,237,990
Series 2025-02A, Class A, 144A, 3 Month EURIBOR + 1.350% (Cap N/A, Floor 1.350%)
3.366%(c)   07/15/38   EUR 250   288,922
Series 2026-01A, Class A, 144A, 3 Month EURIBOR + 1.230% (Cap N/A, Floor 1.230%)
3.399%(c)   04/15/39   EUR 250   287,898
 
A12
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Collateralized Loan Obligations (cont’d.)
Parallel Ltd. (Cayman Islands),
Series 2020-01A, Class A2R, 144A, 3 Month SOFR + 2.112% (Cap N/A, Floor 1.850%)
5.779%(c)   07/20/34     588   $586,014
Ravensdale Park CLO DAC (Ireland),
Series 01A, Class A, 144A, 3 Month EURIBOR + 1.170% (Cap N/A, Floor 1.170%)
3.200%(c)   04/25/38   EUR 251   288,581
Regatta Funding Ltd. (Cayman Islands),
Series 2024-03A, Class A, 144A, 3 Month SOFR + 1.380% (Cap N/A, Floor 1.380%)
5.052%(c)   09/06/37     19,000   19,008,123
Rockford Tower CLO Ltd. (Cayman Islands),
Series 2018-02A, Class A, 144A, 3 Month SOFR + 1.422% (Cap N/A, Floor 1.160%)
5.089%(c)   10/20/31     460   460,359
RRE Loan Management DAC (Ireland),
Series 24A, Class A1, 144A, 3 Month EURIBOR + 1.160% (Cap N/A, Floor 1.160%)
3.176%(c)   04/15/40   EUR 350   402,330
Symphony CLO Ltd. (Cayman Islands),
Series 2018-19A, Class A, 144A, 3 Month SOFR + 1.222% (Cap N/A, Floor 0.960%)
4.893%(c)   04/16/31     45   44,693
Tikehau CLO DAC (Ireland),
Series 13A, Class A, 144A, 3 Month EURIBOR + 1.190% (Cap N/A, Floor 1.190%)
3.206%(c)   10/15/38   EUR 7,450   8,567,119
Toro European CLO DAC (Ireland),
Series 09A, Class A, 144A, 3 Month EURIBOR + 1.650% (Cap N/A, Floor 1.650%)
3.666%(c)   04/15/37   EUR 9,000   10,401,124
Trinitas CLO Ltd. (Bermuda),
Series 2024-24A, Class A1, 144A, 3 Month SOFR + 1.600% (Cap N/A, Floor 1.600%)
5.268%(c)   04/25/37     8,250   8,250,763
Venture CLO Ltd. (Cayman Islands),
Series 2019-37A, Class A1RR, 144A, 3 Month SOFR + 1.250% (Cap N/A, Floor 1.250%)
4.922%(c)   07/15/32     5,795   5,795,703
Voya Euro CLO DAC (Ireland),
Series 03A, Class AR, 144A, 3 Month EURIBOR + 1.250% (Cap N/A, Floor 1.250%)
3.188%(c)   03/16/38   EUR 8,200   9,483,268
              246,245,042
Consumer Loans — 0.0%
Aqua Finance Issuer Trust,
Series 2025-B, Class A, 144A
4.790%   05/17/51     193   194,031
Foundation Finance Trust,
Series 2025-03A, Class A, 144A
4.560%   08/15/52     386   382,899
GreenSky Home Improvement Issuer Trust,
Series 2025-03A, Class A3, 144A
4.520%   12/27/60     119   118,342
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Consumer Loans (cont’d.)
GreenSky Home Improvement Trust,
Series 2024-01, Class A4, 144A
5.670%   06/25/59     36   $36,867
Lendmark Funding Trust,
Series 2021-01A, Class A, 144A
1.900%   11/20/31     185   181,142
Series 2025-02A, Class A, 144A
4.780%   10/20/34     449   447,957
OneMain Financial Issuance Trust,
Series 2020-02A, Class A, 144A
1.750%   09/14/35     179   176,910
Series 2023-01A, Class D, 144A
7.490%   06/14/38     200   209,738
Series 2023-02A, Class C, 144A
6.740%   09/15/36     100   102,683
Series 2023-02A, Class D, 144A
7.520%   09/15/36     200   206,263
Oportun Issuance Trust,
Series 2026-A, Class A, 144A
4.320%   01/09/34     372   370,074
UPG HI Issuer Trust,
Series 2025-02, Class A, 144A
5.000%   09/25/47     87   86,441
              2,513,347
Credit Cards — 0.0%
NewDay Funding (United Kingdom),
Series 2024-01A, Class A, 144A, SONIA + 1.180% (Cap N/A, Floor 0.000%)
4.914%(c)   03/15/32   GBP 700   929,309
NewDay Funding Master Issuer PLC (United Kingdom),
Series 2024-02A, Class A, 144A, SONIA + 0.900% (Cap N/A, Floor 0.000%)
4.634%(c)   07/15/32   GBP 300   397,239
              1,326,548
Home Equity Loans — 0.0%
ACE Securities Corp. Home Equity Loan Trust,
Series 2004-IN01, Class A1, 1 Month SOFR + 0.754% (Cap N/A, Floor 0.640%)
4.433%(c)   05/25/34     14   13,726
Bear Stearns Asset-Backed Securities Trust,
Series 2003-02, Class A3, 1 Month SOFR + 1.614% (Cap 11.000%, Floor 1.500%)
5.293%(c)   03/25/43     7   7,246
GS Mortgage-Backed Securities Trust,
Series 2026-CES01, Class A1, 144A
4.899%(cc)   05/25/56     122   120,576
JPMorgan Mortgage Trust,
Series 2023-HE02, Class A1, 144A, 30 Day Average SOFR + 1.700% (Cap N/A, Floor 0.000%)
5.373%(c)   03/20/54     10   9,937
Option One Mortgage Accept Corp., Asset-Backed Certificates,
Series 2003-05, Class A2, 1 Month SOFR + 0.754% (Cap N/A, Floor 0.640%)
4.433%(c)   08/25/33     10   10,575
 
A13
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Home Equity Loans (cont’d.)
RCKT Mortgage Trust,
Series 2024-CES06, Class A1A, 144A
5.344%(cc)   09/25/44     380   $380,619
Series 2025-CES11, Class A1A, 144A
4.966%(cc)   11/25/55     332   329,666
Series 2025-CES12, Class A1A, 144A
5.027%(cc)   11/25/55     284   283,086
Series 2026-CES02, Class A1A, 144A
4.762%(cc)   02/25/56     1,025   1,013,274
Towd Point Mortgage Trust,
Series 2024-CES01, Class A1A, 144A
5.848%(cc)   01/25/64     51   51,552
Series 2024-CES05, Class A1, 144A
5.167%(cc)   09/25/64     163   162,454
              2,382,711
Other — 0.0%
Hilton Grand Vacations Trust,
Series 2025-03EXT, Class B, 144A
4.900%   10/25/44     123   122,372
NMABS Issuer I LLC,
Series 2025-01A, Class A, 144A
5.140%   11/22/55     192   187,854
Progress Residential Trust,
Series 2025-SFR03, Class A, 144A
3.390%   07/17/42     370   349,827
Series 2025-SFR06, Class A, 144A
4.000%   12/17/42     203   195,634
Sierra Timeshare Receivables Funding LLC,
Series 2025-02A, Class A, 144A
4.720%   04/20/44     65   65,242
              920,929
Residential Mortgage-Backed Securities — 0.0%
Ameriquest Mortgage Securities, Inc., Asset-Backed Pass-through Certificates,
Series 2004-R01, Class A2, 1 Month SOFR + 0.714% (Cap N/A, Floor 0.600%)
4.393%(c)   02/25/34     4   3,555
Argent Securities, Inc., Asset-Backed Pass-Through Certificates,
Series 2004-W10, Class A2, 1 Month SOFR + 0.894% (Cap N/A, Floor 0.780%)
3.872%(c)   10/25/34     8   8,165
Countrywide Asset-Backed Certificates Trust,
Series 2004-BC04, Class M1, 1 Month SOFR + 1.164% (Cap N/A, Floor 1.050%)
4.843%(c)   11/25/34     —(r)   88
Merrill Lynch Mortgage Investors Trust,
Series 2004-WMC03, Class M2, 1 Month SOFR + 1.959% (Cap N/A, Floor 1.845%)
4.698%(c)   01/25/35     7   6,923
Structured Asset Investment Loan Trust,
Series 2004-BNC01, Class A4, 1 Month SOFR + 1.054% (Cap N/A, Floor 0.940%)
4.733%(c)   09/25/34     26   27,839
              46,570
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
Asset-Backed Securities (continued)
Student Loans — 0.0%
SoFi Professional Loan Program LLC,
Series 2019-C, Class A2FX, 144A
2.370%   11/16/48     28   $26,957
SoFi Professional Loan Program Trust,
Series 2020-A, Class A2FX, 144A
2.540%   05/15/46     54   52,705
              79,662
 
Total Asset-Backed Securities

(cost $259,403,421)
  257,215,131
Commercial Mortgage-Backed Securities — 0.3%
BANK,
Series 2017-BNK06, Class A4
3.254%   07/15/60     75   73,843
Series 2018-BN13, Class A4
3.953%   08/15/61     291   287,661
Series 2019-BN20, Class A2
2.758%   09/15/62     384   362,656
Series 2021-BN34, Class A5
2.438%   06/15/63     165   145,234
BANK5,
Series 2024-05YR08, Class A3
5.884%   08/15/57     1,000   1,036,844
Series 2024-05YR10, Class A3
5.302%   10/15/57     1,050   1,069,853
Series 2025-05YR14, Class A3
5.646%   04/15/58     1,680   1,735,796
Series 2025-05YR15, Class A3
5.452%   07/15/58     1,900   1,947,118
Barclays Commercial Mortgage Securities Trust,
Series 2019-C04, Class A4
2.661%   08/15/52     247   236,120
Series 2024-05C29, Class A3
5.208%   09/15/57     500   508,883
Series 2025-05C34, Class A3
5.659%   05/15/58     1,060   1,095,184
Series 2025-05C36, Class A3
5.517%   08/15/58     2,100   2,163,409
Benchmark Mortgage Trust,
Series 2024-V09, Class A3
5.602%   08/15/57     1,000   1,025,837
Series 2024-V10, Class A3
5.277%   09/15/57     800   814,330
BFLD Trust,
Series 2025-EWEST, Class A, 144A, 1 Month SOFR + 1.550% (Cap N/A, Floor 1.550%)
5.223%(c)   06/15/42     550   548,245
BMO Mortgage Trust,
Series 2024-05C5, Class A3
5.857%   02/15/57     450   464,599
Series 2024-05C6, Class A3
5.316%   09/15/57     1,150   1,170,336
Series 2025-05C11, Class A3
5.669%   07/15/58     2,000   2,066,614
 
A14
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
BX Commercial Mortgage Trust (Canada),
Series 2024-PURE, Class A, 144A, CORRA + 1.900% (Cap N/A, Floor 1.900%)
4.178%(c)   11/15/41   CAD 441   $319,335
Series 2026-VLT09, Class A, 144A, 1 Month SOFR + 1.700% (Cap N/A, Floor 1.700%)
5.373%(c)   03/15/45     600   597,096
BX Trust,
Series 2019-OC11, Class A, 144A
3.202%   12/09/41     600   566,479
BXMT Ltd. (Cayman Islands),
Series 2025-FL05, Class A, 144A, 1 Month SOFR + 1.639% (Cap N/A, Floor 1.639%)
5.318%(c)   10/18/42     200   199,827
Cantor Commercial Real Estate Lending,
Series 2019-CF02, Class A4
2.624%   11/15/52     656   618,040
CD Mortgage Trust,
Series 2017-CD05, Class A3
3.171%   08/15/50     250   246,093
Series 2019-CD08, Class A3
2.657%   08/15/57     673   634,187
CENT,
Series 2025-CITY, Class A, 144A
4.920%(cc)   07/10/40     650   654,661
CFCRE Commercial Mortgage Trust,
Series 2016-C06, Class A2
2.950%   11/10/49     162   161,852
Series 2016-C07, Class A2
3.585%   12/10/54     251   248,960
Citigroup Commercial Mortgage Trust,
Series 2017-C04, Class A3
3.209%   10/12/50     229   225,592
Series 2019-GC41, Class A4
2.620%   08/10/56     280   262,452
Commercial Mortgage Trust,
Series 2016-COR01, Class A3
2.826%   10/10/49     298   296,315
CSAIL Commercial Mortgage Trust,
Series 2017-CX10, Class A4
3.191%   11/15/50     215   212,655
Series 2018-CX12, Class A3
3.959%   08/15/51     195   193,089
Series 2019-C17, Class A4
2.763%   09/15/52     105   99,454
CSTL Commercial Mortgage Trust,
Series 2024-GATE, Class A, 144A
4.764%(cc)   11/10/41     850   847,745
Series 2025-GATE02, Class A, 144A
4.560%(cc)   11/10/42     373   366,873
Series 2025-GATE02, Class C, 144A
5.144%(cc)   11/10/42     100   98,102
Deutsche Bank Commercial Mortgage Trust,
Series 2016-C03, Class A4
2.632%   08/10/49     178   177,412
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Commercial Mortgage-Backed Securities
(continued)
FHLMC Multifamily Structured Pass-Through Certificates,
Series K131, Class X1, IO
0.725%(cc)   07/25/31     11,315   $373,187
Series K741, Class X1, IO
0.538%(cc)   12/25/27     144   1,154
GS Mortgage Securities Trust,
Series 2019-GC42, Class A3
2.749%   09/10/52     625   590,734
Morgan Stanley Capital I Trust,
Series 2019-H07, Class A3
3.005%   07/15/52     46   43,602
One Bryant Park Trust,
Series 2019-OBP, Class A, 144A
2.516%   09/15/54     140   129,352
PRM7 Trust,
Series 2025-PRM07, Class A, 144A
4.363%(cc)   11/10/42     310   302,729
Series 2025-PRM07, Class C, 144A
4.941%(cc)   11/10/42     100   97,274
SLG Office Trust,
Series 2026-OMA, Class A, 144A
4.965%(cc)   04/15/41     700   700,139
UBS Commercial Mortgage Trust,
Series 2018-C12, Class A4
4.030%   08/15/51     325   321,167
Series 2019-C16, Class A3
3.344%   04/15/52     280   273,992
Wells Fargo Commercial Mortgage Trust,
Series 2017-C38, Class A4
3.190%   07/15/50     224   221,358
Series 2017-C41, Class A3
3.210%   11/15/50     420   413,225
Series 2019-C52, Class A4
2.643%   08/15/52     173   164,076
Series 2021-C59, Class A5
2.626%   04/15/54     100   90,031
Series 2024-5C1, Class A3
5.928%   07/15/57     1,100   1,137,547
Series 2025-5C5, Class A3
5.590%   07/15/58     2,290   2,361,890
 
Total Commercial Mortgage-Backed Securities

(cost $31,628,275)
  31,000,238
Corporate Bonds — 2.8%
Aerospace & Defense — 0.0%
Boeing Co. (The),
Sr. Unsec’d. Notes
3.625%   02/01/31     815   774,686
Bombardier, Inc. (Canada),
Sr. Unsec’d. Notes, 144A
6.750%   06/15/33     360   371,664
7.500%   02/01/29     45   46,669
 
A15
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Aerospace & Defense (cont’d.)
TransDigm, Inc.,
Gtd. Notes
4.625%   01/15/29     170   $166,997
              1,360,016
Agriculture — 0.0%
Altria Group, Inc.,
Gtd. Notes
3.125%   06/15/31   EUR 815   909,838
Airlines — 0.0%
American Airlines, Inc./AAdvantage Loyalty IP Ltd.,
Sr. Sec’d. Notes, 144A
5.500%   04/20/26     5   4,588
5.750%   04/20/29     715   709,108
Delta Air Lines, Inc./SkyMiles IP Ltd.,
Sr. Sec’d. Notes, 144A
4.750%   10/20/28     623   622,166
United Airlines Holdings, Inc.,
Gtd. Notes
5.375%   03/01/31     665   651,286
United Airlines, Inc.,
Sr. Sec’d. Notes, 144A
4.625%   04/15/29     270   264,682
              2,251,830
Apparel — 0.0%
Levi Strauss & Co.,
Sr. Unsec’d. Notes, 144A
3.500%   03/01/31     145   133,375
Auto Manufacturers — 0.1%
American Honda Finance Corp.,
Sr. Unsec’d. Notes
2.850%   06/27/28   EUR 300   341,533
3.500%   06/27/31   EUR 800   899,926
Ford Motor Co.,
Sr. Unsec’d. Notes
3.250%   02/12/32     525   456,072
4.750%   01/15/43     12   9,057
Ford Motor Credit Co. LLC,
Sr. Unsec’d. Notes
4.000%   11/13/30     1,136   1,058,378
4.950%   05/28/27     220   219,920
4.970%   04/06/29     550   543,182
5.730%   09/05/30     245   244,814
5.850%   05/17/27     345   347,533
6.798%   11/07/28     200   207,214
6.800%   05/12/28     675   695,374
General Motors Financial Co., Inc.,
Sr. Unsec’d. Notes
5.625%   04/04/32     496   507,368
Hyundai Capital America,
Sr. Unsec’d. Notes, 144A
4.550%   09/26/29     225   223,910
4.875%   11/01/27     260   261,116
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Auto Manufacturers (cont’d.)
Volkswagen Financial Services NV (Germany),
Gtd. Notes, EMTN
3.250%   04/13/27   GBP 200   $259,399
Volkswagen International Finance NV (Germany),
Gtd. Notes
3.875%(ff)   06/17/29(oo)   EUR 800   888,146
5.493%(ff)   11/15/30(oo)   EUR 200   230,014
              7,392,956
Auto Parts & Equipment — 0.0%
Clarios Global LP/Clarios US Finance Co.,
Sr. Sec’d. Notes, 144A
6.750%   02/15/30     75   76,687
IHO Verwaltungs GmbH (Germany),
Sr. Sec’d. Notes, Cash coupon 6.750% or PIK 7.500%
6.750%   11/15/29   EUR 100   119,701
Phinia, Inc.,
Sr. Sec’d. Notes, 144A
6.750%   04/15/29     365   372,573
Qnity Electronics, Inc.,
Gtd. Notes, 144A
6.250%   08/15/33     115   116,673
Sr. Sec’d. Notes, 144A
5.750%   08/15/32     200   200,249
Tenneco, Inc.,
Sr. Sec’d. Notes, 144A
8.000%   11/17/28     2,625   2,621,028
ZF Europe Finance BV (Germany),
Gtd. Notes, EMTN
7.000%   06/12/30   EUR 100   117,696
              3,624,607
Banks — 0.7%
Agence Francaise de Developpement EPIC (France),
Sr. Unsec’d. Notes
3.000%   01/17/34   EUR 400   439,020
Sr. Unsec’d. Notes, EMTN
0.250%   06/29/29   EUR 500   525,790
1.375%   07/05/32   EUR 100   101,378
Agricultural Development Bank of China (China),
Sr. Unsec’d. Notes
3.800%   10/27/30   CNH 11,500   1,818,981
AIB Group PLC (Ireland),
Jr. Sub. Notes
7.125%(ff)   10/30/29(oo)   EUR 200   240,209
Banca Monte dei Paschi di Siena SpA (Italy),
Covered Bonds
3.500%   04/23/29   EUR 650   760,254
Banco Bilbao Vizcaya Argentaria SA (Spain),
Jr. Sub. Notes
9.375%(ff)   03/19/29(oo)     200   215,398
Banco de Sabadell SA (Spain),
Jr. Sub. Notes
6.500%(ff)   05/20/31(oo)   EUR 200   233,281
Sr. Non-Preferred Notes, EMTN
4.250%(ff)   09/13/30   EUR 200   234,522
 
A16
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
5.500%(ff)   09/08/29   EUR 100   $120,784
Banco Santander SA (Spain),
Jr. Sub. Notes
9.625%(ff)   11/21/28(oo)     200   215,448
Banco Santander Totta SA (Portugal),
Covered Bonds
3.250%   02/15/31   EUR 400   463,337
Bank Gospodarstwa Krajowego (Poland),
Gov’t. Gtd. Notes
2.000%   06/01/30   EUR 100   109,838
Gov’t. Gtd. Notes, EMTN
3.875%   03/13/35   EUR 200   230,097
4.000%   03/13/32   EUR 300   353,947
4.250%   03/18/37   EUR 200   233,489
Bank of America Corp.,
Jr. Sub. Notes
6.250%(ff)   07/26/30(oo)     115   115,237
Sr. Unsec’d. Notes
2.572%(ff)   10/20/32     1,305   1,161,730
5.162%(ff)   01/24/31     455   463,587
Sr. Unsec’d. Notes, MTN
2.087%(ff)   06/14/29     555   527,825
Sub. Notes
3.846%(ff)   03/08/37     77   71,274
5.518%(ff)   10/25/35     495   495,191
5.744%(ff)   02/12/36     575   584,984
Bankinter SA (Spain),
Sr. Non-Preferred Notes, EMTN
3.625%(ff)   02/04/33   EUR 300   340,319
Barclays PLC (United Kingdom),
Sr. Unsec’d. Notes
4.521%(ff)   02/24/32     200   195,806
7.090%(ff)   11/06/29   GBP 200   275,176
BNG Bank NV (Netherlands),
Sr. Unsec’d. Notes, EMTN
0.050%   11/20/29   EUR 1,491   1,554,649
BNP Paribas SA (France),
Sr. Non-Preferred Notes, 144A
5.283%(ff)   11/19/30     670   680,119
Sr. Non-Preferred Notes, 144A, MTN
5.786%(ff)   01/13/33     210   216,954
Sub. Notes, EMTN
2.500%(ff)   03/31/32   EUR 500   569,433
BPCE SA (France),
Sr. Non-Preferred Notes, 144A
5.876%(ff)   01/14/31     1,089   1,120,160
6.714%(ff)   10/19/29     525   549,480
7.003%(ff)   10/19/34     250   273,132
Sr. Non-Preferred Notes, 144A, MTN
5.417%(ff)   01/13/37     250   243,028
Caisse des Depots et Consignations (France),
Sr. Unsec’d. Notes, EMTN
3.063%   10/09/30   EUR 100   113,651
CaixaBank SA (Spain),
Sr. Non-Preferred Notes, 144A
6.037%(ff)   06/15/35     200   207,678
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
6.840%(ff)   09/13/34     200   $217,096
Sr. Non-Preferred Notes, 144A, MTN
5.673%(ff)   03/15/30     516   529,303
Sub. Notes, EMTN
4.000%(ff)   03/05/37   EUR 300   338,266
Cassa Depositi e Prestiti SpA (Italy),
Sr. Unsec’d. Notes, 144A
4.375%   10/01/30     800   794,232
5.750%   05/05/26     800   801,210
5.875%   04/30/29     800   834,951
Citigroup, Inc.,
Sr. Unsec’d. Notes
3.980%(ff)   03/20/30     180   177,134
4.412%(ff)   03/31/31     1,006   993,647
4.503%(ff)   09/11/31     123   121,530
4.542%(ff)   09/19/30     783   780,305
4.786%(ff)   03/04/29     2,250   2,261,521
5.174%(ff)   02/13/30     815   827,519
5.449%(ff)   06/11/35     15   15,206
Sub. Notes
5.827%(ff)   02/13/35     90   91,141
Citizens Financial Group, Inc.,
Sr. Unsec’d. Notes
5.253%(ff)   03/05/31     1,000   1,011,621
Commerzbank AG (Germany),
Sr. Non-Preferred Notes, EMTN
4.000%(ff)   07/16/32   EUR 700   810,390
Sub. Notes, EMTN
4.875%(ff)   10/16/34   EUR 400   469,275
Cooperatieve Rabobank UA (Netherlands),
Sr. Preferred Notes, GMTN
3.500%   12/14/26   AUD 300   203,360
Credit Agricole SA (France),
Sr. Non-Preferred Notes, 144A
6.316%(ff)   10/03/29     290   301,548
Sr. Non-Preferred Notes, 144A, MTN
4.631%(ff)   09/11/28     250   249,715
4.818%(ff)   09/25/33     250   244,220
Sr. Non-Preferred Notes, EMTN
0.375%   04/20/28   EUR 100   108,789
Sub. Notes, 144A, MTN
4.000%(ff)   01/10/33     500   491,488
Danske Bank A/S (Denmark),
Sr. Non-Preferred Notes, 144A
4.613%(ff)   10/02/30     200   198,915
5.705%(ff)   03/01/30     445   456,598
Deutsche Bank AG (Germany),
Sr. Non-Preferred Notes
2.552%(ff)   01/07/28     295   290,175
4.950%(ff)   08/04/31     175   174,391
4.999%(ff)   09/11/30     165   165,482
6.819%(ff)   11/20/29     150   157,383
Sr. Non-Preferred Notes, EMTN
3.375%(ff)   02/13/31   EUR 1,000   1,132,652
Sub. Notes, EMTN
4.000%(ff)   06/24/32   EUR 400   460,306
 
A17
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
Emirates NBD Bank PJSC (United Arab Emirates),
Sr. Unsec’d. Notes
6.100%   02/21/33   AUD 200   $135,856
Sr. Unsec’d. Notes, MTN
3.050%   02/26/30   AUD 660   406,763
Fifth Third Bancorp,
Sr. Unsec’d. Notes
4.566%(ff)   04/29/32     185   181,550
Fifth Third Financial Corp.,
Sr. Unsec’d. Notes
5.982%(ff)   01/30/30     199   205,519
First Abu Dhabi Bank PJSC (United Arab Emirates),
Sr. Unsec’d. Notes, EMTN
3.120%   02/20/31   EUR 200   222,212
Goldman Sachs Bank USA,
Sr. Unsec’d. Notes
5.414%(ff)   05/21/27     800   800,940
Goldman Sachs Group, Inc. (The),
Jr. Sub. Notes, Series V
4.125%(ff)   11/10/26(oo)     400   393,728
Sr. Unsec’d. Notes
1.992%(ff)   01/27/32     1,095   961,618
4.369%(ff)   10/21/31     420   411,772
4.516%(ff)   01/21/32(a)     481   473,793
4.692%(ff)   10/23/30     680   680,524
5.049%(ff)   07/23/30     180   182,098
5.065%(ff)   01/21/37     160   156,661
5.207%(ff)   01/28/31     140   142,289
HSBC Holdings PLC (United Kingdom),
Jr. Sub. Notes
4.600%(ff)   12/17/30(oo)     285   260,062
Sr. Unsec’d. Notes
2.206%(ff)   08/17/29     390   368,843
3.000%(ff)   07/22/28   GBP 975   1,252,311
4.619%(ff)   11/06/31     555   546,399
5.130%(ff)   11/19/28     400   402,306
5.546%(ff)   03/04/30     285   291,945
Sub. Notes, EMTN
4.191%(ff)   05/19/36   EUR 250   285,680
Intesa Sanpaolo SpA (Italy),
Jr. Sub. Notes
7.000%(ff)   05/20/32(oo)   EUR 200   241,781
Jr. Sub. Notes, EMTN
5.500%(ff)   03/01/28(oo)   EUR 250   288,211
Sr. Non-Preferred Notes, EMTN
3.850%(ff)   09/16/32   EUR 700   807,456
Sr. Preferred Notes, 144A
6.625%   06/20/33     365   394,593
JPMorgan Chase & Co.,
Sr. Unsec’d. Notes
2.069%(ff)   06/01/29     830   789,631
2.545%(ff)   11/08/32     250   222,353
2.739%(ff)   10/15/30(a)     575   541,596
4.603%(ff)   10/22/30     1,000   1,001,942
4.995%(ff)   07/22/30     890   902,744
5.502%(ff)   01/24/36     50   51,168
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
KBC Group NV (Belgium),
Sr. Unsec’d. Notes, 144A
4.454%(ff)   09/23/31     220   $216,562
Sub. Notes, EMTN
6.151%(ff)   03/19/34   GBP 300   403,870
KeyCorp,
Sr. Unsec’d. Notes
6.401%(ff)   03/06/35     13   13,787
Sr. Unsec’d. Notes, GMTN
5.121%(ff)   04/04/31(a)     584   589,136
Lloyds Banking Group PLC (United Kingdom),
Jr. Sub. Notes
6.750%(ff)   09/27/31(oo)     200   198,500
Sub. Notes, EMTN
4.000%(ff)   05/09/35   EUR 300   344,009
M&T Bank Corp.,
Sr. Unsec’d. Notes
6.082%(ff)   03/13/32     49   51,340
Sr. Unsec’d. Notes, MTN
5.385%(ff)   01/16/36     61   60,485
MFB Magyar Fejlesztesi Bank Zrt (Hungary),
Gov’t. Gtd. Notes
0.375%   06/09/26   EUR 100   114,525
Mizuho Financial Group, Inc. (Japan),
Sr. Unsec’d. Notes
5.098%(ff)   05/13/31(a)     1,290   1,305,869
Morgan Stanley,
Sr. Unsec’d. Notes
0.406%(ff)   10/29/27   EUR 650   740,784
4.493%(ff)   01/16/32     230   226,220
4.654%(ff)   10/18/30     1,105   1,104,187
5.073%(ff)   01/30/37     211   206,660
5.230%(ff)   01/15/31     95   96,482
Sr. Unsec’d. Notes, EMTN
0.000%   04/02/32     200   145,500
Sr. Unsec’d. Notes, GMTN
2.699%(ff)   01/22/31     860   798,795
3.749%(ff)   11/07/36   EUR 900   998,946
Sr. Unsec’d. Notes, MTN
2.943%(ff)   01/21/33     175   157,290
5.250%(ff)   04/21/34     75   75,247
5.424%(ff)   07/21/34     88   89,222
Sr. Unsec’d. Notes, MTN, Series I
4.356%(ff)   10/22/31     295   289,181
Sub. Notes
5.314%(ff)   01/18/41     90   86,835
5.948%(ff)   01/19/38     208   213,187
Morgan Stanley Bank NA,
Sr. Unsec’d. Notes
5.504%(ff)   05/26/28     600   606,858
Morgan Stanley Private Bank NA,
Sr. Unsec’d. Notes
4.213%(ff)   02/08/30     900   890,644
4.465%(ff)   11/19/31     295   290,486
4.734%(ff)   07/18/31     250   249,144
 
A18
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
National Australia Bank Ltd. (Australia),
Covered Bonds
3.146%   02/05/31   EUR 1,000   $1,153,920
PNC Financial Services Group, Inc. (The),
Sr. Unsec’d. Notes
4.812%(ff)   10/21/32     115   114,627
5.373%(ff)   07/21/36     40   40,313
Sub. Notes
5.423%(ff)   01/25/41     70   68,695
QNB Finance Ltd. (Qatar),
Gtd. Notes, MTN
4.900%   02/01/28   AUD 300   203,242
Royal Bank of Canada (Canada),
Jr. Sub. Notes
6.500%(ff)   05/24/86     400   389,016
Santander UK Group Holdings PLC (United Kingdom),
Sr. Unsec’d. Notes
4.320%(ff)   09/22/29     200   197,966
4.858%(ff)   09/11/30     400   400,269
Santander UK PLC (United Kingdom),
Covered Bonds
3.125%   05/12/31   EUR 630   724,754
Societe Generale SA (France),
Sr. Non-Preferred Notes, 144A
2.889%(ff)   06/09/32     684   612,768
5.400%(ff)   04/10/37     655   631,603
Standard Chartered PLC (United Kingdom),
Sr. Unsec’d. Notes, 144A
5.005%(ff)   10/15/30     513   516,796
5.545%(ff)   01/21/29     235   238,196
7.018%(ff)   02/08/30     200   212,158
Toronto-Dominion Bank (The) (Canada),
Covered Bonds
3.666%   09/08/31   EUR 650   768,303
Truist Financial Corp.,
Sr. Unsec’d. Notes, MTN
4.964%(ff)   10/23/36(a)     240   232,473
5.711%(ff)   01/24/35     45   46,386
5.867%(ff)   06/08/34(a)     60   62,449
TSB Bank PLC (United Kingdom),
Covered Bonds
2.704%   02/18/30   EUR 500   568,824
3.319%   03/05/29   EUR 900   1,045,563
U.S. Bancorp,
Sr. Unsec’d. Notes
4.009%(ff)   05/21/32   EUR 1,000   1,160,705
5.678%(ff)   01/23/35     35   36,140
5.836%(ff)   06/12/34     95   99,168
UBS Group AG (Switzerland),
Jr. Sub. Notes, 144A
9.250%(ff)   11/13/28(oo)     220   233,244
Sr. Unsec’d. Notes, 144A, MTN
4.398%(ff)   09/23/31     200   196,268
5.010%(ff)   03/23/37     200   193,478
Sr. Unsec’d. Notes, EMTN
0.650%(ff)   01/14/28   EUR 1,400   1,588,124
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Banks (cont’d.)
UniCredit SpA (Italy),
Sr. Preferred Notes, EMTN
4.800%(ff)   01/17/29   EUR 200   $236,859
Wells Fargo & Co.,
Sr. Unsec’d. Notes
4.960%(ff)   01/23/37     100   97,421
5.150%(ff)   04/23/31     526   534,930
5.244%(ff)   01/24/31     610   621,676
5.499%(ff)   01/23/35     85   86,490
Sr. Unsec’d. Notes, MTN
3.350%(ff)   03/02/33     330   302,762
5.557%(ff)   07/25/34     47   48,130
              69,996,366
Beverages — 0.0%
Maple Parent Holdings Corp.,
Gtd. Notes, 144A
3.881%   03/26/30   EUR 500   574,043
5.700%   03/26/36     50   49,621
6.625%   03/26/56     53   52,482
              676,146
Biotechnology — 0.0%
Amgen, Inc.,
Sr. Unsec’d. Notes
4.850%   02/19/36     97   95,260
5.750%   03/02/63     35   33,638
              128,898
Building Materials — 0.1%
Carrier Global Corp.,
Sr. Unsec’d. Notes
4.500%   11/29/32   EUR 200   239,261
Griffon Corp.,
Gtd. Notes
5.750%   03/01/28     530   527,210
JELD-WEN, Inc.,
Gtd. Notes, 144A
4.875%   12/15/27     1,360   923,131
Quikrete Holdings, Inc.,
Sr. Sec’d. Notes, 144A
6.375%   03/01/32     735   747,069
Sr. Unsec’d. Notes, 144A
6.750%   03/01/33     80   81,260
Smyrna Ready Mix Concrete LLC,
Sr. Sec’d. Notes, 144A
6.000%   11/01/28     1,085   1,077,240
Standard Industries, Inc.,
Sr. Unsec’d. Notes, 144A
3.375%   01/15/31     115   103,326
4.375%   07/15/30     992   936,595
              4,635,092
 
A19
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Chemicals — 0.0%
Alpek SAB de CV (Mexico),
Gtd. Notes
4.250%   09/18/29     200   $183,491
CF Industries, Inc.,
Gtd. Notes
4.950%   06/01/43     70   62,470
Herens Holdco Sarl (Luxembourg),
Sr. Sec’d. Notes, 144A
4.750%   05/15/28     200   167,358
INEOS Quattro Finance 2 PLC (United Kingdom),
Sr. Sec’d. Notes
8.500%   03/15/29   EUR 100   95,313
Solstice Advanced Materials, Inc.,
Sr. Unsec’d. Notes, 144A
5.625%   09/30/33     360   354,975
Yara International ASA (Brazil),
Sr. Unsec’d. Notes, 144A
4.750%   06/01/28     1,060   1,060,371
              1,923,978
Commercial Services — 0.1%
Adif Alta Velocidad (Spain),
Sr. Unsec’d. Notes, EMTN
3.250%   05/31/29   EUR 400   463,937
Allied Universal Holdco LLC/Allied Universal Finance Corp.,
Sr. Unsec’d. Notes, 144A
6.000%   06/01/29     445   430,347
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 Sarl,
Sr. Sec’d. Notes, 144A
4.625%   06/01/28     965   942,805
Alta Equipment Group, Inc.,
Sec’d. Notes, 144A
9.000%   06/01/29     505   450,437
DCLI Bidco LLC,
Second Mortgage, 144A
7.750%   11/15/29     340   343,535
DP World Ltd. (United Arab Emirates),
Sr. Unsec’d. Notes
2.375%   09/25/26   EUR 400   458,877
4.250%   09/25/30   GBP 400   503,358
Fiserv Funding ULC,
Gtd. Notes
3.500%   06/15/32   EUR 300   330,024
Freeport Terminal Malta PLC (Malta),
Gov’t. Gtd. Notes, 144A
7.250%   05/15/28     600   624,028
Global Payments, Inc.,
Sr. Unsec’d. Notes
4.875%   03/17/31   EUR 500   587,582
5.550%   11/15/35     135   129,811
Herc Holdings, Inc.,
Gtd. Notes, 144A
7.000%   06/15/30     510   523,365
7.250%   06/15/33(a)     210   215,612
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Commercial Services (cont’d.)
Mersin Uluslararasi Liman Isletmeciligi A/S (Turkey),
Sr. Unsec’d. Notes
8.250%   11/15/28     200   $204,187
Quanta Services, Inc.,
Sr. Unsec’d. Notes
5.100%   08/09/35     245   241,664
Service Corp. International,
Sr. Unsec’d. Notes
5.750%   10/15/32(a)     370   369,577
Toll Road Investors Partnership II LP,
Insured Notes, 144A
5.183%(s)   02/15/43     169   58,005
United Rentals North America, Inc.,
Gtd. Notes
3.750%   01/15/32     1,035   949,329
3.875%   02/15/31     60   56,429
4.875%   01/15/28     455   453,133
5.250%   01/15/30(a)     895   891,053
Valvoline, Inc.,
Sr. Unsec’d. Notes, 144A
3.625%   06/15/31     45   40,704
              9,267,799
Computers — 0.0%
International Business Machines Corp.,
Sr. Unsec’d. Notes
3.000%   02/03/31   EUR 400   449,838
NCR Atleos Corp.,
Sr. Sec’d. Notes, 144A
9.500%   04/01/29     446   477,383
              927,221
Diversified Financial Services — 0.1%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland),
Gtd. Notes
3.000%   10/29/28     375   361,023
3.300%   01/30/32     540   489,622
American Express Co.,
Sr. Unsec’d. Notes
4.918%(ff)   07/20/33     75   75,185
5.667%(ff)   04/25/36     70   72,386
Avolon Holdings Funding Ltd. (Ireland),
Gtd. Notes, 144A
3.250%   02/15/27     70   69,195
4.950%   01/15/28     190   190,631
5.150%   01/15/30     105   105,415
5.375%   05/30/30     355   359,001
5.750%   11/15/29     423   432,733
6.375%   05/04/28     345   354,798
Freedom Mortgage Holdings LLC,
Sr. Unsec’d. Notes, 144A
6.875%   05/01/31     400   373,945
LPL Holdings, Inc.,
Gtd. Notes
5.700%   05/20/27     95   95,909
 
A20
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Diversified Financial Services (cont’d.)
Gtd. Notes, 144A
4.000%   03/15/29     124   $120,522
OneMain Finance Corp.,
Gtd. Notes
5.375%   11/15/29     725   699,746
Ontario Teachers’ Finance Trust (Canada),
Gtd. Notes, EMTN
0.100%   05/19/28   EUR 400   435,810
PennyMac Financial Services, Inc.,
Gtd. Notes, 144A
4.250%   02/15/29     484   459,024
5.750%   09/15/31     575   534,094
Power Finance Corp. Ltd. (India),
Sr. Unsec’d. Notes, GMTN
1.841%   09/21/28   EUR 600   660,860
Power Sector Assets & Liabilities Management Corp. (Philippines),
Gov’t. Gtd. Notes
9.625%   05/15/28     600   659,562
Stellantis Financial Services US Corp.,
Sr. Unsec’d. Notes, 144A
5.400%   09/15/30     425   417,341
              6,966,802
Electric — 0.3%
Acquirente Unico SpA (Italy),
Sr. Unsec’d. Notes
3.500%   02/11/33   EUR 300   339,735
Bulgarian Energy Holding EAD (Bulgaria),
Sr. Unsec’d. Notes
2.450%   07/22/28   EUR 300   331,151
4.250%   06/19/30   EUR 100   113,237
Caledonia Generating LLC,
Sr. Sec’d. Notes, 144A
1.950%   02/28/34     259   227,600
CEZ A/S (Czech Republic),
Sr. Unsec’d. Notes, EMTN
0.875%   12/02/26   EUR 300   342,039
4.125%   04/30/33   EUR 100   113,925
Chile Electricity Lux Mpc II Sarl (Chile),
Gov’t. Gtd. Notes
5.580%   10/20/35     244   245,723
5.672%   10/20/35     485   489,843
Chile Electricity Lux MPC Sarl (Chile),
Gov’t. Gtd. Notes
6.010%   01/20/33     344   354,592
Comision Federal de Electricidad (Mexico),
Insured Notes, Series 16U, 6 Month SOFR + 0.923%
4.591%(c)   12/15/36     37   33,329
Sr. Unsec’d. Notes, 144A
6.500%   01/28/51     200   192,750
Sr. Unsec’d. Notes, EMTN
5.000%   09/29/36     560   520,594
Constellation Energy Generation LLC,
Sr. Unsec’d. Notes
6.250%   10/01/39     55   58,060
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Sr. Unsec’d. Notes, 144A
3.750%   03/01/31     1,375   $1,311,147
4.625%   02/01/29     30   29,638
5.000%   02/01/31     360   361,005
Dominion Energy, Inc.,
Jr. Sub. Notes
6.000%(ff)   02/15/56     191   189,402
Edison International,
Jr. Sub. Notes
8.125%(ff)   06/15/53     43   43,720
Sr. Unsec’d. Notes
5.450%   06/15/29     98   98,862
Electricite de France SA (France),
Jr. Sub. Notes
2.625%(ff)   12/01/27(oo)   EUR 200   224,290
Jr. Sub. Notes, EMTN
5.625%(ff)   06/17/32(oo)   EUR 200   236,559
Enel Finance International NV (Italy),
Gtd. Notes, 144A
5.750%   09/30/55     265   247,104
Energuate Trust 2 0 (Guatemala),
Sr. Unsec’d. Notes, 144A
6.350%   09/15/35     200   196,120
Engie SA (France),
Sr. Unsec’d. Notes, EMTN
3.625%   03/06/31   EUR 200   231,286
Entergy Corp.,
Jr. Sub. Notes
5.875%(ff)   06/15/56     29   28,617
7.125%(ff)   12/01/54     282   288,685
Entergy Texas, Inc.,
First Mortgage
5.550%   09/15/54     20   18,897
Eskom Holdings (South Africa),
Gov’t. Gtd. Notes, MTN
6.350%   08/10/28     1,500   1,511,719
EUSHI Finance, Inc.,
Gtd. Notes
6.250%(ff)   04/01/56     124   121,810
7.625%(ff)   12/15/54     89   91,446
FirstEnergy Corp.,
Sr. Unsec’d. Notes
2.650%   03/01/30     69   63,959
Sr. Unsec’d. Notes, Series C
4.850%   07/15/47     139   118,613
FirstEnergy Transmission LLC,
Sr. Unsec’d. Notes, 144A
2.866%   09/15/28     60   57,700
Iberdrola International BV (Spain),
Gtd. Notes, Series NC5
1.874%(ff)   04/15/26(oo)   EUR 700   805,292
Israel Electric Corp. Ltd. (Israel),
Sec’d. Notes, 144A, GMTN
3.750%   02/22/32     400   369,960
Sr. Sec’d. Notes, 144A, GMTN
4.250%   08/14/28     200   196,000
 
A21
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Sr. Sec’d. Notes, EMTN
7.750%   12/15/27     500   $520,469
ITC Holdings Corp.,
Sr. Unsec’d. Notes, 144A
2.950%   05/14/30     90   84,136
5.400%   06/01/33     315   320,115
5.650%   05/09/34     70   71,916
Jersey Central Power & Light Co.,
Sr. Unsec’d. Notes, 144A
2.750%   03/01/32     145   130,242
Landsvirkjun (Iceland),
Gov’t. Gtd. Notes, EMTN, 3 Month EURIBOR + 0.090%
2.120%(c)   07/24/26   EUR 600   689,592
MVM Energetika Zrt (Hungary),
Sr. Unsec’d. Notes
0.875%   11/18/27   EUR 100   110,192
6.500%   03/13/31     200   206,375
National Grid Electricity Distribution East Midlands PLC (United Kingdom),
Sr. Unsec’d. Notes, EMTN
3.530%   09/20/28   EUR 100   115,970
National Grid PLC (United Kingdom),
Sr. Unsec’d. Notes, EMTN
0.250%   09/01/28   EUR 100   107,471
NRG Energy, Inc.,
Gtd. Notes
5.750%   01/15/28     859   861,211
Gtd. Notes, 144A
3.375%   02/15/29     110   104,540
3.625%   02/15/31     529   488,551
3.875%   02/15/32     35   32,115
Jr. Sub. Notes, 144A
10.250%(ff)   03/15/28(oo)     275   296,998
NTPC Ltd. (India),
Sr. Unsec’d. Notes, EMTN
2.750%   02/01/27   EUR 700   805,203
Ontario Electricity Financial Corp. (Canada),
Local Gov’t. Gtd. Notes, Series 40
2.427%(s)   04/11/31   CAD 400   241,129
Pacific Gas & Electric Co.,
First Mortgage
4.600%   06/15/43     70   57,487
5.800%   05/15/34     160   163,853
6.000%   08/15/35     245   253,079
6.000%   05/01/56     70   66,551
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara (Indonesia),
Sr. Unsec’d. Notes
1.875%   11/05/31   EUR 600   609,505
PG&E Corp.,
Jr. Sub. Notes
6.850%(ff)   09/15/56     143   140,840
7.375%(ff)   03/15/55     74   74,416
San Diego Gas & Electric Co.,
First Mortgage
5.200%   03/15/36     70   69,794
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electric (cont’d.)
Saudi Electricity Sukuk Programme Co. (Saudi Arabia),
Sr. Unsec’d. Notes, EMTN
4.310%   01/22/29     400   $394,468
SCE Recovery Funding LLC,
Sr. Sec’d. Notes
4.453%   03/15/36     312   309,597
Sempra,
Jr. Sub. Notes
6.375%(ff)   04/01/56     95   95,239
Sierra Pacific Power Co.,
Jr. Sub. Notes
6.200%(ff)   12/15/55     190   184,799
Southern California Edison Co.,
First Mortgage
5.200%   06/01/34     32   31,780
5.450%   03/01/35     88   88,453
Southern Power Co.,
Sr. Unsec’d. Notes, Series A
4.250%   10/01/30     31   30,571
Sr. Unsec’d. Notes, Series B
4.900%   10/01/35     81   78,558
Texas Electric Market Stabilization Funding M LLC,
Sr. Sec’d. Notes, Series A, 144A
5.147%   08/01/51     1,421   1,403,396
Vistra Corp.,
Jr. Sub. Notes, 144A
7.000%(ff)   12/15/26(oo)     1,450   1,450,735
8.000%(ff)   10/15/26(oo)     1,975   1,991,266
Jr. Sub. Notes, Series C, 144A
8.875%(ff)   01/15/29(oo)     1,500   1,614,910
Vistra Operations Co. LLC,
Gtd. Notes, 144A
5.000%   07/31/27     2,085   2,079,847
5.625%   02/15/27     885   884,944
6.875%   04/15/32     315   325,956
Sr. Sec’d. Notes, 144A
3.700%   01/30/27     45   44,698
4.600%   10/15/30     30   29,471
5.250%   10/15/35     72   70,155
5.350%   01/31/36     95   92,971
5.700%   12/30/34     75   75,580
6.000%   04/15/34     120   123,709
              28,227,262
Electrical Components & Equipment — 0.0%
Emerson Electric Co.,
Sr. Unsec’d. Notes
3.000%   03/15/31   EUR 1,200   1,345,276
WESCO Distribution, Inc.,
Gtd. Notes, 144A
5.250%   04/15/31     135   134,147
5.500%   04/15/34     150   147,846
              1,627,269
 
A22
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Electronics — 0.0%
Fortive Corp.,
Sr. Unsec’d. Notes
3.700%   08/15/29   EUR 450   $521,896
Sensata Technologies, Inc.,
Gtd. Notes, 144A
3.750%   02/15/31     75   69,631
              591,527
Energy-Alternate Sources — 0.0%
India Green Power Holdings (India),
Sec’d. Notes
4.000%   02/22/27     200   194,800
Engineering & Construction — 0.1%
Bioceanico Sovereign Certificate Ltd. (Paraguay),
Sr. Sec’d. Notes
2.298%(s)   06/05/34     413   336,148
Cellnex Finance Co. SA (Spain),
Gtd. Notes, EMTN
1.250%   01/15/29   EUR 200   216,923
2.000%   02/15/33   EUR 2,100   2,108,024
Cellnex Telecom SA (Spain),
Sr. Unsec’d. Notes, EMTN
1.750%   10/23/30   EUR 400   421,834
Ferrovial SE,
Sr. Unsec’d. Notes
4.375%   09/13/30   EUR 100   118,729
Heathrow Funding Ltd. (United Kingdom),
Sr. Sec’d. Notes, EMTN
1.125%   10/08/32   EUR 300   305,214
1.875%   03/14/36   EUR 100   96,992
6.450%   12/10/33   GBP 100   137,734
IHS Holding Ltd. (Nigeria),
Gtd. Notes
6.250%   11/29/28     200   198,032
Mexico City Airport Trust (Mexico),
Sr. Sec’d. Notes
3.875%   04/30/28     256   249,741
5.500%   07/31/47     200   166,180
Sr. Sec’d. Notes, 144A
3.875%   04/30/28     294   286,811
TopBuild Corp.,
Gtd. Notes, 144A
4.125%   02/15/32     275   253,634
5.625%   01/31/34     550   538,467
              5,434,463
Entertainment — 0.0%
Caesars Entertainment, Inc.,
Gtd. Notes, 144A
4.625%   10/15/29     2,100   2,020,893
Sr. Sec’d. Notes, 144A
7.000%   02/15/30     400   405,217
Jacobs Entertainment, Inc.,
Sr. Unsec’d. Notes, 144A
6.750%   02/15/29     350   326,662
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Entertainment (cont’d.)
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.,
Gtd. Notes, 144A
5.125%   10/01/29     30   $29,630
6.250%   03/15/33     495   490,560
7.125%   02/15/31     380   399,213
              3,672,175
Environmental Control — 0.0%
GFL Environmental, Inc.,
Gtd. Notes, 144A
6.750%   01/15/31     135   139,732
Foods — 0.1%
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s LP/Albertson’s LLC,
Gtd. Notes, 144A
5.625%   03/31/32     600   590,395
B&G Foods, Inc.,
Gtd. Notes
5.250%   09/15/27     575   554,481
Sr. Sec’d. Notes, 144A
8.000%   09/15/28     175   172,366
Bellis Acquisition Co. PLC (United Kingdom),
Sr. Sec’d. Notes
8.000%   07/01/31(a)   EUR 1,707   1,859,586
8.125%   05/14/30   GBP 1,050   1,280,335
JBS NV/JBS USA Foods Group Holdings, Inc./JBS USA Food Co. Holdings,
Sr. Unsec’d. Notes
5.500%   01/15/36     280   278,720
5.950%   04/20/35     140   144,652
6.500%   12/01/52     35   35,229
7.250%   11/15/53     55   60,243
Lamb Weston Holdings, Inc.,
Gtd. Notes, 144A
4.125%   01/31/30     1,365   1,304,601
4.375%   01/31/32     500   466,050
Mars, Inc.,
Sr. Unsec’d. Notes, 144A
5.200%   03/01/35     130   131,182
Mondelez International, Inc.,
Sr. Unsec’d. Notes, Series MPLE
4.625%   07/03/31   CAD 900   664,939
Post Holdings, Inc.,
Gtd. Notes, 144A
4.500%   09/15/31     475   442,144
              7,984,923
Gas — 0.0%
AmeriGas Partners LP/AmeriGas Finance Corp.,
Sr. Unsec’d. Notes
5.750%   05/20/27     44   44,180
NiSource, Inc.,
Jr. Sub. Notes
6.950%(ff)   11/30/54     80   82,127
Southern Co. Gas Capital Corp.,
Gtd. Notes
5.750%   09/15/33     45   46,776
 
A23
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Gas (cont’d.)
Terega SA (France),
Sr. Unsec’d. Notes
0.875%   09/17/30   EUR 700   $705,037
              878,120
Healthcare-Products — 0.0%
American Medical Systems Europe BV,
Gtd. Notes
3.250%   03/08/34   EUR 600   665,180
Medline Borrower LP,
Sr. Sec’d. Notes, 144A
3.875%   04/01/29     1,940   1,877,555
Medtronic, Inc.,
Gtd. Notes
3.650%   10/15/29   EUR 600   698,947
3.875%   10/15/36   EUR 600   686,762
Solventum Corp.,
Sr. Unsec’d. Notes
5.450%   03/13/31     230   235,985
5.600%   03/23/34     135   138,000
              4,302,429
Healthcare-Services — 0.1%
DaVita, Inc.,
Gtd. Notes, 144A
3.750%   02/15/31     100   91,739
4.625%   06/01/30     1,945   1,870,051
HCA, Inc.,
Gtd. Notes
3.500%   09/01/30     405   384,572
3.500%   07/15/51     75   49,527
4.600%   11/15/32     124   120,659
5.250%   06/15/49     5   4,409
5.500%   06/15/47     70   64,184
Tenet Healthcare Corp.,
Sr. Sec’d. Notes
4.250%   06/01/29     250   242,900
4.375%   01/15/30     1,140   1,103,716
5.125%   11/01/27     565   564,499
              4,496,256
Holding Companies-Diversified — 0.0%
Benteler International AG (Austria),
Sr. Sec’d. Notes
7.250%   06/15/31   EUR 100   119,775
Clue Opco LLC,
Sr. Sec’d. Notes, 144A
9.500%   10/15/31     3,840   3,732,897
              3,852,672
Home Builders — 0.1%
Beazer Homes USA, Inc.,
Gtd. Notes
5.875%   10/15/27     25   24,887
7.250%   10/15/29(a)     789   789,193
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Home Builders (cont’d.)
Brookfield Residential Properties, Inc./Brookfield Residential US LLC (Canada),
Gtd. Notes, 144A
6.250%   09/15/27     170   $169,538
Sr. Unsec’d. Notes, 144A
5.000%   06/15/29     1,585   1,501,423
M/I Homes, Inc.,
Gtd. Notes
4.950%   02/01/28     650   643,375
Mattamy Group Corp. (Canada),
Sr. Unsec’d. Notes, 144A
4.625%   03/01/30     1,245   1,181,194
Taylor Morrison Communities, Inc.,
Sr. Unsec’d. Notes, 144A
5.125%   08/01/30     545   539,049
              4,848,659
Housewares — 0.0%
Newell Brands, Inc.,
Sr. Unsec’d. Notes
6.375%   05/15/30(a)     280   269,630
6.625%   05/15/32     135   129,049
Sr. Unsec’d. Notes, 144A
8.500%   06/01/28     300   310,231
Scotts Miracle-Gro Co. (The),
Gtd. Notes
4.375%   02/01/32     1,025   953,485
SWF Holdings I Corp.,
Sec’d. Notes, 144A
6.500%   10/06/29     419   134,144
              1,796,539
Insurance — 0.1%
Asurion LLC/Asurion Co-Issuer, Inc.,
Sr. Sec’d. Notes, 144A
8.000%   12/31/32     400   415,275
8.375%   02/01/34     585   569,805
Athene Global Funding,
Sec’d. Notes, 144A
5.033%   07/17/30     360   356,071
Sr. Sec’d. Notes, 144A
5.543%   08/22/35     210   205,297
Berkshire Hathaway, Inc.,
Sr. Unsec’d. Notes
2.422%   11/29/35   JPY 100,000   597,129
Chubb INA Holdings LLC,
Gtd. Notes
2.750%   08/06/35   CNH 2,000   286,826
Corebridge Global Funding,
Sec’d. Notes, 144A
5.200%   06/24/29(a)     600   607,588
Fairfax Financial Holdings Ltd. (Canada),
Sr. Unsec’d. Notes
3.375%   03/03/31     440   408,517
 
A24
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Insurance (cont’d.)
Helvetia Europe SA (Switzerland),
Gtd. Notes
2.750%(ff)   09/30/41   EUR 400   $428,913
MetLife, Inc.,
Sub. Notes
5.850%(ff)   03/15/56     23   22,573
Sogecap SA (France),
Sub. Notes
6.500%(ff)   05/16/44   EUR 400   511,764
              4,409,758
Internet — 0.0%
Alphabet, Inc.,
Sr. Unsec’d. Notes
4.625%   11/13/32   GBP 600   769,627
5.650%   02/15/56     55   54,781
5.875%   02/13/58   GBP 200   249,628
Amazon.com, Inc.,
Sr. Unsec’d. Notes
5.800%   03/13/56     85   84,792
Beignet Investor LLC,
Sr. Sec’d. Notes, 144A
6.581%   05/30/49     1,009   1,039,142
Gen Digital, Inc.,
Gtd. Notes, 144A
6.250%   04/01/33     290   282,274
Meta Platforms, Inc.,
Sr. Unsec’d. Notes
4.875%   11/15/35     112   109,851
5.400%   08/15/54     75   67,917
5.500%   11/15/45     23   21,780
5.625%   11/15/55     98   91,796
Uber Technologies, Inc.,
Sr. Unsec’d. Notes
4.800%   09/15/35     485   471,021
              3,242,609
Investment Companies — 0.0%
Gaci First Investment Co. (Saudi Arabia),
Gtd. Notes, EMTN
3.375%   10/14/32   EUR 500   551,918
MDGH GMTN RSC Ltd. (United Arab Emirates),
Gtd. Notes, GMTN
0.375%   03/10/27   EUR 500   561,113
              1,113,031
Iron/Steel — 0.0%
Cleveland-Cliffs, Inc.,
Gtd. Notes, 144A
6.875%   11/01/29     470   470,001
7.375%   05/01/33     285   278,910
Commercial Metals Co.,
Sr. Unsec’d. Notes, 144A
5.750%   11/15/33     125   123,936
6.000%   12/15/35     175   172,598
              1,045,445
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Leisure Time — 0.0%
NCL Corp. Ltd.,
Sr. Unsec’d. Notes, 144A
6.250%   03/01/30     50   $49,327
6.750%   02/01/32     110   109,175
NCL Finance Ltd.,
Gtd. Notes, 144A
6.125%   03/15/28     425   426,547
Royal Caribbean Cruises Ltd.,
Sr. Unsec’d. Notes, 144A
5.500%   04/01/28     25   25,269
              610,318
Lodging — 0.1%
Boyd Gaming Corp.,
Gtd. Notes, 144A
4.750%   06/15/31     1,210   1,154,421
Hilton Domestic Operating Co., Inc.,
Gtd. Notes, 144A
3.625%   02/15/32     525   476,990
Las Vegas Sands Corp.,
Sr. Unsec’d. Notes
3.500%   08/18/26     140   139,356
Marriott International, Inc.,
Sr. Unsec’d. Notes
5.500%   04/15/37     395   393,548
MGM Resorts International,
Gtd. Notes
5.500%   04/15/27     1,400   1,404,088
6.125%   09/15/29     1,070   1,080,706
6.500%   04/15/32     780   786,332
Studio City Finance Ltd. (Macau),
Gtd. Notes
5.000%   01/15/29     200   187,474
              5,622,915
Machinery-Construction & Mining — 0.0%
BWX Technologies, Inc.,
Gtd. Notes, 144A
4.125%   06/30/28     123   119,819
Machinery-Diversified — 0.0%
Chart Industries, Inc.,
Sr. Sec’d. Notes, 144A
7.500%   01/01/30     150   155,843
Maxim Crane Works Holdings Capital LLC,
Sec’d. Notes, 144A
11.500%   09/01/28     500   520,423
              676,266
Media — 0.1%
CCO Holdings LLC/CCO Holdings Capital Corp.,
Gtd. Notes, 144A
5.375%   06/01/29     170   167,706
Sr. Unsec’d. Notes
4.500%   05/01/32     330   295,072
Sr. Unsec’d. Notes, 144A
4.250%   02/01/31     121   110,082
 
A25
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Media (cont’d.)
4.500%   08/15/30     87   $81,197
4.750%   03/01/30     350   331,968
5.000%   02/01/28     65   64,402
5.125%   05/01/27     75   75,014
Charter Communications Operating LLC/Charter Communications Operating Capital,
Sr. Sec’d. Notes
2.250%   01/15/29     358   334,507
2.800%   04/01/31     333   298,865
3.900%   06/01/52     399   253,791
6.650%   02/01/34     135   140,767
Comcast Corp.,
Gtd. Notes
2.937%   11/01/56     130   72,176
4.800%   05/15/33     115   114,475
DISH DBS Corp.,
Gtd. Notes
5.125%   06/01/29     80   71,493
7.375%   07/01/28     175   169,731
7.750%   07/01/26     2,900   2,892,081
DISH Network Corp.,
Sr. Sec’d. Notes, 144A
11.750%   11/15/27     1,575   1,622,596
TDF Infrastructure SAS (France),
Sr. Unsec’d. Notes
4.125%   10/23/31   EUR 300   344,318
Univision Communications, Inc.,
Sr. Sec’d. Notes, 144A
8.000%   08/15/28     845   858,907
Virgin Media Secured Finance PLC (United Kingdom),
Sr. Sec’d. Notes
4.125%   08/15/30   GBP 1,500   1,714,592
4.250%   01/15/30   GBP 600   699,099
5.250%   05/15/29   GBP 457   576,153
              11,288,992
Mining — 0.0%
Anglo American Capital PLC (South Africa),
Gtd. Notes, EMTN
4.750%   09/21/32   EUR 300   359,040
Arsenal AIC Parent LLC,
Unsec’d. Notes, 144A
11.500%   10/01/31     615   663,833
Fortescue Treasury Pty Ltd. (Australia),
Gtd. Notes, 144A
4.375%   04/01/31     113   106,797
Freeport Indonesia PT (Indonesia),
Sr. Unsec’d. Notes, EMTN
4.763%   04/14/27     200   199,576
Glencore Funding LLC (Australia),
Gtd. Notes, 144A
5.371%   04/04/29     270   275,228
5.634%   04/04/34     538   549,182
6.125%   10/06/28     145   150,032
6.375%   10/06/30     202   214,337
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Mining (cont’d.)
New Gold, Inc. (Canada),
Sr. Unsec’d. Notes, 144A
6.875%   04/01/32     265   $273,589
Novelis Corp.,
Gtd. Notes, 144A
3.875%   08/15/31(a)     379   337,293
6.875%   01/30/30     450   453,959
Vale Canada Ltd. (Canada),
Sr. Unsec’d. Notes
7.200%   09/15/32     300   325,500
              3,908,366
Miscellaneous Manufacturing — 0.0%
Alstom SA (France),
Sub. Notes
5.868%(ff)   05/29/29(oo)   EUR 100   118,626
Illinois Tool Works, Inc.,
Sr. Unsec’d. Notes
3.250%   05/17/28   EUR 500   577,867
Maxam Prill Sarl (Luxembourg),
Sr. Sec’d. Notes
6.000%   07/15/30   EUR 100   117,319
Parker-Hannifin Corp.,
Sr. Unsec’d. Notes
2.900%   03/01/30   EUR 700   788,227
              1,602,039
Multi-National — 0.0%
Africa Finance Corp. (Supranational Bank),
Sr. Unsec’d. Notes, EMTN
5.550%   10/08/29     200   200,978
Corp. Andina de Fomento (Supranational Bank),
Sr. Unsec’d. Notes
3.625%   02/13/30   EUR 100   117,202
4.750%   04/16/29   GBP 400   527,910
5.000%   01/24/29     330   337,491
European Investment Bank (Supranational Bank),
Sr. Unsec’d. Notes, 144A
4.600%   01/30/37   CAD 300   216,808
Sr. Unsec’d. Notes, 144A, MTN
3.590%(s)   05/28/37   CAD 1,000   447,121
Inter-American Development Bank (Supranational Bank),
Unsec’d. Notes, MTN
6.750%   07/15/27     400   411,563
              2,259,073
Oil & Gas — 0.1%
Aker BP ASA (Norway),
Gtd. Notes, 144A
3.100%   07/15/31     425   387,597
Ascent Resources Utica Holdings LLC/ARU Finance Corp.,
Gtd. Notes, 144A
9.000%   11/01/27     25   29,169
Sr. Unsec’d. Notes, 144A
6.625%   10/15/32     335   340,355
 
A26
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
BP Capital Markets PLC,
Gtd. Notes
3.625%(ff)   03/22/29(oo)   EUR 650   $741,010
6.125%(ff)   03/18/35(oo)     260   262,282
6.450%(ff)   12/01/33(oo)     120   124,500
Cenovus Energy, Inc. (Canada),
Sr. Unsec’d. Notes
5.250%   06/15/37     134   129,055
Coterra Energy, Inc.,
Sr. Unsec’d. Notes
5.900%   02/15/55     10   9,537
Crescent Energy Finance LLC,
Gtd. Notes, 144A
7.625%   04/01/32     1,680   1,703,637
9.750%   10/15/30     700   750,278
Diamondback Energy, Inc.,
Gtd. Notes
6.250%   03/15/33     38   40,575
Ecopetrol SA (Colombia),
Sr. Unsec’d. Notes
8.625%   01/19/29     200   211,070
Expand Energy Corp.,
Gtd. Notes
4.750%   02/01/32     450   438,488
5.375%   02/01/29     1,125   1,124,993
5.375%   03/15/30     378   381,308
Gtd. Notes, 144A
5.875%   02/01/29     471   471,049
Hilcorp Energy I LP/Hilcorp Finance Co.,
Sr. Unsec’d. Notes, 144A
5.750%   02/01/29     106   104,412
6.000%   04/15/30     470   457,166
6.000%   02/01/31     106   102,604
6.250%   04/15/32     550   532,000
Permian Resources Operating LLC,
Gtd. Notes, 144A
8.000%   04/15/27     750   750,747
Petrobras Global Finance BV (Brazil),
Gtd. Notes
5.375%   10/01/29   GBP 100   129,911
6.625%   01/16/34   GBP 400   530,764
Santos Finance Ltd. (Australia),
Gtd. Notes, 144A
3.649%   04/29/31     585   546,857
6.875%   09/19/33     100   108,483
SM Energy Co.,
Gtd. Notes, 144A
8.375%   07/01/28     125   128,461
8.625%   11/01/30     475   500,328
8.750%   07/01/31(a)     185   193,523
Tecpetrol SA (Argentina),
Sr. Unsec’d. Notes, 144A
7.625%   11/03/30     100   101,001
TotalEnergies SE (France),
Jr. Sub. Notes
4.500%(ff)   08/19/34(oo)   EUR 250   283,209
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Oil & Gas (cont’d.)
Jr. Sub. Notes, Series NC7, EMTN
1.625%(ff)   10/25/27(oo)   EUR 650   $723,632
Transocean International Ltd.,
Gtd. Notes, 144A
8.250%   05/15/29     310   319,638
              12,657,639
Packaging & Containers — 0.0%
Ball Corp.,
Gtd. Notes
2.875%   08/15/30(a)     1,100   1,001,171
6.000%   06/15/29     875   889,207
Clydesdale Acquisition Holdings, Inc.,
Gtd. Notes, 144A
8.750%   04/15/30     1,215   1,136,543
Sr. Sec’d. Notes, 144A
6.750%   04/15/32     450   425,682
              3,452,603
Pharmaceuticals — 0.0%
AdaptHealth LLC,
Gtd. Notes, 144A
6.125%   08/01/28     500   499,221
Bausch Health Cos., Inc. (Canada),
Gtd. Notes, 144A
5.000%   01/30/28     95   80,241
5.000%   02/15/29     185   135,566
5.250%   01/30/30     535   349,483
5.250%   02/15/31     331   202,890
6.250%   02/15/29     1,516   1,137,000
7.000%   01/15/28     275   239,654
Sr. Sec’d. Notes, 144A
4.875%   06/01/28     275   251,903
Becton Dickinson & Co.,
Gtd. Notes
3.828%   06/07/32   EUR 200   229,844
Cencora, Inc.,
Sr. Unsec’d. Notes
2.700%   03/15/31     20   18,238
4.900%   02/13/36     66   64,627
Organon & Co./Organon Foreign Debt Co-Issuer BV,
Sr. Unsec’d. Notes, 144A
5.125%   04/30/31     375   306,094
              3,514,761
Pipelines — 0.1%
Antero Midstream Partners LP/Antero Midstream Finance Corp.,
Gtd. Notes, 144A
5.375%   06/15/29     1,075   1,071,577
6.625%   02/01/32     280   286,586
Cheniere Energy Partners LP,
Gtd. Notes
4.500%   10/01/29     380   377,711
Columbia Pipelines Operating Co. LLC,
Sr. Unsec’d. Notes, 144A
5.927%   08/15/30     30   31,405
 
A27
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Pipelines (cont’d.)
5.962%   02/15/55     90   $87,691
6.036%   11/15/33     255   268,814
Enbridge, Inc. (Canada),
Sub. Notes
5.500%(ff)   07/15/77     65   64,472
Energy Transfer LP,
Jr. Sub. Notes
6.500%(ff)   02/15/56     285   281,221
Jr. Sub. Notes, Series G
7.125%(ff)   05/15/30(oo)     1,840   1,866,479
Jr. Sub. Notes, Series H
6.500%(ff)   11/15/26(oo)     605   603,845
Sr. Unsec’d. Notes
5.400%   10/01/47     420   373,316
5.550%   05/15/34     85   86,475
5.600%   09/01/34     55   56,111
Enterprise Products Operating LLC,
Gtd. Notes
5.375%(ff)   02/15/78     45   44,468
Gestion Securite de Stocks Securite SA (France),
Sr. Unsec’d. Notes, EMTN
3.000%   11/25/31   EUR 800   903,668
Greensaif Pipelines Bidco Sarl (Saudi Arabia),
Sr. Sec’d. Notes, EMTN
5.853%   02/23/36     275   275,550
MPLX LP,
Sr. Unsec’d. Notes
5.200%   03/01/47     325   287,201
ONEOK, Inc.,
Gtd. Notes
6.050%   09/01/33     300   314,397
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.,
Gtd. Notes, 144A
6.000%   12/31/30     285   283,120
Targa Resources Corp.,
Gtd. Notes
5.550%   08/15/35     400   403,472
Venture Global Calcasieu Pass LLC,
Sr. Sec’d. Notes, 144A
3.875%   08/15/29     25   23,769
4.125%   08/15/31     25   23,251
6.250%   01/15/30     210   214,772
Venture Global LNG, Inc.,
Jr. Sub. Notes, 144A
9.000%(ff)   09/30/29(oo)     1,935   1,926,231
Western Midstream Operating LP,
Sr. Unsec’d. Notes
4.050%   02/01/30     540   524,716
5.300%   03/01/48     30   25,351
              10,705,669
Real Estate — 0.1%
Balder Finland OYJ (Sweden),
Gtd. Notes, EMTN
1.000%   01/20/29   EUR 715   755,558
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Real Estate (cont’d.)
Blackstone Property Partners Europe Holdings Sarl (Luxembourg),
Sr. Unsec’d. Notes, EMTN
1.000%   05/04/28   EUR 300   $326,990
1.625%   04/20/30   EUR 100   104,988
Corp. Inmobiliaria Vesta SAB de CV (Mexico),
Gtd. Notes, 144A
5.500%   01/30/33     200   193,250
Five Point Operating Co. LP,
Gtd. Notes, 144A
8.000%   10/01/30     315   314,454
Heimstaden Bostad Treasury BV (Sweden),
Gtd. Notes, EMTN
1.375%   03/03/27   EUR 300   339,993
Howard Hughes Corp. (The),
Sr. Unsec’d. Notes, 144A
5.875%   03/01/32     1,080   1,038,857
6.125%   03/01/34     1,080   1,038,048
Logicor Financing Sarl (Luxembourg),
Gtd. Notes, EMTN
1.625%   07/15/27   EUR 975   1,101,845
P3 Group Sarl (Luxembourg),
Sr. Unsec’d. Notes, EMTN
1.625%   01/26/29   EUR 100   109,012
Sun Hung Kai Properties Capital Market Ltd. (Hong Kong),
Gtd. Notes, EMTN
3.160%   01/25/28   CNH 2,000   294,646
3.200%   08/14/27   CNH 5,000   731,374
Vonovia SE (Germany),
Sr. Unsec’d. Notes, EMTN
0.625%   12/14/29   EUR 200   206,920
              6,555,935
Real Estate Investment Trusts (REITs) — 0.1%
Alexandria Real Estate Equities, Inc.,
Gtd. Notes
5.500%   10/01/35(a)     400   398,493
CFE Fibra E (Mexico),
Sr. Unsec’d. Notes, 144A
5.875%   09/23/40     197   191,442
Digital Dutch Finco BV,
Gtd. Notes
1.000%   01/15/32   EUR 400   386,054
Diversified Healthcare Trust,
Gtd. Notes
4.375%   03/01/31     275   243,625
Sr. Unsec’d. Notes
4.750%   02/15/28     351   336,987
GLP Capital LP/GLP Financing II, Inc.,
Gtd. Notes
4.000%   01/15/31     420   397,197
Hammerson Ireland Finance DAC (United Kingdom),
Gtd. Notes
1.750%   06/03/27   EUR 500   562,928
Healthpeak OP LLC,
Gtd. Notes
5.375%   02/15/35(a)     600   601,944
 
A28
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Real Estate Investment Trusts (REITs) (cont’d.)
Lineage Europe Finco BV (Netherlands),
Gtd. Notes
4.125%   11/26/31   EUR 800   $895,472
MPT Operating Partnership LP/MPT Finance Corp.,
Gtd. Notes
4.625%   08/01/29(a)     205   159,695
5.000%   10/15/27     15   13,977
Sr. Sec’d. Notes, 144A
8.500%   02/15/32     50   50,754
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer,
Sr. Sec’d. Notes, 144A
4.875%   05/15/29     400   384,883
Prologis LP,
Sr. Unsec’d. Notes
4.200%   02/15/33   CAD 300   214,163
Realty Income Corp.,
Sr. Unsec’d. Notes
3.375%   06/20/31   EUR 1,400   1,570,194
4.875%   07/06/30   EUR 700   839,881
5.000%   10/15/29   GBP 500   655,884
RHP Hotel Properties LP/RHP Finance Corp.,
Gtd. Notes, 144A
6.500%   04/01/32     925   942,100
SBA Communications Corp.,
Sr. Unsec’d. Notes
3.125%   02/01/29     1,770   1,677,429
SELP Finance Sarl (Luxembourg),
Gtd. Notes, EMTN
3.750%   08/10/27   EUR 400   462,701
Starwood Property Trust, Inc.,
Sr. Unsec’d. Notes, 144A
3.625%   07/15/26     750   745,814
Unibail-Rodamco-Westfield SE (France),
Gtd. Notes
4.875%(ff)   07/04/30(oo)   EUR 300   346,138
VICI Properties LP,
Sr. Unsec’d. Notes
4.950%   02/15/30     375   374,155
VICI Properties LP/VICI Note Co., Inc.,
Gtd. Notes, 144A
4.125%   08/15/30     5   4,792
4.250%   12/01/26     20   19,948
4.500%   09/01/26     95   94,876
4.500%   01/15/28     305   303,131
5.750%   02/01/27     5   5,029
WP Carey, Inc.,
Sr. Unsec’d. Notes
4.250%   07/23/32   EUR 500   577,058
WPC Eurobond BV,
Gtd. Notes
1.350%   04/15/28   EUR 100   110,461
              13,567,205
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Retail — 0.1%
1011778 BC ULC/New Red Finance, Inc. (Canada),
Sr. Sec’d. Notes, 144A
3.875%   01/15/28     305   $298,137
Boots Group Finco LP (United Kingdom),
Sr. Sec’d. Notes, 144A
5.375%   08/31/32   EUR 150   173,377
7.375%   08/31/32   GBP 175   230,472
Carvana Co.,
Sr. Sec’d. Notes, 144A
9.000%   06/01/30     1,150   1,197,398
9.000%   06/01/31     773   835,925
EG Global Finance PLC (United Kingdom),
Sr. Sec’d. Notes, 144A
11.000%   11/30/28   EUR 2,000   2,429,805
12.000%   11/30/28     1,300   1,389,375
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.,
Sr. Sec’d. Notes, 144A
4.625%   01/15/29     650   621,966
Gap, Inc. (The),
Gtd. Notes, 144A
3.625%   10/01/29     325   303,746
3.875%   10/01/31     300   272,298
Lithia Motors, Inc.,
Sr. Unsec’d. Notes, 144A
3.875%   06/01/29     1,125   1,071,953
McDonald’s Corp.,
Sr. Unsec’d. Notes
4.857%   05/21/31   CAD 800   600,339
Penske Automotive Group, Inc.,
Gtd. Notes
3.750%   06/15/29     229   217,886
Sally Holdings LLC/Sally Capital, Inc.,
Gtd. Notes
6.750%   04/01/32     400   409,658
              10,052,335
Savings & Loans — 0.0%
Nationwide Building Society (United Kingdom),
Jr. Sub. Notes
5.750%(ff)   06/20/27(oo)   GBP 200   261,705
Semiconductors — 0.0%
Broadcom, Inc.,
Gtd. Notes
2.600%   02/15/33(k)     550   480,456
Sr. Unsec’d. Notes
3.469%   04/15/34     123   110,849
5.200%   07/15/35     41   41,300
Foundry JV Holdco LLC,
Sr. Sec’d. Notes, 144A
6.200%   01/25/37     320   330,889
6.250%   01/25/35     200   209,335
Marvell Technology, Inc.,
Gtd. Notes
2.950%   04/15/31     130   119,311
 
A29
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Semiconductors (cont’d.)
Sr. Unsec’d. Notes
5.450%   07/15/35(a)     357   $362,697
              1,654,837
Software — 0.0%
CoreWeave, Inc.,
Gtd. Notes, 144A
9.250%   06/01/30     480   466,840
Fiserv, Inc.,
Sr. Unsec’d. Notes
4.550%   02/15/31     120   117,464
OAK-Eagle Acquireco, Inc.,
Sr. Sec’d. Notes, 144A
7.250%   07/01/33     145   150,172
Sr. Unsec’d. Notes, 144A
8.750%   07/01/34     225   235,297
Oracle Corp.,
Sr. Unsec’d. Notes
3.950%   03/25/51     95   60,228
4.000%   07/15/46     20   13,486
5.375%   09/27/54     25   19,338
6.000%   08/03/55     119   99,775
6.550%   02/04/46     129   120,438
6.700%   02/04/56     455   421,448
6.850%   02/04/66     130   119,352
Roper Technologies, Inc.,
Sr. Unsec’d. Notes
4.450%   09/15/30     120   118,186
              1,942,024
Telecommunications — 0.1%
AT&T, Inc.,
Sr. Unsec’d. Notes
3.950%   04/30/31   EUR 500   584,236
4.900%   11/01/35(a)     162   157,955
5.550%   11/01/45     75   70,955
5.700%   11/01/54     185   173,422
Black Pearl Compute LLC,
Sr. Sec’d. Notes, 144A
6.125%   02/15/31     590   600,802
Connect Holding II LLC,
Sr. Sec’d. Notes, 144A
10.500%   04/03/31     2,850   2,838,869
Digicel International Finance Ltd./DIFL US LLC (Jamaica),
Sr. Sec’d. Notes, 144A
8.625%   08/01/32(x)     200   202,959
Emirates Telecommunications Group Co. PJSC (United Arab Emirates),
Sr. Unsec’d. Notes, EMTN
0.875%   05/17/33   EUR 300   282,363
Frontier Communications Holdings LLC,
Sr. Sec’d. Notes, 144A
5.000%   05/01/28     1,050   1,050,137
Level 3 Financing, Inc.,
Gtd. Notes, 144A
8.500%   01/15/36     770   803,239
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Telecommunications (cont’d.)
Sr. Sec’d. Notes, 144A
6.875%   06/30/33     660   $672,056
NTT Finance Corp. (Japan),
Sr. Unsec’d. Notes, 144A
4.876%   07/16/30     255   256,253
Sprint Capital Corp.,
Gtd. Notes
8.750%   03/15/32     40   47,598
SV RNO Property Owner 1 LLC,
Sr. Sec’d. Notes, 144A
5.875%   03/01/31     1,680   1,664,830
TalkTalk Telecom Group Ltd. (United Kingdom),
Sec’d. Notes, 144A, Cash coupon 11.750% or PIK 11.750%
11.750%   03/01/28^(d)   GBP 1,341   2
T-Mobile USA, Inc.,
Gtd. Notes
3.200%   02/19/32   EUR 352   395,072
5.000%   02/15/36     240   235,936
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC,
Gtd. Notes, 144A
8.625%   06/15/32     240   244,095
Vmed O2 UK Financing I PLC (United Kingdom),
Sr. Sec’d. Notes
4.000%   01/31/29   GBP 690   852,733
Windstream Services LLC/Windstream Escrow Finance Corp.,
Sr. Sec’d. Notes, 144A
8.250%   10/01/31     275   288,045
              11,421,557
Transportation — 0.1%
CP - Comboios de Portugal EPE (Portugal),
Sr. Unsec’d. Notes
5.700%   03/05/30   EUR 700   860,551
Deutsche Bahn AG (Germany),
Jr. Sub. Notes, Series CB
1.600%(ff)   07/18/29(oo)   EUR 400   419,467
Empresa de Transporte de Pasajeros Metro SA (Chile),
Sr. Unsec’d. Notes
1.398%   10/07/33   CHF 300   372,542
Ferrovie dello Stato Italiane SpA (Italy),
Sr. Unsec’d. Notes, EMTN
3.750%   04/14/27   EUR 400   464,567
La Poste SA (France),
Sr. Unsec’d. Notes, EMTN
0.000%   07/18/29   EUR 300   310,818
1.375%   04/21/32   EUR 500   507,603
Lima Metro Line 2 Finance Ltd. (Peru),
Sr. Sec’d. Notes
5.875%   07/05/34     373   380,069
Regie Autonome des Transports Parisiens EPIC (France),
Sr. Unsec’d. Notes, EMTN
0.400%   12/19/36   EUR 123   118,664
1.875%   05/25/32   EUR 900   943,200
3.250%   05/25/34   EUR 200   222,278
 
A30
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Corporate Bonds (continued)
Transportation (cont’d.)
SNCF Reseau (France),
Sr. Unsec’d. Notes, EMTN
1.500%   05/29/37   EUR 200   $177,411
Sr. Unsec’d. Notes, Series MPLE
4.700%   06/01/35   CAD 400   293,437
Societe Nationale SNCF SACA (France),
Sr. Unsec’d. Notes, EMTN
1.500%   02/02/29   EUR 400   441,621
3.125%   05/25/34   EUR 100   110,528
Star Leasing Co. LLC,
Sec’d. Notes, 144A
7.625%   02/15/30     1,445   1,344,230
XPO, Inc.,
Gtd. Notes, 144A
7.125%   06/01/31     100   103,049
7.125%   02/01/32     295   304,389
              7,374,424
Trucking & Leasing — 0.0%
Penske Truck Leasing Co. LP/PTL Finance Corp.,
Sr. Unsec’d. Notes, 144A
5.250%   07/01/29     490   496,843
 
Total Corporate Bonds

(cost $301,529,064)
  297,797,918
Floating Rate and Other Loans — 0.0%
Auto Parts & Equipment — 0.0%
Clarios Global LP,
Amendment No. 6 Dollar Term Loan, 1 Month SOFR + 2.750%
6.423%(c)   01/28/32     423   421,395
Tenneco, Inc.,
Term A Loan, 3 Month SOFR + 4.850%
8.506%(c)   11/17/28     565   549,492
              970,887
Insurance — 0.0%
Verisure Holding AB (PUBL) (Sweden),
Term Loan, 3 Month EURIBOR + 2.250%
4.281%(c)   11/03/32   EUR 450   518,093
Internet — 0.0%
Diamond Sports Net LLC,
First Lien Exit Term Loan
12.000%   01/02/28     141   23,249
Retail — 0.0%
Peer Holding III BV (Netherlands),
Term B-6 Loan, 3 Month EURIBOR + 2.750%
4.769%(c)   07/01/31   EUR 3,625   4,171,437
 
Total Floating Rate and Other Loans

(cost $5,508,903)
  5,683,666
Residential Mortgage-Backed Securities — 0.0%
Connecticut Avenue Securities Trust,
Series 2022-R01, Class 1B1, 144A, 30 Day Average SOFR + 3.150% (Cap N/A, Floor 0.000%)
6.812%(c)   12/25/41     200   201,805
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Residential Mortgage-Backed Securities
(continued)
Series 2022-R03, Class 1B1, 144A, 30 Day Average SOFR + 6.250% (Cap N/A, Floor 0.000%)
9.912%(c)   03/25/42     90   $93,815
Series 2022-R04, Class 1B1, 144A, 30 Day Average SOFR + 5.250% (Cap N/A, Floor 0.000%)
8.912%(c)   03/25/42     80   83,036
Series 2025-R06, Class 1M1, 144A, 30 Day Average SOFR + 0.950% (Cap N/A, Floor 0.000%)
4.612%(c)   09/25/45     121   120,818
Eagle Re Ltd.,
Series 2021-02, Class M1C, 144A, 30 Day Average SOFR + 3.450% (Cap N/A, Floor 3.450%)
7.112%(c)   04/25/34     42   42,323
Series 2023-01, Class M1A, 144A, 30 Day Average SOFR + 2.000% (Cap N/A, Floor 2.000%)
5.662%(c)   09/26/33     15   14,801
FHLMC Structured Agency Credit Risk REMIC Trust,
Series 2021-HQA03, Class M2, 144A, 30 Day Average SOFR + 2.100% (Cap N/A, Floor 0.000%)
5.762%(c)   09/25/41     300   301,021
Series 2021-HQA04, Class M2, 144A, 30 Day Average SOFR + 2.350% (Cap N/A, Floor 0.000%)
6.012%(c)   12/25/41     200   201,376
Freddie Mac REMIC,
Series 4910, Class MI, IO
4.000%   08/25/49     49   9,803
Series 5020, Class IH, IO
3.000%   08/25/50     232   39,517
GS Mortgage-Backed Securities Trust,
Series 2025-RPL3, Class A1, 144A
4.100%(cc)   07/25/65     94   91,180
MFA Trust,
Series 2025-NQM05, Class A1A, 144A
5.186%(cc)   11/25/70     571   569,166
New Residential Mortgage Loan Trust,
Series 2026-NQM01, Class A1, 144A
4.824%(cc)   11/25/65     363   359,500
Oaktown Re VII Ltd.,
Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 2.900% (Cap N/A, Floor 2.900%)
6.562%(c)   04/25/34     74   75,018
OBX Trust,
Series 2026-NQM02, Class A1A, 144A
4.818%(cc)   12/01/65     467   464,060
Radnor Re Ltd.,
Series 2021-02, Class M1B, 144A, 30 Day Average SOFR + 3.700% (Cap N/A, Floor 3.700%)
7.362%(c)   11/25/31     53   53,660
 
Total Residential Mortgage-Backed Securities

(cost $2,710,646)
  2,720,899
Sovereign Bonds — 1.1%
Agence France Locale (France),
Gtd. Notes, EMTN
3.125%   03/20/34   EUR 500   553,611
 
A31
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds(continued)
Amazon Conservation DAC (Ecuador),
Sr. Sec’d. Notes
6.034%   01/16/42     400   $407,376
Andorra International Bond (Andorra),
Sr. Unsec’d. Notes, EMTN
1.250%   05/06/31   EUR 700   723,921
Autonomous Community of Catalonia (Spain),
Sr. Unsec’d. Notes
4.220%   04/26/35   EUR 100   117,502
Sr. Unsec’d. Notes, EMTN
6.350%   11/30/41   EUR 200   266,447
Autonomous Community of Valencia Spain (Spain),
Sr. Unsec’d. Notes
6.040%   06/10/27   EUR 500   596,124
Bahrain Government International Bond (Bahrain),
Sr. Unsec’d. Notes, EMTN
5.625%   05/18/34     295   259,895
Bpifrance SACA (France),
Gtd. Notes, EMTN
0.625%   07/22/31   EUR 200   200,743
3.375%   11/25/32   EUR 300   342,893
3.375%   05/25/34   EUR 500   563,139
Brazil Minas SPE via State of Minas Gerais (Brazil),
Gov’t. Gtd. Notes
5.333%   02/15/28     878   879,651
Bulgaria Government International Bond (Bulgaria),
Sr. Unsec’d. Notes
4.500%   01/27/33   EUR 215   261,172
Sr. Unsec’d. Notes, Series 12Y
4.625%   09/23/34   EUR 300   366,173
Sr. Unsec’d. Notes, Series 30Y
1.375%   09/23/50   EUR 25   15,459
Sr. Unsec’d. Notes, Series 7Y
4.125%   09/23/29   EUR 200   238,181
Bundesobligation (Germany),
Bonds, Series 192
2.200%   10/10/30   EUR 2,476   2,799,134
Bundesrepublik Deutschland Bundesanleihe (Germany),
Bonds
2.600%   08/15/35   EUR 1,710   1,913,971
2.900%   02/15/36   EUR 290   331,911
Bundesschatzanweisungen (Germany),
Bonds
2.000%   12/16/27   EUR 5,100   5,833,600
2.100%   03/15/28   EUR 1,680   1,922,618
Caisse Francaise de Financement Local SA (France),
Covered Bonds, EMTN
4.680%   03/09/29   CAD 300   219,653
Chile Government International Bond (Chile),
Sr. Unsec’d. Notes
2.550%   01/27/32     1,200   1,063,200
China Government Bond (China),
Sr. Unsec’d. Notes
3.950%   06/29/43   CNH 9,000   1,615,219
China Government International Bond (China),
Sr. Unsec’d. Notes
0.250%   11/25/30   EUR 700   715,013
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds(continued)
City of Milan (Italy),
Sr. Unsec’d. Notes
4.019%   06/29/35   EUR 450   $513,252
City of Ottawa Ontario (Canada),
Unsec’d. Notes
4.200%   07/30/53   CAD 200   128,991
City of Vancouver (Canada),
Sr. Unsec’d. Notes
3.700%   10/18/52   CAD 350   206,778
Colombia Government International Bond (Colombia),
Sr. Unsec’d. Notes
3.750%   09/19/28   EUR 990   1,120,261
5.000%   09/19/32   EUR 130   141,340
5.625%   02/19/36   EUR 230   243,017
Croatia Government International Bond (Croatia),
Sr. Unsec’d. Notes
1.125%   03/04/33   EUR 200   199,772
1.500%   06/17/31   EUR 1,300   1,383,073
Cyprus Government International Bond (Cyprus),
Sr. Unsec’d. Notes, EMTN
1.250%   01/21/40   EUR 1,750   1,441,676
Czech Republic Government Bond (Czech Republic),
Sr. Unsec’d. Notes, Series 151
4.900%   04/14/34   CZK 21,830   1,033,243
Sr. Unsec’d. Notes, Series 154
4.500%   11/11/32   CZK 8,180   381,156
Eagle Funding Luxco Sarl (Mexico),
Sr. Unsec’d. Notes, 144A
5.500%   08/17/30     770   771,925
Ecuador Government International Bond (Ecuador),
Sr. Unsec’d. Notes, 144A
8.750%   01/29/34     200   196,350
El Salvador Government International Bond (El Salvador),
Sr. Unsec’d. Notes
7.650%   06/15/35     88   86,152
Estonia Government International Bond (Estonia),
Sr. Unsec’d. Notes, Series 10Y
4.000%   10/12/32   EUR 150   180,288
Export-Import Bank of India (India),
Sr. Unsec’d. Notes, EMTN
3.250%   01/15/30     200   190,800
3.450%   06/25/26   CNH 1,000   145,767
Gabon Blue Bond Master Trust 2 (Gabon),
Insured Notes
6.097%   08/01/38     800   795,688
Ghana Government International Bond (Ghana),
Sr. Unsec’d. Notes
5.000%(cc)   07/03/35     200   170,000
Hellenic Republic Government Bond (Greece),
Sr. Unsec’d. Notes, 144A
1.875%   02/04/35   EUR 3,500   3,490,250
Hellenic Republic Government International Bond (Greece),
Sr. Unsec’d. Notes
5.200%   07/17/34   EUR 90   110,917
Hong Kong Government International Bond (Hong Kong),
Sr. Unsec’d. Notes, GMTN
3.300%   06/07/33   CNH 2,000   311,427
 
A32
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds(continued)
Hungary Government Bond (Hungary),
Bonds, Series 35/A
7.000%   10/24/35   HUF 575,860   $1,708,793
Hungary Government International Bond (Hungary),
Sr. Unsec’d. Notes
5.500%   03/26/36     200   194,500
Sr. Unsec’d. Notes, Series 10Y
4.500%   06/16/34   EUR 500   572,689
Sr. Unsec’d. Notes, Series 12Y
1.625%   04/28/32   EUR 1,020   1,018,050
Iceland Government International Bond (Iceland),
Sr. Unsec’d. Notes, Series 7Y
0.000%   04/15/28   EUR 700   758,853
Ile-de-France Mobilites (France),
Sr. Unsec’d. Notes, EMTN
0.400%   05/28/31   EUR 600   597,285
Indonesia Government International Bond (Indonesia),
Sr. Unsec’d. Notes
1.100%   03/12/33   EUR 600   557,263
1.400%   10/30/31   EUR 100   100,632
2.900%   10/31/35   CNH 1,000   142,796
Sr. Unsec’d. Notes, EMTN
3.750%   06/14/28   EUR 1,960   2,279,059
Israel Government International Bond (Israel),
Sr. Unsec’d. Notes, EMTN
0.625%   01/18/32   EUR 200   192,481
6.875%   10/21/34   GBP 100   140,384
Sr. Unsec’d. Notes, Series 05Y
5.375%   02/19/30     600   609,000
Sr. Unsec’d. Notes, Series 10Y
5.500%   03/12/34     200   202,625
Italy Buoni Poliennali Del Tesoro (Italy),
Sr. Unsec’d. Notes, Series 10Y
2.500%   12/01/32   EUR 1,705   1,857,125
4.350%   11/01/33   EUR 560   678,236
Sr. Unsec’d. Notes, Series 10Y, 144A
3.650%   08/01/35   EUR 3,870   4,411,947
Sr. Unsec’d. Notes, Series 11Y
3.850%   02/01/35   EUR 35   40,677
Sr. Unsec’d. Notes, Series 15Y, 144A
3.850%   10/01/40   EUR 600   666,703
Sr. Unsec’d. Notes, Series 16Y, 144A
3.250%   03/01/38   EUR 1,085   1,162,500
3.350%   03/01/35   EUR 85   95,350
Sr. Unsec’d. Notes, Series 30Y, 144A
4.300%   10/01/54   EUR 2,950   3,275,019
Ivory Coast Government International Bond (Ivory Coast),
Sr. Unsec’d. Notes, 144A
6.750%   02/25/41     200   175,000
Japan Bank for International Cooperation (Japan),
Gov’t. Gtd. Notes
3.125%   02/15/28   EUR 240   278,092
Japan Government Thirty Year Bond (Japan),
Bonds, Series 85
2.300%   12/20/54   JPY 67,450   322,139
Bonds, Series 86
2.400%   03/20/55   JPY 404,700   1,975,725
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds(continued)
Bonds, Series 88
3.200%   09/20/55   JPY 25,000   $144,587
Japan Government Twenty Year Bond (Japan),
Bonds, Series 186
1.500%   09/20/43   JPY 328,850   1,617,467
Bonds, Series 194
2.700%   09/20/45   JPY 40,000   231,790
Kazakhstan Government International Bond (Kazakhstan),
Sr. Unsec’d. Notes, EMTN
1.500%   09/30/34   EUR 170   160,082
Korea Housing Finance Corp. (South Korea),
Covered Bonds
3.124%   03/18/29   EUR 650   750,085
Latvia Government International Bond (Latvia),
Sr. Unsec’d. Notes, GMTN
0.000%   01/24/29   EUR 100   105,741
0.000%   03/17/31   EUR 200   196,444
Lithuania Government International Bond (Lithuania),
Sr. Unsec’d. Notes, EMTN
2.125%   06/01/32   EUR 600   641,483
Magyar Export-Import Bank Zrt (Hungary),
Gov’t. Gtd. Notes
6.000%   05/16/29   EUR 300   363,559
Metropolitano de Lisboa EPE (Portugal),
Gov’t. Gtd. Notes
4.061%   12/04/26   EUR 300   349,364
Mexican Bonos (Mexico),
Bonds, Series M
7.500%   05/26/33   MXN 33,500   1,705,934
7.750%   05/29/31   MXN 62,350   3,311,076
Sr. Unsec’d. Notes, Series M
7.750%   11/23/34   MXN 27,500   1,402,584
Mexico Government International Bond (Mexico),
Sr. Unsec’d. Notes
1.125%   01/17/30   EUR 1,300   1,345,267
2.250%   08/12/36   EUR 400   359,007
3.500%   09/19/29   EUR 200   226,778
4.500%   03/19/34   EUR 110   123,473
5.125%   03/19/38   EUR 100   111,568
New South Wales Treasury Corp. (Australia),
Local Gov’t. Gtd. Notes
4.750%   02/20/35   AUD 930   609,040
Panama Government International Bond (Panama),
Sr. Unsec’d. Notes
5.662%   02/23/38     230   220,654
Peruvian Government International Bond (Peru),
Sr. Unsec’d. Notes
1.250%   03/11/33   EUR 1,275   1,219,494
Philippine Government International Bond (Philippines),
Sr. Unsec’d. Notes
0.700%   02/03/29   EUR 730   782,715
1.200%   04/28/33   EUR 767   727,182
3.625%   02/04/32   EUR 400   453,093
Platinum for Belize Blue Investment Co. LLC (Belize),
Sec’d. Notes
4.470%   10/20/40     300   266,220
 
A33
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds(continued)
Province of Manitoba (Canada),
Unsec’d. Notes
3.200%   03/05/50   CAD 900   $500,436
Province of Nova Scotia (Canada),
Unsec’d. Notes
3.150%   12/01/51   CAD 500   272,464
Province of Quebec (Canada),
Unsec’d. Notes, MTN
4.597%(s)   10/01/39   CAD 300   115,860
Province of Saskatchewan (Canada),
Unsec’d. Notes
3.300%   06/02/48   CAD 500   290,008
Region of Ile de France (France),
Sr. Unsec’d. Notes, EMTN
2.900%   04/30/31   EUR 200   227,067
Region of Lazio (Italy),
Sr. Unsec’d. Notes
3.088%   03/31/43   EUR 376   394,589
Republic of Austria Government International Bond (Austria),
Sr. Unsec’d. Notes, Series 30Y, 144A, MTN
5.375%   12/01/34   CAD 1,000   783,416
Republic of Italy Government International Bond (Italy),
Sr. Unsec’d. Notes, EMTN
6.000%   08/04/28   GBP 718   970,644
Sr. Unsec’d. Notes, Series 10Y
2.875%   10/17/29     3,500   3,348,369
4.000%   10/17/49     330   251,477
Sr. Unsec’d. Notes, Series 30Y
3.875%   05/06/51     400   292,221
Sr. Unsec’d. Notes, Series 30Y, MTN
5.375%   06/15/33     805   844,397
Republic of Poland Government Bond (Poland),
Bonds, Series 1035
5.000%   10/25/35   PLN 4,922   1,241,538
Republic of South Africa Government Bond (South Africa),
Bonds, Series 2030
8.000%   01/31/30   ZAR 15,025   878,138
Bonds, Series 2040
9.000%   01/31/40   ZAR 7,800   433,563
Republic of South Africa Government International Bond (South Africa),
Sr. Unsec’d. Notes, Series 30Y
5.750%   09/30/49     370   286,750
Romanian Government International Bond (Romania),
Sr. Unsec’d. Notes, 144A
2.625%   12/02/40   EUR 150   108,274
2.750%   04/14/41   EUR 131   94,749
3.624%   05/26/30   EUR 20   22,066
Sr. Unsec’d. Notes, 144A, MTN
1.750%   07/13/30   EUR 174   177,102
3.875%   10/29/35   EUR 20   19,540
Sr. Unsec’d. Notes, EMTN
1.750%   07/13/30   EUR 400   407,132
2.000%   01/28/32   EUR 197   188,680
3.875%   10/29/35   EUR 20   19,540
Saudi Government International Bond (Saudi Arabia),
Sr. Unsec’d. Notes
2.000%   07/09/39   EUR 400   347,083
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
Sovereign Bonds(continued)
Sr. Unsec’d. Notes, EMTN
0.625%   03/03/30   EUR 895   $927,934
Serbia International Bond (Serbia),
Sr. Unsec’d. Notes
3.125%   05/15/27   EUR 900   1,029,212
SFIL SA (France),
Sr. Unsec’d. Notes, EMTN
2.875%   01/22/31   EUR 900   1,018,807
Slovakia Government Bond (Slovakia),
Unsec’d. Notes, Series 233
2.000%   10/17/47   EUR 100   77,015
Slovenia Government Bond (Slovenia),
Sr. Unsec’d. Notes, Series RS91
3.625%   03/11/33   EUR 200   237,214
Slovenia Government International Bond (Slovenia),
Sr. Unsec’d. Notes
5.000%   09/19/33     800   828,568
Societe Des Grands Projets EPIC (France),
Sr. Unsec’d. Notes, EMTN
0.000%   11/25/30   EUR 500   498,877
Spain Government Bond (Spain),
Sr. Unsec’d. Notes, 144A
1.000%   10/31/50   EUR 3,200   1,954,711
1.200%   10/31/40   EUR 800   655,782
4.000%   10/31/54   EUR 1,170   1,324,934
Suriname Government International Bond (Suriname),
Sr. Unsec’d. Notes, 144A
8.500%   11/06/35     200   206,800
Svensk Exportkredit AB (Sweden),
Sr. Preferred Notes, EMTN
3.375%   08/30/30   EUR 400   466,521
Transport for London (United Kingdom),
Sr. Unsec’d. Notes, EMTN
4.650%   12/19/31   GBP 300   385,168
Treasury Corp. of Victoria (Australia),
Local Gov’t. Gtd. Notes
2.250%   09/15/33   AUD 1,150   639,932
Turkiye Government International Bond (Turkey),
Sr. Unsec’d. Notes, Series 7Y
7.125%   02/12/32     360   360,540
United Kingdom Gilt (United Kingdom),
Bonds
4.125%   03/07/31   GBP 9,375   12,218,400
4.250%   12/07/46   GBP 2,000   2,245,276
Uruguay Government International Bond (Uruguay),
Sr. Unsec’d. Notes
3.875%   07/02/40   UYU 2,822   76,393
 
Total Sovereign Bonds

(cost $121,597,631)
  114,553,526
U.S. Government Agency Obligations — 0.1%
Federal Home Loan Mortgage Corp.
5.500%   07/01/53     944   951,655
6.000%   07/01/53     949   974,276
6.750%   03/15/31     430   482,852
Federal National Mortgage Assoc.
2.500%   07/01/50     1,556   1,335,437
 
A34
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Government Agency Obligations(continued)
2.500%   08/01/51     690   $591,070
3.000%   07/01/52     3,474   3,076,202
3.500%   05/01/52     1,472   1,357,235
5.000%   04/01/53     882   873,703
5.000%   08/01/53     209   207,085
5.000%   01/01/56     405   399,241
5.500%   12/01/52     417   421,218
5.500%   05/01/53     600   604,941
6.000%   09/01/52     170   175,730
6.000%   10/01/54     1,685   1,740,082
6.625%   11/15/30     405   450,003
Tennessee Valley Authority, Sr. Unsec’d. Notes
5.625%   06/07/32   GBP 300   403,529
U.S. International Development Finance Corp., U.S. Gov’t. Gtd. Notes
3.250%   10/15/30     264   257,567
 
Total U.S. Government Agency Obligations

(cost $14,338,495)
  14,301,826
U.S. Treasury Obligations — 2.0%
U.S. Treasury Bonds
1.250%   05/15/50     340   161,341
1.875%   02/15/51     1,730   960,420
2.250%   08/15/49     2,738   1,702,694
2.375%   05/15/51(k)     1,535   960,095
2.875%   05/15/49     1,700   1,208,062
3.250%   05/15/42     7,865   6,481,252
3.375%   11/15/48     3,255   2,550,598
4.000%   11/15/42(k)     1,247   1,128,535
4.125%   08/15/44(h)     18,430   16,716,586
4.250%   08/15/54     1,040   931,450
4.375%   08/15/43     3,650   3,445,258
4.500%   02/15/44(h)     17,995   17,204,907
4.625%   05/15/44     9,755   9,460,826
4.625%   11/15/44     4,535   4,387,612
4.750%   11/15/43(k)     10,800   10,668,375
4.750%   02/15/45     9,072   8,914,264
4.750%   05/15/55     1,330   1,294,880
4.750%   08/15/55     401   390,662
4.875%   08/15/45     335   333,953
5.000%   05/15/45(h)     8,890   9,006,681
U.S. Treasury Notes
1.250%   06/30/28     605   571,820
1.875%   02/15/32     40   35,472
2.375%   03/31/29     90   86,316
2.875%   08/15/28     355   347,484
3.250%   06/30/29     160   157,113
3.375%   02/29/28     11,707   11,615,996
3.500%   09/30/26     505   504,310
3.500%   10/31/27     1,901   1,890,626
3.500%   02/15/33(h)     8,120   7,814,231
3.625%   10/31/30     7,945   7,842,584
3.625%   12/31/30     110   108,513
3.750%   05/15/28     7,430   7,419,552
3.750%   10/31/32     3,535   3,461,538
3.750%   11/30/32     8,400   8,221,500
3.875%   05/31/27     7,710   7,714,819
3.875%   03/31/31     730   727,662
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		  Value
 
U.S. Treasury Obligations(continued)
3.875%   08/15/33     65   $63,812
3.875%   08/15/34     7,125   6,943,535
4.000%   05/31/30     2,085   2,092,330
4.000%   07/31/32     90   89,557
4.125%   10/31/26     2,029   2,032,567
4.125%   05/31/32     3,485   3,494,529
4.250%   03/31/33     180   181,238
4.250%   05/15/35     2,555   2,548,213
4.250%   08/15/35     2,905   2,894,560
4.375%   11/30/30     1,105   1,125,028
4.375%   05/15/34     3,610   3,647,792
4.500%   11/15/33     8   8,166
4.625%   06/30/26     1,180   1,182,535
U.S. Treasury Strips Coupon
2.070%(s)   08/15/41(k)     7,920   3,697,314
2.125%(s)   05/15/45     640   239,822
2.305%(s)   02/15/43     3,540   1,510,163
2.416%(s)   05/15/43     2,305   968,749
2.877%(s)   05/15/44     1,625   644,574
3.077%(s)   08/15/44     865   337,926
3.340%(s)   08/15/45(k)     10,235   3,783,133
4.439%(s)   02/15/41(h)(k)     5,110   2,457,013
4.500%(s)   05/15/46     1,010   359,171
4.608%(s)   11/15/48     225   70,507
4.716%(s)   02/15/39(k)     1,685   916,265
4.727%(s)   05/15/50(h)     2,895   839,625
4.730%(s)   05/15/39(k)     2,540   1,361,633
4.865%(s)   05/15/41(k)     3,670   1,738,913
4.879%(s)   11/15/42(h)(k)     6,360   2,752,806
4.920%(s)   08/15/48(k)     825   261,636
4.924%(s)   02/15/49     650   201,032
4.928%(s)   11/15/45     270   98,508
4.996%(s)   11/15/43     1,905   777,249
5.005%(s)   11/15/41     405   186,251
5.021%(s)   08/15/39(k)     265   139,690
5.040%(s)   11/15/39(k)     265   137,563
5.069%(s)   05/15/40(k)     265   133,451
5.083%(s)   02/15/42     425   192,596
5.095%(s)   08/15/40(k)     265   131,444
5.104%(s)   11/15/40(k)     265   129,466
5.136%(s)   08/15/43     505   208,951
5.183%(s)   05/15/42     265   118,350
5.192%(s)   08/15/42     265   116,395
5.220%(s)   02/15/45     1,070   406,730
5.239%(s)   02/15/44     265   106,512
5.246%(s)   11/15/44     265   102,134
5.276%(s)   02/15/40(k)     1,330   680,181
 
Total U.S. Treasury Obligations

(cost $217,534,388)
  208,537,602
    
         
Options Purchased*~ — 0.0%
(cost $15,949)
45,911
 
Total Long-Term Investments, BEFORE LONG-TERM OPTIONS WRITTEN—90.9%

(cost $8,367,680,711)
9,696,853,039
 
A35
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
        Value
Options Written*~ — (0.0)%
(premiums received $0)
$(32,053)
 
TOTAL LONG-TERM INVESTMENTS, NET OF LONG-TERM OPTIONS WRITTEN—90.9%

(cost $8,367,680,711)
9,696,820,986
    
      Shares  
Short-Term Investments — 10.0%
Affiliated Mutual Funds — 9.4%
PGIM Core Ultra Short Bond Fund(wa)
846,398,418 846,398,418
PGIM Institutional Money Market Fund (7-day effective yield 3.829%)

(cost $161,921,779; includes $161,364,383 of cash collateral for securities on loan)(b)(wa)
162,045,176 161,931,744
 
Total Affiliated Mutual Funds

(cost $1,008,320,197)
1,008,330,162
    
Interest
Rate 		  Maturity
Date 		  Principal
Amount
(000)# 		 
U.S. Treasury Obligations(n) — 0.6%
U.S. Treasury Bills
3.573%   04/23/26(h)     420 419,068
3.608%   06/16/26(k)     55,000 54,581,637
3.622%   06/23/26     6,285 6,233,246
 
Total U.S. Treasury Obligations

(cost $61,237,524)
  61,233,951
    
         
Options Purchased*~ — 0.0%
(cost $568,142)
597,041
 
Total Short-Term Investments

(cost $1,070,125,863)
1,070,161,154
 
TOTAL INVESTMENTS, BEFORE SHORT-TERM OPTIONS WRITTEN—100.9%

(cost $9,437,806,574)
10,766,982,140
    
           
Options Written*~ — (0.0)%  
(premiums received $638,634)
(905,799)
 
TOTAL INVESTMENTS, NET OF SHORT-TERM OPTIONS WRITTEN—100.9%

(cost $9,437,167,940)
10,766,076,341
 
Liabilities in excess of other assets(z) — (0.9)%
(96,683,851)
 
Net Assets — 100.0%
$10,669,392,490
    
Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings:
AUD Australian Dollar
BRL Brazilian Real
CAD Canadian Dollar
CHF Swiss Franc
CLP Chilean Peso
CNH Chinese Renminbi
COP Colombian Peso
CZK Czech Koruna
DKK Danish Krone
EUR Euro
GBP British Pound
HKD Hong Kong Dollar
HUF Hungarian Forint
ILS Israeli Shekel
INR Indian Rupee
JPY Japanese Yen
KRW South Korean Won
MXN Mexican Peso
MYR Malaysian Ringgit
NOK Norwegian Krone
NZD New Zealand Dollar
PHP Philippine Peso
PLN Polish Zloty
SEK Swedish Krona
SGD Singapore Dollar
THB Thai Baht
TRY Turkish Lira
TWD New Taiwanese Dollar
USD US Dollar
UYU Uruguayan Peso
ZAR South African Rand
    
144A Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers.
A Annual payment frequency for swaps
ADR American Depositary Receipt
BARC Barclays Bank PLC
BBR New Zealand Bank Bill Rate
BBSW Australian Bank Bill Swap Reference Rate
BNP BNP Paribas S.A.
BNY Bank of New York Mellon
BOA Bank of America, N.A.
BROIS Brazil Overnight Index Swap
BTP Buoni del Tesoro Poliennali
BUBOR Budapest Interbank Offered Rate
CDX Credit Derivative Index
CIBOR Copenhagen Interbank Offered Rate
CITI Citibank, N.A.
CLO Collateralized Loan Obligation
CLOIS Sinacofi Chile Interbank Rate Average
CMBX Commercial Mortgage-Backed Index
CMS Constant Maturity Swap
CORRA Canadian Overnight Repo Rate Average
CVA Certificate Van Aandelen (Bearer)
DAC Designated Activity Company
DB Deutsche Bank AG
EAFE Europe, Australasia, Far East
EMTN Euro Medium Term Note
ETF Exchange-Traded Fund
EURIBOR Euro Interbank Offered Rate
EuroSTR Euro Short-Term Rate
FHLMC Federal Home Loan Mortgage Corporation
GMTN Global Medium Term Note
GSI Goldman Sachs International
 
A36
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
HSBC HSBC Bank PLC
IO Interest Only (Principal amount represents notional)
JPM JPMorgan Chase Bank N.A.
KLIBOR Kuala Lumpur Interbank Offered Rate
KWCDC Korean Won Certificate of Deposit
LP Limited Partnership
M Monthly payment frequency for swaps
MPLE Maple Bonds
MSCI Morgan Stanley Capital International
MSI Morgan Stanley & Co. International PLC
MTN Medium Term Note
N/A Not Applicable
NIBOR Norwegian Interbank Offered Rate
NYSE New York Stock Exchange
OAT Obligations Assimilables du Tresor
OTC Over-the-counter
PIK Payment-in-Kind
PJSC Public Joint-Stock Company
PRFC Preference Shares
PRIBOR Prague Interbank Offered Rate
Q Quarterly payment frequency for swaps
RBC Royal Bank of Canada
REITs Real Estate Investment Trust
REMIC Real Estate Mortgage Investment Conduit
S Semiannual payment frequency for swaps
S&P Standard & Poor’s
SARON Swiss Average Rate Overnight
SHIR Shekel Overnight Interest Rate
SOFR Secured Overnight Financing Rate
SONIA Sterling Overnight Index Average
SORA Singapore Overnight Rate Average
SPDR Standard & Poor’s Depositary Receipts
SSB State Street Bank & Trust Company
STIBOR Stockholm Interbank Offered Rate
STRIPs Separate Trading of Registered Interest and Principal of Securities
T Swap payment upon termination
TAIBOR Taiwan Interbank Offered Rate
TASE Tel Aviv Stock Exchange
TD The Toronto-Dominion Bank
THOR Thai Overnight Repurchase Rate
TONAR Tokyo Overnight Average Rate
TSX Toronto Stock Exchange
UAG UBS AG
USOIS United States Overnight Index Swap
UTS Unit Trust Security
WBC Westpac Banking Corp.
WIBOR Warsaw Interbank Offered Rate
XAMS Amsterdam Stock Exchange
XLON London Stock Exchange
XNGS NASDAQ Global Select Exchange
    
* Non-income producing security.
# Principal or notional amount is shown in U.S. dollars unless otherwise stated.
~ See tables subsequent to the Schedule of Investments for options detail.  
^ Indicates a Level 3 instrument. The aggregate value of Level 3 instruments is $3 and 0.0% of net assets. 
(a) All or a portion of security is on loan. The aggregate market value of such securities, including those sold and pending settlement, is $160,677,813; cash collateral of $161,364,383 (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, 2026.
(cc) Variable rate instrument. The rate shown is based on the latest available information as of March 31, 2026. 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.
(d) Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity.
(ff) Variable rate security. Security may be issued at a fixed coupon rate, which converts to a variable rate at a specified date. Rate shown is the rate in effect as of period end.
(h) Represents security, or a portion thereof, segregated as collateral for OTC derivatives.
(k) Represents security, or a portion thereof, segregated as collateral for centrally cleared/exchange-traded derivatives.
(n) Rate shown reflects yield to maturity at purchased date.
(oo) Perpetual security. Maturity date represents next call date.
(r) Principal or notional amount is less than $500 par.
(s) Represents zero coupon bond or principal only security. Rate represents yield to maturity at purchase date.
(wa) Represents investments in Funds affiliated with the Manager.
(x) The following represents restricted securities that are acquired in unregistered, private sales from the issuing company or from an affiliate of the issuer and is considered restricted as to disposition under federal securities law.
 
(x) Restricted Securities:
Issuer   Acquisition
Date 		  Original
Cost 		  Market
Value 		  Percentage
of
Net Assets
Diamond Sports Group LLC*   01/02/25   $49,725   $3,570   0.0%
Diamond Sports Group LLC, expiring 06/30/26*   01/02/25   —   —   0.0
Digicel International Finance Ltd./DIFL US LLC (Jamaica), Sr. Sec’d. Notes, 144A, 8.625%, 08/01/32   08/13/25   204,500   202,959   0.0
Total       $254,225   $206,529   0.0%
                 
(z) Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments:
A37
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Options Purchased:
OTC Traded
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		  Value
2-Year 30 CMS Curve CAP   Call   BOA   05/13/26     1.30%   —       7,105 $—
2-Year 30 CMS Curve CAP   Call   BOA   05/13/26     1.30%   —       1,217 —
2-Year 30 CMS Curve CAP   Call   CITI   05/13/26     1.30%   —       14,210 —
2-Year 30 CMS Curve CAP   Call   CITI   05/13/26     1.30%   —       2,435 —
Currency Option EUR vs HUF   Call   CITI   04/14/26     500.00   —   EUR   839 3
Currency Option EUR vs USD   Call   MSI   04/14/26     1.25   —   EUR   1,678 6
Currency Option USD vs BRL   Call   DB   04/01/26     5.45   —       986 —
Currency Option USD vs BRL   Call   CITI   04/01/26     7.00   —       986 —
Currency Option USD vs BRL   Call   CITI   04/09/26     6.50   —       974 4
Currency Option USD vs CNH   Call   CITI   06/17/26     6.85   —       3,835 25,737
Currency Option USD vs COP   Call   JPM   04/09/26     4,700.00   —       974 —
Currency Option USD vs COP   Call   CITI   04/28/26     4,500.00   —       942 32
Currency Option USD vs INR   Call   MSI   04/21/26     93.00   —       1,917 27,543
Currency Option USD vs INR   Call   MSI   04/21/26     94.25   —       1,917 14,492
Currency Option USD vs INR   Call   CITI   05/04/26     110.00   —       936 45
Currency Option USD vs KRW   Call   DB   04/09/26     1,700.00   —       1,949 103
Currency Option USD vs KRW   Call   CITI   04/21/26     1,750.00   —       3,311 474
Currency Option USD vs MXN   Call   CITI   04/23/26     23.00   —       945 55
Currency Option USD vs MXN   Call   MSI   04/23/26     23.00   —       942 55
Currency Option USD vs PLN   Call   MSI   06/11/26     3.76   —       1,941 24,481
Currency Option USD vs TRY   Call   BOA   04/10/26     99.00   —       1,949 165
Currency Option USD vs ZAR   Call   MSI   04/01/26     21.00   —       983 —
Currency Option USD vs ZAR   Call   CITI   04/23/26     23.00   —       1,890 68
Currency Option USD vs BRL   Put   CITI   04/14/26     4.60   —       965 —
Currency Option USD vs BRL   Put   CITI   04/16/26     4.60   —       959 1
Currency Option USD vs BRL   Put   MSI   04/22/26     4.60   —       954 2
Currency Option USD vs COP   Put   CITI   04/15/26     3,300.00   —       960 1
Currency Option USD vs COP   Put   MSI   05/04/26     3,200.00   —       2,816 35
Currency Option USD vs CZK   Put   MSI   05/04/26     19.00   —       936 5
Currency Option USD vs HUF   Put   CITI   06/11/26     260.00   —       1,941 29
Currency Option USD vs INR   Put   CITI   04/07/26     85.00   —       1,475 —
Currency Option USD vs INR   Put   MSI   04/21/26     88.00   —       1,917 49
Currency Option USD vs INR   Put   MSI   04/21/26     88.00   —       1,917 49
Currency Option USD vs KRW   Put   CITI   04/21/26     1,455.00   —       3,311 5,791
Currency Option USD vs MXN   Put   MSI   04/16/26     16.00   —       1,921 1
Currency Option USD vs MXN   Put   CITI   04/28/26     16.00   —       939 2
Currency Option USD vs MXN   Put   MSI   04/28/26     16.00   —       944 2
Currency Option USD vs THB   Put   MSI   04/16/26     29.00   —       959 1
Currency Option USD vs TRY   Put   BARC   04/24/26     46.00   —       942 15,239
Currency Option USD vs TRY   Put   BOA   10/22/26     53.50   —       1,489 69,013
Currency Option USD vs TRY   Put   CITI   10/22/26     53.50   —       1,489 69,013
Total OTC Traded (cost $400,325)                       $252,496  
    
OTC Swaptions    
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike   Receive   Pay   Notional
Amount
(000)# 		  Value
1-Year Interest Rate Swap, 02/07/29   Call   JPM   02/03/28   2.24%   2.24%(A)   3 Month EURIBOR(Q)/ 2.079%   EUR 10,045   $23,091
1-Year Interest Rate Swap, 02/07/29   Call   JPM   02/03/28   2.24%   2.24%(A)   3 Month EURIBOR(Q)/ 2.079%   EUR 2,010   4,621
5-Year Interest Rate Swap, 08/13/31   Call   CITI   08/11/26   3.29%   3.29%(A)   1 Day SOFR(A)/ 3.680%     2,939   14,890
A38
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Options Purchased (continued):
OTC Swaptions    
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike   Receive   Pay   Notional
Amount
(000)# 		  Value
5-Year Interest Rate Swap, 08/13/31   Call   CITI   08/11/26   3.29%   3.29%(A)   1 Day SOFR(A)/ 3.680%     588   $2,979
1-Year Interest Rate Swap, 09/23/27   Put   CITI   09/21/26   2.80%   3 Month EURIBOR(Q)/ 2.079%   2.80%(A)   EUR 11,150   33,750
1-Year Interest Rate Swap, 09/23/27   Put   CITI   09/21/26   2.80%   3 Month EURIBOR(Q)/ 2.079%   2.80%(A)   EUR 2,305   6,977
1-Year Interest Rate Swap, 09/23/27   Put   CITI   09/21/26   10.29%   3 Month EURIBOR(Q)/ 2.079%   10.29%(A)   EUR 11,150   62
1-Year Interest Rate Swap, 09/23/27   Put   CITI   09/21/26   10.29%   3 Month EURIBOR(Q)/ 2.079%   10.29%(A)   EUR 2,305   13
1-Year Interest Rate Swap, 03/23/28   Put   JPM   03/19/27   3.82%   1 Day SOFR(T)/ 3.680%   3.82%(T)     16,450   45,651
1-Year Interest Rate Swap, 03/23/28   Put   JPM   03/19/27   11.07%   1 Day SOFR(T)/ 3.680%   11.07%(T)     16,450   37
2-Year Interest Rate Swap, 09/30/28   Put   CITI   09/28/26   3.61%   1 Day SOFR(A)/ 3.680%   3.61%(A)     3,400   18,159
2-Year Interest Rate Swap, 09/30/28   Put   CITI   09/28/26   7.22%   1 Day SOFR(A)/ 3.680%   7.22%(A)     3,400   40
2-Year Interest Rate Swap, 11/06/28   Put   BNP   11/04/26   3.21%   1 Day SOFR(A)/ 3.680%   3.21%(A)     18,010   183,405
2-Year Interest Rate Swap, 11/06/28   Put   BNP   11/04/26   3.21%   1 Day SOFR(A)/ 3.680%   3.21%(A)     3,425   34,879
2-Year Interest Rate Swap, 11/06/28   Put   BNP   11/04/26   8.19%   1 Day SOFR(A)/ 3.680%   8.19%(A)     18,010   161
2-Year Interest Rate Swap, 11/06/28   Put   BNP   11/04/26   8.19%   1 Day SOFR(A)/ 3.680%   8.19%(A)     3,425   31
5-Year Interest Rate Swap, 08/13/31   Put   CITI   08/11/26   3.89%   1 Day SOFR(A)/ 3.680%   3.89%(A)     2,939   18,091
5-Year Interest Rate Swap, 08/13/31   Put   CITI   08/11/26   3.89%   1 Day SOFR(A)/ 3.680%   3.89%(A)     588   3,619
Total OTC Swaptions (cost $183,766)       $390,456
Total Options Purchased (cost $584,091)       $642,952
Options Written:
OTC Traded
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		  Value
Currency Option EUR vs HUF   Call   CITI   04/14/26     400.00   —   EUR   839 $(6,257)
Currency Option EUR vs USD   Call   MSI   04/14/26     1.17   —   EUR   1,678 (5,323)
A39
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Options Written (continued):
OTC Traded
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike Contracts   Notional
Amount
(000)# 		  Value
Currency Option USD vs BRL   Call   CITI   04/01/26     5.45   —       986 $—
Currency Option USD vs BRL   Call   CITI   04/09/26     5.29   —       974 (3,496)
Currency Option USD vs COP   Call   JPM   04/09/26     3,800.00   —       974 (750)
Currency Option USD vs COP   Call   CITI   04/28/26     3,800.00   —       942 (5,132)
Currency Option USD vs INR   Call   MSI   04/21/26     94.00   —       1,917 (16,556)
Currency Option USD vs INR   Call   MSI   04/21/26     96.00   —       1,917 (5,679)
Currency Option USD vs INR   Call   CITI   05/04/26     95.60   —       936 (5,308)
Currency Option USD vs KRW   Call   DB   04/09/26     1,480.00   —       1,949 (42,520)
Currency Option USD vs KRW   Call   CITI   04/21/26     1,470.00   —       3,311 (96,959)
Currency Option USD vs MXN   Call   MSI   04/23/26     17.85   —       942 (15,209)
Currency Option USD vs MXN   Call   CITI   04/23/26     18.25   —       945 (7,691)
Currency Option USD vs TRY   Call   BOA   04/10/26     45.50   —       1,949 (10,050)
Currency Option USD vs ZAR   Call   CITI   04/23/26     18.00   —       1,890 (7,248)
Currency Option USD vs BRL   Put   CITI   04/14/26     5.12   —       965 (3,527)
Currency Option USD vs BRL   Put   CITI   04/16/26     5.15   —       959 (5,731)
Currency Option USD vs BRL   Put   MSI   04/22/26     5.25   —       954 (17,183)
Currency Option USD vs COP   Put   CITI   04/15/26     3,700.00   —       960 (12,132)
Currency Option USD vs COP   Put   MSI   05/04/26     3,670.00   —       2,816 (33,577)
Currency Option USD vs CZK   Put   MSI   05/04/26     21.40   —       936 (13,801)
Currency Option USD vs HUF   Put   CITI   06/11/26     320.00   —       1,941 (21,200)
Currency Option USD vs INR   Put   CITI   04/07/26     91.25   —       1,475 (301)
Currency Option USD vs INR   Put   MSI   04/21/26     92.50   —       1,917 (5,220)
Currency Option USD vs INR   Put   MSI   04/21/26     93.50   —       1,917 (12,361)
Currency Option USD vs MXN   Put   MSI   04/16/26     17.70   —       1,921 (7,779)
Currency Option USD vs MXN   Put   MSI   04/28/26     17.70   —       944 (6,093)
Currency Option USD vs MXN   Put   CITI   04/28/26     18.00   —       939 (13,892)
Currency Option USD vs THB   Put   MSI   04/16/26     32.15   —       959 (4,359)
Currency Option USD vs TRY   Put   BOA   10/22/26     48.00   —       1,489 (6,595)
Currency Option USD vs TRY   Put   CITI   10/22/26     48.00   —       1,489 (6,595)
Total OTC Traded (premiums received $373,180)                       $(398,524)  
    
OTC Swaptions
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike   Receive   Pay   Notional
Amount
(000)# 		  Value
1-Year Interest Rate Swap, 02/07/29   Call   JPM   02/03/28   1.74%   3 Month EURIBOR(Q)/ 2.079%   1.74%(A)   EUR 10,045   $(11,072)
1-Year Interest Rate Swap, 02/07/29   Call   JPM   02/03/28   1.74%   3 Month EURIBOR(Q)/ 2.079%   1.74%(A)   EUR 2,010   (2,215)
5-Year Interest Rate Swap, 08/13/31   Call   CITI   08/11/26   3.09%   1 Day SOFR(A)/ 3.680%   3.09%(A)     2,939   (9,119)
5-Year Interest Rate Swap, 08/13/31   Call   CITI   08/11/26   3.09%   1 Day SOFR(A)/ 3.680%   3.09%(A)     588   (1,824)
1-Year Interest Rate Swap, 09/23/27   Put   CITI   09/21/26   3.24%   3.24%(A)   3 Month EURIBOR(Q)/ 2.079%   EUR 22,300   (33,936)
1-Year Interest Rate Swap, 09/23/27   Put   CITI   09/21/26   3.24%   3.24%(A)   3 Month EURIBOR(Q)/ 2.079%   EUR 4,610   (7,016)
1-Year Interest Rate Swap, 03/23/28   Put   JPM   03/19/27   4.27%   4.27%(T)   1 Day SOFR(T)/ 3.680%     32,900   (49,296)
A40
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Options Written (continued):
OTC Swaptions
Description   Call/
Put 		  Counterparty   Expiration
Date 		  Strike   Receive   Pay   Notional
Amount
(000)# 		  Value
2-Year Interest Rate Swap, 09/30/28   Put   CITI   09/28/26   3.86%   3.86%(A)   1 Day SOFR(A)/ 3.680%     3,400   $(11,602)
2-Year Interest Rate Swap, 09/30/28   Put   CITI   09/28/26   4.11%   4.11%(A)   1 Day SOFR(A)/ 3.680%     3,400   (7,164)
2-Year Interest Rate Swap, 11/06/28   Put   BNP   11/04/26   3.49%   3.49%(A)   1 Day SOFR(A)/ 3.680%     18,010   (123,575)
2-Year Interest Rate Swap, 11/06/28   Put   BNP   11/04/26   3.49%   3.49%(A)   1 Day SOFR(A)/ 3.680%     3,425   (23,500)
2-Year Interest Rate Swap, 11/06/28   Put   BNP   11/04/26   3.69%   3.69%(A)   1 Day SOFR(A)/ 3.680%     18,010   (90,829)
2-Year Interest Rate Swap, 11/06/28   Put   BNP   11/04/26   3.69%   3.69%(A)   1 Day SOFR(A)/ 3.680%     3,425   (17,273)
5-Year Interest Rate Swap, 08/13/31   Put   CITI   08/11/26   3.69%   3.69%(A)   1 Day SOFR(A)/ 3.680%     2,939   (28,203)
5-Year Interest Rate Swap, 08/13/31   Put   CITI   08/11/26   3.69%   3.69%(A)   1 Day SOFR(A)/ 3.680%     588   (5,643)
CDX.NA.HY.45.V2, 12/20/30   Put   MSI   04/15/26   $105.00   5.00%(Q)   CDX.NA.HY.45.V2(Q)     6,180   (44,974)
CDX.NA.IG.45.V1, 12/20/30   Put   RBC   04/15/26   0.70%   1.00%(Q)   CDX.NA.IG.45.V1(Q)     30,050   (14,315)
CDX.NA.IG.45.V1, 12/20/30   Put   CITI   04/15/26   0.75%   1.00%(Q)   CDX.NA.IG.45.V1(Q)     22,380   (7,114)
CDX.NA.IG.45.V1, 12/20/30   Put   GSI   05/20/26   0.70%   1.00%(Q)   CDX.NA.IG.45.V1(Q)     34,630   (50,658)
Total OTC Swaptions (premiums received $265,454)       $(539,328)
Total Options Written (premiums received $638,634)       $(937,852)
    
Futures contracts outstanding at March 31, 2026:
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions:
295   2 Year U.S. Treasury Notes   Jun. 2026   $61,196,367   $(473,010)
10   5 Year Canadian Government Bonds   Jun. 2026   815,829   (7)
1,953   5 Year U.S. Treasury Notes   Jun. 2026   211,274,935   (3,010,925)
142   10 Year Australian Treasury Bonds   Jun. 2026   10,556,950   (65,226)
69   10 Year Canadian Government Bonds   Jun. 2026   5,952,620   (42,470)
49   10 Year Euro-Bund   Jun. 2026   7,101,670   (173,441)
33   10 Year Korean Treasury Bonds   Jun. 2026   2,339,830   (27,363)
48   10 Year U.K. Gilt   Jun. 2026   5,577,545   (285,673)
1,220   10 Year U.S. Treasury Notes   Jun. 2026   135,477,194   (2,340,559)
542   10 Year U.S. Ultra Treasury Notes   Jun. 2026   61,525,471   (1,214,387)
354   20 Year U.S. Treasury Bonds   Jun. 2026   40,311,750   (1,314,356)
4   30 Year Euro Buxl   Jun. 2026   509,776   (7,031)
309   30 Year U.S. Ultra Treasury Bonds   Jun. 2026   36,017,813   (1,034,984)
44   Euro Schatz Index   Jun. 2026   5,378,170   (43,737)
A41
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Futures contracts outstanding at March 31, 2026 (continued):
Number
of
Contracts 		  Type   Expiration
Date 		  Current
Notional
Amount 		  Value /
Unrealized
Appreciation
(Depreciation)
Long Positions (cont’d):
26   Euro-BTP Italian Government Bond   Jun. 2026   $3,494,458   $(43,425)
36   Euro-OAT   Jun. 2026   4,938,762   (120,671)
769   Mini MSCI EAFE Index   Jun. 2026   111,547,295   (1,676,535)
423   Russell 2000 E-Mini Index   Jun. 2026   53,133,030   (197,509)
928   S&P 500 E-Mini Index   Jun. 2026   304,882,800   (7,774,673)
72   Short Euro-BTP   Jun. 2026   8,808,964   (66,074)
                (19,912,056)
Short Positions:
180   2 Year U.S. Treasury Notes   Jun. 2026   37,340,156   240,592
27   5 Year Euro-Bobl   Jun. 2026   3,602,334   76,516
168   5 Year U.S. Treasury Notes   Jun. 2026   18,174,188   172,211
16   10 Year Euro-Bund   Jun. 2026   2,318,913   32,075
77   10 Year U.S. Treasury Notes   Jun. 2026   8,550,610   153,234
30   10 Year U.S. Ultra Treasury Notes   Jun. 2026   3,405,469   58,934
127   20 Year U.S. Treasury Bonds   Jun. 2026   14,462,125   166,415
24   30 Year Euro Buxl   Jun. 2026   3,058,657   31,624
69   British Pound Currency   Jun. 2026   5,703,713   44,512
26   Canadian Dollar Currency   Jun. 2026   1,872,000   36,078
469   Euro Currency   Jun. 2026   67,919,994   905,928
5   Euro Schatz Index   Jun. 2026   611,156   6,873
                1,924,992
                $(17,987,064)
Bond forward contracts outstanding at March 31, 2026:
Purchase Bond
Forwards 		  Counterparty   Settlement
Date 		  Notional
Amount
(000)# 		  Strike
Price 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Bond Forward Contracts:        
U.S. Treasury Bond                              
2.000%, 02/15/50   CITI   06/12/26     33,300   $59.75   $19,897,880   $19,410,870   $—   $(487,010)
4.750%, 11/15/43   BNP   07/29/26     3,350   $99.35   3,328,324   3,300,122   —   (28,202)
                      $23,226,204   $22,710,992   $—   $(515,212)
Forward foreign currency exchange contracts outstanding at March 31, 2026:
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
Australian Dollar,
Expiring 04/15/26   CITI   AUD 520   $347,304   $358,567   $11,263   $—
Expiring 04/15/26   GSI   AUD 747   528,020   515,294   —   (12,726)
Expiring 04/15/26   MSI   AUD 2,104   1,488,560   1,451,445   —   (37,115)
Expiring 04/15/26   MSI   AUD 579   389,223   399,542   10,319   —
Expiring 04/15/26   WBC   AUD 979   657,633   675,400   17,767   —
Expiring 04/15/26   WBC   AUD 611   431,143   421,341   —   (9,802)
Expiring 04/28/26   BNP   AUD 488   334,193   336,624   2,431   —
Expiring 04/28/26   GSI   AUD 4,114   2,897,317   2,837,289   —   (60,028)
Expiring 04/28/26   MSI   AUD 248   174,901   171,247   —   (3,654)
Brazilian Real,
Expiring 04/02/26   GSI   BRL 37,493   7,219,387   7,235,636   16,249   —
Expiring 05/05/26   DB   BRL 16,161   3,067,732   3,098,047   30,315   —
A42
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Forward foreign currency exchange contracts outstanding at March 31, 2026 (continued):
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Brazilian Real (cont’d.),
Expiring 05/05/26   DB   BRL 5,020   $945,000   $962,310   $17,310   $—
Expiring 05/05/26   RBC   BRL 16,161   3,072,924   3,098,048   25,124   —
British Pound,
Expiring 04/22/26   BARC   GBP 231   304,118   305,242   1,124   —
Expiring 04/28/26   BARC   GBP 14   18,689   18,410   —   (279)
Expiring 04/28/26   CITI   GBP 30   39,800   39,514   —   (286)
Expiring 04/28/26   CITI   GBP 28   38,027   37,454   —   (573)
Expiring 04/28/26   CITI   GBP 28   36,787   36,427   —   (360)
Expiring 04/28/26   GSI   GBP 164   217,741   217,204   —   (537)
Expiring 04/28/26   HSBC   GBP 95   125,512   125,169   —   (343)
Expiring 04/28/26   HSBC   GBP 44   58,646   58,119   —   (527)
Expiring 04/28/26   MSI   GBP 320   421,456   423,008   1,552   —
Expiring 06/17/26   GSI   GBP 1,442   1,918,504   1,907,518   —   (10,986)
Expiring 06/17/26   MSI   GBP 497   663,624   657,542   —   (6,082)
Expiring 06/17/26   MSI   GBP 183   244,606   242,294   —   (2,312)
Expiring 06/17/26   MSI   GBP 153   206,343   202,860   —   (3,483)
Expiring 06/17/26   MSI   GBP 137   181,814   181,157   —   (657)
Expiring 06/17/26   WBC   GBP 1,158   1,532,657   1,532,101   —   (556)
Canadian Dollar,
Expiring 04/15/26   GSI   CAD 175   126,611   125,883   —   (728)
Expiring 04/15/26   MSI   CAD 615   450,349   442,246   —   (8,103)
Expiring 04/15/26   WBC   CAD 348   251,544   250,328   —   (1,216)
Expiring 04/22/26   MSI   CAD 120   87,258   86,261   —   (997)
Expiring 04/28/26   BNP   CAD 5,492   4,054,081   3,952,562   —   (101,519)
Expiring 04/28/26   CITI   CAD 96   70,304   69,203   —   (1,101)
Expiring 04/28/26   HSBC   CAD 63   45,603   45,346   —   (257)
Chilean Peso,
Expiring 06/17/26   CITI   CLP 923,984   991,000   998,212   7,212   —
Chinese Renminbi,
Expiring 04/28/26   BNP   CNH 7,905   1,151,075   1,150,305   —   (770)
Expiring 05/13/26   CITI   CNH 2,621   380,169   381,705   1,536   —
Expiring 05/13/26   MSI   CNH 4,834   701,411   704,116   2,705   —
Expiring 06/17/26   BOA   CNH 3,309   481,000   483,067   2,067   —
Expiring 06/17/26   HSBC   CNH 4,194   613,000   612,179   —   (821)
Colombian Peso,
Expiring 06/17/26   BOA   COP 3,568,774   945,000   954,077   9,077   —
Expiring 06/17/26   JPM   COP 6,034,835   1,580,379   1,613,355   32,976   —
Czech Koruna,
Expiring 04/22/26   BNP   CZK 22,059   1,073,000   1,039,151   —   (33,849)
Expiring 04/22/26   BOA   CZK 16,353   783,000   770,353   —   (12,647)
Expiring 04/22/26   GSI   CZK 14,828   721,000   698,513   —   (22,487)
Expiring 04/22/26   JPM   CZK 22,069   1,075,000   1,039,599   —   (35,401)
Expiring 06/17/26   CITI   CZK 11,258   526,704   530,640   3,936   —
Danish Krone,
Expiring 06/17/26   CITI   DKK 849   130,707   131,857   1,150   —
Expiring 06/17/26   GSI   DKK 611   94,014   94,855   841   —
Expiring 06/17/26   WBC   DKK 3,161   486,658   490,987   4,329   —
Euro,
Expiring 04/22/26   BARC   EUR 1,616   1,864,171   1,870,333   6,162   —
Expiring 04/22/26   HSBC   EUR 3,154   3,728,693   3,649,405   —   (79,288)
Expiring 04/22/26   HSBC   EUR 1,840   2,142,588   2,128,809   —   (13,779)
Expiring 04/22/26   HSBC   EUR 1,219   1,441,038   1,410,395   —   (30,643)
Expiring 04/22/26   JPM   EUR 98   112,850   113,550   700   —
Expiring 04/22/26   MSI   EUR 9,166   10,807,503   10,605,726   —   (201,777)
Expiring 04/22/26   MSI   EUR 7,347   8,753,095   8,501,751   —   (251,344)
A43
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Forward foreign currency exchange contracts outstanding at March 31, 2026 (continued):
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Euro (cont’d.),
Expiring 04/22/26   MSI   EUR 5,591   $6,609,630   $6,469,969   $—   $(139,661)
Expiring 04/22/26   MSI   EUR 3,260   3,883,882   3,772,357   —   (111,525)
Expiring 04/22/26   MSI   EUR 3,088   3,557,916   3,573,266   15,350   —
Expiring 04/22/26   MSI   EUR 1,129   1,359,422   1,306,955   —   (52,467)
Expiring 04/22/26   UAG   EUR 1,434   1,648,773   1,658,989   10,216   —
Expiring 04/28/26   BARC   EUR 435   501,732   503,192   1,460   —
Expiring 04/28/26   CITI   EUR 620   720,373   717,993   —   (2,380)
Expiring 04/28/26   CITI   EUR 143   164,503   165,888   1,385   —
Expiring 04/28/26   GSI   EUR 1,673   1,954,094   1,936,601   —   (17,493)
Expiring 04/28/26   GSI   EUR 585   679,281   676,680   —   (2,601)
Expiring 04/28/26   HSBC   EUR 3,242   3,782,213   3,752,166   —   (30,047)
Expiring 04/28/26   HSBC   EUR 1,156   1,333,098   1,337,553   4,455   —
Expiring 04/28/26   HSBC   EUR 242   280,328   279,945   —   (383)
Expiring 04/28/26   HSBC   EUR 123   143,139   142,822   —   (317)
Expiring 06/17/26   CITI   EUR 585   676,556   678,347   1,791   —
Expiring 06/17/26   GSI   EUR 1,136   1,305,775   1,317,721   11,946   —
Expiring 06/17/26   GSI   EUR 385   444,132   446,007   1,875   —
Expiring 06/17/26   MSI   EUR 3,771   4,359,380   4,374,694   15,314   —
Expiring 06/17/26   MSI   EUR 644   745,766   747,250   1,484   —
Hong Kong Dollar,
Expiring 05/13/26   GSI   HKD 27,280   3,501,091   3,487,485   —   (13,606)
Expiring 05/13/26   MSI   HKD 2,978   382,148   380,690   —   (1,458)
Indian Rupee,
Expiring 06/17/26   CITI   INR 36,195   388,560   381,318   —   (7,242)
Expiring 06/17/26   HSBC   INR 54,929   572,000   578,679   6,679   —
Israeli Shekel,
Expiring 04/15/26   CITI   ILS 1,431   462,428   455,427   —   (7,001)
Expiring 04/15/26   MSI   ILS 6,383   2,034,294   2,031,484   —   (2,810)
Japanese Yen,
Expiring 04/22/26   BARC   JPY 67,512   425,093   426,307   1,214   —
Expiring 04/22/26   MSI   JPY 102,960   656,104   650,146   —   (5,958)
Expiring 04/28/26   BARC   JPY 45,729   288,089   288,942   853   —
Expiring 04/28/26   BARC   JPY 6,325   40,157   39,962   —   (195)
Expiring 04/28/26   GSI   JPY 53,182   337,286   336,028   —   (1,258)
Expiring 04/28/26   HSBC   JPY 115,779   737,923   731,548   —   (6,375)
Expiring 04/28/26   HSBC   JPY 9,000   56,554   56,866   312   —
Expiring 04/28/26   HSBC   JPY 8,476   53,157   53,558   401   —
Expiring 05/13/26   CITI   JPY 601,569   3,864,089   3,805,208   —   (58,881)
Expiring 05/13/26   GSI   JPY 195,404   1,255,435   1,236,024   —   (19,411)
Expiring 05/13/26   MSI   JPY 1,017,155   6,534,964   6,433,992   —   (100,972)
Expiring 05/13/26   MSI   JPY 675,139   4,351,124   4,270,575   —   (80,549)
Mexican Peso,
Expiring 04/28/26   CITI   MXN 34,179   1,939,629   1,902,522   —   (37,107)
Expiring 06/17/26   BARC   MXN 17,184   974,000   952,322   —   (21,678)
Expiring 06/17/26   JPM   MXN 30,128   1,706,028   1,669,636   —   (36,392)
New Taiwanese Dollar,
Expiring 06/17/26   CITI   TWD 46,759   1,468,000   1,454,929   —   (13,071)
Expiring 06/17/26   MSI   TWD 94,623   2,973,566   2,944,267   —   (29,299)
Expiring 06/17/26   MSI   TWD 32,164   1,012,000   1,000,816   —   (11,184)
New Zealand Dollar,
Expiring 04/15/26   MSI   NZD 682   394,556   392,112   —   (2,444)
Expiring 04/28/26   CITI   NZD 7,166   4,184,878   4,121,996   —   (62,882)
Expiring 04/28/26   CITI   NZD 387   221,281   222,690   1,409   —
Norwegian Krone,
Expiring 06/17/26   MSI   NOK 14,997   1,550,166   1,547,759   —   (2,407)
A44
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Forward foreign currency exchange contracts outstanding at March 31, 2026 (continued):
Purchase
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts (cont’d.):
Philippine Peso,
Expiring 06/17/26   BOA   PHP 38,901   $649,000   $638,607   $—   $(10,393)
Expiring 06/17/26   HSBC   PHP 93,658   1,554,000   1,537,508   —   (16,492)
Polish Zloty,
Expiring 04/22/26   BARC   PLN 4,761   1,341,200   1,282,393   —   (58,807)
Expiring 04/22/26   TD   PLN 2,049   574,800   552,017   —   (22,783)
Expiring 04/28/26   HSBC   PLN 1,351   363,616   364,024   408   —
Singapore Dollar,
Expiring 05/13/26   CITI   SGD 3,779   2,991,159   2,948,247   —   (42,912)
Expiring 05/13/26   WBC   SGD 563   445,838   439,425   —   (6,413)
Expiring 06/17/26   BOA   SGD 799   630,000   624,914   —   (5,086)
South African Rand,
Expiring 04/28/26   BNP   ZAR 44,866   2,664,790   2,645,579   —   (19,211)
Expiring 06/17/26   BARC   ZAR 15,808   927,395   928,705   1,310   —
South Korean Won,
Expiring 05/13/26   MSI   KRW 1,510,541   1,036,062   1,005,321   —   (30,741)
Expiring 06/17/26   BARC   KRW 499,144   327,888   332,553   4,665   —
Expiring 06/17/26   JPM   KRW 911,023   620,094   606,967   —   (13,127)
Swedish Krona,
Expiring 04/28/26   MSI   SEK 411   44,015   43,496   —   (519)
Expiring 06/17/26   CITI   SEK 37,576   4,008,462   3,984,871   —   (23,591)
Expiring 06/17/26   GSI   SEK 13,454   1,435,194   1,426,764   —   (8,430)
Swiss Franc,
Expiring 06/17/26   CITI   CHF 1,214   1,552,801   1,531,625   —   (21,176)
Expiring 06/17/26   GSI   CHF 9,140   11,688,920   11,528,246   —   (160,674)
Expiring 06/17/26   WBC   CHF 167   213,560   210,641   —   (2,919)
Thai Baht,
Expiring 06/17/26   GSI   THB 20,876   637,000   637,016   16   —
Turkish Lira,
Expiring 04/13/26   GSI   TRY 65,704   1,430,239   1,454,668   24,429   —
Expiring 04/13/26   UAG   TRY 86,565   1,895,455   1,916,521   21,066   —
Expiring 04/28/26   BARC   TRY 11,163   242,454   241,911   —   (543)
Expiring 04/28/26   CITI   TRY 84,791   1,836,331   1,837,494   1,163   —
              $188,855,332   $186,920,774   335,346   (2,269,904)
    
Sale
Contracts 		  Counterparty   Notional
Amount
(000) 		  Value at
Settlement
Date 		  Current
Value 		  Unrealized
Appreciation 		  Unrealized
Depreciation
OTC Forward Foreign Currency Exchange Contracts:
Australian Dollar,
Expiring 04/15/26   CITI   AUD 1,045   $699,011   $720,859   $—   $(21,848)
Expiring 04/15/26   GSI   AUD 971   648,839   669,950   —   (21,111)
Expiring 04/15/26   MSI   AUD 2,233   1,576,298   1,540,431   35,867   —
Expiring 04/15/26   WBC   AUD 40   26,925   27,799   —   (874)
Expiring 04/22/26   JPM   AUD 1,437   960,028   991,155   —   (31,127)
Expiring 04/28/26   GSI   AUD 2,717   1,912,411   1,874,138   38,273   —
Expiring 04/28/26   HSBC   AUD 485   344,652   334,433   10,219   —
Expiring 04/28/26   MSI   AUD 3,641   2,568,008   2,511,190   56,818   —
Brazilian Real,
Expiring 04/02/26   CITI   BRL 5,172   974,000   998,115   —   (24,115)
Expiring 04/02/26   DB   BRL 16,161   3,087,011   3,118,760   —   (31,749)
Expiring 04/02/26   RBC   BRL 16,161   3,092,328   3,118,761   —   (26,433)
British Pound,
Expiring 04/22/26   BNY   GBP 4,957   6,668,528   6,560,256   108,272   —
Expiring 04/22/26   BNY   GBP 771   1,036,739   1,019,906   16,833   —
A45
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Forward foreign currency exchange contracts outstanding at March 31, 2026 (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.):
British Pound (cont’d.),
Expiring 04/22/26   HSBC   GBP 1,738   $2,314,969   $2,300,778   $14,191   $—
Expiring 04/22/26   SSB   GBP 272   372,810   360,610   12,200   —
Expiring 04/28/26   BARC   GBP 41   54,236   54,120   116   —
Expiring 04/28/26   BARC   GBP 24   32,177   31,993   184   —
Expiring 04/28/26   BNP   GBP 27   36,026   35,732   294   —
Expiring 04/28/26   BNP   GBP 23   30,722   30,475   247   —
Expiring 04/28/26   CITI   GBP 10,737   14,242,289   14,210,547   31,742   —
Expiring 04/28/26   CITI   GBP 31   41,066   40,861   205   —
Expiring 04/28/26   CITI   GBP 9   11,736   11,647   89   —
Expiring 04/28/26   HSBC   GBP 56   73,802   73,633   169   —
Expiring 04/28/26   HSBC   GBP 36   48,855   48,282   573   —
Expiring 04/28/26   HSBC   GBP 27   36,505   36,232   273   —
Expiring 04/28/26   HSBC   GBP 23   31,259   30,928   331   —
Expiring 06/17/26   CITI   GBP 2,764   3,658,725   3,657,432   1,293   —
Expiring 06/17/26   GSI   GBP 3,200   4,235,539   4,234,121   1,418   —
Expiring 06/17/26   MSI   GBP 6,468   8,618,094   8,558,622   59,472   —
Canadian Dollar,
Expiring 04/15/26   CITI   CAD 3,742   2,705,059   2,692,031   13,028   —
Expiring 04/15/26   CITI   CAD 832   610,380   598,485   11,895   —
Expiring 04/15/26   GSI   CAD 873   630,871   627,834   3,037   —
Expiring 04/15/26   GSI   CAD 813   592,520   584,602   7,918   —
Expiring 04/15/26   MSI   CAD 415   299,939   298,164   1,775   —
Expiring 04/22/26   CITI   CAD 5,412   3,916,394   3,894,224   22,170   —
Expiring 04/28/26   BARC   CAD 62   45,213   44,416   797   —
Expiring 04/28/26   BARC   CAD 61   44,249   44,253   —   (4)
Expiring 04/28/26   BARC   CAD 10   7,513   7,449   64   —
Expiring 04/28/26   BARC   CAD 4   2,572   2,573   —   (1)
Expiring 04/28/26   GSI   CAD 8,992   6,580,356   6,471,730   108,626   —
Expiring 04/28/26   HSBC   CAD 61   44,652   44,264   388   —
Expiring 04/28/26   HSBC   CAD 31   22,648   22,107   541   —
Expiring 04/28/26   HSBC   CAD 25   18,615   18,264   351   —
Expiring 04/28/26   HSBC   CAD 16   11,513   11,378   135   —
Expiring 04/28/26   HSBC   CAD 11   8,172   8,028   144   —
Expiring 04/28/26   HSBC   CAD 4   2,994   2,937   57   —
Chilean Peso,
Expiring 06/17/26   CITI   CLP 1,112,397   1,241,999   1,201,761   40,238   —
Chinese Renminbi,
Expiring 05/13/26   GSI   CNH 7,056   1,023,741   1,027,736   —   (3,995)
Expiring 06/17/26   BNP   CNH 69,011   10,095,977   10,073,794   22,183   —
Expiring 06/17/26   BNP   CNH 41,376   6,053,118   6,039,818   13,300   —
Colombian Peso,
Expiring 04/06/26   CITI   COP 3,845,400   986,000   1,045,130   —   (59,130)
Expiring 04/06/26   CITI   COP 3,708,750   989,000   1,007,991   —   (18,991)
Expiring 04/06/26   CITI   COP 3,634,575   989,000   987,831   1,169   —
Czech Koruna,
Expiring 04/22/26   BARC   CZK 29,696   1,412,000   1,398,932   13,068   —
Expiring 04/22/26   CITI   CZK 10,878   532,000   512,438   19,562   —
Expiring 04/22/26   DB   CZK 20,947   1,000,000   986,762   13,238   —
Expiring 04/22/26   TD   CZK 155,588   7,490,990   7,329,380   161,610   —
Expiring 04/28/26   MSI   CZK 27,635   1,297,978   1,301,934   —   (3,956)
Expiring 06/17/26   MSI   CZK 11,282   531,841   531,766   75   —
Danish Krone,
Expiring 06/17/26   MSI   DKK 8,659   1,340,604   1,345,171   —   (4,567)
Expiring 06/17/26   MSI   DKK 5,384   833,683   836,383   —   (2,700)
Expiring 06/17/26   MSI   DKK 4,314   668,787   670,162   —   (1,375)
A46
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Forward foreign currency exchange contracts outstanding at March 31, 2026 (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.):
Danish Krone (cont’d.),
Expiring 06/17/26   MSI   DKK 2,762   $428,374   $429,066   $—   $(692)
Euro,
Expiring 04/22/26   BARC   EUR 7,847   9,155,571   9,079,726   75,845   —
Expiring 04/22/26   BARC   EUR 323   386,117   374,199   11,918   —
Expiring 04/22/26   BNP   EUR 552   653,165   638,606   14,559   —
Expiring 04/22/26   BNP   EUR 341   406,372   394,887   11,485   —
Expiring 04/22/26   BOA   EUR 1,672   1,941,000   1,934,774   6,226   —
Expiring 04/22/26   CITI   EUR 6,194   7,350,000   7,167,024   182,976   —
Expiring 04/22/26   CITI   EUR 1,506   1,737,000   1,743,080   —   (6,080)
Expiring 04/22/26   CITI   EUR 838   960,000   970,153   —   (10,153)
Expiring 04/22/26   CITI   EUR 832   957,104   962,732   —   (5,628)
Expiring 04/22/26   DB   EUR 31,370   36,732,795   36,299,001   433,794   —
Expiring 04/22/26   DB   EUR 6,726   7,875,629   7,782,622   93,007   —
Expiring 04/22/26   HSBC   EUR 103   120,404   119,485   919   —
Expiring 04/22/26   MSI   EUR 692   820,000   801,301   18,699   —
Expiring 04/22/26   SSB   EUR 36,598   42,728,386   42,348,835   379,551   —
Expiring 04/22/26   SSB   EUR 7,847   9,161,103   9,079,726   81,377   —
Expiring 04/22/26   SSB   EUR 3,765   4,345,742   4,356,702   —   (10,960)
Expiring 04/22/26   SSB   EUR 156   183,867   180,101   3,766   —
Expiring 04/22/26   SSB   EUR 106   122,525   122,353   172   —
Expiring 04/22/26   UAG   EUR 36,598   42,710,634   42,348,833   361,801   —
Expiring 04/28/26   BARC   EUR 1,895   2,179,878   2,193,285   —   (13,407)
Expiring 04/28/26   CITI   EUR 283   325,419   327,211   —   (1,792)
Expiring 04/28/26   GSI   EUR 1,678   1,928,752   1,942,682   —   (13,930)
Expiring 04/28/26   HSBC   EUR 46,309   53,265,907   53,602,418   —   (336,511)
Expiring 04/28/26   HSBC   EUR 178   206,716   205,849   867   —
Expiring 04/28/26   MSI   EUR 1,336   1,547,206   1,545,948   1,258   —
Expiring 06/17/26   CITI   EUR 1,239   1,424,302   1,437,313   —   (13,011)
Expiring 06/17/26   GSI   EUR 439   508,748   509,225   —   (477)
Expiring 06/17/26   MSI   EUR 1,493   1,727,999   1,731,829   —   (3,830)
Expiring 06/17/26   WBC   EUR 6,201   7,127,752   7,192,946   —   (65,194)
Hong Kong Dollar,
Expiring 05/13/26   GSI   HKD 3,135   401,404   400,749   655   —
Hungarian Forint,
Expiring 04/22/26   BOA   HUF 53,858   158,000   161,691   —   (3,691)
Expiring 04/28/26   CITI   HUF 566,889   1,661,790   1,701,102   —   (39,312)
Indian Rupee,
Expiring 06/17/26   BOA   INR 54,042   570,000   569,329   671   —
Israeli Shekel,
Expiring 04/15/26   CITI   ILS 915   295,021   291,258   3,763   —
Japanese Yen,
Expiring 04/28/26   BARC   JPY 4,020   25,342   25,398   —   (56)
Expiring 04/28/26   BNP   JPY 664,763   4,188,790   4,200,307   —   (11,517)
Expiring 04/28/26   HSBC   JPY 10,905   68,432   68,903   —   (471)
Expiring 04/28/26   HSBC   JPY 9,565   60,327   60,437   —   (110)
Expiring 04/28/26   HSBC   JPY 5,480   34,854   34,627   227   —
Expiring 04/28/26   HSBC   JPY 5,224   33,048   33,010   38   —
Expiring 05/13/26   GSI   JPY 812,837   5,247,213   5,141,580   105,633   —
Expiring 05/13/26   GSI   JPY 58,713   372,586   371,388   1,198   —
Expiring 05/13/26   WBC   JPY 659,085   4,234,352   4,169,029   65,323   —
Mexican Peso,
Expiring 04/28/26   CITI   MXN 34,366   1,920,711   1,912,950   7,761   —
Expiring 04/28/26   HSBC   MXN 47,354   2,649,010   2,635,870   13,140   —
Expiring 06/17/26   JPM   MXN 10,815   594,000   599,353   —   (5,353)
Expiring 06/17/26   MSI   MXN 10,538   590,000   584,021   5,979   —
A47
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Forward foreign currency exchange contracts outstanding at March 31, 2026 (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.):
New Zealand Dollar,
Expiring 04/28/26   CITI   NZD 126   $74,249   $72,523   $1,726   $—
Polish Zloty,
Expiring 04/22/26   BARC   PLN 6,914   1,913,534   1,862,523   51,011   —
Expiring 04/22/26   JPM   PLN 3,584   960,000   965,312   —   (5,312)
Expiring 04/28/26   HSBC   PLN 4,846   1,315,038   1,305,281   9,757   —
Singapore Dollar,
Expiring 04/28/26   GSI   SGD 2,368   1,856,305   1,845,545   10,760   —
Expiring 05/13/26   CITI   SGD 340   269,688   265,277   4,411   —
Expiring 06/17/26   MSI   SGD 12,208   9,663,189   9,547,058   116,131   —
South African Rand,
Expiring 04/28/26   MSI   ZAR 16,204   960,356   955,515   4,841   —
Expiring 06/17/26   CITI   ZAR 8,148   486,000   478,658   7,342   —
Expiring 06/17/26   GSI   ZAR 21,097   1,292,339   1,239,454   52,885   —
South Korean Won,
Expiring 05/13/26   GSI   KRW 1,512,536   1,037,334   1,006,649   30,685   —
Swedish Krona,
Expiring 04/28/26   BARC   SEK 6,266   675,843   662,961   12,882   —
Swiss Franc,
Expiring 04/22/26   CITI   CHF 200   251,932   250,384   1,548   —
Expiring 04/22/26   MSI   CHF 101   125,938   126,087   —   (149)
Expiring 04/28/26   BNP   CHF 3,143   4,013,431   3,944,163   69,268   —
Expiring 06/17/26   MSI   CHF 1,785   2,289,837   2,251,967   37,870   —
Expiring 06/17/26   WBC   CHF 352   451,666   444,491   7,175   —
Expiring 06/17/26   WBC   CHF 264   338,137   332,738   5,399   —
Thai Baht,
Expiring 06/17/26   HSBC   THB 268,027   8,545,002   8,178,655   366,347   —
Expiring 06/17/26   HSBC   THB 46,662   1,474,000   1,423,872   50,128   —
Turkish Lira,
Expiring 04/13/26   BARC   TRY 86,477   1,905,664   1,914,566   —   (8,902)
Expiring 04/13/26   UAG   TRY 71,766   1,576,419   1,588,868   —   (12,449)
Expiring 04/28/26   BARC   TRY 10,593   230,208   229,561   647   —
Expiring 04/28/26   BARC   TRY 5,327   115,566   115,435   131   —
              $413,408,988   $410,661,951   3,568,000   (820,963)
                      $3,903,346   $(3,090,867)
Cross currency exchange contracts outstanding at March 31, 2026:
Settlement   Type   Notional
Amount
(000) 		  In Exchange
For (000) 		  Unrealized
Appreciation 		  Unrealized
Depreciation 		  Counterparty
OTC Cross Currency Exchange Contracts:
04/22/26   Buy   CZK 39,145   EUR 1,604   $—   $(11,987)   BOA
04/22/26   Buy   EUR 911   GBP 796   1,092   —   SSB
04/28/26   Buy   AUD 488   JPY 53,447   —   (1,079)   CITI
04/28/26   Buy   AUD 968   NZD 1,157   2,189   —   BARC
04/28/26   Buy   CAD 461   GBP 251   —   (116)   CITI
04/28/26   Buy   CAD 461   GBP 251   415   —   GSI
04/28/26   Buy   CAD 927   EUR 581   —   (5,293)   CITI
04/28/26   Buy   CHF 265   EUR 291   —   (3,399)   BNP
04/28/26   Buy   CHF 530   EUR 579   —   (5,154)   GSI
04/28/26   Buy   EUR 209   PLN 896   384   —   MSI
04/28/26   Buy   EUR 579   AUD 963   6,240   —   GSI
04/28/26   Buy   EUR 585   GBP 506   7,577   —   GSI
04/28/26   Buy   EUR 585   GBP 507   6,179   —   GSI
A48
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Cross currency exchange contracts outstanding at March 31, 2026 (continued):
Settlement   Type   Notional
Amount
(000) 		  In Exchange
For (000) 		  Unrealized
Appreciation 		  Unrealized
Depreciation 		  Counterparty
OTC Cross Currency Exchange Contracts (cont’d.):
04/28/26   Buy   EUR 587   CAD 926   $13,250   $—   CITI
04/28/26   Buy   GBP 502   JPY 106,716   —   (9,228)   GSI
04/28/26   Buy   GBP 507   CAD 924   5,460   —   GSI
04/28/26   Buy   JPY 18,141   AUD 162   2,789   —   BNP
04/28/26   Buy   JPY 35,580   AUD 318   5,630   —   GSI
04/28/26   Buy   JPY 53,182   GBP 251   4,396   —   GSI
04/28/26   Buy   JPY 53,267   GBP 253   1,463   —   MSI
04/28/26   Buy   JPY 53,369   GBP 253   2,104   —   GSI
04/28/26   Buy   JPY 53,704   AUD 480   8,311   —   GSI
04/28/26   Buy   NZD 572   JPY 53,069   —   (6,083)   CITI
04/28/26   Buy   SEK 6,271   EUR 579   —   (6,699)   BARC
04/28/26   Buy   SEK 6,325   EUR 587   —   (10,765)   BNP
04/28/26   Buy   SEK 17,993   EUR 1,661   —   (18,595)   BARC
04/28/26   Buy   TRY 27,158   EUR 488   23,637   —   HSBC
                    $91,116   $(78,398)    
Credit default swap agreements outstanding at March 31, 2026:
Reference Entity/
Obligation 		  Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Packaged Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1)**:
Arab Republic of Egypt   06/20/31   1.000%(Q)     500   $66,406   $83   $66,323   DB
Dominican Republic   06/20/31   1.000%(Q)     500   18,832   83   18,749   DB
Federal Republic of Nigeria   06/20/31   1.000%(Q)     500   49,153   83   49,070   DB
Federation of Malaysia   06/20/31   1.000%(Q)     500   (12,535)   83   (12,618)   DB
Federative Republic of Brazil   06/20/31   1.000%(Q)     1,750   31,527   291   31,236   DB
Islamic Republic of Pakistan   06/20/31   1.000%(Q)     500   94,622   83   94,539   DB
Kingdom of Bahrain   06/20/31   1.000%(Q)     500   45,095   83   45,012   DB
Kingdom of Morocco   06/20/31   1.000%(Q)     500   (474)   83   (557)   DB
Kingdom of Saudi Arabia   06/20/31   1.000%(Q)     1,750   (12,280)   291   (12,571)   DB
Oriental Republic of Uruguay   06/20/31   1.000%(Q)     500   (7,205)   83   (7,288)   DB
People’s Republic of China   06/20/31   1.000%(Q)     1,750   (39,135)   291   (39,426)   DB
Republic of Angola   06/20/31   1.000%(Q)     500   89,209   83   89,126   DB
Republic of Argentina   06/20/31   1.000%(Q)     500   105,100   83   105,017   DB
Republic of Chile   06/20/31   1.000%(Q)     500   (8,700)   83   (8,783)   DB
Republic of Colombia   06/20/31   1.000%(Q)     1,500   86,870   249   86,621   DB
Republic of Costa Rica   06/20/31   1.000%(Q)     500   11,764   83   11,681   DB
Republic of Ecuador   06/20/31   1.000%(Q)     500   82,180   83   82,097   DB
Republic of El Salvador   06/20/31   1.000%(Q)     500   61,828   83   61,745   DB
Republic of Guatemala   06/20/31   1.000%(Q)     500   14,612   83   14,529   DB
Republic of Indonesia   06/20/31   1.000%(Q)     1,750   1,458   291   1,167   DB
Republic of Ivory Coast   06/20/31   1.000%(Q)     500   47,039   83   46,956   DB
Republic of Kazakhstan   06/20/31   1.000%(Q)     500   2,037   83   1,954   DB
Republic of Kenya   06/20/31   1.000%(Q)     500   84,105   83   84,022   DB
Republic of Panama   06/20/31   1.000%(Q)     750   9,766   125   9,641   DB
Republic of Peru   06/20/31   1.000%(Q)     500   (3,237)   83   (3,320)   DB
Republic of Philippines   06/20/31   1.000%(Q)     500   (2,275)   83   (2,358)   DB
Republic of South Africa   06/20/31   1.000%(Q)     1,750   78,258   291   77,967   DB
Republic of Turkey   06/20/31   1.000%(Q)     1,750   155,961   291   155,670   DB
Sultanate of Oman   06/20/31   1.000%(Q)     500   (658)   83   (741)   DB
United Mexican States   06/20/31   1.000%(Q)     1,750   7,049   291   6,758   DB
                    $1,056,372   $4,154   $1,052,218    
    
A49
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Credit default swap agreements outstanding at March 31, 2026 (continued):
Reference Entity/
Obligation 		  Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied
Credit
Spread at
March 31,
2026(4) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Packaged Credit Default Swap Agreement on credit indices— Sell Protection(2)**:
CDX.EM.45.V1   06/20/31   1.000%(Q)     25,000   1.936%   $(1,045,770)   $(6,646)   $(1,039,124)   DB
** The Portfolio entered into multiple credit default swap agreements in a packaged trade consisting of two parts. The Portfolio bought/sold protection on an Emerging Market CDX Index and bought/sold protection on the countries which comprise the index. The upfront premium is attached to the index of the trade for the Emerging Markets CDX package(s). Each swap is priced individually. If any of the component swaps are closed out early, the Index exposure will be reduced by an amount proportionate to the terminated swap(s).
    
Reference Entity/
Obligation 		  Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Buy Protection(1):
China Development Bank   06/20/29   1.000%(Q)     480   $(9,023)   $(3,163)   $(5,860)   JPM
Industrial & Commercial Bank of China Ltd.   06/20/29   1.000%(Q)     480   (9,398)   (2,764)   (6,634)   JPM
Israel Electric Corp. Ltd.   03/20/32   1.000%(Q)     400   904   14,195   (13,291)   BARC
Republic of France   12/20/30   0.250%(Q)     245   (1,102)   (690)   (412)   BARC
Republic of Italy   12/20/27   1.000%(Q)   EUR 1,475   (27,683)   (17,801)   (9,882)   BARC
Republic of Italy   12/20/30   1.000%(Q)     370   (10,216)   (13,192)   2,976   BARC
Republic of South Africa   12/20/28   1.000%(Q)     900   6,310   47,896   (41,586)   JPM
Republic of South Africa   12/20/28   1.000%(Q)     600   4,206   31,249   (27,043)   MSI
                    $(46,002)   $55,730   $(101,732)    
    
Reference Entity/
Obligation 		  Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied
Credit
Spread at
March 31,
2026(4) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2):
Alphabet, Inc.   06/20/30   1.000%(Q)     340   0.415%   $7,902   $7,898   $4   GSI
Bank of Nova Scotia   12/20/26   1.000%(Q)     169   0.184%   1,049   867   182   CITI
Barclays Bank PLC   06/20/26   1.000%(Q)   EUR 220   0.307%   479   379   100   GSI
Barclays Bank PLC   12/20/26   1.000%(Q)     41   0.386%   194   200   (6)   GSI
Comision Federal de Electricidad   06/20/28   1.000%(Q)     70   1.641%   (923)   (227)   (696)   BARC
Deutsche Telekom AG   06/20/26   1.000%(Q)   EUR 98   0.124%   260   243   17   JPM
European Investment Bank   12/20/26   —%(Q)     413   0.040%   (118)   (149)   31   BARC
Federative Republic of Brazil   06/20/26   1.000%(Q)     135   0.485%   199   173   26   BARC
Federative Republic of Brazil   06/20/27   1.000%(Q)     100   0.610%   502   552   (50)   BARC
Kingdom of Norway   12/20/26   —%(Q)     560   0.036%   (146)   (199)   53   BARC
Kingdom of Saudi Arabia   06/20/26   1.000%(Q)     65   0.375%   112   103   9   CITI
Kingdom of Spain   06/20/26   1.000%(Q)   EUR 200   0.034%   577   481   96   BARC
Kingdom of Spain   06/20/26   —%(Q)   EUR 100   0.057%   (15)   (5)   (10)   BARC
National Bank of Canada   12/20/26   1.000%(Q)     94   0.311%   496   493   3   CITI
Nomura Holdings, Inc.   06/20/26   1.000%(Q)     438   0.249%   879   710   169   BARC
Oracle Corp.   06/20/30   1.000%(Q)     150   1.622%   (3,486)   2,885   (6,371)   GSI
People’s Republic of China   06/20/29   1.000%(Q)     960   0.442%   16,594   7,689   8,905   JPM
Petroleos Mexicanos   06/20/26   1.000%(Q)     90   1.886%   (147)   (120)   (27)   BARC
A50
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Credit default swap agreements outstanding at March 31, 2026 (continued):
Reference Entity/
Obligation 		  Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied
Credit
Spread at
March 31,
2026(4) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Credit Default Swap Agreements on corporate and/or sovereign issues - Sell Protection(2)(cont’d.):
Petroleos Mexicanos   06/20/26   1.000%(T)     75   1.886%   $(123)   $(92)   $(31)   BARC
Republic of Chile   06/20/28   1.000%(Q)     58   0.349%   830   796   34   BARC
Republic of Estonia   12/20/26   1.000%(Q)     190   0.171%   1,196   259   937   JPM
Republic of France   12/20/30   0.250%(Q)     245   0.310%   (618)   (1,421)   803   BARC
Republic of France   06/20/34   0.250%(Q)     520   0.529%   (10,110)   (9,423)   (687)   CITI
Republic of France   12/20/34   0.250%(Q)     1,855   0.555%   (41,338)   (38,773)   (2,565)   BOA
Republic of France   12/20/34   0.250%(Q)     920   0.555%   (20,502)   (27,454)   6,952   BOA
Republic of France   12/20/34   0.250%(Q)     575   0.555%   (12,814)   (16,346)   3,532   BOA
Republic of France   06/20/35   0.250%(Q)     1,550   0.578%   (38,822)   (50,395)   11,573   BARC
Republic of France   06/20/35   0.250%(Q)     690   0.578%   (17,282)   (22,759)   5,477   BARC
Republic of Italy   12/20/30   1.000%(Q)     370   0.370%   10,217   9,886   331   BARC
Republic of Italy   12/20/34   1.000%(Q)     330   0.645%   8,655   (1,789)   10,444   CITI
Republic of Italy   12/20/34   1.000%(Q)     330   0.645%   8,655   (1,789)   10,444   CITI
Republic of Ivory Coast   06/20/27   1.000%(Q)     303   1.781%   (2,715)   (902)   (1,813)   BARC
Republic of Panama   06/20/26   1.000%(Q)     159   0.516%   224   171   53   CITI
Republic of Romania   12/20/26   1.000%(Q)     25   0.611%   78   88   (10)   BOA
Republic of South Africa   12/20/26   1.000%(Q)     55   0.728%   125   217   (92)   BARC
Siemens AG   06/20/26   1.000%(Q)   EUR 140   0.104%   378   358   20   JPM
Siemens AG   06/20/26   1.000%(Q)   EUR 109   0.104%   294   255   39   GSI
Skandinaviska Enskilda Banken AB   12/20/26   1.000%(Q)     272   0.100%   1,852   1,711   141   MSI
Slovak Republic   12/20/27   1.000%(Q)     100   0.183%   1,409   1,384   25   BARC
Socialist Republic of Vietnam   12/20/27   1.000%(Q)     200   0.452%   1,904   2,010   (106)   BARC
SoftBank Group Corp.   06/20/26   1.000%(Q)     195   1.662%   (222)   (215)   (7)   GSI
Standard Chartered PLC   12/20/26   1.000%(Q)     113   0.200%   687   662   25   MSI
State of Qatar   12/20/26   1.000%(Q)     170   0.244%   981   1,058   (77)   BARC
U.S. Treasury Notes   06/20/26   0.250%(Q)   EUR 435   0.174%   128   147   (19)   BARC
Wells Fargo & Co.   06/20/26   1.000%(Q)     182   0.227%   374   341   33   JPM
Wells Fargo & Co.   06/20/26   1.000%(Q)     162   0.227%   333   304   29   JPM
                      $(81,818)   $(129,738)   $47,920    
    
Reference Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		Implied Credit
Spread at
March 31,
2026(4) 		  Value at
Trade Date 		  Value at
March 31,
2026 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Credit Default Swap Agreements on credit indices - Sell Protection(2):  
CDX.NA.HY.45.V2 12/20/30   5.000%(Q)     5,148   3.649%   $306,039   $279,682   $(26,357)  
CDX.NA.HY.46.V1 06/20/31   5.000%(Q)     890   3.857%   33,093   44,124   11,031  
CDX.NA.IG.46.V1 06/20/31   1.000%(Q)     42,750   0.631%   694,981   752,155   57,174  
CDX.NA.IG.46.V1 06/20/31   1.000%(Q)     111,010   0.631%   1,804,675   1,953,139   148,464  
                      $2,838,788   $3,029,100   $190,312  
    
Reference Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied
Credit
Spread at
March 31,
2026(4) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Credit Default Swap Agreements on credit indices - Sell Protection(2):
CMBX.NA.17.AAA 12/15/56   0.500%(M)   645   *   $(9,046)   $(8,002)   $(1,044)   CITI
CMBX.NA.17.AAA 12/15/56   0.500%(M)   500   *   (7,006)   (12,066)   5,060   CITI
A51
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Credit default swap agreements outstanding at March 31, 2026 (continued):
Reference Entity/
Obligation 		Termination
Date 		  Fixed
Rate 		  Notional
Amount
(000)#(3) 		  Implied
Credit
Spread at
March 31,
2026(4) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Credit Default Swap Agreements on credit indices - Sell Protection(2) (cont’d.):
CMBX.NA.18.AAA 12/17/57   0.500%(M)   800   *   $194   $927   $(733)   GSI
CMBX.NA.19.AAA 12/17/58   0.500%(M)   720   *   (1,116)   (81)   (1,035)   CITI
CMBX.NA.19.AAA 12/17/58   0.500%(M)   660   *   (1,023)   (139)   (884)   GSI
                    $(17,997)   $(19,361)   $1,364    
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.
* When an implied credit spread is not available, reference the fair value of credit default swap agreements on credit indices and asset-backed securities. Where the Portfolio is the seller of protection, it serves as an indicator of the current status of the payment/performance risk and represents the likelihood of an expected liability (or profit) for the credit derivative should the notional amount of the swap agreement be closed/sold as of the reporting date. Increasing fair value in absolute terms, when compared to the notional amount of the swap, represents 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.
Currency swap agreement outstanding at March 31, 2026:
Notional
Amount
(000)# 		  Fund
Receives 		  Notional
Amount
(000)# 		  Fund
Pays 		  Counterparty   Termination
Date 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation)
OTC Currency Swap Agreement:
  619   1 Day SOFR(Q)/ 3.680%   JPY 97,200   1 Day TONAR -0.35bps(Q)/ 0.377%   CITI   02/10/31   $8,733   $—   $8,733
A52
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest rate swap agreements outstanding at March 31, 2026:
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
March 31,
2026 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements:
AUD 735   12/03/28   2.650%(S)   6 Month BBSW(2)(S)/ 4.785%   $(18,558)   $(30,071)   $(11,513)
AUD 1,670   12/03/31   2.750%(S)   6 Month BBSW(2)(S)/ 4.785%   100,358   (126,299)   (226,657)
AUD 1,710   12/03/33   2.800%(S)   6 Month BBSW(2)(S)/ 4.785%   (117,702)   (167,655)   (49,953)
AUD 525   12/03/34   2.850%(S)   6 Month BBSW(2)(S)/ 4.785%   (32,936)   (56,260)   (23,324)
AUD 1,240   11/07/35   4.330%(S)   6 Month BBSW(2)(S)/ 4.785%   —   (44,259)   (44,259)
AUD 325   12/03/35   2.850%(S)   6 Month BBSW(2)(S)/ 4.785%   (36,060)   (38,505)   (2,445)
AUD 20   12/03/38   2.900%(S)   6 Month BBSW(2)(S)/ 4.785%   (1,894)   (2,921)   (1,027)
AUD 190   12/03/40   2.900%(S)   6 Month BBSW(2)(S)/ 4.785%   (21,828)   (31,115)   (9,287)
CAD 2,445   12/03/26   2.550%(S)   1 Day CORRA(2)(S)/ 2.270%   288   (2,508)   (2,796)
CAD 845   12/03/28   3.550%(S)   1 Day CORRA(2)(S)/ 2.270%   15,563   14,531   (1,032)
CAD 1,130   12/03/30   3.500%(S)   1 Day CORRA(2)(S)/ 2.270%   (3,541)   25,436   28,977
CAD 720   12/03/32   3.450%(S)   1 Day CORRA(2)(S)/ 2.270%   24,693   16,189   (8,504)
CAD 900   12/03/33   3.500%(S)   1 Day CORRA(1)(S)/ 2.270%   13,715   (21,893)   (35,608)
CAD 860   12/03/35   3.500%(S)   1 Day CORRA(2)(S)/ 2.270%   22,039   18,583   (3,456)
CAD 5,170   05/20/36   3.010%(S)   1 Day CORRA(2)(S)/ 2.270%   —   (69,366)   (69,366)
CAD 185   12/03/43   3.550%(S)   1 Day CORRA(2)(S)/ 2.270%   (2,620)   1,218   3,838
CAD 205   12/03/49   3.400%(S)   1 Day CORRA(2)(S)/ 2.270%   9,913   (3,472)   (13,385)
CHF 1,050   08/10/31   (0.220)%(A)   1 Day SARON(2)(A)/ (0.066)%   —   (40,209)   (40,209)
CHF 305   03/20/34   1.258%(A)   1 Day SARON(1)(A)/ (0.066)%   (23,909)   (24,699)   (790)
CHF 460   12/13/34   0.371%(A)   1 Day SARON(2)(A)/ (0.066)%   —   (5,004)   (5,004)
CHF 430   05/08/35   2.000%(A)   1 Day SARON(2)(A)/ (0.066)%   77,362   82,754   5,392
CHF 965   07/04/35   0.519%(A)   1 Day SARON(2)(A)/ (0.066)%   —   5,986   5,986
CHF 1,300   02/23/36   0.480%(A)   3 Month SARON(2)(A)/ (0.040)%   —   (8,721)   (8,721)
CLP 204,850   08/12/26   3.620%(S)   1 Day CLOIS(2)(S)/ 4.500%   —   (1,122)   (1,122)
CNH 29,130   08/12/26   2.490%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   (8)   20,775   20,783
CNH 77,820   08/20/26   2.440%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   (47)   52,995   53,042
CNH 10,410   08/04/27   2.388%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   —   19,837   19,837
CNH 18,060   03/01/28   2.955%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   —   75,050   75,050
CNH 2,210   04/26/28   2.790%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   —   9,098   9,098
CNH 28,510   05/11/28   2.600%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   35,867   99,832   63,965
CNH 6,900   06/01/28   2.473%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   —   21,377   21,377
CNH 54,565   05/10/29   2.650%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   212,185   278,465   66,280
CNH 20,450   05/15/29   2.027%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   2,013   45,862   43,849
CNH 9,500   11/11/29   1.500%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   3,401   (2,798)   (6,199)
CNH 5,200   12/12/29   1.496%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   582   (1,782)   (2,364)
CNH 37,000   05/11/30   1.500%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   (13,836)   (16,345)   (2,509)
CNH 51,300   06/11/30   1.447%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   —   (39,834)   (39,834)
CNH 9,200   11/20/30   1.585%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   (632)   (288)   344
CNH 8,205   02/26/31   1.570%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   —   (1,609)   (1,609)
CNH 3,195   03/02/31   1.575%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   —   (506)   (506)
CNH 9,395   05/11/31   1.600%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   (81)   (241)   (160)
CZK 18,000   08/12/26   2.062%(A)   6 Month PRIBOR(2)(S)/ 3.620%   —   2,777   2,777
CZK 11,600   03/17/31   4.370%(A)   6 Month PRIBOR(2)(S)/ 3.620%   —   124   124
CZK 3,000   03/30/36   4.420%(A)   6 Month PRIBOR(2)(S)/ 3.620%   —   (1,241)   (1,241)
DKK 3,300   04/08/32   1.581%(A)   6 Month CIBOR(2)(S)/ 2.523%   (14,548)   (40,591)   (26,043)
EUR 2,120   04/23/26   3.076%(A)   1 Day EuroSTR(1)(A)/ 1.929%   —   (27,262)   (27,262)
EUR 805   10/11/29   2.101%(A)   1 Day EuroSTR(1)(A)/ 1.929%   —   14,234   14,234
EUR 4,535   05/11/31   2.650%(A)   1 Day EuroSTR(1)(A)/ 1.929%   (112,333)   (38,028)   74,305
EUR 4,405   05/11/32   2.600%(A)   1 Day EuroSTR(1)(A)/ 1.929%   (138,333)   (9,599)   128,734
EUR 1,360   03/20/33   2.996%(A)   6 Month EURIBOR(2)(S)/ 2.475%   —   5,847   5,847
EUR 1,958   02/15/34   2.231%(A)   1 Day EuroSTR(1)(A)/ 1.929%   —   82,899   82,899
EUR 1,299   02/15/34   2.258%(A)   1 Day EuroSTR(1)(A)/ 1.929%   —   52,054   52,054
EUR 450   03/20/34   2.560%(A)   1 Day EuroSTR(1)(A)/ 1.929%   —   7,172   7,172
EUR 3,250   05/11/34   2.650%(A)   1 Day EuroSTR(2)(A)/ 1.929%   77,200   (7,498)   (84,698)
EUR 975   03/20/38   2.982%(A)   6 Month EURIBOR(1)(S)/ 2.475%   —   16,285   16,285
EUR 715   11/24/41   0.565%(A)   6 Month EURIBOR(1)(S)/ 2.475%   —   171,909   171,909
EUR 715   11/24/41   0.600%(A)   3 Month EURIBOR(2)(Q)/ 2.079%   —   (170,907)   (170,907)
EUR 1,734   11/25/41   0.629%(A)   6 Month EURIBOR(1)(S)/ 2.475%   —   407,499   407,499
A53
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest rate swap agreements outstanding at March 31, 2026 (continued):
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
March 31,
2026 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
EUR 1,734   11/25/41   0.663%(A)   3 Month EURIBOR(2)(Q)/ 2.079%   $—   $(405,293)   $(405,293)
EUR 1,390   02/17/42   0.536%(A)   6 Month EURIBOR(2)(S)/ 2.475%   —   (542,975)   (542,975)
EUR 1,140   03/22/42   1.257%(A)   6 Month EURIBOR(1)(S)/ 2.475%   —   206,908   206,908
EUR 1,140   03/22/42   1.310%(A)   3 Month EURIBOR(2)(Q)/ 2.079%   —   (204,031)   (204,031)
EUR 910   02/24/43   2.910%(A)   6 Month EURIBOR(1)(S)/ 2.475%   755   41,992   41,237
EUR 910   02/24/43   2.960%(A)   3 Month EURIBOR(2)(Q)/ 2.079%   (400)   (33,311)   (32,911)
EUR 300   05/11/44   1.150%(A)   1 Day EuroSTR(2)(A)/ 1.929%   (67,824)   (96,052)   (28,228)
EUR 1,840   05/11/45   2.700%(A)   1 Day EuroSTR(2)(A)/ 1.929%   35,468   (101,473)   (136,941)
EUR 350   05/11/52   1.200%(A)   1 Day EuroSTR(2)(A)/ 1.929%   (83,813)   (136,709)   (52,896)
EUR 1,650   11/28/54   1.468%(A)   6 Month EURIBOR(1)(S)/ 2.475%   (1,171)   121,527   122,698
GBP 1,260   05/08/26   1.000%(A)   1 Day SONIA(1)(A)/ 3.730%   (46,102)   50,241   96,343
GBP 4,445   05/08/26   1.000%(A)   1 Day SONIA(1)(A)/ 3.730%   (61,578)   177,239   238,817
GBP 3,875   05/08/27   1.050%(A)   1 Day SONIA(1)(A)/ 3.730%   63,776   317,068   253,292
GBP 700   05/08/29   1.100%(A)   1 Day SONIA(2)(A)/ 3.730%   (59,149)   (106,605)   (47,456)
GBP 750   05/08/31   1.150%(A)   1 Day SONIA(1)(A)/ 3.730%   (57,791)   162,705   220,496
GBP 635   05/08/32   1.150%(A)   1 Day SONIA(1)(A)/ 3.730%   4,448   160,013   155,565
GBP 1,430   05/08/33   1.150%(A)   1 Day SONIA(2)(A)/ 3.730%   (233,172)   (407,256)   (174,084)
GBP 845   05/08/33   3.850%(A)   1 Day SONIA(1)(A)/ 3.730%   20,271   31,145   10,874
GBP 485   05/08/35   3.900%(A)   1 Day SONIA(2)(A)/ 3.730%   (10,623)   (24,015)   (13,392)
GBP 150   05/08/38   1.200%(A)   1 Day SONIA(2)(A)/ 3.730%   (37,419)   (66,362)   (28,943)
GBP 1,225   05/08/40   3.950%(A)   1 Day SONIA(2)(A)/ 3.730%   (53,797)   (114,142)   (60,345)
GBP 250   05/08/41   1.250%(A)   1 Day SONIA(2)(A)/ 3.730%   30,753   (130,166)   (160,919)
GBP 640   05/08/43   1.250%(A)   1 Day SONIA(1)(A)/ 3.730%   242,476   365,388   122,912
GBP 370   05/08/45   3.950%(A)   1 Day SONIA(1)(A)/ 3.730%   24,963   49,782   24,819
GBP 520   02/08/46   3.950%(A)   1 Day SONIA(1)(A)/ 3.730%   56,056   72,071   16,015
GBP 1,150   02/19/46   4.423%(A)   1 Day SONIA(2)(A)/ 3.730%   (29)   (66,320)   (66,291)
GBP 860   02/27/46   5.000%(A)   1 Day SONIA(2)(A)/ 3.730%   843   (17,213)   (18,056)
GBP 3,240   05/08/46   1.250%(A)   1 Day SONIA(2)(A)/ 3.730%   515,529   (2,062,060)   (2,577,589)
GBP 1,385   05/08/46   3.950%(A)   1 Day SONIA(1)(A)/ 3.730%   175,356   196,037   20,681
GBP 530   05/08/48   1.250%(A)   1 Day SONIA(1)(A)/ 3.730%   227,097   356,996   129,899
GBP 300   05/08/54   1.250%(A)   1 Day SONIA(2)(A)/ 3.730%   (166,539)   (227,421)   (60,882)
GBP 215   05/08/54   3.900%(A)   1 Day SONIA(2)(A)/ 3.730%   (731)   (40,077)   (39,346)
GBP 460   02/08/56   3.900%(A)   1 Day SONIA(2)(A)/ 3.730%   (72,984)   (86,619)   (13,635)
GBP 1,415   02/27/56   4.700%(A)   1 Day SONIA(1)(A)/ 3.730%   (913)   13,191   14,104
HUF 50,000   08/10/31   2.748%(A)   6 Month BUBOR(2)(S)/ 6.620%   —   (27,505)   (27,505)
ILS 1,120   07/08/30   3.950%(A)   1 Day SHIR(2)(A)/ 4.000%   279   237   (42)
ILS 625   02/18/36   3.585%(A)   1 Day SHIR(2)(A)/ 4.000%   —   (6,793)   (6,793)
JPY 261,000   07/08/26   (0.050)%(A)   1 Day TONAR(2)(A)/ 0.727%   1,288   (11,529)   (12,817)
JPY 110,000   07/08/27   (0.050)%(A)   1 Day TONAR(1)(A)/ 0.727%   8,529   13,720   5,191
JPY 220,000   07/08/27   0.500%(A)   1 Day TONAR(2)(A)/ 0.727%   (5,115)   (12,300)   (7,185)
JPY 252,000   04/11/28   0.609%(A)   1 Day TONAR(1)(A)/ 0.727%   —   22,948   22,948
JPY 550,000   07/08/28   (0.050)%(A)   1 Day TONAR(2)(A)/ 0.727%   (45,658)   (128,872)   (83,214)
JPY 140,600   07/31/28   0.268%(A)   1 Day TONAR(2)(A)/ 0.727%   —   (25,279)   (25,279)
JPY 145,000   07/08/29   (0.050)%(A)   1 Day TONAR(2)(A)/ 0.727%   (18,991)   (51,160)   (32,169)
JPY 60,000   07/08/30   (0.050)%(A)   1 Day TONAR(2)(A)/ 0.727%   (14,554)   (28,576)   (14,022)
JPY 356,000   07/08/31   0.000%(A)   1 Day TONAR(2)(A)/ 0.727%   (2,017)   (208,625)   (206,608)
JPY 200,000   07/08/31   0.800%(A)   1 Day TONAR(2)(A)/ 0.727%   3,810   (59,267)   (63,077)
JPY 75,000   07/08/32   0.050%(A)   1 Day TONAR(1)(A)/ 0.727%   15,314   52,194   36,880
JPY 390,000   07/08/32   0.900%(A)   1 Day TONAR(2)(A)/ 0.727%   (29,542)   (132,744)   (103,202)
JPY 25,000   07/08/33   0.100%(A)   1 Day TONAR(2)(A)/ 0.727%   (6,704)   (20,141)   (13,437)
JPY 515,000   07/08/35   0.100%(A)   1 Day TONAR(2)(A)/ 0.727%   10,444   (558,250)   (568,694)
JPY 55,000   07/08/38   0.200%(A)   1 Day TONAR(2)(A)/ 0.727%   (42,048)   (80,113)   (38,065)
JPY 30,000   07/08/39   1.350%(A)   1 Day TONAR(2)(A)/ 0.727%   613   (21,575)   (22,188)
JPY 95,000   07/08/40   1.400%(A)   1 Day TONAR(2)(A)/ 0.727%   (17,660)   (73,850)   (56,190)
JPY 343,000   07/08/41   0.250%(A)   1 Day TONAR(2)(A)/ 0.727%   (8,500)   (638,255)   (629,755)
JPY 110,000   07/08/43   0.300%(A)   1 Day TONAR(2)(A)/ 0.727%   (108,059)   (231,890)   (123,831)
JPY 5,000   07/08/44   0.350%(A)   1 Day TONAR(2)(A)/ 0.727%   (5,788)   (10,982)   (5,194)
A54
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest rate swap agreements outstanding at March 31, 2026 (continued):
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
March 31,
2026 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
JPY 65,000   07/08/44   1.550%(A)   1 Day TONAR(2)(A)/ 0.727%   $1,298   $(66,722)   $(68,020)
JPY 80,000   07/08/45   1.600%(A)   1 Day TONAR(2)(A)/ 0.727%   (27,027)   (84,987)   (57,960)
JPY 80,000   12/19/45   2.481%(A)   1 Day TONAR(2)(A)/ 0.727%   —   (19,998)   (19,998)
JPY 500,000   02/24/46   2.530%(A)   1 Day TONAR(2)(A)/ 0.727%   —   (115,690)   (115,690)
JPY 215,000   03/02/46   2.569%(A)   1 Day TONAR(2)(A)/ 0.727%   —   (41,997)   (41,997)
JPY 40,000   07/08/48   0.450%(A)   1 Day TONAR(2)(A)/ 0.727%   (36,776)   (103,063)   (66,287)
JPY 80,000   07/08/49   0.450%(A)   1 Day TONAR(2)(A)/ 0.727%   (112,122)   (214,817)   (102,695)
JPY 40,000   07/08/49   1.700%(A)   1 Day TONAR(1)(A)/ 0.727%   2,590   50,234   47,644
JPY 65,000   01/08/51   1.700%(A)   1 Day TONAR(1)(A)/ 0.727%   84,358   90,604   6,246
JPY 275,000   07/08/51   0.450%(A)   1 Day TONAR(2)(A)/ 0.727%   30,268   (794,663)   (824,931)
JPY 39,000   09/02/51   0.393%(A)   1 Day TONAR(2)(A)/ 0.727%   —   (115,914)   (115,914)
JPY 20,000   07/08/52   0.450%(A)   1 Day TONAR(2)(A)/ 0.727%   (10,509)   (59,684)   (49,175)
JPY 45,000   07/08/53   0.450%(A)   1 Day TONAR(1)(A)/ 0.727%   73,770   138,157   64,387
JPY 26,800   07/31/53   1.102%(A)   1 Day TONAR(1)(A)/ 0.727%   —   60,517   60,517
JPY 160,000   07/08/54   1.750%(A)   1 Day TONAR(2)(A)/ 0.727%   1,663   (237,798)   (239,461)
JPY 50,000   07/08/55   1.750%(A)   1 Day TONAR(2)(A)/ 0.727%   (48,679)   (76,668)   (27,989)
JPY 55,000   09/01/55   2.485%(A)   1 Day TONAR(2)(A)/ 0.727%   —   (32,757)   (32,757)
KRW 300,000   04/19/28   3.135%(Q)   3 Month KWCDC(2)(Q)/ 2.820%   —   (1,576)   (1,576)
KRW 2,570,000   08/13/31   1.630%(Q)   3 Month KWCDC(2)(Q)/ 2.820%   —   (178,073)   (178,073)
KRW 507,960   03/10/33   3.150%(Q)   3 Month KWCDC(2)(Q)/ 2.820%   (6,114)   (12,812)   (6,698)
KRW 125,000   11/24/33   3.610%(Q)   3 Month KWCDC(2)(Q)/ 2.820%   —   (873)   (873)
KRW 1,888,140   03/10/34   3.150%(Q)   3 Month KWCDC(2)(Q)/ 2.820%   (2,604)   (54,112)   (51,508)
KRW 2,069,000   03/10/35   3.200%(Q)   3 Month KWCDC(2)(Q)/ 2.820%   72,023   (59,991)   (132,014)
KRW 327,000   03/10/36   3.200%(Q)   3 Month KWCDC(2)(Q)/ 2.820%   (2,828)   (10,511)   (7,683)
MXN 81,125   02/28/31   7.348%(M)   28 Day Mexican Interbank Rate(2)(M)/ 7.057%   —   (147,295)   (147,295)
MXN 10,400   04/19/32   8.945%(M)   28 Day Mexican Interbank Rate(2)(M)/ 7.057%   —   12,828   12,828
MXN 19,600   02/25/33   7.565%(M)   28 Day Mexican Interbank Rate(2)(M)/ 7.057%   —   (43,760)   (43,760)
MXN 47,695   02/25/33   7.566%(M)   28 Day Mexican Interbank Rate(2)(M)/ 7.057%   —   (106,276)   (106,276)
MXN 3,065   05/09/34   8.400%(M)   28 Day Mexican Interbank Rate(2)(M)/ 7.057%   —   (2,400)   (2,400)
MYR 300   04/15/35   3.700%(Q)   3 Month KLIBOR(2)(Q)/ 3.370%   1,630   (117)   (1,747)
NOK 1,535   08/10/31   1.460%(A)   6 Month NIBOR(2)(S)/ 4.660%   —   (22,532)   (22,532)
NZD 540   08/10/31   1.876%(S)   3 Month BBR(2)(Q)/ 2.540%   —   (32,638)   (32,638)
NZD 485   05/08/35   4.400%(S)   3 Month BBR(2)(Q)/ 2.540%   16,428   5,828   (10,600)
NZD 1,050   07/31/35   4.068%(S)   3 Month BBR(2)(Q)/ 2.540%   —   (10,349)   (10,349)
NZD 6,405   02/23/36   4.014%(S)   3 Month BBR(2)(Q)/ 2.540%   —   (95,898)   (95,898)
PLN 2,280   05/11/28   4.350%(A)   6 Month WIBOR(2)(S)/ 3.890%   981   12,995   12,014
PLN 1,000   11/09/31   2.845%(A)   6 Month WIBOR(2)(S)/ 3.890%   —   (24,566)   (24,566)
SEK 6,000   08/10/31   0.530%(A)   3 Month STIBOR(2)(Q)/ 2.186%   —   (73,243)   (73,243)
SGD 800   07/29/31   1.120%(S)   1 Day SORA(2)(S)/ 0.995%   (1,806)   (28,499)   (26,693)
SGD 280   09/10/35   2.500%(S)   1 Day SORA(2)(S)/ 0.995%   11,005   4,364   (6,641)
SGD 200   09/15/35   1.680%(S)   1 Day SORA(2)(S)/ 0.995%   —   (7,899)   (7,899)
SGD 425   09/17/35   1.680%(S)   1 Day SORA(2)(S)/ 0.995%   —   (16,791)   (16,791)
SGD 290   09/25/35   1.710%(S)   1 Day SORA(2)(S)/ 0.995%   —   (10,945)   (10,945)
THB 79,655   08/18/26   1.168%(Q)   1 Day THOR(1)(Q)/ 0.989%   —   (1,747)   (1,747)
THB 28,000   08/17/31   1.320%(Q)   1 Day THOR(2)(Q)/ 0.989%   —   (18,855)   (18,855)
THB 10,200   04/18/34   2.895%(Q)   1 Day THOR(2)(Q)/ 0.989%   —   22,540   22,540
THB 8,920   04/22/34   2.818%(Q)   1 Day THOR(2)(Q)/ 0.989%   —   18,053   18,053
THB 10,735   09/10/34   2.350%(Q)   1 Day THOR(2)(Q)/ 0.989%   11,704   9,026   (2,678)
THB 7,600   12/16/34   2.173%(Q)   1 Day THOR(2)(Q)/ 0.989%   —   2,784   2,784
THB 17,200   09/10/35   2.400%(Q)   1 Day THOR(2)(Q)/ 0.989%   35,754   14,898   (20,856)
TWD 33,100   02/17/28   1.390%(Q)   3 Month TAIBOR(1)(Q)/ 1.678%   —   12,331   12,331
  2,320   04/23/26   4.861%(A)   1 Day SOFR(2)(A)/ 3.680%   —   17,513   17,513
  66,855   05/17/26   4.669%(A)   1 Day SOFR(1)(A)/ 3.680%   —   (306,146)   (306,146)
  37,970   08/27/26   3.809%(T)   1 Day SOFR(2)(T)/ 3.680%   —   (73,111)   (73,111)
  9,645   09/25/26   4.699%(A)   1 Day SOFR(1)(A)/ 3.680%   1,784   (76,476)   (78,260)
  3,775   09/25/26   4.699%(A)   1 Day SOFR(1)(A)/ 3.680%   —   (29,932)   (29,932)
  38,895   05/13/27   4.497%(A)   1 Day SOFR(2)(A)/ 3.680%   5,397   407,812   402,415
A55
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Interest rate swap agreements outstanding at March 31, 2026 (continued):
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Value at
Trade Date 		  Value at
March 31,
2026 		  Unrealized
Appreciation
(Depreciation)
Centrally Cleared Interest Rate Swap Agreements (cont’d.):
  2,467   08/15/28   1.220%(A)   1 Day SOFR(1)(A)/ 3.680%   $—   $176,549   $176,549
  2,630   09/05/28   4.027%(A)   1 Day SOFR(1)(A)/ 3.680%   —   (27,337)   (27,337)
  2,140   11/07/28   4.223%(A)   1 Day SOFR(1)(A)/ 3.680%   —   (37,187)   (37,187)
  24,205   05/13/29   4.253%(A)   1 Day SOFR(1)(A)/ 3.680%   (25,736)   (472,828)   (447,092)
  980   05/17/29   4.143%(A)   1 Day SOFR(1)(A)/ 3.680%   —   (16,523)   (16,523)
  1,940   05/11/30   4.150%(A)   1 Day SOFR(1)(A)/ 3.680%   8,620   (42,228)   (50,848)
  400   02/22/32   3.989%(A)   1 Day SOFR(1)(A)/ 3.680%   —   (7,167)   (7,167)
  840   03/28/32   3.841%(A)   1 Day SOFR(1)(A)/ 3.680%   —   (8,151)   (8,151)
  200   08/01/35   3.869%(A)   1 Day SOFR(1)(A)/ 3.680%   —   (554)   (554)
  790   11/10/35   3.669%(A)   1 Day SOFR(1)(A)/ 3.680%   —   10,881   10,881
  5,315   05/26/36   3.672%(A)   1 Day SOFR(1)(A)/ 3.680%   —   82,945   82,945
  23,280   12/20/44   3.995%(A)   1 Day SOFR(2)(A)/ 3.680%   —   (405,774)   (405,774)
  1,205   05/11/45   4.000%(A)   1 Day SOFR(2)(A)/ 3.680%   (49,188)   (23,408)   25,780
  800   05/11/49   1.350%(A)   1 Day SOFR(2)(A)/ 3.680%   (302,402)   (355,771)   (53,369)
  13,595   12/16/49   3.805%(A)   1 Day SOFR(2)(A)/ 3.680%   (93,195)   (713,095)   (619,900)
  3,838   11/15/52   3.927%(A)   1 Day SOFR(1)(A)/ 3.680%   —   130,680   130,680
  250   04/30/54   4.027%(A)   1 Day SOFR(1)(A)/ 3.680%   —   4,431   4,431
  485   05/10/54   3.850%(A)   1 Day SOFR(2)(A)/ 3.680%   (2,692)   (23,624)   (20,932)
  2,980   05/11/54   1.350%(A)   1 Day SOFR(1)(A)/ 3.680%   1,360,272   1,459,579   99,307
  735   05/11/54   1.350%(A)   1 Day SOFR(1)(A)/ 3.680%   322,226   359,997   37,771
  5,325   12/14/54   3.136%(A)   1 Day SOFR(1)(A)/ 3.680%   21,937   187,338   165,401
  17,930   12/14/54   3.136%(A)   1 Day SOFR(1)(A)/ 3.680%   262,221   630,793   368,572
  531   12/15/54   3.638%(A)   1 Day SOFR(1)(A)/ 3.680%   —   37,362   37,362
  12,040   12/16/54   3.719%(A)   1 Day SOFR(1)(A)/ 3.680%   93,329   818,965   725,636
  17,745   12/20/54   3.825%(A)   1 Day SOFR(1)(A)/ 3.680%   —   884,274   884,274
  940   05/11/55   3.850%(A)   1 Day SOFR(1)(A)/ 3.680%   45,883   45,176   (707)
  520   05/10/74   3.420%(A)   1 Day SOFR(1)(A)/ 3.680%   5,392   55,838   50,446
  790   05/11/74   1.950%(A)   1 Day SOFR(1)(A)/ 3.680%   3,560   39,916   36,356
                    $1,988,125   $(4,008,844)   $(5,996,969)
    
Notional
Amount
(000)# 		  Termination
Date 		  Fixed
Rate 		  Floating
Rate 		  Fair
Value 		  Upfront
Premiums
Paid(Received) 		  Unrealized
Appreciation
(Depreciation) 		  Counterparty
OTC Interest Rate Swap Agreements:
BRL 4,404   01/02/31   13.788%(T)   1 Day BROIS(1)(T)/ 0.054%   $3,947   $—   $3,947   GSI
BRL 4,404   01/02/31   13.940%(T)   1 Day BROIS(2)(T)/ 0.054%   (3,419)   —   (3,419)   GSI
CNH 1,300   07/31/30   2.515%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   7,658   —   7,658   MSI
CNH 6,000   09/01/30   2.360%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   29,375   —   29,375   MSI
CNH 1,200   11/24/30   2.495%(Q)   7 Day China Fixing Repo Rates(2)(Q)/ 1.351%   7,208   —   7,208   MSI
MYR 5,400   08/12/26   2.605%(Q)   3 Month KLIBOR(2)(Q)/ 3.370%   (4,603)   (9)   (4,594)   HSBC
MYR 465   11/23/30   3.880%(Q)   3 Month KLIBOR(2)(Q)/ 3.370%   1,863   (1)   1,864   MSI
MYR 1,845   02/28/32   3.625%(Q)   3 Month KLIBOR(2)(Q)/ 3.370%   1,426   —   1,426   JPM
MYR 1,000   04/07/32   3.870%(Q)   3 Month KLIBOR(2)(Q)/ 3.370%   4,239   (12)   4,251   CITI
MYR 1,500   07/29/35   3.330%(Q)   3 Month KLIBOR(2)(Q)/ 3.370%   (12,251)   (1)   (12,250)   JPM
                  $35,443   $(23)   $35,466    
    
(1) The Portfolio pays the fixed rate and receives the floating rate.
(2) The Portfolio pays the floating rate and receives the fixed rate.
    
A56
AST AGGRESSIVE ASSET ALLOCATION PORTFOLIO (continued)
SCHEDULE OF INVESTMENTS as of March 31, 2026 (unaudited)
Total return swap agreements outstanding at March 31, 2026:
Reference Entity   Financing
Rate 		  Counterparty   Termination
Date 		  Long (Short)
Notional
Amount
(000)#(1) 		  Fair
Value 		  Upfront
Premiums
Paid
(Received) 		  Unrealized
Appreciation
(Depreciation)(2)
OTC Total Return Swap Agreements:
Bloomberg Commodity Total Return Index(Q)   3 Month U.S. Treasury Bill +8bps(Q)/ 3.700%   BOA   04/07/27   41,244   $—   $—   $—
U.S. Treasury Bond(T)   1 Day USOIS +26bps(T)/ 3.900%   JPM   05/04/26   18,655   (771,810)   —   (771,810)
                    $(771,810)   $—   $(771,810)
(1) On a long total return swap, the Portfolio receives payments for any positive return on the reference entity (makes payments for any negative return) and pays the financing rate. On a short total return swap, the Portfolio makes payments for any positive return on the reference entity (receives payments for any negative return) and receives the financing rate.
(2) Upfront/recurring fees or commissions, as applicable, are included in the net unrealized appreciation (depreciation).
Other information regarding the Portfolio is available in the Portfolio’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).
A57